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552 Summit Street

William Broderick & Jason Pierce Sell Land In Englewood Cliffs For $3.3M
SOLDLand

William Broderick & Jason Pierce Sell Land In Englewood Cliffs For $3.3M

552 Summit Street

$3,300,000

Building Size

Asset Type

Land

Closing

Jun 26, 2024

AI

Vacant land at 552 Summit Street in Englewood Cliffs was sold for $3,300,000. The transaction was facilitated by William Broderick of Ridgeco Properties representing the buyer, and Jason Pierce of Prominent Properties Sotheby's International Realty representing the seller.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $3,300,000
  • Address: 552 Summit Street
  • Market: Englewood Cliffs

William Broderick from Ridgeco Properties served as the buyer's representative, while Jason Pierce from Prominent Properties Sotheby's International Realty acted as the seller's representative in the sale of the vacant land. Both parties played crucial roles in finalizing the transaction.

Players

William Broderick

Ridgeco Properties

Broker

$8.3M

vol

4 deals

Broker

Englewood Cliffs 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

4.81%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93