Rosewood Realty sells eight-building Harlem portfolio for $17.65 million

 

 

Manhattan, NY Rosewood Realty Group has sold off its eight-building Harlem portfolio for $17.65 million to an undisclosed private investor.

Rosewood’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the undisclosed seller and buyer.

The 84 unit, 92,627 s/f portfolio also has four commercial spaces. It sold for a 6.5% cap rate, at 8.65 GRM.

The buildings include: 138-140 West 112^th St., 124-126 West 112^th St., 243 West 116^th St., 141 West 116^th St., 141 West 113^th St. and 113 West 113^th St.

 

 

 

“These buildings represented an opportunity to purchase a portfolio in a concentrated area with an attractive basis and great in-place cash flow,” said Fuchs. “These buildings benefited from a 2B tax classification as well.”