Avalon Sees Jaw-Dropping $13 Million Bayfront Sale
The Jersey Shore’s luxury real estate market just witnessed a massive house sale.
A newly constructed bayfront estate at 481 42nd Street in Avalon has just sold for an incredible $13,197,000, making it one of the highest residential sales in Avalon’s history.
The sale underscores the continuing demand for ultra-luxury homes on 7 Mile Island, even as the broader housing market shows signs of cooling elsewhere.
Avalon Sees Jaw-Dropping $13 Million Bayfront Sale
A Closer Look at 481 42nd Street
Located on Avalon’s highly coveted “fingers” section, 481 42nd Street is a newly built modern coastal masterpiece designed to redefine waterfront living.
Built by Brandywine Developers with architecture by Asher Slaunwhite + Partners and interiors by Megan Gorelick, the home delivers a blend of design, craftsmanship, and comfort rarely seen even in Avalon’s luxury market, says the original listing.
The residence features 7 bedrooms, 7 full bathrooms, and 2 powder rooms, spanning over 6,400 square feet of interior space plus another 1,000+ square feet of covered decks.
The lot itself, measuring 60 x 155 feet (with uplands at 60 x 127), allows for sweeping, unobstructed views of the open bay.
The first floor welcomes you with a grand foyer filled with natural light that opens into a spacious family room complete with a custom fireplace and wet bar.
There’s a gym, two en-suite bedrooms including a custom-designed bunk room, and a large laundry and mudroom area. This level flows seamlessly outdoors to an expansive covered lounge with a fireplace, perfect for entertaining.
A dramatic double-height staircase lined with oversized windows, paired with an elevator, connects all three floors.
The second floor serves as the main living hub, offering a breathtaking open-concept design that merges the kitchen, dining, and living areas.
The chef’s kitchen, featuring Custom Cabinetry and top-of-the-line appliances, has a full walk-in pantry and bar area.
The entire space opens to a covered deck with panoramic bay views and motorized privacy screens.
The third floor is reserved for the primary suite, a luxurious retreat featuring dual vanities, dual water closets, two large custom closets, a private sauna, and even a built-in coffee bar. YES and built in coffee bar.
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There’s also a secondary laundry area and a seventh en-suite bedroom or office for added flexibility.
Outdoors, the luxury continues with a 26 x 12 saltwater spa pool, a sunken firepit lounge, and sleek marble decking that leads to a private dock capable of accommodating up to four boats depending on size.
Gas lines for outdoor grilling, a large two-car garage, and ample storage make the home as functional as it is stunning.
The Market Context: Why This Sale Turned Heads
To understand how monumental this sale is, you need to look at Avalon’s broader housing market.
According to Realtor.com, the median listing price for homes in Avalon sits around $3.75 million. Redfin puts the median sale price closer to $3 million, a number that makes this $13 million transaction more than quadruple the town’s average.
For context, in 2024, the original house on the lot was sold for $4,795,000
Even among Avalon’s elite bayfront homes, few come close.
For example, 538 42nd Street, another luxury bayfront property, sold in 2022 for $8.99 million, while 5 West 32nd Street closed in 2025 for $8 million. Nearby, 547 42nd Street, a 5-bedroom, 5-bath home with over 5,000 square feet, has an estimated value of about $7.2 million according to Zillow.
Elsewhere in town, most luxury properties trade in the $4 to $6 million range. Homes such as 12 East 17th Street and 188 34th Street recently sold for $4.7 million and $5 million, respectively.
Against that backdrop, the sale of 481 42nd Street represents a staggering leap in Avalon’s already competitive market.
What Drove the Price So High?
There are several key factors that explain why this home fetched such a premium:
1. Location. The “fingers” section is one of Avalon’s most exclusive neighborhoods, known for direct bay access and wide-water views.
2. Design pedigree. The collaboration between Brandywine Developers, Asher Slaunwhite Architects, and Megan Gorelick Interiors brought together some of the most respected names in the coastal luxury space.
3. Amenities. From the sauna and spa pool to the multiple decks, wet bars, and entertainment spaces, the property feels more like a boutique resort than a single-family home.
4. Scarcity. Very few homes in Avalon combine this scale, quality, and location. For ultra-wealthy buyers seeking a turnkey waterfront retreat, options like this are nearly impossible to find.
5. Timing. Even with rising interest rates, demand for high-end coastal homes has stayed strong as buyers view real estate in places like Avalon as both an investment and a lifestyle asset.
The grand question is, would you buy this house? With most homes selling for a fraction of this price, this sale shows that the ceiling for waterfront properties continues to rise.
It also highlights how Avalon has cemented its reputation as one of the East Coast’s premier destinations for luxury living.
Whether future listings will surpass this $13 million milestone remains to be seen, but for now, one thing is clear: Avalon’s waterfront market has officially entered a new era of exclusivity.
Now to find out who bought it so we can get an invite.