Amsterdam Avenue 201 West 105th Street Upper West Side Manhattan, NY

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1 Amsterdam Avenue 201 West 105th Street Upper West Side Manhattan, NY This information hasmemorandum been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy Offering of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of New York, Inc. Activity ID: Z Marcus & Millichap. All rights reserved p. 1

2 Non-endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. All property showings are by appointment only. Please consult your Marcus & Millichap agent for more details. p. 2

3 Pricing and Financial Analysis Amsterdam Avenue 201 West 105th Street - Upper West Side Manhattan, NY

4 Pricing and Financial Analysis Financial Overview Value Indicators Annual Income Current Price $23,500,000 Residential Gross Potential Income $1,013,625 Gross Square Feet 35,290 Cellular Tower Income $45,407 # Units 33 Retail Gross Potential Income $249,110 Price Per SF $ Expense Reimbursements $30,340 Price Per Unit $712,121 Vacancy/Collection Loss (3%) ($37,882) Current Cap Rate 3.41% Effective Gross Income $1,300,599 Current GRM Annual Expenses Current Property Taxes $326,929 Fuel $35,290 Water & Sewer $30,616 Insurance $26,468 Repairs & Maintenance $14,500 Common Area Electric $5,294 On Site Payroll $15,000 Elevator $6,000 Management Fee (3%) $39,018 Total Expenses $499,114 Net Operating Income $801,485 Unit Mix Analysis Unit Type No. of Units Average Rent Monthly Rent FM RS RC Retail/Comm. Retail 4 $5, $20, N/A N/A N/A 4 Studio Apartment 1 $1, $1, N/A 1 Bedroom Apartment 1 $2, $2, N/A 2 Bedroom Apartment 2 $1, $2, N/A 3 Bedroom Apartment 15 $3, $46, N/A 4 Bedroom Apartment 10 $3, $31, N/A Total 33 $105, p. 4

5 Pricing and Financial Analysis Rent Roll 201 West 105th Street, Manhattan Valley, Manhattan, NY Retail Unit Tenant Approx SF Current Rent Rent PSF Lease Expiration Tax Reimbursement Retail $5, $ Retail 2 Deli 1,800 $9, $ /31/2021 $17, Retail 5 Hair Salon 650 $2, $ /30/2022 $1, Retail 6 Ranchito 700 $2, $ /31/2021 $8, Retail Monthly Income $20, Apartments Unit Bedrooms Rooms Status Current Rent Lease Expiration FM $2, /30/ FM $2, /31/ Studio 2 FM $1, /30/ RS $2, /31/ RC $1, RS $ /31/ RS $1, /31/ RS $1, /31/ FM $4, /31/ FM $3, /30/ FM $3, /31/ FM $3, /31/ FM $3, /31/ FM $4, /31/ FM $4, /31/ FM $3, /30/ RS $1, /30/ FM $4, /31/ FM $4, /30/ FM $3, /31/ RC $1, RC $1, RS $2, /31/ FM $4, /31/ FM $4, /31/ FM $3, /31/ FM $4, /31/ FM $3, /31/2018 BSMT 2 4 FM $0.00 5/31/2018 Residential Monthly Income $84, Total Annual Income $1,262, *** Hair Salon and Ranchito have 3% annual increases & the Deli has 4% annual increases *** p. 5

6 Pricing and Financial Analysis Income & Expenses Building Gross Square Footage 35,290 Number of Units 33 Commercial Units 4 Residential Units 29 Approximate Available Air Rights (SF) 10,262 Current Potential Income Current %PGI Per SF Retail Gross Potential Income $249, % Vacancy/Collection Loss (3%) ($7,473) Expense Reimbursements $30,340 Retail Effective Gross Income $271,976 Residential Gross Potential Income $1,013, % Vacancy/Collection Loss (3%) ($30,409) Cellular Tower Income $45,407 Residential Effective Gross Income $1,028,623 Total Effective Gross Income $1,300,599 Expenses Current %EGI Per SF Property Taxes $326, % $9.26 Gas $35, % $1.00 Water & Sewer $30, % $0.87 Insurance $26, % $0.75 Repairs & Maintenance $14, % $0.41 Common Area Electric $5, % $0.15 On Site Payroll $15, % $0.43 Elevator $6, % $0.17 Management Fee (3%) $39, % $1.11 Total Expenses $499, % $14.14 Net Operating Income $801,485 p. 6

7 Property Description Amsterdam AmsterdamAvenue Avenue 201 West 105th Street - Upper West Side Manhattan, NY

8 Property Description Investment Overview Investment Highlights Rare Upper West Side Elevator Building Just three Blocks from Subway Line 1 and In Close Proximity to Subway Lines B & C Low Average Rent in 20 Free Market Apartments Excellent Corner Retail with 75 Feet of Frontage on Amsterdam Avenue Approximately 10,262 Square Feet of Available Air Rights Marcus & Millichap is pleased to offer 201 West 105th Street, located on the corner of Amsterdam Avenue in the Upper West Side section of Manhattan, New York. The subject property, 201 West 105th Street, is a sixstory mixed-use elevator building that consists of four retail units and 29 residential units. The property is built 75 feet by 88 feet on the first through sixth floors and sits on a foot by 100-foot lot with approximately 35,290 gross square feet. The property is zoned R8A/ C2-5/EC-2 allowing for approximately 10,262 gross square feet of available air rights (Block: 1877, Lot: 31) This property offers investors and developers the rare opportunity to acquire a mixed-use elevator building with a low average rent in 20 free market apartments and 75 feet of corner retail frontage on Amsterdam Avenue in the Upper West Side section of Manhattan, New York. p. 8

9 Property Description Property Summary The Offering Property Address Amsterdam Avenue aka 201 West 105th Street New York, NY Accessor s Parcel Number Zoning R8A/C2-5/EC-2 Site Description Number of Units Number of Buildings Number of Stories Year Built Gross Square Feet Lot Size Type of Ownership , FT x 100 FT Fee Simple p. 9

10 Property Description Maps p. 10

11 Property Description Aerial View p. 11

12 Property Description Neighborhood Overview The Upper West Side has been known to many as the easygoing and vibrant community that exists as a place to escape from the concrete jungle. Lined with Central Park to the east, the Hudson River to the west, 59th Street to the south and 110th Street to the north, the Upper West Side has become one of the greenest and most coveted neighborhoods to live in New York. The Upper West Side is home to various landmarks and destinations, such as the American Museum of Natural History, Lincoln Center, Columbus Circle, and the world renowned Central Park. The neighborhood has been a setting for many films and television shows because of its pre-war architecture, colorful community and rich cultural life. With the presence of many elementary schools as well as Colombia University, the Upper West Side exists as a common place for families, students and young professionals to enjoy the restaurants, luxury shopping and scenery. p. 12

13 Property Description Surrounding Developments Circa Central Park Circa Central Park is a new condo development sitting on the Northwest corner of Central Park which will contain 38 units. FXFOWLE and Artimus Construction have worked together to offer luxurious designs and amenities, such as a private gym, 3,000 square foot landscaped courtyard, rental accessories for the park, children s playroom, study room and a shared rooftop terrace. The Haswell Currently in progress is a massive addition on top of a large rent stabilized building and will be named The Haswell. The project will add 64 residential units on top of the existing six story, 144 units. Spanning from two to five-bedroom apartments, each unit is projected to boast an average size of 1,905 square feet, and amenities will include private and communal outdoor spaces, a reading room, and a renovated lobby. Waterline Square Located on the border of the Midtown and Upper West Side districts, the three newly constructed Waterline Square towers are the some of the newest buildings to redefine the ever-evolving New York City skyline. All three buildings will consist of 263 condo units and the remaining units to be luxury rentals. The design and architecture of the three steel and glass construction buildings presents itself to unique, breathtaking panoramic views of the Hudson River. Each unit has contemporary designs with open layouts, tall ceilings, and ample lighting. 50 West 66th Street Extell Development is underway with a new Upper West Side condo tower projected to be the tallest building in the Upper West Side. Nestled just steps from Central Park West, 50 West 66th Street is set to provide 127 condominiums with luxurious, modern designs. A focal point of the buildings architecture will feature a planted communal terrace/garden on the entire 16th floor of the new development. 250 West 81st Street 250 West 81st Street will be an 18 story condominium tower in the Riverside Drive / West End Avenue area. The new construction is planned to have 31 units in the completed structure. The building will host a plethora of amenities, such as basement storage, bike room, children s playroom, fitness center, library, private lounge, roof deck, and sports courts.. p. 13

14 Offering Memorandum Amsterdam Avenue201 West 105th Street - Upper West Side Manhattan Offices Throughout the U.S. and Canada