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280 East Main Street

280 East Main Street, Rockaway, NJ 07866
Property in Morris
Sold Mar 01, 2021
$9,750,000
$7,312,500 by Connectone Bank
Mortgage Due Mar 01, 2051
280 East Main Street has been categorized by the local assessors in Rockaway, NJ as a residential type of property. The building has a total of 2 stories. The linear feet between the front and back of the lot is 2,860 ft and across the front of the lot is 2,740 ft. The area measurement of the land has been determined as 56,628 square feet.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with brick control joints. The exterior walls of the building are made of brick. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 280 East Main Street sold most recently in Jan 6, 2021 for a total of $9,750,000. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $49,072 in taxes each year. 280 East Main Street was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $1,509,900. If we break it down further, the land itself was valued at $480,000. Improvements to the property, however, were assessed at a total of $1,029,900. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry!Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Bedroom Count: 0
  • Construction Type: Brick
  • Exterior Walls Type: Brick
  • Floor Count: 2
  • Living Units: 24
  • Basement Area: 0
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 56,628
  • Lot Size Depth Feet: 2,860
  • Lot Size Frontage Feet: 2,740
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: unknown
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Land Acres: 1.3
  • Standard Land Use Code: Apartments (generic)

Ownership

  • Current Owner : ROCKWAY PROPERTY MANAGEMENT LLC
  • Previous Owner : KORN HERBERT
  • Previous Owner 2: ESTATE OF JACOB KORN
  • Ownership Rights Codes: unknown
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Rockaway Borough School District
  • Census Tract: 044300

Zoning

  • Zoning: O-B

Geography

  • Assessors Map Reference: TAX MAP 4
  • District: 34
  • Parcel: 34 00022-0000-00014
  • Block: 22
  • Lot: 14
  • Municipality: ROCKAWAY BORO
  • Latitude: 40.8976
  • Longitude: -74.5011

    Address

  • Full Address: 280 E Main St
  • Address - House Number: 280
  • Street Direction: E
  • Address - Street Name: Main
  • Address - Suffix Type: St
  • State: NJ
  • City Name: Rockaway
  • Carrier Code: C002
  • 4-Digit Zip Code: 3625
  • Zip Code: 07866

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $49,072

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $7,312,500
  • First Open Lien Mortgage Lender: CONNECTONE BANK
  • First Open Lien Mortgage Recording Date: Mar 01, 2021
  • First Open Lien Mortgage Loan Amount: $7,312,500
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: Commercial
  • First Open Lien Mortgage Loan Due Date: Mar 01, 2051

    Market Valuation

  • Market Total Value: $1,735,717
  • Market Land Value: $551,788
  • Market Improvement Value: $1,183,929

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,509,900
  • Assessed Land Value: $480,000
  • Assessed Improvements Value: $1,029,900

    Sales

  • Current Sale Contract Date: Jan 06, 2021
  • Current Sale Recording Date: Mar 01, 2021
  • Current Sale Transaction ID: 11827340236
  • Current Sale Price: $9,750,000
  • Current Sale Document Type: Deed
  • Current Sale Input Document Number: 2021018929

    Last Sale Mortgage

  • First Mortgage Lender: CONNECTONE BANK
  • First Mortgage Transaction Date: Mar 01, 2021
  • First Mortgage Loan Amount: $7,312,500
  • First Mortgage Loan Type: Commercial

About Rockaway



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Frequently Asked Questions

What neighborhood is 280 East Main Street located in?
The 280 East Main Street is a located in the neighborhood of Morris in Rockaway, Rockaway.
What is the average sales price for listings in 280 East Main Street?
The average sales price for units in 280 East Main Street is $0 currently.

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