Reilly and Newell of Reilly Mann Newell Rlty. broker a $2 million sale

Reilly Mann Newell Realty Group completed the $2 million sale of 201 East Mosholu Pwy. North in the Bedford Park section. The property is a six-story art deco apartment building with 20 large apartments and is situated at the southeast corner of East 206th St. The purchase price is nine times the gross rent-roll, $81.48 per s/f and represents a 6% cap rate. The seller, 201 East Mosholu LLC, was represented by David Schreiber, Esq. and the purchaser, 201 Mosholu LLC, by David Galanter, Esq. of Goldberg Weprin & Ustin. Partners Brian Reilly and Wells Newell of Reilly Mann Newell Realty were the brokers.?