powerpoint presentation · information. references to square footage or age are approximate. buyer...
TRANSCRIPT
4TOTAL UNITS
$600PRICE /SF
6.0%CAP RATE
25’ x 100’LOT SIZE
2,625TOTAL SQUARE FEET
$2,432PROJECTED TAXES
14.0GRM
Shaun RineyTel: (718) 475-4369
Michael SalvaticoTel: (718) 475-4358
Andrew Dansker | Financing InquiriesTel: (212) 430-5168
L I S T I N G M E T R I C S
58 Wyckoff AvenueIs being offered at $1,575,000
COVER OPTION1
F I N A N C I A L O V E R V I E W
5 8 W y c k o f f A v e n u e _
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap
$/SF $600 INCOME CURRENT PRO FORMA
$/UNIT $393,750 Gross Potent ial Resident ial Rent $112,800 $112,800
TOTAL SF 2,625 Gross Potent ial Commercial Rent $0 $0
TOTAL UNITS 4 Gross Income $112,800 $112,800
CURRENT METRICS Other Income $0 $0
CAP RATE 6.0% Effect ive Gross Income $109,416 $109,416
GRM 14.0 Average Residential Rent/Month/Unit $2,350 $2,350
PRO FORMA METRICS
CAP RATE 6.0% EXPENSES
GRM 14.0 Property Taxes Tax Class: 1 $2,432 $2,432
CASH ON CASH 6.73% Fuel Pass-Thru $0 $0
Insurance Estimate $2,200 $2,200
Water and Sewer Estimate $2,000 $2,000
EXPENSE RATIO UPSIDE ANALYSIS Repairs and Maintenance Estimate $2,000 $2,000
Common Electric (PPSF) $394 $394
Super Salary Estimate $1,200 $1,200
Management Fee Estimate $4,377 $4,377
Total Expenses $14,602 $14,602
Net Operat ing Income $94,814 $94,814
LEASE STATUS ANALYSIS
UNIT BREAKDOWN % OF TOTAL TOTAL AVG. RENT
Total Units -- 4 $2,350
Total RS Units 0% 0 $0
Total RC Units 0% 0 $0
Total FM Units 100% 4 $2,350
PROPOSED DEBT Total Commercial -- 0 $0
Debt Service ($56,088)
Debt Coverage Rat io 1.69 UNIT TYPE ANALYSIS
Net Debt Cash Flow After Debt Service $38,726 TYPE % OF TOTAL TOTAL AVG. RENT
Loan Amount $1,000,000 Studio 0% 0 $0
Interest Rate 3.75% 1 Bedroom 100% 4 $2,350
Amort izat ion 30 2 Bedroom 0% 0 $0
3 Bedroom 0% 0 $0
4 Bedroom 0% 0 $0
5 Bedroom 0% 0 $0
6 Bedroom 0% 0 $0
SRO 0% 0 $0
GROSS TOTAL SF
2,625 $600$/SF
OFFERING PRICE
13%
RATIO OF
FAIR MARKET UNITS
2% PROPERTY TAXES
RATIO
100%
$1,575,000
($3,384)($3,384)Vacancy/Collect ion Loss
$2,350 PRO FORMA
AVERAGE MONTHLY
RENT
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
Current Avg RS Units
Market Rents
Current Avg FM Rents
R E N T R O L L
5 8 W y c k o f f A v e n u e _
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions,
assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real
Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap
RESIDENTIAL RENT
UNIT# LEASE STATUS NOTES BEDROOMS SF ACTUAL PRO FORMA $/PSF
1L FM Renovated/Duplex 1 Bedroom 557 $2,600 $2,600 $56
1R FM Renovated/Duplex 1 Bedroom 557 $2,600 $2,600 $56
2L FM Renovated 1 Bedroom 393 $2,100 $2,100 $64
2R FM Renovated 1 Bedroom 393 $2,100 $2,100 $64
MONTHLY RESIDENTIAL REVENUE 4 1,900 $9,400 $9,400
ANNUAL RESIDENTIAL REVENUE $112,800 $112,800
ANNUAL COMMERCIAL REVENUE $0 $0
ACTUAL PRO FORMA
TOTAL ANNUAL REVENUE $112,800 $112,800
The building is currently vacant.
There are 4 total units.
* Subject property is three floors. Property is fully vacant with approved plans and 90% of renovations complete. Contact broker.
** Each unit has separated HVAC units with tenant paying for electric heat, air conditioning and cooking.
*** The building is built 25' x 35' across three floors.
**** The property is located in a proposed rezoning area. Click link below. Page 66 and 72.
***** Under Bushwick Neighborhood Rezoning Plan, 58 Wyckoff located in proposed M3/R7 zone, allowing for up to 4.2 FAR of Residential, or
10,200 BSF.
CITY: Brooklyni
STATE: NYi
BLOCK & LOT:3210 / 34i
LOT DIMENSIONS: 25' x 99'i
LOT SF: 2,475i
BUILDING DIMENSIONS: 25' x 35'i
BUILDING SF: 2,625i
ZONING: m1i
MAX FAR: 1.00i
AVAILABLE AIR RIGHTS: 0i
LANDMARK DISTRICT: Nonei
HISTORIC DISTRICT: Nonei
ANNUAL TAX BILL:__$2,432i
TAX CLASS: 1i
5 8 W y c k o f f A v e n u e _
P R O P E R T Y D E S C R I P T I O N
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
5 8 W y c k o f f A v e n u e _
M a r i a H e r n a n d e z P a r k
5 8 W y c k o f f A v e n u e _
B U S H W I C K N E I G H B O R H O O D R E Z O N I N G P L A N
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
M a r i a H e r n a n d e z P a r k
5 8 W y c k o f f A v e n u e _
B U S H W I C K N E I G H B O R H O O D R E Z O N I N G P L A N
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
M a r i a H e r n a n d e z P a r k
5 8 W y c k o f f A v e n u e _
B U S H W I C K N E I G H B O R H O O D R E Z O N I N G P L A N
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
215 Moore Street
N O T A B L E D E V E L O P M E N T S
71 White Street – 7-story, 80,000 sf mixed-use hotel 215
Moore Street – 75,000 sf officebuilding
10 Montieth Street – 4 0 0 , 0 0 0 sf rental w/ 4 0 0 units
Rheingold Brewery – 1 million sf rental complex
95 Evergreen – 170,000 sf retail/office building
6 0 0 Bushwick Avenue – 4-story, 64-unit rental 16
Charles Place – 5-story 39-unit rental
668 Bushwick Avenue – 54,000 sf mixed-use building
101 Varick Avenue – 280,000 sf retail/office building The
Jefferson – 125,000 sf retail/office building
The Paper Mill – 58,000 sf retail/office building 1127
Willoughby Avenue – 9-story, 32-unit rental
338 Evergreen Avenue – 5-story, 180-unit rental building
Rh e in g o ld Brew ery
10 Montieth Street
71 W h i te Street
9 5 E v ergreen
101 V a r i ck A v en u e
T h e Jefferson
T h e P a p er Mill
6 6 8 Bu s h w ick A ven u e
371 S tockh o lm Street
6 0 0 Bu s h w ick A v en u e
3 3 8 E v ergreen A v en u e
371 Stockholm Street – 8-story, 28-unit rental building 176
Woodward Avenue – 5-story, 130-unit rental building 475
Woodward Avenue – 4-story, 7-unit rental building 455
Onderdonk Avenue – 5-story, 15-unit rental building 1728 Himrod
Street – 4-story, 7-unit rental building
18-14/18 Gates Avenue – 4-story, 14-unit rental building
3-31 St. Nicholas Avenue – 5-story, 18-unit rental building 16-
14/16 Madison Street – 7-story, 90-unit rental building
803-805 Wyckoff Avenue – 5-story 54-unit rental building 1732
Hancock Street – 5-story, 11-unit mixed-use building 976 Cypress
Avenue – 108,000 sf storage facility
16-61/71 Summerfield Street – 5-story, 56-unit building 1519
Decatur Street – 68,000 sf commercial conversion
1127 W i l lo u g h b y A v en u e
8 0 3 - 8 0 5 W y c k o f f A v en u e
4 5 5 O n d e rd o n k A v en u e
16 Char les P la c e
176 W o o d w a r d A v en u e
1728 H im ro d Street
16-61/71 Summerf ie ld Street
1519 Decatur Street
3-31 St. Nicholas A v en u e
4 7 5 W o o d w a r dA v en u e
18-14/18 GatesA v en u e
9 7 6 C yp res s A v en u e
1732 H a n co ckStreet16-14/16 Madison Street
S U B J E C TP R O P E R T Y
L M
M
L
L
LL
M
M
M
J
M
R I D G E W O O D / B U S H W I C K D E V E L O P M E N T A C T I V I T Y
5 8 W y c k o f f A v e n u e _
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
5 8 W y c k o f f A v e n u e _
I N T E R I O R S
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
5 8 W y c k o f f A v e n u e _
I N T E R I O R S
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
5 8 W y c k o f f A v e n u e _
I N T E R I O R S
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
5 8 W y c k o f f A v e n u e _
I N T E R I O R S
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
5 8 W y c k o f f A v e n u e _
E X T E R I O R S
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
T h e B u s h w i c k C o l l e c t i v e
M a r i a H e r n a n d e z P a r k
5 8 W y c k o f f A v e n u e _
B U S H W I C K P H O T O S
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
R o b e r t a ’ s P i z z a
T h e N a r r o w s B a r
M i c r o s c o p e G a l l e r y
S a r d i n e G a l l e r y
5 8 W y c k o f f A v e n u e _
B U S H W I C K P H O T O S
Andrew Dansker
Tel: (212) 430-5168
Financing
Inquiries:Shaun Riney
Tel: (718) 475-4369
Michael Salvatico
Tel: (718) 475-4358
www.newyorkmultifamily.com 212 430 5114
Andrew DanskerTel: (212) 430-5168
Financing
Inquiries:
Shaun RineyTel: (718) 475-4369
Michael SalvaticoTel: (718) 475-4358