Rosewood Realty Group Brokers Sell Mixed-Use Package Deal In Manhattan & Bronx For $24.5M

The package deal for the properties located at 45 East Mosholu Parkway North, 741-745 East 217th St., and 1760-1766 Amsterdam Ave. in Manhattan and Bronx has been sold for a total price of $24,500,000. The total square footage of the mixed-use assets is 115,940.

Summary of transaction details

• Property Type: Package Deal - Mixed-use
• Transaction Amount: $24,500,000
• Market: Manhattan & Bronx

The seller of the properties is Ron Rettner. The transaction was facilitated by Aaron Jungreis, Ben Khakshoor, and Alex Fuchs from Rosewood Realty Group, who represented the seller.

The breakdown of the sale includes the following:

• 45 East Mosholu Parkway North:
  • Price: $12,000,000
  • Price Per Unit (PPU): $169,000
  • Gross Rent Multiplier (GRM): 10.2x
  • Capitalization Rate (CAP): 5.1%
  • Price Per Square Foot (PPSF): $170
• 1760-1766 Amsterdam Ave.:
  • Price: $8,500,000
  • Price Per Unit (PPU): $169,000
  • Gross Rent Multiplier (GRM): 11.3x
  • Capitalization Rate (CAP): 5.7%
  • Price Per Square Foot (PPSF): $315
• 741-745 East 217th:
  • Price: $4,000,000
  • Price Per Unit (PPU): $190,000
  • Gross Rent Multiplier (GRM): 9.8x
  • Capitalization Rate (CAP): 6.8%
  • Price Per Square Foot (PPSF): $217