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A humble Jersey Shore beach cottage recently sold for a record-breaking $10 million.
The 3-bedroom, 2-bathroom, 1,225-square-foot oceanfront abode, in Stone Harbor located in Cape May County, was built in 1954.
Tax records show its prior sale in 1993 was recorded at $658,000, making this purchase a staggering 1,420% increase, according to the Philadelphia Inquirer.
“It’s a crazy number,” Jack Vizzard of Berkshire Hathaway HomeServices Fox & Roach Realtors, who represented both the seller and the buyer, told NJ.com.
The owner of the home, who resides in Washington, D.C., first put it on the market in 2019 for $7.95 million and then removed the listing due to the pandemic.
When he was ready to sell again, Vizzard already had a buyer in mind who was looking for an oceanfront property. “I called him … and he wrote a check for $10 million,” he continued.
The new owner, who wishes to remain anonymous, has plans to knock the residence down and build something new in its place, and is already consulting with an architect.
The home on 111th Street — which was featured briefly in the 1993 Oscar-winning film “Philadelphia” — sits across the street from the convent Sisters, Servants of the Immaculate Heart of Mary — and has an ideal view of the Atlantic Ocean.
“It’s one of the best oceanfront views on the island because the convent across the street sits back 150 yards from the beach, giving the owner no neighbor to the south and sweeping 270-degree views,” Vizzard told Philadelphia Magazine.
“It’s actually a bargain at $10 million,” he said.