SOLDMultiFamily
Daniel Hirschberg & Cyrus Mojdehi Acquire Multifamily In Concord For $4.625M
$4,625,000
$115/SF
Building Size
40,000 SF
Asset Type
MultiFamily
Closing
May 24, 2024
AI
The multifamily property located at 1919-1921 Pine Bough Lane in Concord, NC, was sold for $4,625,000. The property consists of 44 units spanning 40,000 square feet, with a price per unit of $105,114 and a price per square foot of $116. The transaction took place between buyers Daniel Hirschberg & Cyrus Mojdehi of Wickenden Partners and the seller, GVA Real Estate Group. Brokers John Phoenix & Gavin Conlon of Cushman & Wakefield facilitated the sale.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,625,000
- Units: 44
- Price per Unit: $105,114
- Square Footage: 40,000
- Price per Square Foot: $116
- Address: 1919-1921 Pine Bough Lane, Concord, NC
- Buyer: Daniel Hirschberg & Cyrus Mojdehi - Wickenden Partners
- Seller: GVA Real Estate Group
- Broker: John Phoenix & Gavin Conlon - Cushman & Wakefield
The deal involved key individuals in the real estate transaction, including Daniel Hirschberg and Cyrus Mojdehi as the buyers representing Wickenden Partners. On the selling side was GVA Real Estate Group. The intermediaries, John Phoenix and Gavin Conlon from Cushman & Wakefield, played crucial roles in facilitating the successful sale of the multifamily property in Concord, NC.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.43%
Cash-on-Cash
-0.98%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93