FOR SALE AN ALMOST FULL BLOCK OF RETAIL/OFFICE IN PELHAM BAY, BX 2925 & 2931 Westchester Ave, Bronx, NY (Parcel #: ,1)

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Matthew Allen
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Exclusively Listed by LLC Page 1 of 13 FOR SALE AN ALMOST FULL BLOCK OF RETAIL/OFFICE IN PELHAM BAY, BX 2925 & 2931 Westchester

Low Average Rents @ $13 /retail SF/YR Major Upside Air Rights Build In the Future Prime Pelham Bay, BX Neighborhood Retail 29.

Annual Daily Riders @ Buhre Train Station in 2017* ~9,000 Avg.

ly/2921westchester * ** SUMMARY Benefit from substantial upside potential and build in the future in a prime Pelham Bay, Bronx

The subject property consists of almost an entire full block of retail and office and is located in front of the MTA #6 Train

These multiple buildings total 29,700 square feet and sit in an R7-1 / C2-2 zone which may allow for the construction of a 103K

1 Exclusively Listed by LLC Page 1 of 13 FOR SALE AN ALMOST FULL BLOCK OF RETAIL/OFFICE IN PELHAM BAY, BX 2925 & 2931 Westchester Ave, Bronx, NY (Parcel #: ,1) 6 Asking $9,000, % Pro Forma Cap Rate $303 /sq. ft. Low Average $13 /retail SF/YR Major Upside Air Rights Build In the Future Prime Pelham Bay, BX Neighborhood Retail 29.7K Total Building SF & 74K - 103K Buildable SF Development Potential in R7-1 / C2-2 Mixed Use Zone 2,998 Avg. Annual Daily Buhre Train Station in 2017* ~9,000 Avg. Annual Daily Traffic On Westchester Avenue** See Images & More * ** SUMMARY Benefit from substantial upside potential and build in the future in a prime Pelham Bay, Bronx location. The subject property consists of almost an entire full block of retail and office and is located in front of the MTA #6 Train Buhre Avenue Station at the intersection of Westchester Avenue, Buhre Avenue and Crosby Avenue. These multiple buildings total 29,700 square feet and sit in an R7-1 / C2-2 zone which may allow for the construction of a 103K square feet mixed use property (with a community facility). Own a high traffic neighborhood retail hub with an average of 2,998 subway riders* and 9,000 plus drivers** traversing on a daily basis. Ridership Source Data Included in Diligence Package CONTACT EXCLUSIVE AGENTS Marco Lala David Scotto mlala@rmfriedland.com dscotto@rmfriedland.com RMFriedland

Exclusively Listed by LLC FINANCIAL SUMMARY 2925 & 2931 Westchester Ave, Bronx, NY 10461 (Parcel #: 4164-5,1) Page 2 of 13 7.3% Pro Forma Cap Rate 1.6% Going in Cap Rate $303 /sq. ft.

Spaces Dimensions: irregular #N/A Multi-Story Retail Building, (2 or More), (K2) PARCEL SIZE 29,700 Retail Sqft #DIV/0! est. 12% common area loss ZONING 21,543 Square Feet R7-1, C2-2 Zone irregular 3.

2 Exclusively Listed by LLC FINANCIAL SUMMARY 2925 & 2931 Westchester Ave, Bronx, NY (Parcel #: ,1) Page 2 of % Pro Forma Cap Rate 1.6% Going in Cap Rate $303 /sq. ft. Asking $9,000,000 9 Total Units $657k Pro Forma NOI $142k Going In NOI 29,700 Square Feet BUILDING DETAILS BUILDING SF (Estimate) 9 Total Units 29,700 Gross Sqft No Residential Apts, 9 Commercial Spaces Dimensions: irregular #N/A Multi-Story Retail Building, (2 or More), (K2) PARCEL SIZE 29,700 Retail Sqft #DIV/0! est. 12% common area loss ZONING 21,543 Square Feet R7-1, C2-2 Zone irregular Max FAR 74, ,406 Buildable SF Mixed Use Zoning INCOME Pro Forma Current Gross Scheduled Income (GSI) 942, ,000 less 5% Vacancy Allowance (47,131) (19,200) Gross Operating Income (GOI) 895, ,800 less expenses (238,709) (222,789) Net Operating Income 656, ,011 Cap Rate 7.30% 1.58% Low Average ESTIMATED ANNUALIZED EXPENSES Pro Forma Current $13 /retail SF/YR RE Tax* (169,248) (169,248) Water & Sewer - - Insurance (22,275) (22,275) FINANCING SCENARIO Rear View Year 1 Fuel Tenants Have Individual Systems - - *illustration only, without appreciation Utilities (7,425) (7,425) Interest Rate 4.50% Repairs and Maint. (7,425) (7,425) Amortization 30 years Payroll % Down Payment $6,750,000 Legal, Reserves & Misc. (5,472) (5,472) 25.0% Loan Amount $2,250, % (26,864) (10,944) Annual Debt Service ($136,805) Total Expenses (238,709) (222,789) DSCR 1.04 Cash Flow $5,206 Principal Recapture $36,298 UNIT MIX MONTHLY INCOME TYPE COUNT /ROOM /UNIT MIN MAX TOTAL CASH ON CASH RETURN Year 1 Typical Return 0.08% retail/office 9 3,556 1,450 8,500 32,000 Self Mgmt. & 100% Occupied 0.52% TOTAL RETURN Year 1 Typical Return 0.61% Self Mgmt. & 100% Occupied 1.06% Total Units 9 Total Monthly Income: 32,000 CONTACT EXCLUSIVE AGENTS Marco Lala David Scotto mlala@rmfriedland.com dscotto@rmfriedland.com RMFriedland

3 Rent Roll Unit Name Package nd Tenant, Type & Unit Count Madison Security Office - 2nd Floor 1 unit Pro Forma $ 11, Rentable Sq. Ft. 6,800 SF 20 /sf/yr Collected C Projected P $6, C Rentable Sq. Ft. 6,800 SF 11 /sf/yr Expiration, Notes (Debits, Credits) month-to-month Index Pilgrim Pharmacy Retail - Ground 1 unit $ 9, ,200 SF 50 /sf/yr $5, C 2,200 SF 27 /sf/yr Exp: Oct-2024 $5,200 on 11/1/2020 $5,400 on 11/1/ Pruzzo's Superette Retail - Ground 1 unit $ 15, ,000 SF 45 /sf/yr $7, C $ P 4,000 SF 23 /sf/yr Exp: Mar-2027 Current Rent = $7,500 $7,700 begins 4/1/2019 Then $250 Annual Increases Lehigh Liquors* Retail - Ground 1 unit $ 2, SF 48 /sf/yr $1, C 600 SF 30 /sf/yr Exp: Apr-2021 $1,550 on 5/1/2019 $1,650 on 5/1/ Buhre Link (Boost) Retail - Ground 1 unit $ 2, SF 48 /sf/yr $1, C 500 SF 35 /sf/yr Exp: Aug Barber Shop Retail - Ground 1 unit $ 1, SF 48 /sf/yr $1, C 450 SF 44 /sf/yr month-to-month (A,B,C) Tri-State Cabinet Retail & Office 3 units $ 36, ,050 SF 29 /sf/yr $8, C $ P 15,050 SF 7 /sf/yr Exp: Mar Year Option Current Rent = $8,000 $8,500 Begins 4/1/2019 $500 Increase on 4/1/22 $500 Increase on 4/1/24 2 Sub Leases More Than A Tutor Yoga/Zumba 8 Summary 9 Units $ 78, ,600 SF 32 /sf/yr $31, C $ P 29,600 SF $13/yr Gross Potential Income 32,000 /mo 384,000 /yr 2.2% Tri-State Proforma Pro Forma Est. Sq. Ft A 2925 B Prime Retail Pro Forma Rear Space Pro Forma $ 15, $ 16, ,000 SF 45 /sf/yr 7,850 SF 25 /sf/yr Blended Ground Floor $32/SF/YR Westchester Ave Retail Tutor & Tri-State Former Theater 24 ft Ceilings C 2nd Floor Pro Forma $ 5, ,200 SF 20 /sf/yr Zumba & Tri-State 13 Page 3 of 13

4 Neighborhood Businesses Page 4 of 13

5 Neighborhood Businesses Page 5 of 13

6 Approximate Ground Floor Layout Pharmacy Tri State 24' Ceiling Superette *Note: All Measurements Are Approximate Page 6 of 13

7 Approximate Second Floor Layout Madison Security No Second Floor Liquor Store Not Included Tri State Shop & Sublease to Yoga/Zumba *Note: All Measurements Are Approximate Page 7 of 13

8 Pictures and Maps 6 Page 8 of 13

9 Pictures and Maps Page 9 of 13

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FOR SALE SEVEN 421A TAX ABATED BRONX BUILDINGS BUILT CASTLE HILL & NORWOOD LOCATIONS

Exclusively Listed by RM Friedland LLC FOR SALE SEVEN 421A TAX ABATED BRONX BUILDINGS 2002-2007 BUILT CASTLE HILL & NORWOOD LOCATIONS Page 1 of 18 top left: 2414-2420 Westchester Avenue & top right 3331-3335