LichtensteinRE.com Just Sold 3-Family Property for $948,888 in Opportunity Zone in Tremont, Bronx
Andrew Lichtenstein, President of LichtensteinRE.com, has just sold a property for $948,888 all cash. The property is located at 2015 Arthur Avenue in the Tremont Section of The Bronx
LichtensteinRE.com procured 96.5% of the purchase price at the incredibly low rate of only 3.65% fixed for 30 years for the first time primary owner-occupancy home buyer. With the attractive financing package, the lucky buyer was able to achieve unparalleled leverage.
The buyer’s research attracted her to the property because it is in an IRS opportunity zone with the potential to pay zero capital gains tax after 10 years of ownership.
Andrew Lichtenstein, the seller’s exclusive broker, indicated that “the buyer is a recent Harvard graduate who wanted to utilize lowest rate, highest leverage to live and receive cash flow from her first NYC investment property. The brick building with lovely back yard, 2 balconies, 2+ car parking and large usable basement recreation room is surrounded by brand new multifamily developments under construction now and being planned. There is no question that with all the new improvements the block and nearby that the location of this house should become even better.”
The property contains three apartments with two 3 bedrooms and one 2 bedroom.
“Even in this “tough” new real estate market, we are not only still doing business, but we just closed the sale of four buildings in Mount Vernon Westchester County and master leased and got five buildings in the Bronx into contract in less than a month and we have multiple properties with contracts out for signature,” says Andrew Lichtenstein.
The location is wonderful for many reasons including that it is less than a mile from prime Bronx Little Italy, is close to the Bronx Zoo and is a block from Tremont Park. This property is located on the near shopping and public transportation NYC MTA # 5 and # 2 trains.
This lucky buyer beat out several other competing buyers all vying to buy this brick beauty.
The property was marketed exclusively by Andrew Lichtenstein, Inc. LichtensteinRE.com has been actively selling multifamily and commercial real estate for its clients in and around New York City.
LichtensteinRE.com specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE.com is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property.
DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible.
LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com