Moonlight Properties Acquires Bronx Multifamily From Frank Abramopolous For $2.1M

Moonlight Properties, represented by Ryan Zar and Bradley Zar, has acquired a multifamily property located at 2348 University Avenue in the Bronx, New York. The transaction, facilitated by Daniel Hakimian from @Highcap_Group, was completed on June 15, 2018. The property spans 14,900 square feet and consists of 9 projected units. The purchase price for this asset was $2,085,000, resulting in a price per square foot of $139. The property was sold at a capitalization rate of 9.6%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,085,000
• Price Per Square Foot: $139
• Square Footage: 14,900
• Units: 9 Projected
• Capitalization Rate: 9.6%

Moonlight Properties, led by Ryan Zar and Bradley Zar, has acquired the multifamily property at 2348 University Avenue in the Bronx. The deal was brokered by Daniel Hakimian from @Highcap_Group. This transaction marks an important milestone for Moonlight Properties as it expands its portfolio in the New York market.