40-08 76th street - Agorafy
40-08 76TH STREET ELMHURST, NY 11373 Elevator Apartment Building
FOR SALE
Newer Construction, Steps to Roosevelt Avenue
BUILDING FEATURES BLOCK / LOT:
1486 / 32
LOT DIMENSIONS:
40’ x 100’
LOT SIZE:
4,000 SF
BUILDING DIMENSIONS:
31.7’ x 95’ (approx.)
NO. OF STORIES:
7 plus cellar
BUILDING SIZE:
18,500 SF (approx.)
NO. OF UNITS:
2 Retail, 1 Community Use, 10 Residential
ZONING:
C2-3 / R6
RE TAXES (15/16):
$20,104 (approx. after 421-A exemption)
PROPERTY DESCRIPTION Cushman & Wakefield is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of a 7-story, elevator apartment building, comprised of approx. 18,500 gross square feet. The building consists of retail and community facility units on the ground floor, 10 residential units over the upper floors, and cellar level retail space with separate access. There is currently a master lease in place for the ground floor and lower level, which expires in 2017. The residential portion is comprised of (8) 2BR/2BA units and (2) 3BR/3BA duplexes. All tenants are responsible to pay for their own gas, heating and electric costs. The retail rent is approx. 70% of current market value, and the average residential rent is approx. 80% of current market value, offering tremendous upside potential. The property is fully occupied, posing a prime investment or 1031 exchange opportunity. Contact exclusive agents for further information or inspection.
PROPERTY HIGHLIGHTS • •
ASKING PRICE •
$7,500,000
$378 / SF
• •
Prime Elmhurst / Jackson Heights location 2 blocks to the 74th Street-Broadway mass transit hub at Roosevelt Avenue with subway access and numerous bus lines Newer construction (Built in 2007) & currently 100% occupied All apartments have balconies, duplexes have outdoor terraces Tremendous upside potential
FOR MORE INFORMATION, PLEASE CONTACT: Thomas A. Donovan Vice Chairman (718) 512 2626 [email protected]
Daniel Abbondandolo Director (718) 512 2606 [email protected]
Tommy Lin Director (718) 512 2609 [email protected]
Eugene Kim Associate Director (718) 512 2618 [email protected]
CUSHMAN & WAKEFIELD 118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 nyinvestmentsales.com
The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, 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 C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)
FOR SALE
Newer Construction, Steps to Roosevelt Avenue
BUILDING FEATURES BLOCK / LOT:
1486 / 32
LOT DIMENSIONS:
40’ x 100’
LOT SIZE:
4,000 SF
BUILDING DIMENSIONS:
31.7’ x 95’ (approx.)
NO. OF STORIES:
7 plus cellar
BUILDING SIZE:
18,500 SF (approx.)
NO. OF UNITS:
2 Retail, 1 Community Use, 10 Residential
ZONING:
C2-3 / R6
RE TAXES (15/16):
$20,104 (approx. after 421-A exemption)
PROPERTY DESCRIPTION Cushman & Wakefield is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of a 7-story, elevator apartment building, comprised of approx. 18,500 gross square feet. The building consists of retail and community facility units on the ground floor, 10 residential units over the upper floors, and cellar level retail space with separate access. There is currently a master lease in place for the ground floor and lower level, which expires in 2017. The residential portion is comprised of (8) 2BR/2BA units and (2) 3BR/3BA duplexes. All tenants are responsible to pay for their own gas, heating and electric costs. The retail rent is approx. 70% of current market value, and the average residential rent is approx. 80% of current market value, offering tremendous upside potential. The property is fully occupied, posing a prime investment or 1031 exchange opportunity. Contact exclusive agents for further information or inspection.
PROPERTY HIGHLIGHTS • •
ASKING PRICE •
$7,500,000
$378 / SF
• •
Prime Elmhurst / Jackson Heights location 2 blocks to the 74th Street-Broadway mass transit hub at Roosevelt Avenue with subway access and numerous bus lines Newer construction (Built in 2007) & currently 100% occupied All apartments have balconies, duplexes have outdoor terraces Tremendous upside potential
FOR MORE INFORMATION, PLEASE CONTACT: Thomas A. Donovan Vice Chairman (718) 512 2626 [email protected]
Daniel Abbondandolo Director (718) 512 2606 [email protected]
Tommy Lin Director (718) 512 2609 [email protected]
Eugene Kim Associate Director (718) 512 2618 [email protected]
CUSHMAN & WAKEFIELD 118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 nyinvestmentsales.com
The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, 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 C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)
