Jungreis of Rosewood Realty brokers $145.5 million sale of three-building portfolio; Represented both buyer and seller; Totaled over 350,000 s/f

Rosewood Realty Group has sold a large three-building portfolio on the Upper West Side for $145.5 million. The buildings, that total over 350,000 s/f, include: 165 West 91st St. (641 Amsterdam Ave.) 393 West End Ave., and 55 West 92nd St. Aaron Jungreis, founder and president of Rosewood Realty, represented the buyer, an undisclosed fund, and the seller, a long time family owner, in the exclusive off-market deal that represents over 18 times the rent roll. "This is extremely rare for UWS buildings of these size to trade hands," said Jungreis, who said that the "arduous deal" took a lengthy time to close. "We worked with the sellers for many years, on and off," said Jungreis who also flipped one of buildings (55 West 92nd St.) to a different buyer for $20 million while the deal was "still in contract." The largest of the three buildings is 165 West 91st St. (also known as 641 Amsterdam Ave.) at over 170,000 s/f. The 15-story, elevator apartment building features 114 units and four retail stores. The other building - at 393 West End Ave. (between 78th and 79th St.) is a 134,183 s/f, 16-story elevator apartment building with 113 apartments which includes four professional offices and a laundry room. The third building, 55 West 92nd St. (between Columbus Ave. and Central Park West), at 55,535 s/f, is a six-story elevator building with 54 apartments and laundry room. The buildings represent half rent stabilized units and half free market. Rosewood Realty is a boutique commercial brokerage firm that focuses on sales in multifamily, retail and office properties largely in New York, New Jersey and Connecticut. The firm ended 2011 with over $600 million in over 50 closed deals and was recently named one of the top 10 "Power Sales Brokerage Firms" for sales completed in 2011. This year, Rosewood - which has already closed over 25 deals - is on track to beat last year with an estimated 80-90 deals worth over $1 billion.