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Rosewood Closes Deal for Crown Heights Mixed-Use
Rosewood Realty Group closed the sale of a Crown Heights, Brooklyn mixed-use building for $4 million. Located at 236 Montgomery St., the 20,880-square-foot building is a four-story walk-up with 25 apartments and three commercial spaces. It sold at a cap rate of 5.5% at 9.2 times the monthly rent roll, or $143,000 per unit.
Rosewood’s Aaron Jungreis, Alex Fuchs and Ben Khakshoor represented the seller, Montgomery Realty LLC. Rosewood’s Josh Shmuel and Ben Khakshoor represented the buyer, a private investor.
“The building had a number of vacant apartments that the buyer is planning on renovating,” said Khakshoor. “The retail component also allows for future upside and has strong long-term tenancy.”
- ◦Sale/Acquisition

