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8808 1st Ave, Stone Harbor,...

Stone Harbor Single Family Sells For Record-Breaking $12M
SOLDSingle Family Residence

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

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

Nicholas Giuffre

Compass

Broker

$26.2M

vol

3 deals

Broker

New Jersey Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

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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