Updated Sep 9, 2024
Stone Harbor Single Family Sells For Record-Breaking $12M
8808 1st Ave, Stone Harbor, NJ 08247
$12,000,000
$2,526/SF
Building Size
4,750 SF
Asset Type
Single Family Residence
Closing
May 31, 2023
About this deal
AI
A new oceanfront house in Stone Harbor, New Jersey, recently sold for a record-breaking price of $12 million. This sale marks the highest recorded single-family property sale in the town. The property, located at 8808 First Avenue, is a single-family home with a total area of 4,750 square feet. With a price per square foot of $2,526, the house offers luxurious living space for its new owners. The lot spans 9,250 square feet, translating to a price per lot square footage of $1,297.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $12,000,000
- Date: 05/31/2023
- Market: Stone Harbor
- Buyer's Representative: Diller & Fisher Realtors
- Seller's Representative: Nicholas Giuffre - Compass
This successful transaction was overseen by Diller & Fisher Realtors, who represented the buyer, and Nicholas Giuffre of Compass, who represented the seller. Their expertise and guidance played a crucial role in finalizing the sale of this remarkable oceanfront property.
Players
New Jersey Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2.5K per square foot on a published $12M for 4,750 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93