A fully approved 52-unit multifamily development site in Freehold Borough is scheduled to be auctioned next month, offering a shovel-ready opportunity in one of Monmouth County’s fastest-growing residential corridors, real estate services firm Colliers announced Tuesday.
Located at 200 Park Avenue, the ±1.47-acre property will be auctioned online via the Ten-X platform from August 24–26, 2026. The listing is being exclusively marketed by a Colliers team led by Vice Chair Jacklene Chesler, Senior Vice President Patrick Norris and Transaction Manager Brittany Leventoff.
The approved municipal plans allow for the construction of a four-story residential building comprising 32 one-bedroom, 18 two-bedroom, and two three-bedroom apartments. The development layout includes 101 parking spaces—surpassing local zoning requirements—and future ownership may qualify for a five-year municipal tax exemption and abatement.
The site is positioned directly across from the 57-acre Freehold Raceway redevelopment, a massive mixed-use project poised to bring new retail, hospitality, and entertainment to the borough’s downtown peripheries. The location is also less than a mile from downtown Freehold’s main commercial district and the local NJ Transit station, which provides direct commuter bus service to Manhattan.
“Fully approved multifamily development sites of this scale are increasingly difficult to find in Monmouth County,” Chesler said. “200 Park Avenue offers buyers the rare opportunity to bypass the lengthy entitlement process and immediately pursue development in a borough benefiting from significant public and private investment.”
The upcoming auction comes during a prolonged real estate surge in Western Monmouth County, where limited inventory and strong commuter demand have driven an average annual rent growth of 5.6% over the last five years, outpacing much of the state.
