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Brokerage
Posted: November 7, 2011
ERG chosen to sell six-building Bronx apartment portfolio
ERG Property Advisors has been selected to sell the Tremont Portfolio, a six-building collective sale in the East Tremont section. The portfolio consists of: 1991 Bathgate Ave., 442 and 446 East 176th St., 4196 Park Ave., 1824 Washington Ave. and 2028 Washington Ave.
The sale is comprised of five walk-up buildings and one elevator building, totaling 115 apartments and one 2500 s/f retail unit. All of the buildings were gut renovated 15 years ago and are in great condition.
Rent levels were capped for 15 years by a now-expired regulatory agreement, providing the new owner with substantial rental upside over time.
For more information about this property, please contact ERG's Matt Sparks at (646) 253-0904 [email protected] or Richard Guarino at (646) 253-0909 [email protected].
ERG Property Advisors is a full-service commercial brokerage company based in New York City. Its core activities are investment sales, retail leasing, and strategic consulting. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG has access to a vast network of NNN properties throughout the United States. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Visit www.ergpa.com for recent deals and press coverage.
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