Treetop Development has sold its Elmhurst apartment complex to Zara Realty for $56.5 million, according to property records. The property at 94-26 56th Avenue is a 164-unit rental complex with three commercial units. Treetop purchased it in 2016 for $40.7 million from Mydac Realty Corp, which had owned the building since 1986. Most of the apartments are rent-stabilized. Rosewood Realty Group president Aaron Jungreis brokered the deal for both sides but declined to comment on [...]
