Greenwich Street Portfolio

Transcription

1 Greenwich Street Portfolio Greenwich Street Portfolio Development Development Properties Properties for for Sale Sale CHARLTON GREENWICH VANDAM Properties for Sale Air Rights for Sale Potential Property for Sale Greenwich St., 533 Greenwich St., 535 Greenwich St., 95 Vandam St. 95 Vandam Air Rights, 533 Greenwich St. Air Rights Charlton Street The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

2 Development Site for Sale Greenwich Street The east side of Greenwich Street between Charlton and Vandam Streets Block/Lot: 597/ x 100 (Approx.) Lot Area: 10,000 SF (Approx.) Zoning: M1-6 FAR: 10.0 Buildable SF: 100,000 SF (Approx.) Existing SF: 57,500 SF (Approx.) Air Rights: 42,500 SF (Approx.) Assessment: $1,269,000 (07/08) Est. Taxes: $127,649 (07/08) Historic District: None Description: This property is a 100' wide 6 story fireproof warehouse building with a gross square footage of approx. 57,500 SF. Except for about 2,000 SF on the second floor the entire building has either very short term leases or can be delivered vacant. There is one holdover tenant in litigation. This building has approximately 42,500 SF of buildable air rights and an additional 35,000 BSF (Approx.) of air rights are available for acquisition from 95 Vandam St.. Located in Hudson Square, one of Manhattan's fastest changing neighborhoods. This is an ideal purchase for an investor, developer, or end user. CHARLTON Revenue (Actual and Projected): $2,047,600 Additional Income Passthroughs: $30,000 Total Projected Income: Total Projected Expenses: Projected Net Operating Income: Asking Price: $40,000,000 PPSF: $ PPBSF:$400 Robert Burton X 7770 rburton@masseyknakal.com $2,077,600 $311,361 $1,766,239 T E R T S H IC W N E R G VANDAM Nancy Guo X 7724 nguo@masseyknakal.com The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

3 DEVELOPMENT SITE FOR SALE 535 Greenwich Street The east side of Greenwich Street between Charlton and Vandam Streets. Block/Lot: 597/38 Size: x Lot Area: 2,511 SF Stories: 2 Building Size: x Gross SF: 4,725 Zoning: M1-6 FAR: 10.0 Buildable SF: 25,110 Air Rights: 10,385 Assessment: $33,009 (07/08) RE Taxes: $5,095 (07/08) Description: The property is a development site located in Hudson Square. Located in an M1-6 zoning district with an approximate lot area of 2,511 SF, there is an as-of-right buildable square footage of approximately 25,110 SF. Currently, it is occupied by a non-for profit as a theatre school for the handicapped. This site is ideal for a hotel or office development. Asking Price: $10,000,000 PPBSF: $ The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

4 Ground Floor & Basement Condo for Sale 95 Vandam Street Block/Lot: 597/1001 Floor Size: Gross SF: 49' 5 1/2" x 100' 8 3/4" (Approx.) 49' 5 1/2" x 94' (Approx.) Ground Floor: 4,000 (Approx.) Basement: 3,500 (Approx.) Zoning: M1-6 Assessment: $ 437,400 (07/08) Est. Taxes: $ 43,998 (07/08) Historic District: The North side of Vandam Street between Greenwich Street and Hudson Street. No Description: This retail two floor commercial condominium currently houses two tenants who are paying below market rents of less than $30 per square foot. The leases expire in 2009 and Future permitted uses include all Use Group 17 uses except no food, no adult entertainment and no public entertainment. In addition to the GRFL and BSMT commercial unit (comprising % of the common interest) there are 10 residential units. This property is ideally suited for an investor looking for a property with low-management and a long-term hold and tremendous retail upside. Located in Hudson Square, one of Manhattan's fastest changing neighborhoods. Projected Income: PPSF Anuual Rent GRFL (DiNoto) Approx $9,371.25/mo Exp. 8/31/09 $28 $112,455 * BSMT (Herbert Wolf) Approx $7,460/mo Exp. 1/31/10 $26 $89,521 ** * Plus 70% of RET increases over 04/05 base year $5,998 * ** Plus 30% of RET increases over 00/01 base year $7,214 ** Gross Annual Reve nue: $215,188 Proje cted Annual Expe nse s: Real Estate Taxes $43,998 Common Charges ($1,726.42/mo.) $20,717 Insurance $6,033 Projected Annual Expenses: $70,748 Projected Net Operating Income: $144,440 Asking Price: $3,500, Montague Street, 3rd Floor GRM: 275 Madison CAP Avenue, Rate:4.13% 3rd Floor Queens Boulevard, 14 th Floor Brooklyn, NY For Additional Information, New Please York, NY Contact Exclusive Sales Agent: Forest Hills, NY T: / F: T: ROBERT BURTON / F: T: / F: x7770 rburton@masseyknakal.com NANCY GUO x7724 nguo@ masseyknakal.com The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

5 Air Rights for Sale 95 Vandam Street Block/Lot: 597/ Building Floor Size: 79.5' x 100.7' (Approx.) 79.5' x 94' (Approx.) Lot Area: 8,014 (Approx.) Building Gross SF: 44,838 (Approx.) Zoning: M1-6 FAR: 10 Buildable SF: 80,136 Potential Air Rights: 35,298 (Approx.) Assessment: $ 392,400 Est. Taxes: $ 44,364 Historic District: The North side of Vandam Street between Greenwich Street and Hudson Street. No Description: There are approximately 35,000 buildable square feet of air rights above the condominium building at 95 Vandam Street. They may be applied to any property that is contiguous with this property for at least 10 feet. These properties include: 533 Greenwich/99 Vandam St. (Block 597/Lot 37); 535 Greenwich St. (Block 597/Lot 38); 537 Greenwich St. (Block 597/Lot 39); Charlton St. (Block 597/Lot 46); 106 Charlton St. (Block 597/Lot 48); and 87 Vandam/323 Hudson St. (Block 597/Lot 62) * Yellow shading indicates possible receptors of the air rights. RB indicates properties for sale that are exclusively represented by Robert Burton. RB Asking Price: $400/BSF RB For Additional Information, Please Contact Exclusive Sales Agents: ROBERT BURTON 205 Montague Street, 3rd Floor 275 Madison Avenue, 3rd Floor Brooklyn, NY x7770 New York, NY T: / F: rburton@masseyknakal.com T: / F: Queens Boulevard, 14 th Floor Forest Hills, NY T: / F: NANCY GUO x7724 nguo@masseyknakal.com The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

6 533 Greenwich Street PRIME HUDSON SQUARE INVESTMENT PROPERTY FOR SALE The northeast corner of Greenwich and Vandam Streets (Aka Vandam Street) Block/Lot: 597/ x (Approx.) Lot Area: 2,500 SF (Approx.) Gross SF: 17,542 SF (Approx.) Zoning: M1-6 FAR: 10.0 Buildable SF: 25,000 SF (Approx.) Air Rights: 7,458 SF (Approx.) Assessment: $688,500 (07/08) Est. Taxes: $82,124 (07/08) Historic District: None Description: This property is a 25' wide 7 story residential loft building with 14 units. There is an elevator shaft without a working elevator and brand new mechanicals in the basement including a new boiler. There are 12 IMD tenants who have been on a rent strike since The property is located in Hudson Square, one of Manhattan's fastest changing neighborhoods near many prime development sites. CHARLTON Total Projected Expenses: $105,596 Asking Price: $6,250,000 Robert Burton X 7770 rburton@masseyknakal.com Nancy Guo X 7724 nguo@masseyknakal.com GREENWICH VANDAM Massey Knakal Realty Services 275 Madison Avenue, 3rd FL., New York, NY T: (212) F: (212) The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. Page 1