Updated Dec 4, 2023
Yitz Klein & Rabbi Harry Rozenberg Acquire Hudson Valley Farm For $2.5M
$2,500,000
$1/SF
Building Size
2,400,000 SF
Asset Type
Development Site
Closing
Sep 14, 2023
About this deal
AI
A farm and development property located in Hudson Valley/Jeffersonville has been sold for $2,500,000. The property spans an impressive 2,400,000 square feet, equating to a price per square foot of $1. The buyers, Yitz Klein and Rabbi Harry Rozenberg, have expressed their intentions to transform the property into a tiny home affordable rental community, with a focus on co-living. The active farm will serve as a centerpiece for the community.
Summary of transaction details
- Property Type: Farm/Development/Co-Living
- Transaction Amount: $2,500,000
- Square Footage: 2,400,000
- Price per Square Foot: $1
- Market: Hudson Valley/Jeffersonville
The buyers, Yitz Klein and Rabbi Harry Rozenberg, are associated with KeefX.co and Trippy.vc. KeefX.co specializes in empowering the plant medicine market through alternative investment opportunities. Together, they plan to create a community that offers affordable rentals in tiny homes, with a special emphasis on co-living. The active farm on the property will play a crucial role in fostering community engagement and providing additional amenities for the residents.
Players
Market Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93