According to the Rosewood Realty Group, it has sold two multi-family buildings in the Washington Heights section of the city for $11.5 million to a family-owned investment group.
The two buildings, 30 and 133 Seaman Ave., located a block apart, were bought by Bronstein Properties, a family-owned investment group. The seller was 133 & 30 Seaman Realty LLC. Aaron Jungreis, president and co-founder of Rosewood Realty Group, represented both the buyer and the seller in the deal.
The larger building, 30 Seaman Ave., is a 58,585 s/f, five-story walk-up with 75 units.
The other building, 133 Seaman Ave., is a 42,108 s/f six-story elevator building with 48 units.
The sale price represents about 7.6 times the rent roll.
"The building is a fantastic investment for the buyer," said Jungreis, who said the deal closed in just 45 days, despite the current market climate. "All parties worked together in a cohesive fashion to ensure a smooth closing."
Both properties are located in a superior location in Washington Heights near local shops, transportation and scenic Fort Tryon Park and the Cloisters.
Rosewood Realty Group, a commercial brokerage firm founded in 2007 by Aaron Jungreis and David Berger, specializes in multi-family and office buildings, with activity focused in New York, New Jersey, Connecticut and Florida. Tags: