Situation Overview
Donald Biase, as Chapter 11 Trustee of the substantively consolidated bankruptcy estate of Bayway Hand Car Wash, et. al, U.S. Bankruptcy Court District of New Jersey, Case No. 13-32632 (MBK), has retained Keen-Summit Capital Partners LLC, as his exclusive real estate advisor for the sale of that parcel of improved real property located at 2669 Webster Avenue, Bronx, New York along with the operating car wash business located thereon. The bid deadline for the auction is August 4, 2015 and the minimum over bid is $1,225,000.
Area Overview
The subject property has a corner location with frontage on Webster Avenue, a primary commercial roadway and East 195th Street which is a local roadway. The property is located adjacent to Fordham University. This area of the Bronx is rapidly improving and will give way to increased development opportunities.
The neighborhood is an Urban location with over 75% built up. The growth rate has been stable and the populations expected to continue to grow through the next 5 years. The boundaries of the neighborhood are Moshulu Parkway to the North, East Fordham Road to the South, Bronx River Parkway to the East and Grand Concourse to the West.
