1075 Willoughby Avenue
1075 Willoughby Avenue Prime Bushwick, Brooklyn, NY
RENOVATED FREE MARKET BUILDING PROPERTY FEATURES
FOR SALE
Location
Northwest side of Willoughby Avenue between Wilson and Central Avenue.
Block / Lot
3196 / 42
Lot Size
20.1' x 100'
(Approx.)
Lot SF
2,010
(Approx.)
Building Size
20.1' x 60'
(Approx.)
Building SF
3,600
(Approx.)
Stories
3
Residential Units
3
Zoning
R6
Residential FAR
2.20
Available Air Rights
822
Assessment (17/18)
$40,176
Taxes (17/18)
$8,032
PROPERTY DESCRIPTION Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 1075 Willoughby Avenue, a walk-up multifamily building in the Bushwick neighborhood of Brooklyn. •
• • •
Gross Annual Income
$138,000
Expenses & Vacancy Loss:
$31,849
Net Operating Income
$106,151
Subject Property is a walk-up multifamily building with three residential units located on northwest side of Willoughby Avenue between Wilson and Central Avenue. Building is approximately 3,600 square feet through three stories. Located within four blocks to the M Central Avenue station, offering convenient access to Williamsburg and Manhattan within 20 minutes. Property benefits from recent renovation and close proximity to many of Bushwick’s already flourishing art galleries, night life, and dining experience.
ASKING PRICE
$1,950,000 (5.44% CAP) For More Information, Please Contact:
DJ Johnston, Director (718) 307-6515 [email protected]
William Cheng, Director (718) 606-7037 [email protected]
Bryan Kirk, Associate (718) 307-6516 [email protected]
Joshua Sabzevari, Associate (718) 307-6521 [email protected]
George Bukawyn, Associate (718) 606-7073 [email protected]
CUSHMAN & WAKEFIELD One Pierrepont Plaza, 9th Floor, Brooklyn, NY 11201 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
1075 Willoughby Avenue Prime Bushwick, Brooklyn, NY REVENUE Unit
Type
Lease Exp.
Size (SF)*
Rent
Rent/SF
Annual Rent
Apt. 1
4 BR
--
1,200
$3,500
$35
$42,000
Apt. 2
4 BR
--
1,200
$4,000
$40
$48,000
Apt. 3
3 BR
--
1,020
$4,000
$47
$48,000
3,420
$11,500
$40
$138,000
Total
Gross Annual Income
$138,000
Vacancy & Credit Loss @ 3%:
$4,140
Effective Gross Income
$133,860
REVENUE Real Estate Taxes (17/18) Water/Sewer
NYC DOF Taxes
$8,032
$1.00 / GSF
$3,600
Insurance
$400 / Unit
$133
Fuel
$1.25 / GSF
$4,500
Electric (Common Areas)
$0.15 / GSF
$540
Repairs & Maintenance
$450 / Unit
$150
*Super
$450 / Month
$5,400
Management
4.0% of EGI
$5,354
Total Expenses
$27,709
*Current expense
1075 Willoughby Avenue
L
Gross Annual Income Vacancy & Credit Loss @ 3%
$138,000 $4,140
Effective Gross Income
$133,860
Less Total Expenses
$27,709
Projected Net Operating Income
$106,151 1075 Willoughby Avenue
M M
ASKING PRICE
$1,950,000 (5.44% CAP) For More Information, Please Contact:
CUSHMAN & WAKEFIELD One Pierrepont Plaza, 9th Floor, Brooklyn, NY 11201 nyinvestmentsales.com
DJ Johnston, Director (718) 307-6515 [email protected]
William Cheng, Director (718) 606-7037 [email protected]
Bryan Kirk, Associate (718) 307-6516 [email protected]
Joshua Sabzevari, Associate (718) 307-6521 [email protected]
George Bukawyn, Associate (718) 606-7073 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
RENOVATED FREE MARKET BUILDING PROPERTY FEATURES
FOR SALE
Location
Northwest side of Willoughby Avenue between Wilson and Central Avenue.
Block / Lot
3196 / 42
Lot Size
20.1' x 100'
(Approx.)
Lot SF
2,010
(Approx.)
Building Size
20.1' x 60'
(Approx.)
Building SF
3,600
(Approx.)
Stories
3
Residential Units
3
Zoning
R6
Residential FAR
2.20
Available Air Rights
822
Assessment (17/18)
$40,176
Taxes (17/18)
$8,032
PROPERTY DESCRIPTION Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 1075 Willoughby Avenue, a walk-up multifamily building in the Bushwick neighborhood of Brooklyn. •
• • •
Gross Annual Income
$138,000
Expenses & Vacancy Loss:
$31,849
Net Operating Income
$106,151
Subject Property is a walk-up multifamily building with three residential units located on northwest side of Willoughby Avenue between Wilson and Central Avenue. Building is approximately 3,600 square feet through three stories. Located within four blocks to the M Central Avenue station, offering convenient access to Williamsburg and Manhattan within 20 minutes. Property benefits from recent renovation and close proximity to many of Bushwick’s already flourishing art galleries, night life, and dining experience.
ASKING PRICE
$1,950,000 (5.44% CAP) For More Information, Please Contact:
DJ Johnston, Director (718) 307-6515 [email protected]
William Cheng, Director (718) 606-7037 [email protected]
Bryan Kirk, Associate (718) 307-6516 [email protected]
Joshua Sabzevari, Associate (718) 307-6521 [email protected]
George Bukawyn, Associate (718) 606-7073 [email protected]
CUSHMAN & WAKEFIELD One Pierrepont Plaza, 9th Floor, Brooklyn, NY 11201 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
1075 Willoughby Avenue Prime Bushwick, Brooklyn, NY REVENUE Unit
Type
Lease Exp.
Size (SF)*
Rent
Rent/SF
Annual Rent
Apt. 1
4 BR
--
1,200
$3,500
$35
$42,000
Apt. 2
4 BR
--
1,200
$4,000
$40
$48,000
Apt. 3
3 BR
--
1,020
$4,000
$47
$48,000
3,420
$11,500
$40
$138,000
Total
Gross Annual Income
$138,000
Vacancy & Credit Loss @ 3%:
$4,140
Effective Gross Income
$133,860
REVENUE Real Estate Taxes (17/18) Water/Sewer
NYC DOF Taxes
$8,032
$1.00 / GSF
$3,600
Insurance
$400 / Unit
$133
Fuel
$1.25 / GSF
$4,500
Electric (Common Areas)
$0.15 / GSF
$540
Repairs & Maintenance
$450 / Unit
$150
*Super
$450 / Month
$5,400
Management
4.0% of EGI
$5,354
Total Expenses
$27,709
*Current expense
1075 Willoughby Avenue
L
Gross Annual Income Vacancy & Credit Loss @ 3%
$138,000 $4,140
Effective Gross Income
$133,860
Less Total Expenses
$27,709
Projected Net Operating Income
$106,151 1075 Willoughby Avenue
M M
ASKING PRICE
$1,950,000 (5.44% CAP) For More Information, Please Contact:
CUSHMAN & WAKEFIELD One Pierrepont Plaza, 9th Floor, Brooklyn, NY 11201 nyinvestmentsales.com
DJ Johnston, Director (718) 307-6515 [email protected]
William Cheng, Director (718) 606-7037 [email protected]
Bryan Kirk, Associate (718) 307-6516 [email protected]
Joshua Sabzevari, Associate (718) 307-6521 [email protected]
George Bukawyn, Associate (718) 606-7073 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
