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Posted: September 4, 2018
Jungreis of Rosewood Realty closes two sales totaling $26.05 million; Tolmasov of Rosewood acts for Hullofa, LLC in $5.45 million deal
Rosewood Realty Group
Brooklyn, NY Rosewood Realty Group has closed two sales totaling $26.05 million:
A $20.6 million sale of 8-10 Grand Ave. in Clinton Hill. This is two contiguous mixed-use buildings (73,685 s/f combined) with a total of 43 apartments and nine commercial spaces. 8 Grand Ave. is a two-story walk-up building that was built in 1984 and 10 Grand Ave. is a seven-story elevator building that was built in 1935. It sold for 14.13 times the rent roll and for a 4.92 cap rate. Rosewood’s Aaron Jungreis represented the seller, Grand 1031 11 LLC. The buyer was Workable Grand LLC.
A $5.45 million sale of 3063 Hull Ave. in the Norwood neighborhood of the Bronx. This is a 22,160 s/f, five-story walk-up apartment building with 27 apartments, that was built in 1925. The building sold for 12 times the rent roll, at a 5.4% cap rate. Jungreis represented the seller, 3063 Estates LLC and Rosewood’s Ilya Tolmasov represented the buyer, Hullofa, LLC.
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