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Mancini Realty Co. Inc. Acquires 0.30 Acre Land In Long Beach Twp For $5.9M

Property Image
SOLD
$5,900,000
Craig Stefanoni
Joseph Mancini

California

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Property Image
SOLD

Mancini Realty Co. Inc. Acquires 0.30 Acre Land In Long Beach Twp For $5.9M

67 abc long beach

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Land
Sold
Craig Stefanoni
Joseph Mancini
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Land
Transaction Type:Sale

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

Craig Stefanoni
Berkshire Hathaway HomeServices
Craig Stefanoni
4 deals$16.8M volume
BROKER
Joseph Mancini
Mancini Realty Co. Inc.
Joseph Mancini
2 deals$8.4M volume(609) 492-2256
BROKER

Details

SOLD
IMAGE: Joseph Mancini & Craig Stefanoni DATE: 07/26/2023 ADDRESS: 67-A,B,C Long Beach Boulevard MARKET: Long Beach Twp ASSET TYPE: Land ~ ACRES: 0.30 BUYER'S REP: Joseph Mancini - Mancini Realty Co. Inc. (@ManciniRealtylbi) SELLER'S REP: Craig Stefanoni (@CraigStefanoni) - Berkshire Hathaway HomeServices Zack Shore Realtors SALE PRICE: $5,900,000 NOTE: Three oceanblock lots in Long Beach Township, NJ's gated compound were sold for $5.9 million. Subdivided and undeveloped, these lots in Loveladies can accommodate 5,000+ sq ft new homes.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$314,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,961.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,969.01
Annual Debt Service$335,628.12