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ERG Property Advisors Closes on a Three Building Portfolio in the Bronx

New York – February 2, 2015 – ERG Property Advisors is pleased announce the sale of three residential buildings located at 450, 454, and 458 East 144th  Street in Bronx, New York.

The subject properties encompass a total of approximately 40,262 square feet. The buildings consist of 37 apartment units combined along with a combined total of three commercial units. One of the buildings is newly constructed and two come equipped with their own parking. The properties are conveniently located right by the 2, 4, 5, and 6 subway lines.

The portfolio sold for $5,800,000 at a cap rate of 8.4%.
 
For more information about this property, please contact Matthew Murphy at (646) 253.0962 or mmurphy@ergpa.com.


About ERG Property Advisors

ERG Property Advisors is a full-service commercial brokerage company based in New York City. Our core activities are investment sales, mortgage brokerage and direct capital services. 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’s Retail Division specialize in the disposition of commercial investment real estate property nationally with a focus on freestanding Net-Lease properties. 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. Through strategic alliances with select companies we are able to offer our clients access to mortgage brokerage, direct capital services and investment sales brokerage. Visit www.ergpa.com for recent deals and press coverage.
 



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