As-Is Apartment Building Note For Sale In The Bronx, New York

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Title Company with Hallmark Abstract Service LLC

I am the mortgage holder on an 80% completed, 16 unit building on Fairmont Place in the Bronx, New York. 

There are 12 one bedroom units and 4 two bedroom units.  The anticipated rent for the one bedrooms is $1,200 a month, and $1,450 for the two bedrooms for gross annual rents of $242,400 .  

Because it is currently under construction we are valuing it on a times rent roll basis as opposed to net operating income, but we estimate the finished value to be between $1,700,000 and $2,000,000.   

We are currently entertaining offers for our note, and are available to go over the details with any interested parties.   


Michael Haltman, President
Exeter Commercial LLC/Exeter Holding Ltd.
131 Jericho Turnpike, Suite 202
Jericho, New York 11753
516.338.7500

exetertraining@aol.com

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Michael Haltman, Partner
Hallmark Abstract Service LLC
131 Jericho Turnpike, Suite 205
Jericho, New York 11753
516.741.4723 (P)
516.741.6838 (F)
mhaltman@hallmarkabstractllc.com
 
 


 

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Michael Haltman

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Additional Information

The Hallmark Abstract Sentinel is written for the purpose of keeping our clients and subscribers current on any issues that may have the potential to impact the real estate, mortgage or title insurance markets. Examples of these issues include the current foreclosure crisis and the potential that foreclosures already completed could be overturned due to a variety of legal issues.