Auction/Non-Performing Loan Sale - Bronx Retail

Please note that the above-referenced price reflects the Starting Bid price for a non-performing loan collateralized by a retail property, which is being marketed for sale by private auction.​ Online bidding will take place December 16-18.​ Seller reserves the right to accept or reject bids.​ 4% Buyer’s Premium.​ Additional terms apply.​ Please visit Paramount Realty USA’s website for more details.​

Paramount Realty USA (“Paramount”) has been retained on an exclusive right-to-sell basis by the owner (“Seller”) of a loan(“Loan”), which is secured by a first mortgage collateralized by the property located at 702-706 East Tremont Avenue, Bronx, NY (“Property”), to sell the Loan by auction, as provided in further detail herein.

The Loan was originated 12/20/13, matured 1/1/24 and carries an unpaid balance of approximately $299,337. The Property consists of a single-story retail building, configured as 3 stores, plus basement. The building is approx. 3,400sf (excluding lower level) on a ~5,000sf lot located on East Tremont Avenue near the intersection of Crotona Avenue in the East Tremont submarket of the Bronx.

The Property appraised 11/19/13 for $740,000. Paramount’s auction represents a unique opportunity to acquire the Loan at a compelling price