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Scott Heagney Purchases Development Site From Weiss Realty In Fort Lee For $1.8M
SOLD
$1,800,000
New Jersey
See Similar DealsDevelopment Site13,700 SF
Sold 09/09/2025
SOLD
Scott Heagney Purchases Development Site From Weiss Realty In Fort Lee For $1.8M
2130 Center Avenue
See Similar DealsDevelopment Site13,700 SF
Sold 09/09/2025
Summary
NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$131
Total Square Footage:13,700 SF
Transaction Type:Sale
A 13,700-square-foot multifamily development site located at 2130 Center Avenue in Fort Lee, N.J., was sold for $1.8 million. The development site is approved for 24 units and is situated within a notable market area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,800,000
- Square Footage: 13,700
- Address: 2130 Center Avenue
- Market: Fort Lee
- Price per Square Foot: $131
- Buyer: Scott Heagney
- Seller: Weiss Realty
- Broker: Bruce Elia - Keller Williams Realty
In this transaction, Bruce Elia represented both the seller, Weiss Realty, and the buyer, Scott Heagney, facilitating the sale of the development site in Fort Lee, New Jersey.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$96,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02
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