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Rent Stabilized Bronx Apartments Fetch $15M
Rosewood Realty Group arranged the sale of an 83-unit Bronx apartment building for $14.8 million. The firm’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the long-term seller, Ron Rettner, and the undisclosed buyer, identified as 4755WP LLC.
The 87,900-square-foot building at 4755 White Plains Rd. features five retail spaces, 11 parking spaces, a laundry room and one antenna. It was built in 1939.
The rent stabilized property sold for $168 price per unit, with a cap rate of 5.9% at 9.7 times the current rent roll.
- ◦Sale/Acquisition