Asking Price: $7,995,000 $7,495,000

Transcription

1 BRAX REALTY GROUP LLC 10 Times Square Suite 6064 New York, NY Asking Price: $7,995,000 $7,495,000 For more information please contact exclusive broker: Michael J. Ferrara Managing Principal Office: Cell:

2 BRAX REALTY GROUP LLC 10 Times Square Suite 6064 New York, NY P r o p e r t y I n f o r m a t i o n : Cross Streets 2 nd Ave & 3 rd Ave Block / Lot 1429/30 Lot Dimensions 25 x Lot Size (SF) 2,554 Building Dimensions 25 x 58 Building Size (SF) 7,951 Stories 4 Units 10 Apts + 2 Retail Zoning R8B FAR (Floor Area Ratio) 4 (As Built: 3.11) Total Buildable (SF) 10,216 Tax Class 2 Real Estate Taxes (17 /18 ) $143,563 F i n a n c i a l s : Income: Apartments: $268,756 Retail: $208,500 R.E.T. Reimbursement: $ 4,641 Total: $481,897 Expenses: Real Estate Taxes: $143,563 Water & Sewer: $ 10,609 Electric: $ 2,401 Fuel (Oil #2): $ 7,587 Payroll: $ 6,000 Repairs & Maintenance: $ 10,000 Insurance: $ 12,000 Total: $ 192,160 Net Operating Income: $ 289,737 Asking Price: $7,495,000 R e m a r k s : Located just 3 blocks north of the Q subway entrance at 72 nd & 2 nd Avenue & a short walk to the 6 train at 77 th & Lexington Avenue The boiler is about 6 years old Citi-bike station located directly across the street +/- 2,265 SF of air rights available Apartments have not been renovated 10 Apartments 7 Free Market 3 Rent Stabilized Metrics: 3.86 % Cap Rate 15.5 x RR $942/SF For More Information, Please Contact Exclusive Broker: Michael J. Ferrara Managing Principal Office: Cell: MF@braxrealty.com

3 R e n t R o l l Unit (Floor) Current Rent Legal Rent Bedrooms (NRSF) $/NRSF Status Increases Lease Exp. Retail B. Café $12, SF + Basement and Backyard $176 3% Annually 7/31/2026 Retail Lucky Foot & Back Spa $4, SF + Basement $77 3% Annually 6/30/ (Ground) $1,800 Studio (350) $61 FM T a x M a p M-M (B.Cafe uses as Office) 2 (Ground) $ $ Studio (350) $26 RS 5/31/ (Ground) $1,800 Studio (350) $61 FM 4/30/ (Ground) $1,850 $2, Studio (350) $63 RS 4/30/ (2 nd ) $2,700 1 BR (610) $53 FM 4/30/ (2 nd ) $3,000 2 BR (610) $59 FM 7/31/ (3 rd ) $1, $1, BR (610) $35 RS 5/31/ (3 rd ) $3,095 2 BR (610) $60 FM 8/31/ (4 th ) $2,850 1 BR (610) $56 FM 8/31/ (4 th ) $2,700 2 BR (610) $53 FM 6/30/2018 Total Monthly: $39, Residential Avg: $53 Total Annually: $477, Notes: B. Café: Lease is guaranteed by tenant Pays 25% of the tax increase over base year 16 /17 and sub metered for water usage Tenant has occupied the space since 2006 and has a security deposit of $25,000 Lucky Foot (Lease Commenced July 1st, 2016): Lease is guaranteed by tenant and has a security deposit of $13,500 Pays 10% of the tax increase over base year and is sub metered for water usage

4 M a p & T a x M a p

5 P o t e n t i a l F l o o r P l a n t o C o n v e r t e a c h f l o o r i n t o T w o, 2 B e d r o o m s

6 R e t a i l P i c t u r e s

7 R e t a i l P i c t u r e s B. Café and Outdoor Garden

8 A p a r t m e n t P i c t u r e s