Newswire Residential

Rosewood Realty Group Reports Record $2.2 Billion in Total Sales Closed in 2022

Coming out of the pandemic, Rosewood Realty Group, one of the most active single office investment sales firms in the country, reported $2.2 billion in total multifamily deals for 2022.

While pre-pandemic Rosewood’s sales were heavily New York City centric, Rosewood’s Founder and CEO Aaron Jungreis led his company in early 2020 to pivot and create a National Investment Sales Division led by Jonathan Brody that has sourced and closed deals across the Southeast, Northeast and beyond.

Outside New York, Brody and his team have more than tripled total national sales from $400 million in 2020 to $1.45 billion in 2021. In 2022 they closed over $1.3 billion in national sales.
One of the firm’s largest deals was the $230 million multifamily acquisition in Louisville Kentucky where the buyer was Stoneweg US and seller, Lifestyles Communities. That deal is a perfect illustration of Rosewood’s ability to execute in the off-market space between two big institutionalized and well capitalized groups.

“We have successfully closed over two billion in total sales and we are poised for a strong 2023 as the sales market continues to heat up locally and nationally,” said Jungreis who employs an extensive, speedy off-market strategy, and puts the right people in place on the brokerage’s expanding sales team. “The rental market still has growth potential and identifying hidden gems is one of our strengths,” he added.

In addition to being the lead broker, Jungreis is involved in every facet of operations, including the oversight of 25 investment sales professionals. Since the company’s formation in 2007, Jungreis has sold over 2,300 properties with an aggregate value exceeding $23.4 billion. In 2022, Jungreis closed over $944.2 million in just New York City deals.

Some of Rosewood’s Largest National Deals in 2022 included:
·      Hearth Homes Portfolio, OH & KY – $150 million – Fifty-three one-story apartment building complexes, with a total of 600 apartments and 620 parking spaces.
·      Overall Creek Apartments, Murfreesboro, TN – $109.75 million – Sixteen Class A three-story apartment buildings consisting of 384 apartments.
·      *The Royce At Trumbull,  Trumbull, CT – $101 million – A garden-style apartment complex consisting of eleven three-story walk-up apartment buildings that contain a total of 340 apartments and 988 parking spaces.
·      Bridle Creek, Lexington, KY – $75 million – A garden style apartment complex consisting of 12 three-story buildings and 384 apartments.
Some Largest New York City Deals in 2022 included: 
*1 & 2 River Park, Brooklyn – $145 million  – Consists of a non-adjacent assemblage of two parcels, one at 350 Hicks Street (1 River Park) at 24,666 sq. ft., which is presently land with partial site improvements, the second at 91-95 Pacific Street (2 River Park) at 28,388 sq. ft., which is presently land with partial site improvements set to feature 150 residential condos, above a parking area containing 288 spaces, and a community facility space.
49-55 Dupont Street, Brooklyn – $82 million – 10 contiguous tax lots which can be developed up to an FAR of 3.40 and total Zoning Floor Area (“ZFA”) of 333,200 sq. ft.
*Upper West Side, New York – $66.25 million – A 32-story mixed-use elevator building consisting of a total of 247 apartments (of which 179 are rent stabilized), 97 parking spaces and four current retail spaces.
*1580 Nostrand Avenue, Brooklyn – $58 million – 212,583 sq. ft. mixed-use and mid-construction development when completed, will consist of 204 residential units.
 * 320 & 350 Manhattan Ave, 312 West 114th Street, New York – $45.75 million – One six-story walk-up and two six-story elevator apartment buildings consisting of a total of 130 apartments and one antenna.