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$11M Contemporary Mansion In Cedar Grove Generating Speculation Of Potential Celebrity Buyer

Property Image
SOLD
$11,000,000

New Jersey

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Single Family10,000 SF
Sold 06/21/2023
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Property Image
SOLD

$11M Contemporary Mansion In Cedar Grove Generating Speculation Of Potential Celebrity Buyer

349 Crestmont Rd Montclair, NJ 07043, USA

See Similar Deals
Single Family10,000 SF
Sold 06/21/2023
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Single Family
Price Per Square Foot:$1,100
Total Square Footage:10,000 SF
Transaction Type:Sale

A contemporary mansion located at 349 Crestmont Road in Cedar Grove, New Jersey, is currently under contract. The property, situated on 2.39 acres, offers breathtaking views of New York City. Marketed by Richard Stanton of Stanton Company, this single-family home is generating speculation about a potential celebrity buyer, like Aaron Rodgers. The modern glass house features an open floor plan, gourmet kitchen, and seamless indoor-outdoor living spaces.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $11,000,000
  • Square Footage: 10,000
  • Price Per Square Foot: $1,100
  • Address: 349 Crestmont Road, Cedar Grove, New Jersey
  • Market: Cedar Grove, Montclair
  • Image: Richard Stanton
  • Date: 06/21/2023

Richard Stanton of Stanton Company represents the seller in this transaction, further fueling speculation about a potential celebrity buyer.

Players

Richard Stanton
Stanton Company
Richard Stanton
2 deals$20.5M volume(917) 536-8257
BROKER

Details

SOLD
IMAGE: CONTRACT IMAGE: Richard Stanton DATE: 06/21/2023 ADDRESS: 349 Crestmont Road MARKET: Cedar Grove, Montclair ASSET TYPE: Single Family ~ ACRES: 2.39 BROKER: Richard Stanton - Stanton Company PRICE: $11,000,000 SF: 10,000 ~ PPSF: $1,100 NOTE: A contemporary mansion in Cedar Grove, New Jersey, priced at $11 million, is generating speculation about a potential celebrity buyer such as Aaron Rodgers. The modern glass house offers breathtaking views of New York City and features an open floor plan, gourmet kitchen, and seamless indoor-outdoor living spaces.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$586,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
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