760-764 MANHATTAN AVENUE Greenpoint, Brooklyn - Agorafy
760-764 MANHATTAN AVENUE Greenpoint, Brooklyn FOR SALE
Mixed-Use Buildings in Greenpoint Two Buildings | One Lot | 150’ of retail frontage
764 MANHATTAN AVENUE
760 MANHATTAN AVENUE
PROPERTY FEATURES
BUILDING FEATURES
760-764 Manhattan Avenue is a unique offering of a mixed use building and a two story commercial building on one tax lot located on Greenpoint’ s premiere retail corridor, Manhattan Avenue. The 15,500 SF property includes a total of 6 commercial units and 9 residential units (six free market and three rent stabilized) with 100’ of frontage on Manhattan Avenue where retail rents have reached upwards of $100 / SF. Commercial tenants include a Law Office, N & J Stationary, Optical, GNC, Radio Shack & one vacant space.
AREA MAP Greenpoint Avenue G Train Station G
New York New York
Greenpoint 760-764 Manhattan Avenue
Nassau Avenue G Train Station G
Bedford Avenue L Train Station L
Williamsburg
764 MANHATTAN
760 MANHATTAN
LOCATION
Located on the southeast corner of Manhattan Avenue and Meserole Avenue
BLOCK / LOT
2620 / 1
LOT DIMENSIONS
50’ x 100’
BUILDING DIMENSIONS
50’ x 75’
25’ x 50’
STORIES
4
2
COMMERCIAL UNITS
4
2
RESIDENTIAL UNITS
9
0
COMBINED BUILDING S.F.
15,500
ZONING
C4-3A (R6A equivalent)
RESIDENTIAL FAR
3.00
COMMERCIAL FAR
3.00
LOT SIZE
5,000
TOTAL BSF
15,000
ASSESSMENT (15/16)
$562,590
TAXES (15/16)
$72,478
2620 / 1
FOR MORE INFORMATION, PLEASE CONTACT: Brendan T. Maddigan Director (718) 307 6507
[email protected]
Mark L. Lively Associate Director (718) 307 6524
[email protected]
Ethan S. Stanton Senior Associate (718) 307 6553
[email protected]
Taylor A. Wos Associate (718) 307 6506
[email protected]
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brookyn, NY 11201 [email protected] nyinvestmentsales.com Michael L. Gigante Associate (718) 307 6555
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) 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 Cushman & Wakefield or its client.
760-764 MANHATTAN AVENUE
<XXX> SF CUSHMAN & WAKEFIELD AVAILABLE (3 LINES MAXIMUM)
Mixed-Use Buildings in Greenpoint for Sale PROJECTED REVENUE Unit 764 Manhattan Avenue Retail Retail Retail Retail SUBTOTAL 2A 2B 2C 3A 3B 3C 4A 4B 4C SUBTOTAL
Tenant / Type
S.F.
$ / S.F.
GNC N&J Optical Law Office
1,211 330 1,247 360 3,148 1,200 800 850 1,200 800 850 1,200 800 850 8,550
$64.99 $101.20 $71.48 $41.20 $68.64 $41.00 $43.50 $5.38 $43.50 $10.53 $5.39 $43.50 $48.00 $45.18 $33.07
1,050 950
$64.07 $47.56
2,000
$56.23
Free Market Free Market Stabilized Free Market Stabilized Stabilized Free Market Free Market Free Market
760 Manhattan Avenue Retail Commercial
Radio Shack Vacant
SUBTOTAL
Lease Expires September-16 (1) January-19 March-21 December-18 June-16 May-16 July-15 August-16 July-17 July-17 November-15 June-16 June-16
January-18 N/A
Monthly
Annual
$6,559 $2,783 $7,428 $1,236 $18,006 $4,100 $2,900 $380.82 $4,350 $702 $381.93 $4,350 $3,200 $3,200 $23,565
$78,708 $33,396 $89,136 $14,832 $216,072 $49,200 $34,800 $4,570 $52,200 $8,424 $4,583 $52,200 $38,400 $38,400 $282,777
$5,606 $3,765
$67,272 $45,180
$9,371
$112,452
Passthroughs Commercial Tenants pay portion of the tax bill & Insurance Bill COMBINED TOTAL
13,698
$4,354
$52,250
$55,296
$663,551
Projected due to occupancy status (1) GNC has the option to renew for another five years
EXPENSES Real Estate Taxes (15/16)
$
72,478
Water/Sewer
$
1,142
Insurance
$
16,135
Heat (Oil)
$
21,671
Common Electric
$
2,943
Repairs & Maintenance (3%)
$
19,907
Management & Vacancy Loss (5%)
$
33,178
Total:
$
167,454
Gross Annual Income:
$
663,551
25% $
167,454
$
496,097
Less Expenses: Net Operating Income:
ASKING PRICE
$11,500,000 FOR MORE INFORMATION, PLEASE CONTACT: Brendan T. Maddigan Director (718) 307 6507
[email protected]
Mark L. Lively Associate Director (718) 307 6524
[email protected]
Ethan S. Stanton Senior Associate (718) 307 6553
[email protected]
Taylor A. Wos Associate (718) 307 6506
[email protected]
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brookyn, NY 11201 [email protected] nyinvestmentsales.com Michael L. Gigante Associate (718) 307 6555
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) 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 Cushman & Wakefield or its client.
Mixed-Use Buildings in Greenpoint Two Buildings | One Lot | 150’ of retail frontage
764 MANHATTAN AVENUE
760 MANHATTAN AVENUE
PROPERTY FEATURES
BUILDING FEATURES
760-764 Manhattan Avenue is a unique offering of a mixed use building and a two story commercial building on one tax lot located on Greenpoint’ s premiere retail corridor, Manhattan Avenue. The 15,500 SF property includes a total of 6 commercial units and 9 residential units (six free market and three rent stabilized) with 100’ of frontage on Manhattan Avenue where retail rents have reached upwards of $100 / SF. Commercial tenants include a Law Office, N & J Stationary, Optical, GNC, Radio Shack & one vacant space.
AREA MAP Greenpoint Avenue G Train Station G
New York New York
Greenpoint 760-764 Manhattan Avenue
Nassau Avenue G Train Station G
Bedford Avenue L Train Station L
Williamsburg
764 MANHATTAN
760 MANHATTAN
LOCATION
Located on the southeast corner of Manhattan Avenue and Meserole Avenue
BLOCK / LOT
2620 / 1
LOT DIMENSIONS
50’ x 100’
BUILDING DIMENSIONS
50’ x 75’
25’ x 50’
STORIES
4
2
COMMERCIAL UNITS
4
2
RESIDENTIAL UNITS
9
0
COMBINED BUILDING S.F.
15,500
ZONING
C4-3A (R6A equivalent)
RESIDENTIAL FAR
3.00
COMMERCIAL FAR
3.00
LOT SIZE
5,000
TOTAL BSF
15,000
ASSESSMENT (15/16)
$562,590
TAXES (15/16)
$72,478
2620 / 1
FOR MORE INFORMATION, PLEASE CONTACT: Brendan T. Maddigan Director (718) 307 6507
[email protected]
Mark L. Lively Associate Director (718) 307 6524
[email protected]
Ethan S. Stanton Senior Associate (718) 307 6553
[email protected]
Taylor A. Wos Associate (718) 307 6506
[email protected]
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brookyn, NY 11201 [email protected] nyinvestmentsales.com Michael L. Gigante Associate (718) 307 6555
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) 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 Cushman & Wakefield or its client.
760-764 MANHATTAN AVENUE
<XXX> SF CUSHMAN & WAKEFIELD AVAILABLE (3 LINES MAXIMUM)
Mixed-Use Buildings in Greenpoint for Sale PROJECTED REVENUE Unit 764 Manhattan Avenue Retail Retail Retail Retail SUBTOTAL 2A 2B 2C 3A 3B 3C 4A 4B 4C SUBTOTAL
Tenant / Type
S.F.
$ / S.F.
GNC N&J Optical Law Office
1,211 330 1,247 360 3,148 1,200 800 850 1,200 800 850 1,200 800 850 8,550
$64.99 $101.20 $71.48 $41.20 $68.64 $41.00 $43.50 $5.38 $43.50 $10.53 $5.39 $43.50 $48.00 $45.18 $33.07
1,050 950
$64.07 $47.56
2,000
$56.23
Free Market Free Market Stabilized Free Market Stabilized Stabilized Free Market Free Market Free Market
760 Manhattan Avenue Retail Commercial
Radio Shack Vacant
SUBTOTAL
Lease Expires September-16 (1) January-19 March-21 December-18 June-16 May-16 July-15 August-16 July-17 July-17 November-15 June-16 June-16
January-18 N/A
Monthly
Annual
$6,559 $2,783 $7,428 $1,236 $18,006 $4,100 $2,900 $380.82 $4,350 $702 $381.93 $4,350 $3,200 $3,200 $23,565
$78,708 $33,396 $89,136 $14,832 $216,072 $49,200 $34,800 $4,570 $52,200 $8,424 $4,583 $52,200 $38,400 $38,400 $282,777
$5,606 $3,765
$67,272 $45,180
$9,371
$112,452
Passthroughs Commercial Tenants pay portion of the tax bill & Insurance Bill COMBINED TOTAL
13,698
$4,354
$52,250
$55,296
$663,551
Projected due to occupancy status (1) GNC has the option to renew for another five years
EXPENSES Real Estate Taxes (15/16)
$
72,478
Water/Sewer
$
1,142
Insurance
$
16,135
Heat (Oil)
$
21,671
Common Electric
$
2,943
Repairs & Maintenance (3%)
$
19,907
Management & Vacancy Loss (5%)
$
33,178
Total:
$
167,454
Gross Annual Income:
$
663,551
25% $
167,454
$
496,097
Less Expenses: Net Operating Income:
ASKING PRICE
$11,500,000 FOR MORE INFORMATION, PLEASE CONTACT: Brendan T. Maddigan Director (718) 307 6507
[email protected]
Mark L. Lively Associate Director (718) 307 6524
[email protected]
Ethan S. Stanton Senior Associate (718) 307 6553
[email protected]
Taylor A. Wos Associate (718) 307 6506
[email protected]
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor Brookyn, NY 11201 [email protected] nyinvestmentsales.com Michael L. Gigante Associate (718) 307 6555
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) 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 Cushman & Wakefield or its client.
