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.

Sub Markets

Property Sectors

Topics

New York & Tri-State  + Outer  + Apartments  | 

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. 

Connect

Inside The Story

Rosewood Realty Group

About Paul Bubny

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).

  • ◦Sale/Acquisition
Chase-19-cube
TheGuarantors-01-cube