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13 Oak Tree Ln, Rumson, NJ,...

RE/MAX The Real Estate Leaders Acquires Residential Land In Rumson For $2.995M
SOLDDevelopment Site

RE/MAX The Real Estate Leaders Acquires Residential Land In Rumson For $2.995M

13 Oak Tree Ln, Rumson, NJ, USA

$2,995,000

$50/SF

Building Size

58,806 SF

Asset Type

Development Site

Closing

Mar 21, 2021

AI

A residential land located at 13 Oak Tree Ln in Rumson has been sold for $2,995,000. This property, spanning over 1.11 acres, was listed at an approximate price per acre of $2,698,198.

Summary of transaction details

  • Property Type: Residential Land
  • Transaction Amount: $2,995,000
  • Address: 13 Oak Tree Ln, Rumson
  • Market: Rumson
  • Acres: 1.11
  • Price per Acre: $2,698,198

Pamela Girard and Philip Rotchford from Berkshire Hathaway HomeServices Fox & Roach represented the seller, while Lindsey Elliott from RE/MAX The Real Estate Leaders represented the buyer.

Players

Lindsey Elliott

Re/Max

Broker

$3M

vol

1 deal

Broker

Rumson 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

5.30%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93