Stephan Frame Acquires Land In Stone Harbor For $4.3M
112th St Stone Harbor, NJ 08247, USA
$4,295,000
Building Size
—
Asset Type
Land
Closing
Jun 12, 2023
About this deal
AI
A rare vacant land opportunity has recently been sold in Stone Harbor's southend beachblock. The property, located at 145 112th Street, offers a generous lot for the construction of a spacious single-family home. With beach access and beautiful views, this private location is part of an exciting new development in the area.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $4,295,000
- Market: Stone Harbor
- Broker: Stephan Frame - Diller Fisher Realtors
This transaction was facilitated by Stephan Frame from Diller Fisher Realtors. Through his representation, the buyer successfully acquired the vacant land and can now proceed with their plans for constructing a single-family home.
On the Map
$4,295,000
Land
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New York Land Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.69%
Cash-on-Cash
-1.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93