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21 Raintree Court

Exit Realty East Coast Represents Buyer In $1.25M Holmdel Land Sale
SOLDLand

Exit Realty East Coast Represents Buyer In $1.25M Holmdel Land Sale

21 Raintree Court

$1,250,000

Building Size

Asset Type

Land

Closing

Sep 14, 2023

AI

A prime 11.5-acre land parcel in Holmdel, New Jersey, has recently been sold for $1,250,000. This expansive property offers the opportunity to create a custom-built dream estate. Located in a prestigious neighborhood with rolling land, mature trees, a stocked pond, and natural beauty, the land offers privacy and tranquility. Additionally, its proximity to top schools and transportation options adds to its appeal.

Summary of Transaction Details

  • Property Type: Land
  • Transaction Amount: $1,250,000
  • Address: 21 Raintree Court, Holmdel, New Jersey
  • Market: Holmdel
  • Asset Type: Land
  • Acres: 11.50

This transaction was facilitated by Gerine Skamarak, representing the buyer through EXIT Realty East Coast. On the seller's side, Michael Sclafani from RE/MAX Central acted as the seller's representative. Both individuals are highly experienced in the real estate industry and played crucial roles in the successful completion of this deal.

Players

Michael Sclafani

Re/Max

Broker

$1.3M

vol

3 deals

Broker

Holmdel 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

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93