Two bold moves are reshaping New Jersey’s real estate landscape this summer—one on the coast in vibrant Asbury Park and the other in suburban Rockaway Township, Morris County. Both reflect the shifting energy and renewed investment flooding the Garden State’s property market.
A New Chapter for Asbury Park: 126-Unit Braverman Redevelopment Approved
One of Asbury Park’s most talked-about redevelopment efforts just took a major step forward. The city’s planning board has officially approved the transformation of the long-vacant Braverman Building on Memorial Drive into a five-story, mixed-use development that will deliver 126 new residential units, 2,000 square feet of ground-floor retail space, and parking for 131 vehicles.
Led by Washington D.C.-based developer Douglas Jemal and his firm Douglas Development, this project breathes new life into a structure with a layered history. The building once housed the Fischer Baking Company and later operated as a methadone clinic during the 1980s and ’90s. Now, it’s on track to become a central anchor in the heart of Asbury Park’s commercial corridor.
Here’s how the apartment mix breaks down:
- 67 studio units
- 26 one-bedroom apartments
- 7 two-bedroom apartments
- 26 affordable housing units (including 5 one-bedroom, 15 two-bedroom, and 6 three-bedroom units)
This development is more than just residential square footage—it’s a strategic move to bridge past and future. Originally, Jemal planned to demolish the existing structure and convert the site into retail space. But after zoning hurdles and evolving city plans, the vision shifted. The Asbury Park City Council approved a new redevelopment plan for the property in mid-2024, amending it again in early 2025. With the site plan finally approved in July, shovels could hit the ground soon.
This will mark Douglas Development’s first official project in Asbury Park, but the company has already left footprints in nearby Long Branch. In 2012, Jemal relocated two historic beachside homes to his Ocean Avenue property just months before Superstorm Sandy devastated their original location. His bold preservation move—and later controversial dealings with the Long Branch Planning Board—has made him a notable figure in Monmouth County real estate circles.
As Asbury Park continues its transformation from a once-sleepy shore town into a destination for art, culture, and innovation, the Braverman redevelopment underscores a broader renaissance—and a growing appetite for mixed-use urban investment in New Jersey.
Meanwhile in North Jersey: Rockaway Properties Return to Auction
While the Jersey Shore gets ready to welcome a new skyline, another real estate headline is developing up north. AW Properties Global, through its auction division AuctionWorks, has reintroduced a rare investment opportunity in Rockaway Township.
The auction block is once again open for 100% membership interest in ACPEJS LLC, the entity that holds title to 10 residential properties in Rockaway, NJ. This portfolio of homes is now available for bidders looking to break into—or expand within—the thriving northern New Jersey residential market.
For investors and developers keeping a close eye on Morris County’s residential dynamics, this is a chance to acquire multiple properties in one transaction. Whether it’s a play for long-term rental income, short-term renovation and resale, or a strategic land bank, the bundle offers flexibility and scale.
You can follow this auction and other current real estate opportunities across New Jersey by visiting our dedicated real estate section here: https://explorenewjersey.org/category/real-estate/
Real Estate is Booming from the Boardwalk to the Burbs
The revival of the Braverman Building and the relaunch of Rockaway’s housing auction are perfect examples of how New Jersey continues to evolve—north to south, coast to countryside. Developers like Douglas Jemal and firms like AW Properties Global are playing major roles in shaping what’s next.
Whether you’re watching Asbury Park rise into its next era or eyeing investment prospects in Morris County, the Garden State real estate market is full of momentum and opportunity.
For more real estate updates, development news, and opportunities across New Jersey, keep checking ExploreNewJersey.org.
