Gzz doesn’t understand the market in the area. He thought a house a block off Neptune in Leucadia was walking distance to beach when in reality walking to the beach would require trespassing on someone’s property and jumping off a two hundred foot cliff to get there. A mile east is nothing like two hundred yards from an undeveloped state beach. Take what he said with a grain of salt.
This will have zero impact on property values or the market. It will bring a class of high end rental properties to a beautiful relatively undeveloped portion of the coast. It should be a premium product at a premium price. That many units could take a while to rent out but a well heeled company like that who knows the market won’t rush and will take the time needed. While locals particularly long timers like me don’t love that the beach area is getting more developed from a broader view it should be a net positive
