Rosewood Realty Group and GFI broker $5.25 million multifamily building

Bronx, NY Rosewood Realty Group and GFI have brokered the $5.25 million sale of a six-story elevator multifamily building with 53 apartments. The building, 4030 Bronx Blvd. (between East 226^th and East 228^th St.) totals 50,338 s/f. The multifamily was built in 1929. It sold for a cap rate of 8.1% and has a GRM of 6.6 and price of $99,000 per unit.

Rosewood Realty Group’s Ben Khakshoor, Alex Fuchs and Aaron Jungreis and GFI’s Zach Fuchs represented both the buyer, Ben Novic, and the seller, Joey Yasgur.

“The buyer purchased the property at a great basis to add it to their portfolio of similar buildings in the area,” said Khakshoor.

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