June 3rd, 2022, by Paul Bubny

Rosewood Realty Group’s Aaron Jungreis, Greg Corbin and Chaya Milworn brokered the $19.6-million auction sale of a 13-building portfolio in Brooklyn. 

The 13 properties were part of Chaskiel Strulovitch’s 31-building real estate portfolio. The bankruptcy sale included; 1125-1133 Greene Ave., 1213 Jefferson Ave., 568 Willoughby Ave., 618 Lafayette Ave., 834 Metropolitan Ave., 92 S. 4th St., 325 Franklin Ave., 53 Stanhope St. and 263 18th St. 

“This was a complex rollercoaster of a deal from start to finish,” said Corbin, Rosewood’s president of bankruptcy and restructuring. “I’ve never seen a more competitive auction which stretched over two days and consisted of 142 rounds of bidding.”  

FREO Group opened the auction with a stalking-horse bid of $17.4 million for the entire portfolio. Ten others joined the bidding, but on individual properties, not the portfolio. In the end, Marvin Azrak, Joel Wertzberger and Josef Mikkelson were the winners of the auction.