Dhiren Mheta Acquires Bronx Multifamily For $2.85M

A multifamily property located at 1130 Union Avenue in Bronx, NY has been sold for $2,850,000. The property has a total square footage of 14,118 and was purchased at a price per square foot (PPU) of $202. The transaction resulted in a capitalization rate (cap rate) of 5.2%. The seller of the property was Shamwatie Sawak, while the buyer was Dhiren Mheta. The property was listed by New York Multifamily, with brokers Mike Fusco, Adam Radi, Seth Glasser, and Peter Von Der Ahe representing the seller.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $2,850,000
• Price per Square Foot (PPU): $202
• Cap Rate: 5.2%
• Seller: Shamwatie Sawak
• Buyer: Dhiren Mheta
• Brokers: New York Multifamily - Mike Fusco, Adam Radi, Seth Glasser, Peter Von Der Ahe

The sale of this property at 1130 Union Avenue in Bronx, NY was facilitated by the team of Mike Fusco, Adam Radi, Seth Glasser, and Peter Von Der Ahe from New York Multifamily. The deal showcases their expertise in the Bronx market and their ability to successfully connect buyers and sellers in the multifamily sector.