404 west 145th street new york, ny 10011
404 WEST 145TH STREET NEW YORK, NY 10011 4 Unit Walk-Up Building
Approximately 5,000 SF Free Market Multifamily
FOR SALE
BUILDING FEATURES LOCATION
On the south side of West 145th Street between St. Nicholas Avenue and Convent Avenue.
BLOCK/LOT
2050 / 51
LOT DIMENSIONS
15.5’ x 99.92’ (Approx.)
LOT AREA
1,549 (Approx.)
STORIES
5
BUILDING SIZE
16’ x 77’ (Approx.)
GROSS SQUARE FOOTAGE
4,732 (Approx.)
RESIDENTIAL UNITS
4
ZONING
R6A /C1-4
FAR
3.00
ASSESMENT (15/16)
$63,138
TAXES (15/16)
$8,116
ADJUSTED GROSS REVENUE
$127,272
EXPENSES
$22,540
NOI
$116,095
ASKING PRICE
$2,385,000 PROPERTY FEATURES Cushman & Wakefield been retained on an exclusive basis for the sale of 404 West 145th Street, a unique investment opportunity to own an approximately 4,732 sq. ft. beautifully renovated and fully upgraded free market residential building along the 145th Street retail corridor in West Harlem. The subject property is a five (5) story building with four (4) residential units and a built out basement with a full bath and West 144th Street window that could be used as a commercial space. The below grade basement space has a street level window and is currently being used as an office. The property contains a large duplex unit with 374 sq. ft. of outdoor space, as well as one (1) twobedroom floor-through apartment and two (2) one-bedroom floor through apartments. The one and two-bedroom units each have 250 sq. ft. of outdoor space. The property represents a tremendous opportunity for an end user seeking a live plus income building. Furthermore, the building has been significantly upgraded to include a new roof, electrical systems, garden, stucco facade, and a new stoop. The building is also within close proximity to City College of New York and the A, B, C and D subway lines at West 145th Street and St. Nicholas Avenue. FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
404 WEST 145TH STREET
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
For Sale
RENT ROLL UNIT #
# OF ROOMS
LEASE TYPE
ACTUAL CHARGES
First Floor
Duplex
FM
$3,750
Second Floor
Floor Through
FM
$2,500
Third Floor
Floor Through
FM
$2,200
Fourth Floor
Floor Through
FM
$2,200
TOTAL:
$10,650
COMMERCIAL
ACTUAL CHARGES
Tower Stream
Roof
N/A
$834
TOTAL:
$834
TOTALS & METRICS Combined Monthly Revenue
$11,484
Combined Annual Revenue
$137,808
Average Monthly Rent Per Unit
$2,871
Average Rent Per Net Square Foot
$34.26
EXPENSES Actual
$8,116
Water & Sewer
Projected @ $700 / Unit
$2,800
Insurance
Projected @ $400 / Unit
$1,600
Tenant Pays Except Common Spaces
$1,063
Repairs
Projected @ $400 / Unit
$1,600
Super
Projected @ $200 / Mo.
$2,400
R. E. Taxes (14/15)
Gas & Electric
Total Annual Expenses:
$17,579
Gross Annual Revenue:
$137,808 @ 3% of Gross Annual Revenue
Vacancy Allowance:
$4,134
Effective Gross Annual Revenue:
$133,674
Less Annual Expenses:
$17,579
Net Operating Income:
$116,095
CAP RATE:
4.86%
PPSF:
$504
FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
404 WEST 145TH STREET
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
For Sale TAX MAP & PROPERTY PHOTOS
Convent Avenue
West 145th Street Convent Avenue Baptist Church
West 144th Street
FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
404 WEST 145TH STREET For Sale
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
FLOOR PLANS: BASEMENT, FIRST FLOOR & SECOND FLOOR
FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
404 WEST 145TH STREET For Sale
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
FLOOR PLANS: BASEMENT, FIRST FLOOR & SECOND FLOOR
FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
Approximately 5,000 SF Free Market Multifamily
FOR SALE
BUILDING FEATURES LOCATION
On the south side of West 145th Street between St. Nicholas Avenue and Convent Avenue.
BLOCK/LOT
2050 / 51
LOT DIMENSIONS
15.5’ x 99.92’ (Approx.)
LOT AREA
1,549 (Approx.)
STORIES
5
BUILDING SIZE
16’ x 77’ (Approx.)
GROSS SQUARE FOOTAGE
4,732 (Approx.)
RESIDENTIAL UNITS
4
ZONING
R6A /C1-4
FAR
3.00
ASSESMENT (15/16)
$63,138
TAXES (15/16)
$8,116
ADJUSTED GROSS REVENUE
$127,272
EXPENSES
$22,540
NOI
$116,095
ASKING PRICE
$2,385,000 PROPERTY FEATURES Cushman & Wakefield been retained on an exclusive basis for the sale of 404 West 145th Street, a unique investment opportunity to own an approximately 4,732 sq. ft. beautifully renovated and fully upgraded free market residential building along the 145th Street retail corridor in West Harlem. The subject property is a five (5) story building with four (4) residential units and a built out basement with a full bath and West 144th Street window that could be used as a commercial space. The below grade basement space has a street level window and is currently being used as an office. The property contains a large duplex unit with 374 sq. ft. of outdoor space, as well as one (1) twobedroom floor-through apartment and two (2) one-bedroom floor through apartments. The one and two-bedroom units each have 250 sq. ft. of outdoor space. The property represents a tremendous opportunity for an end user seeking a live plus income building. Furthermore, the building has been significantly upgraded to include a new roof, electrical systems, garden, stucco facade, and a new stoop. The building is also within close proximity to City College of New York and the A, B, C and D subway lines at West 145th Street and St. Nicholas Avenue. FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
404 WEST 145TH STREET
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
For Sale
RENT ROLL UNIT #
# OF ROOMS
LEASE TYPE
ACTUAL CHARGES
First Floor
Duplex
FM
$3,750
Second Floor
Floor Through
FM
$2,500
Third Floor
Floor Through
FM
$2,200
Fourth Floor
Floor Through
FM
$2,200
TOTAL:
$10,650
COMMERCIAL
ACTUAL CHARGES
Tower Stream
Roof
N/A
$834
TOTAL:
$834
TOTALS & METRICS Combined Monthly Revenue
$11,484
Combined Annual Revenue
$137,808
Average Monthly Rent Per Unit
$2,871
Average Rent Per Net Square Foot
$34.26
EXPENSES Actual
$8,116
Water & Sewer
Projected @ $700 / Unit
$2,800
Insurance
Projected @ $400 / Unit
$1,600
Tenant Pays Except Common Spaces
$1,063
Repairs
Projected @ $400 / Unit
$1,600
Super
Projected @ $200 / Mo.
$2,400
R. E. Taxes (14/15)
Gas & Electric
Total Annual Expenses:
$17,579
Gross Annual Revenue:
$137,808 @ 3% of Gross Annual Revenue
Vacancy Allowance:
$4,134
Effective Gross Annual Revenue:
$133,674
Less Annual Expenses:
$17,579
Net Operating Income:
$116,095
CAP RATE:
4.86%
PPSF:
$504
FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
404 WEST 145TH STREET
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
For Sale TAX MAP & PROPERTY PHOTOS
Convent Avenue
West 145th Street Convent Avenue Baptist Church
West 144th Street
FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
404 WEST 145TH STREET For Sale
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
FLOOR PLANS: BASEMENT, FIRST FLOOR & SECOND FLOOR
FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
404 WEST 145TH STREET For Sale
<XXX> SF AVAILABLE (3 LINES MAXIMUM)
FLOOR PLANS: BASEMENT, FIRST FLOOR & SECOND FLOOR
FOR MORE INFORMATION, PLEASE CONTACT: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
CUSHMAN & WAKEFIELD, INC. 275 Madison Avenue, 3rd Floor New York, NY 10016 nyinvestmentsales.com
No warranty or representation, express or implied, is made as to the accuracy 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 our client. The depiction in the above photography of any person, entity, sign, logo or property (other than Cushman & Wakefield’s client and the Property offered by Cushman & Wakefield) is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and Cushman & Wakefield or its client.
