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William Broderick & Jason Pierce Sell Land In Englewood Cliffs For $3.3M
SOLD
$3,300,000
New Jersey
See Similar DealsLand
Sold 06/26/2024
SOLD
William Broderick & Jason Pierce Sell Land In Englewood Cliffs For $3.3M
552 Summit Street
See Similar DealsLand
Sold 06/26/2024
Summary
NEW JERSEY
Asset Type:Land
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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