nyinvestmentsales.com Boulevard East WEEHAWKEN, NJ Views of NYC from the property

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1 911 nyinvestmentsales.com Boulevard East WEEHAWKEN, NJ Views of NYC from the property

2 Confidentiality & Conditions This Offering was prepared by Cushman & Wakefield and has been reviewed by the Owner. It contains select information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information which a prospective purchaser may desire. Financial projections shall not be relied upon, are provided for general reference purposes only, and are based on assumptions relating to the general economy, competition, and other factors beyond control and, therefore, are subject to material change or variation. Actual results will differ from those projected. An opportunity to inspect the Property will be made available to qualified prospective purchasers. In this Offering, certain documents, including the leases and other materials, are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. This Offering is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Cushman & Wakefield or Owner. Each prospective purchaser is to rely solely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein. Owner and Cushman & Wakefield expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Owner shall have no legal commitment or obligation to any purchaser reviewing this Offering or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by Owner and any conditions to Owner s obligations thereunder have been satisfied or waived. Cushman & Wakefield is not authorized to make any representations or agreements on behalf of Owner. This Offering is the property of Cushman & Wakefield and may be used only by parties approved by Cushman & Wakefield. The Property is privately offered and, by accepting this Offering, the party in possession hereof agrees (i) to return it to Cushman & Wakefield immediately upon request of Cushman & Wakefield or Owner and (ii) that this Offering and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Cushman & Wakefield and Owner. Your obligations to keep the Evaluation Material confidential shall not include information that: (i) is or becomes publicly available other than as a result of acts by you or your Representatives in breach of this agreement; or (ii) on your counsel s advice must be disclosed pursuant to law or a subpoena or other court order, but only to the extent specified in such subpoena or court order; provided prior to complying with any such order you shall give written notice to us that such demand has been made upon you and to the extent not legally prohibited you shall provide us with an opportunity to contest any such direction or order. The terms and conditions set forth above apply to this Offering in its entirety Cushman & Wakefield. The material in this presentation has been prepared solely for information purposes, and is strictly confidential. Any disclosure, use, copying or circulation of this presentation (or the information contained within it) is strictly prohibited, unless you have obtained Cushman & Wakefield s prior written consent. The views expressed in this presentation are the views of the author and do not necessarily reflect the views of Cushman & Wakefield. Neither this presentation nor any part of it shall form the basis of, or be relied upon in connection with any offer, or act as an inducement to enter into any contract or commitment whatsoever. NO REPRESENTATION OR WARRANTY IS GIVEN, EXPRESS OR IMPLIED, AS TO THE ACCURACY OF THE INFORMATION CONTAINED WITHIN THIS PRESENTATION, AND CUSHMAN & WAKEFIELD IS UNDER NO OBLIGATION TO SUBSEQUENTLY CORRECT IT IN THE EVENT OF ERRORS. 2

3 Table of Contents Property Information. 4 Property Photos. 5 Transportation. 7 Weehawken Overview. 9 Tax Map & Survey. 10 Comparable Sales & Rental Comps. 11 Contact Information. 13 3

4 ASKING PRICE: $1,695,000 PROPERTY DESCRIPTION Cushman & Wakefield has been hired, on an exclusive basis, to arrange the sale of 911 Boulevard East, Weehawken, New Jersey This unique property is a 4,000 square foot residential building sitting atop the Palisade Cliffs with forever protected views of the New York City skyline. The property rests on two combined lots totaling 4,558 square feet. The building is allocated as three legal apartments averaging an approximate 1,250 square feet each. The property also has a large drive-way which can accommodate approximately six cars as well as a two-car garage. 911 Boulevard East will be delivered vacant could potentially be appreciated for many different uses including single family- tenancy, an as-is rental, or a value-add renovation opportunity. This one-of-a-kind offering presents a rare opportunity to purchase a unique asset along a premier corridor. PROPERTY INFO BUILDING DESCRIPTION Block & Lot 59 / 10 Building Size 4,000 Square Feet Zoning R-4: Multifamily Apartments Three (3) Lot Size 4,558 Square Feet Avg. Apartment 1,250 square Feet Delivery Vacant Driveway 6 Tandem Spaces Assess. / Taxes $327,500 / $17,008 Garage Two Car Garage 911 Boulevard East, Weehawken Weehawken continues to grow as a residential enclave within Hudson County as continued Class-A development flourishes along the Gold Coast. The town also has an established and attractive commercial retail district along Park Avenue. With direct access to the Light Rail and NJ Transit Buses, 911 Boulevard East has convenient access to surrounding cities including Manhattan. 4

5 Property Photos Views of NYC from the property 5

6 Property Photos 6

7 911 Boulevard East Weehawken, NJ Transportation Map 911 Boulevard East 7

8 Transportation Overview TRANSPORTATION OVERVIEW 911 Boulevard East is well connected due to its location near various mass transportation options. The immediate area provides convenient access to Manhattan and other neighboring cities through the Light Rail, New York Waterway, NJ Transit bus, and hassle free entry to major roadways and bridges. HUDSON-BERGEN LIGHT RAIL The Hudson-Bergen Light Rail is a 21-mile system that operates 24/7 along the Hudson River from Weehawken to Bayonne. The system has 24 stations in total spread throughout Hudson County. The light rail system transports people from the densely populated residential communities to economic, retail, and transportation hubs. The train has connectivity to the PATH (Port Authority Trans-Hudson) train which provides immediate access to both Midtown and Downtown Manhattan. NEW YORK WATERWAY FERRY New York Waterway is the largest privately-owned commuter ferry service carrying 30,000 passenger trips per day, and 8 million trips per year. The company operates 34 ferry boats between 21 routes servicing between New Jersey and Manhattan. There are terminals in Weehawken, Hoboken, and Jersey City which provide access to the west side of Manhattan including Midtown/West 39 th Street, the World Financial Center in Downtown and Pier11/Wall Street. NJ BUS TRANSIT New Jersey Transit is a stated-owned public transportation system that provides convenient and affordable mass transportation to all of New Jersey. Bus stops reside directly in front of the subject property along Boulevard East. MAJOR ROADWAYS Weehawken has great connectivity to the New York Metro Area via convenient entry to major roadways, bridges, and tunnels. The subject location has direct access to I-95, Route 1/9, Route 495, Route 3, The Lincoln Tunnel, The Holland Tunnel, and The George Washington Bridge. These significant points and roadways link Weehawken to surrounding cities providing residents with short commutes and easy travel. Transportation Network Distance Minutes NJ Transit Bus Stop 0.1 miles 1 minute walk Hudson Bergen Light Rail 0.3 miles 5 minute walk NY Waterway Ferry Terminal 0.5 miles 10 minute walk Lincoln Tunnel 1.7 miles 5 minute drive Holland Tunnel 4.5 miles 15 minute drive George Washington Bridge 7.5 miles 20 minute drive 8

9 Weehawken Information Views of NYC from the property WEEHAWKEN Weehawken has become a premier residential enclaves in Northern New Jersey. With breathtaking views of the Manhattan Skyline, a safe community, and desirable waterfront properties, the town continues to appreciate. The city has a beautiful blend of new development, historic single-family homes, and a sought after commercial retail district. Residents of Weehawken can be described as affluent, educated, and diverse. The majority of the populace is employed in white collar occupations within the nearby employment hubs. With continued Class-A residential development along the waterfront, the composition of Weehawken is supportive of luxury housing. Recently, Weehawken has expanded its business district which includes corporations such as UBS, Swatch Group USA, Hartz Mountain, and Telx. POINTS OF INTEREST The city s main commercial thoroughfare is Park Avenue, which is populated mostly by locally-owned stories, eateries, and bars. Hamilton Park, on Boulevard East, is located at the site of the former Eldorado Amusement Resort. The Atrium, or the River Performing Arts Center, hosts sponsored events for the community. The 9/11 Memorial on the Hudson River Walk at Ferry Boulevard The Horseshoe on Shippen Street is a cobbled street including Weehawken s original town hall. PORT IMPERIAL Located within New Jersey s Gold Coast, Port Imperial is parallel to Manhattan s 33 rd to 85 th Streets. The two mile stretch along the Hudson River has adopted a $2 billion master-plan which consists of 6,000 new housing units, a 300-room hotel, and over 110,000 square feet of retail stores, restaurants, more. The property rests elevated on the Palisade cliffs behind Port Imperial. 9

10 Tax Map & Survey 10

11 Recent Property Sales 911 Blvd East Subject Property $1,695, Blvd East Sold 5/8/2016 $1,725, Boulevard East, Weehawken 791 Blvd East Sold 4/4/2016 $1,525,000 11

12 Residential Rental Comps Residential Rental Comps within the Immediate Area Property Address Name Class Type SF Asking Rent Monthly P.S.F Annual P.S.F 899 Boulevard East Fulton House B Studio 700 $1,650 $2.36 $ Bedroom 800 $2,100 $2.63 $ $1,875 $2.49 $ Boulevard East B 1 Bedroom 1000 $2,400 $2.40 $ Bedroom 1100 $2,600 $2.36 $ $2,500 $2.38 $ Ave at Port Imperial Rivers Edge A Studio 560 $2,150 $3.84 $ Bedroom 900 $3,000 $3.33 $ Bedroom 1150 $3,850 $3.35 $ Boulevard East, Weehawken 870 $3,000 $3.51 $ Ave at Port Imperial RiverParc A Studio 590 $2,175 $3.69 $ Bedroom 890 $2,850 $3.20 $ Bedroom 1200 $4,100 $3.42 $ $3,042 $3.44 $

13 911 nyinvestmentsales.com Boulevard East Retail Reposition or Development Opportunity WEEHAWKEN, NJ ASKING PRICE 9,550 Square Foot Premier $1,695,000 Corner Lot Fahri Ozturk Director, Capital Markets Tyler Van Wagoner Associate, Capital Markets Nyinvestmentsales.com Cushman & Wakefield Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.