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, President

Hallmark Abstract Service LLC

131 Jericho Turnpike, Suite 205

Jericho, New York 11753

516.741.4723 (P)

516.338.7538 (F)

mhaltman@hallmarkabstractllc.com