Rosewood Realty Group's Aaron Jungreis closed the $16.412 million sale of a seven-story, 103-unit elevator multifamily building at One Bogardus Place in the residential enclave of Fort George. The sale represents the 20th building sale for Jungreis in Washington Heights in the last five months.
The 111,055 s/f building with 26 parking spaces, within the building and on an adjacent lot, was built in 1961 and renovated in 1987. It sold for 11 times the rent roll. Jungreis represented the buyer, a local investor.
Jungreis said, "All the offers on the building, which had been on the market for months, were in the high $15 million range." Before Jungreis with his off-market connections, made one phone call that clinched the deal. Tags: