Tony Shaban Purchases Bronx Multifamily Asset From Manuel Scharf For $12.5M
2914 Jerome Avenue
$12,500,000
$100/SF
Building Size
124,492 SF
Asset Type
MultiFamily
Closing
Apr 22, 2025
AI
The property asset involved in the transaction is a multifamily building located at 2914 Jerome Avenue in the Bronx. This asset has a sale price of $12,500,000 and encompasses 124,492 square feet with a total of 123 units. The price per unit amounts to $101,626, and the price per square foot is $100.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,500,000
- Address: 2914 Jerome Avenue
- Market: Bronx
- Total Units: 123
- Square Footage: 124,492
- Price per Unit: $101,626
- Price per Square Foot: $100
- Buyer: Tony Shaban
- Seller: Manuel Scharf
- Brokers: Aaron Jungreis, Ben Khakshoor, Alex Fuchs & Reouven Elharar - Rosewood Realty Group
Key individuals involved in the deal include Tony Shaban, the buyer, and Manuel Scharf, the seller. The transaction was facilitated by a team from Rosewood Realty Group, comprising brokers Aaron Jungreis, Ben Khakshoor, Alex Fuchs, and Reouven Elharar, who represented the interests of the parties during the transaction.
Players
Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93