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3039 Avenue J

Alejandro Gershanik Buys Multifamily Asset In Riviera Beach From Gabriel Garcia For $2.52M
SOLDMultiFamily

Alejandro Gershanik Buys Multifamily Asset In Riviera Beach From Gabriel Garcia For $2.52M

3039 Avenue J

$2,520,000

$262/SF

Building Size

9,584 SF

Asset Type

MultiFamily

Closing

Apr 9, 2025

AI

The multifamily asset located at 3039 Avenue J in the Riviera Beach market features 14 units with a total square footage of 9,584. The property was sold for a transaction amount of $2,520,000, resulting in a price per unit of $180,000 and a price per square foot of $262.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,520,000
  • Address: 3039 Avenue J
  • Market: Riviera Beach
  • Units: 14
  • Square Footage: 9,584
  • Price Per Unit: $180,000
  • Price Per Square Foot: $262
  • Buyer: Alejandro Gershanik & Maximiliano Pavlovsky
  • Seller: Gabriel Garcia
  • Brokers: Ethan Krauss, Dan Dratch, Ryan Wold, Alejandro Gershanik

The transaction involved notable individuals including buyers Alejandro Gershanik and Maximiliano Pavlovsky, who acquired the property from seller Gabriel Garcia. The deal was brokered by Ethan Krauss, Dan Dratch, Ryan Wold, and Alejandro Gershanik, emphasizing the collaborative effort in facilitating the sale.

Players

Dan Dratch

Franklin Street

Broker

$267.8M

vol

48 deals

Broker
Alejandro Gershanik

Alejandro Gershanik

Buyer

$94.9M

vol

34 deals

Buyer
Gabriel Garcia

Gabriel Garcia

Seller

$5.5M

vol

3 deals

Seller

Riviera Beach MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.29%

Cash-on-Cash

-1.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93