464 3rd Avenue - Massey Knakal
464 3rd Avenue, Brooklyn, NY GOWANUS MIXED-USE BUILDING
FOR SALE ASKING PRICE
$2,500,000 BUILDING FEATURES Block / Lot
1008 / 38
Lot Size
25’ x 65’
Building Size
25’ x 40’
Lot SF
1,500
Building SF
4,151
$ / SF:
$602 / SF
Stories
3 plus basement
Zoning
M2-1
FAR
2.00
Assessment (17/18):
$28,227
Taxes (17/18):
$5,529
PROPERTY HIGHLIGHTS F G 464 3rd Avenue is located on the west side of 3rd Avenue between 9th and 10th Streets in the Gowanus neighborhood of Brooklyn. The property is an improved, three-story mixed use building with a vacant commercial space on the ground floor, and two, three-bedroom apartments above. The building measures 4,151 SF and also contains a backyard and basement. This is Gowanus’ premier mixed-use investment opportunity at an asking price of $2,500,000 or $602/SF.
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464 3rd Avenue is situated in the heart of the Gowanus just a block away from both the Smith-9th Street and 4th Avenue-9th Street subway stations. The building is also located at the intersection of the neighborhood’s two busiest commercial thoroughfares. 3rd Avenue connects Downtown Brooklyn to Sunset Park and 9th Street connects Carroll Gardens to Park Slope. 464 is also situated in close proximity to the neighborhood’s top attractions and shopping destinations: Whole Foods, Lowe’s, Royal Palms, Ample Hills, Fletcher’s BBQ, Dino BBQ, Other Half Brewing, Three’s Brewing, Strong Rope Brewery, Four & Twenty Blackbirds, The Bell House, Table 87, Insa, Bison & Bourbon, Runner & Stone, Littleneck, and more. For more information, please inquire within
For More Information, Please Contact: Winfield Clifford Senior Director 718 606 7054 [email protected]
William Barrett Senior Associate 718 606 7047 [email protected]
Cushman & Wakefield One Pierrepont Plaza, 9th Fl. Brooklyn, NY 11201 phone: +1 718 238 8999 nyinvestmentsales.com
Cushman Copyright 2017. No warranty or representation, expressexpress or implied, made toisthe accuracy completeness of the information contained herein, and sameherein, is submitted subjectistosubmitted errors, omissions, of Cushman&&Wakefield Wakefield Copyright 2015. No warranty or representation, or is implied, made to theoraccuracy or completeness of the information contained and same subject change to errors, price, rental or other conditions, withdrawal without notice, and to anyexpress special listing conditions imposed by thelisting property owner(s).imposed Asthe applicable, weproperty make noowner(s). representation as to the condition of the (or properties) in question. Cushman & wakefield copyright 2015. Noother warranty or representation, or implied, isand made to thespecial accuracy or completeness of information contained herein, andAs same is submitted to property errors, omissions, change ofcondition price, omissions, change of price, rental or conditions, withdrawal without notice, to any conditions by the applicable, we subject make no representation as to the rental 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. of theorproperty (or properties) in question.
464 3rd Avenue, Brooklyn, NY GOWANUS MIXED-USE BUILDING
REVENUE Unit
Status
Type
SF
$ / SF
Monthly Rent
Annual Rent
COMMERCIAL
VACANT
Retail
1,200
$50.00
$5,000**
$60,000
1
FM
3BR
1,200
$25.00
$2,500
$30,000
2
FM
3BR
1,200
$26.20
$2,600
$31,200
$10,100
$121,200
TOTAL
3,600*
*assumes ~15% loss factor **projected commercial/retail rent
ACTUAL REVENUE Gross Income Vacancy & Collection Effective Gross Income
2.00%
$121,200 ($2,424) $118,776
ACTUAL EXPENSES Real Estate Taxes (17/18)
per NY Dept. of Finance
Insurance Fuel Common Area Electric Water & Sewer Repairs & Maintenance
$400 / Residential Unit Pass-through $0.25 / GSF $0.65 / GSF $500 / Residential Unit
Management & Reserve
3% / EGI
Total Annual Expenses
$5,643 $800 $0 $1,038 $2,698 $1,000 $3,563 $14,742
NET OPERATING INCOME Effective Gross Income Total Expenses
$118,776 ($14,742)
N.O.I.
$104,034
For More Information, Please Contact: Winfield Clifford Senior Director 718 606 7054 [email protected]
William Barrett Senior Associate 718 606 7047 [email protected]
Cushman & Wakefield One Pierrepont Plaza,9th Fl. Brooklyn, NY 11201 phone: +1 718 238 8999 nyinvestmentsales.com
Cushman Copyright 2017. No warranty or representation, expressexpress or implied, made toisthe accuracy completeness of the information contained herein, and sameherein, is submitted subjectistosubmitted errors, omissions, of Cushman&&Wakefield Wakefield Copyright 2015. No warranty or representation, or is implied, made to theoraccuracy or completeness of the information contained and same subject change to errors, price, rental or other conditions, withdrawal without notice, and to anyexpress special listing conditions imposed by thelisting property owner(s).imposed Asthe applicable, weproperty make noowner(s). representation as to the condition of the (or properties) in question. Cushman & wakefield copyright 2015. Noother warranty or representation, or implied, isand made to thespecial accuracy or completeness of information contained herein, andAs same is submitted to property errors, omissions, change ofcondition price, omissions, change of price, rental or conditions, withdrawal without notice, to any conditions by the applicable, we subject make no representation as to the rental 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. of theorproperty (or properties) in question.
FOR SALE ASKING PRICE
$2,500,000 BUILDING FEATURES Block / Lot
1008 / 38
Lot Size
25’ x 65’
Building Size
25’ x 40’
Lot SF
1,500
Building SF
4,151
$ / SF:
$602 / SF
Stories
3 plus basement
Zoning
M2-1
FAR
2.00
Assessment (17/18):
$28,227
Taxes (17/18):
$5,529
PROPERTY HIGHLIGHTS F G 464 3rd Avenue is located on the west side of 3rd Avenue between 9th and 10th Streets in the Gowanus neighborhood of Brooklyn. The property is an improved, three-story mixed use building with a vacant commercial space on the ground floor, and two, three-bedroom apartments above. The building measures 4,151 SF and also contains a backyard and basement. This is Gowanus’ premier mixed-use investment opportunity at an asking price of $2,500,000 or $602/SF.
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464 3rd Avenue is situated in the heart of the Gowanus just a block away from both the Smith-9th Street and 4th Avenue-9th Street subway stations. The building is also located at the intersection of the neighborhood’s two busiest commercial thoroughfares. 3rd Avenue connects Downtown Brooklyn to Sunset Park and 9th Street connects Carroll Gardens to Park Slope. 464 is also situated in close proximity to the neighborhood’s top attractions and shopping destinations: Whole Foods, Lowe’s, Royal Palms, Ample Hills, Fletcher’s BBQ, Dino BBQ, Other Half Brewing, Three’s Brewing, Strong Rope Brewery, Four & Twenty Blackbirds, The Bell House, Table 87, Insa, Bison & Bourbon, Runner & Stone, Littleneck, and more. For more information, please inquire within
For More Information, Please Contact: Winfield Clifford Senior Director 718 606 7054 [email protected]
William Barrett Senior Associate 718 606 7047 [email protected]
Cushman & Wakefield One Pierrepont Plaza, 9th Fl. Brooklyn, NY 11201 phone: +1 718 238 8999 nyinvestmentsales.com
Cushman Copyright 2017. No warranty or representation, expressexpress or implied, made toisthe accuracy completeness of the information contained herein, and sameherein, is submitted subjectistosubmitted errors, omissions, of Cushman&&Wakefield Wakefield Copyright 2015. No warranty or representation, or is implied, made to theoraccuracy or completeness of the information contained and same subject change to errors, price, rental or other conditions, withdrawal without notice, and to anyexpress special listing conditions imposed by thelisting property owner(s).imposed Asthe applicable, weproperty make noowner(s). representation as to the condition of the (or properties) in question. Cushman & wakefield copyright 2015. Noother warranty or representation, or implied, isand made to thespecial accuracy or completeness of information contained herein, andAs same is submitted to property errors, omissions, change ofcondition price, omissions, change of price, rental or conditions, withdrawal without notice, to any conditions by the applicable, we subject make no representation as to the rental 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. of theorproperty (or properties) in question.
464 3rd Avenue, Brooklyn, NY GOWANUS MIXED-USE BUILDING
REVENUE Unit
Status
Type
SF
$ / SF
Monthly Rent
Annual Rent
COMMERCIAL
VACANT
Retail
1,200
$50.00
$5,000**
$60,000
1
FM
3BR
1,200
$25.00
$2,500
$30,000
2
FM
3BR
1,200
$26.20
$2,600
$31,200
$10,100
$121,200
TOTAL
3,600*
*assumes ~15% loss factor **projected commercial/retail rent
ACTUAL REVENUE Gross Income Vacancy & Collection Effective Gross Income
2.00%
$121,200 ($2,424) $118,776
ACTUAL EXPENSES Real Estate Taxes (17/18)
per NY Dept. of Finance
Insurance Fuel Common Area Electric Water & Sewer Repairs & Maintenance
$400 / Residential Unit Pass-through $0.25 / GSF $0.65 / GSF $500 / Residential Unit
Management & Reserve
3% / EGI
Total Annual Expenses
$5,643 $800 $0 $1,038 $2,698 $1,000 $3,563 $14,742
NET OPERATING INCOME Effective Gross Income Total Expenses
$118,776 ($14,742)
N.O.I.
$104,034
For More Information, Please Contact: Winfield Clifford Senior Director 718 606 7054 [email protected]
William Barrett Senior Associate 718 606 7047 [email protected]
Cushman & Wakefield One Pierrepont Plaza,9th Fl. Brooklyn, NY 11201 phone: +1 718 238 8999 nyinvestmentsales.com
Cushman Copyright 2017. No warranty or representation, expressexpress or implied, made toisthe accuracy completeness of the information contained herein, and sameherein, is submitted subjectistosubmitted errors, omissions, of Cushman&&Wakefield Wakefield Copyright 2015. No warranty or representation, or is implied, made to theoraccuracy or completeness of the information contained and same subject change to errors, price, rental or other conditions, withdrawal without notice, and to anyexpress special listing conditions imposed by thelisting property owner(s).imposed Asthe applicable, weproperty make noowner(s). representation as to the condition of the (or properties) in question. Cushman & wakefield copyright 2015. Noother warranty or representation, or implied, isand made to thespecial accuracy or completeness of information contained herein, andAs same is submitted to property errors, omissions, change ofcondition price, omissions, change of price, rental or conditions, withdrawal without notice, to any conditions by the applicable, we subject make no representation as to the rental 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. of theorproperty (or properties) in question.
