Jungreis and Guttman of Rosewood close $22 million sale of 16-story tower; represented buyer, 163 Washington Avenue LLC, and seller

According to Aaron Jungreis, co-founder of Rosewood Realty Group, his firm brokered a $22 million off-market sale of a Karl Fischer-designed 16-story new tower in the Clinton Hill section. Jungreis and Rosewood broker Michael Guttman represented both the buyer and the seller in the off-market deal at the 49-unit former condominium at 163 Washington Ave. The 40,437 s/f, full-service, elevator building, was finished this year. It also has one commercial space and parking for 36 cars. According to Guttman, the buyer is a real estate investor group from N.Y.C., (163 Washington Ave. LLC) and the seller, GLC Group of N.Y.C. "GLC came to us with a one shot opportunity to sell the building without publicizing it was being sold," said Guttman. "The first buyer we brought them made a good offer and the deal was done." After the deal closed, it was reported that the new owner turned the former condominium into a rental building. In 2010, Rosewood Realty Group had one of its best years, facilitating $470 million in over 50 closed deals. The firm, according to Jungreis, is on pace to beat those figures in deal size and dollars - projected at $800 million with over 75 deals - so far this year. The company, founded in 2007 by Jungreis and David Berger, was recently named by CoSTAR Group as one of the top 10 commercial brokerage firms for 2010 in New York. Jungreis himself was also honored as one of the top 10 commercial sales brokers in New York City last year. He leads Rosewood Realty Group's team of eight brokers, which focuses on sales of multi-family, retail and office buildings in New York City, New Jersey, Connecticut, Long Island, Westchester and Florida.