230 East 27th Street.indd - Agorafy
230
E AST 27 TH S TREET N EW Y ORK , N EW Y ORK 10016
K IPS B AY M ULTI -F AMILY B UILDING F OR S ALE
Block / Lot:
907 / 41
Lot Dimensions: (Approx.)
45’ x 98.75’
Lot SF: (Approx.)
4,444
Building Dimensions: (Approx.)
45’ x 90’ Irr.
Building SF: (Approx.)
22,000
Stories:
6 + Lower Level
Zoning:
R8B
Allowable FAR:
4.00
Air Rights SF: (Approx.)
None
Historic District:
None
RE Assessment(14/15):
$1,563,047
Actual RE Taxes(14/15):
$200,930
Description: A 6-story, 45’ wide walk-up apartment building located on the south side of East 27th Street between 2nd and 3rd Avenues. The building consists of 25 residential units, of which 19 are FM, 3 are RS, and 3 are RC. All of the units are 3 BRs, with the exception of an expansive, ground floor 5 BR unit featuring a private terrace and patio located on the garden level. A majority of the residences were recently gut renovated and feature high-end finishings including marble countertops, stainless steel appliances, hardwood floors, and high end cabinetry. The building is 100% occupied with an average in-place rent of $3,433 per month or $56/SF, which is below market. It is located within 3 blocks of the East 28th Street 6 train stop. This represents an excellent high cash flowing asset with long term upside.
ASKING PRICE : $20,500,000 For further information or inspection please contact Exclusive Agents:
For Financing: JAMES NELSON Partner 212.696.2500 x7710
JOHN CIRAULO Vice Chairman 212.696.2500 x7700
CRAIG WAGGNER Director of Sales 212.660.7744
DAVID SHALOM Associate 212.660.7767
BRANDON POLAKOFF Associate 212.660.7755
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
SCOTT AIESE Director - Capital Service 212.696.2500 x 7738 [email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333
4
115 MACDOUGAL STREET
!
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www.masseyknakal.com #
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230
E AST 27 TH S TREET N EW Y ORK , N EW Y ORK 10016
K IPS B AY M ULTI -F AMILY B UILDING F OR S ALE
Unit
Status
Type
LXP
1
FM
Duplex - 3 BR / 2 BA
Jun-15
$4,850
$58,200
$5,250
$63,000
2
FM
Duplex - 3 BR / 2 BA
Jun-15
$4,900
$58,800
$5,250
$63,000
3
FM
3 BR / 1 BA
Aug-15
$4,000
$48,000
$4,650
$55,800
4
FM
3 BR / 2 BA
Oct-15
$4,375
$52,500
$5,250
$63,000 $55,800
(1)
In-Place Monthly Rent
In-Place Annual Rent
Proj. Monthly Rent
Proj. Annual Rent
5
FM
3 BR / 1 BA
Jul-15
$4,250
$51,000
$4,650
6
RC
3 BR / 2 BA
N/A
$102
$1,224
$102
$1,224
7
FM
3 BR / 2 BA
Apr-15
$4,400
$52,800
$5,250
$63,000
8
FM
3 BR / 2 BA
May-15
$4,650
$55,800
$5,250
$63,000
9
FM
3 BR / 1 BA
Jun-15
$4,350
$52,200
$4,650
$55,800
10
RS
3 BR / 2 BA
Jun-15
$753
$9,036
$753
$9,036
11
FM
3 BR / 2 BA
Jun-15
$4,350
$52,200
$5,250
$63,000
12
FM
3 BR / 2 BA
Aug-15
$5,000
$60,000
$5,250
$63,000
13
FM
3 BR / 1 BA
May-15
$4,200
$50,400
$4,650
$55,800
14
RC
3 BR / 2 BA
N/A
$172
$2,064
$172
$2,064
15
FM
3 BR / 2 BA
Oct-15
$4,500
$54,000
$5,250
$63,000
16
RS
3 BR / 2 BA
Jan-16
$818
$9,816
$818
$9,816
17
FM
3 BR / 1 BA
May-15
$4,250
$51,000
$4,650
$55,800
18
FM
3 BR / 2 BA
Jun-15
$4,250
$51,000
$5,250
$63,000
19
FM
3 BR / 2 BA
Jul-15
$4,400
$52,800
$5,250
$63,000
20
RS
3 BR / 2 BA
Apr-15
$692
$8,304
$692
$8,304
21
FM
3 BR / 1 BA
Jul-15
$4,400
$52,800
$4,650
$55,800 $63,000
22
FM
3 BR / 2 BA
May-15
$4,300
$51,600
$5,250
23
RC
3 BR / 2 BA
N/A
$127
$1,524
$127
$1,524
24
FM
3 BR / 2 BA
Oct-15
$4,300
$51,600
$5,250
$63,000
G
FM
5 BR / 2 BA
Jun-16
$7,600
$91,200
$8,000
$96,000
$89,989
$1,079,868
$101,564
$1,218,768
*YELLOW DENOTES PROJECTION AT MARKET UNIT FEATURES OUTDOOR SPACE
(1)
EXPENSES (Actual / Projected - Based On Actual Income
In-Place
Projected
(Actual)
$200,930
$200,930
Common Area Electric
(Projected @ $.25/SF)
$5,315
$5,315
Insurance
(Projected @ $1.00/SF)
$21,258
$21,258
Water & Sewer
(Projected @ $.75/SF)
Real Estate Taxes (14/15)
$15,944
$15,944
(Actual)
$23,500
$23,500
(Projected @ $500/Unit)
$12,500
$12,500
Fuel Repairs & Maintenance Super
(Projected @ $750/Month)
$9,000
$9,000
(Projected @ 3% of Gross Income)
$32,396
$36,563
Total
$320,842
$325,009
Gross Annual Income:
$1,079,968
$1,218,768
Less Expenses:
$320,842
$325,009
Net Operating Income:
$759,026
$893,759
Management
For further information or inspection please contact Exclusive Agents:
For Financing: JAMES NELSON Partner 212.696.2500 x7710
JOHN CIRAULO Vice Chairman 212.696.2500 x7700
CRAIG WAGGNER Director of Sales 212.660.7744
DAVID SHALOM Associate 212.660.7767
BRANDON POLAKOFF Associate 212.660.7755
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
SCOTT AIESE Director - Capital Service 212.696.2500 x 7738 [email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. 7
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WESTCHESTER
E AST 27 TH S TREET N EW Y ORK , N EW Y ORK 10016
K IPS B AY M ULTI -F AMILY B UILDING F OR S ALE
Block / Lot:
907 / 41
Lot Dimensions: (Approx.)
45’ x 98.75’
Lot SF: (Approx.)
4,444
Building Dimensions: (Approx.)
45’ x 90’ Irr.
Building SF: (Approx.)
22,000
Stories:
6 + Lower Level
Zoning:
R8B
Allowable FAR:
4.00
Air Rights SF: (Approx.)
None
Historic District:
None
RE Assessment(14/15):
$1,563,047
Actual RE Taxes(14/15):
$200,930
Description: A 6-story, 45’ wide walk-up apartment building located on the south side of East 27th Street between 2nd and 3rd Avenues. The building consists of 25 residential units, of which 19 are FM, 3 are RS, and 3 are RC. All of the units are 3 BRs, with the exception of an expansive, ground floor 5 BR unit featuring a private terrace and patio located on the garden level. A majority of the residences were recently gut renovated and feature high-end finishings including marble countertops, stainless steel appliances, hardwood floors, and high end cabinetry. The building is 100% occupied with an average in-place rent of $3,433 per month or $56/SF, which is below market. It is located within 3 blocks of the East 28th Street 6 train stop. This represents an excellent high cash flowing asset with long term upside.
ASKING PRICE : $20,500,000 For further information or inspection please contact Exclusive Agents:
For Financing: JAMES NELSON Partner 212.696.2500 x7710
JOHN CIRAULO Vice Chairman 212.696.2500 x7700
CRAIG WAGGNER Director of Sales 212.660.7744
DAVID SHALOM Associate 212.660.7767
BRANDON POLAKOFF Associate 212.660.7755
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
SCOTT AIESE Director - Capital Service 212.696.2500 x 7738 [email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333
4
115 MACDOUGAL STREET
!
"
www.masseyknakal.com #
THE BRONX
$
%
%
&
'
(
)
BROOKLYN
*
+
)
,
+
-
-
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MANHATTAN
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.
+
/
NASSAU
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)
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QUEENS
.
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0
)
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+
)
5
STATEN ISLAND
1
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-
6
,
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$
WESTCHESTER
e
x
230
E AST 27 TH S TREET N EW Y ORK , N EW Y ORK 10016
K IPS B AY M ULTI -F AMILY B UILDING F OR S ALE
Unit
Status
Type
LXP
1
FM
Duplex - 3 BR / 2 BA
Jun-15
$4,850
$58,200
$5,250
$63,000
2
FM
Duplex - 3 BR / 2 BA
Jun-15
$4,900
$58,800
$5,250
$63,000
3
FM
3 BR / 1 BA
Aug-15
$4,000
$48,000
$4,650
$55,800
4
FM
3 BR / 2 BA
Oct-15
$4,375
$52,500
$5,250
$63,000 $55,800
(1)
In-Place Monthly Rent
In-Place Annual Rent
Proj. Monthly Rent
Proj. Annual Rent
5
FM
3 BR / 1 BA
Jul-15
$4,250
$51,000
$4,650
6
RC
3 BR / 2 BA
N/A
$102
$1,224
$102
$1,224
7
FM
3 BR / 2 BA
Apr-15
$4,400
$52,800
$5,250
$63,000
8
FM
3 BR / 2 BA
May-15
$4,650
$55,800
$5,250
$63,000
9
FM
3 BR / 1 BA
Jun-15
$4,350
$52,200
$4,650
$55,800
10
RS
3 BR / 2 BA
Jun-15
$753
$9,036
$753
$9,036
11
FM
3 BR / 2 BA
Jun-15
$4,350
$52,200
$5,250
$63,000
12
FM
3 BR / 2 BA
Aug-15
$5,000
$60,000
$5,250
$63,000
13
FM
3 BR / 1 BA
May-15
$4,200
$50,400
$4,650
$55,800
14
RC
3 BR / 2 BA
N/A
$172
$2,064
$172
$2,064
15
FM
3 BR / 2 BA
Oct-15
$4,500
$54,000
$5,250
$63,000
16
RS
3 BR / 2 BA
Jan-16
$818
$9,816
$818
$9,816
17
FM
3 BR / 1 BA
May-15
$4,250
$51,000
$4,650
$55,800
18
FM
3 BR / 2 BA
Jun-15
$4,250
$51,000
$5,250
$63,000
19
FM
3 BR / 2 BA
Jul-15
$4,400
$52,800
$5,250
$63,000
20
RS
3 BR / 2 BA
Apr-15
$692
$8,304
$692
$8,304
21
FM
3 BR / 1 BA
Jul-15
$4,400
$52,800
$4,650
$55,800 $63,000
22
FM
3 BR / 2 BA
May-15
$4,300
$51,600
$5,250
23
RC
3 BR / 2 BA
N/A
$127
$1,524
$127
$1,524
24
FM
3 BR / 2 BA
Oct-15
$4,300
$51,600
$5,250
$63,000
G
FM
5 BR / 2 BA
Jun-16
$7,600
$91,200
$8,000
$96,000
$89,989
$1,079,868
$101,564
$1,218,768
*YELLOW DENOTES PROJECTION AT MARKET UNIT FEATURES OUTDOOR SPACE
(1)
EXPENSES (Actual / Projected - Based On Actual Income
In-Place
Projected
(Actual)
$200,930
$200,930
Common Area Electric
(Projected @ $.25/SF)
$5,315
$5,315
Insurance
(Projected @ $1.00/SF)
$21,258
$21,258
Water & Sewer
(Projected @ $.75/SF)
Real Estate Taxes (14/15)
$15,944
$15,944
(Actual)
$23,500
$23,500
(Projected @ $500/Unit)
$12,500
$12,500
Fuel Repairs & Maintenance Super
(Projected @ $750/Month)
$9,000
$9,000
(Projected @ 3% of Gross Income)
$32,396
$36,563
Total
$320,842
$325,009
Gross Annual Income:
$1,079,968
$1,218,768
Less Expenses:
$320,842
$325,009
Net Operating Income:
$759,026
$893,759
Management
For further information or inspection please contact Exclusive Agents:
For Financing: JAMES NELSON Partner 212.696.2500 x7710
JOHN CIRAULO Vice Chairman 212.696.2500 x7700
CRAIG WAGGNER Director of Sales 212.660.7744
DAVID SHALOM Associate 212.660.7767
BRANDON POLAKOFF Associate 212.660.7755
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
SCOTT AIESE Director - Capital Service 212.696.2500 x 7738 [email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. 7
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www.masseyknakal.com Z
THE BRONX
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BROOKLYN
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MANHATTAN
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NEW JERSEY
j
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QUEENS
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STATEN ISLAND
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WESTCHESTER
