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NJ Mini Golf Course Tied To $17M Fraud Case Hits Market For $5.7M NJ Mini Golf Course Tied To $17M Fraud Case Hits Market For $5.7M
NJ Mini Golf Course Tied To $17M Fraud Case Hits Market For $5.7M A well-known Long Beach Island property home to a popular mini golf course is now on the market for $5.7 million. Jen’s Links at Lighthouse Cove, located at 501 Broadway in Barnegat Light, sits on more than 1.18 acres of bayfront land in the center of the borough, the listing shows. The property, reffered to in the listing as Lighthouse Cove at Barnegat Light, can be purchased with the current 36-hole mini golf business or has the potential for development with up to seven prime single-family lots, according to the listing.  The property's former Pennsylvania owner, Scott Mas…

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by Cecilia Levine
Real Estate
NJ Mansion Tax: Lawmakers Just Quietly Passed A New Bill That Makes Selling Way More Expensive NJ Mansion Tax: Lawmakers Just Quietly Passed A New Bill That Makes Selling Way More Expensive
NJ Mansion Tax: Lawmakers Just Quietly Passed A New Bill That Makes Selling Way More Expensive New Jersey’s luxury real estate market was thrown into turmoil after lawmakers passed a sweeping mansion tax bill on Monday, June 30, shifting the state’s high-end realty transfer fee from buyers to sellers and adding steep new tiers up to 3.5%. Under the new law, Assembly Bill 5804, sellers of homes over $1 million will absorb what had historically been a 1% buyer-paid fee, with significant increases for higher-value properties. The rates for sellers rises to: 2% over $2 million 2.5% over $2.5 million 3% over $3 million 3.5% over $3.5 million That means a seller of a $4 million home will …

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by Cecilia Levine
Business
Proposed Hotels, Upscale Restaurant Will Transform Vacant Cherry Hill Land Proposed Hotels, Upscale Restaurant Will Transform Vacant Cherry Hill Land
Proposed Hotels, Upscale Restaurant Will Transform Vacant Cherry Hill Land Two hotels and a restaurant will be built on a largely vacant strip of land in Cherry Hill, officials said. The 11-acre site contains a Magic Car Wash, former gas station and quarry. It's considered a prime location for development because it's on Route 70 West just 11 miles from Philadelphia. The project includes two five-story hotels: a 120-room Hampton Inn & Suites and 131-room Residence Inn by Marriott, according to plans by KM Hotels of Richmond, VA, the developer. There will be a small "upscale" restaurant with a full-scale bar, KM Hotels said in its proposal. “The zoning b…

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by Jon Craig