Updated Dec 21, 2023
Development Site In Asbury Park, NJ Sells For $2.2M
1001 1st Avenue, Asbury Park, NJ, USA
$2,175,000
$158/SF
Building Size
13,720 SF
Asset Type
Development Site
Closing
Jun 18, 2020
About this deal
AI
An undisclosed development site located at 1001 1st Avenue in Asbury Park, NJ, has been sold for a price of $2,175,000. The transaction took place on June 18, 2021, with brokers Fahri Ozturk, Richard Gatto, and Chez Eider facilitating the deal.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,175,000
- BSF: 120,333
- PPBSF: $18
- Address: 1001 1st Avenue, Asbury Park, NJ
- Market: Asbury Park, NJ
Although no additional details regarding the property's characteristics are available, the undisclosed development site boasts a sale price of $2,175,000 and a building square footage of 120,333. The offering price per building square footage is set at $18.
Players
Asbury Park Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.29%
Cash-on-Cash
-2.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93