Updated Sep 17, 2025
Don Wright Acquires Multifamily Assets In Petersburg Virginia For $9.3 Million From Jay Grossman
30 Park Avenue, 2732 Park Avenue & 2701 Park Avenue
$9,300,000
$109/SF
Building Size
12,586 SF
Asset Type
MultiFamily
Closing
Sep 4, 2025
About this deal
AI
The multifamily property, comprising 95 units, is located at 30 Park Avenue, 2732 Park Avenue, and 2701 Park Avenue in Petersburg, VA. The asset has a total square footage of 12,586 and was sold for a transaction amount of $9,300,000, equating to a price per unit of $97,895 and a price per square foot of $738.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,300,000
- Units: 95
- Square Feet: 12,586
- Price Per Unit: $97,895
- Price Per Square Foot: $738
- Buyer: Don Wright
- Seller: Jay Grossman
- Brokers: David Wildes & Steve David - Rosewood Realty Group
- Date of Sale: 9/5/2025
David Wildes and Steve David, representing the seller, facilitated the transaction with their agency, Rosewood Realty Group, underscoring their involvement in the successful deal.
On the Map
$9,300,000
$109/SF
MultiFamily
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Players
Petersburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93