News:
Brokerage
Posted: November 11, 2025
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 241st 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.
Tags:
Brokerage
New York City
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Quick Hits
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,