LichtensteinRE.

com Helps Provide Desperately Needed New York City

Affordable Housing with Sale of Development Site

This three property assemblage shovel is ready for development with approved plans. It was sold for
$1,650,000 by Andrew Lichtenstein of LichtensteinRE.com.

New York, NY, September 24, 2020 --(PR.com)-- Andrew Lichtenstein, President of
LichtensteinRE.com, has just sold a development site for $1,650,000 all cash. The properties are located
at 1306, 1308 and 1310 Findlay Avenue in the Mount Eden Section of The Bronx.

The new owner will be able to build 30 new apartments in a city that desperately needs affordable
housing. Andrew Lichtenstein says, “It gives me a great feeling to know that I am contributing even in a
small way to help my fellow New Yorkers and Bronx neighbors to enjoy future quality affordable
housing.” According to the New York Times on June 15, 2020, “Since 2013, there have been more than
25 million applications submitted for roughly 40,000 units in the extraordinarily competitive
affordable-housing lottery. Tens of thousands of people, and sometimes many more, vie for the handful of
units available at a time.”

This 6,000 square foot shovel ready assemblage of 3 contiguous adjacent residential lots, came with
shovel ready approved plans that will allow the new owner to build a 7 Story Elevator Apartment
Building with 30 Residential Apartments and 2 Recreation Areas on the First & Second Floors.
Additionally, it will have 9 Parking Spaces in the rear exterior car parking area, plus 16 interior Bicycle
parking, for a total 24,481+/- Possible Gross Buildable Square Feet including 20,640 Buildable
Residential Square Feet.

Upon completion, the new owner could enjoy Potential gross income of up to $651,552.

“LichtensteinRE.com was able to successfully see this deal to completion, even though at the time of
negotiating this sale, it was not only the middle of the worst pandemic of the last hundred years, there was
also the highest unemployment since the great depression,” says Andrew Lichtenstein, who exclusively
represents the seller.

The development site is located in the Mott Haven section of The Bronx on a beautiful tree lined
residential block.

The property was marketed by Andrew Lichtenstein, Inc. LichtensteinRE.com has been exclusively
representing sellers and buyers actively selling, buying and developing multifamily and commercial real
estate in and around New York City.

“Even in this 'tough' new real estate market, we are not only still doing business, but we just closed the
sale of four buildings in Mount Vernon Westchester County and master leased and got five buildings in
the Bronx into contract and we have multiple properties with contracts out for signature, and closings
coming up. I look forward to representing other owners and buyers in this challenging time and in the

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future when we return to normalcy,” says Andrew Lichtenstein.

About LichtensteinRE
LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate
properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate
Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the
world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and
connections with tens of thousands of property owners assures their selling clients the best possible price
when a landlord owner wants to sell their property.

DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real
estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to
deliver the best price, leverage and return on investment possible.

LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property,
LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in
some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew
Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com.

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Contact Information:
LichtensteinRE
Tatiana Lichtenstein
917-379-9592
Contact via Email
lichtensteinre.com

Online Version of Press Release:

You can read the online version of this press release at: https://www.pr.com/press-release/821949

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