Scott Heagney Purchases Development Site From Weiss Realty In Fort Lee For $1.8M
2130 Center Avenue
$1,800,000
$131/SF
Building Size
13,700 SF
Asset Type
Development Site
Closing
Sep 9, 2025
AI
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.
Players
Fort Lee 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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93