Updated Mar 26, 2025
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
About this deal
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.
On the Map
$2,100,000
$294/SF
Development Site
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Players
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