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Cushman & Wakefield Arranges Sale of 170-Unit Multifamily Building at the Jersey Shore for $113M

Elise Maguire Ferrara • 5/29/2025

Long Branch, N.J. – May 29, 2025 – Cushman & Wakefield announced that the real estate services firm arranged the sale of Ocean Gate, a 170-unit multifamily property in Long Branch, New Jersey. The two-building complex, located at 30 Ocean Boulevard, traded for $113,000,000.  

Ocean Gate Apartments.jpg

Cushman & Wakefield’s Niko Nicolaou, Ryan Dowd, JP Hohl, and Alexandria Ebers represented the seller, Ocean Cooper Revitalization LLC, as well as the buyer, Lincoln Equities, in the transaction. Lincoln Equities partnered with RWN Real Estate Partners and Avenue Realty Capital to acquire the asset. 

“Ocean Gate is a highly amenitized property located in one of the fastest-growing areas of Monmouth County, which is what attracted Lincoln Equities to this asset,” said Nicolaou. “With the highly anticipated development of Netflix’s East Coast campus nearby, along with the recent and continued expansion of the Monmouth Medical Center, there is no doubt that the population of Monmouth County will continue to grow. And with a limited supply of single-family homes, a luxury multifamily asset like Ocean Gate can capitalize on the increasing demand for housing.” 

Originally built as a condominium, Ocean Gate opened in 2023 and offers a mix of luxury one-, two- and three-bedroom apartments. The community offers an expansive amenity collection that includes a fitness center; pickleball and volleyball courts; a clubhouse with a lounge, a party room, a catering kitchen and a co-working space; as well as a sundeck with a heated pool, a tiki bar, cabanas, and private grilling and dining areas. 

“We are extremely excited about the acquisition of Ocean Gate. Long Branch and Monmouth County as a whole continue to see remarkable growth and demand,” said Lance Bergstein, CEO at Lincoln Equities. “This site presents a unique opportunity to offer luxury condominium living that blends beach-front tranquility with city-style amenities at an accessible entry price point—making it an ideal option for both primary residents and second-home buyers looking to enjoy the best of the Jersey Shore.” 

Located a short walk from the beach, Ocean Gate is proximate to some of the best dining, shopping and entertainment venues in Monmouth County, and is situated just south of the popular Pier Village mixed-use community. Nearby mass transit options include the Long Branch NJ Transit Station and multiple SeaStreak ferry terminals located along the coast, providing service to the East and West sides of Manhattan, as well as Jersey City.  

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture.  For additional information, visit www.cushmanwakefield.com.

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