Updated Dec 21, 2023
Monihan Realty Acquires Ocean City Condo On Wesley Ave For $4.9M
2639 Wesley Avenue, Ocean City, New Jersey 08226, United States
$4,900,000
$2,041/SF
Building Size
2,400 SF
Asset Type
—
Closing
Apr 7, 2022
About this deal
AI
A condominium unit located at 2639 Wesley Ave in Ocean City has been sold for a price of $4,900,000. The property is a spacious 2,400 square feet in size, with a price-per-square-foot of $2,042. The sale was facilitated by Christopher Monihan of Monihan Realty Inc.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $4,900,000
- Address: 2639 Wesley Ave
- Market: Ocean City
- Square Footage: 2,400 sqft
- Price per Square Foot: $2,042
Christopher Monihan of Monihan Realty Inc. played a key role as the broker in this transaction. With their expertise, the sale of the condo was successfully completed.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93