David Pezzola Acquires 204-Unit Multifamily Portfolio In Kenwood, Chicago For $27M

4500 S. Drexel, 4727 S Ingleside, 4746 S. Ingleside, 811 E 46th, 4001 S. Ellis, 4433 S. Greenwood, Chicago, Il 60653

$27,000,000

Building Size

—

Asset Type

MultiFamily

Closing

Dec 16, 2022

AI

An undisclosed buyer has acquired a multifamily property portfolio in Kenwood, Chicago. The portfolio consists of six properties located at 4500 S. Drexel, 4737 S Ingleside, 4746 S. Ingleside, 811 E 46th, 4001 S. Ellis, and 4433 S. Greenwood. The transaction was closed on December 16, 2022.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $27,000,000
Units: 204
Price Per Unit (PPU): $132,353
Market: Kenwood, Chicago

The buyer, David Pezzola, acquired the portfolio from Mendy Raskin and Jonathan Kranzler. The deal was facilitated by brokers Lucas Fryman, Ted Stratman, and Samuel (Sam) Gutierrez from Interra Realty.

Kenwood 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

0.59%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93