5 East 115th Street, New York NY 10029 - Agorafy
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 the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, 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 contained herein. December 8, 2014 12:20 PM
5 East 115th Street, New York NY 10029 Five (5) Story Mixed Use Building, 15 Units | FOR SALE Asking Price
$3,800,000
Location:
The subject property is located on the north side of East 115th Street between 5th Avenue and Madison Avenue
Block / Lot:
1621 / 6
Number of Units:
15
Cost per Sq. Ft.:
$387
Current CAP:
4.32%
Lot Size:
25' x 110'
Lot Area:
2,750
Zoning (FAR):
R7-2 (3.44)
Building Size:
25' x 86'
Building Area:
9,810
Assessment (14/15):
$567,000
Taxes (14/15):
$72,888
(Approx.) Sq. Ft. (Approx.)
Sq. Ft. (Approx.)
Investment Highlights
Tax Map
5 East 115th Street is a 25’ wide, five (5) story mixed-use building located on the north side of East 115th Street between 5th Avenue and Madison Avenue. The building contains fifteen (15) units, of which there are thirteen (13) residential, all of which are rent stabilized, and two (2) commercial units. Nine (9) of the apartments are 2-bedroom units and four (4) are railroad style one-bedroom units. Combined, the deli units pay 10% of the total tax bill and 15% of water & sewer bill. Recent renovations include new roof, electric meters, gas boiler, and pointing front and side. Easy access to all downtown locations are provided by the 6 train located on Lexington Avenue and East 116th Street. With its excellent condition, cash flow with upside and accessible location, 5 East 115th Street stands out as a prime East Harlem multifamily opportunity.
East 116th Street
5th Avenue
1621
6 East 115th Street
Building Financials Current Roll Scheduled Gross Income: Less Vacancy Rate Reserve (3%): Gross Operating Income: Less Expenses: Net Operating Income:
Combined Estimated Expenses
$285,540
Real Estate Taxes (14/15)
($8,566)
Water & Sewer (1)
$72,888 $12,366 (2)
$276,974
Comm. Tenant Exp. Passthrough
($112,935)
40%
% of SGI
Insurance
$3,410
$164,039
4.32%
CAP rate
Con Edison (Gas & Electric)
$17,200
Payroll
$6,000
Repairs & Maintenence
$2,000
Management
$8,071
Gross Operating Expenses (1) Water & Sewer exp. based on Frontage. (2) Deli pays 10% of total Real Estate Taxes and 15% of Water & Sewer expenses.
Asking Price: $3,800,000 For More Information Please Contact Our Exclusive Sales Agents Michael Tortorici
Victor Sozio
Marko Agbaba
Jesse Deutch
212.544.9500 x.13
212.544.9500 x.12
212.544.9500 ext. 32
212.544.9500 ext.18
[email protected]
[email protected]
[email protected]
[email protected]
Ariel Property Advisors | Building Results | 122 East 42nd Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
-$9,000
$112,935
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 the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, 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 contained herein. December 8, 2014 12:20 PM
5 East 115th Street, New York NY 10029 Five (5) Story Mixed Use Building, 15 Units | FOR SALE Rent Roll Unit
Actual / Projected
# of Rooms
Legal Rent
Status
Monthly Rent
Lease Exp.
1R
Actual
4
$1,570
7/31/2016
2R
Actual
4
$1,372
7/31/2015
2E
Actual
4
2W
Actual
4
3R
Actual
4
3E
Actual
4
3W
Actual
4
4R
Actual
$2,128
Pref
$1,800
1/31/2015
$1,458
10/31/2016
$1,142
10/31/2015
$1,742
Pref
$1,600
5/31/2015
$1,201
8/31/2015
4
$2,180
Pref
$1,750
4/30/2015
$1,825
Pref
4E
Actual
4
4W
Actual
4
5R
Actual
4
5E
Actual
4
$2,026
$1,750
9/1/2016
$1,039
12/31/2015
$1,031
10/31/2015
Pref
$1,750
7/31/2016
5W
Actual
4
$1,482
7/31/2015
Deli
Actual
-
Comm
$2,150
8/31/2015
Barber Shop
Actual
-
Comm
$2,250
5/31/2016
Storage
Actual
-
$450
3/14/2015
Total Monthly Rent
$23,795
Total Annual Rent
$285,540
Total # of Units
15
Location Map
3D View
Marcus Garvey Park
Subject Property
Central Park
Asking Price: $3,800,000 For More Information Please Contact Our Exclusive Sales Agents Michael Tortorici
Victor Sozio
Marko Agbaba
Jesse Deutch
212.544.9500 x.13
212.544.9500 x.12
212.544.9500 ext. 32
212.544.9500 ext.18
[email protected]
[email protected]
[email protected]
[email protected]
Ariel Property Advisors | Building Results | 122 East 42nd Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
5 East 115th Street, New York NY 10029 Five (5) Story Mixed Use Building, 15 Units | FOR SALE Asking Price
$3,800,000
Location:
The subject property is located on the north side of East 115th Street between 5th Avenue and Madison Avenue
Block / Lot:
1621 / 6
Number of Units:
15
Cost per Sq. Ft.:
$387
Current CAP:
4.32%
Lot Size:
25' x 110'
Lot Area:
2,750
Zoning (FAR):
R7-2 (3.44)
Building Size:
25' x 86'
Building Area:
9,810
Assessment (14/15):
$567,000
Taxes (14/15):
$72,888
(Approx.) Sq. Ft. (Approx.)
Sq. Ft. (Approx.)
Investment Highlights
Tax Map
5 East 115th Street is a 25’ wide, five (5) story mixed-use building located on the north side of East 115th Street between 5th Avenue and Madison Avenue. The building contains fifteen (15) units, of which there are thirteen (13) residential, all of which are rent stabilized, and two (2) commercial units. Nine (9) of the apartments are 2-bedroom units and four (4) are railroad style one-bedroom units. Combined, the deli units pay 10% of the total tax bill and 15% of water & sewer bill. Recent renovations include new roof, electric meters, gas boiler, and pointing front and side. Easy access to all downtown locations are provided by the 6 train located on Lexington Avenue and East 116th Street. With its excellent condition, cash flow with upside and accessible location, 5 East 115th Street stands out as a prime East Harlem multifamily opportunity.
East 116th Street
5th Avenue
1621
6 East 115th Street
Building Financials Current Roll Scheduled Gross Income: Less Vacancy Rate Reserve (3%): Gross Operating Income: Less Expenses: Net Operating Income:
Combined Estimated Expenses
$285,540
Real Estate Taxes (14/15)
($8,566)
Water & Sewer (1)
$72,888 $12,366 (2)
$276,974
Comm. Tenant Exp. Passthrough
($112,935)
40%
% of SGI
Insurance
$3,410
$164,039
4.32%
CAP rate
Con Edison (Gas & Electric)
$17,200
Payroll
$6,000
Repairs & Maintenence
$2,000
Management
$8,071
Gross Operating Expenses (1) Water & Sewer exp. based on Frontage. (2) Deli pays 10% of total Real Estate Taxes and 15% of Water & Sewer expenses.
Asking Price: $3,800,000 For More Information Please Contact Our Exclusive Sales Agents Michael Tortorici
Victor Sozio
Marko Agbaba
Jesse Deutch
212.544.9500 x.13
212.544.9500 x.12
212.544.9500 ext. 32
212.544.9500 ext.18
[email protected]
[email protected]
[email protected]
[email protected]
Ariel Property Advisors | Building Results | 122 East 42nd Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
-$9,000
$112,935
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 the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, 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 contained herein. December 8, 2014 12:20 PM
5 East 115th Street, New York NY 10029 Five (5) Story Mixed Use Building, 15 Units | FOR SALE Rent Roll Unit
Actual / Projected
# of Rooms
Legal Rent
Status
Monthly Rent
Lease Exp.
1R
Actual
4
$1,570
7/31/2016
2R
Actual
4
$1,372
7/31/2015
2E
Actual
4
2W
Actual
4
3R
Actual
4
3E
Actual
4
3W
Actual
4
4R
Actual
$2,128
Pref
$1,800
1/31/2015
$1,458
10/31/2016
$1,142
10/31/2015
$1,742
Pref
$1,600
5/31/2015
$1,201
8/31/2015
4
$2,180
Pref
$1,750
4/30/2015
$1,825
Pref
4E
Actual
4
4W
Actual
4
5R
Actual
4
5E
Actual
4
$2,026
$1,750
9/1/2016
$1,039
12/31/2015
$1,031
10/31/2015
Pref
$1,750
7/31/2016
5W
Actual
4
$1,482
7/31/2015
Deli
Actual
-
Comm
$2,150
8/31/2015
Barber Shop
Actual
-
Comm
$2,250
5/31/2016
Storage
Actual
-
$450
3/14/2015
Total Monthly Rent
$23,795
Total Annual Rent
$285,540
Total # of Units
15
Location Map
3D View
Marcus Garvey Park
Subject Property
Central Park
Asking Price: $3,800,000 For More Information Please Contact Our Exclusive Sales Agents Michael Tortorici
Victor Sozio
Marko Agbaba
Jesse Deutch
212.544.9500 x.13
212.544.9500 x.12
212.544.9500 ext. 32
212.544.9500 ext.18
[email protected]
[email protected]
[email protected]
[email protected]
Ariel Property Advisors | Building Results | 122 East 42nd Street, Suite 1015 - New York NY 10168 | 212.544.9500 | arielpa.com
