Jonathan F.P. Rose Of Jonathan Rose Companies Acquires 126-Unit Caroline Apartments From Jeff T. Blau For $53M

The multifamily asset involved in this transaction is located at 210 Sherman Avenue in Manhattan. The property consists of 126 residential units and was sold for $53,000,000, which translates to a per-unit price of $420,635.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $53,000,000
• Units: 126
• Price Per Unit: $420,635
• Buyer: Jonathan F.P. Rose - Jonathan Rose Companies
• Seller: Jeff T. Blau - Related Companies
• Date of Transaction: 03/20/2026
• Market: Manhattan

Jonathan Rose Companies acquired the Caroline Apartments as part of its eighth transaction under the Rose Affordable Housing Preservation Fund VI. The buyer plans to ensure affordability through a 20-year Section 8 HAP renewal and a 60-year tax abatement.