Walters Homes Acquires Development Site In Harvey Cedars For $14.75M With Joy Bearden As Buyer's Rep

The property asset involved in the transaction is a development site located at 7202 Long Beach Boulevard in Harvey Cedars, NJ, covering nearly three acres. The site was sold for $14,750,000 and is part of the Maris Stella Retreat and Conference Center, which sits on an oceanfront parcel. The buyer, Walters Homes, plans to develop six single-family vacation homes on the site, with prices ranging from $4.5 million to $8 million. The anticipated completion of the project is expected in two years.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $14,750,000
• Address: 7202 Long Beach Boulevard
• Market: Harvey Cedars, NJ
• Acres: 3
• Buyer: Walters Homes
• Seller: Maris Stella - Sisters of Charity of Saint Elizabeth
• Buyer's Representative: Joy Bearden - Keller Williams Realty
• Seller's Representative: Jeffrey Childers - Childers Sotheby's International Realty

In this transaction, Walters Homes, under the representation of Joy Bearden from Keller Williams Realty, has engaged in acquiring the property from Maris Stella, represented by Jeffrey Childers of Childers Sotheby's International Realty. This deal signifies a strategic move for Walters Homes, aiming to capitalize on the development of vacation homes in a prime location.