Bronx, NY Rosewood Realty Group has brokered the sale of three buildings totaling $39.601 million.
• The $14.225 million sale of 3971 Gouverneur Ave.: This six-story elevator apartment building with 67 units contains 65,394 s/f and sold for 12.58x the current rent roll, at a 5.23% cap rate. At the time of the sale, 36 of the 67 apartments were delivered vacant. Rosewood’s Mike Kerwin, Ben Khakshoor and Aaron Jungreis represented the seller, Hds Funding Co. Kerwin and Khakshoor represented the buyer, a private investor.
• The $12.688 million sale of 3804 Bailey Ave.: This six-story walk-up apartment building with 64 apartments contains 61,000 s/f and sold for 11.83x the current rent roll, at a cap rate of 5.7%. Jungreis represented the seller, Nysandy9 Kingsbridge 2 LLC and Rosewood’s Billy Billitzer represented the buyer, a private investor.
• The $12.688 million sale of 213-217 West 238th St.: This five-story walk-up apartment building with 58 apartments contains 45,000 s/f sold for 14x the current rent roll, at a 4.4% cap rate. Jungreis represented the seller, Nysandy9 Kingsbridge 2 LLC and Billitzer represented the buyer.
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