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Brokerage
Posted: February 14, 2023
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 112th St., 124-126 West 112th St., 243 West 116th St., 141 West 116th St., 141 West 113th St. and 113 West 113th 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.”
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