Updated Sep 5, 2024
Mancini Realty Co. Inc. Acquires 0.30 Acre Land In Long Beach Twp For $5.9M
67 abc long beach
$5,900,000
Building Size
—
Asset Type
Land
Closing
Jul 26, 2023
About this deal
AI
Three oceanblock lots in Long Beach Township, NJ's gated compound were sold for $5.9 million. These subdivided and undeveloped lots in Loveladies have the potential to accommodate new homes exceeding 5,000 sq ft.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $5,900,000
- Address: 67-A,B,C Long Beach Boulevard
- Market: Long Beach Twp
- Asset Type: Land
- Acres: 0.30
The buyer's representative in this sale was Joseph Mancini of Mancini Realty Co. Inc., while the seller's representative was Craig Stefanoni from Berkshire Hathaway HomeServices Zack Shore Realtors.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93