pvonderahe@mmreis.com jkoicim@mmreis.com TOTAL UNITS TOTAL SQUARE FEET david.lloyd@mmreis.com daniel.handweiler@mmreis.com PRICE /SF PROJECTED TAXES Tel: (212) 430-5168 adansker@marcusmillichap.com CAP RATE GRM FRONTAGE TOTAL AIR RIGHTS
OFFERING PRICE $6,950,000 67% 24% $2,500 PRO FORMA AVERAGE MONTHLY RENT $/SF $1,158 INCOME CURRENT PRO FORMA $/UNIT $992,857 Gross Potential Residential Rent $164,400 $180,000 TOTAL SF 6,000 Gross Potential Commercial Rent $180,000 $180,000 TOTAL UNITS 7 Gross Income $344,400 $360,000 Vacancy/Collection Loss ($3,288) ($3,600) CURRENT METRICS Other Income $0 $0 CAP RATE 3.0% Effective Gross Income $341,112 $356,400 GRM 20.2 Average Residential Rent/Month/Unit $2,283 $2,500 PRO FORMA METRICS CAP RATE 3.2% EXPENSES GRM 19.3 Property Taxes Tax Class: 2B $83,308 $83,308 Fuel $7,800 $7,800 Insurance $11,689 $11,689 Water and Sewer $6,000 $6,000 EXPENSE RATIO UPSIDE ANALYSIS Repairs and Maintenance $5,000 $5,000 Common Electric (PPSF) $3,500 $1,500 $1,500 $3,000 Super Salary $5,000 $5,000 $2,500 Management Fee $13,644 $14,256 Elevator Contract N/A N/A Legal & Miscellaneous N/A N/A SCRIE/DRIE N/A N/A Other N/A N/A Total Expenses $133,941 $134,553 Net Operating Income $207,171 $221,847 Current Avg RS Units Market Rents Current Avg FM Rents LEASE STATUS ANALYSIS UNIT BREAKDOWN % OF TOTAL TOTAL AVG. RENT PROPOSED DEBT Total Units -- 6 $4,783 Debt Service ($168,263) Total RS Units 33% 2 $1,350 Debt Coverage Ratio 1.23 Total RC Units 0% 0 $0 Net Debt Cash Flow After Debt Service $53,584 Total FM Units 67% 4 $2,750 Loan Amount $3,000,000 Total Commercial -- 1 $15,000 Interest Rate 3.75% Amortization 30 UNIT TYPE ANALYSIS GROSS TOTAL SF RATIO OF FAIR MARKET UNITS PROPERTY TAXES RATIO 39% $2,000 $1,500 $1,000 6,000 $1,158 $500 $0 $/SF TYPE % OF TOTAL TOTAL AVG. RENT Studio 0% 0 $0 1 Bedroom 0% 0 $0 2 Bedroom 100% 6 $2,283 3 Bedroom 0% 0 $0 4 Bedroom 0% 0 $0 5 Bedroom 0% 0 $0 6 Bedroom 0% 0 $0 SRO 0% 0 $0 Peter Von Der Ahe This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2018 Marcus & Millichap
COMMERCIAL RENT UNIT TENANT NAME NOTES LEASE START ACTUAL PRO FORMA Store Glaser's Bake Shop Delivered Vacant - Projected Rent $15,000 $15,000 MONTHLY COMMERCIAL REVENUE $15,000 $15,000 RESIDENTIAL RENT UNIT# LEASE STATUS NOTES BEDROOMS ROOMS ACTUAL PRO FORMA 2S FM Delivered Vacant - Projected Rent 2 Bedroom 4 $3,000 $3,000 2N FM Delivered Vacant - Projected Rent 2 Bedroom 4 $3,000 $3,000 3S RS Legal Rent = $1,648.58 2 Bedroom 4 $1,500 $1,600 3N RS Legal Rent = $1,439.40 2 Bedroom 4 $1,200 $1,200 4S FM 2 Bedroom 4 $2,000 $3,200 4N FM Delivered Vacant - Projected Rent 2 Bedroom 4 $3,000 $3,000 MONTHLY RESIDENTIAL REVENUE 12 24 $13,700 $15,000 ANNUAL RESIDENTIAL REVENUE $164,400 $180,000 ANNUAL COMMERCIAL REVENUE $180,000 $180,000 ACTUAL PRO FORMA TOTAL ANNUAL REVENUE $344,400 $360,000 There are currently 4 vacant units in the building. The super lives off site. Peter Von Der Ahe This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2018 Marcus & Millichap
CITY: STATE: BLOCK & LOT: New Yorki NYi 1567 / 2i LOT DIMENSIONS: 25 ft X 80 fti LOT SF: 2,000i BUILDING DIMENSIONS: 25 ft X 58 fti BUILDING SF: 6,000i ZONING: R10i MAX FAR: 10.00i AVAILABLE AIR RIGHTS: 14,000i LANDMARK DISTRICT: HISTORIC DISTRICT: ANNUAL TAX BILL: Nonei Nonei $83,308 TAX CLASS: 2Bi Peter Von Der Ahe
Peter Von Der Ahe
Peter Von Der Ahe