Bronx, NY Besen & Associates completed the sale of 2507-2513 East Tremont Ave., located between Hone Ave. and Lurting Ave. in the Westchester Sq. neighborhood. This property sold for $1.034 million which translates to $275 per s/f. Ron Cohen of Besen exclusively represented the seller and procured the purchaser.
Built by current and sole owner c.1950, this two-story, 3,760 s/f mixed-use building contains three office units, a 930 s/f rented basement, one two-bedroom apartment and curb cut driveway with parking for five cars.
2507-2513 East Tremont is close to the Westchester Sq. Medical Center and the Westchester Sq./East Tremont Ave. and Zerega Ave. stops on the [6] subway train and has an MTA bus stop for the eastbound and westbound Bx4A, Bx40 and Bx42 buses in front of the building.
“This was a nice turnkey opportunity which traded at north of 6% cap,” said Cohen.
The property is also one of the largest hub sites in the borough for the T-Mobile DAS (Distributed Antenna System) telephone exchange, which has invested $350,000-$450,000 into this location. The property offers stable cash-flow with credit tenant T-Mobile. The property has been maintained by ownership, with capital improvements including roof, electrical and façade upgrades.
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