Rick Herman Acquires Multifamily Property On Gerard Avenue In Concourse, Bronx For $5.15M

The multifamily property located at 1166 Gerard Avenue in the Concourse area of Bronx, New York has been sold for a total price of $5,150,000. The property spans an area of 35,070 square feet, resulting in a price per square foot of $147. It comprises 41 units, with an average price per unit of $125,609.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $5,150,000
• Address: 1166 Gerard Avenue, Concourse, Bronx
• Market: Concourse, Bronx
• Square Footage: 35,070
• Price per Square Foot: $147
• Units: 41
• Price per Unit: $125,609

The seller of the property was Martin Kirzner, while the buyer was Rick Herman. The deal was facilitated by New York Multifamily, represented by Peter Von Der Ahe, Seth Glasser, Michael Fusco, and Isaac Lipton.