351 ADELAIDE AVENUE STATEN ISLAND, NEW YORK AVAILABLE FOR SALE INVESTMENT OPPORTUNITY

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1 351 ADELAIDE AVENUE STATEN ISLAND, NEW YORK AVAILABLE FOR SALE INVESTMENT OPPORTUNITY

2 OVERVIEW Located in the Oakwood section of Staten Island, 351 Adelaide Avenue is an investment opportunity on New York City s most opportune island. This 16-unit, 2-story multifamily dwelling is on the corner of Adelaide Avenue and Falcon Avenue, just off of Guyon Avenue. The buildings Gross Square Footage is 8,460 SF, plus a 4,230 SF basement. It sits on a lot size of 18,420 SF. There are air rights available at 2,592 SF. The building has seen a few major capital improvements including a newly installed roof in 2013, as well as new front steps, porch and basement windows. Individual apartment units have seen repairs and improvements including replacement of carpets, in addition to new ovens, hot water heaters, toilets and vanities. PROPERTY SIZE 11,052 SF / 2-story BUILDING SIZE 95 X 45 GROSS SF 8,460 plus 4,230 SF basement AIR RIGHTS 2,592 SF LOT SIZE 18,420 SF (Approx.) YEAR BUILT ZONING R3-1 FAR 0.60 PARKING Off street parking COMMENTS UPGRADES New Owens Corning 40-yr roof installed in 2013 New porch and front steps New basement windows NEARBY AMENITIES Less than a mile from Midland Beach, Franklin D. Roosevelt Boardwalk and Ocean Breeze Track & Field Athletic Complex LOCATION Easy access to Interstates 95, 87, 287 and 278

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4 FINANCIAL OVERVIEW REVENUE Gross Monthly Income $13,342 Gross Annual Income $160,104 EXPENSES (ESTIMATED) Exterior Laundry - basement Real Estate Taxes $24,965 Water / Sewer $3,800 Electric $2,200 Grounds keeping / snow $2,300 Insurance $5,200 Repairs & Maintenance $2,400 Management $4,000 TOTAL: $44,865 Building entrance Electric meters - basement Gross Annual Income $160,104 Less Expenses $44,865 NET OPERATING INCOME: $115,239 Studio- Kitchen/living area Studio - Kitchen

5 RENT ROLL UNIT # TENANT STATUS UNIT TYPE LEGAL RENT LEASE EXPIRATION MONTHLY RENT ANNUAL RENT PROJECTED MONTHLY RENT PROJECTED ANNUAL RENT 11 TE Studio - October $600 $7,200 $600 $7, RS Studio $850 Vacant - $- $950 $11, RS Studio $860 December $860 $10,320 $860 $10, RS Studio $765 September $765 $9,180 $765 $9, Owner unit Studio - - $- $900 $10, RS Studio $810 January $810 $9,720 $810 $9, Owners unit Studio - - $- $900 $10, RS Studio $901 October $901 $10,812 $901 $10, RS Studio $900 March $900 $10,800 $900 $10, RS Studio $890 April $890 $10,680 $890 $10, RS Studio $781 January $781 $9,372 $781 $9, RS Studio $786 December $786 $9,432 $786 $9, RS Studio $777 August $777 $9,324 $777 $9, RS Studio $794 April $794 $9,528 $794 $9, RS Studio $890 June $890 $10,680 $890 $10, RS Studio $788 April $788 $9,456 $788 $9,456 TOTAL $36,688 $10,542 $126,504 $13,292 $159,504 UNIT MAINTENANCE RECORD UNIT # TENANT STATUS UNIT TYPE COMMENTS 11 TE Studio Replaced carpet, painted, new electrical panel 12 RS Studio Replaced carpet, painted, new electrical panel, new oven, tub suround 13 RS Studio Painted, new electrical panel, new hot water heater, new toilet 14 RS Studio New carpet, new electrical panel 15 Owner unit Studio Studio owners unit, new electrical panel 16 RS Studio Painted, new electrical panel, new oven, new toilet 17 Owners unit Studio Studio owners unit, new electrical panel 18 RS Studio Painted, new electrical panel, new hot water heater (in bsmt), new toilet, new vanity 21 RS Studio Painted, new electrical panel, new carpet, new toilet 22 RS Studio Studio painted 23 RS Studio Studio painted 24 RS Studio Studio painted 25 RS Studio Studio painted 26 RS Studio Studio painted, new hot water heater 27 RS Studio Studio painted, new electrical panel, shower wall coverings, new toilet, cleaned rugs RC - Rent Controlled RS - Rent Stabilized TE - Temporary Exemption Projected Rent

6 ROUTES AND AIRPORTS Roads leading into and out of Staten Island make it accessible and convenient for travel to all three states in the Tri-State area. The Verrazano-Narrows Bridge is the main northern connection from Brooklyn, which turns into I-278 and runs through the northern part of Staten Island, connecting Staten Island to I-95. On the western side of Staten Island, the West Shore Expressway (440) becomes I-287, once crossing over into New Jersey. Other major roadways include the Bayonne Bridge that leads to parts of northern New Jersey, EWR and I-78. Newark Airport Newark Liberty International Airport (EWR) is the nearest airport to 351 Adelaide Avenue, which is located approximately a half hour away. LaGuardia International Airport (LGA) and John F Kennedy International Airport (JFK) are also within an hour ride from the property.

7 Laguardia Airport John F. Kennedy Airport 351 ADELAIDE AVENUE

8 LOCATION The nearest major cross street is Hylan Boulevard, a major roadway on Staten Island with a heavy commercial presence. Less than a half mile from the property is Tysens Park Shopping Center, with major retailers such as Stop & Shop, Bank of America, HomeGoods, and CityMD. Located next door is the Hylans Commons, which will be going under significant renovations and rebranded as The Boulevard. Current retailers such as CVS, IL W AY Chipotle, Applebee s and Five Below and proposed future retailers LA Fitness, ShopRite, A.C. Moore, Ulta RA Beauty and Alamo Drafthouse Cinema will occupy this The Metropolitan Transportation Authority (MTA) provides public transportation for residents of Staten Island. Oakwood is serviced by the Oakwood Heights station for rail service and S57 for bus service within Staten Island. Providing direct service to Lower Manhattan, the Staten Island Ferry is a free service that is located in the St. George section of Staten Island. The Staten Island Railway connects directly to the Staten Island Ferry, making a seamless commute for residents. ST AT E N IS LA N D more than 440,000 SF, two-level shopping center.

9 *CURRENTLY UNDER CONSTRUCTION* HYLAN COMMONS Former Hylan Commons CHIPOTLE 57 TYSONS PARK SHOPPING CENTER BANK OF AMERICA ADELAIDE AVENUE STATEN ISLAND, NEW YORK STARBUCKS STARBUCKS

10 351 ADELAIDE AVENUE STATEN ISLAND, NEW YORK TO ARRANGE AN INSPECTION PLEASE CONTACT MATTHEW GIORDANO CBRE Center Blvd. Long Island City, NY CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.