Pacaso Launches Innovative Luxury Second Home Co-ownership Platform in Coastal New Jersey

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May 04, 2022, 09:00 ET

AVALON, N.J., May 4, 2022 /PRNewswire/ -- Pacaso, the leading technology-enabled real estate marketplace that helps people buy and co-own a luxury second home, today announced that it has expanded its service to the New Jersey beach cities. Pacaso offers buyers the unique opportunity to co-own 1/8 to 1/2 of a contemporary second home.

The bright second-floor great room of Pacaso's first New Jersey listing has vaulted ceilings, a wet bar with a beverage fridge, and multiple glass doors that open to a deep wraparound deck with ocean views. The chef’s kitchen features Sub-Zero and Wolf appliances, and quartz countertops, backsplash and a waterfall island. Completing the second floor are two guest bedrooms with en suite bathrooms, a powder room and a walk-in pantry.

"With 127 miles of coastline stretching from north to south, the Jersey Shore is a beautiful escape in close proximity to many gateway cities such as Philadelphia and New York City, and we're excited to offer a new solution for people looking to purchase a second home here," said Pacaso Co-Founder and CEO Austin Allison. "With Pacaso, families can up-level their buying power in New Jersey beach communities through co-ownership of a luxury second home. Not only does this make more efficient use of housing stock, but it also redirects second home buyers away from the mid-tier market."

Pacaso's first listing on the New Jersey coastline is located in Avalon, one block from the iconic 7 Mile Beach and a short walk to the heart of town. Situated on a large corner lot, the six-bedroom, eight-bathroom beach house is an elegant new construction home with a private pool, a cabana, two outdoor showers and a wraparound deck with panoramic ocean views. The three-level home features a chef's kitchen, vaulted ceilings, and light-drenched interiors to provide comfortable gathering spaces for the ultimate in beachside living.

"When I saw Pacaso launch in 2020, I contacted them immediately because I knew they would be a perfect fit for the Avalon market and for the New Jersey Shore as a whole. Pacaso brings the dream of second home ownership to so many people, and they make it simple," said Joe Butler of A. Lewis Purdy Real Estate Inc. "I have so many clients who rent for an extended period of time and would rather own, but don't want to worry about maintenance or upkeep. Pacaso's hands-on management allows you to relax while on vacation and not have to worry about anything. I am thrilled to introduce New Jersey to co-ownership via Pacaso!"

Pacaso partners with all interested real estate agents and brokerages in markets where it operates. Real estate agents representing buyers who purchase a share of a Pacaso home receive a 3% referral commission, plus Pacaso equity in the form of 500 RSUs. Agents in New Jersey who are interested in working with Pacaso can learn more on the company's website.

To see all available homes, please visit the Pacaso website.

About Pacaso

Pacaso^® is a technology-enabled marketplace that modernizes real estate co-ownership to make owning a second home possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso operates in more than 35 top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.

Learn more about Pacaso and view listings at Pacaso.com and connect with @PacasoHomes on Instagram and Twitter.

SOURCE Pacaso