Richard Kurtz Sells 6-acre Single Family Property In Alpine, NJ For $27.5M Represented By Dennis McCormack - Prominent Properties Sotheby’s International Realty
SOLD
$27,500,000
New Jersey
See Similar DealsSingle Family Residence30,000 SF
Sold 01/25/2022
SOLD
Richard Kurtz Sells 6-acre Single Family Property In Alpine, NJ For $27.5M Represented By Dennis McCormack - Prominent Properties Sotheby’s International Realty
1 Frick Dr, Alpine, New Jersey 07620, United States
See Similar DealsSingle Family Residence30,000 SF
Sold 01/25/2022
Summary
NEW JERSEY
Asset Type:Single Family Residence
Price Per Square Foot:$916
Total Square Footage:30,000 SF
Transaction Type:Sale
A single-family property located at 1 Frick Dr in Alpine, NJ has been sold for a price of $27,500,000. The property spans across 6 acres and has a total square footage of 30,000. The selling price per square foot is calculated at $917.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $27,500,000
- Address: 1 Frick Dr, Alpine, NJ
- Market: Alpine, NJ
- Acreage: 6
The seller of the property is Richard Kurtz, representing Kamson Corp. The broker involved in the deal is Dennis McCormack, from Prominent Properties Sotheby’s International Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,466,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$97,701.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$130,364.03
Annual Debt Service$1,564,368.36
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