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Shimon Greenfeld Acquires Development Site In Fordham Bronx From Sumintra Achaibar For $2.1M

Property Image
SOLD
$2,100,000
Steve Reynolds
Brian Davila
Derek Bestreich
+ 2

New York

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Development Site7,125 SF
Sold 03/18/2025
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Property Image
SOLD

Shimon Greenfeld Acquires Development Site In Fordham Bronx From Sumintra Achaibar For $2.1M

2622 Davidson Avenue

See Similar Deals
Development Site7,125 SF
Sold 03/18/2025
Steve Reynolds
Brian Davila
Derek Bestreich
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$294
Total Square Footage:7,125 SF
Transaction Type:Sale

The property asset involved in this transaction is a development site located at 2622 Davidson Avenue in the Fordham market of Bronx. The sale closed on March 18, 2025, with a transaction amount of $2,100,000.00 for a site that has a total square footage of 7,125.0. The purpose of the acquisition is to convert the property into 10 apartments.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $2,100,000.00
  • Address: 2622 Davidson Avenue
  • Market: Fordham, Bronx
  • Square Footage: 7,125.0
  • Buyer: Shimon Greenfeld
  • Seller: Sumintra Achaibar
  • Number of Apartments to be Developed: 10

Shimon Greenfeld is the buyer in this transaction, while Sumintra Achaibar represents the seller. This transaction involves key individuals who facilitate the development process and execution of the project outlined for the site.

Players

Brian Davila
Investment Property Realty Group (IPRG)
Brian Davila
108 deals$283.4M volume(718) 360-8849
BROKER
Derek Bestreich
Investment Property Realty Group (IPRG)
Derek Bestreich
312 deals$1.1B volume(718) 360-8802
BROKER
Steve Reynolds
Investment Property Realty Group (IPRG)
Steve Reynolds
133 deals$364.4M volume(718) 360-8807
BROKER
John Loch
Investment Property Realty Group (IPRG)
John Loch
28 deals$56.3M volume(718) 360-4910
BROKER
SG
Shimon Greenfeld
3 deals$10.6M volume
BUYER

Details

SOLD
IMAGE: Brian Davila & John Loch DATE: 03/18/2025 ADDRESS: 2618-2622 Davidson Avenue MARKET: Fordham, Bronx ASSET TYPE: Development Site BUYER: Shimon Greenfeld SELLER: Sumintra Achaibar BROKERS: Derek Bestreich, Steve Reynolds (@SteveReynoldsNYC), Brian Davila (@Vills25) & John Loch (@JohnLoch15) - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $2,100,000 BSF: 15,674 ~ PPBSF: $133 LOT SF: 7,125 NOTE FROM BROKER: Each property will be converted into 10 apartments.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$112,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
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