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Rosewood Closes $13M Sale of Inwood Multifamily Duo
Rosewood Realty Group announced the sale of two contiguous five-story, rent stabilized walk-up apartment buildings consisting of a total of 98 apartments in the Inwood section of Northern Manhattan for $13 million. The firm’s Aaron Jungreis and Ben Khakshoor represented both the seller, Morris Lieberman and the buyer, Prana Investments.
Totaling 87,000 square feet, the buildings are located at 192-198 and 200-208 Nagle Ave. They sold for $132,000 per unit, or $150,000 per square foot, with a gross rent multiplier of 9.8 times the current roll and a 5.3% cap rate. Both properties were built in 1920.
The units include two studio apartments, 32 one-bedrooms, 44 two-bedrooms and 20 three- bedrooms.
- ◦Sale/Acquisition

