1618 Benson Street
1618 Benson Street, Bronx, NY Mixed-Use Building For Sale 23 Units, 3 Retail, & Cell Tower FOR SALE
Asking Price: $4,500,000 Building Features Location:
On the north side of Benson Street between Maclay Avenue and St. Raymonds Avenue
Block / Lot:
4002 / 56
Lot Size:
50’ x 97.08’ (irregular)
Stories:
5
Zoning:
R6 / C2-4
Maximum FAR:
2.43
Lot Area:
4,500 SF (approx.)
Building Dimensions:
50’ x 97’ (irregular)
Assessment (16/17):
$155,520
Taxes (16/17):
$20,036
79.43’
97.16’
20,930 (approx.)
Maclay Avenue
Square Footage (Above Grade):
50.02’
Benson Street
Property Highlights
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 1618 Benson Street, a 5 story mixed-use apartment building located on Benson Street between Maclay Avenue and St. Raymond’s Avenue. The building contains 23 residential units and three commercial units, all of which are currently occupied. The building also features billboard space and cellular antennas which are operated by Sprint Corp. The property is located within a 5 minute walk to the Westchester Square – East Tremont Avenue subway station which is serviced by the 6 subway line along with multiple bus lines that service the area. The property is centrally located between major roadways that include East Tremont Avenue, Hutchinson River Parkway, Cross Bronx Expressway, and the Bronx River Parkway.
For More Information, Please Contact: David Simone Senior Director (212) 660 7725 [email protected]
Guthrie Garvin Executive Director (212) 696 2500 x7786 [email protected]
Karl Brumback Executive Director (212) 660 7731 [email protected]
Cushman & Wakefield 275 Madison Avenue, 3rd Fl New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Michael Fioravanti Senior Associate (212) 589 5119 [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.
1618 Benson Street Retail Revenue Unit
Lease Exp.
Monthly Income
Annual Income
Sprint Corp.
2/28/17
$3,084
$37,006
Shelley Roberts
10/31/18
$2,000
$24,000
Lenward Snead
7/31/18
$950
$11,400
Westchester Square Art Center
MTM
$850
$10,200
Luna Media Inc.
MTM
$400
$4,800
Rent Roll 1618 Benson Street Status
Legal Registered Rent
Adjusted Monthly Income
Unit
Lease Exp.
A
11/30/17
RS
2.0
$3,412
($2,512)
$900
$10,800
B
5/31/17
RS
3.0
$1,029
-
$1,029
$12,348
1A
2/28/17
RS
3.0
$1,749
($749)
$1,000
$12,000
1B
3/31/17
RS
3.0
$1,496
($516)
$980
$11,760
1C
7/31/16
RS
2.0
$3,098
($2,148)
$950
$11,400
1D
10/31/16
RS
4.0
$1,041
-
$1,041
$12,492
1E
10/31/17
RS
3.0
$950
-
$950
$11,400
2A
6/30/16
RS
3.0
$2,246
($1,346)
$900
$10,800
2B
1/31/18
RS
3.0
$3,047
($2,047)
$1,000
$12,000
2C
4/30/16
RS
2.0
$2,531
($1,631)
$900
$10,800
2D
9/30/16
RS
4.0
$2,139
($964)
$1,175
$14,100
2E
6/30/17
RS
3.0
$2,859
($1,859)
$1,000
$12,000
3A
3/31/17
RS
3.0
$1,402
($252)
$1,150
$13,800
3B
7/31/16
RS
3.0
$2,354
($1,354)
$1,000
$12,000
3C
12/31/16
RS
2.0
$1,888
($913)
$975
$11,700
3D
2/28/17
RS
4.0
$2,042
($842)
$1,200
$14,400
3E
11/30/16
RS
3.0
$1,870
($845)
$1,025
$12,300
4A
11/30/17
RS
3.0
$2,805
($1,805)
$1,000
$12,000
4B
5/31/16
RS
3.0
$2,562
($1,562)
$1,000
$12,000
4C
8/31/16
RS
2.0
$2,663
($1,763)
$900
$10,800
4D
7/31/16
RS
4.0
$2,288
($1,188)
$1,100
$13,200
4E
1/31/18
RS
3.0
$1,200
($250)
$950
$11,400
AA
1/31/17
RS
2.0
$315
-
$315
$3,780
Room Count
Discounted Rent
Annual Income
Cushman & Wakefield 275 Madison Avenue, 3rd Fl New York, NY 10016 David Simone Guthrie Garvin Karl Brumback Michael Fioravanti phone: +1 212 696 2500 Senior Director Executive Director Executive Director Senior Associate 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 isnyinvestmentsales.com submitted subject to errors, (212) 660 7725 696withdrawal 2500 x7786 (212) 660 7731 imposed by the property(212) 589 omissions, change of price, rental or other(212) conditions, without notice, and to any special listing conditions owner(s). As 5119 applicable, we make no representation as to the condition of the property (or properties) in question. [email protected] [email protected] [email protected] [email protected]
For More Information, Please Contact:
1618 Benson Street Revenue Projected Unless Noted Gross Annual Income:
$356,686
Less Vacancy and Credit Loss:
3%
Effective Gross Income:
($10,701) $345,985
2015 ACTUAL OPERATING EXPENSES Real Estate Taxes (16/17):
Actual
$20,036
Water & Sewer:
$945 / Unit
$24,570
Insurance:
$500 / Unit
$13,000
$1,000 / Unit
$26,000
Electric (Common areas):
$0.25 / SF
$5,233
Repairs & Maintenance:
$500 / Unit
$11,700
Fuel:
Super:
$260 / Month
$3,120
Professional:
@ 1% EGI
$3,460
Management:
@ 4% EGI
$13,839
Total:
$120,957
Effective Gross Income:
$345,985
Less Expenses:
$120,957
Net Operating Income:
$225,028
1618 Benson Street
B D
6
Cushman & Wakefield 275 Madison Avenue, 3rd Fl New York, NY 10016 David Simone Guthrie Garvin Karl Brumback Michael Fioravanti phone: +1 212 696 2500 Senior Director Executive Director Executive Director Senior Associate 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 isnyinvestmentsales.com submitted subject to errors, (212) 660 7725 696withdrawal 2500 x7786 (212) 660 7731 imposed by the property(212) 589 omissions, change of price, rental or other(212) conditions, without notice, and to any special listing conditions owner(s). As 5119 applicable, we make no representation as to the condition of the property (or properties) in question. [email protected] [email protected] [email protected] [email protected]
For More Information, Please Contact:
Asking Price: $4,500,000 Building Features Location:
On the north side of Benson Street between Maclay Avenue and St. Raymonds Avenue
Block / Lot:
4002 / 56
Lot Size:
50’ x 97.08’ (irregular)
Stories:
5
Zoning:
R6 / C2-4
Maximum FAR:
2.43
Lot Area:
4,500 SF (approx.)
Building Dimensions:
50’ x 97’ (irregular)
Assessment (16/17):
$155,520
Taxes (16/17):
$20,036
79.43’
97.16’
20,930 (approx.)
Maclay Avenue
Square Footage (Above Grade):
50.02’
Benson Street
Property Highlights
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 1618 Benson Street, a 5 story mixed-use apartment building located on Benson Street between Maclay Avenue and St. Raymond’s Avenue. The building contains 23 residential units and three commercial units, all of which are currently occupied. The building also features billboard space and cellular antennas which are operated by Sprint Corp. The property is located within a 5 minute walk to the Westchester Square – East Tremont Avenue subway station which is serviced by the 6 subway line along with multiple bus lines that service the area. The property is centrally located between major roadways that include East Tremont Avenue, Hutchinson River Parkway, Cross Bronx Expressway, and the Bronx River Parkway.
For More Information, Please Contact: David Simone Senior Director (212) 660 7725 [email protected]
Guthrie Garvin Executive Director (212) 696 2500 x7786 [email protected]
Karl Brumback Executive Director (212) 660 7731 [email protected]
Cushman & Wakefield 275 Madison Avenue, 3rd Fl New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Michael Fioravanti Senior Associate (212) 589 5119 [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.
1618 Benson Street Retail Revenue Unit
Lease Exp.
Monthly Income
Annual Income
Sprint Corp.
2/28/17
$3,084
$37,006
Shelley Roberts
10/31/18
$2,000
$24,000
Lenward Snead
7/31/18
$950
$11,400
Westchester Square Art Center
MTM
$850
$10,200
Luna Media Inc.
MTM
$400
$4,800
Rent Roll 1618 Benson Street Status
Legal Registered Rent
Adjusted Monthly Income
Unit
Lease Exp.
A
11/30/17
RS
2.0
$3,412
($2,512)
$900
$10,800
B
5/31/17
RS
3.0
$1,029
-
$1,029
$12,348
1A
2/28/17
RS
3.0
$1,749
($749)
$1,000
$12,000
1B
3/31/17
RS
3.0
$1,496
($516)
$980
$11,760
1C
7/31/16
RS
2.0
$3,098
($2,148)
$950
$11,400
1D
10/31/16
RS
4.0
$1,041
-
$1,041
$12,492
1E
10/31/17
RS
3.0
$950
-
$950
$11,400
2A
6/30/16
RS
3.0
$2,246
($1,346)
$900
$10,800
2B
1/31/18
RS
3.0
$3,047
($2,047)
$1,000
$12,000
2C
4/30/16
RS
2.0
$2,531
($1,631)
$900
$10,800
2D
9/30/16
RS
4.0
$2,139
($964)
$1,175
$14,100
2E
6/30/17
RS
3.0
$2,859
($1,859)
$1,000
$12,000
3A
3/31/17
RS
3.0
$1,402
($252)
$1,150
$13,800
3B
7/31/16
RS
3.0
$2,354
($1,354)
$1,000
$12,000
3C
12/31/16
RS
2.0
$1,888
($913)
$975
$11,700
3D
2/28/17
RS
4.0
$2,042
($842)
$1,200
$14,400
3E
11/30/16
RS
3.0
$1,870
($845)
$1,025
$12,300
4A
11/30/17
RS
3.0
$2,805
($1,805)
$1,000
$12,000
4B
5/31/16
RS
3.0
$2,562
($1,562)
$1,000
$12,000
4C
8/31/16
RS
2.0
$2,663
($1,763)
$900
$10,800
4D
7/31/16
RS
4.0
$2,288
($1,188)
$1,100
$13,200
4E
1/31/18
RS
3.0
$1,200
($250)
$950
$11,400
AA
1/31/17
RS
2.0
$315
-
$315
$3,780
Room Count
Discounted Rent
Annual Income
Cushman & Wakefield 275 Madison Avenue, 3rd Fl New York, NY 10016 David Simone Guthrie Garvin Karl Brumback Michael Fioravanti phone: +1 212 696 2500 Senior Director Executive Director Executive Director Senior Associate 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 isnyinvestmentsales.com submitted subject to errors, (212) 660 7725 696withdrawal 2500 x7786 (212) 660 7731 imposed by the property(212) 589 omissions, change of price, rental or other(212) conditions, without notice, and to any special listing conditions owner(s). As 5119 applicable, we make no representation as to the condition of the property (or properties) in question. [email protected] [email protected] [email protected] [email protected]
For More Information, Please Contact:
1618 Benson Street Revenue Projected Unless Noted Gross Annual Income:
$356,686
Less Vacancy and Credit Loss:
3%
Effective Gross Income:
($10,701) $345,985
2015 ACTUAL OPERATING EXPENSES Real Estate Taxes (16/17):
Actual
$20,036
Water & Sewer:
$945 / Unit
$24,570
Insurance:
$500 / Unit
$13,000
$1,000 / Unit
$26,000
Electric (Common areas):
$0.25 / SF
$5,233
Repairs & Maintenance:
$500 / Unit
$11,700
Fuel:
Super:
$260 / Month
$3,120
Professional:
@ 1% EGI
$3,460
Management:
@ 4% EGI
$13,839
Total:
$120,957
Effective Gross Income:
$345,985
Less Expenses:
$120,957
Net Operating Income:
$225,028
1618 Benson Street
B D
6
Cushman & Wakefield 275 Madison Avenue, 3rd Fl New York, NY 10016 David Simone Guthrie Garvin Karl Brumback Michael Fioravanti phone: +1 212 696 2500 Senior Director Executive Director Executive Director Senior Associate 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 isnyinvestmentsales.com submitted subject to errors, (212) 660 7725 696withdrawal 2500 x7786 (212) 660 7731 imposed by the property(212) 589 omissions, change of price, rental or other(212) conditions, without notice, and to any special listing conditions owner(s). As 5119 applicable, we make no representation as to the condition of the property (or properties) in question. [email protected] [email protected] [email protected] [email protected]
For More Information, Please Contact:
