Brooklyn, NY Rosewood Realty Group has brokered the sale of a mixed-use building consisting of 123 apartments and five commercial spaces. The seven-story elevator building at 275 Park Ave. was built in 1920 and renovated in 2024. The 184,411 s/f building sold at a $325 price per s/f. Rosewood’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the seller, Fairstead and the buyer Thor Equities.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,