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Rosewood Closes Deal for Crown Heights Mixed-Use

Rosewood Realty Group closed the sale of a Crown Heights, Brooklyn mixed-use building for $4 million. Located at 236 Montgomery St., the 20,880-square-foot building is a four-story walk-up with 25 apartments and three commercial spaces. It sold at a cap rate of 5.5% at 9.2 times the monthly rent roll, or $143,000 per unit. 

Rosewood’s Aaron Jungreis, Alex Fuchs and Ben Khakshoor represented the seller, Montgomery Realty LLC. Rosewood’s Josh Shmuel and Ben Khakshoor represented the buyer, a private investor. 

“The building had a number of vacant apartments that the buyer is planning on renovating,” said Khakshoor. “The retail component also allows for future upside and has strong long-term tenancy.” 

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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).

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