Cohen, Guttman and Jungreis of Rosewood Realty close $10 million sale

Rosewood Realty Group has closed the sale of a six-story, 41-unit elevator rental building at 311 East 54th St. to Sloan-Kettering Hospital which is going to use the building for staff housing. The Rosewood Realty Group brokers who marketed and closed the $10 million all cash deal include: Devin Cohen, Michael Guttman and Aaron Jungreis. They represented both the buyer and the seller, an estate, which owned the East Side building for decades. Michael Gutnick, a hospital executive, said that Sloan-Kettering plans to install new kitchens and rent the apartments in the 24,192 s/f building to graduate, post-doctoral students and younger members of the staff. The building, which was delivered mostly vacant, was a good fit for the hospital because of its proximity to facilities and services located in the immediate area. Memorial Sloan-Kettering provides a free round-trip jitney service to and from the main campus on York Ave. every 20 minutes. "The building was on and off the market for a few years and there was intense competition to sell it this time around," said Cohen. "All of us here at Rosewood played an important role and worked very hard to see the deal through to closing," said Jungreis, president and co-founder of Rosewood Realty. "There were numerous complex hurdles leading up to the simultaneous contract closing. I'm extremely proud of the creativity and effort set forth by our brokers." Rosewood Realty Group was founded in 2007 by Jungreis and his partner David Berger. The firm specializes in the sale of multifamily, retail and office investment property in the New York, New Jersey, Connecticut and Florida.