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239-245 East Tremont Avenue 239 E Tremont Ave 7,400 SF 100% Leased Retail Building Bronx, NY 10457 $9,387,519 CAD ($1,268.58 CAD/SF)
Investment Highlights
- BID DEADLINE FRIDAY, MAY 15TH | 12PM
Executive Summary
RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 239-245 East Tremont Avenue , a retail property delivered vacant, creating strong upside as a development investment.
The site is ideally positioned to leverage the 485-x tax incentive program, which offers Bronx developers up to 40 years of property tax relief on new multifamily construction in exchange for affordable unit set-asides ? a critical tool for improving project feasibility in today's capital markets environment. Mount Hope?s
combination of proximity to Manhattan, strong transit infrastructure, and a predominantly aging pre-war housing stock creates a compelling supply-demand dynamic with meaningful upside for developers willing to capitalize on the neighborhood' searly-stage trajectory. The Bronx today mirrors where Brooklyn was
decades ago and early-mover developers stand to benefit most from that momentum.
The site is ideally positioned to leverage the 485-x tax incentive program, which offers Bronx developers up to 40 years of property tax relief on new multifamily construction in exchange for affordable unit set-asides ? a critical tool for improving project feasibility in today's capital markets environment. Mount Hope?s
combination of proximity to Manhattan, strong transit infrastructure, and a predominantly aging pre-war housing stock creates a compelling supply-demand dynamic with meaningful upside for developers willing to capitalize on the neighborhood' searly-stage trajectory. The Bronx today mirrors where Brooklyn was
decades ago and early-mover developers stand to benefit most from that momentum.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Building Size
7,400 SF
Building Class
C
Year Built
1920
Price
$9,387,519 CAD
Price Per SF
$1,268.58 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.85
Lot Size
0.20 AC
Zoning
R8 - R8 Zoning in NYC is a “high density” residential zoning district.
Frontage
Amenities
- Air Conditioning
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 02809-0045 | Improvements Assessment | $547,729 CAD |
| Land Assessment | $294,062 CAD | Total Assessment | $841,791 CAD |
Property Taxes
Parcel Number
02809-0045
Land Assessment
$294,062 CAD
Improvements Assessment
$547,729 CAD
Total Assessment
$841,791 CAD
Contacts
-
Mitchel Flaherty -
Brian Whelan -
Jonathan Auerbach -
Luke Stone -
RIPCO Real Estate
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239-245 East Tremont Avenue | 239 E Tremont Ave
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