FOR SALE GFI REALTY SERVICES EXCLUSIVE OFFERING. Tremont (4)-Story Walk-Up Apartment Building 9 Units. 617 East 179 th Street Bronx, NY

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1 FOR SALE Tremont (4)-Story Walk-Up Apartment Building 9 Units Bronx, NY Asking Price: $1,695,000 GRM: 10.7 x RR CAP Rate: 7.0%

2 Property Description: GFI Realty Services, LLC is pleased to present the exclusive opportunity to purchase, a (4)-story walk-up apartment building comprised of eight apartments and a legal carriage house in the back rear of the building. The asset is located in the Tremont section of the Bronx. The property totals 8,580 sf and was constructed in The building is in close proximity to Little Italy, Fordham University and The Bronx Zoo. It is also located just two blocks off of East Tremont, a major commercial corridor, and walking distance to the 2, 5, B & D subway lines. Layout Block/Lot Assessment Year Built Lot Size Built Zoning FAR FAR as Built Tax Class Mortgage 1/3; 1/4; 4/5; 3/6 = 45 Total Rooms 3069/102 $62, x x 65 (1 st Floor) 33 x 20 (Rear) 33 x 65 (2 nd -4 th Fl) (approx. 8,580 sf) R B Delivered free and clear. Income: Apartments $ 157,884 Effective Gross Income: $ 157,884 Estimated Expenses: Real Estate Taxes $ 8,588 Water/Sewer $ 8,000 Fuel- Oil #2 $ 10,800 Electric $ 1,125 Insurance $ 5,000 Payroll $ 3,825 Repairs, Maintenance & Misc. $ 3,825 Total Expenses: $ 41,163 NOI: $ 116,721 Apartments: 9 Price Per Square Foot: $198 Rooms: 45 Price Per Unit: $188,333 Average Rent/Unit/Mo: $1,462 GRM: 10.7 x RR Average Rent/Room/Mo: $292 CAP Rate: 6.9% Asking Price: $1,695,000 All Cash

3 AERIAL

4 Rent Roll: 617 East 179th Street Bronx, NY Unit Tenant Legal Rent Pref. Rent Rooms Status LXP 1A Unique Ppl Serv ices $1, $1, RS Jun-19 1B Kimberlyn Martinez $1, $1, RS Aug-18 2A Nelida Torres $ $ RS/S8 Jul-19 2B Occupied $2, $2, RS Aug-20 3A Vacant (Projected) $2, $2, RS 3B Nyreen Quinones $1, $1, RS Apr-20 4A Danisha Velez $1, $1, RS Nov-20 4B Sotero Garcia $ $ RC RH Paul Lyons $1, $1, RS Oct-20 Total Monthly Income $14, $13, Total Annual Income $170, $157, TRANSIT MAP The property is located within walking distance to the 2, 5, B & D subway lines.

5 ZONING MAP R7 districts are medium-density apartment house districts. The height factor regulations for R7 districts encourage low apartment buildings on smaller zoning lots and, on larger lots, taller buildings with low lot coverage. As an alternative, developers may choose the optional Quality Housing regulations to build lower buildings with higher lot coverage. Regulations for residential development in R7-1 and R7-2 districts are essentially the same except that R7-2 districts have lower parking requirements. Height Factor Regulations: Height factor buildings are often set back from the street and surrounded by open space and on-site parking. The floor area ratio in R7 districts ranges from.87 to a high of 3.44; the open space ratio ranges from 15.5 to As in other height factor districts, a taller building may be obtained by providing more open space. For example, 76% of the zoning lot with the 14-story building is required to be open space (3.44 FAR x OSR). The maximum FAR is achievable only when the zoning lot is large enough to accommodate a practical building footprint as well as the required amount of open space. The building must be set within a sky exposure plane which, in R7 districts, begins at a height of 60 feet above the front lot line and then slopes inward over the zoning lot. In R7-1 districts, parking is required for 60% of the dwelling units, and can be waived if five or fewer spaces are required. In R7-2 districts, parking is required for 50% of the units, and waived is 15 or fewer spaces are required.

6 PROPERTY MAP For Commercial Financing Contact: Will Watkins Daniel Lerer Senior Director of Finance Director, Finance Licensed Real Estate Salesperson Licensed Real Estate Salesperson P. (212) P. (212) E. E.