Rosewood Realty Group sells three multifamily buildings for $8.95 million

Brooklyn, NY Rosewood Realty Group brokered the sale of a Williamsburg Brooklyn portfolio consisting of three multifamily buildings for $8.95 million.

The buildings, that include 313 South 4^th St. between Rodney and Keap Sts., and 431 and 433 Wythe Ave. between 8^th and 9^th Sts., sold for a combined cap rate of 5.7% and 16.4 times the current monthly rent roll.

Rosewood’s Ben Khakshoor, Reoven Elharar and Alex Fuchs represented the seller, Gil Boosidan and the buyer, Dana Lowery of Edifice Management.

313 South 4^th St. is a 6,000 s/f four-story walk-up with 12 mixed-rate apartments that was built in 1915.

431 and 433 Wythe Ave. is a two building, contiguous four-story building with 16 mixed-rate apartments. The 8,800 s/f building was built in 1920.

“The buildings were 80% free market, and was delivered with the majority of the units vacant,” said Khakshoor.

“This allowed the buyer to quickly execute their value add business plan and increase the rents. The two buildings on Wythe are also 2B tax class protected properties.”

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