Trio of Queens MF Properties Trades for $8M

NEW YORK CITY-A trio of multifamily buildings totaling 72 residential units in the Glendale section of Queens has changed hands in an all-cash deal worth $7.7 million. The three buildings–combined–traded for 10 times the current rent roll, according to a release.

Aaron Jungreis and Joseph Smith of Rosewood Realty Group brokered the sale of 71-15, 71-21 and 71-27 65th St., which total approximately 63,000 square feet. They represented both the seller–Glendale Apartments, 65 LLC–and the buyer, 71-15 65th Street Associates, LLC. Jungreis procured the buyer and arranged the deal in three weeks’ time.