Updated Mar 3, 2025
SMS Minebrook LLC Acquires Development Site In Bernardsville For $1.94M From 106 Minebrook Road 07964 LLC
106 Minebrook Road
$1,940,000
Lot Size
23,000 SF
Asset Type
Development Site
Closing
Dec 1, 2024
About this deal
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.
On the Map
$1,940,000
Development Site
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Players
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