Jungreis of Rosewood completes $30.2 million Queens Portfolio sale; 14 multifamily buildings in Jackson Heights owned by Area Properties

Rosewood Realty Group closed a $30.2 million deal on 14 multi-family buildings, owned by Area Properties, all located in Jackson Heights. Aaron Jungreis of Rosewood represented both the buyer, Benedict Realty Group and the seller. "It wasn't easy getting a single buyer to bite off the whole package because there were so many different locations," said Jungreis. "It needed a buyer who was creative and entrepreneurial like Daniel Benedict." The 14 buildings together feature 248-units, total 192,354 s/f and sold for 9.5 times the rent roll. One building is three stories and five are four stories and eight are five story walk-up apartment buildings with two commercial units. The buildings include: 35-20 97th St., 35-12 99th St., 35-06 97th St., 35-18 95th St., 35-44 95th St., 35-41 94th St., 35-38 95th St., 35-38 94th St., 35-31 94th St., 35-24 95th St., 35-34 95th St. 37-29 104th St., 35-41 97th St. and 35-20 108th St.