In a sale that seemingly will bring an oceanfront hotel to Long Branch, an affiliate of Kushner Cos. purchased 36 Morris Ave. in Long Branch, completing a four-property parcel next to the Kushner-owned Lofts at Pier Village.
The property (0.4697 acres) was sold by a private company to PV Motel LLC, for $1.45 million. Jason Pucci, the chief operating officer of the Kislak Co., represented both parties in the transaction.
The nearly half-acre property sits at the corner of Ocean Boulevard and Morris Avenue immediately south of the Lofts at Pier Village and approximately 300 feet west of the Atlantic Ocean. It clears the nearly two-acre ocean block — from Ocean Boulevard along Morris Avenue to Ocean Avenue — for redevelopment.
In addition to 36 Morris Avenue, the assemblage includes:
- 34 Morris Ave.: 0.2765 acre, which sold in 2018;
- 170 Ocean Ave.: 0.3134 acre, which sold in 2018;
- 176 Ocean Ave.: 0.8022 acre, which sold in 2017.
Pucci said the sale should clear the way for a hotel.
“Since the beginning of our assignment, these properties have been a natural fit for Kushner, given their oceanfront location just south of Pier Village and Kushner’s strong presence in Long Branch,” he said. “Over the past 30 years, Kislak has closed more than 70 transactions with Kushner, and we are pleased to assist with their continued expansion in and redevelopment of Long Branch.”
Pucci said the assemblage is ideally located along the ocean between Pier Village and several new developments in one of the most desirable beachfront destinations along the Jersey Shore. Many new condominium and rental developments have recently been completed with more underway and planned.
