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Vinit Nagda Of EXP Realty Represents Buyer In 1.5 Acre Princeton Land Sale For $1.12M
SOLDLand

Vinit Nagda Of EXP Realty Represents Buyer In 1.5 Acre Princeton Land Sale For $1.12M

$1,121,585

Building Size

Asset Type

Land

Closing

Aug 8, 2024

AI

13 Prentice Lane is a land asset located in Princeton, covering 1.5 acres. This property was sold for $1,121,585. The land consists of seven wooded lots, approved and ready for development, allowing for custom-built homes on a private cul-de-sac.

Summary of transaction details:

This transaction involved Landmark Companies developing the site for custom-built homes. Buyers are allowed to select their own architects and builders for construction.

Players

Susan DiMeglio

Sotheby's International Realty

Broker

$3.5M

vol

3 deals

Broker

Market 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

14.14%

Cash-on-Cash

-4.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93