Alejandro Gershanik Acquires MultiFamily Property In Riviera Beach For $3.4M
3375 Avenue J
$3,400,000
$185/SF
Building Size
18,320 SF
Asset Type
MultiFamily
Closing
Sep 22, 2023
AI
A multi-family property located at 3375 Avenue J in Riviera Beach has been sold for $3,400,000. Spanning across 18,320 square feet, this property consists of 20 units, resulting in a price per unit of $170,000. The sale price per square foot stands at $186.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $3,400,000
- Address: 3375 Avenue J, Riviera Beach
- Units: 20
- Price per Unit: $170,000
- Square Footage: 18,320
- Price per Square Foot: $186
The buyer of this property is Alejandro Gershanik, represented by BM2 Realty. The seller, Menachem Tiefenbrun, relied on Travis Jones and Alec Bashein from Horvath & Tremblay as their representatives in the transaction.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93