Richelson Enterprises Purchases Multifamily Property From Cyrus Mojdehi & Danny Hirschberg For $4.375M

The property asset involved in the transaction is a multifamily building located at 926 Meadowood Drive Northeast in Lenoir, NC. The sale price was $4,375,000, comprising 50 units and encompassing a total square footage of 40,000, resulting in a price per unit of $87,500 and a price per square foot of $109.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,375,000
• Units: 50
• Square Footage: 40,000
• Price Per Unit: $87,500
• Price Per Square Foot: $109
• Buyer: Richelson Enterprises
• Seller: Cyrus Mojdehi & Danny Hirschberg - Northway Multifamily
• Broker: Gavin Conlon - Cushman & Wakefield
• Date of Transaction: 6/5/2026
• Market: Lenoir, NC

Key individuals involved in the deal include the buyer Richelson Enterprises and the sellers Cyrus Mojdehi and Danny Hirschberg, who are associated with Northway Multifamily. The transaction was facilitated by broker Gavin Conlon of Cushman & Wakefield.