Updated Sep 9, 2024
Waterfront Property In Rumson Sells For $2.55M With Architectural Plans By Robert Adler
14 Rivers Edge Dr Rumson, NJ 07760, USA
$2,550,000
Building Size
—
Asset Type
Land
Closing
Sep 6, 2023
About this deal
AI
A waterfront property in Rumson, New Jersey, located at 14 Rivers Edge Drive, has been sold for $2.55 million. The property spans 1.03 acres and includes architectural plans by renowned architect Robert Adler. Additionally, a newly constructed dock with riparian rights is also part of the parcel. The buyer now has the opportunity to build their dream home with panoramic westerly views on the Shrewsbury River.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $2,550,000
- Address: 14 Rivers Edge Drive
- Market: Rumson
- Acres: 1.03
Kerrin O'Brien, representing O'Brien Realty, LLC, facilitated the sale of this waterfront property. The deal showcases the excellent negotiation skills and expertise of Kerrin O'Brien in the real estate market.
Players
Rumson Land Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93