News:
Brokerage
Posted: September 8, 2014
Guttman and Jungreis of Rosewood close $17 million sale of 346 East 29th Street
Rosewood Realty Group arranged the sale of a fully gut-renovated 65-unit apartment building in Ditmas Park for $17 million dollars.
The seven-story building, at 346 East 29th St. between Clarendon Rd. and Ave. D, sold for 13.4 times the rent roll. The 66,932 s/f building was built in 1966.
"The existing owner invested significantly in capital improvements to the building," said Michael Guttman, who represented the seller, 346 East 29th Street Holdings LLC. "All of the apartments were newly renovated and there is inherent rental upside potential."
Aaron Jungreis represented the buyer, a private investor.
Tags:
Brokerage
MORE FROM Brokerage
Simi Capital enters Texas with acquisition of 359,000 s/f small-bay industrial portfolio in Northwest Houston
Houston, TX Simi Capital acquired a three-property, 359,000 s/f small-bay industrial portfolio. The transaction, completed in a joint venture with Decker Capital, marks Simi
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt
First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
.gif)