622 myrtle avenue - Agorafy
622 MYRTLE AVENUE BEDFORD-STUYVESANT, BROOKLYN, NY
Mixed-Use Building With Additional Air Rights
FOR SALE
9,384 Buildable SF + IH Bonus
BUILDING DETAILS LOCATION
South side of Myrtle Ave. between Kent and Franklin Avenues
BLOCK & LOT
1912 / 22
ZONING
R7A / C2-4
LOT DIMENSIONS
24.5’ x 111.75’
(Approx.)
LOT SIZE
2,720
(Approx.)
GROUND FLOOR
24.5’ x 111.75’
(Approx.)
SECOND & THIRD FLOOR
24.5’ x 50’
(Approx.)
BUILDING SF
5,188
(Approx.)
STORIES
3 + Cellar
UNITS
2 Residential Units / 1 Retail Unit
ASSESSMENT (‘15/’16)
$19,353
BASIC STAR EXEMPTION
-$302
TAXES (‘15/’16)
$3,405
DEVELOPMENT
AS-OF-RIGHT
INCLUSIONARY
FAR
3.45
4.60
TOTAL BUILDABLE SF
9,384
12,512
ADDITIONAL AIR RIGHTS
4,196
7,324
PROPERTY DESCRIPTION - Mixed-use building with significant air rights located on Myrtle Avenue between Kent Avenue and Franklin Avenue, near the border of Clinton Hill.. - Powerful retail space with 18’ ceilings, mezzanine space, and sky lights. The space is currently vacant and available for a new retailer or end user.
PROJECTED INCOME (Existing Structure) EFFECTIVE GROSS INCOME:
$174,000
LESS EXPENSES
$26,364
NET OPERATING INCOME
$147,636
ASKING PRICE
- Pratt Institute is just 3 blocks away and the G train is 5 blocks away with direct access to Downtown Brooklyn and Williamsburg.
$2,800,000
FOR MORE INFORMATION, PLEASE CONTACT: Michael Amirkhanian Executive Director (718) 606-7073 [email protected]
DJ Johnston Associate Director (718) 307-6515 [email protected]
CUSHMAN & WAKEFIELD Robert Moore Associate Director (718) 606-7046 [email protected]
William Cheng Associate Director (718) 606-7037 [email protected]
205 Montague Street, 3rd Floor Bryan Kirk Brooklyn, NY 11201 Associate (718) 307-6516 nyinvestmentsales.com Bryan [email protected]
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.)
622 MYRTLE AVENUE
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
Mixed-Use Building with Additional Air Rights For Sale PROJECTED RENTS
Unit
Net SF
$/SF
$/Mo.
$/Yr.
GROUND FLOOR 2nd FLOOR 3rd FLOOR TOTAL
Retail 3 BR 3 BR
2,591 1,103 1,103 4,796
$35.00 $38.00 $38.00 $36.28
$7,500 $3,500 $3,500 $14,500
$90,000 $42,000 $42,000 $174,000
PROJECTED EXPENSES
C & W Metrics
Expense
/ SF
/ Unit
REAL ESTATE TAXES INSURANCE WATER / SEWER GAS HEAT COMMON ELECTRIC REPAIRS / MAINTENANCE SUPERINTENDENT VACANCY & MANAGEMENT TOTAL
Dept. of Finance $500 / Unit $0.75 / Sq. Ft. Tenants Pay $0.20 / Sq. Ft. $450 / Unit $250 / Month 7.00% of EGI
$3,405 $1,500 $3,891 --$1,038 $1,350 $3,000 $12,180 $26,364
$0.66 $0.29 $0.75 --$0.20 $0.26 $0.58 $2.35 $5.08
$1,135 $500 $1,297 --$346 $450 $1,000 $4,060 $8,788
PROJECTED NET INCOME EFFECTIVE GROSS INCOME: LESS EXPENSES NET OPERATING INCOME
$174,000 $26,364 $147,636
622 Myrtle Avenue
G
G G G
ASKING PRICE: $2,800,000 FOR MORE INFORMATION, PLEASE CONTACT: Michael Amirkhanian Executive Director (718) 606-7073 [email protected]
DJ Johnston Associate Director (718) 307-6515 [email protected]
CUSHMAN & WAKEFIELD Robert Moore Associate Director (718) 606-7046 [email protected]
William Cheng Associate Director (718) 606-7037 [email protected]
205 Montague Street, 3rd Floor Bryan Kirk Brooklyn, NY 11201 Associate (718) 307-6516 nyinvestmentsales.com Bryan [email protected]
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.)
622 MYRTLE AVENUE Mixed-Use Building with Additional Air Rights For Sale
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
ASKING PRICE: $2,800,000 FOR MORE INFORMATION, PLEASE CONTACT: Michael Amirkhanian Executive Director (718) 606-7073 [email protected]
DJ Johnston Associate Director (718) 307-6515 [email protected]
CUSHMAN & WAKEFIELD Robert Moore Associate Director (718) 606-7046 [email protected]
William Cheng Associate Director (718) 606-7037 [email protected]
205 Montague Street, 3rd Floor Bryan Kirk Brooklyn, NY 11201 Associate (718) 307-6516 nyinvestmentsales.com Bryan [email protected]
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.)
Mixed-Use Building With Additional Air Rights
FOR SALE
9,384 Buildable SF + IH Bonus
BUILDING DETAILS LOCATION
South side of Myrtle Ave. between Kent and Franklin Avenues
BLOCK & LOT
1912 / 22
ZONING
R7A / C2-4
LOT DIMENSIONS
24.5’ x 111.75’
(Approx.)
LOT SIZE
2,720
(Approx.)
GROUND FLOOR
24.5’ x 111.75’
(Approx.)
SECOND & THIRD FLOOR
24.5’ x 50’
(Approx.)
BUILDING SF
5,188
(Approx.)
STORIES
3 + Cellar
UNITS
2 Residential Units / 1 Retail Unit
ASSESSMENT (‘15/’16)
$19,353
BASIC STAR EXEMPTION
-$302
TAXES (‘15/’16)
$3,405
DEVELOPMENT
AS-OF-RIGHT
INCLUSIONARY
FAR
3.45
4.60
TOTAL BUILDABLE SF
9,384
12,512
ADDITIONAL AIR RIGHTS
4,196
7,324
PROPERTY DESCRIPTION - Mixed-use building with significant air rights located on Myrtle Avenue between Kent Avenue and Franklin Avenue, near the border of Clinton Hill.. - Powerful retail space with 18’ ceilings, mezzanine space, and sky lights. The space is currently vacant and available for a new retailer or end user.
PROJECTED INCOME (Existing Structure) EFFECTIVE GROSS INCOME:
$174,000
LESS EXPENSES
$26,364
NET OPERATING INCOME
$147,636
ASKING PRICE
- Pratt Institute is just 3 blocks away and the G train is 5 blocks away with direct access to Downtown Brooklyn and Williamsburg.
$2,800,000
FOR MORE INFORMATION, PLEASE CONTACT: Michael Amirkhanian Executive Director (718) 606-7073 [email protected]
DJ Johnston Associate Director (718) 307-6515 [email protected]
CUSHMAN & WAKEFIELD Robert Moore Associate Director (718) 606-7046 [email protected]
William Cheng Associate Director (718) 606-7037 [email protected]
205 Montague Street, 3rd Floor Bryan Kirk Brooklyn, NY 11201 Associate (718) 307-6516 nyinvestmentsales.com Bryan [email protected]
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.)
622 MYRTLE AVENUE
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
Mixed-Use Building with Additional Air Rights For Sale PROJECTED RENTS
Unit
Net SF
$/SF
$/Mo.
$/Yr.
GROUND FLOOR 2nd FLOOR 3rd FLOOR TOTAL
Retail 3 BR 3 BR
2,591 1,103 1,103 4,796
$35.00 $38.00 $38.00 $36.28
$7,500 $3,500 $3,500 $14,500
$90,000 $42,000 $42,000 $174,000
PROJECTED EXPENSES
C & W Metrics
Expense
/ SF
/ Unit
REAL ESTATE TAXES INSURANCE WATER / SEWER GAS HEAT COMMON ELECTRIC REPAIRS / MAINTENANCE SUPERINTENDENT VACANCY & MANAGEMENT TOTAL
Dept. of Finance $500 / Unit $0.75 / Sq. Ft. Tenants Pay $0.20 / Sq. Ft. $450 / Unit $250 / Month 7.00% of EGI
$3,405 $1,500 $3,891 --$1,038 $1,350 $3,000 $12,180 $26,364
$0.66 $0.29 $0.75 --$0.20 $0.26 $0.58 $2.35 $5.08
$1,135 $500 $1,297 --$346 $450 $1,000 $4,060 $8,788
PROJECTED NET INCOME EFFECTIVE GROSS INCOME: LESS EXPENSES NET OPERATING INCOME
$174,000 $26,364 $147,636
622 Myrtle Avenue
G
G G G
ASKING PRICE: $2,800,000 FOR MORE INFORMATION, PLEASE CONTACT: Michael Amirkhanian Executive Director (718) 606-7073 [email protected]
DJ Johnston Associate Director (718) 307-6515 [email protected]
CUSHMAN & WAKEFIELD Robert Moore Associate Director (718) 606-7046 [email protected]
William Cheng Associate Director (718) 606-7037 [email protected]
205 Montague Street, 3rd Floor Bryan Kirk Brooklyn, NY 11201 Associate (718) 307-6516 nyinvestmentsales.com Bryan [email protected]
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.)
622 MYRTLE AVENUE Mixed-Use Building with Additional Air Rights For Sale
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
ASKING PRICE: $2,800,000 FOR MORE INFORMATION, PLEASE CONTACT: Michael Amirkhanian Executive Director (718) 606-7073 [email protected]
DJ Johnston Associate Director (718) 307-6515 [email protected]
CUSHMAN & WAKEFIELD Robert Moore Associate Director (718) 606-7046 [email protected]
William Cheng Associate Director (718) 606-7037 [email protected]
205 Montague Street, 3rd Floor Bryan Kirk Brooklyn, NY 11201 Associate (718) 307-6516 nyinvestmentsales.com Bryan [email protected]
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.)
