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1207 Ocean Ave, Mantoloking...

Lawrence Greenberg Acquires Development Site On 1207 Ocean Ave, Mantoloking For $3.7M
SOLDDevelopment Site

Lawrence Greenberg Acquires Development Site On 1207 Ocean Ave, Mantoloking For $3.7M

1207 Ocean Ave, Mantoloking, NJ, USA

$3,699,000

$6,444/SF

Building Size

574 SF

Asset Type

Development Site

Closing

Feb 9, 2021

AI

Located at 1207 Ocean Ave in Mantoloking, this development site was recently sold in a closed transaction. The property spans a total of 0.84 acres, offering ample space for potential development opportunities. The deal was facilitated by Lawrence Greenberg of M. Van Sciver Realtors, acting as the buyer's representative, and Keavy Franzoni of Oceanside Realty, representing the seller. With a sale price of $3,699,000, this transaction highlights the value and potential of this prime development site.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $3,699,000
  • Address: 1207 Ocean Ave, Mantoloking
  • Market: Mantoloking
  • Acres: 0.84

Lawrence Greenberg, from M. Van Sciver Realtors, represented the buyer in this deal, ensuring their interests were represented and the transaction proceeded smoothly. On the other side, Keavy Franzoni, from Oceanside Realty, worked diligently as the seller's representative, negotiating the terms and ensuring a successful sale. This transaction demonstrates the importance of experienced and knowledgeable brokers in completing real estate deals.

Players

Lawrence Greenberg

M. Van Sciver Realtors

Broker

$24.9M

vol

7 deals

Broker

Mantoloking 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

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93