PRZOOM - /newswire/ -
New York, NY, United States, 2012/04/03 - ERG Property Advisors is pleased to announce the sale of 1302 Rev James Polite Avenue, located n the Claremontsection of the Bronx, NY. This retail property is located between Freeman and Chisholm Streets - ERGPA.com.
The four-story walk-up apartment building sold for $550,000. It consists of eight 2-bedroom units averaging approximately 818 square feet each. The building is 7,700 square feet and is situated on a 2,500-square-foot lot. The cap rate is 12.65%.
The building has recently undergone renovations, including a new boiler and electric upgrades. The property is located within a three minute walk of the 5 train at the Freeman Street stop.
For more information about this property, please contact Richard Guarino at (646) 253-0909 or rguarino[.]ergpa.com or Michael Guarino Jr. at (646) 253-0908 or mguarino[.]ergpa.com.
About ERG Property Advisors
ERG Property Advisors (ergpa.com) 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.
Founded by real estate industry veterans with over 50 years of combined experience, ERG Property Advisors offers not only exceptional service to clients, but also an exceptional work environment to our employees. Our innovative team structure encourages ERG brokers to work collaboratively with one another. "Real estate is already a very competitive market", says CEO Jim Kinsey,"so, at ERG we want our brokers to work with one another instead of against one another. We believe that internal collaboration is key to a healthy work environment and better client service."
ERG's submarket system allows agents to become experts of a particular neighborhood. Submarket experts stay up-to-date on critical real estate information, including price per square foot, average rents, trends, and new zoning laws affecting the area, and become a vital resource to colleagues and clients. In addition, as a strongly relationship-based firm, we prioritize the development of careers. Our mentorship philosophy has driven us to develop the best one-on-one training in the industry.