Ronald Kandov Purchases 18-Unit Multifamily Property From Mario Jacovino For $2,326,000

The property asset involved in the transaction is a MultiFamily building located at 1684 Banyer Place in the Soundview neighborhood of Bronx. The sale price was $2,326,000, featuring 18 units, which translates to a price per unit of $129,222. The total square footage of the property is 11,475, resulting in a price per square foot of $202.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $2,326,000
• Units: 18
• Price Per Unit: $129,222
• Square Footage: 11,475
• Price Per Square Foot: $202
• Buyer: Ronald Kandov
• Seller: Mario Jacovino
• Brokers: Steve Reynolds, Brian Davila, John Loch & Carson Brantley - Investment Property Realty Group

All apartments in the building are rent stabilized and were delivered fully occupied, with a recently expired tax abatement. The brokers involved in the transaction represent the investment side of this deal, facilitating the process between the buyer and the seller.