Rosewood Realty Group’s Post

JUST SOLD | $15,050,000 | 109 Gold Street, Brooklyn, NY | Rosewood Realty Group just sold a 6-story building constructed in 2008 featuring 33 residential units. For more information on the transaction or to work with us, email Aaron Jungreis at aaron@rosewoodrg.com, Ben Khakshoor at ben@rosewoodrg.com, or Alex Fuchs at afuchs@rosewoodrg.com. #rosewoodrealtygroup #rosewoodrealty #newyork #commercialrealestate #NYCRE #acquisitions #realestate #NYC #NYRealEstate #multifamily #mixeduse #industrial #office #retail #Rosewood #theazure #brooklynsales #luxuryresidential #soldproperties #brooklyncre

Mark Wigler, MAI

Senior Appraiser ╿ MAI Designated ╿ Certified General Licensed Real Estate Appraiser ╿ Market Value ╿ Market / Feasibility Studies ╿ Single Asset / Portfolio Valuations ╿ Estate Planning ╿ Minority Interest Discounting

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Building was initially developed as a condominium in 2009-2011 during the nadir of the market. Prices initially ranged from $325k to $1.08mm before going rental. Perhaps there could be a value-add strategy to eventually reposition this one back to condominium? Buyer got this at a discount from its 2015 sale ($20mm) and only slightly more than the prior 2012 sale ($14.458mm).

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