New Jersey
Here’s what $5M will get you at the Jersey Shore
Five million dollars is certainly a lot of money. But if you’re looking to sink it into a Jersey Shore house, you probably won’t get everything on your wishlist.
You should be able to find a new construction home. It will probably have a pool. But you might be walking at least a block to get to the beach.
The prices of homes at the Jersey Shore have nearly doubled since the coronavirus pandemic. And the continued low inventory is pushing prices even higher.
“There’s still an extreme lack of inventory,” said Brendan Pierce with Keller Williams Shore Properties. “Sellers are really benefitting.”
Five million dollars is the mid-range of the market, nowadays, especially in places like Seven Mile Island, where home prices top out at more than $20 million.
Prices were expected to stabilize when interest rates rose but that isn’t happening.
“People have just become more tolerant of the higher rates and they have a greater belief the market isn’t going to be negatively impacted,” said Jack Binder, Jr. of Ferguson Dechert Real Estate, Inc. “They’re watching other people’s transactions … and those transactions are giving them confidence. When this round sells, the dirt is going to be even more expensive.”
The $4 million to $5 million price range is a very active segment of the market, said Shawn Clayton of Clayton & Clayton Realtors, who works primarily between Point Pleasant Beach and South Mantoloking.
“There are probably four to five listings that just went under contract in the past 60 days,” he said.
And the market is picking up steam as the summer wanes.
“People who were down for the summer start heading home and feel like they’re missing out,” Clayton said. “So they want to step it up and purchase something for next year.”
Here are some homes that were recently listed at the Jersey Shore for about $5 million:
The custom-built home is listed for $4,999,9999.Courtesy of Brendan Pierce with Keller Williams Shore Properties
This home was custom built in 2022 for the current owner. The six-bedroom, four full- and two half-bathroom residence has 75 feet of water frontage and is located in the Normandy Beach private enclave. It has an elevator, a salt water pool, a chef’s kitchen and ornate millwork.
The home was on the market for about 50 days, “then we received several full price offers within 48 hours of each other,” said Brendan Pierce with Keller Williams Shore Properties. It is currently under contract.
This oceanfront home is listed for $4,895,000.Courtesy of Shawn Clayton with Clayton & Clayton Realtors
This oceanfront five-bedroom, four-bathroom home was built in 2004. It’s about 4,300 square feet and has lower and upper decks with ocean views, multiple balconies, a two-car garage, a fireplace in the living room and a custom kitchen.
“The house is on Beacon Lane, it’s a very unique, oceanfront street. Everything is very custom. The neighborhood is built by design. It really does stand out and is a desirable area,” said Shawn Clayton of Clayton & Clayton Realtors.
The price of this new build has been reduced twice from $5.195 million to $4.699 million.Courtesy of Jack Binder, Jr. of Ferguson Dechert Real Estate, Inc.
A six-bedroom, six full- and two half-bathroom home is brand new. It’s a couple of blocks from the center of town and 16 homes from the beach. It was listed in January for $5.195 million. The price was reduced in March to $4.995 million and at the end of June the price was changed again to $4.699 million.
“It was built by people who did not intend to sell it and therefore it is ammenitized in a way that is finished beyond your typical … home built for resale,” said Jack Binder Jr. of Ferguson Dechert Real Estate, Inc.
Are you an agent, buyer or seller who is active in this changing market? Do you have tips about New Jersey’s real estate market? Unusual listings? Let us know.
Thank you for relying on us to provide the local news you can trust. Please consider supporting NJ.com with a subscription.
Allison Pries may be reached at apries@njadvancemedia.com.
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New Jersey
Bed Bath & Beyond returns to New Jersey stores
The basics:
- Bed Bath & Beyond returning through new store format with The Container Store
- 5 New Jersey locations set for redesign
- Stores will combine home goods, organization products
- Acquisition of The Container Store expected to close in July
Three years after filing for Chapter 11 bankruptcy and closing its 360-plus stores, Bed Bath & Beyond is making a retail comeback in New Jersey.
After the formerly Union-based chain’s new parent company announced plans to acquire The Container Store, it is developing a new format that will blend the two banners together.
Starting this month, The Container Store’s 98 locations nationwide will be redesigned to prepare for an integration of Bed Bath & Beyond merchandise.
Known as The Container Store + Bed Bath & Beyond, the format will focus on home goods, organization products and in-home services.
Within New Jersey, the model is coming to:
- Bound Brook – 335 Chimney Rock Road
- Cherry Hill – 2000 Route 38
- Livingston – 372 W. Mount Pleasant Ave.
- Paramus – 370 Route 17 N.
- Princeton – 3506 Brunswick Ave.
Ahead of the overhaul, The Container Store liquidated about 30% of existing inventory in a bid to “streamline assortments, improve space productivity and create room for new products expected to arrive in phases later this year.”
Making room
The Container Store Senior Vice President of Stores Jen Pape described the changes as “a reset with purpose.”
“We are actively reshaping our stores to make room for what’s next. By streamlining select categories today, we’re creating the space and flexibility needed to introduce Bed Bath & Beyond products and deliver a more complete home experience for our customers,” she said.
The move follows Bed Bath & Beyond’s announcement in April that it will acquire The Container Store for about $150 million in stock and convertible notes. The transaction is scheduled to close in July.
The Container Store filed for bankruptcy in December 2024 amid increasing competition from big box retailers and a rough housing market that reduced demand for home goods. The chain emerged from Chapter 11 with its store fleet largely intact.
Bed Bath & Beyond reborn
After winning Bed Bath & Beyond’s IP auction in June 2023 for $21.5 million, Overstock.com relaunched it two months later with a refreshed website and mobile app where shoppers can purchase home décor, furniture, bedding and kitchenware. Overstock.com renamed itself Beyond Inc. before rebranding as Bed Bath & Beyond.
Retail strategy
Find out why the new owner of Harmon, another former Bed Bath & Beyond brand, closed its Bridgewater store here.
The Dallas-headquartered company’s portfolio also includes Overstock.com and Kirkland’s. Last year, it purchased Bed Bath & Beyond’s former baby-focused banner Buybuy Baby for $5 million, too.
The purchase followed Somerset-based baby care brand Dream on Me’s attempt to revive Buybuy Baby. In addition to spending $15.5 million to acquire the chain’s trademark, domain, mobile platform and business data, Dream on Me shelled out $1.17 million to take over 11 brick-and-mortar locations on the East Coast.
Less than a year later, Buybuy Baby closed its fleet of stores in October 2024 and became a “digital-first brand.”
New Jersey
Violent teens clash with cops at NJ carnival — prompting officials to cancel beloved yearly event
Unruly teens violently overwhelmed a New Jersey community carnival, sparking several fights and cursing out police officers, forcing organizers to prematurely shutter the beloved annual event.
A large gathering of “unsupervised juveniles” descended onto the Maple Shade Tigers Youth Football Carnival at JFK Memorial Field in Maple Shade, NJ, on May 1, inundating the yearly gathering to fundraise for the youth sport organization, according to township officials.
“Officers on scene, along with event organizers, directed those involved and other unruly individuals to leave the carnival grounds in an attempt to restore order and maintain public safety,” Maple Shade officials said.
“As a result of the incident, the carnival was closed for the remainder of the evening.”
The delinquents weren’t ousted without a fight, causing problems with officials at the carnival about 15 miles east of Philadelphia.
“They were cursing at police officers. They were clearly trying to provoke physical confrontations with cops,” Maple Shade Police Department Lt. Daniel O’Brien told 6 ABC Philadelphia.
Police say several teens were charged but didn’t reveal the alleged crimes, according to the outlet.
One witness described the mass exodus as a “herd of kids” being escorted by cops, according to the outlet.
Large swarms of teens were seen on video posted online getting into fights and sprinting down the streets of the neighborhood.
One clip captured police officers chasing some of the hooligans as night fell on the Burlington County enclave.
Rumors began to spread online about weapons being brought into the carnival, but Maple Shade Police could not verify the reports, and no weapons were recovered from the scene.
Because of the Friday night mayhem, the second night of the carnival was also canceled.
“We recognize that this decision is not made lightly. The Maple Shade Tigers Youth Football Carnival is a valued tradition that supports a dedicated youth sports organization and brings the community together each year,” town officials said.
“From the outset of this event, Township officials, the Maple Shade Police Department, and the Maple Shade Youth Football organization have worked in close coordination with a shared commitment to ensuring the safety and well-being of all attendees,” officials said.
“Despite these proactive efforts, the circumstances that developed this evening required immediate action.
Officials estimate that the youth football organization lost thousands of dollars after the cancellations.
“It’s a non-profit, everything that we have always goes back into the program. New equipment, uniforms, helmets,” Thomas Oshinsky told 6 ABC Philadelphia.
Following the chaos in Maple Shade, officials beefed up security measures for the upcoming St. Mary of the Lakes Carnival and Music Festival in neighboring Medford.
Fences will enclose the event, and there will only be two entrances, officials said in a statement on Facebook.
“Face coverings are strictly prohibited, hoodies cannot be worn over your head, wand screening will be conducted, and all bags will be subjected to search,” the advisory warned.
Guests over 18 will be allowed into the park free of charge, with minors taller than 60 inches needing to buy a ticket.
“Carnivals are meant to be fun, family-friendly, fundraising activities held within communities,” officials said. “In Maple Shade, we saw yet again, what happens when groups of teens come to a carnival with intentions other than riding rides, eating funnel cake or playing games.
“We are hoping the measures above will prevent anything unwanted,” the statement added.
Medford officials blasted the uptick in teenage chaos as the community events that have plagued local carnivals in the South Jersey area over the past several years.
New Jersey
Bruce Springsteen says Long Island and New Jersey kinda like the same place
New Jersey … Long Island … what’s the difference?
Bruce Springsteen, stage-bantering during his Tuesday night concert at UBS Arena in Elmont, told the audience he seen little difference between the two bedroom communities of New York City.
And he paid tribute to Billy Joel.
“You see, Long Island and New Jersey — they’re the same thing. We were just separated at birth. That was what happened,” he said to cheers while performing “Wrecking Ball.” “We’re all my fellow bridge and tunnel people.”
Then, maneuvering his guitar, he added: “If you shake up New Jersey like this it becomes Long Island.”
The banter was prompted by the song lyrics, “I was raised outta steel / Here in the swamps of Jersey.”
Springsteen’s tribute to Long Island drew laughter, cheers and nods of agreement. His lyrics referencing the New York Giants and The Meadowlands Sports Complex also received warm and enthusiastic reactions from the audience.
As if all that weren’t enough, Springsteen also gave a shoutout to the Piano Man, who has boosted his presence in Florida and isn’t much in a “New York State of Mind” after listing his Gold Coast mansion, movin’ out and becoming a Florida resident.
“Let Billy hear ya in Florida!” Springsteen said during “Hungry Heart.”
Springsteen, of Freehold, New Jersey, has shouted out Long Island — and Hicksville’s Joel — before.
In 2009, at a 25th anniversary concert for the Rock & Roll Hall of Fame at Madison Square Garden, Springsteen asked the audience: “Are you ready for the bridge-and-tunnel summit meeting right here, right now? Because Long Island is about to meet New Jersey on the neutral ground of New York City!”
Then, Joel emerged. The two performed together.
Newsday’s Rachel Weiss contributed to this story.
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