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175 Boardwalk

Updated Dec 4, 2024

Judith Schaller Of United Real Estate Associates Represents Buyer In Sale Of Point Pleasant Beach Home For $2.275M
SOLDSingle Family

Judith Schaller Of United Real Estate Associates Represents Buyer In Sale Of Point Pleasant Beach Home For $2.275M

175 Boardwalk

$2,275,000

$623/SF

Building Size

3,648 SF

Asset Type

Single Family

Closing

Jul 9, 2024

About this deal

AI

The property, located at 175 Boardwalk in Point Pleasant Beach, has sold for $2,275,000. This single-family home features a spacious 3,648 square feet and has a price per square foot of $624. Originally built for Sony Music executive Paul R. Smith, this notable Jersey Shore house has historical significance, known for playing Frank Sinatra music from its porch. The property was previously on and off the market since 2022, originally listed at $4.4 million, experiencing several price reductions before its final sale.

Summary of transaction details:

Judith Schaller represented the buyer in this transaction, while James Ward represented the seller. The closing of this property reflects a unique opportunity within the upscale market of Point Pleasant Beach, showcasing the collaboration between the respective real estate agencies involved in the sale.

Players

James Ward

Keller Williams Realty

Broker

$4.6M

vol

2 deals

Broker

Point Pleasant Beach Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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Deal FAQ

About $623 per square foot on a published $2.3M for 3,648 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.97%

Cash-on-Cash

-1.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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