GFI REALTY EXCLUSIVE OFFERING Borough park CORNER (3)-STORY WALK-UP APARTMENT BUILDING

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1 GFI REALTY EXCLUSIVE OFFERING Borough park CORNER ()-STORY WALK-UP APARTMENT BUILDING 0 50th Street brooklyn, ny ASKING PRICE: $,500,000

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4 GFI Realty Services LLC is pleased to present the exclusive offering of 0 50th Street (aka 9 Ft. Hamilton Pkwy), a corner ()-story walk-up apartment building located in the Borough Park section of Brooklyn. The property is ideally situated on the northeast corner of 50th Street and Ft Hamilton Parkway. This prewar asset was constructed in 9 and totals 6,006 square-feet; it is comprised of six units, one of which is currently vacant, and storage in the basement. The apartments are configured as one ()-bedroom unit, four ()-bedroom units and one ()-bedroom unit. Five of the six apartments were gut renovated; completed with laundry connection and hardwood floors. The building wide systems are in excellent condition and the electrical systems have recently been upgraded. The asset is located on a prime corner in Borough Park, at the intersection of 50th Street and Ft. Hamilton Parkway. Maimonides Medical Center is half a block away from the property on Ft. Hamilton Parkway. Additionally, Ft. Hamilton Parkway provides residents with numerous eateries and local shops. The property is in proximity to New Utrecht Avenue and th Avenue, two major commercial corridors lined with countless local and national businesses as well as institutions including Citibank, USPS, Children s Place, Rite Aid and Chase Bank. Borough Park is a neighborhood in the southwestern part of the borough of Brooklyn, in New York City, United States. The neighborhood covers an extensive grid of streets between Bensonhurst to the south, Bay Ridge to the southwest, Sunset Park to the west, Kensington to the northeast, Flatbush to the east, and Midwood to the southeast. Bounded by Fort Hamilton Parkway to the west, 60th Street to the south, McDonald Avenue and Bay Parkway to the east, and McDonald Avenue to the north, the neighborhood is home to more than 00 religious institutions. The majority of the properties in the area are single family semidetached homes with some low-rise multifamily mixed into the landscape. Borough Park is served by the F and D trains; it is about 0 minutes from Midtown Manhattan. Bus lines include the 6, which runs along th and th Avenues, and the, which runs along 9th and 50th Streets. Investment Highlights Well Maintained Prewar Asset Majority Renovated Units Completed with Laundry Connections Cash Flowing Asset with Great Potential Upside Proximity to Major Commercial Corridors Located on Prime Corner in Borough Park

5 income and expenses Effective Gross Income Income Apartments $ 9,7 Storage $ 9,000 Total $ 8,7 Expenses Real Estate Taxes (8/9) $ 6,09 Water & Sewer $,9 Fuel (Gas- New Boiler) $,7 Utilities $ 9 Insurance $,6 Payroll $ - Repairs, Maint. & Misc. $,000 Total $ 0,97 NOI $ 08,050 Asking Price $,500,000 Apartments: 6 Layout /; /; /5 = Total Rooms Block & Lot 569/0 Assessment: $6,70 Year Built 9 Lot Size 0.5 x 05.8 Built 6 x 77 (approx. 6,006 sf) Zoning R6 FAR. FAR as Built.88 Tax Class A Mortgage Delivered free and clear. Avg Rent Per Apt $,798 Avg Rent Per Room $ 9 CAP Rate.% GRM 8. x RR Price Per Unit $ 6,667 Price Per Square Foot $ 6 5

6 rent roll Unit Rent Legal Rent Size Lease Term F R F R F- Vacant (Projected) R Storage $ 97.7 $, $, $, $, $, $ $ 97.7 $, $, $, $,7.00 $, $ //07-6/0/09 5//07-/0/09 //08-/8/09 6//08-5//09 9//07-8//09 //08-/8/09 Total Monthly Income $,57.7 $,68.9 Total Annual Income $ 8,7. $ 5,7.6 property photos 6

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8 Property Map neighborhood map 7th St 8th St 8th St 9th St 5th St 7th St 8th St 50th St 9th St Rabbi Welssmandl Way 5st St 7th St Rabbi Welssmandl Way 5st St 5nd St 5rd St 8th St 9th St Rabbi Welssmandl Way 5nd St 5rd St 5th St 5st St 55th St Fort Hamilton Pkwy th Street Brooklyn, NY Fort Hamilton Pkwy 0th Ave 0th Ave 0th Ave Fort Hamilton Pkwy th Ave th Ave th Ave th Ave nd St rd St th St 5th St 5th St 5th St 6th St 6th St 6th St New Utrecht Ave New Utrecht Ave New Utrecht Ave New Utrecht Ave th Ave th Ave th Ave 6 th Ave 8 th Ave 7 th Ave th Ave Restaurants D & D Coffee Shop Asia Glatt Kosher Orchidea Milk N Honey Progreso Deli 5 Amnon s Kosher Pizza Spoons Retails & Shops Boro Park Lumber & Home Center Minzer s Optical Rite Aid Eichler s Judaica Facilities United States Postal Service Banks Chase Banks Capital One Bank Bank of America Financial Center 8

9 transit map Borough Park is served by the F and D trains; it is about 0 minutes from Midtown Manhattan. Bus lines include the 6, which runs along th and th Avenues, and the, which runs along 9th and 50th Streets. 9

10 property map Borough Park is a quiet enclave in Brooklyn filled with numerous local shops and eateries as well national businesses including several banks and institutions. 0

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