facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New Jersey

/

Land

/

Sale

/

14 2nd Drive

Mark Grimes & Hugh Merkle Close $2M Land Deal In Stone Harbor
SOLDLand

Mark Grimes & Hugh Merkle Close $2M Land Deal In Stone Harbor

14 2nd Drive

$2,000,000

Building Size

Asset Type

Land

Closing

Jun 3, 2024

AI

14 2nd Drive, a bay front lot in Stone Harbor Manor, was sold for $2,000,000 in a recent transaction. Mark Grimes of Berkshire Hathaway HomeServices Fox & Roach represented the buyer, while Hugh Merkle of Compass represented the seller.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $2,000,000
  • Address: 14 2nd Drive
  • Market: Stone Harbor
  • Buyer's Rep: Mark Grimes - Berkshire Hathaway HomeServices Fox & Roach
  • Seller's Rep: Hugh Merkle - Compass

Mark Grimes from Berkshire Hathaway HomeServices Fox & Roach acted as the buyer's representative, while Hugh Merkle of Compass represented the seller in the sale of the bay front lot at 14 2nd Drive, Stone Harbor Manor.

Players

Mark Grimes

Berkshire Hathaway HomeServices

Broker

$4.3M

vol

3 deals

Broker

Stone Harbor Land Market Snapshot

Boundary boundary · Land · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93