Updated Sep 9, 2024
Jeane Kuntz Acquires Harvey Cedars Land In $2.15M Deal
8204 Bay Terrace Harvey Cedars, NJ 08008, USA
$2,150,000
Building Size
—
Asset Type
Land
Closing
Aug 3, 2023
About this deal
AI
A bayfront lot located at 8204 Bay Terrace in Harvey Cedars, Long Beach Island, has been sold for a price of $2,150,000. The lot spans over 6,165 square feet, offering ample space for development. The property is situated in a prime location with stunning views of the bay and has obtained CAFRA (Coastal Area Facilities Review Act) approval for the construction of a 3,075 square foot single-family home. In addition to the residence, the approval includes plans for an in-ground pool and spa, a bulkhead, and a private dock. The cleared lot offers west-facing views, allowing residents to enjoy breathtaking sunsets each day. The approved boat slips with boat lifts enhance the property's convenience for boating enthusiasts.
Summary of transation details
- Property Type: Land
- Transaction Amount: $2,150,000
- Lot Size: 6,165 square feet
- Price per square foot: $349
- Market: Harvey Cedars
- Buyer's Representative: Jeane Kuntz - Keller Williams
- Seller's Representative: Craig Stefanoni - Berkshire Hathaway HomeServices
The buyer's representative in this transaction was Jeane Kuntz from Keller Williams, while Craig Stefanoni from Berkshire Hathaway HomeServices represented the seller. This successful deal highlights the expertise and negotiation skills of both parties involved. The purchase of this bayfront lot presents an exciting opportunity for the buyer to create their dream waterfront home, complete with stunning bay views, a private dock, and easy access to boating activities.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.38%
Cash-on-Cash
-2.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93