871 Hart Street North Bushwick, Brooklyn, NY WALK-UP BUILDING 5,250 SF FOR SALE Building Features Location
On the northwest side of Hart Street between Irving and Knickerbocker Avenues.
Block & Lot
3220 / 39
Lot Size
25' x 100'
(Approx.)
Lot SF
2,500
(Approx.)
Zoning
R6
FAR
2.2
Building Size
25' x 70'
(Approx.)
Building SF
5,250
(Approx.)
Stories
3
Units
6
Assessment ('15/'16)
$55,506
R.E. Taxes ('15/'16)
$7,151
Projected Expenses Real Estate Taxes ('15/'16)
Property Description The subject property is a three-story walk-up building with six residential units located on the northwest side of Hart Street between Irving Avenue and Knickerbocker Avenue in North Bushwick, Brooklyn. Public transportation is available within two short blocks to the L train at DeKalb Avenue Station, offering convenient access to Williamsburg and Manhattan within 15 minutes. The property also benefits from close proximity to many Bushwick’s already flourishing art galleries, night life, and dining options. Take advantage of this opportunity to own a cash flowing investment property in one of Brooklyn’s most rapidly growing neighborhoods.
DOF Property Tax Bill
Water / Sewer
$1.00 / SF
$5,250
Insurance
$1.00 / SF
$5,250
Fuel*
$1.60 / SF
$2,800
Electric
$0.25 / SF
$1,313
Maintenance & Repairs
$450 / Unit
$2,700
Management
4% of EGI
$7,157
Total
$24,469
Effective Gross Income
$178,918
Less Estimated Expenses
Exp. Ratio: 14%
Projected Net Operating Income
$24,469 $154,449
*Free Market tenants pay their own fuel. For More Information, Please Contact:
ASKING PRICE
Michael Amirkhanian, Executive Director (718) 606-7073
[email protected] DJ Johnston, Associate Director (718) 307-6515
[email protected] William Cheng, Associate Director (718) 606-7037
[email protected] Bryan Kirk, Associate (718) 307-6516
[email protected] Joshua Sabzevari, Associate (718) 307-6521
[email protected] $3,100,000
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor, Brooklyn, NY 11201 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
871 Hart Street North Bushwick, Brooklyn, NY
Current Revenue Unit
Type
871 Hart Street Status
Net (SF)
$/ SF
Rent / Mo.
Annual Rent
1L
2 BR / 1 BA
RS
770
$9
$567
$6,804
1R
2 BR / 1 BA
RS
770
$13
$849
$10,188
2L
4 BR / 1.5 BA
FM
770
$55
$3,500
$42,000
2R
4 BR / 1.5 BA
FM
770
$54
$3,455
$41,460
3L
4 BR / 1.5 BA
FM
770
$55
$3,500
$42,000
3R
4 BR / 1.5 BA
FM
770
$55
$3,500
$42,000
4,620
$40
$15,371 $184,452
Total / Average Vacancy & Credit Loss @ 3% Effective Gross Income
$461
L
L
$5,534
$14,910 $178,918
ASKING PRICE: $3,100,000
CUSHMAN & WAKEFIELD 205 Montague Street, 3rd Floor, Brooklyn, NY 11201 nyinvestmentsales.com
M
For More Information, Please Contact:
Michael Amirkhanian, Executive Director (718) 606-7073
[email protected] DJ Johnston, Associate Director (718) 307-6515
[email protected] William Cheng, Associate Director (718) 606-7037
[email protected] Bryan Kirk, Associate (718) 307-6516
[email protected] Joshua Sabzevari, Associate (718) 307-6521
[email protected] Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.