SIERRA BUYS THREE BRONX PROPERTIES FOR $15.5M

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BRONX, N.Y. — Sierra Realty Corp. has acquired a three-building portfolio of multifamily properties in the Bronx for $15.5 million through affiliate entities Miles Sherman, LLC, Coltrane Hoe, LLC and Thelonius GC, LLC. The buildings include the 76-unit 1515 Grand Concourse, the 46-unit 1136 Sherman Ave. and the 53-unit 1052 Hoe Ave. Mortgage financing of $11.62 million was obtained through Bridgehampton National Bank. Stuart Stein of SBS Associates represented the seller.

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