548 52nd Street O F F E R I N G M E M O R A N D U M

Transcription

1 548 52nd Street B r o o k l y n N Y O F F E R I N G M E M O R A N D U M

2 M A R K E T I N G T E A M 260 Madison Avenue, 5th Floor New York, NY Fax: (646) pvonderahe@mmreis.com 16 Court Street, Suite 2A Brooklyn, NY Cell: (212) sriney@ipausa.com 16 Court Street, Suite 2A Brooklyn, NY Cell: (845) mark.zarrella@mmreis.com 16 Court Street Floor 2A Brooklyn, NY Cell: (631) dylan.boesch@mmreis.com Andrew Dansker Financing Inquiries 260 Madison Avenue, 5th Floor New York, NY Fax: (212) adansker@marcusmillichap.com n d S t r e e t

3 n d S t r e e t _ F I N A N C I A L O V E R V I E W OFFERING PRICE $4,900,000 0% 9% RATIO OF FAIR MARKET UNITS PROPERTY TAXES RATIO $/SF $436 INCOME CURRENT PRO FORMA $/UNIT $213,043 Gross Potential Residential Rent $271,308 $271,308 TOTAL SF 11,240 Gross Potential Commercial Rent $0 $0 TOTAL UNITS 23 Gross Income $271,308 $271,308 Vacancy/Collection Loss ($8,139) ($8,139) CURRENT METRICS Other Income $0 $0 CAP RATE 3.6% Effective Gross Income $263,169 $263,169 GRM 18.1 Average Residential Rent/Month/Unit $983 $983 PRO FORMA METRICS PRO FORMA CAP RATE 3.6% EXPENSES $983 AVERAGE MONTHLY GRM 18.1 Property Taxes $23,873 $23,873 RENT #NUM! #NUM! Fuel $9,136 $9,136 Insurance $9,200 $9,200 Water and Sewer $18,400 $18,400 EXPENSE RATIO UPSIDE ANALYSIS Repairs and Maintenance $9,200 $9,200 32% $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 Current Avg RS Units Market Rents Current Avg FM Rents Common Electric (PPSF) $1,686 $1,686 Super Salary $2,400 $2,400 Management Fee $10,527 $10,527 Total Expenses $84,422 $84,422 Net Operating Income $178,747 $178,747 LEASE STATUS ANALYSIS UNIT BREAKDOWN % OF TOTAL TOTAL AVG. RENT Total Units $983 Total RS Units 100% 23 $983 Total RC Units 0% 0 $0 Total FM Units 0% 0 $0 Total Commercial -- 0 $0 11,240 $436 GROSS TOTAL SF $/SF UNIT TYPE ANALYSIS TYPE % OF TOTAL TOTAL AVG. RENT Studio 83% 19 $977 1 Bedroom 17% 4 $1,012 2 Bedroom 0% 0 $0 3 Bedroom 0% 0 $0 4 Bedroom 0% 0 $0 5 Bedroom 0% 0 $0 6 Bedroom 0% 0 $0 SRO 0% 0 $0 Financing Inquiries: Andrew Dansker 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 Marcus & Millichap

4 n d S t r e e t _ R E N T R O L L RESIDENTIAL RENT UNIT# LEASE STATUS NOTES BEDROOMS ROOMS SF EXPIRATION ACTUAL PRO FORMA 1A RS Convertible Studio 2 Mar-17 $1,061 $1,061 3A RS 1 Bedroom 3 Apr-17 $975 $975 4A RS Convertible Studio 2 Feb-17 $1,028 $1,028 5A RS Studio 1 Apr-17 $940 $940 6A RS Convertible Studio 2 Apr-17 $1,077 $1,077 1B RS Convertible Studio 2 Jan-17 $1,046 $1,046 2B RS Vacant Studio 1 $1,250 $1,250 3B RS 1 Bedroom 3 Oct-16 $1,112 $1,112 4B RS Convertible Studio 2 Mar-17 $1,056 $1,056 5B RS Studio 1 Jul-16 $931 $931 6B RS Convertible Studio 2 Mar-17 $995 $995 1C RS Convertible Studio 2 Dec-16 $1,000 $1,000 2C RS Studio 1 Jul-17 $1,010 $1,010 3C RS 1 Bedroom 3 Jan-17 $916 $916 4C RS SCRIE - Convertible Studio 2 Jul-18 $1,077 $1,077 5C RS Studio 1 Jul-16 $1,046 $1,046 6C RS Convertible Studio 2 Apr-17 $572 $572 1D RS Convertible Studio 2 Sep-17 $985 $985 2D RS Studio 1 Dec-16 $838 $838 3D RS 1 Bedroom 3 Oct-16 $1,045 $1,045 4D RS SCRIE - Convertible Studio 2 Dec-17 $519 $519 5D RS Studio 1 Apr-17 $1,025 $1,025 6D RS Convertible Studio 2 Aug-17 $1,105 $1,105 MONTHLY RESIDENTIAL REVENUE $22,609 $22,609 ANNUAL RESIDENTIAL REVENUE $271,308 $271,308 ACTUAL PRO FORMA TOTAL ANNUAL REVENUE $271,308 $271,308 There is currently 1 vacant unit in the building. The super lives off site. Financing Inquiries: Andrew Dansker 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 Marcus & Millichap

5 n d S t r e e t _ P R O P E R T Y D E S C R I P T I O N CITY: STATE: BLOCK & LOT: Brooklyni NYi 808 / 25i LOT DIMENSIONS: 40 x i LOT SF: 4,007i BUILDING DIMENSIONS: 40 x 84i BUILDING SF: 11,240i ZONING: R6Bi MAX FAR: 2.00i AVAILABLE AIR RIGHTS: LANDMARK DISTRICT: HISTORIC DISTRICT: ANNUAL TAX BILL: 0i Nonei Nonei $23,873i TAX CLASS: 2i Financing Inquiries: Andrew Dansker

6 P R O P E R T Y D E S C R I P T I O N P R O P E R T Y P H O T O S

7