Jeffrey Goldberg Of Fairstead Acquires Landmark Apartments In Chesapeake For $34.8 Million

The property asset involved in this transaction is a multi-family affordable housing community located at 2900 Fireside Road, Chesapeake, VA. The sale price for this asset was $34,800,000, and it comprises a total of 120 units, with a price per unit of $290,000. Plans for extensive renovations include an investment of $100,000 per unit, leveraging funding from various partnerships and programs.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $34,800,000
• Units: 120
• Price Per Unit: $290,000
• Buyer: Jeffrey Goldberg
• Agency: Fairstead

The deal supports significant renovation efforts aimed at enhancing the living conditions for residents. The project will be funded through Low-Income Housing Tax Credits (LIHTC), Project-Based Vouchers (PBV), and public-private partnerships, with support from notable financial institutions such as U.S. Bank, Berkadia, Freddie Mac, and Virginia Housing.