The Pavilion Long Branch, NJ

As an exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in The Pavilion & 231 Third Ave. Positioned for the optimal coastal experience in Long Branch, this opportunity presents a rare chance to acquire a newly constructed 46-unit asset along with two retail storefronts nestled in the heart of the Jersey Shore.

Completed in 2021, The Pavilion located at 165 Pavilion Ave includes 46 units boasting high-quality interiors free from rent control restrictions. Offering an average rent of $2,738, ranging from 893 to 1,835 SF with units featuring open floor plans, private patios, dens, and generous walk-in closets. The unique combination of best-in-class location, premium finishes, and “boutique” feel is unmatched in Long Branch and allows for units at The Pavilion to stand out compared to its peers.

Similarly, the adjacent retail building at 231 Third Ave is conveniently situated directly across from the Long Branch train station which benefits from daily NJ Transit commuter foot traffic. Occupied by Dunkin for over 20 years, and Sushi on Fleek with over 3 years remaining on the lease term for each tenant with, rents averaging $4,214 and the possibility of increasing rents to market rents in the near term. 231 Third Ave has historically benefitted from stable long-term cash flow and asset appreciation given its proximity to the train station and the dynamic neighborhood along the waterfront.

The Pavilion & 231 Third Ave are a short walk from the beachfront and train station in one of the Jersey Shore’s most coveted neighborhoods. With easy access to the beach, and train station it’s a sought-after location for residents and visitors alike. This waterfront area boasts upscale amenities, including restaurants with fresh seafood, upscale shopping options, and recreational activities. It’s a hub for outdoor enthusiasts, offering opportunities for water sports, jogging, and scenic walks along the boardwalk. The neighborhood is dotted with luxury residences, creating a blend of modern sophistication and natural beauty, making it an idyllic neighborhood.

Investment Highlights