3021 Tilden Avenue, Brooklyn, NY 11226
Mixed-Use Building – Flatbush
3021 Tilden Avenue, Brooklyn, NY 11226 Completely Renovated Mixed-Use Building Flatbush Property Information Address: 3021 Tliden Avenue Brooklyn, NY 11226 Neighborhood: Flatbush Cross Streets: Nostrand Ave & E. 31st St Block: 4901 Lots: 41 Lot Size: 20 ft x 80 ft Lot SF: 1,600 Zoning: R6 FAR: 2.20 Building Information Tax Class: Building Size: Building Class: Stories: Residential Units: Commercial Units: Total Units: Residential SF: Commercial SF: Existing SF:
1 20 ft x 60 ft S2 3 2 1 3 2,400 1,600 4,000
For more information, please contact Exclusive Marketing Team
Peter Matheos Vice President [email protected]
Adan Elias Kornfeld Associate [email protected]
(718) 568-9261
Assessment (16/17): $46,541 Taxes (16/17): $9,101 TerraCRG has been retained to exclusively represent ownership in the sale of the completely renovated mixed-use building at 3021 Tilden Avenue in Flatbush. This three-story, ~4,000 SF mixed-use offering presents a unique opportunity to acquire a turn-key building in a neighborhood that has experienced a 200% growth in dollar volume since 2013. The building consists of two floor-through 4-bedroom, 2-bath apartments, one retail unit and a finished basement, all of which have been completely gut-renovated with high-end finishes. The units are individually metered with tenants responsible for their own utilities inclusive of heat; allowing for lower than average expenses for the ownership. The ground floor is occupied by the NY State Senate with a lease expiration of December 2018. The gross income for the building is ~$130K, with annual expenses of $21,615, the Net Operating Income is $107,725. The property is located on the corner of Tilden Avenue and E 31st Street, a block from Nostrand Avenue, which is filled with restaurants, boutiques, shops and national tenants such as Chase, CitiBank, Bank of America, HSBC, Sears, Staples, Duane Reade, Modell’s, Blink Fitness and Walgreens to name a few. Additionally, it is in close proximity to Prospect Park and the revamped, iconic Kings Theater. The property is located within one block of the 2 and 5 express trains at the Beverly Rd station, providing access to Manhattan in just 25 minutes. Flatbush is emerging as a strong sub-market in New York City, seeing an influx of new development with over ~1,180 new units coming to the immediate area. Most notably is the 23-story tower being developed at 1580 Nostrand Avenue by Hello Living, which will include 153 apartments evenly divided between condo and marketrate rentals in addition to two stories of ground-level medical offices.
Asking Price $1,850,000
TerraCRG I Licensed Real Estate Broker I 634 Dean Street, Brooklyn, NY 11238 I P: 718-768-6888 I F: 718-768-6288 | terracrg.com The information provided herein has either been given to us by the owner of the property or was obtained from sources we deem reliable. We do not guarantee the accuracy of any information. All zoning, existing square feet of buildings, available buildable square feet, permitted uses and any other information provided herein must be independently verified by prospective purchasers. The value of any real estate investment is dependent upon a variety of factors, including income, vacancy rates, expense estimates, tax brackets and general market assumptions, all of which should be evaluated by your tax advisor and/or legal counsel. Prospective buyer and tenants should carefully verify each item of information herein.
Mixed-Use Building – Flatbush
3021 Tilden Avenue, Brooklyn, NY 11226 Completely Renovated Mixed-Use Building Flatbush Unit LXP NSF Monthly Rent Store Dec-18 1,360 $ 4,583 Apt. 1 Nov-16 1,020 $ 3,195 Apt. 2 May-17 1,020 $ 3,000 $ 10,778
Annual Rent Rent/SF $ 54,999.96 $ 40 $ 38,340 $ 38 4 Bed /2 Bath + Deck $ 36,000 $ 35 4 Bed /2 Bath $ 129,340 $ 38
For more information, please contact Exclusive Marketing Team
REVENUE: Gross Monthly Income Gross Annual Income
$ 10,778 $ 129,340
Peter Matheos
EXPENSES (ESTIMATED ): Real Estate Taxes Insurance Heat (paid by tenants) Electric Water/Sewer Repairs/Maintenance Vacancy/Management Total:
$ $ $ $ $ $ $ $
Adan Elias Kornfeld
Gross Annual Income: Less Expenses: Net Operating Income:
3.0% 3.0%
Vice President [email protected]
9,101 2,921 360 1,473 3,880 3,880 21,615
Associate [email protected]
(718) 568-9261
$ 129,340 $ 21,615 $ 107,725
3021 Tilden Avenue
Asking Price $1,850,000 TerraCRG I Licensed Real Estate Broker I 634 Dean Street, Brooklyn, NY 11238 I P: 718-768-6888 I F: 718-768-6288 | terracrg.com The information provided herein has either been given to us by the owner of the property or was obtained from sources we deem reliable. We do not guarantee the accuracy of any information. All zoning, existing square feet of buildings, available buildable square feet, permitted uses and any other information provided herein must be independently verified by prospective purchasers. The value of any real estate investment is dependent upon a variety of factors, including income, vacancy rates, expense estimates, tax brackets and general market assumptions, all of which should be evaluated by your tax advisor and/or legal counsel. Prospective buyer and tenants should carefully verify each item of information herein.
3021 Tilden Avenue, Brooklyn, NY 11226 Completely Renovated Mixed-Use Building Flatbush Property Information Address: 3021 Tliden Avenue Brooklyn, NY 11226 Neighborhood: Flatbush Cross Streets: Nostrand Ave & E. 31st St Block: 4901 Lots: 41 Lot Size: 20 ft x 80 ft Lot SF: 1,600 Zoning: R6 FAR: 2.20 Building Information Tax Class: Building Size: Building Class: Stories: Residential Units: Commercial Units: Total Units: Residential SF: Commercial SF: Existing SF:
1 20 ft x 60 ft S2 3 2 1 3 2,400 1,600 4,000
For more information, please contact Exclusive Marketing Team
Peter Matheos Vice President [email protected]
Adan Elias Kornfeld Associate [email protected]
(718) 568-9261
Assessment (16/17): $46,541 Taxes (16/17): $9,101 TerraCRG has been retained to exclusively represent ownership in the sale of the completely renovated mixed-use building at 3021 Tilden Avenue in Flatbush. This three-story, ~4,000 SF mixed-use offering presents a unique opportunity to acquire a turn-key building in a neighborhood that has experienced a 200% growth in dollar volume since 2013. The building consists of two floor-through 4-bedroom, 2-bath apartments, one retail unit and a finished basement, all of which have been completely gut-renovated with high-end finishes. The units are individually metered with tenants responsible for their own utilities inclusive of heat; allowing for lower than average expenses for the ownership. The ground floor is occupied by the NY State Senate with a lease expiration of December 2018. The gross income for the building is ~$130K, with annual expenses of $21,615, the Net Operating Income is $107,725. The property is located on the corner of Tilden Avenue and E 31st Street, a block from Nostrand Avenue, which is filled with restaurants, boutiques, shops and national tenants such as Chase, CitiBank, Bank of America, HSBC, Sears, Staples, Duane Reade, Modell’s, Blink Fitness and Walgreens to name a few. Additionally, it is in close proximity to Prospect Park and the revamped, iconic Kings Theater. The property is located within one block of the 2 and 5 express trains at the Beverly Rd station, providing access to Manhattan in just 25 minutes. Flatbush is emerging as a strong sub-market in New York City, seeing an influx of new development with over ~1,180 new units coming to the immediate area. Most notably is the 23-story tower being developed at 1580 Nostrand Avenue by Hello Living, which will include 153 apartments evenly divided between condo and marketrate rentals in addition to two stories of ground-level medical offices.
Asking Price $1,850,000
TerraCRG I Licensed Real Estate Broker I 634 Dean Street, Brooklyn, NY 11238 I P: 718-768-6888 I F: 718-768-6288 | terracrg.com The information provided herein has either been given to us by the owner of the property or was obtained from sources we deem reliable. We do not guarantee the accuracy of any information. All zoning, existing square feet of buildings, available buildable square feet, permitted uses and any other information provided herein must be independently verified by prospective purchasers. The value of any real estate investment is dependent upon a variety of factors, including income, vacancy rates, expense estimates, tax brackets and general market assumptions, all of which should be evaluated by your tax advisor and/or legal counsel. Prospective buyer and tenants should carefully verify each item of information herein.
Mixed-Use Building – Flatbush
3021 Tilden Avenue, Brooklyn, NY 11226 Completely Renovated Mixed-Use Building Flatbush Unit LXP NSF Monthly Rent Store Dec-18 1,360 $ 4,583 Apt. 1 Nov-16 1,020 $ 3,195 Apt. 2 May-17 1,020 $ 3,000 $ 10,778
Annual Rent Rent/SF $ 54,999.96 $ 40 $ 38,340 $ 38 4 Bed /2 Bath + Deck $ 36,000 $ 35 4 Bed /2 Bath $ 129,340 $ 38
For more information, please contact Exclusive Marketing Team
REVENUE: Gross Monthly Income Gross Annual Income
$ 10,778 $ 129,340
Peter Matheos
EXPENSES (ESTIMATED ): Real Estate Taxes Insurance Heat (paid by tenants) Electric Water/Sewer Repairs/Maintenance Vacancy/Management Total:
$ $ $ $ $ $ $ $
Adan Elias Kornfeld
Gross Annual Income: Less Expenses: Net Operating Income:
3.0% 3.0%
Vice President [email protected]
9,101 2,921 360 1,473 3,880 3,880 21,615
Associate [email protected]
(718) 568-9261
$ 129,340 $ 21,615 $ 107,725
3021 Tilden Avenue
Asking Price $1,850,000 TerraCRG I Licensed Real Estate Broker I 634 Dean Street, Brooklyn, NY 11238 I P: 718-768-6888 I F: 718-768-6288 | terracrg.com The information provided herein has either been given to us by the owner of the property or was obtained from sources we deem reliable. We do not guarantee the accuracy of any information. All zoning, existing square feet of buildings, available buildable square feet, permitted uses and any other information provided herein must be independently verified by prospective purchasers. The value of any real estate investment is dependent upon a variety of factors, including income, vacancy rates, expense estimates, tax brackets and general market assumptions, all of which should be evaluated by your tax advisor and/or legal counsel. Prospective buyer and tenants should carefully verify each item of information herein.
