Membership Interest/Bankruptcy Sale: 540 Concord Avenue, Bronx

11-24-2021
11-25-2021

540 Concord Ave, Bronx, NY 10455

Auction Date: December 21, 2021 at 2:00 PM

Rosewood Realty Group has been exclusively engaged in the Chapter 7 Bankruptcy sale of all Debtor’s right, title and interest in and to Debtor’s combined 100% limited liability company membership interest in Mel Service Inc., (collectively, the “Collateral”), the owner of the property, to the highest qualified bidder at a public (online) auction.

540 Concord Avenue is a mixed-use property in the highly desirable Mott Haven neighborhood of the Bronx. The 6-story walkup is 100% occupied and comprised of 32 residential units and 6 commercial units. Approximately, 24,790 square feet on a 100’ x 80’ lot, the asset is in an R7-1 zone with a C2-4 commercial overlay. The property is blocks from the 4 and 6 New York City subway lines, offering easy accessibility both into Manhattan and to the Hudson Valley.
 

Property Description

6 story, mixed-use asset • 32 residential units, 6 retail units • 24,790 SF on a 100’ x 80’ lot • Located on the corner of 149th Street & Concord Avenue • Surrounded by a variety of transportation options • 25 minutes to Grand Central Station

Key Property Information

Listing Status
Available
Listing Type
Auction
Multifamily type
Mid-Rise
Price
$ 5,250,000
No. of Units
38
Cap Rate
7.9%
Building Size
24,790 Sq ft
Lot Size
8,000 Sq ft
No. of Stories
5
Opportunity Zone
Off
Price per unit
$ 138,158

Financial Details

Gross Income
$ 675,483
Operating Expenses
$ 259,581
Net Operating Income
$ 415,902
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