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ERG Property Advisors Announces Sale of Triple Net Lease Property in Bronx, New York

New York, NY – August 7, 2014 – ERG Property Advisors is proud to announce the recent sale of 1855 East Tremont Avenue in the Bronx, New York. The property was sold in a bankruptcy auction for $1,600,000.

The 14,924 square foot lot includes plans for 14,000 square feet of retail space and an additional 13,300 square feet of above-ground and below-ground parking space. The property is located steps away from the Cross Bronx Expressway and Bronx River Parkway. Public transportation is also easily accessible via the 2, 5, and 6 subway lines or the BxM10, 22, 29, 40, 42, and Q44 bus lines.
 
“We were appointed by the federal bankruptcy court to dispose of the asset that was in bankruptcy. The price that was achieved was substantially higher than the upset price, allowing the deed holder to walk away with a profit from the sale,” said Andrew Walsh, Senior Director of Investment Sales at ERG Property Advisors, who exclusively represented the seller of this property. 
 
For more information about this property, please contact Andrew Walsh at 646.253.0967/ awalsh@ergpa.com or Matthew Murphy at 646.253.0962/ mmurphy@ergpa.com.
 
About ERG Property Advisors
 
ERG Property Advisors is a full-service commercial real estate firm that offers focused brokerage and financial services to property owners and investors. Seasoned in all facets of the real estate industry, ERG Property Advisors handles all types of properties, including commercial and retail buildings and condos, residential buildings, townhouses, office buildings, mixed-use properties, and development/conversion sites in markets across the country. With comprehensive and competitive solutions, ERG Property Advisors has represented a vast portfolio of properties, ranging from $300,000 to over $100 million. 



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