539 West 148th Street HAMILTON HEIGHTS
One Pierrepont Plaza, Fl. 9, Brooklyn, New York 11201
539 West 148th Street HAMILTON HEIGHTS, MANHATTAN
6 Unit Walkup Building, 3 Vacant, 4,000 SF of Air Rights
FOR SALE BUILDING FEATURES Block / Lot
2080 / 14
Lot Dimensions
25’ x 99.9’
Lot Size
2,498 sq ft (approx.)
Floors
2
Building Dimensions
25’ x 74
Units
6
Gross Square Footage
3,412 sq ft (approx.)
ZONING FEATURES Zoning
R6A
FAR
3.00
Total Buildable Sq. Ft.
7,494 sq ft
Minus Existing ZFA
3,412 sq ft (approx.)
Available Air Rights
4,082 sq ft (approx.)
PROPERTY TAXES Assessment (16/17)
$60,404
Taxes (16/17)
$7,782
ASKING PRICE - $1,750,000 PROPERTY HIGHLIGHTS
Cushman & Wakefield had been retained on an exclusive basis to arrange for the sale of 539 West 148th Street in the Hamilton Heights neighborhood of Manhattan. •
• • • WEST 149 STREET
BROADWAY
AMSTERDAM AVENUE
WEST 148 STREET
The subject property is a two story building with an above grade basement, located on the brownstone block of 148th Street, between Broadway and Amsterdam Avenue. The building consists of 6 residential units, 3 of which are currently vacant. The super unit in the basement suggests future duplex potential. The 3,412 SF building is 25’ x 74’ with air shafts, allowing plenty of light and air into the residential units. The roof and mechanicals are in good condition. The as-of-right zoning allows for 7,494 buildable SF of air-rights, less existing structure, presenting significant development upside in the future. FOR MORE INFORMATION OR A COMPLIMENTARY OPINION OF VALUE, PLEASE CONTACT:
DJ JOHNSTON Director (718) 307-6515 | [email protected] ERIC ROTH Associate (212) 660-7757 [email protected]
NATHANIEL RAHIMZADA Associate (212) 660-7732 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information containing herein, and same is submitted subject to errors, omissions change of price, retail, or other conditions, without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
One Pierrepont Plaza, Fl. 9, Brooklyn, New York 11201
539 West 148th Street HAMILTON HEIGHTS, MANHATTAN
6 Unit Walkup Building, 3 Vacant, 4,000 SF of Air Rights
FOR SALE UNIT
TYPE
STATUS
ACTUAL RENT
MARKET RENT
Ground
* SUPER UNIT / STORAGE
VACANT
--
--
1st Fl. - Front
STUDIO
VACANT
$1,500
$1,500
1st Fl. - Center
1 BEDROOM
VACANT
$1,800
$1,800
1st Fl. - Rear
1 BEDROOM
RS
$881
$1,800
2nd Fl. - Front
1 BEDROOM
RS
$746
$1,800
2nd Fl. - Center
1 BEDROOM
VACANT
$1,800
$1,800
2nd Fl. - Rear
1 BEDROOM
RS
$790
$1,800
* Super unit is represented on C/O as “Storage”
GROSS MONTHLY RESIDENTIAL RENT
$ 7,518
$10,500
GROSS ANNUAL RESIDENTIAL RENT
$90,214
$126,000
AVERAGE RENT PER UNIT
$1,253
$1,750
$26
$37
AVERAGE RENT PER GROSS SQUARE FOOT
RESIDENTIAL REVENUE Gross Annual Residential Revenue
$90,214
Vacancy Allowance / Credit Loss
@ 3%
of Gross Annual Revenue
$2,706
Effective Gross Annual Residential Revenue
$87,508 EXPENSES Adjusted Taxes (16/17)
CW PROJECTED NYC DOF TAX BILL
$7,782
$1,000 / UNIT
$6,000
Insurance
$400 / UNIT
$2,400
Fuel
$1.00 / GSF
$3,412
Water/Sewer
Electric (Common Area)
$0.15 GSF
$512
$550 / UNIT
$3,300
Cleaning & Maintenance
$400 / MONTH
$4,800
General & Administrative
$250 / UNIT
$1,500
3% / EGR
$2,625
Repairs
Management TOTAL EXPENSES
$32,331
Effective Gross Annual Residential Review
$87,508
Less Expenses
$32,331
Net Operating Income
$55,177
FOR MORE INFORMATION OR A COMPLIMENTARY OPINION OF VALUE, PLEASE CONTACT:
Cushman & Wakefied One Pierrepont Plaza, Fl. 9, Brooklyn, New York 11201
DJ JOHNSTON Director (718) 307-6515 [email protected]
ERIC ROTH Associate (212) 660-7757 [email protected]
NATHANIEL RAHIMZADA Associate (212) 660-7732 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information containing herein, and same is submitted subject to errors, omissions change of price, retail, or other conditions, without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
539 West 148th Street HAMILTON HEIGHTS, MANHATTAN
6 Unit Walkup Building, 3 Vacant, 4,000 SF of Air Rights
FOR SALE BUILDING FEATURES Block / Lot
2080 / 14
Lot Dimensions
25’ x 99.9’
Lot Size
2,498 sq ft (approx.)
Floors
2
Building Dimensions
25’ x 74
Units
6
Gross Square Footage
3,412 sq ft (approx.)
ZONING FEATURES Zoning
R6A
FAR
3.00
Total Buildable Sq. Ft.
7,494 sq ft
Minus Existing ZFA
3,412 sq ft (approx.)
Available Air Rights
4,082 sq ft (approx.)
PROPERTY TAXES Assessment (16/17)
$60,404
Taxes (16/17)
$7,782
ASKING PRICE - $1,750,000 PROPERTY HIGHLIGHTS
Cushman & Wakefield had been retained on an exclusive basis to arrange for the sale of 539 West 148th Street in the Hamilton Heights neighborhood of Manhattan. •
• • • WEST 149 STREET
BROADWAY
AMSTERDAM AVENUE
WEST 148 STREET
The subject property is a two story building with an above grade basement, located on the brownstone block of 148th Street, between Broadway and Amsterdam Avenue. The building consists of 6 residential units, 3 of which are currently vacant. The super unit in the basement suggests future duplex potential. The 3,412 SF building is 25’ x 74’ with air shafts, allowing plenty of light and air into the residential units. The roof and mechanicals are in good condition. The as-of-right zoning allows for 7,494 buildable SF of air-rights, less existing structure, presenting significant development upside in the future. FOR MORE INFORMATION OR A COMPLIMENTARY OPINION OF VALUE, PLEASE CONTACT:
DJ JOHNSTON Director (718) 307-6515 | [email protected] ERIC ROTH Associate (212) 660-7757 [email protected]
NATHANIEL RAHIMZADA Associate (212) 660-7732 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information containing herein, and same is submitted subject to errors, omissions change of price, retail, or other conditions, without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
One Pierrepont Plaza, Fl. 9, Brooklyn, New York 11201
539 West 148th Street HAMILTON HEIGHTS, MANHATTAN
6 Unit Walkup Building, 3 Vacant, 4,000 SF of Air Rights
FOR SALE UNIT
TYPE
STATUS
ACTUAL RENT
MARKET RENT
Ground
* SUPER UNIT / STORAGE
VACANT
--
--
1st Fl. - Front
STUDIO
VACANT
$1,500
$1,500
1st Fl. - Center
1 BEDROOM
VACANT
$1,800
$1,800
1st Fl. - Rear
1 BEDROOM
RS
$881
$1,800
2nd Fl. - Front
1 BEDROOM
RS
$746
$1,800
2nd Fl. - Center
1 BEDROOM
VACANT
$1,800
$1,800
2nd Fl. - Rear
1 BEDROOM
RS
$790
$1,800
* Super unit is represented on C/O as “Storage”
GROSS MONTHLY RESIDENTIAL RENT
$ 7,518
$10,500
GROSS ANNUAL RESIDENTIAL RENT
$90,214
$126,000
AVERAGE RENT PER UNIT
$1,253
$1,750
$26
$37
AVERAGE RENT PER GROSS SQUARE FOOT
RESIDENTIAL REVENUE Gross Annual Residential Revenue
$90,214
Vacancy Allowance / Credit Loss
@ 3%
of Gross Annual Revenue
$2,706
Effective Gross Annual Residential Revenue
$87,508 EXPENSES Adjusted Taxes (16/17)
CW PROJECTED NYC DOF TAX BILL
$7,782
$1,000 / UNIT
$6,000
Insurance
$400 / UNIT
$2,400
Fuel
$1.00 / GSF
$3,412
Water/Sewer
Electric (Common Area)
$0.15 GSF
$512
$550 / UNIT
$3,300
Cleaning & Maintenance
$400 / MONTH
$4,800
General & Administrative
$250 / UNIT
$1,500
3% / EGR
$2,625
Repairs
Management TOTAL EXPENSES
$32,331
Effective Gross Annual Residential Review
$87,508
Less Expenses
$32,331
Net Operating Income
$55,177
FOR MORE INFORMATION OR A COMPLIMENTARY OPINION OF VALUE, PLEASE CONTACT:
Cushman & Wakefied One Pierrepont Plaza, Fl. 9, Brooklyn, New York 11201
DJ JOHNSTON Director (718) 307-6515 [email protected]
ERIC ROTH Associate (212) 660-7757 [email protected]
NATHANIEL RAHIMZADA Associate (212) 660-7732 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information containing herein, and same is submitted subject to errors, omissions change of price, retail, or other conditions, without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
