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130 Montgomery Avenue

Paula Hartman And Todd Gordon Of BHHS Fox & Roach Sell Land In Atlantic City For $1.055M
SOLDLand

Paula Hartman And Todd Gordon Of BHHS Fox & Roach Sell Land In Atlantic City For $1.055M

130 Montgomery Avenue

$1,055,000

$206/SF

Building Size

5,100 SF

Asset Type

Land

Closing

Sep 25, 2024

AI

A land parcel at 130 South Montgomery Avenue in Atlantic City was sold for $1,055,000. This property measures 5,100 square feet, translating to a price per lot square foot of $207.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $1,055,000
  • Lot Size: 5,100 SF
  • Price per Lot Square Foot: $207
  • Market: Atlantic City

The sale was facilitated by brokers Paula Hartman and Todd Gordon, who represent Berkshire Hathaway HomeServices. A CAFRA-approved plan for a 4,500+ square foot home has already been commissioned for the site.

Players

Paula Hartman

Berkshire Hathaway HomeServices

Broker

$13.8M

vol

3 deals

Broker

Atlantic City Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

15.04%

Cash-on-Cash

-4.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93