One of Stone Harbor’s last beachfront cottages sells for $10 million, a 1,420% increase from its last sale

There’s not much room for “quaint” listings in the Jersey Shore real estate world these days.

In Stone Harbor, a 3-bedroom, beachfront bungalow built in 1954, just sold for a whopping $10 million. The pastel home, which had a brief cameo in the final scenes of the 1993 Oscar-winning movie Philadelphia, was one of the last beachfront bungalows in the Cape May County resort town, real estate agent Jack Vizzard said.

And there’s a good chance it won’t see another summer.

“I believe the new owner is talking to an architect,” Vizzard, who represented the owner and buyer, told The Inquirer.

The home, on 111th Street, overlooks the dunes that protect the town from the Atlantic Ocean, and Vizzard said a new owner would likely go higher for better views. The new owner, he said, has chosen to remain private, but Vizzard said the cottage was not purchased by a neighbor who wanted to protect their own view.

The former owners, Vizzard said, were getting older and wanted to make a change. Tax records show it was purchased in 1993 for $658,000, making the $10 million sale a 1,420% increase.

Vizzard said he didn’t know how the home wound up making a cameo in the Tom Hanks movie, but imagined it had some connection to a crew member in the city or on the Main Line.

Stone Harbor and neighboring Avalon have some of the hottest real estate markets in New Jersey, with beach and bayfront homes regularly reaching eight figures. The slow disappearance of smaller homes, particularly on the beach, is part of the modern market, Vizzard said.

“There’s only about 200 beachfront homes here, so when they go up for sale, it’s a big deal,” he said. “People build bigger now to maximize the space.”

Vizzard said he didn’t know if the new owner had plans to save or move the cottage — which can be done — or simply tear it down.