2-Family Home For Sale Ideal for Conversion or Live
2-Family Home For Sale Ideal for Conversion or Live Plus Income 128 West 95th Street New York, NY Location:
South side of West 95th Street between Columbus and Amsterdam Avenue.
Block / Lot: Lot Size: Building Dimensions:
1225/45 17’ x 100.67’ (Per ACRIS) 17’ x 60’ irr (1-5, Approx.) 17’ x 33’ (Penthouse, Approx.)
Building Stories: Gross Sq. Ft.: Zoning: FAR: Air Rights: Historic District: Real Estate Taxes (13/14): Assessment (13/14):
6 5,645 (Approx.) R7-2 3.44 242 (Subject to Verification, Approx) No $54,423 $292,086
ASKING PRICE: $5,850,000 A beautifully renovated 17' wide, 2-Family home that is currently owned by the Mandell School. The house has been extensively renovated throughout the last decade to serve multiple uses; the top 4 floors are finished as a luxurious 4 bedroom 3.5 bathroom private residence, the parlor floor formerly housed the Mandell School's administrative offices and has been gutted in advance of returning it to residential use, and the basement was finished as classroom space which is currently leased to the Manhattan's Children Center (lease expires July of 2015).The parlor floor and owner’s apartment are currently vacant. Buyers can immediately recapture the parlor floor to create a large 5 story home, finish it as a guest flat, or renovate it as separate apartment to create additional cash flow. At the expiration of MCC’s lease, the basement space can also be reclaimed to complete a single family or kept as a rental to continue providing investment income. 128 West 95th Street is an excellent opportunity that offers buyers the flexibility of purchasing a renovated home with room to expand or multiple streams of income. Tours are available upon request.
For further information, please contact Exclusive Agents: Hall H. Oster
Teddy Galligan
Director of Sales [email protected] 212-696-2500 x7723
Associate [email protected] 212-696-2500 x5137
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, 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 HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333 www.masseyknakal.com THE BRONX
BROOKLYN
MANHATTAN
NASSAU
NEW JERSEY
QUEENS
STATEN ISLAND
WESTCHESTER
2-Family Home For Sale Ideal for Conversion or Live Plus Income 128 West 95th Street New York, NY
Layout Basement & Parlor Floors: Basement: The basement level has been renovated as classroom space and is currently leased to the Manhattan Children’s Center (MCC) through July of 2015. The space is completely independent from the remainder of the house and is accessed by a separate entrance below the stoop on West 95th Street. MCC is also leasing 127 West 94th Street which abuts to 128 West 95th Street and was formerly owned by Mandell. The properties have shared garden access which will be utilized by MCC through the expiration of both leases in July of 2015. MCC is currently paying $6,000 per month or $72,000 per year for the basement which covers the full expense of the real estate taxes and approximately $18,000 in additional operating costs. Parlor Floor: The owner’s apartment is accessed via a straight stoop from 95th Street which leads to the parlor floor. The parlor was previously used as Mandell’s administrative office and was recently gutted in preparation of connecting it to the owner’s apartment above. Upon entry there is a private stair case leading to the Head of School’s residence and a separate door to the former administrative offices which are now vacant. The space is wide open and ready to be finished in accordance with the buyer’s wishes. The front portion of the floor features a one story extension with two large windows overlooking 95th Street. The rear of the floor has line of windows overlooking the yard and access to a private deck. Buyer’s will have the flexibility of deciding whether to recapture the floor as part of the owner’s unit, finish its as a guest flat, or opting to rent it as a separate apartment to provide additional income.
Private Residence (Floors 3-6): Third Floor: The private staircase from the parlor floor leads to the first level of the owner’s residence which is currently configured as the living quarters. There’s a large chef’s kitchen located in the center of the floor that opens to the south facing living room. The living room over looks the garden and has four large windows which provide afternoon light to the entire floor. The formal dining room is opposite the living room and has a line floor to ceiling windows overlooking 95th Street and a small Juliet balcony above the parlor room. Fourth Floor: The fourth floor features a large guest suite overlooking the garden and an exercise room facing 95th Street. There’s full bathroom accessed through the guest suite which is adjacent to a large linen room and a laundry room featuring a front loaded washer & dryer. Fifth Floor: The fifth floor is finished as the master suite. The master bedroom overlooks the garden and receives a tremendous amount of light due to its southern exposure. There’s a large walk-in closet that leads to the two room master bathroom. The front room features ample space and a large his and hers sink. The second room contains a jacuzzi bathtub and a separate walk-in shower. Opposite of the master bedroom is a spacious study/home office that could be converted to another bedroom or a second family room. Penthouse: The top level of the owner’s apartment has been dedicated to the children of the house. The stairs from the master floor lead to a common hallway that exits in front of a shared bathroom between two sun drenched bedrooms. Each bedroom has a skylight and access to north and south facing private roof terraces that receive both morning and afternoon light.
Floor Plans Available Upon Request The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, 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 HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333 www.masseyknakal.com THE BRONX
BROOKLYN
MANHATTAN
NASSAU
NEW JERSEY
QUEENS
STATEN ISLAND
WESTCHESTER
2-Family Home For Sale Ideal for Conversion or Live Plus Income 128 West 95th Street New York, NY
Interior Photos
Summary of Income & Expenses Income: Monthly Rental Revenue*: Annual Rental Revenue*:
$ $
6,000 72,000
EXPENSES: (Estimated) Real Estate Taxes (13/14) Less RE Tax Reimbursement: Water & Sewer Charges ($0.50 PSF): Insurance ($.75 PSF): Fuel ($1.75 PSF): Electricity ($0.25 PSF): Repairs & Maintenance: Total:
$ $ $ $ $ $ $ $
54,423 (1,354) 2,933 4,399 10,264 1,466 5,000 77,130
Gross Annual Expenses: Less Annual Rental Revenue: Annual Net Operating Expenses:
$ $ $
77,130 72,000 5,130
*Exclude R.E Tax Reimbursement, Tenant pays 20% of all taxes over base year of 2010/2011 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, 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 HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333 www.masseyknakal.com THE BRONX
BROOKLYN
MANHATTAN
NASSAU
NEW JERSEY
QUEENS
STATEN ISLAND
WESTCHESTER
South side of West 95th Street between Columbus and Amsterdam Avenue.
Block / Lot: Lot Size: Building Dimensions:
1225/45 17’ x 100.67’ (Per ACRIS) 17’ x 60’ irr (1-5, Approx.) 17’ x 33’ (Penthouse, Approx.)
Building Stories: Gross Sq. Ft.: Zoning: FAR: Air Rights: Historic District: Real Estate Taxes (13/14): Assessment (13/14):
6 5,645 (Approx.) R7-2 3.44 242 (Subject to Verification, Approx) No $54,423 $292,086
ASKING PRICE: $5,850,000 A beautifully renovated 17' wide, 2-Family home that is currently owned by the Mandell School. The house has been extensively renovated throughout the last decade to serve multiple uses; the top 4 floors are finished as a luxurious 4 bedroom 3.5 bathroom private residence, the parlor floor formerly housed the Mandell School's administrative offices and has been gutted in advance of returning it to residential use, and the basement was finished as classroom space which is currently leased to the Manhattan's Children Center (lease expires July of 2015).The parlor floor and owner’s apartment are currently vacant. Buyers can immediately recapture the parlor floor to create a large 5 story home, finish it as a guest flat, or renovate it as separate apartment to create additional cash flow. At the expiration of MCC’s lease, the basement space can also be reclaimed to complete a single family or kept as a rental to continue providing investment income. 128 West 95th Street is an excellent opportunity that offers buyers the flexibility of purchasing a renovated home with room to expand or multiple streams of income. Tours are available upon request.
For further information, please contact Exclusive Agents: Hall H. Oster
Teddy Galligan
Director of Sales [email protected] 212-696-2500 x7723
Associate [email protected] 212-696-2500 x5137
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, 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 HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333 www.masseyknakal.com THE BRONX
BROOKLYN
MANHATTAN
NASSAU
NEW JERSEY
QUEENS
STATEN ISLAND
WESTCHESTER
2-Family Home For Sale Ideal for Conversion or Live Plus Income 128 West 95th Street New York, NY
Layout Basement & Parlor Floors: Basement: The basement level has been renovated as classroom space and is currently leased to the Manhattan Children’s Center (MCC) through July of 2015. The space is completely independent from the remainder of the house and is accessed by a separate entrance below the stoop on West 95th Street. MCC is also leasing 127 West 94th Street which abuts to 128 West 95th Street and was formerly owned by Mandell. The properties have shared garden access which will be utilized by MCC through the expiration of both leases in July of 2015. MCC is currently paying $6,000 per month or $72,000 per year for the basement which covers the full expense of the real estate taxes and approximately $18,000 in additional operating costs. Parlor Floor: The owner’s apartment is accessed via a straight stoop from 95th Street which leads to the parlor floor. The parlor was previously used as Mandell’s administrative office and was recently gutted in preparation of connecting it to the owner’s apartment above. Upon entry there is a private stair case leading to the Head of School’s residence and a separate door to the former administrative offices which are now vacant. The space is wide open and ready to be finished in accordance with the buyer’s wishes. The front portion of the floor features a one story extension with two large windows overlooking 95th Street. The rear of the floor has line of windows overlooking the yard and access to a private deck. Buyer’s will have the flexibility of deciding whether to recapture the floor as part of the owner’s unit, finish its as a guest flat, or opting to rent it as a separate apartment to provide additional income.
Private Residence (Floors 3-6): Third Floor: The private staircase from the parlor floor leads to the first level of the owner’s residence which is currently configured as the living quarters. There’s a large chef’s kitchen located in the center of the floor that opens to the south facing living room. The living room over looks the garden and has four large windows which provide afternoon light to the entire floor. The formal dining room is opposite the living room and has a line floor to ceiling windows overlooking 95th Street and a small Juliet balcony above the parlor room. Fourth Floor: The fourth floor features a large guest suite overlooking the garden and an exercise room facing 95th Street. There’s full bathroom accessed through the guest suite which is adjacent to a large linen room and a laundry room featuring a front loaded washer & dryer. Fifth Floor: The fifth floor is finished as the master suite. The master bedroom overlooks the garden and receives a tremendous amount of light due to its southern exposure. There’s a large walk-in closet that leads to the two room master bathroom. The front room features ample space and a large his and hers sink. The second room contains a jacuzzi bathtub and a separate walk-in shower. Opposite of the master bedroom is a spacious study/home office that could be converted to another bedroom or a second family room. Penthouse: The top level of the owner’s apartment has been dedicated to the children of the house. The stairs from the master floor lead to a common hallway that exits in front of a shared bathroom between two sun drenched bedrooms. Each bedroom has a skylight and access to north and south facing private roof terraces that receive both morning and afternoon light.
Floor Plans Available Upon Request The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, 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 HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333 www.masseyknakal.com THE BRONX
BROOKLYN
MANHATTAN
NASSAU
NEW JERSEY
QUEENS
STATEN ISLAND
WESTCHESTER
2-Family Home For Sale Ideal for Conversion or Live Plus Income 128 West 95th Street New York, NY
Interior Photos
Summary of Income & Expenses Income: Monthly Rental Revenue*: Annual Rental Revenue*:
$ $
6,000 72,000
EXPENSES: (Estimated) Real Estate Taxes (13/14) Less RE Tax Reimbursement: Water & Sewer Charges ($0.50 PSF): Insurance ($.75 PSF): Fuel ($1.75 PSF): Electricity ($0.25 PSF): Repairs & Maintenance: Total:
$ $ $ $ $ $ $ $
54,423 (1,354) 2,933 4,399 10,264 1,466 5,000 77,130
Gross Annual Expenses: Less Annual Rental Revenue: Annual Net Operating Expenses:
$ $ $
77,130 72,000 5,130
*Exclude R.E Tax Reimbursement, Tenant pays 20% of all taxes over base year of 2010/2011 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, 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 HEREIN.
275 Madison Avenue • Third Floor • New York, NY 10016 • 212.696.2500 • Fax 212.696.0333 www.masseyknakal.com THE BRONX
BROOKLYN
MANHATTAN
NASSAU
NEW JERSEY
QUEENS
STATEN ISLAND
WESTCHESTER
