372 Baltic Street Brooklyn, NY 11201 Walk-up
FOR SALE BUILDING FEATURES LOCATION
Located on the South side of Baltic Street between Smith and Hoyt Streets
BLOCK / LOT
403 / 30
LOT SIZE
29.5’ x 100’ SF (Approx.)
BUILDING SIZE
29.5’ x 100’ SF (Approx.)
STORIES
4
GROSS SF
7,080 SF (Approx.)
RENT STABLIZED UNITS
6
FREE MARKET UNITS
2
TOTAL UNITS
8
ZONING
R6B
LOT SF
2,950 SF (Approx.)
AIR RIGHTS
Overbuilt
ASSESSMENT (‘15/'16)
$78,192
TAXES (‘15/’16)
$10,052
PROPERTY FEATURES
ACTUAL EXPENSES REAL ESTATE TAXES (15/16)
PROPERTY FEATURES The subject property is a four-story walkup apartment building located on the south side of Baltic Street between Smith and Hoyt Streets in Cobble Hill, Brooklyn. The property contains 8, two-bedroom apartments. The two free-market apartments have been gut-renovated and the remaining six are rent stabilized.
INSURANCE
$5,300
FUEL
$8,700
ELECTRIC
$1,500
WATER AND SEWER
$5,300
REPAIRS AND MAINTENANCE
$1,600
SUPER
$40,852
TOTAL ANNUAL EXPENSES
$40,852
EFFECTIVE GROSS ANNUAL REVENUE LESS EXPENSES @ 27%
The building is located directly across the street from Boerum Park and steps away from the prime retail corridor of Smith Street featuring high end boutiques, local restaurants, and national retailers. Some of these retailers within blocks of the subject property include: Stinky Bklyn, Epaulet, Char No. 4, Starbucks, Chase Bank, and Lululemon. The property is two blocks from the Bergen Street F & G subway and B57 bus stops.
$10,052
NET OPERATING INCOME
$153,166 $40,852 $112,314
ASKING PRICE
$3,400,000
FOR MORE INFORMATION, PLEASE CONTACT: Winfield Clifford Director (718) 606 7054
[email protected] James Singleton Associate Director (718) 606 7047
[email protected] CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brooklyn, NY 11201 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
372 BALTIC STREET, BROOKLYN NY 11201
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
Walk-Up for Sale SUBHEAD
ASKING PRICE
$3,400,000 Revenue Unit
Status
Lease Expiration
Type
Size
P.P.S.F
Monthly Rent
Annual Rent
1L
FM
15-Mar
2BR
797
$41
$2,750
$33,000
1R
RS
15-Feb
2BR
797
$17
$1,139
$13,666
2L
RS
15-Nov
2BR
797
$11
$755
$9,058
2R
FM
15-Jul
2BR
797
$36
$2,400
$28,800
3L
RS
15-Nov
2BR
797
$20
$1,322
$15,867
3R
RS
15-Dec
2BR
797
$12
$826
$9,911
4L
RS
16-Mar
2BR
797
$28
$1,854
$22,242
4R
RS
15-Dec
2BR
797
$26
$1,718
$20,621
6,376
$24
$12,764
$153,168
TOTAL
*SF accounts for a 10% loss factor
FOR MORE INFORMATION, PLEASE CONTACT: Winfield Clifford Director (718) 606 7054
[email protected] James Singleton Associate Director (718) 606 7047
[email protected] CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brooklyn, NY 11201 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.