Brooklyn, NY Rosewood Realty Group has completed the following transactions:
• The $3.7 million sale of a four-story, walk-up apartment building containing 16 residential apartments in the Flatbush-Ditmas Park neighborhood. The 15,800 s/f building at 2522 Newkirk Ave. (aka 436-446 East 26th St.) was built in 1915. It sold for 11.7 times the annual rent roll, for a 5% cap rate. Rosewood’s Michael Guttman and Aaron Jungreis represented the seller, Aulder Capital. Jungreis and Brendan Cohen represented the buyer, Sutton Equity Capital.
• The $3.2 million sale of a three-story, mixed-use multifamily building in Cedarhurst on Central Ave. Guttman represented the buyer, PD Central, LLC and the seller, 488 Central Avenue, LLC. The 12,000 s/f building at 488 Central Ave., contains eight apartments and two retail spaces. The building sold for 13 times the annual rent roll, for a 5.7% cap rate.