Jungreis and Guttman of Rosewood close sale of 62,548 s/f Bronx property; The Morgan Group sells 60 East. 196th St. for $8.15 million

September 17, 2019 - Front Section
Aaron Jungreis,
Rosewood Realty Group

 

Michael Guttman,
Rosewood Realty Group

 

Bronx, NY Rosewood Realty Group has closed the $8.15 million sale of a five-story walk-up apartment building in the Fordham neighborhood.

The 62,548 s/f building at 60 East 196th St.features 46 apartments and a superintendent’s unit in the basement.  It also offers 5,779 s/f of air rights.The building was built in 1924 and sold for 10.5 times the annual rent roll, at a 6% cap rate.

Rosewood’s Michael Guttman represented the buyer, a private investor and Aaron Jungreis represented the seller, The Morgan Group.