A&E Real Estate Holdings Acquires Multifamily Portfolio in Queens for $127.5M

NEW YORK CITY — A&E Real Estate Holdings has acquired a six-building, 428-unit multifamily portfolio in Flushing, Queens for $127.5 million. The 388,768-square-foot portfolio sold for 15.3 times the current annual rent roll at a 3.85 percent capitalization rate. Rosewood Realty Group’s Aaron Jungreis represented both the seller, Treetop Development and the buyer, A&E, in the transaction. The properties are located at 132-57 and 132-61 Sanford Ave.; 132-25 and 132-45 Maple Ave.; 132-48 41st Road; and 41-40 Denman St. Each property also includes an indoor parking garage.