GFI REALTY EXCLUSIVE OFFERING bensonhurst large corner (4)-STORY WALK-UP APARTMENT BUILDING

Transcription

1 GFI REALTY EXCLUSIVE OFFERING bensonhurst large corner ()-STORY WALK-UP APARTMENT BUILDING 8 77th street brooklyn, ny ASKING PRICE: $8,70,000

2 8 77th street brooklyn, NY bensonhurst aerial

3 GFI Realty Services LLC is pleased to present the exclusive offering of 8 77th Street, a large corner ()-story walk-up apartment building located at the intersection of 77th Street and 9th Avenue in the Bensonhurst section of Brooklyn. The prewar asset was constructed in 97 and totals,000 sf occupying a 0,000 sf lot. The building is comprised of 7 rent stabilized apartments, including a super s unit, and a vacant office space (potential conversion into two apartments). The apartments are configured as seven ()-bedroom units and thirty ()-bedroom units. The asset is ideally situated off two major commercial corridors in the area, 8th Avenue and 8th Street. Residents are able to have access to countless national and local businesses including Starbucks, Bank of America, Marshalls, the Gap, Chase Bank, Sprint, Foot Locker and P.C. Richards. The property is located within walking distance of Dyker Beach Golf Course, Bath Beach Park, McKinley Park as well as Milestone Park, a local attraction. Additionally, numerous institutions are within blocks of the asset including the Brooklyn Public Library-New Utrecht Branch, the United States Post Office and the Social Security Office. The D train, which runs on the BMT West End Line above 8th Street, provides a direct connection to Grand Street in Manhattan while the N and W trains, which runs on the BMT Sea Beach Line near rd Street, provides a direct connection to Canal Street. Subway stations in the neighborhood include New Utrecht Avenue / nd Street, 7st Street, 79th Street, 8th Avenue, 8th Avenue, 0th Avenue, 0th Avenue, Bay Parkway, Bay Parkway, th Avenue, Avenue N and Avenue P. This acquisition presents an investor with the unique opportunity to acquire a large income producing asset in Brooklyn. Bensonhurst is becoming a very desirable area to live in Brooklyn, with many new developments in the works attracting retail tenants with great shops, dining, and convenient transportation. The property is in excellent condition and is located in the heart of Bensonhurst on a prime corner surrounded by detached homes and similarly constructed low-rise buildings and just steps away from countless retailers, eateries and major subway lines. (rent roll provided upon request) Investment Highlights Well Maintained Pre-War Asset Cash Flowing Asset with Great Potential Upside Currently Residential Units are 00% Occupied Proximity to Major Commercial Corridors, Parks, Institutions and Mass Transit

4 income and expenses Effective Gross Income Income Apartments $ 0,7 SCRIE $,97 Office (Vacant-Projected) $,000 Total $, Expenses Real Estate Taxes (8/9) $ 98,7 Water & Sewer $ 7,000 Fuel $,00 Electric $,90 Insurance $,87 Payroll (Value of Free Apt + $,000/mo) $ 8, Repairs, Maint. & Misc. $,000 Total $ 8, Apartments: 7 Rent Stabilized Units Office: Layout 7/; 0/ = 8 Total Rooms Block & Lot 8/9 Year Built 97 Lot Size 00 x 00 Built 00 x 90 (approx.,000 sf) Zoning R FAR. FAR as Built. Tax Class Mortgage Delivered free and clear. NOI $,9 Asking Price $ 8,70,000 Avg Rent Per Apt $,0 Avg Rent Per Room $ CAP Rate.7% GRM.8 x RR *Price Per Unit $,9 Price Per Square Foot $ 7 *The vacant office space has potential to be converted into two apartments

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6 marketplace overview Suburban Feel Plus Tons of Urban Amenities Make Bensonhurst a Unique Neighborhood

7 Bensonhurst is a culturally diverse residential neighborhood located in the southwestern part of Brooklyn. The area boasts detached single and two-family homes as well as low-rise apartment buildings that generally do not exceed fourstories. The area is known for two major enclaves, Little Italy and Little Hong Kong or Brooklyn s Chinatown. Bensonhurst has long been well-known as the Little Italy of Brooklyn, containing a large Italian-American and Italian immigrant population. Below the West End Line, served by the D train along on 8th Street between 8th Avenue and Coney Island Stillwell Avenue, has emerged Brooklyn s Chinatown. marketplace overview The area is overflowing with national and local retailers as well as eateries with an international flare. The commercial hubs of Bensonhurst reside along 8th Street, New Utrecht Avenue and 8th Avenue. Bensonhurst offers residents a suburban feel along with all of the neighborhood amenities offered in more urban areas of Brooklyn including several Starbucks; major retailers including The Gap, Foot Locker and P.C. Richards; and numerous banks including Chase Bank, TD Bank, Citibank and Bank of America. Bensonhurst is also home to several attractions and parks including Dyker Beach Golf Course, McKinley Park, Milestone Park, Leif Ericson Park, Bensonhurst Park, Seth Low Playground and Bath Beach Park. Manhattan is easily accessible via several major transit lines that service the area. The D train, which runs on the BMT West End Line above 8th Street, provides a direct connection to Grand Street in Manhattan while the N and W trains, which runs on the BMT Sea Beach Line near rd Street, provides a direct connection to Canal Street. 7

8 neighborhood map rd Ave th Ave 78th St 79th St 80th St 8st St th Ave 77th St th Ave 7th St 8 th Ave 7th St 77th St th Ave New Utrecht Ave 7nd St 7rd St 7th St 7th St 7st St 7th Ave Bay Ridge Ave 70th St 7st St 7th St 8th St 8th Ave 8th St 8rd St 8nd St th Ave 8nd St 80th St 8st St th Ave 79th St 78th St 7 7th St 7th Ave 7th St 7th St 7th St 8th Ave 7rd St 7nd St 9th Ave Bay 0th St th Ave Bay th St Bay th St 7th Ave Benson St 8th St th Ave 8th St Dyker Beach Golf Course Brooklyn, NY. miles Bay th St Bay th St Bay th St Bay 7th St 7th Ave 8th Ave 8rd St 8th St Benson St Rutherford Pl Bay 9th St 7th Ave 0 Bay 0th St 0 8th Ave Bay 9th St Bay 0th St 8 New Utrecht Ave 9th Ave Benson St 8th Ave 8th Ave 8th St Bay nd St 8th St 8rd St 8th St Bay rd St 8nd St 9th Ave 0th Ave 8st St 80th St 9 Bay th St 79th St 78th St 0th Ave 77th St 8th St 9th Ave 8th St 7 8th St 8rd St 8nd St st Ave 9 8st St 0th Ave 0th Ave 80th St 79th St 8 77th Street, Brooklyn, NY 78th St 77th St Bay Pkwy 7th St st Ave Restaurants il Colosseo Wasabi Hot Spot Nabe Hand Pull Noodle & Dumplings House Taste of China Papa John s Pizza Dunkin Donuts Lioni Italian Heroes Starbucks East Ocean Buffet Retails & Banks Bensonhurst Liquors DF Brothers Sports Center Planet Fitness Chase Bank TD Bank Gap Effie s Boutique Marshalls CVS NetCost Market Rite Aid Institutions United States Postal Service Bensonhurst Center Brooklyn Public Library (New Utrecht Branch) Social Security Office Public School 8 New Ut 8

9 transit map Manhattan is easily accessible via several major transit lines that service the area. The D train, which runs on the BMT West End Line above 8th Street, provides a direct connection to Grand Street in Manhattan while the N and W trains, which runs on the BMT Sea Beach Line near rd Street, provides a direct connection to Canal Street. 9

10 property map Bensonhurst offers easy accessibility to Manhattan via mass transit and features numerous amenities including major commercial corridors, playgrounds, and institutions. 0

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