New York & Tri-State + Outer + Apartments | December 19, 2022

Rosewood Realty Group closed the sale of a five-unit residential building in Brooklyn’s East Williamsburg neighborhood at $440,000 per unit

Rosewood Realty Finalizes East Williamsburg Multifamily Sale

Rosewood Realty Group closed the sale of a five-unit residential building in Brooklyn’s East Williamsburg neighborhood for $2.2 million.

The 4,125-square-foot building, at 985 Metropolitan Ave., sold for a cap rate of 5%, at 16.46 times the monthly rent roll or $440,000 per unit. The rental building was built in 1920.

Rosewood Realty Group brokers Chaya Milworn and Mike Kerwin represented the buyer, Mark Guindi of GD Capital Group. Sarah Sawyer of Compass represented the seller, identified as G & G Ventures LLC.

“The buyer plans to start a full renovation as soon as possible to take advantage of the building’s burgeoning location next to parks and nightlife,” said Kerwin.

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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).