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.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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