8532 24 25' x 56' AlphAbet City
Theinformationcontainedhereinhaseitherbeengiventousbytheownerofthepropertyorobtainedfromsourcesthatwedeemreliable.Wehavenoreasontodoubtitsaccuracybutwedonotguaranteetheaccuracyofany 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. October 12, 2015 12:15 PM
531 East 6th Street, New York, NY 10009 Five (5) Story, 24 Unit Alphabet City Walk-Up Building | FOR SALE
8,532
24
Gross SF
25' x 56' Alphabet City
Units
Building Dimensions
Location
Property Information Address
531 East 6th Street, New York, NY 10009
Location
North side of East 6th Street between Avenue A and Avenue B
Block / Lot
402 / 50
Stories
5
Number of Units
24
Zoning (FAR)
R7B
Lot Dimensions
25' x 90.83'
(3.00)
Lot Size
2,272
Building Dimensions
25' x 56'
Building Size
8,532
Assessment (15/16)
$769,230
Taxes (15/16)
$98,885
Sq. Ft. (Approx.) Sq. Ft. (Approx.)
Investment Highlights Ariel Property Advisors presents 531 East 6th Street, a 25’ wide, five story walk-up building located in a prime Alphabet City location between Avenue A and Avenue B. The property consists of approximately 8,532 gross square feet, and contains twenty-four (24) units, all of which are studio apartments. Thirteen (13) of the units enjoy free market status and the remaining eleven (11) units are rent-stabilized. 531 East 6th Street is steps away from Tompkins Square Park, which is surrounded by trendy restaurants, shops and nightlife. In close proximity to NYU, SVA, Parsons the New School, and Cooper Union, the property attracts and is home to students from each. Convenient access to public transportation is provided by the 6 train on East 8th Street and Lafayette, and the F train on the corner of 2nd Avenue and East Houston. With renovated units in the area achieving rents north of $80 per square foot, 531 East 6th Street provides investors with strong current cash-flow and significant rental upside in a rapidly appreciating area.
Current Roll Scheduled Gross Income:
$453,515
Less Vacancy Rate Reserve (1.0%):
($4,535)
EXPENSES: (ESTIMATED) Real Estate Taxes (15/16)
$98,885
Water & Sewer
$16,800
Insurance
$12,000
Fuel
$14,931
Electric
$2,986
Repairs & Maintenance
$7,200
Payroll
$6,000
Legal/Miscellaneous
$4,490
Gross Operating Income:
$448,980
Less Expenses:
($176,761)
39%
% of SGI
Management
$13,469
$272,219
3.63%
Cap Rate
Gross Operating Expenses
$176,761
Net Operating Income:
Asking Price: $7,500,000 For More Information Please Contact Our Exclusive Sales Agents Michael A. Tortorici
Jesse Deutch
Victor Sozio
Shimon Shkury
Howard Raber, Esq.
212.544.9500 x13
212.544.9500 x18
212.544.9500 x12
212.544.9500 x11
212.544.9500 x23
[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
Theinformationcontainedhereinhaseitherbeengiventousbytheownerofthepropertyorobtainedfromsourcesthatwedeemreliable.Wehavenoreasontodoubtitsaccuracybutwedonotguaranteetheaccuracyofany 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. October 12, 2015 12:15 PM
531 East 6th Street, New York, NY 10009 Five (5) Story, 24 Unit Alphabet City Walk-Up Building | FOR SALE Rent Roll Unit
Unit Type
Status
Legal Rent
Monthly Rent
Lease Expiration
Lease Expiration
A1
Studio
RS-Pref
$2,124
$1,700
10/31/2016
10/31/2016
A2
Studio
FM
-
$1,667
8/31/2016
8/31/2016
A3
Studio
FM
-
$1,616
5/14/2016
5/14/2016
A4
Studio
FM
-
$1,601
-
-
B1
Studio
RS
-
$1,950
Projected
Projected
B2
Studio
RS
$1,023
$1,023
6/30/2017
6/30/2017
B3
Studio
FM
-
$1,742
2/29/2016
2/29/2016
B4
Studio
RS
$744
$744
12/31/2015
12/31/2015
C1
Studio
RS-Pref
$2,884
$1,895
5/14/2016
5/14/2016
C2
Studio
FM
-
$1,831
9/30/2016
9/30/2016
C3
Studio
FM
-
$1,900
10/31/2016
10/31/2016 9/30/2017
C4
Studio
RS
$891
$891
9/30/2017
D1
Studio
RS-Pref
$1,741
$1,727
1/14/2016
1/14/2016
D2
Studio
FM
-
$1,869
6/14/2016
6/14/2016
D3
Studio
RS-Pref
$2,327
$1,818
8/31/2016
8/31/2016
D4
Studio
FM
-
$1,750
10/31/2016
10/31/2016 2/29/2016
E1
Studio
FM
-
$1,742
2/29/2016
E2
Studio
RS
$698
$698
5/31/2017
5/31/2017
E3
Studio
FM
-
$1,717
11/30/2015
11/30/2015
E4
Studio
RS-Pref
$2,312
$1,750
1/14/2016
1/14/2016
F1
Studio
RS-Pref
$631
$460
6/14/2017
6/14/2017
F2
Studio
FM
-
$1,895
5/31/2016
5/31/2016
F3
Studio
FM
-
$1,950
Projected
Projected
F4
Studio
FM
-
$1,858
9/30/2016
9/30/2016
Total Monthly Rent
$37,793
Total Annual Rent
$453,515
Total # of Units
24
Asking Price: $7,500,000 For More Information Please Contact Our Exclusive Sales Agents Michael A. Tortorici
Jesse Deutch
Victor Sozio
Shimon Shkury
Howard Raber, Esq.
212.544.9500 x13
212.544.9500 x18
212.544.9500 x12
212.544.9500 x11
212.544.9500 x23
[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
E M 5 Av / 53 St
5
Q
Av / 53 St
PARK
USEUM OF ODERN ART
32
E M E 53 ST
E 53 SThereinhaseitherbeengiventousbytheownerofthepropertyorobtainedfromsourcesthatwedeemreliable.Wehavenoreasontodoubtitsaccuracybutwedonotguaranteetheaccuracyofany Theinformationcontained E Mused herein are an arbitrary percentage used only as an information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors example, and does not necessarily relate 6 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 51 St and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. October 12, 2015 12:15 PM
RADIO CITY
50
E 50 ST 50
E 49 ST 531 East 6th Street, New York, NY 10009
50
103
Tax Map Grand Central 42 St
Q
METRO NORTH
7 42
NEW YORK PUBLIC LIBRARY5
7
42
E 42 ST
4 5
S
MIDTOWN OUTH CENTRAL) 2
PARK AV
MADISON AV
MORGAN LIBRARY EMPIRE STATE BUILDING
ATH
Q
E 36 ST 34
34 34 A
E 34 St PIER East River Ferry NY Water Taxi Ferries to NJ
33 ST
6
HELIPORT East 6th Street
E 33 ST 101 102
3d View
101 102 103
28 St
6
28 St
E 29 ST
M34A
E 28 ST
M15
N R
WATERSIDE PLAZA
E 26 ST
E 24 ST
23 St
6
15
E 14 ST
4 5 6 14 St
1 AV
2 AV
3 AV
4 AV
14 D
E 10 ST 8
ST MARKS PL
8
6
8 St - NYU
Astor Pl
N R
THE COOPER UNION
5
LAFAYETTE ST
101 102
BLEECKER ST
9
EAST RIVER PARK
E 5 ST
14 D
E 3 ST 21
14 A
E 2 ST
9
21
HOUSTON ST
Asking Price:E $7,500,000
6 Bleecker St
E 1 ST
SBS
STANTON ST
ALLEN ST
ST CHRYSTIE
RY BOWE
ST
MOTT
E RG BRIDG ILLIAMSBU W J Z Howard Raber, Esq. M 212.544.9500 x23
LOWE [email protected] SIDE EAST Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
Z
21
[email protected]
PITT ST
T ERRY S MULB
Shimon Shkury LEWIS ST
BROADWAY
ST 14 D
212.544.9500 x11
[email protected] F J
ST DELANCEY ST
212.544.9500 x12
MndEssex St Property Advisors | Building Results |BR122 ST 42 J Z OOMEEast Bowery
RIVINGTON
ST
[email protected]
CLINTON
Spring St
Victor Sozio ST
6 [email protected]
Jesse Deutch 212.544.9500 x18
NORFOLK
R Tortorici N A. Michael
SOHO 212.544.9500 x13
stop only
ST SUFFOLK
B D BroadwayLafayette St F M
FDR DRIVE
F
14 D 21
SouthFor More Information Please Contact Our Exclusive Sales Agents 2 Avenue bound
Prince St
BROOME Ariel ST
8
E 7 ST
EAST VILLAGE E 4 ST
103
21
SPRING ST
TOMPKINS SQUARE Subject Property PARK
E 9 ST
AVENUE A
E 8 ST
WHOSTON ST
BROADWAY
SULLIVAN ST
THOMPSON ST
14 A
8
GREENWICH VILLAGE
PRINCE ST
E 11 ST
COLUMBIA
MAC DOUGAL ST
2
1 Avenue
3 Avenue
ESSEX ST
CAS
E
5
1
L
L
15
3
WASHINGTON SQUARE NYU PARK
W 3 ST
g St
2
3
LA GUARDIA PL
W 4 ST
1
L
Union Sq
Y BWA
5 AV
UNIVERSITY PL
R
8
R
STUYVESANT SQUARE PARK
E 16 ST
N Q
W 8 ST
IVE
9
STUYVESANT TOWN
14 A 14 D
W 9 ST
E
AY
E 18 ST 2
W 14 ST
ATH
23
9
103
PATH
L
RIV
E 20 ST
E 20 ST
101 102
3 UNION SQUARE PARK Location map
14 St Union Sq
RD
PARK AV SOUTH
23
PETER COOPER VILLAGE
GRAMERCY PARK
1
W 17 ST
9
FD
ADW
BRO
5
TR
23 St
3
E 23 ST
BARUCH COLLEGE
N R
2
34 A
23
E 23 ST
1
34 A
E 25 ST
EAS
PATH
LIRR, AMTRAK
34 A
34 A 15
103
MADISON SQUARE PARK
50
E 34 ST
4
32
E 38 ST
AVENUE D
N Q
4 St erald Sq
42
AVENUE C
D F
402
Avenue A
Q
32
7
East 7th Street
E 41 ST
6
3
1 4
UNITED NATIONS
E 44 ST
AVENUE B
32
FDR DRIVE
5
15
15
1 AV
2
2 AV
3
3 AV
1 4
E 47 ST
GRAND CENTRAL TERMINAL
LEXINGTON AV
5 Av
ST 101 102 Five (5) Story, 24 UnitE 48Alphabet City Walk-Up Building | FOR SALE
101 102 103
Avenue B
ROCKEFELLER CENTER
Delancey St
14 A
14 A 22
GRAND ST
J
531 East 6th Street, New York, NY 10009 Five (5) Story, 24 Unit Alphabet City Walk-Up Building | FOR SALE
8,532
24
Gross SF
25' x 56' Alphabet City
Units
Building Dimensions
Location
Property Information Address
531 East 6th Street, New York, NY 10009
Location
North side of East 6th Street between Avenue A and Avenue B
Block / Lot
402 / 50
Stories
5
Number of Units
24
Zoning (FAR)
R7B
Lot Dimensions
25' x 90.83'
(3.00)
Lot Size
2,272
Building Dimensions
25' x 56'
Building Size
8,532
Assessment (15/16)
$769,230
Taxes (15/16)
$98,885
Sq. Ft. (Approx.) Sq. Ft. (Approx.)
Investment Highlights Ariel Property Advisors presents 531 East 6th Street, a 25’ wide, five story walk-up building located in a prime Alphabet City location between Avenue A and Avenue B. The property consists of approximately 8,532 gross square feet, and contains twenty-four (24) units, all of which are studio apartments. Thirteen (13) of the units enjoy free market status and the remaining eleven (11) units are rent-stabilized. 531 East 6th Street is steps away from Tompkins Square Park, which is surrounded by trendy restaurants, shops and nightlife. In close proximity to NYU, SVA, Parsons the New School, and Cooper Union, the property attracts and is home to students from each. Convenient access to public transportation is provided by the 6 train on East 8th Street and Lafayette, and the F train on the corner of 2nd Avenue and East Houston. With renovated units in the area achieving rents north of $80 per square foot, 531 East 6th Street provides investors with strong current cash-flow and significant rental upside in a rapidly appreciating area.
Current Roll Scheduled Gross Income:
$453,515
Less Vacancy Rate Reserve (1.0%):
($4,535)
EXPENSES: (ESTIMATED) Real Estate Taxes (15/16)
$98,885
Water & Sewer
$16,800
Insurance
$12,000
Fuel
$14,931
Electric
$2,986
Repairs & Maintenance
$7,200
Payroll
$6,000
Legal/Miscellaneous
$4,490
Gross Operating Income:
$448,980
Less Expenses:
($176,761)
39%
% of SGI
Management
$13,469
$272,219
3.63%
Cap Rate
Gross Operating Expenses
$176,761
Net Operating Income:
Asking Price: $7,500,000 For More Information Please Contact Our Exclusive Sales Agents Michael A. Tortorici
Jesse Deutch
Victor Sozio
Shimon Shkury
Howard Raber, Esq.
212.544.9500 x13
212.544.9500 x18
212.544.9500 x12
212.544.9500 x11
212.544.9500 x23
[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
Theinformationcontainedhereinhaseitherbeengiventousbytheownerofthepropertyorobtainedfromsourcesthatwedeemreliable.Wehavenoreasontodoubtitsaccuracybutwedonotguaranteetheaccuracyofany 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. October 12, 2015 12:15 PM
531 East 6th Street, New York, NY 10009 Five (5) Story, 24 Unit Alphabet City Walk-Up Building | FOR SALE Rent Roll Unit
Unit Type
Status
Legal Rent
Monthly Rent
Lease Expiration
Lease Expiration
A1
Studio
RS-Pref
$2,124
$1,700
10/31/2016
10/31/2016
A2
Studio
FM
-
$1,667
8/31/2016
8/31/2016
A3
Studio
FM
-
$1,616
5/14/2016
5/14/2016
A4
Studio
FM
-
$1,601
-
-
B1
Studio
RS
-
$1,950
Projected
Projected
B2
Studio
RS
$1,023
$1,023
6/30/2017
6/30/2017
B3
Studio
FM
-
$1,742
2/29/2016
2/29/2016
B4
Studio
RS
$744
$744
12/31/2015
12/31/2015
C1
Studio
RS-Pref
$2,884
$1,895
5/14/2016
5/14/2016
C2
Studio
FM
-
$1,831
9/30/2016
9/30/2016
C3
Studio
FM
-
$1,900
10/31/2016
10/31/2016 9/30/2017
C4
Studio
RS
$891
$891
9/30/2017
D1
Studio
RS-Pref
$1,741
$1,727
1/14/2016
1/14/2016
D2
Studio
FM
-
$1,869
6/14/2016
6/14/2016
D3
Studio
RS-Pref
$2,327
$1,818
8/31/2016
8/31/2016
D4
Studio
FM
-
$1,750
10/31/2016
10/31/2016 2/29/2016
E1
Studio
FM
-
$1,742
2/29/2016
E2
Studio
RS
$698
$698
5/31/2017
5/31/2017
E3
Studio
FM
-
$1,717
11/30/2015
11/30/2015
E4
Studio
RS-Pref
$2,312
$1,750
1/14/2016
1/14/2016
F1
Studio
RS-Pref
$631
$460
6/14/2017
6/14/2017
F2
Studio
FM
-
$1,895
5/31/2016
5/31/2016
F3
Studio
FM
-
$1,950
Projected
Projected
F4
Studio
FM
-
$1,858
9/30/2016
9/30/2016
Total Monthly Rent
$37,793
Total Annual Rent
$453,515
Total # of Units
24
Asking Price: $7,500,000 For More Information Please Contact Our Exclusive Sales Agents Michael A. Tortorici
Jesse Deutch
Victor Sozio
Shimon Shkury
Howard Raber, Esq.
212.544.9500 x13
212.544.9500 x18
212.544.9500 x12
212.544.9500 x11
212.544.9500 x23
[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
E M 5 Av / 53 St
5
Q
Av / 53 St
PARK
USEUM OF ODERN ART
32
E M E 53 ST
E 53 SThereinhaseitherbeengiventousbytheownerofthepropertyorobtainedfromsourcesthatwedeemreliable.Wehavenoreasontodoubtitsaccuracybutwedonotguaranteetheaccuracyofany Theinformationcontained E Mused herein are an arbitrary percentage used only as an information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors example, and does not necessarily relate 6 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 51 St and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. October 12, 2015 12:15 PM
RADIO CITY
50
E 50 ST 50
E 49 ST 531 East 6th Street, New York, NY 10009
50
103
Tax Map Grand Central 42 St
Q
METRO NORTH
7 42
NEW YORK PUBLIC LIBRARY5
7
42
E 42 ST
4 5
S
MIDTOWN OUTH CENTRAL) 2
PARK AV
MADISON AV
MORGAN LIBRARY EMPIRE STATE BUILDING
ATH
Q
E 36 ST 34
34 34 A
E 34 St PIER East River Ferry NY Water Taxi Ferries to NJ
33 ST
6
HELIPORT East 6th Street
E 33 ST 101 102
3d View
101 102 103
28 St
6
28 St
E 29 ST
M34A
E 28 ST
M15
N R
WATERSIDE PLAZA
E 26 ST
E 24 ST
23 St
6
15
E 14 ST
4 5 6 14 St
1 AV
2 AV
3 AV
4 AV
14 D
E 10 ST 8
ST MARKS PL
8
6
8 St - NYU
Astor Pl
N R
THE COOPER UNION
5
LAFAYETTE ST
101 102
BLEECKER ST
9
EAST RIVER PARK
E 5 ST
14 D
E 3 ST 21
14 A
E 2 ST
9
21
HOUSTON ST
Asking Price:E $7,500,000
6 Bleecker St
E 1 ST
SBS
STANTON ST
ALLEN ST
ST CHRYSTIE
RY BOWE
ST
MOTT
E RG BRIDG ILLIAMSBU W J Z Howard Raber, Esq. M 212.544.9500 x23
LOWE [email protected] SIDE EAST Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
Z
21
[email protected]
PITT ST
T ERRY S MULB
Shimon Shkury LEWIS ST
BROADWAY
ST 14 D
212.544.9500 x11
[email protected] F J
ST DELANCEY ST
212.544.9500 x12
MndEssex St Property Advisors | Building Results |BR122 ST 42 J Z OOMEEast Bowery
RIVINGTON
ST
[email protected]
CLINTON
Spring St
Victor Sozio ST
6 [email protected]
Jesse Deutch 212.544.9500 x18
NORFOLK
R Tortorici N A. Michael
SOHO 212.544.9500 x13
stop only
ST SUFFOLK
B D BroadwayLafayette St F M
FDR DRIVE
F
14 D 21
SouthFor More Information Please Contact Our Exclusive Sales Agents 2 Avenue bound
Prince St
BROOME Ariel ST
8
E 7 ST
EAST VILLAGE E 4 ST
103
21
SPRING ST
TOMPKINS SQUARE Subject Property PARK
E 9 ST
AVENUE A
E 8 ST
WHOSTON ST
BROADWAY
SULLIVAN ST
THOMPSON ST
14 A
8
GREENWICH VILLAGE
PRINCE ST
E 11 ST
COLUMBIA
MAC DOUGAL ST
2
1 Avenue
3 Avenue
ESSEX ST
CAS
E
5
1
L
L
15
3
WASHINGTON SQUARE NYU PARK
W 3 ST
g St
2
3
LA GUARDIA PL
W 4 ST
1
L
Union Sq
Y BWA
5 AV
UNIVERSITY PL
R
8
R
STUYVESANT SQUARE PARK
E 16 ST
N Q
W 8 ST
IVE
9
STUYVESANT TOWN
14 A 14 D
W 9 ST
E
AY
E 18 ST 2
W 14 ST
ATH
23
9
103
PATH
L
RIV
E 20 ST
E 20 ST
101 102
3 UNION SQUARE PARK Location map
14 St Union Sq
RD
PARK AV SOUTH
23
PETER COOPER VILLAGE
GRAMERCY PARK
1
W 17 ST
9
FD
ADW
BRO
5
TR
23 St
3
E 23 ST
BARUCH COLLEGE
N R
2
34 A
23
E 23 ST
1
34 A
E 25 ST
EAS
PATH
LIRR, AMTRAK
34 A
34 A 15
103
MADISON SQUARE PARK
50
E 34 ST
4
32
E 38 ST
AVENUE D
N Q
4 St erald Sq
42
AVENUE C
D F
402
Avenue A
Q
32
7
East 7th Street
E 41 ST
6
3
1 4
UNITED NATIONS
E 44 ST
AVENUE B
32
FDR DRIVE
5
15
15
1 AV
2
2 AV
3
3 AV
1 4
E 47 ST
GRAND CENTRAL TERMINAL
LEXINGTON AV
5 Av
ST 101 102 Five (5) Story, 24 UnitE 48Alphabet City Walk-Up Building | FOR SALE
101 102 103
Avenue B
ROCKEFELLER CENTER
Delancey St
14 A
14 A 22
GRAND ST
J
