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Peter Von Der Ahe 260 Madison Avenue, 5th Floor New York, NY Tel: (212) 430-5114 Fax: (646) 349-3308 pvonderahe@mmreis.com

Shaun Riney One MetroTech Center, Suite 2001 Brooklyn, NY 11201 Tel: (718) 475-4369 Fax: (646) 369-2282 sriney@ipausa.com

Dan Greenblatt One MetroTech Center, Suite 2001 Brooklyn, NY 11201 Tel: (718) 475-4357 Fax: (718) 475-4310 daniel.greenblatt@mmreis.com

William Grover One MetroTech Center, Suite 2001 Brooklyn, NY 11201 Tel: (718) 475-4374 Fax: (718) 475-4310 william.grover@marcusmillichap.com


OFFERING PRICE

$7,100,000

$/SF $/UNIT

$553 $443,750

INCOME Gross Potential Residential Rent

CURRENT $453,000

PRO FORMA $471,120

Gross Potential Commercial Rent

$0

$0

Gross Income Vacancy/Collection Loss

$453,000 ($13,590)

$471,120 ($14,134)

Other Income

$0

$0

Effective Gross Income

$439,410

$456,986

Average Residential Rent/Month/Unit

$2,359

$2,454

Property Taxes

$8,088

$8,088

Fuel

$8,500

$8,500

Insurance

$8,000

$8,000

Water and Sewer

$10,400

$10,400

UPSIDE ANALYSIS

Repairs and Maintenance

$8,000

$8,000

$2,500

Common Electric (PPSF)

$2,500

$2,500

Super Salary

$8,400

$8,400

Management Fee

$17,576

$18,279

Total Expenses

$71,464

$72,167

Net Operating Income

$367,946

$384,819

LEASE STATUS ANALYSIS UNIT BREAKDOWN % OF TOTAL Total Units --

TOTAL 16

AVG. RENT $2,359

Total RS Units

0%

0

$0

Total RC Units

0%

0

$0

Total FM Units

100%

16

$2,359

Total Commercial

--

0

$0

TYPE

% OF TOTAL

TOTAL

AVG. RENT

Studio

0%

0

$0

1 Bedroom

0%

0

$0

2 Bedroom

100%

16

$2,359

3 Bedroom

0%

0

$0

4 Bedroom

0%

0

$0

5 Bedroom

0%

0

$0

6 Bedroom

0%

0

$0

SRO

0%

0

$0

TOTAL SF

12,848

TOTAL UNITS

100%

16

RATIO OF

CURRENT METRICS

FAIR MARKET UNITS

CAP RATE

2%

PROPERTY TAXES

GRM

RATIO

PRO FORMA METRICS

$2,454

PRO FORMA

CAP RATE

AVERAGE MONTHLY

GRM

5.2% 15.7 5.4% 15.1

RENT

EXPENSE RATIO

$2,000 $1,500

16%

$1,000

EXPENSES

$500

$0

Current Avg RS Units Market Rents Current Avg FM Rents

UNIT TYPE ANALYSIS

12,848

$553

GROSS TOTAL SF

$/SF

Peter Von Der Ahe Tel: (212) 430-5114

Shaun Riney

Tel: (718) 475-4369

Dan Greenblatt

Tel: (718) 475-4357

William Grover

Tel: (718) 475-4374

*Financing Andrew Dansker Inquiries: Tel: (212) 430-5168


RESIDENTIAL RENT UNIT#

LEASE STATUS

NOTES

BEDROOMS

ROOMS

SF

EXPIRATION

ACTUAL

PRO FORMA

148 Patchen 1L

FM

2 Bedroom

4

Aug-18

$2,450

$2,548

1R

FM

2 Bedroom

4

Jun-18

$2,450

$2,548

2L

FM

1.5 Bath

2 Bedroom

4

Jul-18

$2,300

$2,392

2R

FM

1.5 Bath

2 Bedroom

4

Jun-18

$2,300

$2,392

3L

FM

1.5 Bath

2 Bedroom

4

Jul-18

$2,300

$2,392

3R

FM

1.5 Bath

2 Bedroom

4

Apr-18

$2,300

$2,392

4L

FM

1.5 Bath

2 Bedroom

4

Aug-18

$2,300

$2,392

4R

FM

1.5 Bath

2 Bedroom

4

Jun-18

$2,300

$2,392

150 Patchen

Jul-18

1L

FM

2 Bedroom

4

Jun-18

$2,450

$2,548

1R

FM

2 Bedroom

4

Apr-18

$2,450

$2,548

2L

FM

2 Bedroom

4

May-18

$2,350

$2,444

2R

FM

2 Bedroom

4

Aug-18

$2,400

$2,496

3L

FM

2 Bedroom

4

May-18

$2,350

$2,444

3R

FM

2 Bedroom

4

May-18

$2,400

$2,496

4L

FM

2 Bedroom

4

Jun-18

$2,300

$2,392

4R

FM

2 Bedroom

4

Jul-18

$2,350

$2,444

32

64

$37,750

$39,260

ANNUAL RESIDENTIAL REVENUE

$453,000

$471,120

ACTUAL

PRO FORMA

TOTAL ANNUAL REVENUE

$453,000

$471,120

MONTHLY RESIDENTIAL REVENUE

There are currently 0 vacant units in the building. The super lives off site. There are 16 total units.

Peter Von Der Ahe Tel: (212) 430-5114

Shaun Riney

Tel: (718) 475-4369

Dan Greenblatt

Tel: (718) 475-4357

William Grover

Tel: (718) 475-4374

*Financing Andrew Dansker Inquiries: Tel: (212) 430-5168

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. © 2018 Marcus & Millichap


148 Patchen Avenue

150 Patchen Avenue

Brooklyn

Brooklyn

NY

NY

1652-42

1652-43

26 ft X 95 ft

26 ft X 95 ft

2,470

2,470

26 ft X 60 ft

26 ft X 60 ft

6,424

6,424

Zoning

R6B

R6B

Max FAR

2.00

2.00

Available Air Rights

0

0

Landmark/Historic

None

None

space $4,044

space $4,044

space 2B

space 2B

City State Block & Lot Lot Dimensions Lot SF Building Dimensions Building SF

Annual Tax Bill Tax Class

148-150 Patchen Avenue  
148-150 Patchen Avenue