Margate’s most expensive home goes on the market for nearly $11M
The Rumson Avenue home is just one house off the oceanfront on a 75- by 80-foot oversized lot. It has seven bathrooms, including a Jack-and-Jill.
Homes in Margate can easily sell for $3 million to $5 million.
But a six-bedroom, 4,250-square-foot, beach-block home is up for sale at more that double that, making it the priciest home currently for sale in that Shore community, according to Zillow.
Listed at $10.9 million, the custom-built home at 112 S. Rumson Ave. is situated on an oversized lot with in-ground pool and ocean views, according to the listing by Rene Kane of Fox & Roach Realtors.
“It’s got a lot and a half. It’s very difficult to find a large lot on a beach block. Those are going to be few and far between,” Kane said. “And it’s on one of the prettiest streets in Margate with new homes all around it.”
Kane concedes that the property is “aggressively priced.” But the owner is willing to listen to offers.
“We’re seeing crazy things happen,” Kane said. “People want to be here. And people want what they want.”
The property in Margate’s Parkway section is one home away from the oceanfront on a 75- by 80-foot lot.
It has seven bathrooms, including a Jack and Jill.
A spiral staircase connects multiple entertaining spaces throughout the 20-year-old home and to a third-floor “retreat” with bedroom, full bath, and loft.
Several bedrooms feature balconies with ocean views, according to the listing.
Kane notes that the property has a rare outdoor space close to the beach, which includes a pool, entertainment areas, grilling area, grass yard, and sprinkler system.
The Mediterranean-style, stucco exterior home was inspired by the owners’ love of Palm Beach architecture. It has high arched front windows. The interior includes a den, dining room, laundry room, and living room warmed by a gas fireplace.
The exterior has been newly painted bright white, complemented by a pink front door, according to Kane. The property features new railings and a new gate.
Annual taxes are $42,209.
Only one other home is selling for anywhere near the Rumson Avenue property’s listing price, at $9 million, and is about two blocks from the beach.
Kane said the Rumson Avenue owners are selling “because it’s time to move on.”
She said prices have risen as other beaches like Avalon, Stone Harbor, Cape May, and even the Hamptons have priced many out of those markets.
“Margate offers a lot,” Kane said.