Rosewood Realty Group Brokers $110M Sale of 14 Multifamily Buildings in Manhattan
NEW YORK CITY — Rosewood Realty Group has brokered the sale of 14 multifamily buildings located at 308-310 and 318-340 W. 49th St. in the Hell’s Kitchen neighborhood of Manhattan. Black Spruce Management has acquired the portfolio from The Orbach Group for $110 million. Totaling 136,000 square feet, the portfolio features 273 apartment units. Additionally, the portfolio has approximately 75,000 square feet of air rights, but only 10,000 square feet are usable due to the Special Clinton Zoning District. Aaron Jungreis of Rosewood Realty Group represented the buyer and seller in the deal.