Exclusive Offering Memorandum 3621-3629 Broadway
ERGPA.COM
Exclusive Offering Memorandum 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
ERG Property Advisors - 212.807.6640 – www.ergpa.com
Exclusive Offering Memorandum
3621-3629 Broadway aka 601 W. 149th Street Presented By: Matthew Sparks Partner 646.253.0904 – [email protected] Oren Neria Senior Associate 646.253.0935 – [email protected] Zak Jacoby Senior Associate 646.253.0981 – [email protected]
ERG Property Advisors 20 West 20th Street – Suite 703 New York, NY 10011 (P) 212.807.6640 (F) 212.807.0534 www.ergpa.com August 2012
CONFIDENTIALITY & CONDITIONS CONFIDENTIAL OFFERING MEMORANDUM The following information is confidential and intended solely for your limited use and benefit in determining whether you desire to express any further interest in the purchase of 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031(the “Property”). This information was prepared by ERG Property Advisors, (“ERG”). This package does not contain all of the information which a prospective purchaser may desire. It should be noted that all financial projections are provided for general reference purposes only in that they are based on assumptions and are subject to material variation. Neither Owner, “ERG,” nor any of their respective officers nor employees, have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this package or any of its contents, and no legal commitments or obligations shall arise by reason of this brochure or any of its contents. All square footage measurements must be independently verified. Owner shall have no legal commitment or obligation to any entity reviewing this information. By receipt of this information, you agree that this brochure and its contents are of a confidential nature, that you hold and treat it in the strictest confidence, and that you will not disclose this brochure or any of its contents to any other entity without the prior written authorization of Owner nor will you use this brochure or any of its contents in any manner detrimental to the interest of Owner or “ERG”. While this brochure contains physical description information, there are no references to condition. Neither Owner nor “ERG” make any representation as to the physical condition of the Property. Prospective purchasers should conduct their own independent engineering report to verify property condition. Interested parties are expected to review independently all relevant documents provided herein. The terms and conditions stated in this section will relate to all of the sections of the brochure as if stated independently therein. Photocopying or other duplication is not authorized.
TABLE OF CONTENTS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
1. PROPERTY SUMMARY A. BUILDING PHOTO B. PROPERTY INFORMATION C. RENT ROLL D. INVESTMENT OVERVIEW E. PHOTOGRAPHS
PAGE PAGE PAGE PAGE PAGE
2. NEIGHBORHOOD A. NATIONAL RETAIL B. NEIGHBORHOOD RETAIL C. LOCATION MAPS
PAGE 10 PAGE 11 PAGE 12
3. PROPERTY DETAILS A. SAMPLE APARTMENT FLOOR PLANS B. SAMPLE RETAIL FLOOR PLANS
1 2 3 5 6
PAGE 13 PAGE 18
BUILDING PHOTOGRAPH 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
1
FOR FURTHER INFORMATION OR TO MAKE AN APPOINTMENT, PLEASE CONTACT:
MATTHEW SPARKS 646.253.0904 [email protected]
SIX STORY MIXED-USE ELEVATOR APARTMENT BUILDING FOR SALE
3621 BROADWAY AKA 601 WEST 149TH STREET, NEW YORK, NY 10031 LOCATION:
Northwest corner of Broadway and West 149th Street
DESCRIPTION:
6 story elevator building with 45 apartments, 8 store units and 1 supers, basement apartment
SIZE (APPROX.):
LOT: 99.92’ x 160’
LOT SF: 15,987
BLDG: 99’ x 148’
RES. SF: 60,050
COM. SF: 5,000
AIR RIGHTS: 31,174
REVENUE (Apartments); Rent-Decontrolled Rent-Controlled Rent-Stabilized Total Apartment Revenue REVENUE (Commercial); Retail/Commercial Revenue Miscellaneous Total Commercial Revenue
Gross Annual Income: EXPENSES: (ESTIMATED) Real Estate Taxes (11/12) Water/Sewer Insurance Fuel* Electric & Gas Super & Porter Maintenance & Repair Management (3%) Total Expense: Estimated Net Operating Income:
BLDG SF: 65,050
$867,908 $38,191 $196,633 $1,102,732
$389,202 $11,275 $400,477
$1,503,208
$232,686 $75,616 $20,336 BLOCK/LOT: 2096/26 ZONING: C1-4/R8 $75,000 ALLOWABLE FAR: 6.0 $17,500 FAR AS BUILT: 4.07 $66,190 $50,000 LAYOUT: 2/2 Bedrooms 27/3 Bedrooms $42,132 12/4 Bedrooms 2 Bath 4/5 Bedrooms 2 Bath = $579,459 $923,749 259 Rooms + Super Apartment.
PROPERTY HIGHLIGHTS: Prime elevator apartment building with 6 storefront spaces and 45 large and spacious apartments. Close to public transportation and beautiful River Side Drive parks. *Current ownership will deliver the building with a new modular gas-fired boiler which will be much more efficient than the current oil-burning setup.
ASKING PRICE: $16,500,000 2
Investment Highlights
• • • • • • •
•
Large pre-war elevator apartment building with 100’ of retail frontage on Broadway Very desirable and spacious 3,4 and 5 bedroom apartments 50% of the apartments renovated to a luxury standard while 50 % remain positioned to capture significant upside Rents on the renovated apartments are in the $20’s per sq.ft. range while the Manhattan average is in the low $60’s per sq.ft. range. Well positioned asset in a rapidly growing market with very high rental demand Superior subway access via. The 145th street express subway lines The Columbia expansion plan now in effect and being executed over the next 10 years will have a tremendous positive impact on this asset and the surrounding area The building will be delivered with a brand new state of the art modular gas- fired boiler and heating plant which will significantly reduce heating costs for the new owner
RENT ROLL 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031 Unit Reference Occupant Number Name
Bedrms
Bathrms
Monthly Rent
Rent Per Square Feet
Square Feet
Lease Starting Date
Lease Exp Date
601-1
May, Rebertha
672.39
Rent-Stabilized
2
1
0
0.00/yr
8/01/12
7/31/2014
601-2
Patterson, Pearl
725.85
Rent-Stabilized
3
1
0
0.00/yr
1/01/12
12/31/2013
601-3
Harris, Robin
679.11
Rent-Stabilized
2
1
0
0.00/yr
9/01/10
8/31/2012
601-4
Liriano, Antonio
1,436.64
Rent-Stabilized
3
1
0
0.00/yr
5/01/12
4/30/2013
601-5
Sinergia, Inc.
2,754.77
Rent-Decontrol
3
1
0
0.00/yr
1/01/09
11/30/2012
601-21
Walston, Flora
768.76
Rent-Control
2
1
0
0.00/yr
601-22
Siarkowska, Sylwia
2,700.00
Rent-Decontrol
4
2
0
0.00/yr
6/15/12
6/30/2013
601-23
Santucci, Zak
2,950.00
Rent-Decontrol
3
1
0
0.00/yr
11/01/11
10/31/2012
601-25
Acosta, Roberto
855.00
Rent-Stabilized
3
1
0
0.00/yr
12/01/06
11/30/2008
601-26
Romero, Victor
650.30
Rent-Control
4
2
0
0.00/yr
601-27
VACANT
3,000.00
under renovation
3
1
0
0.00/yr
601-28
VACANT
3,000.00
3
1
0
0.00/yr
601-29
Sinergia, Inc.
2,718.71
Rent-Decontrol
4
2
0
0.00/yr
1/01/09
11/30/2012
601-31
VACANT
3,000.00
Rent-Decontrol
3
2
0
0.00/yr
11/01/11
10/31/2012
601-32
Green Chimneys Children's Serv
3,115.75
Rent-Decontrol
4
2
0
0.00/yr
5/01/12
4/30/2013
601-33
Garcia, Altagracia
577.20
Rent-Stabilized
3
1
0
0.00/yr
8/01/11
7/31/2013
601-34
Jamora, Elizabeth
3,037.50
Rent-Decontrol
4
2
0
0.00/yr
6/01/12
5/31/2014
601-35
Parks, Ebony
3,095.00
Rent-Decontrol
4
2
0
0.00/yr
9/01/10
8/31/2011
601-36
Rodriguez, Maria
1,161.45
Rent-Stabilized
3
1
0
0.00/yr
1/01/12
12/31/2013
601-37
VACANT
3,000.00
3
1
0
0.00/yr
601-38
VACANT
3,000.00
3
1
0
0.00/yr
601-41
Figueroa, Luisa
601-42 & 43 Dormitory Authority
952.10
Rent-Stabilized
3
1
0
0.00/yr
12/01/11
11/30/2013
8,912.50
Rent-Decontrol
8
4
0
0.00/yr
2/01/09
1/31/2014
731.77
Rent-Stabilized
3
2
0
0.00/yr
4/01/11
3/31/2013
601-44
Pabon, Arelys
601-45
Bueno, Nilda
635.98
Rent-Stabilized
4
2
0
0.00/yr
4/01/11
3/31/2013
601-46
Sinergia, Inc.
2,649.86
Rent-Decontrol
3
1
0
0.00/yr
1/01/09
11/30/2012
601-47
Alberto, Ana Guzman
654.44
Rent-Stabilized
3
1
0
0.00/yr
12/01/10
11/30/2012
601-48
VACANT
3,000.00
4
2
0
0.00/yr
601-51
Suarez, Martina
1,218.00
Rent-Stabilized
2
1
0
0.00/yr
5/01/11
4/30/2013
601-52
Sinergia, Inc.
2,895.73
Rent-Decontrol
3
2
0
0.00/yr
1/01/09
11/30/2012
601-53
Dormitory Authority
4,312.50
Rent-Decontrol
3
1
0
0.00/yr
2/01/09
1/31/2014
601-54
Middleton, Sheila West
655.16
Rent-Stabilized
3
1
0
0.00/yr
8/01/12
7/31/2014
601-55
Okeke, Michelle
3,200.00
Rent-Decontrol
4
2
0
0.00/yr
10/01/11
9/30/2012
601-56
Peralta, Jackeline
1,033.50
Rent-Stabilized
3
1
0
0.00/yr
9/01/12
8/31/2014
601-57
VACANT
3,000.00
3
1
0
0.00/yr
601-58
Herrera, Juanita
1,024.27
Rent-Stabilized
3
1
0
0.00/yr
8/01/12
7/31/2014
601-61
Rosso, Pofirio
1,202.38
Rent-Stabilized
2
1
0
0.00/yr
4/01/11
3/31/2013
601-62
Spruell, Sonia
991.67
Rent-Control
3
2
0
0.00/yr
601-63
Cuellar, Oscar
1,117.21
Rent-Stabilized
3
1
0
0.00/yr
8/01/11
7/31/2013
601-64
Sullivan, Michael
2,750.00
Rent-Decontrol
3
2
0
0.00/yr
5/01/12
4/30/2013
3
RENT ROLL 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031 Unit Reference Number
Bedrms Bathrms Occupant Name
Monthly Rent
Square Feet
Rent Per Square Feet
Lease Starting Date
3,400.00
Rent-Decontrol
4
2
0
0.00/yr
771.83
Rent-Control
3
1
0
0.00/yr
2
2
0
0.00/yr
3
1
Lease Exp Date
601-65
Lewis, Russell
601-66
Hollis, Inez
601-67
VACANT
601-68
Altagracia, Matista
886.96
Rent-Stabilized
0
0.00/yr
5/01/12
4/30/2013
601-ST1
3340 Broadway Pharmacy
7,600.62
Rent-Retail
1,200
76.01/yr
7/01/04
6/30/2014
601-ST3
MUNICIPAL CREDIT UNION
7,543.17
Rent-Retail
1,300
6.33/mth 69.63/yr
9/01/06
8/31/2016
601-ST4
White Rose Nails
2,562.31
Rent-Retail
600
5.80/mth 51.25/yr
1/01/09 12/30/2013
601-ST5
SP DENTAL, P.C.
7,032.58
Rent-Retail
1,215
4.27/mth 69.46/yr
8/01/10
601-ST7
SB Salon Unisex
3,490.83
Rent-Retail
450
5.79/mth 93.09/yr
601-ST8
Fernandez Beauty Aids-Health
2,704.00
Rent-Retail
325
7.76/mth 99.84/yr
601-ST9
VACANT
500.00
Rent-Retail
168
8.32/mth 99.84/yr
0
0.00/yr
300
40.00/yr
601-BSMT SUPER- Pedro Parrilla 601-ST10
VACANT
3,000.00
0.00 1,000.00
Rent-Retail
11/01/11 10/31/2012
7/31/2015
11/01/05 10/31/2015
8/19/09
8/31/2014
PROPERTY TOTALS : Total Occupied Rents
103,327.80
Total Vacant Rents
21,000.00
Total Gross Rents
124,327.80
Miscellaneous Annual Gross Rents
11,275.00 1,503,208.60
4
INVESTMENT ANALYSIS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 1003
Purchase Price: Closing costs: Total Investment: Debt @ 75% LTV: Equity Required: Total Capitalization:
$16,500,000 $825,000 $17,325,000 $12,375,000 $4,950,000 $17,325,000
Estimated Financing Option: $12,375,000 loan amount with an interest rate of 3.0% and a 30 year amortization schedule and a 5 year term.
NOI Before debt Service and collection loss: $923,749 Collection Loss: ( @ 3% of gross rent roll) ($45,096) Debt Service: ($626,076) ______________________________________________________ N.O.I After Debt Service: $252,577 Add back Amortization: $254,826 ______________________________________________________ Net Effective Income: $507,403 Initial Cap Rate: 5.3 Initial return on cash investment 10.3% Assuming a modest 5% annual increase in income over the next four years your return on the equity investment would be as follows: year 2: 11.7%, year 3: 13.2% year 4: 14.9% year 5: 16.6%.
5
PHOTOGRAPHS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
6
PHOTOGRAPHS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
7
PHOTOGRAPHS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
8
PHOTOGRAPHS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
9
NEIGHBORHOOD NATIONAL TENANTS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
10
NEIGHBORHOOD RETAIL 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
11
MAPS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
12
SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
13
SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
14
SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
15
SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
16
SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
17
SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
18
SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
19
SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
20
SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
21
SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
22
SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
23
SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
24
Exclusive Offering Memorandum 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
ERG Property Advisors - 212.807.6640 – www.ergpa.com
Exclusive Offering Memorandum
3621-3629 Broadway aka 601 W. 149th Street Presented By: Matthew Sparks Partner 646.253.0904 – [email protected] Oren Neria Senior Associate 646.253.0935 – [email protected] Zak Jacoby Senior Associate 646.253.0981 – [email protected]
ERG Property Advisors 20 West 20th Street – Suite 703 New York, NY 10011 (P) 212.807.6640 (F) 212.807.0534 www.ergpa.com August 2012
CONFIDENTIALITY & CONDITIONS CONFIDENTIAL OFFERING MEMORANDUM The following information is confidential and intended solely for your limited use and benefit in determining whether you desire to express any further interest in the purchase of 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031(the “Property”). This information was prepared by ERG Property Advisors, (“ERG”). This package does not contain all of the information which a prospective purchaser may desire. It should be noted that all financial projections are provided for general reference purposes only in that they are based on assumptions and are subject to material variation. Neither Owner, “ERG,” nor any of their respective officers nor employees, have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this package or any of its contents, and no legal commitments or obligations shall arise by reason of this brochure or any of its contents. All square footage measurements must be independently verified. Owner shall have no legal commitment or obligation to any entity reviewing this information. By receipt of this information, you agree that this brochure and its contents are of a confidential nature, that you hold and treat it in the strictest confidence, and that you will not disclose this brochure or any of its contents to any other entity without the prior written authorization of Owner nor will you use this brochure or any of its contents in any manner detrimental to the interest of Owner or “ERG”. While this brochure contains physical description information, there are no references to condition. Neither Owner nor “ERG” make any representation as to the physical condition of the Property. Prospective purchasers should conduct their own independent engineering report to verify property condition. Interested parties are expected to review independently all relevant documents provided herein. The terms and conditions stated in this section will relate to all of the sections of the brochure as if stated independently therein. Photocopying or other duplication is not authorized.
TABLE OF CONTENTS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
1. PROPERTY SUMMARY A. BUILDING PHOTO B. PROPERTY INFORMATION C. RENT ROLL D. INVESTMENT OVERVIEW E. PHOTOGRAPHS
PAGE PAGE PAGE PAGE PAGE
2. NEIGHBORHOOD A. NATIONAL RETAIL B. NEIGHBORHOOD RETAIL C. LOCATION MAPS
PAGE 10 PAGE 11 PAGE 12
3. PROPERTY DETAILS A. SAMPLE APARTMENT FLOOR PLANS B. SAMPLE RETAIL FLOOR PLANS
1 2 3 5 6
PAGE 13 PAGE 18
BUILDING PHOTOGRAPH 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
1
FOR FURTHER INFORMATION OR TO MAKE AN APPOINTMENT, PLEASE CONTACT:
MATTHEW SPARKS 646.253.0904 [email protected]
SIX STORY MIXED-USE ELEVATOR APARTMENT BUILDING FOR SALE
3621 BROADWAY AKA 601 WEST 149TH STREET, NEW YORK, NY 10031 LOCATION:
Northwest corner of Broadway and West 149th Street
DESCRIPTION:
6 story elevator building with 45 apartments, 8 store units and 1 supers, basement apartment
SIZE (APPROX.):
LOT: 99.92’ x 160’
LOT SF: 15,987
BLDG: 99’ x 148’
RES. SF: 60,050
COM. SF: 5,000
AIR RIGHTS: 31,174
REVENUE (Apartments); Rent-Decontrolled Rent-Controlled Rent-Stabilized Total Apartment Revenue REVENUE (Commercial); Retail/Commercial Revenue Miscellaneous Total Commercial Revenue
Gross Annual Income: EXPENSES: (ESTIMATED) Real Estate Taxes (11/12) Water/Sewer Insurance Fuel* Electric & Gas Super & Porter Maintenance & Repair Management (3%) Total Expense: Estimated Net Operating Income:
BLDG SF: 65,050
$867,908 $38,191 $196,633 $1,102,732
$389,202 $11,275 $400,477
$1,503,208
$232,686 $75,616 $20,336 BLOCK/LOT: 2096/26 ZONING: C1-4/R8 $75,000 ALLOWABLE FAR: 6.0 $17,500 FAR AS BUILT: 4.07 $66,190 $50,000 LAYOUT: 2/2 Bedrooms 27/3 Bedrooms $42,132 12/4 Bedrooms 2 Bath 4/5 Bedrooms 2 Bath = $579,459 $923,749 259 Rooms + Super Apartment.
PROPERTY HIGHLIGHTS: Prime elevator apartment building with 6 storefront spaces and 45 large and spacious apartments. Close to public transportation and beautiful River Side Drive parks. *Current ownership will deliver the building with a new modular gas-fired boiler which will be much more efficient than the current oil-burning setup.
ASKING PRICE: $16,500,000 2
Investment Highlights
• • • • • • •
•
Large pre-war elevator apartment building with 100’ of retail frontage on Broadway Very desirable and spacious 3,4 and 5 bedroom apartments 50% of the apartments renovated to a luxury standard while 50 % remain positioned to capture significant upside Rents on the renovated apartments are in the $20’s per sq.ft. range while the Manhattan average is in the low $60’s per sq.ft. range. Well positioned asset in a rapidly growing market with very high rental demand Superior subway access via. The 145th street express subway lines The Columbia expansion plan now in effect and being executed over the next 10 years will have a tremendous positive impact on this asset and the surrounding area The building will be delivered with a brand new state of the art modular gas- fired boiler and heating plant which will significantly reduce heating costs for the new owner
RENT ROLL 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031 Unit Reference Occupant Number Name
Bedrms
Bathrms
Monthly Rent
Rent Per Square Feet
Square Feet
Lease Starting Date
Lease Exp Date
601-1
May, Rebertha
672.39
Rent-Stabilized
2
1
0
0.00/yr
8/01/12
7/31/2014
601-2
Patterson, Pearl
725.85
Rent-Stabilized
3
1
0
0.00/yr
1/01/12
12/31/2013
601-3
Harris, Robin
679.11
Rent-Stabilized
2
1
0
0.00/yr
9/01/10
8/31/2012
601-4
Liriano, Antonio
1,436.64
Rent-Stabilized
3
1
0
0.00/yr
5/01/12
4/30/2013
601-5
Sinergia, Inc.
2,754.77
Rent-Decontrol
3
1
0
0.00/yr
1/01/09
11/30/2012
601-21
Walston, Flora
768.76
Rent-Control
2
1
0
0.00/yr
601-22
Siarkowska, Sylwia
2,700.00
Rent-Decontrol
4
2
0
0.00/yr
6/15/12
6/30/2013
601-23
Santucci, Zak
2,950.00
Rent-Decontrol
3
1
0
0.00/yr
11/01/11
10/31/2012
601-25
Acosta, Roberto
855.00
Rent-Stabilized
3
1
0
0.00/yr
12/01/06
11/30/2008
601-26
Romero, Victor
650.30
Rent-Control
4
2
0
0.00/yr
601-27
VACANT
3,000.00
under renovation
3
1
0
0.00/yr
601-28
VACANT
3,000.00
3
1
0
0.00/yr
601-29
Sinergia, Inc.
2,718.71
Rent-Decontrol
4
2
0
0.00/yr
1/01/09
11/30/2012
601-31
VACANT
3,000.00
Rent-Decontrol
3
2
0
0.00/yr
11/01/11
10/31/2012
601-32
Green Chimneys Children's Serv
3,115.75
Rent-Decontrol
4
2
0
0.00/yr
5/01/12
4/30/2013
601-33
Garcia, Altagracia
577.20
Rent-Stabilized
3
1
0
0.00/yr
8/01/11
7/31/2013
601-34
Jamora, Elizabeth
3,037.50
Rent-Decontrol
4
2
0
0.00/yr
6/01/12
5/31/2014
601-35
Parks, Ebony
3,095.00
Rent-Decontrol
4
2
0
0.00/yr
9/01/10
8/31/2011
601-36
Rodriguez, Maria
1,161.45
Rent-Stabilized
3
1
0
0.00/yr
1/01/12
12/31/2013
601-37
VACANT
3,000.00
3
1
0
0.00/yr
601-38
VACANT
3,000.00
3
1
0
0.00/yr
601-41
Figueroa, Luisa
601-42 & 43 Dormitory Authority
952.10
Rent-Stabilized
3
1
0
0.00/yr
12/01/11
11/30/2013
8,912.50
Rent-Decontrol
8
4
0
0.00/yr
2/01/09
1/31/2014
731.77
Rent-Stabilized
3
2
0
0.00/yr
4/01/11
3/31/2013
601-44
Pabon, Arelys
601-45
Bueno, Nilda
635.98
Rent-Stabilized
4
2
0
0.00/yr
4/01/11
3/31/2013
601-46
Sinergia, Inc.
2,649.86
Rent-Decontrol
3
1
0
0.00/yr
1/01/09
11/30/2012
601-47
Alberto, Ana Guzman
654.44
Rent-Stabilized
3
1
0
0.00/yr
12/01/10
11/30/2012
601-48
VACANT
3,000.00
4
2
0
0.00/yr
601-51
Suarez, Martina
1,218.00
Rent-Stabilized
2
1
0
0.00/yr
5/01/11
4/30/2013
601-52
Sinergia, Inc.
2,895.73
Rent-Decontrol
3
2
0
0.00/yr
1/01/09
11/30/2012
601-53
Dormitory Authority
4,312.50
Rent-Decontrol
3
1
0
0.00/yr
2/01/09
1/31/2014
601-54
Middleton, Sheila West
655.16
Rent-Stabilized
3
1
0
0.00/yr
8/01/12
7/31/2014
601-55
Okeke, Michelle
3,200.00
Rent-Decontrol
4
2
0
0.00/yr
10/01/11
9/30/2012
601-56
Peralta, Jackeline
1,033.50
Rent-Stabilized
3
1
0
0.00/yr
9/01/12
8/31/2014
601-57
VACANT
3,000.00
3
1
0
0.00/yr
601-58
Herrera, Juanita
1,024.27
Rent-Stabilized
3
1
0
0.00/yr
8/01/12
7/31/2014
601-61
Rosso, Pofirio
1,202.38
Rent-Stabilized
2
1
0
0.00/yr
4/01/11
3/31/2013
601-62
Spruell, Sonia
991.67
Rent-Control
3
2
0
0.00/yr
601-63
Cuellar, Oscar
1,117.21
Rent-Stabilized
3
1
0
0.00/yr
8/01/11
7/31/2013
601-64
Sullivan, Michael
2,750.00
Rent-Decontrol
3
2
0
0.00/yr
5/01/12
4/30/2013
3
RENT ROLL 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031 Unit Reference Number
Bedrms Bathrms Occupant Name
Monthly Rent
Square Feet
Rent Per Square Feet
Lease Starting Date
3,400.00
Rent-Decontrol
4
2
0
0.00/yr
771.83
Rent-Control
3
1
0
0.00/yr
2
2
0
0.00/yr
3
1
Lease Exp Date
601-65
Lewis, Russell
601-66
Hollis, Inez
601-67
VACANT
601-68
Altagracia, Matista
886.96
Rent-Stabilized
0
0.00/yr
5/01/12
4/30/2013
601-ST1
3340 Broadway Pharmacy
7,600.62
Rent-Retail
1,200
76.01/yr
7/01/04
6/30/2014
601-ST3
MUNICIPAL CREDIT UNION
7,543.17
Rent-Retail
1,300
6.33/mth 69.63/yr
9/01/06
8/31/2016
601-ST4
White Rose Nails
2,562.31
Rent-Retail
600
5.80/mth 51.25/yr
1/01/09 12/30/2013
601-ST5
SP DENTAL, P.C.
7,032.58
Rent-Retail
1,215
4.27/mth 69.46/yr
8/01/10
601-ST7
SB Salon Unisex
3,490.83
Rent-Retail
450
5.79/mth 93.09/yr
601-ST8
Fernandez Beauty Aids-Health
2,704.00
Rent-Retail
325
7.76/mth 99.84/yr
601-ST9
VACANT
500.00
Rent-Retail
168
8.32/mth 99.84/yr
0
0.00/yr
300
40.00/yr
601-BSMT SUPER- Pedro Parrilla 601-ST10
VACANT
3,000.00
0.00 1,000.00
Rent-Retail
11/01/11 10/31/2012
7/31/2015
11/01/05 10/31/2015
8/19/09
8/31/2014
PROPERTY TOTALS : Total Occupied Rents
103,327.80
Total Vacant Rents
21,000.00
Total Gross Rents
124,327.80
Miscellaneous Annual Gross Rents
11,275.00 1,503,208.60
4
INVESTMENT ANALYSIS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 1003
Purchase Price: Closing costs: Total Investment: Debt @ 75% LTV: Equity Required: Total Capitalization:
$16,500,000 $825,000 $17,325,000 $12,375,000 $4,950,000 $17,325,000
Estimated Financing Option: $12,375,000 loan amount with an interest rate of 3.0% and a 30 year amortization schedule and a 5 year term.
NOI Before debt Service and collection loss: $923,749 Collection Loss: ( @ 3% of gross rent roll) ($45,096) Debt Service: ($626,076) ______________________________________________________ N.O.I After Debt Service: $252,577 Add back Amortization: $254,826 ______________________________________________________ Net Effective Income: $507,403 Initial Cap Rate: 5.3 Initial return on cash investment 10.3% Assuming a modest 5% annual increase in income over the next four years your return on the equity investment would be as follows: year 2: 11.7%, year 3: 13.2% year 4: 14.9% year 5: 16.6%.
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PHOTOGRAPHS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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PHOTOGRAPHS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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PHOTOGRAPHS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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PHOTOGRAPHS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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NEIGHBORHOOD NATIONAL TENANTS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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NEIGHBORHOOD RETAIL 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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MAPS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE APARTMENT FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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SAMPLE RETAIL FLOOR PLANS 3621-3629 Broadway aka 601 W. 149th Street New York, NY 10031
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