Exclusive Offering Prime Bedford-Stuyvesant 91 Macon Street Brooklyn, NY

Transcription

1 Exclusive Offering Prime Bedford-Stuyvesant 91 Macon Street Brooklyn, NY 140 Broadway New York, NY it s who you know

2

3 Property Overview 91 Macon Street Brooklyn, NY Bedford Stuyvesant Property Description GFI Realty Services, LLC is pleased to offer the exclusive opportunity to purchase 91 Macon Street located on a quiettree lined block between Marcy and Nostrand Avenues in prime Bedford-Stuyvesant, Brooklyn. The subject property is a renovated six unit (4)-story walk-up apartment building. All of the units are free market. The asset was constructed in 1900 and totals 3,588 sf on a 1,950 sf lot. The building was completely gut renovated with the exterior tastefully refinished and the units completed with high-end finishes, stainless steel appliances and high ceilings. The asset also features a finished garden in the rear. The asset is well-situated just off the busy commercial corridors on Fulton Street and Nostrand Avenue, which are occupied by trendy restaurants, quaint cafes and many local businesses. The building is conveniently located just two blocks away from the A & C subway lines. Bedford-Stuyvesant continues to attract new residents and investors. There are also new retailers, restaurants and shops opening on a regular basis. Newcomers are attracted to the beautiful brownstones and townhouses that comprise the majority of the landscape, historic buildings including churches, numerous community gardens and easy access to Manhattan via the A & C subway lines. Layout: Block/Lot: Year Built: Lot Size: Built Size: FAR: As Built: Assessment: Tax Class: Zoning: Mortgage: 1/2; 2/3; 1/4; 2/5 = 22 Total Rooms 1844/ x 100 (approx. 1,950 sf) 19.5 x 45 (approx. 3,588 sf) $94,492 2B R6B Delivered free and clear. Asking Price: $3,600,000 3

4 Income & Expenses Effective Gross Income Apartments Total 136th St 137th St Expenses 138th St 78th Rd 78th Dr Main Street Real Estate Taxes (17/18) Water & Sewer Fuel Electricity Insurance Payroll Repairs, Maintenance & Misc. Total 141st St 72nd Rd 72nd Dr 73rd Ave 75th Ave 75th Rd Main Street 76th Ave 76th Rd KEW GARDENS HILLS 150th St 77th Ave 77th Rd 78th Ave 78th Rd 79th Ave $178,800 $178,800 $12,181 $8,171 $6,160 $849 $3,000 $3,400 $3, th St $37,161 Parsons Blvd Union Tpke NOI Union Tpke $141,639 Village Rd ASKING PRICE CAP Rate GRM Avg Rent Per Apt Avg Rent Per Room 82nd Ave 138th St 82nd Dr Main Street $3,600,000 Grand Central Pkwy 3.9% 20.1 x RR $2,483 Hoover $677Ave 150th St 84th Ave 4

5 Rent Roll Unit Tenant Monthly Rent Size Lease Start Lease End 1A Amy Stearley & Pamela Stearley $1, /1/2016 9/30/2017 1B Mitchel, Jonathan & Mary $2, Yard 4/15/2017 4/14/2018 2A Sandra DiGiovanni $2, /1/ /31/2017 2B Andrew Lawler $2, /1/2017 5/31/ Alexandra Katz, Sean Marzug-McCarthy & Emily Wilson $3, Terrace 11/15/ /14/ Kennji Kizuka, Philip Thomas, Jose Agustin Benjamin, Hirohiko Kizuka & Ahmad Fakhoury $3, /1/2016 8/31/2017 Total Monthly Income $14,900 Total Annual Income $178,800 5

6 Property Photos 6

7 Neighborhood Map 91 Macon Street Brooklyn, NY Transit Map 91 Macon Street Brooklyn, NY 7

8 Zoning Map 196 Russell Street Brooklyn, NY 6B districts are often traditional row house districts, designed to R preserve the scale and harmonious streetscape of the neighborhoods developed during the 19th century with four-story attached buildings. Many of these houses are set back from the street by stoops or small front yards. The floor area ratio is 2.0 and the mandatory Quality Housing regulations also accommodate apartment buildings at a similar four- to five-story scale. The base height of a new building before setback must be between 30 and 40 feet; the maximum building height is 50 feet. To maintain the traditional streetscape, curb cuts are prohibited on lots narrower than 40 feet. The front line wall of a new building, on any lot up to 50 feet wide, must be as deep as one adjacent street wall but no deeper than the other. Off-street parking is not allowed in front of a building and the area between the front wall and the street line must be landscaped. Parking is required for 50% of a building s dwelling units, or waived if five or fewer spaces are required. 8

9 Market Highlights Bedford Stuyvesant is bordered by Classon Avenue to the west, Flushing Avenue to the north, Broadway to the northeast, Ralph Avenue to the East, and Atlantic Avenue to the south. Depending on which part of the neighborhood you live in, the area is served by the super fast A and C trains. The G is available too. On the east side of the neighborhood, you ll be closer to the J and M trains a half hour ride to lower Manhattan. Buses are plentiful. The major improvement in the streetscape along the Fulton and Nostrand Corridor to include new landscaping, benches, pavers, signage, and improved cleanliness has been attracting scores of new cafes, restaurants, bakeries, boutiques, galleries, and wine bars to the area. The neighborhood has a wealth of gardens that have transformed empty lots into flower and vegetable gardens. Some of these projects date back over 20 years. 9

10 Demographics Area: Population: Population density: Median household income 2013: Males Females Median age males: Median age females: Average household size: square miles 177,431 63,782 people per square mile $43,872 81,615 95, people 10

11 Property Map Main Street 72nd Rd 72nd Dr 73rd Ave 75th Ave KEW GARDENS HILLS 150th St 137th St 75th Rd 76th Ave 136th St 76th Rd 77th Ave Parsons Blvd 77th Rd 78th Ave Main Street 78th Rd 79th Ave 150th St Union Tpke 138th St 78th Rd 78th Dr 141st St Union Tpke Village Rd Grand Central Pkwy 134th St 82nd Ave 138th St Hoover Ave 82nd Dr Main Street 150th St 84th Ave 11

12 140 Broadway New York, NY 10005