ERG Commercial Real Estate announced the sale of a three building mixed-use parcel in the Wakefield section of the Bronx for $2.04M.
ERG was approved and appointed by the court to manage the property at 4639-4643 White Plains Road during the foreclosure process and represent the undisclosed lender in the marketing and sale of the property.
The 12,260-square-foot mixed-use, three story property was built in 1910 and renovated in 2000. It consists of 16 residential units, five ground-floor retail spaces, and on-site parking accessible via East 241st Street.
“Our hybrid approach, combining property management and brokerage expertise, provided the lender with an efficient and cost-effective solution for the distressed asset. The lender was extremely pleased with the outcome and the execution of the process from start to finish,” said ERG’s Mary Guarino.
“The highlight of this transaction that underscores the firm’s trusted reputation and experience handling complex foreclosure and REO dispositions,” added Guarino.
