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Rosewood Closes Harlem Apartment Sale for MRC

Rosewood Realty Group delivered the sale of a four-story, 18-unit walk-up apartment building with three commercial spaces in Harlem for $6 million. The 17,968-square-foot. building at 61-63 E. 125th St. between Park and Madison avenues was built in 1930 and features 12,108 additional square feet of air rights. 

Rosewood’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented the buyer, Sapphire Investments and the seller, Madison Realty Capital. The mix of free market and rent-stabilized apartments sold for a 5.5 % cap rate and 11.7 GRM, at $330 per square foot. 

“The buyer plans to renovate and increase the rents on the fair market apartments and to occupy the retail with his own business once the leases roll,” said Khakshoor. 


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 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