Updated Oct 26, 2026
Dr Martin Luther King Jr Way
Dr Martin Luther King Jr Way
$6,250,000
Building Size
—
Asset Type
Land
Closing
Oct 21, 2026
About this deal
AI
The asset involved in the transaction is land located at 228 A&B Bulb Ave in Gastonia, NC. The transaction involves a bridge loan with a principal amount of $6,250,000.
Summary of transation details:
- Property Type: Land
- Transaction Amount: $6,250,000
- Lender: Cyrus Mojdehi & Daniel Hirschberg - Wickenden Partners
- Borrower: Chad Abernethy - Abernethy Contracting
- Loan Type: Bridge
- Loan Date: 10/21/2026
The deal involves Cyrus Mojdehi and Daniel Hirschberg acting as the lenders, representing Wickenden Partners, while Chad Abernethy represents Abernethy Contracting as the borrower. This relationship highlights the collaboration between the entities involved in securing the financing for the land acquisition.
On the Map
$6,250,000
Land
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Players
Gastonia Land Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93