Off-Market Deal in Bronx

Investment Highlights

East 228th st bronx 3 family brick 22x70 built on 36x115 lot - 3000sqFt built (8500sqFt buildable and 13k buildable with CF) All tenants paying - RR below Apartment 2R, , $1600 cash. Apartment 2F, $1600 cash Apartment 1, $2775 cash 4-garages, $125+$125+$200. Basements are currently vacant but can get $1200 and $800 respectively Property comes as is $899k *CLOSED* this one took almost 2 years. Buyer in our groups got the tenants out & bought the air rights from next door & flipped the property for $2.1m as a development site even though he ASSURED us that was not his plan. Money can make even the most righteous among us spin yarns of every color — the honest man suddenly develops a talent for the plausible half-truth, the “I’d never,” the “that’s not my intention,” all delivered with a straight face and a firm handshake. No hard feelings, really — a deal’s a deal, the air rights were his to buy and the flip was his to make. Plans change the moment the deed clears. They always do — the only question is whether you saw it coming. On to the next one.