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1919-1921 Pine Bough Lane

Daniel Hirschberg & Cyrus Mojdehi Acquire Multifamily In Concord For $4.625M
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

John Phoenix

CBRE

Broker

$155.2M

vol

5 deals

Broker

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