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Rosewood’s Jungreis Closes Sale of Pelham Bay Walk-Up
Rosewood Realty Group arranged the $5.35-million sale of a four-story walk-up building in the Pelham Bay section of the Bronx.
Located between Wilkinson and Saint Theresa avenues, 1921 Hobart Ave. features 33 rent-stabilized apartments. It was built in 1929. The 27,000-square-foot building sold for 10.34 times the current roll, at a cap rate of 5.85%. The building has 29 one-bedroom apartments and four two-bedroom units.
Rosewood Realty’s Aaron Jungreis represented the seller, Greenwich, CT-based multifamily owners the Morgan Group. Jungreis and Rosewood’s Alex Fuchs represented the buyer, Arber Realty LLC, a local Bronx investor.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

