Rosewood Realty Brokers $44.4 Million Sale Of An Entire Bronx Block

2115-2121 Honeywell Ave

Rosewood Realty Group has brokered the $44.4 million sale of a two adjacent five-story elevator apartment Bronx buildings that take up the entire block of Honeywell Avenue in the West Farms neighborhood, just south of the Bronx Zoo.

The Fruchthandler real estate family’s FBE Limited bought the two buildings at 2103-2117 Honeywell Avenue between East 180th and East 181 St. that consist of 197 apartments and 46 indoor parking spots. Together, the buildings, which were built in 1979, comprise 181,093 square feet. The package sold for 11.17 times the current rent roll and 5.78 percent cap rate.

Rosewood Realty Group’s Aaron Jungreis represented both FBE Limited and the seller, Rajmattie Persuad, who bought the buildings just three years ago for $23.5 million.  Earlier this year, Persuad, with partners Karan and Rajmattie Singh, bought Kushner Companies’ Astoria portfolio for $76 million.

FBE has also been active this year prior to the Honeywell Avenue acquisition, joining with former Extell executive Dov Hertz to buy a $141.5 million multifamily portfolio that included the buildings both in Manhattan and Brooklyn.  FBE also bought a four-building portfolio in Manhattan Valley for $50 million.

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