OCNJ Local Home of the Week: Price Improvement on a Fully Renovated Ocean Reef Townhome
This week’s OCNJ Local Home of the Week revisits a familiar favorite with good news for buyers. The fully furnished, top-to-bottom renovated townhome at 5 Spinnaker Court in Ocean Reef is now priced at $749,900.
If you saw this home when we first featured it in August and thought, “maybe next year,” consider this your nudge. Everything that made it stand out is still here—it’s just more attainable now.
Renovated from the roof down
The owners went beyond cosmetic updates. The two-story townhome features all-new Andersen doors and windows, brand-new LVT flooring throughout, new appliances, and updated kitchen and bathroom cabinetry with new countertops. Custom window treatments complete the interior.
The exterior got the same attention, with new roofs, new decks, and a fresh coat of paint. For buyers, that means the big-ticket projects most people budget for in their first few years are already taken care of.
A layout that works for shore life
The main level centers around a welcoming living room with a fireplace that opens into the updated kitchen. A newly added full bath downstairs is a real plus after a day at the beach or pool, and keeps guests from having to head upstairs.
Upstairs, the laundry area has built-ins, a new washer and dryer, and a tankless water heater, so the hot water keeps up even when the whole family comes back sandy at once.
Comfort and convenience built in
Two private decks offer space for morning coffee and evening wind-downs. Gas heat and central air keep the home comfortable year-round. Two assigned parking spaces and extra storage address two of the island’s most common headaches.
The home is offered fully furnished, so it’s ready for a summer getaway, a rental investment, or a year-round residence from day one.
The Ocean Reef lifestyle
Ocean Reef residents enjoy two heated pools, a clubhouse, and refinished tennis and pickleball courts, plus easy access to the marina and the bay. It’s a quiet, tree-lined bayside setting that feels removed from the summer bustle, with the beach and Boardwalk still a short ride away.
See it in person
At $749,900, this is one of the more compelling ways into a turnkey Ocean City townhome this fall. To schedule a showing, contact Pete Madden, Broker/Owner at Goldcoast Sotheby’s International Realty.
- Direct / Mobile: (609) 513-4781
- Office: (609) 399-2500
- Email: pete@petemadden.com
- Office: Goldcoast Sotheby’s International Realty, 200 34th Street, Ocean City, NJ 08226
| Address | 5 Spinnaker Ct, Ocean City, NJ 08226 |
| Price | $749,900 (reduced from $799,900) |
| Status | For Sale (Active) |
| Bedrooms / Bathrooms | 2 / 2 full |
| Parking | Two assigned spaces |
| Heat / Cooling | Gas heat, central air |
| Included | Fully furnished |
| Community amenities | Two heated pools, clubhouse, tennis and pickleball courts, marina and bay access |
FAQ: Living at Ocean Reef
What is Ocean Reef? Ocean Reef is a bayside condominium and townhome community spanning roughly 22 acres in Ocean City. Built in the mid-1980s, it comprises nearly 200 one-, two-, and three-bedroom homes arranged in low-rise groupings along courts such as Spinnaker, Marlin, Wahoo, Genoa, and Breton, creating a village feel.
Where exactly is it? The community is a tree-lined enclave on the bay, just off Tennessee Avenue. It sits behind the Ocean City Municipal Airport and nearby sports fields, along the edge of the Riviera neighborhood.
How far is the beach and Boardwalk? The beach is just under a mile away, an easy bike ride or walk. The Boardwalk is a few minutes away.
What amenities are included with ownership? Enjoy two pools, a clubhouse, tennis and pickleball courts, and professional on-site management. Owners also mention covered bike storage, a kayak and paddleboard launch, and a bayfront walkway that’s especially popular at sunset. The clubhouse hosts community happy hours, barbecues, and holiday parties, and is available to rent for private events.
Can I keep a boat there? Ocean Reef has its own marina, and some units have been sold with a deeded boat slip. A municipal boat ramp is nearby, offering quick access to Great Egg Harbor Bay and the ocean. Slip availability varies, so check with the listing agent or association about current options.
Who handles the exterior upkeep? The condo association takes care of lawn care, snow removal, and the pools—a big reason owners describe it as low-maintenance living. At 5 Spinnaker Ct, the HOA fee also covers insurance, trash, and water.
Are pets allowed? Pet policies can vary and have changed over time, so check with the association for current rules. This listing has noted pets are allowed with restrictions.
Is it better suited as a summer home or a year-round home? It works well for both. Ocean Reef has a mix of full-time residents and seasonal owners, and many units serve as summer retreats or rentals. If you plan to rent, check the association’s rental rules before buying.
