Jungreis of Rosewood Realty brokers $36.5 million sale for Fairfield Properties

365 Stewart Avenue - Garden City, NY

Aaron Jungreis, Rosewood Realty Group

Garden City, NY Fairfield Properties, a full-service family-owned real estate firm in Melville has purchased 365 Stewart Ave. for $36.5 million. The 80-unit, four-story, elevator apartment building, is 76,354 s/f and was built in 1938.

Aaron Jungreis, the co-founder and president of Rosewood Realty Group, represented the seller, Va Garden City LLC National Registered Agents Inc., and the buyer, Fairfield Properties.

It sold for 12.5 times the current rent roll and has a 4% cap rate.        

Founded in 2007 by Jungreis and David Berger, Rosewood Realty Group is one of the most active commercial brokerage firms in New York City. Rosewood’s areas of expertise are multifamily, office and retail buildings with activity focused in New York, New Jersey, Connecticut and Florida. Since their inception, Rosewood has catapulted to the top of CoStar Group's annual rankings of top ten investment sales firms in the New York City Metro Markets. They are their own biggest competitor and continually seek to outperform our production.

Fairfield Properties enjoys a 40-year reputation in offering the standard of excellence in apartment living and building management. Their professionally maintained communities provide luxurious living to our residents.