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Brokerage
Posted: October 28, 2013
Jungreis of Rosewood Realty arranges $246 million sale to the Orbach Group
Rosewood Realty Group arranged a $246 million sale of a 33-building residential apartment package on the Upper West Side. The New Jersey-based real estate investment company, the Orbach Group is the buyer and the seller is a joint venture of Heritage Real Estate Partners and Dune Real Estate Partners.
The portfolio includes 1,031 apartments and one store in properties such as the 20-unit 65 West 107th St., the 10-unit, 125 West 106th St, 894 Riverside Dr., 635 Riverside Dr., and 203 205 W 108 St.
Rosewood president and founder Aaron Jungreis represented the Orbach Group in the off-market transaction. This is the largest deal Jungreis has ever closed.
"The areas have changed tremendously and have been gentrified," said Jungreis. "In addition, the sellers put a lot of money into the properties and that explains the increase in the value over the past two years in the portfolio."
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