Log In/Sign Up
Your email has been sent.
239 E Tremont Ave
Bronx, NY 10457
239-245 East Tremont Avenue · Retail Property For Sale
Investment Highlights
- BID DEADLINE FRIDAY, MAY 15TH | 12PM
Executive Summary
RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 239-245 East Tremont Avenue , a retail property delivered vacant, creating strong upside as a development investment.
The site is ideally positioned to leverage the 485-x tax incentive program, which offers Bronx developers up to 40 years of property tax relief on new multifamily construction in exchange for affordable unit set-asides ? a critical tool for improving project feasibility in today's capital markets environment. Mount Hope?s
combination of proximity to Manhattan, strong transit infrastructure, and a predominantly aging pre-war housing stock creates a compelling supply-demand dynamic with meaningful upside for developers willing to capitalize on the neighborhood' searly-stage trajectory. The Bronx today mirrors where Brooklyn was
decades ago and early-mover developers stand to benefit most from that momentum.
The site is ideally positioned to leverage the 485-x tax incentive program, which offers Bronx developers up to 40 years of property tax relief on new multifamily construction in exchange for affordable unit set-asides ? a critical tool for improving project feasibility in today's capital markets environment. Mount Hope?s
combination of proximity to Manhattan, strong transit infrastructure, and a predominantly aging pre-war housing stock creates a compelling supply-demand dynamic with meaningful upside for developers willing to capitalize on the neighborhood' searly-stage trajectory. The Bronx today mirrors where Brooklyn was
decades ago and early-mover developers stand to benefit most from that momentum.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Building Size
7,400 SF
Building Class
C
Year Built
1920
Price
$6,900,000
Price Per SF
$932.43
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.85
Lot Size
0.20 AC
Zoning
R8 - R8 Zoning in NYC is a “high density” residential zoning district.
Frontage
Amenities
- Air Conditioning
Property Taxes
| Parcel Number | 02809-0045 | Improvements Assessment | $401,490 |
| Land Assessment | $215,550 | Total Assessment | $617,040 |
Property Taxes
Parcel Number
02809-0045
Land Assessment
$215,550
Improvements Assessment
$401,490
Total Assessment
$617,040
1 of 27
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
