871 HART STREET Brooklyn, NY 11237 - AGORAFY
871 HART STREET Brooklyn, NY 11237
Exclusive Listing
PRIME BUSHWICK MULTI-FAMILY BUILDING
1
PROPERTY DESCRIPTION
871 HART STREET
Opportunity to acquire a stable – cash flowing asset in the heart of Bushwick, a block away from Maria Hernandez park. The three story residential building consists of 6 units; 4 units have undergone renovations and are classified as FM . All residential units are occupied. The building is conveniently located within a block of the Dekalb Ave [L] train. Lot Dimensions
25’ X 100’
Lot SF
2,500 SF
Built Size
25’ X 70’
Built SF
5,250 SF 2.1
Zoning
R6
Block/Lot
3220/39
Assessment
$55,506
Taxes (15/16) ASKING PRICE
$7,151 $ 3,100,000
Property Description Company Overview
FAR as Built
2
$184,451 $184,451
EXPENSES Property Taxes (15/16)* Water and Sewer Insurance Fuel Utilities Repairs and Maintenance TOTAL EXPENSES
$7,151 $7,000 $2,000 $1,600 $250 $4,400 $22,401
NET OPERATING INCOME CAP RATE
$162,050 5.2%
871 HART STREET RENT ROLL UNIT # BEDROOM(S) BATH(S) STATUS 1L 2 1 RENT STABILIZED 1R 2 1 RENT STABILIZED 2L 4 1.5 FREE MARKET 2R 4 1.5 FREE MARKET 3L 4 1.5 FREE MARKET 3R 4 1.5 FREE MARKET TOTAL
RENT/MONTH $567 $849 $3,500 $3,455 $3,500 $3,500 $15,371
RENT/YEAR $6,798 $10,193 $42,000 $41,460 $42,000 $42,000 $184,451
Financial Overview Company Overview
INCOME Gross Residential Rent EFFECTIVE GROSS INCOME
3
Transportation Company Map Overview
4
Gallery
5
Gallery
6
NeighborhoodOverview Company
With Williamsburg becoming one of the most expensive neighborhoods in New York City, Bushwick has undergone a massive investment and development process over the past few years, particularly around the Jefferson and Dekalb [L] train stations. With new retail shops, restaurants and nightlife areas continuously opening up around the neighborhood, Bushwick has become one of the most desirable areas of Brooklyn.
7
EPIC Commercial Realty represent clients from around the world, focusing on investment sales in the bustling New York metropolitan area. We provide the highest level of professionalism, comprehensive and innovative real estate solutions to investors, property owners, and corporations world-wide, and ensure our clients optimum, fast, and smooth transactions.
Collectively, EPIC professionals bring nearly 70 years of commercial real estate experience to your portfolio. Not surprisingly, such teamwork produces results beyond expectations as we incessantly deliver full consultation services based on detailed research and evaluation. Every indication demonstrates our talented and accomplished professionals are performing well beyond the industry standard for commercial real estate firms producing with excellence for clients in a global arena. EPIC continues to expand its management of commercial real estate investments throughout the Greater New York Metropolitan Area, including New York State and New Jersey.
Yagnesh Vangala Director of Investment Sales
Ryan Winchester Director of Investment Sales
Company Overview Company Overview
Based in Soho, NY our clients include storefront owners, retail chains, institutional landlords and real estate developers. EPIC is dedicated to continuously developing dynamic relationships resulting in increased capital beyond the expectation of our clients. Through such principles as integrity and hard work, we strive to develop into an esteemed commercial investment resource for property owners, investors, and corporations worldwide. The measure of our successes is determined by the quality of business relationships we forge. A multi-tier approach allows every aspect of our service to manage transactions for each client with specialized attention to maintaining our focus on timing and the market place.
8
CONFIDENTIAL AGREEMENT This Offering Memorandum has been prepared exclusively by EPIC Commercial Realty on behalf of Ownership, the (“Owner”), regarding the potential purchase of the properties described herein at 871 HART ST, BROOKLYN, NY 11237 (“Property”). The materials and information contained in this Offering Memorandum do not purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All materials have been developed by EPIC Commercial Realty , the Owners and other sources and are subject to variation.
Further, EPIC Commercial Realty the Owners and their employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the Owners since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon request to interested and qualified investors. The Owners and EPIC Commercial Realty each expressly reserve the right, in their sole discretion, to reject any and all expressions of interest or offer regarding the Property and/or terminate discussions with any entity at any time with or without notice. The Owners shall have no legal commitment or obligation to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase of the properties has been fully executed, delivered and approved by the Owners and its legal counsel and any conditions to the Owners’ obligations there under have been satisfied or waived. EPIC Commercial Realty is not authorized to make any representations or agreements on behalf of the Owners. This Offering Memorandum and its contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein called the “Contents”) are of a confidential nature. By accepting the Offering Memorandum, you agree (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, (iii) not to disclose the Offering Memorandum or any of its contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of the Owners or EPIC Commercial Realty , (iv) not to use the Offering Memorandum or any of its contents in any fashion or manner detrimental to the interest of EPIC Commercial Realty, and (v) to return it to EPIC Commercial Realty immediately upon request of EPIC Commercial Realty or the Owners. If you have no further interest in the Property, please return the Offering Memorandum forthwith. No inspections of the Property are permitted unless accompanied by the Owners or a representative from EPIC Commercial Realty
Confidentiality Agreement Company Overview
No representation is made by EPIC Commercial Realty or the Owners as to the accuracy or completeness of the information contained herein and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, EPIC Commercial Realty and the Owners and their employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information.
9
Epic Commercial Realty 580 Broadway, Suite 1107 New York, NY 10012 Tel: (212) 226-9000
Yagnesh Vangala
Director of Investment Sales (646) 278-4628 [email protected]
Ryan Winchester
Director of Investment Sales (646) 278-4638 [email protected]
Exclusive Listing
PRIME BUSHWICK MULTI-FAMILY BUILDING
1
PROPERTY DESCRIPTION
871 HART STREET
Opportunity to acquire a stable – cash flowing asset in the heart of Bushwick, a block away from Maria Hernandez park. The three story residential building consists of 6 units; 4 units have undergone renovations and are classified as FM . All residential units are occupied. The building is conveniently located within a block of the Dekalb Ave [L] train. Lot Dimensions
25’ X 100’
Lot SF
2,500 SF
Built Size
25’ X 70’
Built SF
5,250 SF 2.1
Zoning
R6
Block/Lot
3220/39
Assessment
$55,506
Taxes (15/16) ASKING PRICE
$7,151 $ 3,100,000
Property Description Company Overview
FAR as Built
2
$184,451 $184,451
EXPENSES Property Taxes (15/16)* Water and Sewer Insurance Fuel Utilities Repairs and Maintenance TOTAL EXPENSES
$7,151 $7,000 $2,000 $1,600 $250 $4,400 $22,401
NET OPERATING INCOME CAP RATE
$162,050 5.2%
871 HART STREET RENT ROLL UNIT # BEDROOM(S) BATH(S) STATUS 1L 2 1 RENT STABILIZED 1R 2 1 RENT STABILIZED 2L 4 1.5 FREE MARKET 2R 4 1.5 FREE MARKET 3L 4 1.5 FREE MARKET 3R 4 1.5 FREE MARKET TOTAL
RENT/MONTH $567 $849 $3,500 $3,455 $3,500 $3,500 $15,371
RENT/YEAR $6,798 $10,193 $42,000 $41,460 $42,000 $42,000 $184,451
Financial Overview Company Overview
INCOME Gross Residential Rent EFFECTIVE GROSS INCOME
3
Transportation Company Map Overview
4
Gallery
5
Gallery
6
NeighborhoodOverview Company
With Williamsburg becoming one of the most expensive neighborhoods in New York City, Bushwick has undergone a massive investment and development process over the past few years, particularly around the Jefferson and Dekalb [L] train stations. With new retail shops, restaurants and nightlife areas continuously opening up around the neighborhood, Bushwick has become one of the most desirable areas of Brooklyn.
7
EPIC Commercial Realty represent clients from around the world, focusing on investment sales in the bustling New York metropolitan area. We provide the highest level of professionalism, comprehensive and innovative real estate solutions to investors, property owners, and corporations world-wide, and ensure our clients optimum, fast, and smooth transactions.
Collectively, EPIC professionals bring nearly 70 years of commercial real estate experience to your portfolio. Not surprisingly, such teamwork produces results beyond expectations as we incessantly deliver full consultation services based on detailed research and evaluation. Every indication demonstrates our talented and accomplished professionals are performing well beyond the industry standard for commercial real estate firms producing with excellence for clients in a global arena. EPIC continues to expand its management of commercial real estate investments throughout the Greater New York Metropolitan Area, including New York State and New Jersey.
Yagnesh Vangala Director of Investment Sales
Ryan Winchester Director of Investment Sales
Company Overview Company Overview
Based in Soho, NY our clients include storefront owners, retail chains, institutional landlords and real estate developers. EPIC is dedicated to continuously developing dynamic relationships resulting in increased capital beyond the expectation of our clients. Through such principles as integrity and hard work, we strive to develop into an esteemed commercial investment resource for property owners, investors, and corporations worldwide. The measure of our successes is determined by the quality of business relationships we forge. A multi-tier approach allows every aspect of our service to manage transactions for each client with specialized attention to maintaining our focus on timing and the market place.
8
CONFIDENTIAL AGREEMENT This Offering Memorandum has been prepared exclusively by EPIC Commercial Realty on behalf of Ownership, the (“Owner”), regarding the potential purchase of the properties described herein at 871 HART ST, BROOKLYN, NY 11237 (“Property”). The materials and information contained in this Offering Memorandum do not purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All materials have been developed by EPIC Commercial Realty , the Owners and other sources and are subject to variation.
Further, EPIC Commercial Realty the Owners and their employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the Owners since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon request to interested and qualified investors. The Owners and EPIC Commercial Realty each expressly reserve the right, in their sole discretion, to reject any and all expressions of interest or offer regarding the Property and/or terminate discussions with any entity at any time with or without notice. The Owners shall have no legal commitment or obligation to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase of the properties has been fully executed, delivered and approved by the Owners and its legal counsel and any conditions to the Owners’ obligations there under have been satisfied or waived. EPIC Commercial Realty is not authorized to make any representations or agreements on behalf of the Owners. This Offering Memorandum and its contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein called the “Contents”) are of a confidential nature. By accepting the Offering Memorandum, you agree (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, (iii) not to disclose the Offering Memorandum or any of its contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of the Owners or EPIC Commercial Realty , (iv) not to use the Offering Memorandum or any of its contents in any fashion or manner detrimental to the interest of EPIC Commercial Realty, and (v) to return it to EPIC Commercial Realty immediately upon request of EPIC Commercial Realty or the Owners. If you have no further interest in the Property, please return the Offering Memorandum forthwith. No inspections of the Property are permitted unless accompanied by the Owners or a representative from EPIC Commercial Realty
Confidentiality Agreement Company Overview
No representation is made by EPIC Commercial Realty or the Owners as to the accuracy or completeness of the information contained herein and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, EPIC Commercial Realty and the Owners and their employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information.
9
Epic Commercial Realty 580 Broadway, Suite 1107 New York, NY 10012 Tel: (212) 226-9000
Yagnesh Vangala
Director of Investment Sales (646) 278-4628 [email protected]
Ryan Winchester
Director of Investment Sales (646) 278-4638 [email protected]
