Joe Pesci gets $6.5 million for Lavallette shore mansion

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LAVALLETTE, NJ – Actor Joe Pesci is the latest high-profile person to ditch his assets in New Jersey, selling his Barnegat Bay waterfront mansion for his $6.5 million asking price. The home was put on the market in 2019. The 7,000 square foot home was on the market for two years.

Last July Pesci and his neighbors were embroiled in a neighborhood dispute with one of their neighbors who built a massive dock leading Pesci to chime in saying, “It’s too big.”

“I have owned the residential property at 91 Pershing Boulevard on West Point Island in Lavallette since 1990. My property is on Barnegat Bay and includes a standard-sized dock that extends approximately 120 feet into the water. I am writing to state my strong opposition to two applications currently pending before the NJ Department of Environmental Protection, filed by nearby homeowners seeking to extend their docks approximately 300 feet into the Bay,” Pesci said. “More than doubling the length of these docks undoubtedly would block views of the Bay currently enjoyed by other area homeowners. More importantly, these extensions also would force boaters, kayakers and paddlers in this area – which include children in addition to adults- to operate in waters far from land and, accordingly, in the wakes of large watercraft This is exactly what happened after the Department approved a similar extension to the dock at 83 Pershing Boulevard in or about 2018. That extension, which I continue to oppose, has impaired northern views of the Bay from my property, has negatively impacted the routes that boats travel when navigating the Bay, and has made the Bay less safe. If the Department approves the pending applications, it will only encourage other owners in this area to seek similar harmful extensions. As a 30-year resident of West Point Island, l respectfully ask the Department to take the opportunity to stop this trend now by denying the pending applications, before it is too late. Please feel free to share this letter with any relevant members of the Department.”

Now, that big dock is somebody else’s problem.

Pesci’s home would have been subject to additional taxation under President Joe Biden’s “Build Back Better” agenda bill which is so far floundering on Capitol Hill. Pesci bought the home for $850,000 in 1994. He could have been subjected to pay nearly $2,000,000 in capital gains tax on the property, but in 2018 he sold the home to a living trust in his name for $10.

Taxes on the home are $23,516.56 annually.