Updated Dec 21, 2023
Brian Giancola Sells Land On Reading Ave In Cape May For $2.4M
16 Reading Avenue, Cape May Court House, New Jersey 08210, United States
$2,400,000
Building Size
—
Asset Type
—
Closing
Sep 14, 2022
About this deal
AI
The property transaction involved the sale of a land asset located at 16 Reading Ave in Cape May. The sale took place on September 15, 2022, and the property was purchased for a total price of $2,400,000. The buyer's representative in the deal was Stacy Hutchinson from deSatnick Real Estate LLC, while the seller's representative was Brian Giancola from RE/MAX Surfside.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $2,400,000
- Address: 16 Reading Ave, Cape May
- Market: Cape May
Brian Giancola represented the seller in this transaction, while the buyer was represented by Stacy Hutchinson from deSatnick Real Estate LLC. The sale of this land asset marks a significant transaction in the Cape May market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93