In 1987 the owner of the building was the famous comedian Don Rickles. Don Rickles sold the building by converting 55 Monroe Blvd from a rental building to a Co-Op. 55 Monroe Blvd also known as Ocean Terrace is located in the East end of Long Beach, NY. 55 Monroe Blvd has gone through a major renovation in the past year and the building looks great.
The building offers studios, one bedroom and two bedroom units. There are a few oceanfront units in the building and most of the units have terraces. Most apartments have ocean views and many also offer magnificent views to the north. On a clear day you can actually see the New York City skyline. According to the latest comparable sales in the building, prices range from about $200,000 for a studio and up the mid $300,000 range for a two bedroom with a waterfront view.
55 Monroe Blvd is one of the few buildings in Long Beach, NY that is totally dog friendly. I personally am not very good at remembering names but I know the faces of most of the residents, but seem to have no problem remembering the names of the many dogs in the building.
Although there is no pool in the building, 55 Monroe Blvd does have laundry rooms on each floor, a newly renovated gym, which is free of charge, and also a newly renovated party room which can be rented out for private parties and has unbelievable panoramic views. There are storage units, which can be rented out to owners who need a little more space. There are also bicycle racks in the garage.
The location of 55 Monroe Blvd is also amazing. The building is located on the corner of Shore Rd and East Broadway and the boardwalk is definitely a major attraction in town. From the front of the building to the entrance ramp of the boardwalk is only a few hundred feet away. You can basically roll out of bed and can be bicycling, jogging or just walking in seconds.
The interesting thing about 55 Monroe Blvd is that it has quite the reputation of being a building where countless couples have met in the building and have eventually married. Locals actually refer to the building as the “Love Building” due to the fact that so many people have met in the building and eventually married.
On a more serious note, the financials on the building are also very solid. The board of 55 Monroe Blvd is fiscally responsible. They have done a great job in building the financial security of the building and they are extremely fair in their approval process but they have standards and they want to make sure that a potential buyer in their building has the financial ability to make their payments.
So if you are looking for a great place to live in Long Beach, NY, you should definitely consider taking a look at the Co-Op located at 55 Monroe Blvd called Ocean Terrace.