Updated Dec 4, 2024
Jason Tarabokija Of NJ Elite Group Represents Buyer In $3.2M Seaside Heights Multifamily Sale
101 Grant Avenue
$3,200,000
$266/SF
Building Size
12,000 SF
Asset Type
MultiFamily
Closing
Oct 4, 2024
About this deal
AI
A new construction multifamily development located at 101 Grant Avenue in Seaside Heights has been sold for $3.2 million, which represents a price per square foot of $267. The property spans 12,000 square feet and consists of four upscale townhomes, each featuring luxury amenities and ocean views, making it ideal for Airbnb rentals.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,200,000
- Units: 4
- Price Per Unit: $800,000
- Square Footage: 12,000
- Price Per Square Foot: $267
This transaction involved Jason Tarabokija of NJ Elite Group representing the buyer and Michael Loundy of Seaside Heights Realty representing the seller. Their expertise facilitated the closing of this multifamily property transaction.
On the Map
$3,200,000
$266/SF
MultiFamily
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Seaside Heights MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93