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$5.7M LBI Property Tied To PA Fraud Case Hits Market $5.7M LBI Property Tied To PA Fraud Case Hits Market
$5.7M LBI Property Tied To PA Fraud Case Hits Market 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
Inside The Mansion Tax: Why Selling A House In New Jersey Just Got Way More Expensive Inside The Mansion Tax: Why Selling A House In New Jersey Just Got Way More Expensive
Inside The Mansion Tax: Why Selling A House In New Jersey Just Got 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