Kestenbaum and Rosen of Rosen Associates broker $30 million sale of 38-unit apartment building

Rosen Associates Management Corp. has facilitated a $30 million sale of 30 West 70th St., a high-rise apartment building, on behalf of an estate. The sales price represents a 4% capitalization rate on the in-place income. Seth Kestenbaum and David Rosen of Rosen Associates were the exclusive and sole brokers. The purchaser was selected after a comprehensive marketing process yielded 80 qualified offers. The buyer is a wholly-owned subsidiary of an international investment holding company and has an extensive global real estate portfolio. Rosen Associates is a full-service national real estate company involved in commercial property ownership, management and advisory services.