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
Mantoloking Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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