Moshe Schreiber Acquires Morris Heights Multifamily Property From Apolo Hernandez For $1.2M

The asset involved in this transaction is a multifamily property located at 1644 Montgomery Avenue in the Morris Heights neighborhood of the Bronx. The sale price for this property was $1,200,000, consisting of 2 units with a total square footage of 5,039. This translates to a price per unit of $600,000 and a price per square foot of $238.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $1,200,000
• Buyer: Moshe Schreiber
• Seller: Apolo Hernandez
• Brokers: Derek Bestreich, Steve Reynolds, Brian Davila & John Loch - Investment Property Realty Group (IPRG)
• Units: 2
• Square Footage: 5,039
• Price Per Unit: $600,000
• Price Per Square Foot: $238

The deal was facilitated by a team of brokers from Investment Property Realty Group (IPRG), which included Derek Bestreich, Steve Reynolds, Brian Davila, and John Loch. Notably, the property was delivered vacant and is set to be converted into 10 apartments according to the terms of the transaction.