Saltbox LLC & Artemis Realty Acquires Land In Manalapan For $40M
1260 S Ocean Blvd, Manalapan, FL 33462
$40,000,000
Building Size
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Asset Type
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Closing
Mar 31, 2022
AI
The property involved in this transaction is a land located at 1260 South Ocean Boulevard in Manalapan. The sale took place on 04/01/2022, with the buyer being Saltbox LLC & Artemis Realty represented by Carolyn S. Nachmias, and the seller being Stewart A. Satter of Carnegie Hill Development. The buyer was represented by Jack Elkins from William Raveis Real Estate, while the seller was represented by Robert Preston from Carnegie Hill Realty. The transaction price for the sale was $40,000,000.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $40,000,000
- Address: 1260 South Ocean Boulevard, Manalapan
- Date: 04/01/2022
- Market: Manalapan
The key individuals and companies involved in this deal include Carolyn S. Nachmias representing Saltbox LLC & Artemis Realty as the buyer, and Stewart A. Satter representing Carnegie Hill Development as the seller. Jack Elkins from William Raveis Real Estate acted as the buyer's representative, while Robert Preston represented the seller from Carnegie Hill Realty.
Players
Ocean Ridge CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93