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
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