Sioni of Sioni & Partners brokers $3.75 million sale of 58-unit apartment property

May 25, 2010 - Front Section

Moses Sioni, Sioni & Partners

1860 Billingsley Terrace - Bronx, NY

Sioni & Partners has completed the $3.75 million sale of 1860 Billingsley Terr. The six-story elevatored apartment building measures 64,614 s/f. The property contains 58 units of which 27 are one-bedroom, 24 two-bedroom and 7 three-bedrooms.
"This property, which sold for the first time in over 25 years, commanded an 8% capitalization rate and a 6.4 Gross Rent Multiplier," said managing director Moses Sioni who handled the sale for the seller, Terrace Arms Corp. The building was purchased by the Morgan Group.
Tags:

Comments

Add Comment


More from the New York Real Estate Journal