Iconic Ocean City Institution Boyar's Market Faces New Chapter As Owners Retire

Boyar's Market Ocean City Sale charming facade

Boyar's Market: A Community Staple Faces Change

The owners of two Boyar's Markets in Ocean City, New Jersey, have made a momentous decision to close one location and list the other for sale as they approach retirement. Scott and Gail Ping, who have been at the helm for nearly four decades, have put the well-known market at 1340 Asbury Ave. on the market for $1.795 million, as confirmed by Jeff Quintin of eXp Realty. In addition, they have chosen not to renew the lease for their second location at 201 E. 55th St., marking the end of an era for this iconic local establishment.

Legacy and Community Impact

Founded in 1924 by Louis and Mary Boyar, the store started as a humble produce stand in front of their apartment and has evolved into a beloved fixture in the community. Over the years, Boyar's Market has adapted to changing customer preferences, offering a range of services from butcher shop and deli offerings to catering.

The Pings, who took the reins in 1986, have successfully built on this legacy, focusing on quality and customer service—a recipe that has garnered them a loyal following.

Unique Selling Points for Potential Buyers

With a commercial space significantly larger than the average Ocean City storefront, the sale of Boyar's Market presents a unique investment opportunity. Not only does it include the business itself, but it also boasts the kitchen and store equipment, allowing a new owner to step into a streamlined operation.

Quintin highlights the bustling downtown area and the potential for future revenue, noting that finding retail space of this size in Ocean City is a rare find.

Future Prospects

Interestingly, the Pings have stated they would prefer a buyer who intends to continue the legacy of Boyar's. However, they are open to selling the space to anyone with a new vision. As they prepare for their final summer season with the Asbury Avenue location, the Pings plan to remain operational until a buyer is found, ensuring customers can continue to enjoy their offerings.

Call to Action

This transition epitomizes the challenges of sustaining a family-run business while meeting modern demands. For potential buyers, this represents not just a commercial opportunity but a chance to carry on a cherished family legacy. Interested parties should actively explore this promising venture before it is taken off the market.

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