NOT LISTED FOR SALE

1417 Ocean Ave Unit 1 Ocean City, NJ 08226

Estimated Value: $4,756,000

6 Beds
5.5 Baths
-- Sq Ft
0.3 Acres

Last Sold August 25, 2023

Last sale price $3,800,000

Est. 25% increase in value since last sale

Current estimated payment $29,470/month

38 Days on Market

Highlights

  • Ocean Front
  • New Construction
  • Wood Flooring
  • Ocean City Primary School Rated A
  • Building is beachfront but unit may not have water views
  • Ground Level Unit

About This Home

As of August 2023

Exquisite Oceanfront New Construction! This unit features 6 bedrooms, 5.5 bathrooms, and a bonus cabana room with bathroom. Amenities will include high end finishes throughout, stainless steel appliances, hardwood floors throughout, open living area with gas fireplace, 3 off-street car parking, elevator and private fenced in pool. Enjoy your morning coffee or evening cocktails while overlooking ocean views. This home is custom built with the finest touches by Ozro Construction.

Last Listed By

Peter Madden

GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY License #0457059 Listed on: 06/16/2023

GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $34,171

Year Built

  • 1960

Lot Details

  • Building is beachfront but unit may not have water views
  • Ocean Front

Parking

  • 1 Car Garage

Home Design

  • Cedar Siding

Interior Spaces

  • 3-Story Property
  • Ceiling Fan
  • Entrance Foyer
  • Family Room with Fireplace
  • Great Room
  • Wood Flooring
  • Water Views

Kitchen

  • Eat-In Kitchen
  • Self-Cleaning Oven
  • Stove
  • Microwave
  • Dishwasher
  • Kitchen Island
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Location

  • Ground Level Unit

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas
  • Gas Water Heater

Community Details

Recreation

  • Community Boardwalk
  • Outdoor Community Showers
  • Community Pool

Pet Policy

  • Pets Allowed

Amenities

  • Elevator

Property Details

Home Type

Condominium

Est. Annual Taxes

$34,171

Year Built

1960

Lot Details

0

Listing Details

  • Class: Condominium
  • Type: Condo
  • Lvt Date: 06/16/2023
  • New Construction: Yes
  • Age: 0 To 1 Year
  • Number Of Levels In Unit: Two
  • Number Of Stories In Bldg: Three To Five
  • Unit Location: First Floor, Water View
  • Special Features: NewHome
  • Property Sub Type: Condos
  • Stories: 2
  • Year Built (Public Record): 1960

Interior Features

  • Appliances: Dryer, Disposal, Dishwasher, Gas Stove, Microwave, Refrigerator, Self Cleaning Oven, Washer
  • Fireplace: Family Room
  • Bedrooms: 6
  • Full Bathrooms: 5
  • Half Bathrooms: 1
  • Other Rooms: Eat In Kitchen, Great Room, Laundry/Utility Room
  • Common Area Features: Elevator, Outside Shower, Pool

Exterior Features

  • Siding Exterior: Cedar

Garage/Parking

  • Garage: One Car
  • Parking Exterior: Two Car

Utilities

  • Air Conditioner: Ceiling Fan(s), Central
  • Heating: Forced Air, Gas-Natural
  • Sewer: Public Sewer
  • Water: Public Water
  • Water Heater: Gas

Lot Info

  • Location: Beach Block, Boardwalk Area, Boardwalk Front, Ocean Front, Water View

Rental Info

  • Pets: Yes

Multi Family

  • Unit Features: Elevator, Fireplace(s), Foyer, Hardwood Floors, Kitchen Center Island, Pets Allowed

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 9, 2024
Sold by
Ocean Front Development Group Llc
Bought by
1419 Ocean Ave Llc
Total Days on Market
38
Current Estimated Value
$4,756,000

Purchase Details

Listed on
Jun 16, 2023
Closed on
Aug 25, 2023
Sold by
Ocean Front Development Group Llc
Bought by
Summers Grady K and Summers Corinne Y
Seller's Agent
Peter Madden
GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY
Buyer's Agent
DENISE KELLEY
BERGER REALTY-Main
List Price
$3,999,900
Sold Price
$3,800,000
Premium/Discount to List
-$199,900
-5%
Views
122

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,800,000
Interest Rate
6.13%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 2, 2023
Sold by
Ocean Front Development Group Llc
Bought by
Ocean Front Estates Condominium

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,340,000
Interest Rate
4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 21, 2021
Sold by
Oceanfront Motel Inc
Bought by
Ocean Front Development Group Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,712,500
Interest Rate
3.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 17, 1992
Sold by
Farmers & Mechanics Savings Bank
Bought by
Oceanfront Motel Inc

Purchase Details

Closed on
Aug 25, 1992
Sold by
Plousisjames T Sheriff Co Of C M
Bought by
Farmers & Mechanics Savings Bank

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
1419 Ocean Ave Llc $4,370,000 Chicago Title
Summers Grady K $3,800,000 Fidelity National Title
Ocean Front Estates Condominium -- Freedom Title
Ocean Front Development Group Llc $4,925,000 Freedom Title
Oceanfront Motel Inc $775,000 --
Oceanfront Motel Inc $775,000 --
Farmers & Mechanics Savings Bank $100 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Summers Grady K $3,800,000
Previous Owner Ocean Front Estates Condominium $2,340,000
Previous Owner Ocean Front Estates Condominium $2,340,000
Previous Owner Ocean Front Development Group Llc $3,712,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/25/2023 08/25/23 Sold $3,800,000 -5.0% --
07/24/2023 07/24/23 Pending -- -- --
06/16/2023 06/16/23 For Sale $3,999,900 -- --
Source: South Jersey Shore Regional MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2023 $34,171 $3,190,600 $3,190,600 $0
2022 $23,667 $2,300,000 $1,500,000 $800,000
2021 $23,115 $2,300,000 $1,500,000 $800,000
2020 $22,494 $2,300,000 $1,500,000 $800,000
2019 $22,241 $2,300,000 $1,500,000 $800,000
2018 $22,034 $2,300,000 $1,500,000 $800,000
2017 $21,689 $2,300,000 $1,500,000 $800,000
2016 $20,861 $2,300,000 $1,500,000 $800,000
2015 $20,585 $2,300,000 $1,500,000 $800,000
2014 $20,286 $2,300,000 $1,500,000 $800,000
Source: Public Records

Agents Affiliated with this Home

  • Peter Madden

    Seller's Agent in 2023

    Peter Madden

    GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY

    (609) 513-4781

    132 in this area

    153 Total Sales

    Peter Madden
    Section Image
  • Burton Wilkins

    Seller Co-Listing Agent in 2023

    Burton Wilkins

    GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY

    (609) 513-2500

    97 in this area

    182 Total Sales

    Burton Wilkins
    Section Image
  • DENISE KELLEY

    Buyer's Agent in 2023

    DENISE KELLEY

    BERGER REALTY-Main

    (609) 703-2706

    1 in this area

    1 Total Sale

    DENISE KELLEY
    Section Image
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Map

Source: South Jersey Shore Regional MLS

MLS Number: 575029

South Jersey Shore Regional MLS

APN: 08-01401-0000-00003

New Jersey Cape May County Ocean City 08226

1417 Ocean Ave Unit 1, Ocean City, NJ

Homes for Sale in Ocean City, NJ

This home is located at 1417 Ocean Ave Unit 1, Ocean City, NJ 08226 since 16 June 2023 and is currently priced at $4,756,000. This property was built in 1960. 1417 Ocean Ave Unit 1 is a home located in Cape May County with nearby schools including Ocean City Primary School, Ocean City Intermediate School, and Ocean City High School.

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