Updated Dec 4, 2024
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
About this deal
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
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