Rosewood Realty Group sells two multifamily buildings for $13m

Manhattan, NY Rosewood Realty Group completed the sale of two contiguous five-story (rent stabilized) walk-up apartment buildings consisting of a total of 98 apartments in the Inwood neighborhood for $13 million.

The buildings that total 87,000 s/f are located at 192-198 and 200-208 Nagle Ave. They sold for $132,000 price per unit or $150,000 per s/f with a GRM of 9.8 times the current roll and a 5.3% cap rate. The buildings were built in 1920.

Rosewood’s Aaron Jungreis and Ben Khakshoor represented both the seller, Morris Lieberman and the buyer, Prana Investments.

The unit mix is two studios, 32 one-bedroom units, 44 two-bedroom units and 20 three-bedroom units.

Tags: Brokerage

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