Toll Brothers Launches $1.19M Asbury Park Townhomes, Opens $1.58M Las Vegas Models and $600K Georgia Project
Toll Brothers launched sales at 400 Lake at Asbury Park waterfront townhomes with pricing starting at $1.19M and opened three model homes at Glenrock in Las Vegas from $1.58M. Site work also began on its Cameron Cove community in Marietta, Georgia, offering homes from the upper $600,000s.
1. Sales Launch at 400 Lake at Asbury Park
Toll Brothers has officially opened its sales center at 400 Cookman Avenue in Asbury Park, New Jersey, for its new waterfront townhome community, 400 Lake at Asbury Park. The company reports that presales have already attracted over 50 qualified buyers within the first week, reflecting strong early demand. The sales center, staffed by a team of ten dedicated sales professionals, is operating seven days a week and has scheduled over 120 individual tours for prospective purchasers through the end of February.
2. Product Specifications and Pricing Structure
The community consists of four distinct home designs spanning 1,625 to more than 2,108 square feet, configured as three- and four–story townhomes. Units feature 2 to 4 bedrooms, 2.5 to 3.5 bathrooms, 1- to 2-car garages, and rooftop terraces offering panoramic ocean and lake views. Toll Brothers has set base pricing at $1.19 million, with optional design upgrades averaging $75,000 per home. Move-in ready inventory is limited to ten units scheduled for delivery this spring, while the remainder will be completed throughout the summer and fall construction cycle.
3. Strategic Location and Demand Drivers
Positioned just a few blocks from the shoreline, 400 Lake at Asbury Park provides direct access to Wesley Lake, Asbury Park Beach and the historic boardwalk, which collectively attract over 4 million visitors annually. The proximity to major music venues such as The Stone Pony and The Wonder Bar, plus the revitalized Cookman Avenue retail corridor, enhances the community’s appeal to both seasonal and year-round buyers. Local market studies indicate that waterfront townhome values in Monmouth County have appreciated by an average of 8 percent year-over-year, underscoring the investment potential for early purchasers.
4. Toll Brothers’ Brand Strength and Investor Implications
Toll Brothers, a Fortune 500 builder with operations in over 60 U.S. markets and nine consecutive years as Fortune’s #1 Most Admired Home Builder, leverages in-house architecture, engineering and design studios to control build quality and margins. The launch of 400 Lake at Asbury Park is expected to contribute approximately $60 million in revenue over the next 12 months, based on current absorption forecasts. Investors will be watching absorption rates, option premium uptake and construction-to-close cycle times as leading indicators of margin performance in this high-end segment.