Rosewood Realty Group
70 Dahill Road - Brooklyn, NY
Brooklyn, NY Rosewood Realty Group has completed the following transactions:
• The $33 million sale of a six- story, 100-unit elevator apartment building at 70 Dahill Rd. in the Kensington neighborhood: Aaron Jungreis, president of Rosewood represented the buyer, Lourdes Realty Group LLC and the seller, Sentinel Real Estate Corp. Built in 1934, the building measures 102,000 s/f and sold for 18.5 times the rent roll. The cap rate for the sale is 3.7%.
• The sale of a three building Bronx portfolio in University Heights for $17.5 million: The five-story walk-up apartment buildings contain 64 apartments and 12 retail stores. The properties are: 2376 Ryer Ave., 2463 Valentine Ave. and 2265 Grand Ave. The portfolio totals 67,770 s/f and sold for 11.7 times the current rent roll, and at a cap rate of 5%. Jungreis represented the buyer, Chestnut Holdings, and the seller, Prana Investments.
• The sale of two contiguous five story walk-up apartment buildings in Washington Heights for $12.35 million: The buildings at 558 and 560 West 184th St. feature 109 single-room units and one apartment. The buildings, built in 1905, total 19,510 s/f combined. Rosewood’s Jonathan Brody represented the buyer, 25 Ridge LLC and 560 West 184th St. Owners LLC while Jungreis represented the seller, 25 Ridge LLC and 558 West 184th St. Owners LLC and 560 West 184th St. Owners LLC. The buildings sold for 12.68 times the current annual rent roll and at a 6.95% cap rate.
• The $1.1 million sale of 1876A Fulton St.: This is a two-story mixed-use walk-up building consisting of one ground floor retail space and two apartments. The property includes a small garage. It sold for 13.3 times the current annual rent roll and at a cap rate of 6.9%. Rosewoods Michael Guttman represented the seller, Elisheva Fulton 26 LLC and Ben Khakshoor represented the buyer, a private investor.
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