Asbury Park penthouse sells for $5M, a record

Asbury Park penthouse sells for $5M, a record for the booming Shore resort, seller says

They could have had a two-bedroom duplex with a patio in Manhattan’s Tribeca neighborhood, or a San Francisco townhouse, or even a McMansion on 560 acres outside Okahoma City.

But instead, what one well-heeled homebuyer is spending $5 million on is a penthouse in Asbury Park, a record price for a condominium in the booming Shore resort, according to an announcement by the seller, Manhattan-based developer iStar.

Rather than one of the above properties listed in a what-will-$5-million-get-you survey last month by, iStar says its buyer will get a three-bedroom perch atop the Asbury Ocean Club, a Modernist steel-and-glass condominium and hotel tower rising 17 stories above the city’s famous boardwalk and beach. The 3-bedroom penthouse includes 4,124 square feet of indoor space and another 2,242 square feet outdoors.

The unnamed buyer will also get all the standard luxury of the Asbury Ocean Club: a mezzanine-level 65-by-30-foot pool and deck; dining and retail shops to open next year; priority membership in a nearby pool club along the beach; and panoramic views of the Atlantic Ocean, the Jersey Shore and its uplands, and, on clear days, the skyline of New York City, just over an hour away by car or train.