aftab skyview condo package - loopnet · 2018-07-06 · aftab skyview. condo package. 87-26 175....
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T E A M P R E U S S
AFTAB SKYVIEW CONDO PACKAGEPACKAGE OF 12 RESIDENTIAL CONDOS
87-26 175TH STREET, DOWNTOWN JAMAICA
A F TA B S K Y V I E WC O N D O PAC K AG E87-26 175 TH STREETDOWNTOWN JAMAICA, NY 1 1432
87-26 175 TH STREET
ASKING PRICE $5,000,000
BLOCK 9830
LOTS1001, 1002, 1003, 1004, 1005, 1006, 1007, 1008, 1009, 1010, 1011, 1012, 1027, 1028, 1029, 1030
LOT DIMENSIONS 60’ X 140’ irregular, approx.
LOT SQUARE FOOTAGE 8,400 sq. ft., approx.
GROSS BUILDING SQ. FT. 27,149 sq. ft., approx.
GROSS NUMBER OF CONDOS 24 irregular, approx.
STORIES 7
YEAR BUILT 2008
SUBJECT NUMBER OF CONDOS 12
BEDROOMS / BATH Two Bedroom / Two Bath
SUBJECT GROSS SQ. FT. 11,328 sq. ft., approx.
PARKING SPACES Four
ZONING R4-1
SUBJECT REAL ESTATE TAXES (1) $7,404 (1) 421A Tax Exemption Through 6/30/2026
Cushman & Wakefield has been retained on an exclusive basis for the sale of a package of twelve residential condominiums in the Aftab Skyview building at 87-26 175th Street in Downtown Jamaica, Queens.
The condo package consists of twelve two-bedroom / two bath condominiums. Eleven of the twelve units are currently leased, all of which are free-market. Majority of the leases are leased at below market rents giving an investor the opportunity to take advantage of upside in rental income. Additionally, condo sales in the Downtown Jamaica area are experiencing a surge in pricing which poses the option to sell the condo units individually at the highest price. The entire building consists of 24 residential condos, two community facility condos, and 14 parking spaces. The building is equipped with an elevator and most units have either a balcony or terrace.
This package equates to approximately 11,328 square feet, a an average of 995 square feet per condo. The package also includes four parking spaces, all currently leased at $150 per month. The parking spaces are surface spaces located in the rear of the building.
87-26 175th Street is in a convenient location, three blocks from the F train at 179th Street / Hillside Avenue and five blocks from the F train at 169th Street. Additionally, the Q43, Q76, and Q77 bus lines are located in walking distance at Hillside Avenue.
Property inspections are by appointment only, please inquire within.
AFTAB SKYVIEW TWELVE-UNIT CONDOMINIUM PACKAGE
PACKAGE OF TWO-BEDROOM CONDOMINIUMS PLUS FOUR PARKING SPACES NEAR SUBWAY
1001-1040
BLOCK9830
89TH AVE
173RD
ST
175TH ST
WARWICK CR
A F TA B S K Y V I E W C O N D O PAC K AG EASKING PRICE $5,000,000
87-26 175 TH STREET
FINANCIAL SUMMARY RENT ROLL
UNIT TYPE LOT #
CURRENT
ANNUAL
TAXES
TAXES
W/O 421A
ABATEMENT
NET S.F. P.P.S.F.LEASE
EXPIRATIONS
MONTHLY
RENT
ANNUAL
RENT
2A 2 Bd 2 Bath
1001 $180 $9,854 923 $26.52 2/28/2019 $2,039.50 $24,474
2B 2 Bd 2 Bath
1002 $180 $9,854 923 $25.35 8/31/2018 $1,950.00 $23,400
2C 2 Bd 2 Bath
1003 $194 $10,635 1,000 $24.47 2/28/2019 $2,039.50 $24,474
2D 2 Bd 2 Bath
1004 $194 $10,635 1,000 $28.00 VACANT $2,333.33 $28,000
3A 2 Bd 2 Bath
1005 $178 $9,692 870 $28.13 2/28/2019 $2,039.50 $24,474
3B 2 Bd 2 Bath
1006 $178 $9,692 871 $28.21 2/28/2019 $2,047.50 $24,570
3C 2 Bd 2 Bath
1007 $194 $10,635 1,000 $24.47 2/28/2019 $2,039.50 $24,474
3D 2 Bd 2 Bath
1008 $194 $10,635 1,000 $24.47 5/31/2019 $2,039.50 $24,474
4A 2 Bd 2 Bath
1009 $178 $9,692 870 $26.90 8/31/2018 $1,950.00 $23,400
4B 2 Bd 2 Bath
1010 $178 $9,692 871 $26.87 11/30/2018 $1,950.00 $23,400
4C 2 Bd 2 Bath
1011 $194 $10,635 1,000 $25.70 2/28/2018 $2,141.48 $25,698
4D 2 Bd 2 Bath
1012 $194 $10,635 1,000 $24.48 9/30/2017 $2,039.63 $24,476
PS 1 Parking 1027 $1,292 $1,292 153 $11.76 APT 3D $150.00 $1,800
PS 2 Parking 1028 $1,292 $1,292 153 $11.76 APT 4D $150.00 $1,800
PS 3 Parking 1029 $1,292 $1,292 153 $11.76 $150.00 $1,800
PS 4 Parking 1030 $1,292 $1,292 153 $11.76 $150.00 $1,800
TOTAL $7,404 $127,454 11,328 $25,209 $302,513
CURRENTLY VACANT
A F TA B S K Y V I E W C O N D O PAC K AG EASKING PRICE $5,000,000
87-26 175 TH STREET
FINANCIAL SUMMARY EXPENSES & NET OPERATING INCOME
EXPENSES PER OWNERSHIP
Real Estate Taxes $7,404
Common Charges $39,864
Repairs & Maintenance $5,400
Management $8,400
TOTAL $61,068
NET OPERATING INCOME $241,445
EFFECTIVE GROSS INCOME $302,513
GROSS EXPENSES $61,068
GROSS MONTHLY INCOME $25,209
GROSS ANNUAL INCOME $302,513
87-26 175 TH STREET
A F TA B S K Y V I E W C O N D O PAC K AG EASKING PRICE $5,000,000
PROPERTY PHOTOS EXTERIOR
SUBJECT
PARKING
JAM
AICA A
VENUE
87-26 175 TH STREET
A F TA B S K Y V I E W C O N D O PAC K AG EASKING PRICE $5,000,000
PROPERTY PHOTOS INTERIOR
STEPHEN R . PREUSSSenior Managing Director
(718) 512 2118
DENISE PREVETEDirector
(718) 512 2605
KEVIN LOUIEAssociate Director
(718) 512 2627
ANDREAS EFTHYMIOUSenior Associate
(718) 512 2621
FOR FURTHER INFORMATION, PLEASE CONTACT EXCLUSIVE AGENTS:
118-35 QUEENS BOULEVARD, 14TH FLOOR, FOREST HILLS, NY 11375
WWW.CUSHMANWAKEFIELD.COM
T E A M P R E U S S
AFTAB SKY VIEW C OND O PACKAGEAS K I N G P R I C E $ 5 ,0 0 0,0 0 0
KEVIN SCHMITZSenior Associate
(718) 512 2628