A NYC-based investment and development firm focused on multi-family real estate has sold off its eight-building Harlem portfolio for $17.65 million to an undisclosed private investor.
Rosewood Realty Group’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the undisclosed seller and buyer.
The 84 unit, 92,627 sq. ft. portfolio also has four commercial spaces. It sold for a 6.5% percent 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.”
