Rosewood Realty announced the $24.5 million sale of a seven building, mixed-use portfolio in the Bronx and Manhattan. The portfolio totals 115,940 square feet at a price-per-unit of $211,000.
The properties include: 45 East Mosholu Parkway North, a seven-story, 71-unit, elevator building in the Norwood section of the Bronx which sold for $12 million at a $169,000 per unit, 10.2 times the current rent roll and a 5.1% cap rate. The building was built in 1926.
The second property at 501 West 147 Street in the Hamilton Heights neighborhood of Manhattan, consists of three contiguous five-story walk-ups with 33 apartments and four commercial spaces that sold for $8.5 million at $169,000 per unit, 11.3 times the current rent roll and a 5.7% cap rate. The building was built in 1930.
The third property at 741-745 East 217th St in the Olinville section of the Bronx comprises three contiguous four-story, walk-up apartment buildings with 21 units that sold for $4 million at $190,000 per unit, 9.8 times the current rent roll and a 6.8% cap rate. The building was built in 2005.
Rosewood’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the buyer, a private family and the seller, Ron Rettner.
