5568 6 $244k CENTRAL HARLEM - Agorafy

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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. February 9, 2015 1:26 PM

52 WEST 125TH STREET, NEW YORK, NY 10027 Four (4) Story, 6 Unit Central Harlem Mixed-use Building | FOR SALE

5,568

6

Gross SF

$244k

Units

Gross Income

CENTRAL HARLEM LOCATION

PROPERTY INFORMATION Location

The subject property is located on the south side of West 125th Street between 5th Avenue and Malcolm X Boulevard

Address

52 West 125th Street, New York, NY 10027

Block / Lot

1722 / 57

Stories

4

Number of Units

6

Residential Units

4

Retail Units

2

Zoning (FAR)

C6-3 / 125

Lot Dimensions

15.62' x 100.92'

Lot Size

1,576

Building Dimensions

16' x 87'

Building Size

5,568

Sq. Ft. (Approx.)

Air Rights

2,944

Sq. Ft. (Approx.) As-of-Right

Assessment (14/15)

$98,865

Taxes (14/15)

$12,996

(5.40)

Sq. Ft. (Approx.)

INVESTMENT HIGHLIGHTS

EXPENSES: (ESTIMATED)

Ariel Property has been retained on an exclusive basis to market 52 West 125th Street, a 16’ wide mixed-use walkup building located on the south side of West 125th Street between Lenox and Fifth Avenue. The building is comprised of four (4) residential units and two (2) commercial units. The commercial units will be delivered vacant. All four (4) residential units are studios earning free market rents of $1,200 per month. The C6-3/125 zoning of the asset permits approximately 8,512 buildable square feet. The property is situated just half a block from the 2 & 3 Train at the corner of 125th Street and Lenox Avenue, three blocks from Metro North Station at East 125th Street and Park Avenue, and four blocks from the 4,5,6 Trains at Lexington Avenue between East 124th and East 125th Street. 52 West 125th Street is located right along the bustling 125th Street corridor and surrounded by recent and upcoming developments that will add to the historic corridor’s dynamic feel. These include The Aloft Hotel, Harlem USA, The Victoria Theatre Development, the Taystee Building, and the future Whole Foods just half a block away at the corner of 125th Street and Lenox . The asset is also within close proximity to Columbia University and the City College of New York. Local attractions include Morningside Park and Marcus Garvey Park, which lies just one block south of the asset. 52 West 125th Street presents investors and owner-users with an opportunity to own a mixed-use asset along Harlem’s busiest commercial corridor

CURRENT ROLL

Real Estate Taxes (14/15)

$12,996

Water & Sewer

$3,000

Insurance

$2,200

Fuel

$9,744

Electric

$1,949

Cleaning & Maintenance

$3,000

Repairs

$1,800

Payroll

$3,900

Legal/Miscellaneous

$2,406

Management

Scheduled Gross Income:

$243,900

Cell Tower Income

$8,912

Less Vacancy Rate Reserve (5.0%):

($12,195)

Gross Operating Income:

$240,617

Less Expenses:

($50,619)

21%

% of SGI

Net Operating Income:

$189,997

4.47%

Cap Rate

$9,625

Gross Operating Expenses

Asking Price: $4,250,000 For More Information Please Contact Our Exclusive Sales Agents Victor Sozio

Michael A. Tortorici

Jesse Deutch

Josh Berkowitz

Matthew Gillis

212.544.9500 x.12

212.544.9500 x.13

212.544.9500 x.18

212.544.9500 x.41

212.544.9500 x.42

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

Ariel Property Advisors | Building Results | 122 East 42nd Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com

$50,619

Bx

100 7 98

3

4

HARLEM RIVER

FORT GERGE AV

HILLSIDE AV

PARK

4

OVERLOOK

3

TERRACE

HENRY HUDSON PARKWAY

The information contained herein has either been given to us by the owner of the property or obtained from sources that1we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of W 191 ST any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax brackA W 190 ST et, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify W 190 ST each item of income, and all other information contained herein. February 9, 2015 1:26 PM 101

BROADWAY

IN WASH

BENNETT AV

FORT

52 WEST 125TH STREET, NEW YORK, NY 10027 W 186 ST

YESHIVA UNIVERSITY

Bx

Bx

AUDUBON AV

W 168 ST

Bx

Actual Actual

2

Actual

$1,250

-

$1,200

-

R Bx

C 155 ST

6

98

FREDERICK DOUGLASS BLVD

7 102 1

Bx

19

W 145 ST

W 145 ST

GE RID 2 ST B 145 Bx19 to Botanical

W 146 ST

3

145 ST

135 ST B C

11

W 131 ST

125 ST

DR

104 Bx

15 MAR 15 TIN LUT H

BROADWAY

D

BROADWAY

MORNINGSIDE AV

FREDERICK DOUGLASS BLVD

AMSTERDAM AV

R D SIDE NING MOR

B C

4

GE 6

MUSEO DEL BARRIO MUSEUO OF THE CITY OF NEW YORK

103 ST

4

3

[email protected]

2

1

4

3 106

10

11

NORT JoshMEADOW Berkowitz

106

E 105 ST E 104 ST

6 103 ST 1

3

E 102 ST

W 100 ST

212.544.9500 x.41

[email protected]

[email protected]

W 97

W 97 ST

96 106

96 ST

1

2

W 96 ST

1

103 98

Matthew Gillis 101 102 103 98

E 97 ST

[email protected] 96 ST

CENTRAL PARK

96

E 96 ST

96

E

6 96 ST

3

V

AV

Ariel Property Advisors | Building Results | 122 East 42nd Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com OADWAY

E 100 ST

212.544.9500 x.42

96 106

B C 96 ST

101 102

3

4 106

212.544.9500 x.18

E 106 ST

E 106 ST

5 AV

[email protected]

Jesse Deutch

7

15

110 ST 1

FDR DRIVE

RIVERSIDE DR

212.544.9500 x.13

E 110 ST

E 110 ST

2

4 106

Michael A. Tortorici

JEFFERSON PARK

15 2

W 103 ST

103 ST

Victor Sozio

116

E 112 ST

W 112 ST

2 3

W 104 ST W 103 ST

11

E 116 ST

1

1

Central Park North (110 St)

B C 1 For More Information Please Contact Our Exclusive Sales Agents 7

116 ST

116

AV

Cathedral Pkwy (110 St)

DUKE ELINGTON BLVD W 106 ST

104

EAST HARLEM

98 101

102

W 105 ST

212.544.9500 x.12

E 120 ST

6

60

W 101 ST

100

101 103

116 102

7 116

116

E 125 ST

103

W 116 ST

2

7

ROBERT F. KE

15

AV

2 3

AS

W 116 ST

35

E 126 ST

E 124 ST

CENTRAL PARKDANA DISCOVERY CENTRAL NORTH HARLEM MEER RIVERSIDE LASKER Asking Price: $4,250,000 PARK RINK 5

15 35

MARCUS GARVEY PARK

116 St

OL

1

CH

3

B C

Bx15 to Fo Plaza via T

Bx

5

6

116

CATHEDRAL OF ST JOHN THE DIVINE

Cathedral Pkwy (110 St)

NI

W 113 ST

116 St

98

125 St

LAS AV

ST

MORNINGSIDE PARK

116 St Columbia University

ST NICHO

3

Bx15 from Fordham Plaza

O

W 122 ST

1

NORTH

Bx

100 101

STUDIO MUSEUM IN HARLEM

11 60

COLUMBIA UNIVERSITY

Bx

15

98

DR MARTIN LUTHER KING BLVD

10

60

1

60 15

2 3

Bx

W 120 ST

1

W 130 ST

METRO 4 Subject Property 125 ST

60 15 100 101

4 104

W 116 ST

135 ST

APOLLO THEATRE

B D 125 ST

BLV

THE BRONX

2 3

IN AD

GRANT’S TOMB

ING

6

Bx

33

L PA

CLARENONT AV

5

A C

104

ER K

TH

NOR 4 5

W 135 ST

HARLEM

W 129 ST

1

5

ST NICHOLAS PARK

100 101

5

MANHATTAN AV

RIVERSIDE DR

W 135 ST

33

RID

Bx

33

RO

MET

Bx

1

W 137 ST

GE

RID

AV B

VB

WESLEY LOCATIONWILLIAMS MAP PL

SCHOMBURG CENTRE

MADISON AV

3D VIEW

CITY COLLEGE

IS MAD

3A

ILTO N

HAM

1

137 ST CITY COLLEGE

LAS AV

W 137 ST

ON

W 139 ST

W 139 ST

LENOX AV

PL

ST NICHO

West 124 Street th

102 7

2

10

100 101

ADAM CLAYTON POWELL JR BLVD (7 AVENUE)

5

4

CONVENT AV

11

RIVERBANK STATE PARK

Garden via Southern Blvd

5 AV

W 143 ST

MT MORRIS PARK W

Bx

11 19

GE

1

B D

RID

A C

W 147 ST

PLEASANT AV

BRADHURST AV

EDGECOMBE AV

DR

AMSTERDAM AV

ER

3

RIV

57

EM

145 ST 19

Harlem 148 St

W 150 ST

1722

W 147 ST Bx

RL

3

HA

S AV

HOLA

BROADWAY

ST NIC

JACKIE ROBINSON PARK

W 150 ST West 125 Street

th

Bx6 to Hunts Pt Food Ctr via Yankee Stadium

VB

IDE D

B D W 155 ST

IS A

RIVERS

157 ST

6

6

D

S B MB GE CO ID MA M BR A D

10

2

WI LL

3 100

1 W 157 ST

$243,900

1 AV

DR

Bx

$20,325

ER D

168 ST Amsterdam Av

5

AUDUBON TERRACE

Malcolm X Boulevard

-

2 AV

MORRIS-JUMEL MANSION

W 163 ST

101

TAX MAP

-

3 AV

IDE

$1,250 $1,300

LEXINGTON AV

ERS

-

HARLE M RIV

RIV

-

$3,000

W 165 ST 3

C

Total # of Units

$12,325

W 166 ST

7

4

Total Annual Rent

Lease Expiration

RIVE

Total Monthly Rent

Monthly Rent

HARLEM RIVER DR

Actual

1

N AV NGTO WASHI

Studio

Projected

A C Washington hts 168 St FORT

Studio

Projected

101

DR

4F 4R

7

100

IDE

Studio

ERS RIV

Studio

Bx

AV

3F

5

PARK

AMSTERDAM AV

4

Comm

3R

Y

WASHINGTON Comm HEIGHTS HAVEN

2nd Floor Retail

Current Rents Actual/Projected HIGHBRIDGE

W 175 ST

ST NICHOLAS AV

LITTLE RED LIGHTHOUSE

Bx3 Riverdale 238 St - Bway Bx11 to West Farm Rd via 170 St Bx13 to Yankee Stadium via Odgen Av Bx35 to West Farms Rd via 167 St Bx36 to Olmstead Av/Randall Av via 180 St

3

A

DWA

R

NB GTO

ASHIN GE W

W 177 ST

GRORGE WASHINGTON BRIDGE BUS STATION

Type

IDGE

WASHINGTON BRIDGE

Bx

3

98

W 178 ST

98

A BRO

Unit

Bx

Bx

PARK AV

Bx

35 3

W 179 ST W 178 ST

FORT WASHINGTON PARK

Bx

36

W 179 ST

5th Avenue

36

Bx

11 13 35

W 180 ST

Bx

11 13

SCHEDULED INCOME

Ground Floor Retail

1 181 ST

EDGECOMBE AV

D

181 ST A W Bx

R GEO

WADSWORTH AV

I BLV RIN

AV

CAB

N GTO

Four (4) Story, 6 Unit Central Harlem Mixed-use Building | FOR SALE

E 94 ST 31 86