Brian Giancola Sells Land On Reading Ave In Cape May For $2.4M
SOLD
$2,400,000
New Jersey
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SOLD
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
See Similar DealsSold
Summary
NEW JERSEY
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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