883-Franklin-Ave-NYC

Rosewood Realty Group Arranges $40M Sale of Nine-Building Apartment Portfolio in Brooklyn

by Amy Works

NEW YORK CITY — Rosewood Realty Group has brokered the sale of a nine-building multifamily portfolio in Brooklyn. Chestnut Holdings acquired the 203-unit portfolio from San Francisco-based Carmel Partners for $40 million. Spread across Brooklyn’s Crown Heights and East New York neighborhoods, the properties are located at 883 Franklin Ave., 1742-1746 Union St., 1746 President St. and 1402-1406 Sterling Place. All of the 203 apartments are rent stabilized. Aaron Jungreis of Rosewood Realty Group represented both the buyer and seller in the transaction.

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