Updated Dec 4, 2024
Jing Jiang Acquires Single Family Home In Millburn, NJ For $1.625M
24 Norwood Terrace
$1,625,000
$832/SF
Building Size
1,953 SF
Asset Type
Single Family
Closing
Oct 30, 2023
About this deal
AI
Jing Jiang has purchased a Single Family property in Millburn, NJ. The property is located at 24 Norwood Terrace and has a total square footage of 1,953. The asking price for this property was $1,500,000, but it was sold for $1,625,000, achieving $125,000 over the asking price. This sale also set a record for the highest price per square foot ever sold in the Millburn neighborhood, with a price per square foot of $832.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $1,625,000
- Address: 24 Norwood Terrace, Millburn, NJ
- Market: Millburn, NJ
The seller of this property is Champion Estates, and their representative in this deal is Amanda Nadia Abdelsayed from Keller Williams Metropolitan. The buyer, Jing Jiang, successfully closed this record-breaking sale with the assistance of their real estate agent. Kathy Samaan from Samaan Design Group served as the designer for this property.
Amanda Nadia Abdelsayed, the seller's representative, specializes in working with builders and offers consulting services throughout the construction process. Her expertise in both sales and construction contributes to maximizing profitability and achieving exceptional results. To discuss your next construction project, you can contact Amanda at [email protected].
Millburn Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $832 per square foot on a published $1.6M for 1,953 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.76%
Cash-on-Cash
-2.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93