| The Asbury Park real estate market In Monmouth | | | | Ocean Ave and Cookman Ave., Asbury Park. Madison |
| County NJ continues to move ahead despite the | | | | Marquette is a multi billion dollar real estate |
| media's constant gloom and doom reporting. People | | | | development company with numerous high profile |
| fail to realize that the majority of foreclosures are | | | | luxury projects throughout the United States. They |
| not in the Jersey Shore area. Most of the national | | | | have partnered with Asbury Partners, the ocean |
| foreclosure statistics show the majority of | | | | front's master developer, to revitalize the Ocean |
| foreclosures in states like Ohio, Nevada and Florida. | | | | Front and the Boardwalk. This revitalization includes |
| Asbury Park real estate is strong and appreciating in | | | | the famous Ocean Front Convention Hall and the |
| value. There is no doubt that the closing in 2007 of | | | | Casino, both sites made famous by Bruce |
| the Esperanza oceanfront condominium project was | | | | Springsteen's music. In fact Bruce Springsteen still |
| disappointing to the oceanfront redevelopment | | | | practices in the Convention Hall prior to his tours. |
| effort, but it also has positive ramifications as well. | | | | Madison Marquette has already begun demolishing and |
| For instance, Asbury Park has close to 1,000 condos | | | | rebuilding the pavilions along the boardwalk. They |
| available for sale in the North Beach and Wesley | | | | have announced the "spectacular array of new and |
| Grove projects and also in the hundreds of | | | | newly expanded tenants" to open in the pavilions by |
| apartment building units and older hotel rooms that | | | | summer 2008. Such great Jersey Shore favorites |
| have been converted to condos in the last few | | | | that are coming to the boardwalk in Asbury Park are |
| years. The sales of these condo units are starting to | | | | Tim McLoone's Supper Club, currently operating in |
| pick up and the inventory of available units is | | | | Sea Bright and Long Branch New Jersey, Joe and |
| dropping. Some of the families that had deposits on | | | | Mike Cetrulo, operators of Scalini Fideli, Sirena and |
| units at the Esperanza have since bought other | | | | other top Italian restaurants in New York City and |
| housing in the city. One family who had planned to | | | | Long Branch New Jersey, and much more. Also, the |
| buy a million dollar plus condo has since bought an | | | | rock club the "Wonder Bar" at Ocean and 5th Ave |
| older Victorian home for $1,100,000.00 in the north | | | | will be reopening in addition to the world famous |
| east section of Asbury Park. There is a need for the | | | | "Stone Pony" nightclub where Bruce Springsteen and |
| current condo inventory to go down and it is | | | | Bon Jovi still perform and socialize. All things |
| happening. Another very positive sign is that Madison | | | | considered Asbury Park real estate is still a deal. |
| Marquette has been steadily expanding their role in | | | | Asbury Park real estate inventory is selling and as |
| the Asbury Park redevelopment. They have recently | | | | less is available the appreciation should continue. |
| taken over the final phases of development for the | | | | There has never been a better time to buy real |
| Wesley Grove residential and commercial complex at | | | | estate in Asbury Park, Monmouth County, NJ. |