Rosewood Realty Group closes two sales totaling $9.4 million

May 27, 2014 - Front Section

David Scheer, Rosewood Realty Group

Rosewood Realty Group arranged the following sales totaling $9.4 million:
* The $7 million sale of 59 East 7th Street in the East Village. The six-story walk-up apartment building consists of 24 apartments and two commercial units. The 11,058 s/f building was built in 1910. It sold for 16.77 times the rent roll. Aaron Jungreis represented the seller and David Scheer represented the buyer, both private investors.
* The $2.4 million sale of 1818 Clay Avenue in the Mount Hope section of the Bronx. The six-story elevator apartment building consists of 26 apartments. The 19,158 s/f building was built in 1937.
It sold for 7.2 times the rent roll. Mike Kerwin represented the seller and Jungreis represented the buyer, both private investors.
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