Raceway RE Partners announced on Thursday that it purchased the landmark Raceway Park property in Freehold, with early plans for mixed use that does not involve horse racing.
The sale price was not disclosed.
“This land holds generations of memories—an incredible 171 years of horse racing took place here—and we intend to honor that legacy while introducing a vibrant, exciting, and forward-thinking destination for all,” Jake Lebowitz of Raceway RE Partners said.
The iconic property is about a mile across Route 9 from the unaffiliated Freehold Raceway Mall.
The preliminary vision for the site includes multi-use retail, chef-driven dining, and a boutique hotel and social club—designed around walkability, family experience, and long-term community benefit. Raceway RE Partners is actively working with township leadership and local stakeholders to ensure that plans are shaped in a way that respects both the site’s historic significance and the needs of Freehold’s future.
Freehold Raceway ended harness horse racing at the end of last year.
“Raceway’s mission has always been to create more value both economically and socially within the community, so we can give more back—to our local charities, hospitals, police, firefighters, food banks, and more,” Lebowitz said. “We’re not just building for profit. We’re building for purpose.”
