In the last eleven years the beachFRONT land has been gobbled up by condos and townhouses. There is just not much true beachfront left. Most of the houses in lovely Monmouth Beach actually sit across busy Ocean Avenue from the beach.
I used to live 4 houses down from this house - there are condos where i lived now, too. Call me if you'd like to have a strong negotiator work for you, but there's one thing for sure, the dirt is worth the bulk of the asking price. How much? Call me ;-)
Please keep in mind I am not defending the price . You really would need a complete comp analysis to determine if the price is fair. I am just trying to give you a sense of the rise in property values in the past 10 years.
If you want a more thorough property comparative analysis I can provide that free just email me
Hope that helps you.