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8204 Bay Terrace Harvey Ced...

Updated Sep 9, 2024

Jeane Kuntz Acquires Harvey Cedars Land In $2.15M Deal
SOLDLand

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

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

Craig Stefanoni

Berkshire Hathaway HomeServices

Broker

$16.8M

vol

4 deals

Broker

New Jersey Land Market Snapshot

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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

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