Updated Oct 29, 2024
Ocean City Crown Holdings LLC Acquires Office Building In Ocean City For $6.6M
801 Asbury Avenue, Ocean City, New Jersey 08226, United States
$6,600,000
Building Size
—
Asset Type
Office
Closing
Jan 24, 2023
About this deal
AI
Ocean City has witnessed a noteworthy transaction in its office real estate market. A property located at 801 Asbury Avenue has recently been sold for a total amount of $6,600,000. This office asset holds significant value in the market.
Summary of transation details
- Property Type: Office
- Transaction Amount: $6,600,000
- Date: 01/24/2023
- Market: Ocean City
- Buyer: Ocean City Crown Holdings LLC - Raj Khatiwala
Raj Khatiwala, representing Ocean City Crown Holdings LLC, has successfully acquired the aforementioned office property. This deal highlights the active involvement of key individuals and companies in the Ocean City real estate market.
Players
Ocean City Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93