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Brokerage
Posted: October 27, 2014
Jungreis of Rosewood closes $18.35 million sale of 183-187 Avenue C; Reps seller, Darwin Management and procures buyer
Rosewood Realty Group sold a six-story mixed-use building at 183-187 Ave. C in Alphabet City for $18.35 million.
The 24,534 s/f building was built in 1910 and includes 43 apartments and three commercial units. Neighborhood Cuban café Cafecito is a tenant, as well as a dry cleaner and a bodega. The building also features 1,090 s/f of air rights.
Rosewood's Aaron Jungreis represented both the seller, Darwin Management LLC and the buyer, private investor, Nader Shalom in the deal.
"The new owner will realize a lot of long term upside because of the great potential on the residential and commercial rents," said Jungreis. "It was a relatively quick deal and the buyer facilitated a 1031 exchange for this deal."
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