Brooklyn, NY Rosewood Realty Group has arranged four sales totaling $38.575 million.
The first deal is the $13.2 million sale of three contiguous mixed-use buildings on Amsterdam Ave. in Washington Heights. The buildings at 2372, 2374 and 2376 Amsterdam Ave. total 41,353 s/f. They consist of two, five-story mixed-use walk-up buildings and one six-story mixed-use building with a total of 58 apartments and eight retail stores including a barbershop and a grocery. They were built between 1906 and 1908. Together they sold for 13.12 times the current annual rent roll and at a 4% cap rate. Rosewood’s Aaron Jungreis represented the seller, 2372-2376 Amsterdam Avenue and the buyer, 2372-2376 Amsterdam
Avenue NYC, a private investor.
Rosewood also brokered the $12.6 million sale of 144-03 Barclay Ave. in Murray Hill, Queens. The six-story elevator apartment building contains 49 apartments, an antenna and laundry room. The 45,500 s/f building was built in 1929. It sold for 14.5 times the current rent roll, at a 3.75% cap rate. Jungreis represented the seller, Barclay 7 Realty LLC and Rosewood’s Michael Guttman and Jack Zalta represented the buyer, Polo 2 LLC.
Rosewood also closed the $10.6 million sale of 606 West 137th St.in Harlem. This is a six-story elevator apartment building with 25 apartments. The 27,810 s/f building was built in 1905. It sold for 16 times the current rent roll, at a 4.25% cap rate. Jungreis represented the seller, LH 606 West 137 LLC and Rosewood’s Michael Kerwin represented the buyer, JEM Realty, Inc.
The deal was the $2.175 million sale of 865 East 181st St. in West Farms, Bronx. The four-story walk-up apartment building with 13 apartments is 8,975 s/f and was built in 1931. It sold for 11 times the current rent roll, at a 6% cap rate. Jungreis represented the buyer, a private investor, and the seller, 865 East 181 Street LLC.