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Manhattan, Bronx apartment portfolio trades for $24M

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 s/d at a price-per-unit of $211,000. The properties include: 45 East Mosholu Parkway Northa 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 (pictured top) is 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 are three contiguous four-story walk-up apartment buildingswith 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. 

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