Presentation title - Massey Knakal
FULLY-OCCUPIED 8-UNIT WALK-UP BRICK BUILDING 99-21 43RD AVENUE, CORONA NEW YORK 11368 FOR SALE
Reduced Asking Price: $2,270,000 Building Features Block / Lot
1617 / 29 25’ x 80’
Building Size Building Square Feet
7,517 (approx.)
Lot Dimensions
25’ x 100’
Lot Square Feet
2,500 (approx.)
Zoning
C2-3 / R6B
Stories
4
Year Built
1931
Residential Units
8
Assessed Value
$170,691
Taxes (15/16)
$21,990
Property Highlights Cushman & Wakefield has been retained on an exclusive basis for the sale of the subject property, a fully occupied eight-unit walk-up brick apartment building in Corona The building is a mix of (1) one-bedroom, and (7) two-bedrooms. All of the units with the exception of (1) two-bedroom are leased on a month-to-month basis. Unit 4 is leased through April of 2017. The units are rent stabilized and currently 40% below market. The average market rents in the Corona area are $25-$30 per square foot. The property is conveniently located a few blocks south of Roosevelt Avenue which provides easy access to the 7 train at 103rd Street. 103rd Street provides convenience, constant commercial activity, and heavy foot traffic. The Q23 bus line also runs along 43rd Avenue for additional transportation. Great opportunity for an investor in a densely populated area of Northern Queens. Close to the LaGuardia Airport, CitiField, Arthur Ashe Stadium and within blocks of numerous public schools. For More Information, Please Contact: Stephen R. Preuss Executive Director (718) 512 2118 [email protected]
Denise Prevete Senior Associate (718) 512 2605 [email protected]
Kevin Louie Associate (718) 512 2627 [email protected]
Cushman & Wakefield 118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 phone: +1 (718) 275 3400 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
99-21 43RD AVENUE, CORONA Revenue Unit
Type
Monthly Rent
Annual Rent
LXP
1F
One-Bedroom
$1,400.00
$16,800.00
M-M
1R
Two-Bedroom
$1,194.00
$14,328.00
M-M
2
Two-Bedroom
$1,500.00
$18,000.00
M-M
3
Two-Bedroom
$1,500.00
$18,000.00
M-M
4
Two-Bedroom
$840.00
$10,080.00
4-30-2017
5
Two-Bedroom
$1,604.00
$19,248.00
M-M
6
Two-Bedroom
$1,750.00
$21,000.00
M-M
7
Two-Bedroom
$1,392.00
$16,704.00
M-M
$11,180.00
$134,160.00
Total
Expenses
Annually Actual
$21,990.00
Insurance
Per Owner
$3,500.00
Water & Sewer
Per Owner
$3,000.00
Electric
Per Owner
$1,200.00
Super
Per Owner
$2,400.00
Gas
Per Owner
$7,200.00
Repairs & Maintenance
$0.50 / SF
$3,758.00
Real Estate Taxes
Total Expenses
$43,048.00
Net Operating Income
$91,112.00
Tax Map
For More Information, Please Contact: Stephen R. Preuss Executive Director (718) 512 2118 [email protected]
Denise Prevete Senior Associate (718) 512 2605 [email protected]
Kevin Louie Associate (718) 512 2627 [email protected]
Subway Map
Cushman & Wakefield 118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 phone: +1 (718) 275 3400 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
99-21 43RD AVENUE, CORONA
For More Information, Please Contact: Stephen R. Preuss Executive Director (718) 512 2118 [email protected]
Denise Prevete Senior Associate (718) 512 2605 [email protected]
Kevin Louie Associate (718) 512 2627 [email protected]
Cushman & Wakefield 118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 phone: +1 (718) 275 3400 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
Reduced Asking Price: $2,270,000 Building Features Block / Lot
1617 / 29 25’ x 80’
Building Size Building Square Feet
7,517 (approx.)
Lot Dimensions
25’ x 100’
Lot Square Feet
2,500 (approx.)
Zoning
C2-3 / R6B
Stories
4
Year Built
1931
Residential Units
8
Assessed Value
$170,691
Taxes (15/16)
$21,990
Property Highlights Cushman & Wakefield has been retained on an exclusive basis for the sale of the subject property, a fully occupied eight-unit walk-up brick apartment building in Corona The building is a mix of (1) one-bedroom, and (7) two-bedrooms. All of the units with the exception of (1) two-bedroom are leased on a month-to-month basis. Unit 4 is leased through April of 2017. The units are rent stabilized and currently 40% below market. The average market rents in the Corona area are $25-$30 per square foot. The property is conveniently located a few blocks south of Roosevelt Avenue which provides easy access to the 7 train at 103rd Street. 103rd Street provides convenience, constant commercial activity, and heavy foot traffic. The Q23 bus line also runs along 43rd Avenue for additional transportation. Great opportunity for an investor in a densely populated area of Northern Queens. Close to the LaGuardia Airport, CitiField, Arthur Ashe Stadium and within blocks of numerous public schools. For More Information, Please Contact: Stephen R. Preuss Executive Director (718) 512 2118 [email protected]
Denise Prevete Senior Associate (718) 512 2605 [email protected]
Kevin Louie Associate (718) 512 2627 [email protected]
Cushman & Wakefield 118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 phone: +1 (718) 275 3400 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
99-21 43RD AVENUE, CORONA Revenue Unit
Type
Monthly Rent
Annual Rent
LXP
1F
One-Bedroom
$1,400.00
$16,800.00
M-M
1R
Two-Bedroom
$1,194.00
$14,328.00
M-M
2
Two-Bedroom
$1,500.00
$18,000.00
M-M
3
Two-Bedroom
$1,500.00
$18,000.00
M-M
4
Two-Bedroom
$840.00
$10,080.00
4-30-2017
5
Two-Bedroom
$1,604.00
$19,248.00
M-M
6
Two-Bedroom
$1,750.00
$21,000.00
M-M
7
Two-Bedroom
$1,392.00
$16,704.00
M-M
$11,180.00
$134,160.00
Total
Expenses
Annually Actual
$21,990.00
Insurance
Per Owner
$3,500.00
Water & Sewer
Per Owner
$3,000.00
Electric
Per Owner
$1,200.00
Super
Per Owner
$2,400.00
Gas
Per Owner
$7,200.00
Repairs & Maintenance
$0.50 / SF
$3,758.00
Real Estate Taxes
Total Expenses
$43,048.00
Net Operating Income
$91,112.00
Tax Map
For More Information, Please Contact: Stephen R. Preuss Executive Director (718) 512 2118 [email protected]
Denise Prevete Senior Associate (718) 512 2605 [email protected]
Kevin Louie Associate (718) 512 2627 [email protected]
Subway Map
Cushman & Wakefield 118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 phone: +1 (718) 275 3400 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
99-21 43RD AVENUE, CORONA
For More Information, Please Contact: Stephen R. Preuss Executive Director (718) 512 2118 [email protected]
Denise Prevete Senior Associate (718) 512 2605 [email protected]
Kevin Louie Associate (718) 512 2627 [email protected]
Cushman & Wakefield 118-35 Queens Boulevard, 14th Floor Forest Hills, NY 11375 phone: +1 (718) 275 3400 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness 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 the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
