Stretched along the bank of the Navesink River is a largely undeveloped 17-acre waterfront estate, save for the existing residence and a pier extending into the river. The property has been privately owned for years, but the owners considered selling the prime land should the right buyer come along. While compensation for their property was important, the planned future use of the property when sold was equally crucial to the owners. They wanted to ensure the property’s legacy by maintaining its natural state while opening it for the public to enjoy. The owners turned to Rick Brodsky to help make their dreams come true.
Brodsky, who practices commercial and residential real estate law, began working with the owners several years ago to find a buyer to meet all their goals. As luck would have it, the county of Monmouth approached the sellers to begin discussing its possible purchase of the land. Rick started working closely with the owners, Monmouth County, and the Monmouth Conservation Foundation to ensure a smooth and beneficial transaction for all parties.
“This was a complex deal that has been years in the making,” Brodsky said. “But in the end, we reached an agreement that satisfied all parties involved.”
The 17-acre waterfront estate is on the Navesink River in Locust, New Jersey. The property is adjacent to Historic Hartland Place and will connect to Hartshorne Woods, an 800-acre peninsula park, giving park visitors access to the river. Under the terms of the sales agreement, the land use will be restricted to park use and be open to the public.
“I am proud to be able to play a role in the creation of this new park,” Brodsky said. “I am always hesitant to say a deal is a win-win, but in this case, I think it truly is. It’s great for the sellers, the county parks, and the public.”