487 E 93RD STREET. Brooklyn, NY

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1 Brooklyn, NY

2 FINANCIAL ANALYSIS 2

3 487 E 93 rd Street Pricing Summary Display FINANCIAL ANALYSIS Offering Price $1,050,000 Number of Units 5 Price Per Unit $210,000 Gross Square Feet 4,600 Price Per Square Foot $ Buildable SF As-Of-Right 2,920 Current Cap Rate 5.39% Pro Forma Cap Rate 8.49% Current GRM Pro Forma GRM 9.26 Current Gross Income $87,384 Pro Forma Gross Income $113,400 Current NOI $56,615 Pro Forma NOI $89,105 3

4 RENT ROLL SUMMARY FINANCIAL ANALYSIS 487 E 93rd Street Residential Income Unit Notes Sq. Footage Status PPSF Current Rent Pro Forma Rent 1F Two Bed / One Bath Approx. 785 Section 8 - M to M $ $ 1, $ 1, R Two Bed / One Bath Approx. 785 Section 8 - M to M $ $ 1, $ 1, F Three Bed / One Bath Approx. 785 FM Jan 1 $ $ 1, $ 2, R Two Bed / One Bath Approx. 785 FM M to M $ $ 1, $ 1, Basement Three Bed / One Bath Approx. 1,000 Can Be Vacant $ $ 1, $ 2, Monthly $ 7,282 $ 9,450 Annually $ 87,384 $ 113,400 Additional Income From Side Parking: Two Spaces Available - $150 per month $3,600 per year 4

5 OPERATING STATEMENT FINANCIAL ANALYSIS 5

6 PRICING DETAIL FINANCIAL ANALYSIS 6

7 487 EAST 93RD STREET EXECUTIVE SUMMARY NUMBER OF UNITS UNIT TYPE VITAL DATA Price $1,050,000 CURRENT YEAR 1 Loan Type All Cash CAP Rate 5.39% 8.49% Price/Unit $210,000 GRM Price/SF $ Net Operating Income $56,615 $89,105 Number of Units 5 Net Cash Flow After Debt Service 5.39% / $56, % / $89,105 Rentable Square Feet 4,600 Total Return 5.39% / $56, % / $89,105 Year Built / Renovated 1930 / 2012 Lot Size 0.11 acre(s) UNIT MIX 5 Apartments 828 APPROX. SQUARE FEET OFFERING SUMMARY MAJOR EMPLOYERS EMPLOYER # OF EMPLOYEES US Post Office 7,711 Brookdale Univ Hosp & Med Ctr 6,700 City of New York 5,585 Suny Downstate Medical Center 5,555 Nyc Doitt 5,388 Nyc Police Department 5,082 N Y C Department of Education 5,057 Employees Retirement System 5,033 Maimonides Medical Center Inc 4,123 New York City Council 3,859 L I C H Corporation 3,600 Brookdale Hosp Ctr Hsing Co 3,508 DEMOGRAPHICS 5 Total 4,600 1-Miles 3-Miles 5-Miles 2016 Estimate Pop 136,465 1,135,466 2,539, Census Pop 129,375 1,058,210 2,369, Estimate HH 49, , , Census HH 46, , ,392 Median HH Income $39,692 $42,740 $48,020 Per Capita Income $19,516 $22,074 $25,985 Average HH Income $53,438 $60,139 $71,284 # 7

8 487 East 93rd Street Financing Soft Quote Loan Amount: $600,000 Loan Term: 5 Years (7 year, 10 year and 15 year options are available as well) Amortization: 30 Years Interest Rate: 4.05% Monthly Payment: $2,882 Prepayment Penalty: 5% - 4% - 3% - 2% - 1% Lior Goldberg MMCC Loan Originator Direct: Cell: Lior.Goldberg@marcusmillichap.com

9 PROPERTY OVERVIEW PROPERTY OVERVIEW The subject property, 487 East 93rd Street, is a two-story apartment building located on East 93rd Street between Linden Boulevard and Willmohr Street in the Remsen Village section of Brooklyn, New York (Block: 04690; Lot: 0022). The building is built approximately 23 feet by 80 feet and sits on a 30 foot by 100 foot lot. The property's certificate of occupancy is conforming for five residential units. The building has been renovated in 2012 with a new boiler, gas heat and all new plumbing throughout the building. All units are separately metered. There are currently three two-bedroom units and two three-bedroom units. The basement unit can be delivered vacant to allow for renovations and increase in rents. All the rents are below market which provides for tremendous upside given the location. The property offers an additional 2,920 buildable square feet of air rights as-of-right. Additional income can be collected from the private driveway. The building is located in Remsen Village within close proximity to the "3" train at Saratoga Avenue. The property is located two blocks from Brookdale Hospital and Medical Center. The property is zoned R6 PROPERTY OVERVIEW The Subject Property's is a Multifamily Apartment Buildings Located in the Remsen Village Section of Brooklyn, New York Free Market Brick Construction Built 23 ft. x 80 ft. Approx. 4,600 Square Feet Tax Class 2A Additional 2,920 Buildable Square Feet As-Of-Right Additional Income Available From Side Parking Renovated Units With Updated Boiler and Plumbing Within Proximity to the 3 Train at Saratoga Avenue 9

10 CERTIFICATE OF OCCUPANCY 10

11 LOCAL MAP 11

12 LOCAL MAP 12

13 LOCAL MAP 13

14 AERIAL PHOTO 14

15 REGIONAL MAP 15

16 P R E S E N T E D B Y Matthew R. Peters Licensed Real Estate Salesperson Brooklyn Office Tel: (718) Fax: (718) matthew.peters@marcusmillichap.com License: NY