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
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