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New York & Tri-State  + Uptown/Bronx  + Apartments  |  September 20, 2023
Emily Fu
By: Emily Fu

Washington Heights MF Building Sold for $7M 

Barberry Rose Management, a property management firm based on Long Island, has sold a 32-unit multifamily building in Washington Heights, New York, for $7.05 million.  

The building, located at 720 West 172nd Street, was built in 1918 and offers 36,125 square feet of space, along with 8,273 square feet of air rights. The sale resulted in a cap rate of seven percent and a GRM (Gross Rent Multiplier) of 8.5%.  

The transaction was facilitated by Rosewood Realty Group, with Aaron Jungreis, Ben Khakshoor, and Alex Fuchs representing both Barberry Rose Management and the buyer, Two80 Real Estate Ventures, a private investor. 

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Inside The Story

Aaron Jungreis

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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