Ocean Views & Instant Equity: New Seaside Heights Rental

Corner-lot new construction condo building at 101–107 Grant Ave, Seaside Heights, NJ, featuring rooftop decks and ocean views, designed for short-term rental investment.

New construction condo units at 101–107 Grant Ave, Seaside Heights, NJ featuring 4-bedroom and one 5-bedroom unit with rooftop decks and ocean/bay views. Represented by Jason Tarabokija, listing agent for Breezy, NJ Elite Group.

Property Overview

The client wanted a cash-flowing short-term rental at the Jersey Shore that also served a bigger purpose: entering the hospitality space while building a long-term family legacy.

They originally focused on single-family homes, but pricing and competition made it difficult to hit cash-flow targets without overpaying.

Strategy

When a rare new construction condo project hit the market, Breezy shifted the strategy toward higher-performing inventory with better long-term fundamentals.

Key decisions:

Pivoted from single-family homes to new construction condo units for stronger revenue potential
Focused on a corner-lot location with ocean and bay views, plus rooftop balconies connecting all units
Targeted a purchase basis that would still work even under conservative underwriting
Secured units below market value, confirmed by appraisals coming in above purchase price
Prioritized new construction to reduce deferred maintenance risk and eliminate major near-term repair surprises
Leveraged professional interior design to create a "city-style" hospitality experience while still being steps from the beach

New construction condo building at 101–107 Grant Ave, Seaside Heights, featuring rooftop balconies, ocean views, and a corner-lot location, designed for short-term rentals.

Deal Summary

Property: 101–107 Grant Ave, Seaside Heights, NJ
Purchase Price: $3,200,000 (acquired at a discount from the $3,299,000 list price)
Financing: 20% down, 30-year mortgage @ 5.5%
Flood Zone: No (raised construction)

Note: Client put more than 20% down, so real-world cash flow is higher than the conservative snapshot below.

Financial Projections

Simple NOI Snapshot

Gross Short-Term Rental Revenue: $420,000 - Operating Expenses: - Turnover & Repairs (25%): $105,000 - Property Taxes: $20,544 - Insurance: $5,000 - Net Operating Income (NOI): $289,456 per year

Cash Flow (After Debt Service)

Loan Amount (80%): $2,560,000 - Estimated Annual Debt Service: ~$174,480 - Projected Annual Cash Flow: $114,976 annually ($9,580 per month)

Rooftop deck with seating area, offering ocean and bay views, at new construction short-term rental property in Seaside Heights, NJ.

Why This Deal Works

Strong cash flow without sacrificing location in a growing Seaside Heights market
New construction reduces maintenance surprises and protects operating margins
Professionally designed interiors create a premium guest experience and drive stronger nightly rates
No flood insurance required, keeping overhead lower and reducing risk
Instant equity at closing, confirmed by appraisals above purchase price
Rooftop decks and ocean/bay views create a "rare inventory" advantage that's hard to replicate

Takeaway

Instead of overpaying for an older beach-block home with unpredictable repairs, Breezy helped the client secure a new construction STR asset that produces real cash flow today, provides instant equity, and offers long-term legacy value in one of the strongest shore rental markets in New Jersey.