UPPER FREEHOLD, NJ-Toll Brothers is in negotiations with the owners of the 130-acre Cream Ridge Golf Club to buy the property, which would be redeveloped as a residential project. Toll is eyeing a 400-unit seniors multifamily housing community on the site. The company has nine other projects in Monmouth County, all of them of the single-family variety.

The golf club is owned by the family of William E. Miscoski, who’s also a township committeeman. It was founded by his father, and has been on and off the for-sale market for close to 20 years. According to Miscoski, his family is looking to sell it because it’s no longer competitive with the county-owned golf courses that have opened around it.

Toll Brothers’ plans for the site are very preliminary, pending its sale, according to company officials. According to Miscoski, the property would need a zoning change from its current agricultural/residential designation for Toll’s project to get done. Preliminary plans also call for Toll to donate about 50 acres to the local school district, which has embarked on a capital expansion program.

Toll Brothers has a number of urban-market projects in the works for New Jersey. The firm is teaming with Apollo Real Estate Advisors to convert the 525-unit Hudson Tea Building apartments in Hoboken to luxury condominiums. The complex consists of two 12-story buildings with 13-foot ceilings totaling approximately 540,000 sf on 3.9 acres. Formerly the Lipton Tea Co. manufacturing site, the buildings were substantially renovated and converted to rental apartments in 2000 by the previous owner.

The company is also teaming with the Pinnacle Group for another Hoboken project, Maxwell Place, which will ultimately total more than 830 luxury condos, 206,000 sf of commercial space, 1,500 parking spaces and a number of amenities. This project is on the site of a former Maxwell House coffee plant.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.