457 68th street - NYC - Agorafy
457 68TH STREET
BAY RIDGE, BROOKLYN, NY 11220 Walk-Up Building
FOR SALE
3-Story, 6 unit Walk-Up PROPERTY OVERVIEW
DESCRIPTION The subject property is a 3 story walkup on the north side of 68th Street between 4th and 5th Avenue in Bay Ridge. The building contains 5 rent stabilized units and 1 free market unit. The building is kept in great condition. The subject is located around the corner from the Bay Ridge Ave R train station with direct access to Downtown Brooklyn and Manhattan in approx. 30 minutes. The property is located on a quiet tree-lined street near prime retail shopping and dining on 3rd Avenue, 4th Avenue, and Bay Ridge Avenue. Nearby greenspace include Owl’s Head Park and Leif Ericson Park & Square. Take advantage of this opportunity to own an income producing asset in a great part of Bay Ridge, Brooklyn. ASKING PRICE
$1,600,000
LOCATION:
North side of 68th Street between 4th Avenue and 5th Avenue
BLOCK / LOT:
5855 / 66
ZONING:
R5B
FAR:
1.35
LOT SIZE:
25.83’ x 100.08’
(SF, Approx.)
LOT SF:
2,290
(SF, Approx.)
BUILDING DIMENSIONS:
23’ x 75’
(SF, Approx.)
BUILDING SIZE:
4,263
(SF, Approx.)
STORIES:
3
UNITS:
6
ASSESSMENT (‘15/’16):
$112,912
TAXES (‘15/’16):
$14,515
ACTUAL REVENUE Gross Income Vacancy & Collection
$106,839 ($3,205)
3.00%
$103,634
Effective Gross Income
PROJECTED EXPENSES R. E. Taxes (‘15/’16)
Per NYC Dept of Finance
$14,515
Actual 2015 Water/Sewer Expense
$6,029
Insurance
Actual Provided By Owner
$3,532
Gas
Actual Provided By Owner
$4,604
Common Area Electric
Actual Provided By Owner
$1,729
Estimated at 3%
$3,109
Water & Sewer
Repairs and Maintenance Management & Reserve
Estimated at 4% of EGI
$4,145
Total Annual Expenses:
$37,663
Effective Gross Income:
$103,634
Total Expenses:
$37,663
Net Operating Income:
$65,971
FOR MORE INFORMATION, PLEASE CONTACT: Aaron Warkov Director (718) 307 6551 [email protected]
Adam Ecker Senior Associate (718) 606 7049 [email protected]
Daniel Arnel Associate (718) 606 7077 [email protected]
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brooklyn, NY 11201 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.)
457 68TH STREET
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
6-Family Walk-up For Sale
RENT ROLL UNIT
STATUS
LAYOUT
EXPIRATION
N.S.F.*
MONTHLY RENT
$/S.F.
ANNUAL RENT
1F
RS
2 Bedroom
3/31/2017
604
$1,496
$30
$17,952
1R
RS
2 Bedroom + Backyard
5/31/2016
604
$2,200
$44
$26,400
2F**
FM
2 Bedroom
1/31/2016
604
$1,800
$36
$21,600
2R
RS (Super)
2 Bedroom
10/31/2016
604
$1,110
$22
$13,320
3F
RS
2 Bedroom
11/30/2015
604
$1,131
$22
$13,575
3R
RS
2 Bedroom
11/30/2015
604
$1,166
$23
$13,992
3,624
$8,903
$29
$106,839
*Estimated N.S.F. utilizing a 15% loss factor **The rent for unit 2F is projected at market rate, the current tenant has a lease for $1,130/mo.
FOR MORE INFORMATION, PLEASE CONTACT: Aaron Warkov Director (718) 307 6551 [email protected]
Adam Ecker Senior Associate (718) 606 7049 [email protected]
Daniel Arnel Associate (718) 606 7077 [email protected]
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brooklyn, NY 11201 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.)
BAY RIDGE, BROOKLYN, NY 11220 Walk-Up Building
FOR SALE
3-Story, 6 unit Walk-Up PROPERTY OVERVIEW
DESCRIPTION The subject property is a 3 story walkup on the north side of 68th Street between 4th and 5th Avenue in Bay Ridge. The building contains 5 rent stabilized units and 1 free market unit. The building is kept in great condition. The subject is located around the corner from the Bay Ridge Ave R train station with direct access to Downtown Brooklyn and Manhattan in approx. 30 minutes. The property is located on a quiet tree-lined street near prime retail shopping and dining on 3rd Avenue, 4th Avenue, and Bay Ridge Avenue. Nearby greenspace include Owl’s Head Park and Leif Ericson Park & Square. Take advantage of this opportunity to own an income producing asset in a great part of Bay Ridge, Brooklyn. ASKING PRICE
$1,600,000
LOCATION:
North side of 68th Street between 4th Avenue and 5th Avenue
BLOCK / LOT:
5855 / 66
ZONING:
R5B
FAR:
1.35
LOT SIZE:
25.83’ x 100.08’
(SF, Approx.)
LOT SF:
2,290
(SF, Approx.)
BUILDING DIMENSIONS:
23’ x 75’
(SF, Approx.)
BUILDING SIZE:
4,263
(SF, Approx.)
STORIES:
3
UNITS:
6
ASSESSMENT (‘15/’16):
$112,912
TAXES (‘15/’16):
$14,515
ACTUAL REVENUE Gross Income Vacancy & Collection
$106,839 ($3,205)
3.00%
$103,634
Effective Gross Income
PROJECTED EXPENSES R. E. Taxes (‘15/’16)
Per NYC Dept of Finance
$14,515
Actual 2015 Water/Sewer Expense
$6,029
Insurance
Actual Provided By Owner
$3,532
Gas
Actual Provided By Owner
$4,604
Common Area Electric
Actual Provided By Owner
$1,729
Estimated at 3%
$3,109
Water & Sewer
Repairs and Maintenance Management & Reserve
Estimated at 4% of EGI
$4,145
Total Annual Expenses:
$37,663
Effective Gross Income:
$103,634
Total Expenses:
$37,663
Net Operating Income:
$65,971
FOR MORE INFORMATION, PLEASE CONTACT: Aaron Warkov Director (718) 307 6551 [email protected]
Adam Ecker Senior Associate (718) 606 7049 [email protected]
Daniel Arnel Associate (718) 606 7077 [email protected]
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brooklyn, NY 11201 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.)
457 68TH STREET
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
6-Family Walk-up For Sale
RENT ROLL UNIT
STATUS
LAYOUT
EXPIRATION
N.S.F.*
MONTHLY RENT
$/S.F.
ANNUAL RENT
1F
RS
2 Bedroom
3/31/2017
604
$1,496
$30
$17,952
1R
RS
2 Bedroom + Backyard
5/31/2016
604
$2,200
$44
$26,400
2F**
FM
2 Bedroom
1/31/2016
604
$1,800
$36
$21,600
2R
RS (Super)
2 Bedroom
10/31/2016
604
$1,110
$22
$13,320
3F
RS
2 Bedroom
11/30/2015
604
$1,131
$22
$13,575
3R
RS
2 Bedroom
11/30/2015
604
$1,166
$23
$13,992
3,624
$8,903
$29
$106,839
*Estimated N.S.F. utilizing a 15% loss factor **The rent for unit 2F is projected at market rate, the current tenant has a lease for $1,130/mo.
FOR MORE INFORMATION, PLEASE CONTACT: Aaron Warkov Director (718) 307 6551 [email protected]
Adam Ecker Senior Associate (718) 606 7049 [email protected]
Daniel Arnel Associate (718) 606 7077 [email protected]
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brooklyn, NY 11201 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.)
