EMH Commercial Realty Exclusive Listing 177 Sheffield Ave, Brooklyn, NY 11207 SE Corner of Glenmore Ave & Pitkin Ave Exclusive Agent: Heshie Goldfein & Sadya Liberow 1
Investment Highlights: Asking Price: $1,600,000 Neighborhood: East New York Property Type: Mixed-Use Residential Units: 5 Commercial Units: 2 Metrics: Gross Income: $136,644 Cap Rate: 6.79% Price/Built SF: $350 Property Company Highlights Overview Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. 2
Description: Fully occupied, recently renovated, mixed-use building with five free market residential units and two commercial units. There is an assumable mortgage of $1,050,000 at 4.5% ADDRESS: 177 SHEFFIELD AVE City State Zip Brooklyn, NY 11207 Cross Streets Glenmore Ave & Pitkin Ave Neighborhood East New York Block & Lot 03720-0018 Lot Dimensions 25 ft x 100 ft Lot Area SF 2,500 Building Dimensions 25 ft x 58 ft Building SF 4,581 Residential Units 5 Commercial Units 2 Total Units 7 Zoning M1-1 F.A.R. 1.00 Additional BSF Available 0 Total Buildable SF 4,581 Tax assessor's market value $247,000 Taxes 2018 $7,330 Tax Class 2A Property Company Description Overview 3
Revenue Investment Analysis Gross Monthly Income $11,387.00 Gross Annual Income $136,644.00 Average Rent per Unit $1,626.71 Average Rent per Room $517.59 Estimated Operating Expenses Real Estate Taxes $7,330.00 Insurance $3,700.00 Water/Sewer $3,400.00 Management $4,099.32 Heat $4,500.00 Utilities $1,145.25 Repairs & Maintenance $3,850.00 Total Operating Expenses $28,024.57 Financial Analysis Net Operating Income: $108,619.43 Asking Price $1,600,000.00 Capitalization Rate 6.79% GRM 11.71 Price per Unit $228,571.43 Investment Analysis 4
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East New York is an up-and-coming area of single-family homes and a range of low-rise to hi-rise multifamily buildings that is slowly following suit with its neighbors, Bushwick and Bedford-Stuyvesant. While it s once tarnished reputation is beginning to clear up, developers have been eyeing the area and pursuing the affordable opportunities the neighborhood presents. This neighborhood offers convenience of mass transit options and commuter buses that connect the neighborhood to both Queens and Manhattan. Neighborhood Company Highlights Overview 6
EMH Commercial Realty was formed with the sole focus of closing commercial transactions in the smoothest and most efficient way possible. The primary focus of our team will be on the Brooklyn NY markets - a marketplace that our brokers have had much historical success. We utilize the latest in cutting edge technology and foster an open team environment to bring much needed market insight that is critical to each deal that comes across our desks. Our experienced team of motivated brokers work diligently with our base of sellers and investors to enhance and facilitate each transaction. That said, EMH is uniquely poised to be your subject matter expert for all your commercial real estate needs. Company Overview Overview 7
109 South 5 th Street Suite 109 Brooklyn NY 11249 Heshie Goldfein Cell: (212) 335-0708 Desk: (718) 964-9050 Email: heshie@emhcr.com Sadya Liberow Cell: (347) 762-4055 Desk: (718) 964-9004 Email: sadya@emhcr.com 8Exclusive Agent Contact Company Overview