Redwood Realty Advisors Brokers $7.5M Sale of Two Apartment Buildings in New York

MOUNT VERNON, N.Y. — Redwood Realty Advisors has brokered the sale of two apartment buildings located on South Second Avenue in Mount Vernon. An undisclosed buyer acquired the properties for $7.5 million, with a 6.9 percent cap rate. The assets are a 34-unit apartment building and a mixed-use building with 35 apartment units and seven commercial spaces. Michael Scrima and Thomas Gorman of Redwood Realty Advisors brokered the transaction. The name of the seller was not released.