News: Brokerage
Posted: November 20, 2015

Bussu of GFI sells 6831 Ridge Boulevard for $5 million

6831 Ridge Boulevard - Brooklyn, NY 6831 Ridge Boulevard - Brooklyn, NY
Brooklyn, NY GFI Realty Services, LLC arranged the sale  of 6831 Ridge Boulevard, a four-story walk-up apartment building located in the Bay Ridge section of the borough, totaling nineteen apartments and a ground floor commercial unit.  The property traded for $5 million translating to sixteen times the rent roll. Nissim Bussu, an associate of GFI Realty Services, represented both the seller and the buyer in this transaction. “Properties of this caliber rarely come to market in Bay Ridge.  This property had been under the same ownership for 40 years,” said Bussu. “The buyers, a local family, immediately recognized the value of this investment allowing for a quick and smooth trade.” The property is located  just two blocks from the R train and in close proximity to the Belt Parkway.
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