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106 Minebrook Road

SMS Minebrook LLC Acquires Development Site In Bernardsville For $1.94M From 106 Minebrook Road 07964 LLC
SOLDDevelopment Site

SMS Minebrook LLC Acquires Development Site In Bernardsville For $1.94M From 106 Minebrook Road 07964 LLC

106 Minebrook Road

$1,940,000

Building Size

Asset Type

Development Site

Closing

Dec 1, 2024

AI

The property asset involved in this transaction is a development site located at 106 Minebrook Road in Bernardsville. The transaction took place on December 1, 2024, and was completed for a total price of $1,940,000.00.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,940,000.00
  • Address: 106 Minebrook Road
  • Market: Bernardsville
  • Buyer: SMS Minebrook LLC
  • Seller: 106 Minebrook Road 07964 LLC
  • Broker: Chris Vitiello - Grid Real Estate

This transaction was facilitated by Broker Chris Vitiello representing the buyer, SMS Minebrook LLC, in their acquisition from the seller, 106 Minebrook Road 07964 LLC. The collaboration between the involved parties showcases the roles played by professional representation in property transactions.

Players

Chris Vitiello

Grid Real Estate

Broker

$12.3M

vol

11 deals

Broker
SL
SMS Minebrook LLCBuyer
1L
106 Minebrook Road 07964 LLCSeller

Bernardsville 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

8.18%

Cash-on-Cash

-2.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93