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Rosewood Closes Deal for Borough Park Mixed-Use
Rosewood Realty Group closed the sale of a five-story, mixed use-apartment building in Brooklyn’s Borough Park neighborhood with four apartments and one retail space for $6.8 million. The apartments at 4921 12th Ave. sold at a cap rate of 4.85%.
The 14,000-square-foot building was built in 1930 and features 40 feet. of retail frontage along 12th Avenue with 6,611 square feet. of prime retail on the ground level and basement. There are four large floor-through residential rental apartments on the second, third, fourth and fifth floors, each with four bedrooms.
Rosewood’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the buyer, Yisroel Black, and the seller, Mark Frankel. “The buyer plans to occupy the vacant retail space with his own business,” said Khakshoor.
The building is located in a prime area of Borough Park near shopping and transportation.
- ◦Sale/Acquisition

