Record Breaking 6.5 Million Dollar Waterfront Sale in Cape May
A prime piece of Cape May waterfront just sold for a staggering 6.5 million dollars, and it is turning plenty of heads.
The deal ranks as one of the most significant real estate transactions in the city’s recent history and involves a rare 0.7 acre waterfront parcel on Yacht Avenue in Cape May’s highly sought after Marina District.
If you’re trying to picture where this is, it sits catty corner behind the Wawa, right in the middle of one of the most active boating areas in town.
Over the past few years, we have seen a major surge in projects here and this was one of the last empty lots in the Marina District.
What makes this sale so eye catching is not just the price tag, but what comes with the property.
The site is fully approved and dig ready, with plans already in place for a seven townhome condominium association paired with a private marina. In other words, whoever bought this is stepping into a project that is ready to move forward immediately.
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The approved plans include seven luxury townhomes, each with garage parking, along with between 17 and 23 boat slips.
There are also seven designated marina parking spaces, a marina bathroom facility, and seven overflow residential parking spots. Adding to the character of the property is an existing renovated historic home that will remain part of the site.
The Marina District has quickly become one of Cape May’s most desirable neighborhoods, especially for boaters and seasonal residents who want easy access to the harbor. That location alone goes a long way toward explaining the record setting sale price.
Future residents would be just steps away from some of Cape May’s most popular waterfront restaurants, including Lucky Bones and The Lobster House, making it a true walkable marina lifestyle.
While the approved seven unit development is the most straightforward path forward, the property also offers a rare alternative. Buyers could pursue a private luxury estate concept or even explore building two custom waterfront homes, depending on local approvals.
With expansive harbor views, room for private docks, and direct access to some of Cape May’s best boating waters, the site offers a blank canvas for a one of a kind waterfront retreat.
This sale does more than set a new benchmark for waterfront values in Cape May. It also signals continued confidence in the city’s long term appeal as one of New Jersey’s most desirable coastal destinations.
Would you want to live here?