523B EAST 85TH STREET New York, NY 10028
TOWNHOUSE LIVING WITH PRIVATE GARAGE PLUS INCOME POTENTIAL FOR FUTURE EXPANSION
523B EAST 85TH STREET New York, NY 10028 PROPERTY INFORMATION LOCATION:
Located on the north side of 85th Street between York and East End Avenue
BLOCK / LOT:
1582/13
LOT DIMENSIONS:
25’ x 102.17’
(SF Approx.)
LOT AREA:
2,554
(SF Approx.)
BUILDING SIZE BASEMENT:
25’ x 72’ SF
= 1,200
(SF Approx.)
GROUND FLOOR:
25’ x 72’ SF
= 1,800
(SF Approx.)
SECOND FLOOR:
25’ x 72’ SF
= 1,728
(SF Approx.)
THIRD FLOOR;
25’ x 72’ SF
= 1,728
(SF Approx.)
FOURTH FLOOR:
25’ x 72’ SF
= 1,728
(SF Approx.)
FIFTH FLOOR:
25’ x 72’ SF
= 1,728
(SF Approx.)
BUILDING INFORMATION GROSS SQUARE FOOTAGE:
9,912
STORIES:
5
NUMBER OF UNITS:
7
ZONING / FAR:
R8B/4.0
BUILDABLE SQUARE FOOTAGE:
10,216
(SF Approx.)
EXISTING SQUARE FOOTAGE:
9,912
(SF Approx.)
DEVELOPMENT RIGHTS:
304
HISTORIC DISTRICT/LANDMARK:
No
TAX ASSESMENT (15/16):
$441,000
REAL ESTATE TAXES (15/16):
$56,691
(SF Approx.)
(Subj. to Sliver Law) (SF Approx.)
PROPERTY DESCRIPTION: Cushman and Wakefield has been retained on an exclusive basis to arrange the Sale of 523B East 85th Street located on the north side of East 85th Street between York and East End Avenue. The highlight of this property is a newly renovated owner’s triplex that spans the majority of the lower level, the entire ground floor, and entire 2nd floor and includes a private garage that provides easy access for a
A SK IN G P RI CE : $10, 6 0 0 ,0 0 0 R EDU CE D P RI CE : $ 9 ,600, 0 0 0
weekend getway or commuting on a daily basis. The building is configured as seven total residential units including the Owner’s triplex, of which, two are Free Market, two are Rent Stabilized, and two are Rent Controlled. The property generates income from the above three floors that contain two units per floor. Just steps away from the beautiful and serene Carl Schurz Park, 523B East 85th Street provides the rare opportunity for its next owner to enjoy the finest townhouse living in the heart of the Upper East Side.
For further information or inspection, please contact Exclusive Agents:
Thomas Gammino
Executive Vice President [email protected] 212.696.2500 x7727
Guthrie Garvin
Executive Director [email protected] 212.696.2500 x7786
Brett Weisblum
Associate Director [email protected] 212.696.2500 x7784
Michael Gembecki
Associate Director [email protected] 212.696.2500 x7743
Louis Marchetta
Associate [email protected] 212.696.2500 x5143
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
TOWNHOUSE LIVING WITH PRIVATE GARAGE PLUS INCOME POTENTIAL FOR FUTURE EXPANSION
523B EAST 85TH STREET New York, NY 10028 REVENUE: Unit Tenant 1/2 FM 3E RC 3W RS 4E RC 4W FM 5E RS 5W FM Projected Monthly Income: Projected Annual Income:
Lease Exp. 5/30/15 12/31/15 10/31/15 11/30/15
SF 4,020 734 734 734 734 734 734
$/SF $80.60 $4.84 $28.46 $4.44 $62.13 $15.79 $62.13 $36.91
Monthly Rent $ 27,000.00 $ 296.18 $ 1,741.00 $ 271.78 $ 3,800.00 $ 966.00 $ 3,800.00 $ 37,874.96 $ 454,499.52
2015 EXPENSES: (ACTUAL) Real Estate Taxes (15/16) Fuel Payroll Water & Sewer Insurance Electric Repairs & Maintenance Visting Super Management Total Expenses:
$ $ $ $ $ $ $ $ $ $
56,691 14,656 9,000 12,563 6,281 4,188 6,281 5,000 13,090 127,750
Gross Annual Income: Less Expenses: Net Operating Income:
$ $ $
454,500 127,750 326,750
For further information or inspection, please contact Exclusive Agents:
Thomas Gammino
Executive Vice President [email protected] 212.696.2500 x7727
Guthrie Garvin
Executive Director [email protected] 212.696.2500 x7786
Brett Weisblum
Associate Director [email protected] 212.696.2500 x7784
Michael Gembecki
Associate Director [email protected] 212.696.2500 x7743
Louis Marchetta
Associate [email protected] 212.696.2500 x5143
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
TOWNHOUSE LIVING WITH PRIVATE GARAGE PLUS INCOME POTENTIAL FOR FUTURE EXPANSION
523B EAST 85TH STREET New York, NY 10028
For further information or inspection, please contact Exclusive Agents:
Thomas Gammino
Executive Vice President [email protected] 212.696.2500 x7727
Guthrie Garvin
Executive Director [email protected] 212.696.2500 x7786
Brett Weisblum
Associate Director [email protected] 212.696.2500 x7784
Michael Gembecki
Associate Director [email protected] 212.696.2500 x7743
Louis Marchetta
Associate [email protected] 212.696.2500 x5143
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
TOWNHOUSE LIVING WITH PRIVATE GARAGE PLUS INCOME POTENTIAL FOR FUTURE EXPANSION
523B EAST 85TH STREET New York, NY 10028
For further information or inspection, please contact Exclusive Agents:
Thomas Gammino
Executive Vice President [email protected] 212.696.2500 x7727
Guthrie Garvin
Executive Director [email protected] 212.696.2500 x7786
Brett Weisblum
Associate Director [email protected] 212.696.2500 x7784
Michael Gembecki
Associate Director [email protected] 212.696.2500 x7743
Louis Marchetta
Associate [email protected] 212.696.2500 x5143
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
523B EAST 85TH STREET New York, NY 10028 PROPERTY INFORMATION LOCATION:
Located on the north side of 85th Street between York and East End Avenue
BLOCK / LOT:
1582/13
LOT DIMENSIONS:
25’ x 102.17’
(SF Approx.)
LOT AREA:
2,554
(SF Approx.)
BUILDING SIZE BASEMENT:
25’ x 72’ SF
= 1,200
(SF Approx.)
GROUND FLOOR:
25’ x 72’ SF
= 1,800
(SF Approx.)
SECOND FLOOR:
25’ x 72’ SF
= 1,728
(SF Approx.)
THIRD FLOOR;
25’ x 72’ SF
= 1,728
(SF Approx.)
FOURTH FLOOR:
25’ x 72’ SF
= 1,728
(SF Approx.)
FIFTH FLOOR:
25’ x 72’ SF
= 1,728
(SF Approx.)
BUILDING INFORMATION GROSS SQUARE FOOTAGE:
9,912
STORIES:
5
NUMBER OF UNITS:
7
ZONING / FAR:
R8B/4.0
BUILDABLE SQUARE FOOTAGE:
10,216
(SF Approx.)
EXISTING SQUARE FOOTAGE:
9,912
(SF Approx.)
DEVELOPMENT RIGHTS:
304
HISTORIC DISTRICT/LANDMARK:
No
TAX ASSESMENT (15/16):
$441,000
REAL ESTATE TAXES (15/16):
$56,691
(SF Approx.)
(Subj. to Sliver Law) (SF Approx.)
PROPERTY DESCRIPTION: Cushman and Wakefield has been retained on an exclusive basis to arrange the Sale of 523B East 85th Street located on the north side of East 85th Street between York and East End Avenue. The highlight of this property is a newly renovated owner’s triplex that spans the majority of the lower level, the entire ground floor, and entire 2nd floor and includes a private garage that provides easy access for a
A SK IN G P RI CE : $10, 6 0 0 ,0 0 0 R EDU CE D P RI CE : $ 9 ,600, 0 0 0
weekend getway or commuting on a daily basis. The building is configured as seven total residential units including the Owner’s triplex, of which, two are Free Market, two are Rent Stabilized, and two are Rent Controlled. The property generates income from the above three floors that contain two units per floor. Just steps away from the beautiful and serene Carl Schurz Park, 523B East 85th Street provides the rare opportunity for its next owner to enjoy the finest townhouse living in the heart of the Upper East Side.
For further information or inspection, please contact Exclusive Agents:
Thomas Gammino
Executive Vice President [email protected] 212.696.2500 x7727
Guthrie Garvin
Executive Director [email protected] 212.696.2500 x7786
Brett Weisblum
Associate Director [email protected] 212.696.2500 x7784
Michael Gembecki
Associate Director [email protected] 212.696.2500 x7743
Louis Marchetta
Associate [email protected] 212.696.2500 x5143
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
TOWNHOUSE LIVING WITH PRIVATE GARAGE PLUS INCOME POTENTIAL FOR FUTURE EXPANSION
523B EAST 85TH STREET New York, NY 10028 REVENUE: Unit Tenant 1/2 FM 3E RC 3W RS 4E RC 4W FM 5E RS 5W FM Projected Monthly Income: Projected Annual Income:
Lease Exp. 5/30/15 12/31/15 10/31/15 11/30/15
SF 4,020 734 734 734 734 734 734
$/SF $80.60 $4.84 $28.46 $4.44 $62.13 $15.79 $62.13 $36.91
Monthly Rent $ 27,000.00 $ 296.18 $ 1,741.00 $ 271.78 $ 3,800.00 $ 966.00 $ 3,800.00 $ 37,874.96 $ 454,499.52
2015 EXPENSES: (ACTUAL) Real Estate Taxes (15/16) Fuel Payroll Water & Sewer Insurance Electric Repairs & Maintenance Visting Super Management Total Expenses:
$ $ $ $ $ $ $ $ $ $
56,691 14,656 9,000 12,563 6,281 4,188 6,281 5,000 13,090 127,750
Gross Annual Income: Less Expenses: Net Operating Income:
$ $ $
454,500 127,750 326,750
For further information or inspection, please contact Exclusive Agents:
Thomas Gammino
Executive Vice President [email protected] 212.696.2500 x7727
Guthrie Garvin
Executive Director [email protected] 212.696.2500 x7786
Brett Weisblum
Associate Director [email protected] 212.696.2500 x7784
Michael Gembecki
Associate Director [email protected] 212.696.2500 x7743
Louis Marchetta
Associate [email protected] 212.696.2500 x5143
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
TOWNHOUSE LIVING WITH PRIVATE GARAGE PLUS INCOME POTENTIAL FOR FUTURE EXPANSION
523B EAST 85TH STREET New York, NY 10028
For further information or inspection, please contact Exclusive Agents:
Thomas Gammino
Executive Vice President [email protected] 212.696.2500 x7727
Guthrie Garvin
Executive Director [email protected] 212.696.2500 x7786
Brett Weisblum
Associate Director [email protected] 212.696.2500 x7784
Michael Gembecki
Associate Director [email protected] 212.696.2500 x7743
Louis Marchetta
Associate [email protected] 212.696.2500 x5143
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
TOWNHOUSE LIVING WITH PRIVATE GARAGE PLUS INCOME POTENTIAL FOR FUTURE EXPANSION
523B EAST 85TH STREET New York, NY 10028
For further information or inspection, please contact Exclusive Agents:
Thomas Gammino
Executive Vice President [email protected] 212.696.2500 x7727
Guthrie Garvin
Executive Director [email protected] 212.696.2500 x7786
Brett Weisblum
Associate Director [email protected] 212.696.2500 x7784
Michael Gembecki
Associate Director [email protected] 212.696.2500 x7743
Louis Marchetta
Associate [email protected] 212.696.2500 x5143
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
