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Posted: April 11, 2011
Sioni of Sioni & Partners completes $6 million sale: A total of 82 units at 1135 Boynton Avenue; Contains 86,190 s/f
According to Sioni & Partners, the company's Bronx Multi-Housing Group has completed the $6 million sale of 1135 Boynton Ave. The six-story elevatored apartment building measures 86,190 s/f. The property contains 82 units of which 11 are studios, 58 are one-bedroom, 7 two-bedroom and 6 three-bedrooms.
"This property commanded an 8.9% capitalization rate and a 6.7 gross rent multiplier based on actual data and vacancy projections," said managing director Moses Sioni who exclusively represented the seller in this transaction.
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