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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

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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 16-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 7-10 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
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