43 prospect place brooklyn, ny 11217
43 PROSPECT PLACE BROOKLYN, NY 11217 Six Family Walk-up
PROPERTY FEATURES The subject property is a four-story, multi-family walk-up building located on the North side of Prospect Place between 5th and 6th Avenues in Park Slope, Brooklyn. The property currently features six residential units, two floor through apartments and four ‘front’ and ‘rear’, one bedroom apartments. Currently, two of the units are rent stabilized and the remaining four are free market collecting market rate rents. The property is located in the heart of beautiful Park on one of the most coveted blocks in the area. The property ideally located just three blocks away from the Bergen Street subway stop where the 2 and 3 trains are accessible and just two blocks from the 7th Avenue stop where the B and Q trains can be accessed. Additionally, the property benefits from its proximity to the Barclay’s Center, Prospect Park, and all that Park Slope has to offer. This is a great opportunity to own a piece of this desirable area of Brooklyn.
BUILDING FEATURES
ASKING PRICE
$2,750,000
LOCATION
Located on the north side Prospect Place between and 6th Avenues
BLOCK / LOT
935 / 58
ZONING
R6B
FAR
2.00
LOT SIZE
20’ x 81’ SF (Approx.)
LOT SF
1,620 SF (Approx.)
BUILDING DIMENSIONS
20’ x 38’ SF (Approx.)
BUILDING SIZE
3,010 SF (Approx.)
STORIES
4
UNITS
6
ASSESSMENT (15/16)
$100,248
TAXES (15/16)
$12,887
FOR MORE INFORMATION, PLEASE CONTACT: Winfield Clifford Director (718) 606 7054 [email protected]
Edward Gevinski Director (718) 307 6502 [email protected]
James Singleton Associate Director (718) 606 7047 [email protected]
CUSHMAN & WAKEFIELD Brian Streilein 205 Montague Street, 3rd Floor Senior Associate Brooklyn, NY 11201 (718) 307 6505 nyinvestmentsales.com [email protected]
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.
43 PROSPECT PLACE, BROOKLYN NY 11217
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
Six Family Walk-Up for Sale ACTUAL REVENUE SUBHEAD GROSS INCOME
$116,825
VACANCY & COLLECTION
2.00%
($2,337)
EFFECTIVE GROSS INCOME
$114,488
PROJECTED EXPENSES Per NYC Dept. of Finance
($12,887)
WATER AND SEWER
Estimated at $0.65/SF
($1,957)
INSURANCE
Estimated at $1.00/SF
($3,010)
FUEL
Estimated at $1.50/SF
($4,515)
COMMON AREA ELECTRIC
Estimated at $0.25/SF
($753)
REPAIRS AND MAINTENANCE
Estimated at 3% of EGI
($3,435)
MANAGEMENT AND RESERVE
Estimated at 3% of EGI
($3,435)
REAL ESTATE TAXES (15/16)
TOTAL EXPENSES
($29,991)
NET OPERATING INCOME EFFECTIVE GROSS INCOME
$114,488
TOTAL EXPENSES
($29,991)
N.O.I
$84,498
ASKING PRICE
$2,750,000 Revenue Unit
Status
Lease Expiration
Layout
N.S.F*
P.P.S.F
Monthly Rent
Annual Rent
GARDEN
RS
11/30/2016
3BR 1BA
684
$9
$493
$5,916
1R
FM
6/30/2015
1BR 1BA
342
$65
$1,850
$22,200
1F
RS
11/30/2016
1BR 1BA
342
$14
$392
$4,709
2R
FM
4/30/2016
1BR 1BA
342
$63
$1,800
$21,600
2F
FM
2/30/16
1BR 1BA
342
$67
$1,900
$22,800
3
FM
7/31/2015
3BR 1BA
684
$58
$3,300
$39,600
2,736
$46
$9,735
$116,820
TOTAL *Estimated N.S.F utilizing a 10% loss factor FOR MORE INFORMATION, PLEASE CONTACT: Winfield Clifford Director (718) 606 7054 [email protected]
Edward Gevinski Director (718) 307 6502 [email protected]
James Singleton Associate Director (718) 606 7047 [email protected]
CUSHMAN & WAKEFIELD Brian Streilein 205 Montague Street, 3rd Floor Senior Associate Brooklyn, NY 11201 (718) 307 6505 nyinvestmentsales.com [email protected]
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.
PROPERTY FEATURES The subject property is a four-story, multi-family walk-up building located on the North side of Prospect Place between 5th and 6th Avenues in Park Slope, Brooklyn. The property currently features six residential units, two floor through apartments and four ‘front’ and ‘rear’, one bedroom apartments. Currently, two of the units are rent stabilized and the remaining four are free market collecting market rate rents. The property is located in the heart of beautiful Park on one of the most coveted blocks in the area. The property ideally located just three blocks away from the Bergen Street subway stop where the 2 and 3 trains are accessible and just two blocks from the 7th Avenue stop where the B and Q trains can be accessed. Additionally, the property benefits from its proximity to the Barclay’s Center, Prospect Park, and all that Park Slope has to offer. This is a great opportunity to own a piece of this desirable area of Brooklyn.
BUILDING FEATURES
ASKING PRICE
$2,750,000
LOCATION
Located on the north side Prospect Place between and 6th Avenues
BLOCK / LOT
935 / 58
ZONING
R6B
FAR
2.00
LOT SIZE
20’ x 81’ SF (Approx.)
LOT SF
1,620 SF (Approx.)
BUILDING DIMENSIONS
20’ x 38’ SF (Approx.)
BUILDING SIZE
3,010 SF (Approx.)
STORIES
4
UNITS
6
ASSESSMENT (15/16)
$100,248
TAXES (15/16)
$12,887
FOR MORE INFORMATION, PLEASE CONTACT: Winfield Clifford Director (718) 606 7054 [email protected]
Edward Gevinski Director (718) 307 6502 [email protected]
James Singleton Associate Director (718) 606 7047 [email protected]
CUSHMAN & WAKEFIELD Brian Streilein 205 Montague Street, 3rd Floor Senior Associate Brooklyn, NY 11201 (718) 307 6505 nyinvestmentsales.com [email protected]
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.
43 PROSPECT PLACE, BROOKLYN NY 11217
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
Six Family Walk-Up for Sale ACTUAL REVENUE SUBHEAD GROSS INCOME
$116,825
VACANCY & COLLECTION
2.00%
($2,337)
EFFECTIVE GROSS INCOME
$114,488
PROJECTED EXPENSES Per NYC Dept. of Finance
($12,887)
WATER AND SEWER
Estimated at $0.65/SF
($1,957)
INSURANCE
Estimated at $1.00/SF
($3,010)
FUEL
Estimated at $1.50/SF
($4,515)
COMMON AREA ELECTRIC
Estimated at $0.25/SF
($753)
REPAIRS AND MAINTENANCE
Estimated at 3% of EGI
($3,435)
MANAGEMENT AND RESERVE
Estimated at 3% of EGI
($3,435)
REAL ESTATE TAXES (15/16)
TOTAL EXPENSES
($29,991)
NET OPERATING INCOME EFFECTIVE GROSS INCOME
$114,488
TOTAL EXPENSES
($29,991)
N.O.I
$84,498
ASKING PRICE
$2,750,000 Revenue Unit
Status
Lease Expiration
Layout
N.S.F*
P.P.S.F
Monthly Rent
Annual Rent
GARDEN
RS
11/30/2016
3BR 1BA
684
$9
$493
$5,916
1R
FM
6/30/2015
1BR 1BA
342
$65
$1,850
$22,200
1F
RS
11/30/2016
1BR 1BA
342
$14
$392
$4,709
2R
FM
4/30/2016
1BR 1BA
342
$63
$1,800
$21,600
2F
FM
2/30/16
1BR 1BA
342
$67
$1,900
$22,800
3
FM
7/31/2015
3BR 1BA
684
$58
$3,300
$39,600
2,736
$46
$9,735
$116,820
TOTAL *Estimated N.S.F utilizing a 10% loss factor FOR MORE INFORMATION, PLEASE CONTACT: Winfield Clifford Director (718) 606 7054 [email protected]
Edward Gevinski Director (718) 307 6502 [email protected]
James Singleton Associate Director (718) 606 7047 [email protected]
CUSHMAN & WAKEFIELD Brian Streilein 205 Montague Street, 3rd Floor Senior Associate Brooklyn, NY 11201 (718) 307 6505 nyinvestmentsales.com [email protected]
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.
