Union County-based Rose Real Estate LLC said Jan. 25 it marked the close of the fourth quarter of 2020 with three multifamily sales that included two apartment assets previously sold by the boutique investment brokerage firm. Located in Plainfield and Belleville, the low-rise buildings’ per-unit sale price averaged just under $145,000.
The recently traded properties are located at 256-64 Belleville Ave., Belleville (18 units/$2.80M), 701-11 Kensington Ave., Plainfield (18 units/$2.65M) and 238-40 E. 9th St., Plainfield (12 units/$1.5M). These transactions bring Rose Real Estate’s total sales in Plainfield alone to 10 deals in five years.
“Rose Real Estate was founded on the premise that private individuals and families, as well as those whose portfolio holdings include or focus on properties of less than 75 units, should have access to the same professional, institutional-caliber multifamily advisory and investment brokerage services contracted by larger entities,” said Lauren Rose Federgreen, founder and president. “For this reason, we have emerged as the go-to broker of choice in this space.”
Federgreen, a graduate of Lafayette College with a bachelor’s degree in economics, has more than 12 years’ experience as a commercial real estate investment broker. During the course of her career thus far, she has closed more than $200M in multifamily and mixed-use transactions encompassing over 2,700 units. Prior to forming Rose Real Estate as a niche-focused woman-owned firm, she was a broker with Marcus & Millichap and Colliers International.
“Early in my career, a common theme emerged that shaped Rose Real Estate’s business model: small-to-midsized multifamily properties are the dominant housing type in New Jersey and, as such, are an extremely important investment vehicle that requires highly specialized market knowledge and expertise,” said Federgreen.
