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598 E Gun Hill Rd 2,100 SF 100% Leased Retail Building Bronx, NY 10467 For Sale
EXECUTIVE SUMMARY
NOTE SALE
Distressed Note Sale: Bronx, NY 10467. Mortgage and note secured by commercial property on a major corridor. Building contains three units and is producing income. Opportunity for an experienced buyer to continue foreclosure and take advantage of equity and default interest rate. Serious inquiries only. Please email Raymond@forestparkny.com for additional information.
The property is 598 E. Gun Hill Road. BBL: 2-03357-0140.
This was a hard money loan at $715K.
He went into default last year. They started a foreclosure recently. They are currently owed over $810K.
About $60K in water and taxes. Mostly water because the meter is missing.
12.5% rate now accruing at 24%.
Current payoff ~ $810K.
Three tenants none of which are borrower. Certified rent roll of $100K.
Looking to do a deal. I estimate property value at $1.1-$1.2MM. That is conservative.
Distressed Note Sale: Bronx, NY 10467. Mortgage and note secured by commercial property on a major corridor. Building contains three units and is producing income. Opportunity for an experienced buyer to continue foreclosure and take advantage of equity and default interest rate. Serious inquiries only. Please email Raymond@forestparkny.com for additional information.
The property is 598 E. Gun Hill Road. BBL: 2-03357-0140.
This was a hard money loan at $715K.
He went into default last year. They started a foreclosure recently. They are currently owed over $810K.
About $60K in water and taxes. Mostly water because the meter is missing.
12.5% rate now accruing at 24%.
Current payoff ~ $810K.
Three tenants none of which are borrower. Certified rent roll of $100K.
Looking to do a deal. I estimate property value at $1.1-$1.2MM. That is conservative.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
2,100 SF
Building Class
C
Year Built
1934
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.96
Lot Size
0.05 AC
Zoning
C8-2
Frontage
107’ on Gun Hill Rd
AMENITIES
- Bus Line
- Metro/Subway
Walk Score®
Walker's Paradise (91)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 03357-0140 | Improvements Assessment | $73,872 CAD |
| Land Assessment | $82,289 CAD | Total Assessment | $156,162 CAD |
PROPERTY TAXES
Parcel Number
03357-0140
Land Assessment
$82,289 CAD
Improvements Assessment
$73,872 CAD
Total Assessment
$156,162 CAD
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598 E Gun Hill Rd
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