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