Corner-Lot New Construction STR With Instant Equity + Ocean Views

Property 101–107 Grant Ave, Seaside Heights, NJ New Construction Condo Units | 4BR Units + 1 Five-Bedroom Unit | Rooftop Decks + Ocean/Bay Views Represented by Jason Tarabokija, listing agent for Breezy, NJ Elite Group Client Goal The client wanted a cash-flowing short-term rental at the Jersey Shore that also served a bigger purpose: entering…

Property

101–107 Grant Ave, Seaside Heights, NJ

New Construction Condo Units | 4BR Units + 1 Five-Bedroom Unit | Rooftop Decks + Ocean/Bay Views

Represented by Jason Tarabokija, listing agent for Breezy, NJ Elite Group

Client Goal

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.

Breezy 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

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

Simple NOI Snapshot (Projected)

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)

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.

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