Updated Dec 4, 2024
Emma Piraino & Linda Novelli Facilitate $2.225M Land Sale In Ventnor City
6001 Winchester Avenue
$2,225,000
Building Size
—
Asset Type
Land
Closing
Apr 12, 2024
About this deal
AI
The prestigious waterfront lot at 6001 Winchester Avenue in Ventnor City has been sold for $2,225,000. The property boasts expansive dimensions, stunning bay views, and approvals in place to build a 7500+ square foot home with luxurious amenities and deep water boat docks. Situated in the St. Leonards Tract section, this property offers an unparalleled opportunity for a generational shore property.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,225,000
- Lot Size: 8,712 SF
- Price per Lot Square Foot: $255
- Address: 6001 Winchester Avenue
- Market: Ventnor City
Emma Piraino from Re/Max Platinum Properties represented the buyer in this transaction, while Linda Novelli from Compass served as the seller's representative. The acquisition of this waterfront property marks a significant deal in the real estate market of Ventnor City.
Ventnor City 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
7.13%
Cash-on-Cash
-2.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93