Bronx, NY In an off-market transaction, Friedman-Roth Realty Services completed the $30 million sale of a package of three, six-story elevator apartment buildings. The seller was represented by Giuseppe Inglese and Nadeem Haque. Inglese also procured the purchaser. The purchase price equates to a cap rate trade of 5.6% and a gross rent multiplier of 10.25.
The properties are 1515 Grand Concourse, 1860 Billingsley Terrace, and 3530 Dekalb Ave., and contain a total of 185 units, which are predominately rent-stabilized.