1647 8 th Avenue, Brooklyn, NY 11215 Park Slope Vacant Residential Building 303 EAST 56 TH STREET NEW YORK, NY 10022 Asking Price: $2,995,000 Exclusive Listing By Shay Zach Senior Associate Broker shay@epic-cr.com (646) 278-4621 1
Property Description 1647 8 th Avenue Brooklyn, NY 11215 A vacant 3-story 6-family residential building. There is a 1BR unit on the first floor; the rest are 2BR units. The property is located two blocks from the 15 th St Prospect Park [F, G] train station. Lot Dimensions 20 X 97.87 Lot SF 1,957 SF Building Dimensions 20 X 82 Building SF 4,920 SF Max. FAR 1.35 (2.51 As Built) Zoning R5B Block/Lot 1113/5 Assessment $86,008 Taxes (17/18) $11,088 Building Class C2 Property Company Description Overview 2
Projected Income Gross Residential Income Proj. $224,400 Effective Gross Income $224,400 Projected Expenses Property Taxes (17/18) $11,088 Water and Sewer $4,800 Insurance $3,000 Heat $7,872 Utilities $1,230 Repairs & Maintenance $4,300 Total Expenses $32,290 Projected Net Operating Income $192,100 PROJECTED RENT ROLL Units Rooms Status Lease End Rent/Month Rent/Year 1 3 FM Vac_Proj. $2,700 $32,400 Financial Overview 2 4 FM Vac_Proj. $3,200 $38,400 3 4 FM Vac_Proj. $3,200 $38,400 4 4 FM Vac_Proj. $3,200 $38,400 5 4 FM Vac_Proj. $3,200 $38,400 6 4 FM Vac_Proj. $3,200 $38,400 Total 23 $18,700 $224,400 3
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Park Slope features historic buildings, top-rated restaurants, bars, and shops, as well as proximity to Prospect Park, the Brooklyn Academy of Music, the Brooklyn Botanic Garden, the Brooklyn Museum, the Brooklyn Conservatory of Music, and the Central Library as well as the Park Slope branch of the Brooklyn Public Library system. Park Slope is considered one of New York City's most desirable neighborhoods. In 2010, it was ranked number 1 in New York by New York Magazine, citing its quality public schools, dining, nightlife, shopping, access to public transit, green space, safety, and creative capital, among other aspects. It was named one of the "Greatest Neighborhoods in America" by the American Planning Association in 2007, "for its architectural and historical features and its diverse mix of residents and businesses, all of which are supported and preserved by its active and involved citizenry. In December 2006, Natural Home magazine named Park Slope one of America's ten best neighborhoods based on criteria including parks, green spaces and neighborhood gathering spaces; farmers' markets and community gardens; public transportation and locally owned businesses; and environmental and social policy. Park Slope is part of Brooklyn Community Board 6. Company Neighborhood Overview 7
EPIC Commercial Realty prides itself on providing quality and excellence to all our clients, specializing in investment sales in the bustling New York metropolitan area. We provide the highest level of professionalism, comprehensive and innovative real estate solutions to investors, property owners, and corporations to ensure optimum, fast, and smooth transactions. Based in Soho, NY our clients include storefront owners, retail chains, institutional landlords and real estate developers. EPIC is dedicated to continuously developing dynamic relationships resulting in increased capital beyond the expectation of our clients. Through such principles as integrity and hard work, we strive to develop into an esteemed commercial investment resource for property owners, investors, and corporations worldwide. The measure of our successes is determined by the quality of business relationships we forge. A multi-tier approach allows every aspect of our service to manage transactions for each client with specialized attention to maintaining our focus on timing and the market place. Collectively, EPIC professionals bring nearly 70 years of commercial real estate experience to your portfolio. Not surprisingly, such teamwork produces results beyond expectations as we consistently deliver full consultation services based on detailed research and evaluation. Our talented and accomplished professionals perform well beyond the industry standard for commercial real estate firms, producing with distinction and providing expert brokerage services. EPIC continues to expand and share it s expertise of commercial real estate investments with valued customers throughout the Greater New York Metropolitan Area. Company Overview Overview Shay Zach Senior Associate Broker 8
Epic Commercial Realty 580 Broadway, Suite 1107 New York, NY 10012 Tel: (212) 226-9000 Shay Zach Senior Associate Broker (646) 278-4621 shay@epic-cr.com 9