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Brokerage
Posted: July 14, 2014
Jungreis and Scheer of Rosewood close portfolio sale for $12.65 million
Rosewood Realty Group arranged a seven-building portfolio sale for $12.65 million. The buildings include 442-446 Decatur St. in Bedford Stuyvesant and 255-261 and 263-265 Linden St. in Bushwick. Decatur is a four-story walk-up apartment building with 32 apartments and Linden consists of five, four-story walk-up apartment buildings and a six-family walk-up apartment building (all contiguous) with a total of 38 apartments. Together, the buildings, that were built around 1931, totaling 55,338 s/f. The portfolio sold for 11.4 times the rent roll. Aaron Jungreis of Rosewood represented both the Linden seller, Black Spruce Partners IV LLC and Decatur seller, Black Spruce Partners IX. David Scheer of Rosewood represented the buyer, a private investor.
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