facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New Jersey

/

Single Family Residence

/

Sale

/

2021 Wesley Avenue, Ocean C...

Howard & Stephanie Heiss Acquire SFR In Ocean City For $7.5M From Seller Anthony & Cheryl Conte
SOLDSingle Family Residence

Howard & Stephanie Heiss Acquire SFR In Ocean City For $7.5M From Seller Anthony & Cheryl Conte

2021 Wesley Avenue, Ocean City, New Jersey 08226, United States

$7,500,000

$1,415/SF

Building Size

5,300 SF

Asset Type

Single Family Residence

Closing

May 5, 2022

AI

The recently closed property transaction in Ocean City involved the sale of a single-family residential (SFR) property located at 2021 Wesley Ave. The transaction took place on May 6, 2022. The property spans approximately 5,300 square feet and was sold for a total price of $7,500,000 at an average price per square foot of $1,415.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $7,500,000
  • Address: 2021 Wesley Ave
  • Market: Ocean City

Howard & Stephanie Heiss purchased the property from Anthony & Cheryl Conte. The deal was facilitated by Burton Wilkins III, Emily Wilkins, and Burton Wilkins from Goldcoast Sotheby's International Realty.

With this successful transaction, the Heiss couple has acquired a valuable SFR property, providing them with a desirable asset in the Ocean City market.

Players

Burton Wilkins III

Sotheby's International Realty

Broker

$33.7M

vol

7 deals

Broker

Anthony Conte

Seller

$10.8M

vol

2 deals

Seller

Ocean City Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.12%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93