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2622 Davidson Avenue

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

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

2622 Davidson Avenue

$2,100,000

$294/SF

Building Size

7,125 SF

Asset Type

Development Site

Closing

Mar 18, 2025

AI

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)

Broker

$283.4M

vol

108 deals

Broker

Shimon Greenfeld

Buyer

$10.6M

vol

3 deals

Buyer

Bronx Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93