98 Ralph avenue Brooklyn, NY Bedford stuyvesant

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98 Ralph avenue Brooklyn, NY Bedford stuyvesant fully renovated 4-story apartment building all free market UNITS Asking price: $4,000,0000 113 Richardson

1 98 Ralph avenue Brooklyn, NY Bedford stuyvesant fully renovated 4-story apartment building all free market UNITS Asking price: $4,000, Richardson Street Brooklyn, NY Williamsburg Recently Constructed Luxury Apartment Building $5,700, Broadway New York, NY it s who you know

113 Richardson street Brooklyn, NY williamsburg property overview property description GFI Realty Services, LLC is pleased to offer the exclusive opportunity to acquire 113 Richardson Street, a

The asset is configured as 1 one-bedroom penthouse, 5 two-bedroom and 3 three-bedroom units.

3 113 Richardson street Brooklyn, NY williamsburg property overview property description GFI Realty Services, LLC is pleased to offer the exclusive opportunity to acquire 113 Richardson Street, a recently constructed 4-story walk up loft building consisting of 9 apartments perfectly positioned in prime Williamsburg, Brooklyn. The asset is configured as 1 one-bedroom penthouse, 5 two-bedroom and 3 three-bedroom units. The apartments boasts numerous luxury finishes and amenities including: 12 High Ceilings Exposed & reclaimed brick from original warehouse. Vintage wide plank hardwood floors. Washer/Dryer Units in each apartment. Open layout islands in the kitchen. Polished carrera marble counters & islands. Chef s kitchen with 36 Italian range. Top end appliances under 2-year warranty/cabinents are under 22-year warranty. Mosaic Tile Victorian style bathrooms. Williamsburg is no stranger to trendy establishments and unique residential structures which have been attracting Manhattan s fleeing population of young professionals and small families over the years. These new permanent residents are enjoying the convenience of both living and working within the same borough while still maintaining convenient access to Manhattan. The property is located within close proximity to the G and L subway lines, as well as the Brooklyn-Queens Expressway. block/lot: year built: lot size: built size: FAR: 2723/ x x built: assessment: zoning: tax class: layouts: 8,125 sf $72,639 M1-2/R6A/MX-8 2B 1/3; 5/4; 3/5 = 38 total rooms as built:

4 financial analysis & pricing income & expenses Effective Gross Income Apartments Total $362,664 $362,664 Expenses Real Estate Taxes Water & Sewer Fuel Electricity Insurance Payroll Repairs, Maintenance & Misc. Total NOI Asking Price CAP Rate GRM Price Per Unit Price Per SF Avg Rent Per Apt Avg Rent Per Room $40,697 $5,500 Tenants Pay $950 $3,250 $3,500 $2,000 $55,897 $306,767 $5,700, % 15.7 x RR $633,333 $701 $3,358 $795 4

5 rent roll Unit Rent Description 1A 1B (Private Backyard) 2A 2B 3A 3B 4A 4B Penthouse $2, $3, $3, $4, $3, $4, $2, $3, $2, Bedrooms 2 Bedrooms + 2 Bathrooms 2 Bedrooms 1 Bedroom + 2 Bathrooms 3 Bedrooms 2 Bedrooms + 2 Bathrooms 2 Bedrooms 3 Bedrooms 1 Bedroom (Approx. 1,700 sf of Indoor + Outdoor Space) Total Monthly Income $30, Total Annual Income $362,

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9 neighborhood map 113 Richardson Street Brooklyn, NY transit map 113 Richardson Street Brooklyn, NY The property is within walking distance to the G & L Subway lines. 9

zoning map 113 Richardson Street Brooklyn, NY The M1 district is often a buffer between M2 or M3 districts and adjacent residential or commercial districts.

10 zoning map 113 Richardson Street Brooklyn, NY The M1 district is often a buffer between M2 or M3 districts and adjacent residential or commercial districts. Light industries typically found in M1 areas include woodworking shops, auto storage and repair shops, and wholesale service and storage facilities. In theory, nearly all industrial uses can locate in M1 areas if they meet the more stringent M1 performance standards. Offices and most retail uses are also permitted. Certain community facilities, such as hospitals, are allowed in M1 districts only by special permit, but houses of worship are allowed as-of-right. In M1-5A and M1-5B districts mapped in SoHo/NoHo, artists may occupy joint living-work quarters as an industrial use in loft buildings. Other than M1 districts paired with residence districts in Special Mixed Use Districts M1-D, M1-5M and M1-6M districts are the only manufacturing districts in which residences are permitted. In M1-D districts, limited new residential uses with a maximum FAR of 1.65 are permitted only by City Planning Commission authorization. In M1-5M and M1-6, space in an industrial building may be converted to dwelling units, provided a specified amount of floor area is preserved for particular industrial and commercial uses. Conversion to dwellings is also allowed, with restrictions, in the Special Tribeca Mixed use District. Floor area ratios in M1 districts range from 1.0 to 10.0 and building height and setbacks are controlled by sky exposure planes which may be penetrated by towers in certain districts. Although new industrial buildings are usually low-rise structures that fir within sky exposure planes, commercial and community facility buildings can be constructed as towers in M1-3 through M1-6 districts. In the highest density manufacturing district, M1-6, an FAR of 12 can be achieved with a bonus for a public plaza. Except along district boundaries, no side yards are required. Rear yards at least 20 feet deep are usually required, except within 100 feet of a corner. Parking and loading requirements vary with district and use. M1-1, M1-2, and M1-3 districts are subject to parking requirements based on the type of use and size of an establishment (Section of the Zoning Resolution). For example, a warehouse in the M1-1 district requires one off-street parking space per 2,000 square feet of floor area or per three employees, whichever would be less. Parking is not requires in M1-4, M1-5 and M1-6 districts. Requirements for loading berths of specified dimensions differ according to district, size and type of use. 10

market overview market highlights Williamsburg is bordered by the Brooklyn-Queens Expressway to the east, Kent Avenue to the south, the East River to the west,

The property is within walking distance to Metropolitan Avenue and Lorimer subway stations, which service the G & L lines.

Over the years, this neighborhood has been redefined by a growing population and the rapid development of housing and retail space.

11 market overview market highlights Williamsburg is bordered by the Brooklyn-Queens Expressway to the east, Kent Avenue to the south, the East River to the west, and North 14th Street and Mc- Carren Park to the north. The property is within walking distance to Metropolitan Avenue and Lorimer subway stations, which service the G & L lines. Williamsburg is serviced by the B24, B32, B39, B43, B44, B46, B48, B60, B62, B67, Q54, and Q59 bus routes. Over the years, this neighborhood has been redefined by a growing population and the rapid development of housing and retail space. McCarren Park Williamsburg is known as a residential and retail hot spot with a haven for tech companies catering to Brooklynites who enjoy both living and working within the same borough. In 2014, WeWork announced its first Brooklyn outpost in a 40,000 sf space located in a block-thru, mixed-use development on Bedford Avenue. On the residential side, Williamsburg has approximately 4,300 new units, both constructed and in the pipeline. The former Domino Sugar Factory, which boasts beautiful waterfront views, is being redeveloped as a five-building complex that will include 2,200 residential units and 600,000 sf of office space. WeWork in Williamsburg Artist & Fleas Domino Sugar Factory 11

12 demographics area: population: population density: median household income: males females median age males: median age females: average household size: square miles 127,995 58,727 people per square mile $35,982 64,471 64, people 12

13 property map 13

comparables Subject Property 113 Richardson Street Date Closed: N/A Gross SF: 8,125 SF Sales Price: N/A Building

00 Property #1 540 Driggs Avenue Date Closed: 6/15/2016 Gross SF: 5,200 SF Sales Price: $5,200,000 Building

49 Miles Property #2 76 Franklin Street Date Closed: 5/19/2016 Gross SF: 6,500 SF Sales Price: $5,500,000

14 comparables Subject Property 113 Richardson Street Date Closed: N/A Gross SF: 8,125 SF Sales Price: N/A Building Dimensions: 25 x 65 Residential Units: 9 Key Metrics: N/A GRM: N/A Building Class: Walk-Up Distance: 0.00 Property #1 540 Driggs Avenue Date Closed: 6/15/2016 Gross SF: 5,200 SF Sales Price: $5,200,000 Building Dimensions: 25 x 52 Residential Units: 8 Key Metrics: $650,000/Unit $1,000/SF Building Class: Walk-Up Distance: 0.49 Miles Property #2 76 Franklin Street Date Closed: 5/19/2016 Gross SF: 6,500 SF Sales Price: $5,500,000 Building Dimensions: 29 x 67 Residential Units: 7 Key Metrics: $785,714/Unit $846/SF Building Class: Walk-Up Distance: 0.77 Miles Property #3 109 Franklin Street Date Closed: 1/12/2016 Gross SF: 8,228 SF Sales Price: $6,950,000 Building Dimensions: 48.5 x 54 Residential Units: 7 Key Metrics: $992,857/Unit $844/SF Building Class: Walk-Up Distance: 0.93 Miles 14

15 140 Broadway New York, NY 10005

GFI REALTY SERVICES EXCLUSIVE OFFERING

GFI REALTY SERVICES EXCLUSIVE OFFERING Brooklyn, NY 6 APTS & A COMMERCIAL UNIT Asking Price: $5,300,000 Projected CAP Rate: 5.88% Projected GRM: 15.7 x RR 140 Broadway, 41 41 st st Floor New York, NY NY