Island life on the Jersey Shore could be yours for just under $3 million.
There is a house for sale on the famous West Point Island of Lavalette. The five-bedroom, three-bathroom home is located on the bayfront of Pershing Boulevard and is priced at $2.95 million.
With about 300 to 400 homes, the half-moon-shaped lot is the site of a modern mansion that Joe Pesci once sold for $6.5 million. Pesci’s former home has been demolished and the land is on the market for his $3.2 million.
According to a 2005 NY Times article, many new homes were built on the island between 1999 and 2001. Too much power infrastructure couldn’t keep up with demand and had to be rewired.
Today, most homes there are worth well over $1 million.
“There are a lot of famous people who have homes on the island,” said David Lazarus of Keller Williams Shore Properties, which lists the $2.95 million home.
It is currently one of two existing homes for sale on the island.
“It’s hard because there’s no supply anywhere and Bayfront is limited to ‘X’ houses,” he said. “It’s a very exclusive and desired area.”
The home has a wall of windows on both floors to allow you to take in the views of the bay. The fifth bedroom is unfinished and has a separate entrance so it can be a private suite or entertainment room. I’m here. There is a dock that can accommodate multiple boats and a 12′ x 10′ 20,000 lb boat lift.
West Point Island also has a private beach and a playground.
Any tips on the New Jersey real estate market? Unusual listings? Bigger sale than you’d like? A tender war story? Inventory problem? Affordability issues? tell us.
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To contact Allison Pryce: [email protected].