445 graham avenue
FOR SALE
445 GRAHAM AVENUE Williamsburg, Brooklyn
MIXED-USE BUILDING IN WILLIAMSBURG PROPERTY FEATURES
445 GRAHAM AVENUE
Williamsburg L
G
PROJECTED INCOME UNIT
STATUS
EXPIRATION
(1)
S.F.
$ / S.F. MONTHLY RENT (2) ANNUAL RENT
Commercial
Vacant
N/A
1,000
$75
$6,250
$75,000
2
Free Market
Mo. to Mo.
1,000
$55
$4,583
$55,000
3
Free Market
Mo. to Mo.
500
$55
$2,292
$27,500
4
Free Market
Dec-15
500
$55
$2,292
$27,500
3,000
$60
$15,417
$185,000
TOTAL (1)
S.F. is estimated using a 15% loss factor
(2)
REAL ESTATE TAXES (15/16)
Department o f Finance
$10,179
INSURANCE
estimated @ $ 1.00 / SF
$3,525
WATER & SEWER
estimated @ $ 0.50 / residential SF
$1,000
HEAT
estimated @ $ 1.25 / SF
$4,406
COMMON ELECTRIC
estimated @ 60 / mo .
REPAIRS & MAINTENANCE
estimated @ 3% o f gro ss inco me
$5,550
PROPERTY MANAGEMENT & VACANCY
estimated @ 5% o f gro ss inco me
$9,250
$185,000
LESS EXPENSES
$34,630
NET OPERATING INCOME
$150,370
REDUCED ASKING PRICE
$3,250,000
$3,000,000
Lot Dimensions
25’ x 100’
Lot SF
2,500 approx.
Zoning
R6A / C2-4
Residential FAR
3.00
Commercial FAR
2.00
Building Dimensions
25’ x 47’
Building SF
3,525 approx.
Stories
3
Total Buildable SF
7,500 approx.
Available Air Rights
3,975 approx.
Assessment (15/16)
$79,008
Taxes (15/16)
$10,179
Tax Class
Protected Class 2A
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a mixed-use building with development potential located at 445 Graham Avenue in Williamsburg, Brooklyn. The three-story building currently comprises three apartments above a vacant retail space. Two of the apartments are rented on a month-to-month basis and one has a free-market lease expiring on December 31 of this year. The 3,975 SF of available air rights can be used to build a retail extension and additional residential space to the building. The property is conveniently located near the BQE and within a few blocks of the Graham Avenue L train station, allowing for quick access to virtually any destination in the five boroughs. The McCarren Park is also just two blocks away.
For more information, please contact:
$720
$34,630
GROSS ANNUAL INCOME
2734 / 23
Rents are projected due to occupancy status
PROJECTED EXPENSES
TOTAL
L
Block / Lot
OR 5.0% PROJECTED CAP RATE
Brendan Maddigan Director of Sales 718.307.6507
Mark Lively Associate Director 718.307.6524
[email protected]
[email protected]
Ethan Stanton Senior Associate 718.307.6553
Michael Gigante Associate 718.307.6555
[email protected]
[email protected]
Bogdan Trach Associate 718.307.6554
Taylor Wos Associate 718.307.6506
[email protected]
[email protected]
205 Montague Street, 3rd Floor, Brooklyn, NY 11201 cushmanwakefield.com 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.
445 GRAHAM AVENUE Williamsburg, Brooklyn
MIXED-USE BUILDING IN WILLIAMSBURG PROPERTY FEATURES
445 GRAHAM AVENUE
Williamsburg L
G
PROJECTED INCOME UNIT
STATUS
EXPIRATION
(1)
S.F.
$ / S.F. MONTHLY RENT (2) ANNUAL RENT
Commercial
Vacant
N/A
1,000
$75
$6,250
$75,000
2
Free Market
Mo. to Mo.
1,000
$55
$4,583
$55,000
3
Free Market
Mo. to Mo.
500
$55
$2,292
$27,500
4
Free Market
Dec-15
500
$55
$2,292
$27,500
3,000
$60
$15,417
$185,000
TOTAL (1)
S.F. is estimated using a 15% loss factor
(2)
REAL ESTATE TAXES (15/16)
Department o f Finance
$10,179
INSURANCE
estimated @ $ 1.00 / SF
$3,525
WATER & SEWER
estimated @ $ 0.50 / residential SF
$1,000
HEAT
estimated @ $ 1.25 / SF
$4,406
COMMON ELECTRIC
estimated @ 60 / mo .
REPAIRS & MAINTENANCE
estimated @ 3% o f gro ss inco me
$5,550
PROPERTY MANAGEMENT & VACANCY
estimated @ 5% o f gro ss inco me
$9,250
$185,000
LESS EXPENSES
$34,630
NET OPERATING INCOME
$150,370
REDUCED ASKING PRICE
$3,250,000
$3,000,000
Lot Dimensions
25’ x 100’
Lot SF
2,500 approx.
Zoning
R6A / C2-4
Residential FAR
3.00
Commercial FAR
2.00
Building Dimensions
25’ x 47’
Building SF
3,525 approx.
Stories
3
Total Buildable SF
7,500 approx.
Available Air Rights
3,975 approx.
Assessment (15/16)
$79,008
Taxes (15/16)
$10,179
Tax Class
Protected Class 2A
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a mixed-use building with development potential located at 445 Graham Avenue in Williamsburg, Brooklyn. The three-story building currently comprises three apartments above a vacant retail space. Two of the apartments are rented on a month-to-month basis and one has a free-market lease expiring on December 31 of this year. The 3,975 SF of available air rights can be used to build a retail extension and additional residential space to the building. The property is conveniently located near the BQE and within a few blocks of the Graham Avenue L train station, allowing for quick access to virtually any destination in the five boroughs. The McCarren Park is also just two blocks away.
For more information, please contact:
$720
$34,630
GROSS ANNUAL INCOME
2734 / 23
Rents are projected due to occupancy status
PROJECTED EXPENSES
TOTAL
L
Block / Lot
OR 5.0% PROJECTED CAP RATE
Brendan Maddigan Director of Sales 718.307.6507
Mark Lively Associate Director 718.307.6524
[email protected]
[email protected]
Ethan Stanton Senior Associate 718.307.6553
Michael Gigante Associate 718.307.6555
[email protected]
[email protected]
Bogdan Trach Associate 718.307.6554
Taylor Wos Associate 718.307.6506
[email protected]
[email protected]
205 Montague Street, 3rd Floor, Brooklyn, NY 11201 cushmanwakefield.com 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.
