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59b Hickory Lane

Prominent Properties Sotheby's International Realty Sells Land Property In Closter For $1,150,000
SOLDLand

Prominent Properties Sotheby's International Realty Sells Land Property In Closter For $1,150,000

59b Hickory Lane

$1,150,000

Building Size

Asset Type

Land

Closing

Oct 16, 2023

AI

A land property at 59b Hickory Lane in Closter, New Jersey, was recently sold for $1,150,000. The transaction took place on October 16, 2023. This piece of land is located in the charming market of Closter, offering potential for development or investment purposes.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $1,150,000
  • Address: 59b Hickory Lane, Closter, New Jersey
  • Market: Closter

The buyer, Avia Blum, from Coldwell Banker, represented the purchasing party, while Jason Pierce and Richard Orlando, from Prominent Properties Sotheby's International Realty, acted as the seller's representatives. Avia Blum's expertise in the real estate market played a crucial role in successfully closing this deal.

This sale demonstrates the value and potential of this land property on Hickory Lane, presenting a promising opportunity for the buyer. The involvement of experienced professionals like Avia Blum, Jason Pierce, and Richard Orlando showcases the level of expertise and professionalism in the real estate industry.

Players

Jason Pierce

Sotheby's International Realty

Broker

$56M

vol

8 deals

Broker

Closter 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

13.79%

Cash-on-Cash

-3.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93