1441 Bushwick Avenue - Agorafy
1441 Bushwick Avenue Bushwick, Brooklyn, NY
FULLY RENOVATED MULTIFAMILY BUILDING FOR SALE Building Information Northeast side of Bushwick Avenue between Chauncey and Piling Streets.
Location
Block / Lot 3451 / 7 Zoning R6 Max FAR 2.20 Lot Dimensions 25.3' x 90' Lot SF 2,277 Building Dimensions 25' x 64' Building SF 5,400 Incl. Duplex Stories 3 Units 6 Taxes ('15/'16) $7,904 Assessment ('15/'16) $61,483 Effect Gross Income Less Projected Expenses Exp. Ratio 17.24% Projected Net Operating Income
(Approx.) (Approx.) (Approx.) (Approx.)
$173,436 $29,901 $143,535
Building Features The subject property is a 25 foot wide, 3-story multifamily building located on the east side of Bushwick Avenue between Chauncey Street and Piling Street in Bushwick, Brooklyn. The building currently contains 2 two-bedroom duplex apartments and 4 three-bedroom apartments. Public transportation is available within a block of the property at the Chauncey Street Station, offering access to Downtown Brooklyn and Manhattan within 15-20 minutes via the J Z trains. Take advantage of this opportunity to own an investment property in one of Brooklyn’s most rapidly growing neighborhoods.
J
L
Chauncey Street Station
Bushwick Avenue – Aberden Street Station
Asking Price
$2,800,000
A C L J Z Broadway Junction Station
For More Information, Please Contact:
Michael Amirkhanian Executive Director (718) 606-7073
DJ Johnston Associate Director (718) 307-6515
Robert Moore Associate Director (718) 606-7046
William Cheng Associate Director (718) 606-7037
[email protected]
[email protected]
[email protected]
[email protected]
Cushman & Wakefield 205 Montague Street, 3rd Floor Brooklyn, NY 11201 Bryan Kirk phone: +1 718 238 8999 Associate nyinvestmentsales.com
(718) 307-6516 [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.
1441 Bushwick Avenue Bushwick, Brooklyn, NY
For More Information, Please Contact:
Michael Amirkhanian Executive Director (718) 606-7073
DJ Johnston Associate Director (718) 307-6515
Robert Moore Associate Director (718) 606-7046
William Cheng Associate Director (718) 606-7037
[email protected]
[email protected]
[email protected]
[email protected]
Cushman & Wakefield 205 Montague Street, 3rd Floor Brooklyn, NY 11201 Bryan Kirk phone: +1 718 238 8999 Associate nyinvestmentsales.com
(718) 307-6516 [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.
1441 Bushwick Avenue Bushwick, Brooklyn, NY Current / Projected Revenue Unit
Type
Status
Size (SF) (2)
Rent / Mo.
Rent / SF
Annual Rent
1L
2 BR / 1.5 BA Duplex
FM - Leased
1,056
$2,650
$30
$31,800
1R
2 BR / 1.5 BA Duplex
FM - Leased
1,056
$2,600
$30
$31,200
2L
3 BR / 1 BA
FM - Deposit Received
704
$2,300
$39
$27,600
2R
3 BR / 1 BA
FM - Leased
704
$2,400
$41
$28,800
3L (1)
3 BR / 1 BA
FM - Vacant
704
$2,500
$43
$30,000
3R (1)
3 BR / 1 BA
FM - Vacant
704
$2,450
$42
$29,400
4,928
$14,900
$36
$178,800
TOTAL VACANCY & CREDIT LOSS @ 3% EFFECTIVE GROSS INCOME
$447
$5,364
$14,453
$173,436
(1) Unit is vacant - rent is projected (2) Net Square Footage assuming a 12% for common loss
Projected Expenses
C&W Metrics
Real Estate Taxes ('15/'16)
DOF Tax Bill
$7,904
Insurance
$1.00 / GSF
$4,800
Water / Sewer
$0.75 / GSF
$3,600
Heating Fuel
Tenants Pay
--
Common Electric
$0.20 / GSF
$960
Repairs / Maintenance
$450 / UNIT
$2,700
Superintendent
$250 / MO.
$3,000
Management
4.0% of EGI
$6,937
Total
$29,901
Effective Gross Income
$173,436
Less Projected Expenses
Exp. Ratio
Projected Net Operating Income
17.24%
$29,901 $143,535
ASKING PRICE: $2,800,000 For More Information, Please Contact:
Michael Amirkhanian Executive Director (718) 606-7073
DJ Johnston Associate Director (718) 307-6515
Robert Moore Associate Director (718) 606-7046
William Cheng Associate Director (718) 606-7037
[email protected]
[email protected]
[email protected]
[email protected]
Cushman & Wakefield 205 Montague Street, 3rd Floor Brooklyn, NY 11201 Bryan Kirk phone: +1 718 238 8999 Associate nyinvestmentsales.com
(718) 307-6516 [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.
FULLY RENOVATED MULTIFAMILY BUILDING FOR SALE Building Information Northeast side of Bushwick Avenue between Chauncey and Piling Streets.
Location
Block / Lot 3451 / 7 Zoning R6 Max FAR 2.20 Lot Dimensions 25.3' x 90' Lot SF 2,277 Building Dimensions 25' x 64' Building SF 5,400 Incl. Duplex Stories 3 Units 6 Taxes ('15/'16) $7,904 Assessment ('15/'16) $61,483 Effect Gross Income Less Projected Expenses Exp. Ratio 17.24% Projected Net Operating Income
(Approx.) (Approx.) (Approx.) (Approx.)
$173,436 $29,901 $143,535
Building Features The subject property is a 25 foot wide, 3-story multifamily building located on the east side of Bushwick Avenue between Chauncey Street and Piling Street in Bushwick, Brooklyn. The building currently contains 2 two-bedroom duplex apartments and 4 three-bedroom apartments. Public transportation is available within a block of the property at the Chauncey Street Station, offering access to Downtown Brooklyn and Manhattan within 15-20 minutes via the J Z trains. Take advantage of this opportunity to own an investment property in one of Brooklyn’s most rapidly growing neighborhoods.
J
L
Chauncey Street Station
Bushwick Avenue – Aberden Street Station
Asking Price
$2,800,000
A C L J Z Broadway Junction Station
For More Information, Please Contact:
Michael Amirkhanian Executive Director (718) 606-7073
DJ Johnston Associate Director (718) 307-6515
Robert Moore Associate Director (718) 606-7046
William Cheng Associate Director (718) 606-7037
[email protected]
[email protected]
[email protected]
[email protected]
Cushman & Wakefield 205 Montague Street, 3rd Floor Brooklyn, NY 11201 Bryan Kirk phone: +1 718 238 8999 Associate nyinvestmentsales.com
(718) 307-6516 [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.
1441 Bushwick Avenue Bushwick, Brooklyn, NY
For More Information, Please Contact:
Michael Amirkhanian Executive Director (718) 606-7073
DJ Johnston Associate Director (718) 307-6515
Robert Moore Associate Director (718) 606-7046
William Cheng Associate Director (718) 606-7037
[email protected]
[email protected]
[email protected]
[email protected]
Cushman & Wakefield 205 Montague Street, 3rd Floor Brooklyn, NY 11201 Bryan Kirk phone: +1 718 238 8999 Associate nyinvestmentsales.com
(718) 307-6516 [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.
1441 Bushwick Avenue Bushwick, Brooklyn, NY Current / Projected Revenue Unit
Type
Status
Size (SF) (2)
Rent / Mo.
Rent / SF
Annual Rent
1L
2 BR / 1.5 BA Duplex
FM - Leased
1,056
$2,650
$30
$31,800
1R
2 BR / 1.5 BA Duplex
FM - Leased
1,056
$2,600
$30
$31,200
2L
3 BR / 1 BA
FM - Deposit Received
704
$2,300
$39
$27,600
2R
3 BR / 1 BA
FM - Leased
704
$2,400
$41
$28,800
3L (1)
3 BR / 1 BA
FM - Vacant
704
$2,500
$43
$30,000
3R (1)
3 BR / 1 BA
FM - Vacant
704
$2,450
$42
$29,400
4,928
$14,900
$36
$178,800
TOTAL VACANCY & CREDIT LOSS @ 3% EFFECTIVE GROSS INCOME
$447
$5,364
$14,453
$173,436
(1) Unit is vacant - rent is projected (2) Net Square Footage assuming a 12% for common loss
Projected Expenses
C&W Metrics
Real Estate Taxes ('15/'16)
DOF Tax Bill
$7,904
Insurance
$1.00 / GSF
$4,800
Water / Sewer
$0.75 / GSF
$3,600
Heating Fuel
Tenants Pay
--
Common Electric
$0.20 / GSF
$960
Repairs / Maintenance
$450 / UNIT
$2,700
Superintendent
$250 / MO.
$3,000
Management
4.0% of EGI
$6,937
Total
$29,901
Effective Gross Income
$173,436
Less Projected Expenses
Exp. Ratio
Projected Net Operating Income
17.24%
$29,901 $143,535
ASKING PRICE: $2,800,000 For More Information, Please Contact:
Michael Amirkhanian Executive Director (718) 606-7073
DJ Johnston Associate Director (718) 307-6515
Robert Moore Associate Director (718) 606-7046
William Cheng Associate Director (718) 606-7037
[email protected]
[email protected]
[email protected]
[email protected]
Cushman & Wakefield 205 Montague Street, 3rd Floor Brooklyn, NY 11201 Bryan Kirk phone: +1 718 238 8999 Associate nyinvestmentsales.com
(718) 307-6516 [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.
