A sleep beach town in New Jersey is rebranding as a luxury travel destination. Thanks to the condo market, business is booming.

Developers are seeing to build more than 130 residences at the Atlantic Club in Long Branch, New Jersey. Source: Williams New York By Paulina Cachero December 10, 2024 at 5:50 PM EST Updated on December 11, 2024 at 10:01 AM EST A luxury condo project on the Jersey Shore secured more than $250 million in debt and equity financing as the developers seek to build more than 130 residences. The financing deal for the Atlantic Club includes $214 million in debt from Madison Realty Capital and Unity Capital to build the oceanfront project in Long Branch, New Jersey, according to Roy Stillman, president of Stillman Development International. The project started sales in late 2023, and recently notched a record with a penthouse transaction going for $5.95 million — the most expensive condo sale in New Jersey’s Monmouth County, according to Stillman. The new development is located just under 60 miles (97 kilometers) from New York City, in a beachfront city where Bruce Springsteen was born. It’s part of a larger makeover on Jersey Shore real estate in recent years. Kushner Cos., the real estate firm formerly run by Donald Trump’s son-in-law Jared Kushner, is developing a major project just a few blocks away at Pier Village, a beachfront area with stores, restaurants, hotels and residences. The Atlantic Club is being developed by an entity backed by Stillman Development International, Surrey Equities and Gotham City Real Estate. The project will feature two residential towers and more than 75,000 square feet (6,970 square meters) of indoor and outdoor amenities. The project is expected to open to residents at the end of 2026. The residences range from one-to-five bedroom units. Amenities include a yoga studio, music practice room and business center. “There is an untapped demand for a world-class condominium experience here on the Jersey Shore and the project’s sales velocity bears this out,” Stillman said in a statement. About a third of the project has pre-sold already, Stillman said. The developers have demolished the old structure on the property and are working to secure building permits, he added. “With the closing of the financing, we’re prepared to get in ground immediately,” Stillman said.

By Adeline Duff Updated on March 5, 2023

Episode 9 on The Billion Dollar Banker Podcast interviews Roy Stillman, President of Stillman Development International. 

By Diana Firtea May 28, 2024  Roy Stillman shares details about his latest project and expands on what is fueling demand for condo product in the state. The luxury market has proven quite resilient over the past few years. After a short dip in the wake of the pandemic, condo demand quickly rebounded fueled by buyers’ need for more space. Today, projects located in smaller cities near large urban centers, are sought-after investments. In Long Branch, N.J., a 132-unit luxury condo project is set to rise on the oceanfront, catering to high-income buyers looking for upscale residences that provide easy access to New York City. The developer behind the high-rise that is set to be completed in 2026 is 390 Ocean LLC, which comprises owners from Stillman Development International, Surrey Equities, and Gotham City Real Estate Services. In an exclusive interview with Multi-Housing News, Stillman Development President Roy Stillman talks about his company’s new condominium development and dives into what is fueling demand across the broader luxury market in New Jersey. Tell us more about the vision behind The Atlantic Club. How are sales going so far? Stillman: Our vision for The Atlantic Club is to deliver a meticulously crafted residential enclave inspired by beach serenity and charm but with a sophisticated sense of style and elegance. We decided to embark on a new development in Long Branch because of its convenient location, prime shopping, robust entertainment options and fine dining. The project sits on one of the last existing development sites of oceanfront land and is unique because of its vast frontage and nearly 4-acre size. It is a spectacular and unique site. Our main focus when designing the building was to create as many homes as possible with direct or nearly direct views of the ocean. We are very proud of our accomplishments because 128 out of our 132 homes have direct or nearly direct views of the ocean. Additionally, each home has large balconies or terraces which allow residents to enjoy the views and fresh air from the privacy of their home. We are currently heavily active in sales, in fact, we just announced the sales of both penthouse units. The Atlantic Club is slated to break ground this spring, and we cannot wait to deliver a resort-style living experience to the community of Long Branch. Tell us more about the elements that will make The Atlantic Club stand out among other luxury residences along the Jersey Shore. Stillman: The 75,000 square feet of indoor and outdoor amenity space at The Atlantic Club far surpasses other buildings located in Monmouth County, N.J. Included in the amenity space is an expansive pool deck with sunbeds, fire pits and barbecue grills; a fitness center with dedicated studios for spinning, cardio, yoga, and weight training; a business center; a wellness center; a game room with billiards and poker; a dedicated virtual reality game room and sports simulator; billiards, card room, cinema; Grand Lounge with ocean views, private party room, pet spa, music practice room and a children’s playroom. Additionally, each residence will boast high-end features and finishes, making every unit a prize. The design will include white oak-style flooring, recessed lighting, high ceilings with floor-to-ceiling windows, custom cabinetry, state-of-the-art integrated kitchen appliances, and bathroom spaces with imported porcelain marble. What’s the buyer pool you’re targeting? Who will be living at The Atlantic Club? Stillman: The buyers at the Atlantic Club span the Tri-State area. Most of our buyers are from Monmouth County, Northern New Jersey, Pennsylvania and New York City. Residents range from their 30s to 70s and are either families eager to experience a summer at Long Branch or semi-retired older couples. These buyers desire resort-style living with luxury entertainment environments and high-end conveniences… Art seems to be an important part of this residential project. Why is that? Stillman: A real estate project is like a large sculpture that takes a lifetime of travel, visiting museums and finding inspiration to bring to life. To create a building that will evoke emotion in its users, tenants and visitors, developers need to incorporate art in every aspect. We envisioned a project with unique artistic touches throughout, harkening back to a past sense of opulence and grandeur on the Shore. When residents first walk in, they will be greeted by a 3,000-square-foot lobby with a marquee entrance that rises to a height of more than 18 feet and features soaring, tailored glass and textile installations inspired by the ocean’s sense of fluidity and dynamism. The lobby’s vision will be curated by Cristina Grajales, owner of the famed Cristina Grajales Gallery, who will not only reimagine the lobby into a gallery but the building as a whole. Cristina has also engaged Christophe Côme, a notable French glass sculptor, and Jorge Lizarazo of the Hechizoo atelier, both of whom have their work featured in Chanel stores throughout the world. These artists have created new works specifically for the project. It’s no secret that the economic context and the financial landscape are quite difficult. Have you encountered any challenges until now? Stillman: The luxury multifamily market is seeing a lack of inventory, making the properties available in high demand. In New Jersey specifically, we are seeing inventory so low that despite interest rates, 12.5 percent of homes in New Jersey have sold above the listing price. With median home sales rising over 8 percent year-over-year, luxury buyers are proving that the New Jersey market still has a lot of growth potential. On the Jersey Shore, high-net-worth buyers are beginning to seek amenities and conveniences typically found in condos in New York or Miami. In Long Branch, an area known for its beaches, entertainment and dining, we are seeing a shift toward luxury developments. Overall, Monmouth County has long been a desirable place to live, and The Atlantic Club stands out as a one-of-one property in this region. Are there any specific strategies that you employ to ensure that your luxury developments align with market demand and stand out in a competitive landscape? Stillman: Our feeling is that there is always a demand for the best work. The Atlantic Club’s design aesthetic, amenities and proximity to the beach make it stand out among a burgeoning crop of luxury at the Jersey Shore, but it is also a project that could only exist here. The aesthetic and feel of the project are deeply tied to its oceanfront location on the Shore and the sophistication of New York’s high-rise market. What trends do you expect to shape the New Jersey luxury market going forward? Stillman: For the luxury market in New Jersey, we are seeing a rise in pieds-a-terre and, globally, in resort-style, turnkey residences that remove friction from buyers’ busy lives. New Jersey has long been a natural next step for those looking to migrate out of New York City, but the high-net-worth buyer is looking for a home with resort-style amenities, which is why single-family homes may not be best suited for this. Today’s luxury buyer wants the conveniences and perks that a luxury development offers, particularly as luxury buyers increasingly own multiple ‘second homes.’ In particular, high-net-worth buyers are finding more investment and lifestyle upside in real estate on the Shore, particularly in Monmouth County, where you can see Manhattan across the bay but still have pristine beaches. By ferry, car, or train, New Yorkers can get to the Jersey Shore in just over an hour—and towns like Asbury Park, Long Branch and Sea Bright, among many others, offer a livelier scene and upscale dining options. To meet the demand, the Shore is seeing unprecedentedly elevated condos coming to market, as New Yorkers want beach homes that have views of the ocean—a hard thing to find along the East Coast—but are also turnkey and feel like a resort.

Buyer plunks down $6M at Stillman’s Atlantic Club 

By Nyah Marshall | NJ Advance Media for NJ.com Developers have started building a luxury, resort-style condominium complex in Long Branch on one of the last remaining oceanfront plots in Monmouth County, the owners announced this week. The Atlantic Club, located at 390 Ocean Ave., will include 132 homes, including two penthouses, and 75,000 square feet of indoor and outdoor amenities. Construction is expected to be complete by the summer of 2026, according to the developers. Two 4,246-square-foot, five-bedroom penthouses will be built on the property. They will feature full views of the ocean, private balconies and terraces. Both have already been sold, officials said. One penthouse was recently sold for $5.95 million, breaking local records as the highest-priced condo sale ever in Long Branch, the developer said Thursday. “Our vision for The Atlantic Club was to create a development that rises to the level of art and something that the Jersey Shore has never seen before,” Roy Stillman, president of Stillman Development International, one of the owners of the property, said in a statement. Stillman is a New-York based developer that partnered with other firms to purchase the property. The Atlantic Club will have “a Manhattan-level of luxury,” featuring art and sculptures curated by renowned artists, the developers said. Condos will range from 993 to 4,246 square feet, have high ceilings, expansive windows and one to five bedrooms each. The complex will include a fitness center, business center, game room, virtual reality room, cinema, pet spa and children’s playroom. Before contractors purchased the land, two vacant buildings from the former Sea View Towers apartment complex stood there. They were demolished following a failed code inspection in 2020, city officials reported at the time. Developers did not disclose how much the The Atlantic Club project will cost to build. The condo complex is part of a large building boom in Long Branch in recent years. Other major housing developments have started construction this year, including a downtown redevelopment project on Broadway that was 20 years in the making. The $130 million project, driven by Kushner, a New York-based real estate and development firm, will include nearly 300 apartments and retail shops, including a SuperFresh grocery market and a neighborhood café. 

The Atlantic Club, a new oceanfront luxury condominium in Long Branch slated for completion in summer 2026, is now officially under construction, according to a Tuesday announcement from 390 Ocean Owner LLC, the owner behind the project. Located at 390 Ocean Ave., the artistic, resort-style residences along the ocean will deliver two condominiums, 132 one- to five-bedroom residences, two penthouses, more than 75,000 square feet of indoor and outdoor amenities and an elevated level of art and design unprecedented for the local market. One penthouse recently broke the condo sale record for the Monmouth County town with a contract of $5.95 million. "The groundbreaking of the Atlantic Club is a substantial step toward delivering art, design (and) a resort-style lifestyle that will elevate what is possible for the residential market on the Jersey Shore," Roy Stillman, president of Stillman Development International LLC, said. "The groundbreaking also signifies the appreciable demand we're seeing in this curated, art-driven development with design inspired by the beach." The Atlantic Club's residences will range from 993 to 4,246 square feet, offering spacious, sun-lit layouts with balconies and terraces, and many offering unobstructed views of the Atlantic Ocean. Each residence will house high ceilings, oak-style flooring, recessed lighting, Water Street Brass hardware and expansive windows inviting the oceanscape inside. The bathrooms are similarly well-appointed, featuring custom vanities with Watermark polished chrome fittings and accessories, Kohler fixtures and floors and showers clad in imported, large-format porcelain tiles. The turn-key resort-style living experience at the Atlantic Club is reflected by its extensive amenity collection focused on wellness and entertaining, consisting of a fitness center with dedicated studios for spinning, cardio, yoga and weight training; a full business center; a game room with billiards and poker; a dedicated virtual reality room and sports simulator; a cinema; a pet spa; and a charming children's playroom. The Atlantic Club will deliver a Manhattan-level of luxury with art curated by Cristina Grajales, owner of the famed Cristina Grajales Gallery in TriBeCa, to create a gallery aesthetic throughout the condominium. Grajales also engaged Christophe Come, a renowned French glass sculptor whose work is featured in Chanel stores around the world, and the Hechizoo atelier's Jorge Lizarazo, one of the world's leading textile and tapestry artists, to create new works commissioned specifically for the project.

The Atlantic Club is bringing luxury living to the shore in Long Branch. In April, the last penthouse at the forthcoming building sold for a record-breaking $5.95 million. Located at 390-392 Ocean Ave. N., the Atlantic Club announced the contracted sale April 24. The transaction is the highest-priced condo sale in Long Branch history, according to the property. Teresa Minnick of Christie's International Real Estate Group brokered the deal. Closings for the property, as well as its opening, are expected in April 2026. Penthouses at the 132-unit development total 4,246 square feet and offer unobstructed 360-degree views of the Atlantic Ocean. In addition to a private balcony and terrace, the suite includes five bedrooms and five full bathrooms and a powder room. Remaining units range from one-to-five bedrooms. "Our vision for The Atlantic Club was to create a development that rises to the level of art and something that the Jersey Shore has never seen before," said Stillman Development International LLC President Roy Stillman. "On one of the last plots of available land on the coastline, The Atlantic Club stands out as exceptional, and the penthouses deliver a truly unparalleled level of resort-style luxury." The property will offer 75,000 square feet of indoor and outdoor amenities. Highlights include: Pool deck with sunbeds, fire fits and barbecue grills Fitness center with dedicated spin, cardio and yoga studios as well as weight training Full business center Game room Dedicated virtual reality and sport simulator room Cinema Pet spa Children's playroom "There has been a renaissance at the Jersey Shore, particularly in Monmouth County, over the past few years, that has been coupled with a high demand for luxury living," Minnick said. "Even among a booming luxury high rise market on The Shore, The Atlantic Club stands out as the most distinguished address in the area. There isn't another location that offers this level of amenities and beachfront access." There isn't another for now, perhaps. Kushner started work in March to revitalize the Lower Broadway section of Long Branch. The $130 million, 299-unit mixed-use project will also incorporate a grocery store. The Atlantic Club sales gallery is located at 48 Pavilion Ave. in Long Branch.