Rosewood Realty Group has closed the sale of four contiguous apartment buildings on the same block front in the Ditmas Park section for $8.5 million. The four-story walk-up buildings at 1702-1722 Caton Ave. were purchased by Prospect Park Apt. LLC, an investment group. The seller is Trans Montane. LLC.
Aaron Jungreis, the founder of Rosewood Realty Group, represented both the buyer and seller in the deal that took 90 days to close.
The buildings, built in 1913, feature 76 apartments, and the complex sold for nine times the current rent roll.
Rosewood Realty Group has sold over 16 Brooklyn buildings, so far in the first three months of 2011.
The company, founded in 2007 by Jungreis and David Berger, specializes in multi-family and office buildings with activity focused in New York, New Jersey, Connecticut and Florida. Tags: