MONROE

Setting new heights – the successful development of Monroe brought in an unparalleled level of residential architecture to the Asbury Park waterfront, creating a link back to a period of time in the City’s past where more thoughtful architectural design was prevalent across the community. The 34-unit condominium project, under the creative direction of Anda Andrei (11 Howard, Royalton, Gramercy Park Hotel, Delano), and world-renowned architect Chad Oppenheim (Ten Museum Park in Miami; Net Metropolis in Manila, Philippines), was completed in June 2017. iStar used this opportunity to introduce new design concepts such as expansive interior spaces, outdoor decks and modern elements that would later be carried to future residential projects. 

Monroe was successful in attracting a new consumer to Asbury Park and achieving record sales prices at the time for residential real estate in the local market. The project also introduced the New York buyer to the relative value of the Asbury Park market and built momentum for future sales of Asbury Ocean Club Surfside Resort & Residences. This development was part of a broader strategy to diversify the residential housing offering, expand the consumer base, and establish a firm foundation for follow on projects.