ERG Commercial completes $2.04m sale of 12,260 s/f mixed-use property

Bronx, NY ERG Commercial Real Estate has completed the sale of a three building mixed-use parcel in the Wakefield section for $2.04 million. ERG was approved and appointed by the court to manage the property at  4639-4643 White Plains Rd. during the foreclosure process and represent the undisclosed lender in the marketing and sale of the property. 

The 12,260 s/f mixed-use, three story property was built in 1910 and renovated in 2000. It consists of 16 residential units, five  ground-floor retail spaces, and on-site parking accessible via East 241^st St.

"Our hybrid approach, combining property management and brokerage expertise, provided the lender with an efficient and cost-effective solution for the distressed asset. The lender was extremely pleased with the outcome and the execution of the process from start to finish," said ERG's Mary Guarino.

"The highlight of this transaction that underscores the firm’s trusted reputation and experience handling complex foreclosure and REO dispositions," said Guarino.