Updated Dec 19, 2023
Sackman Realty's Patrick Schiavino Sells 1.14 Acre Residential Land In Asbury Park, NJ For $1.9M
2 Memorial Dr, Asbury Park, NJ, USA
$1,925,000
$59/SF
Building Size
32,234 SF
Asset Type
—
Closing
Apr 11, 2021
About this deal
AI
A residential land located at 2 Memorial Dr in Asbury Park, NJ has been sold for a price of $1,925,000. The property spans across 1.14 acres, resulting in a price per acre (PPA) of $1,688,596.
Summary of transaction details
- Property Type: Residential Land
- Transaction Amount: $1,925,000
- Acres: 1.14
- PPA: $1,688,596
- Broker: Patrick Schiavino - Sackman Realty
The deal was facilitated by Patrick Schiavino of Sackman Realty. This transaction represents a significant investment in the residential land market in Asbury Park, NJ.
Players
Neptune 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
8.24%
Cash-on-Cash
-2.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93