Jungreis of Rosewood Realty brokers $51 million three-building portfolio sale; Sellers: Monticello, Harvard Leasing and Yaille Leasing

Rosewood Realty Group has sold a multifamily three-building portfolio for $51 million. The three buildings, that totaled 400,000 s/f, included: 4190 Bedford Ave., 288 Bay 38th St. and 2440 East 29th St. located in the Gravesend, Bensonhurst and Sheepshead Bay sections. All three are seven-story elevator apartment buildings consisting of a total of 352 apartments and parking garages with spaces for over 91 cars. "This was a very unique deal," said Aaron Jungreis, president of Rosewood Realty Group. "It's a rare opportunity that buildings of this size trade." According to Jungreis, who was the sole broker, the portfolio sold for 11 times the rent roll. The deal took 45 days to close and ten days to get the contract signed. The sellers included: Monticello Leasing Delaware LLC of 288 Bay 38th St.; Harvard Leasing LLC of 4190 Bedford Ave. and Yaille Leasing LLC of 2440 E 29 St. The buyer is a local family. In 2010, Rosewood had one of its best years, facilitating approximately $470 million in over 50 closed deals. The firm, according to Jungreis, is on pace to beat those figures in deal size and dollars, projected at $800 million with over 75 deals, so far this year. The company, founded in 2007 by Jungreis and David Berger, was recently named by CoSTAR Group as one of the top ten commercial brokerage firms for 2010 in New York. Jungreis himself was also honored as one of the top ten commercial sales brokers in New York City for 2010. He leads Rosewood Realty Group's team of seven brokers who focus on sales of multi-family, retail and office buildings in New York City, New Jersey, Connecticut, Long Island, Westchester and Florida. The firm specializes in putting together buyers and sellers, often in un-advertised, off-market deals.