New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
East Village Mixed-Use Trades to Private Investor
Rosewood Realty Group arranged the sale of a mixed-use building in the East Village for $4.4 million. The 7,560-square-foot building at 337 E. 9th St. sold at a 5.6% cap rate or $582 per square foot, at a GRM of 12.94%.
Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood represented both the buyer, a private investor and the seller, 337 Group LLC. The five-story building with nine residential units and two commercial stores was built in 1900.
“The buyer plans to combine the vacant units to raise the in-place rents,” said Khakshoor. “The building is a tax class 2B building that was purchased at a great basis.”
- ◦Sale/Acquisition

