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2158 Ocean Dr, Avalon, NJ 0...

Berkshire Hathaway Acquires Avalon Land For $3.5M
SOLDLand

Berkshire Hathaway Acquires Avalon Land For $3.5M

2158 Ocean Dr, Avalon, NJ 08202

$3,527,744

Building Size

Asset Type

Land

Closing

Jul 21, 2023

AI

Located at 2158 Ocean Drive in Avalon, this property offers a prime opportunity to build a dream bayfront home. With a 60'x110' lot size, this land provides ample space for a 4200 square foot single-family home or two townhomes. The property features desirable bayfront living, complete with two boat slips. Its convenient location near town, restaurants, and shops adds to the appeal of this waterfront property.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $3,527,744
  • Date: 07/21/2023
  • Market: Avalon
  • Buyer's Representative: Paul Sudell - Ferguson Dechert
  • Seller's Representative: Jack Vizzard - Berkshire Hathaway HomeServices

In this sale transaction, both buyer and seller were well-represented. Paul Sudell, from Ferguson Dechert, served as the buyer's representative, ensuring their interests were protected throughout the deal. Jack Vizzard, from Berkshire Hathaway HomeServices, acted as the seller's representative, facilitating the seamless transfer of this bayfront property. With their expertise and guidance, the transaction was successfully completed.

Players

John Vizzard

Berkshire Hathaway HomeServices

Broker

$21.6M

vol

5 deals

Broker

New Jersey 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

4.50%

Cash-on-Cash

-1.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93