A quaint beach cottage in the Jersey Shore area recently achieved an astounding sale of $10 million, breaking records in the real estate market. This particular property, located in Stone Harbor, Cape May County, boasts three bedrooms, two bathrooms, and spans across 1,225 square feet with an exquisite view of the ocean. The cottage dates back to 1954, as indicated by tax records, and was last sold in 1993 for a mere $658,000. The huge jump in price, amounting to a staggering 1,420% increase, is a testament to the property’s desirability, as reported by the Philadelphia Inquirer.
Jack Vizzard from Berkshire Hathaway HomeServices Fox & Roach Realtors, who represented both the seller and the buyer, candidly expressed his astonishment, calling the sales figure “crazy.” He conveyed this sentiment to NJ.com, highlighting the extraordinary nature of the transaction. The previous owner, residing in Washington, D.C., initially listed the cottage for $7.95 million in 2019. However, due to the unforeseen circumstances of the pandemic, the listing was subsequently removed. When the owner decided to put the property back on the market, Vizzard already had a potential buyer in mind – someone seeking an idyllic oceanfront residence. Without hesitation, Vizzard contacted the potential buyer, who promptly wrote a check for the astounding sum of $10 million.
While the new owner, who wishes to remain anonymous, has grand plans for the property including the demolition of the existing cottage to make way for something new, consultation with an architect is already underway. The location of the cottage, situated on 111th Street, holds significance as it briefly appeared in the critically acclaimed 1993 film “Philadelphia,” starring Tom Hanks. Google Street View provides a glimpse of the charming oceanfront home and its prime position across the street from the Sisters, Servants of the Immaculate Heart of Mary convent. This location offers an unparalleled view of the Atlantic Ocean, a captivating feature, as described by Vizzard in an interview with Philadelphia Magazine. He praised the property for its remarkable panorama, attributing it to the convent’s setback of 150 yards from the beach. This arrangement provides the lucky owner with an absence of neighbors to the south and panoramic views spanning 270 degrees. Vizzard even went as far as to suggest that the $10 million price tag is, in fact, a bargain when considering the unique and enviable characteristics of the property.
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