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148 Atlantic Avenue Is being offered at

Peter Von Der Ahe

$2,900,000 LISTING METRICS

Tel: (212) 430-5114 pvonderahe@mmreis.com

Shaun Riney Tel: (718) 475-4369 sriney@ipausa.com

Michael Salvatico Tel: (718) 475-4358 michael.salvatico@mmreis.com

John Barney Tel: (718) 475-4347 john.barney@marcusmillichap.com

Andrew Dansker | Financing Inquiries Tel: (212) 430-5168 adansker@marcusmillichap.com

7

TOTAL UNITS

$628 PRICE /SF

5.6%

PRO FORMA CAP RATE

21’

FRONTAGE

4,620’

TOTAL SQUARE FEET

$20,162

PROJECTED TAXES

13.8

PRO FORMA GRM

0’

TOTAL AIR RIGHTS


148 Atlantic Avenue_

FINANCIAL OVERVIEW OFFERING PRICE

$628 $414,286

$/SF $/UNIT

$2,900,000

TOTAL SF

4,620

TOTAL UNITS

7

0%

RATIO OF

CURRENT METRICS

FAIR MARKET UNITS

CAP RATE

13%

PROPERTY TAXES

GRM

RATIO

PRO FORMA METRICS

$1,717

PRO FORMA

CAP RATE

AVERAGE MONTHLY

GRM

RENT

CASH ON CASH

3.8% 18.6 5.6%

CURRENT $101,460

PRO FORMA $123,648

Gross Potential Commercial Rent

$54,600

$87,000

Gross Income Vacancy/Collection Loss

$156,060 ($3,044)

$210,648 ($3,709)

Other Income

$0

$0

Effective Gross Income

$153,016

$206,939

Average Residential Rent/Month/Unit

$1,409

$1,717

EXPENSES $20,162

$20,162

Fuel - Gas

$3,100

$3,100

Insurance

$3,500

$3,500

Water and Sewer

$4,800

$4,800

UPSIDE ANALYSIS

Repairs and Maintenance

$3,000

$3,500

$1,600

Common Electric (PPSF)

$1,000

$1,000

EXPENSE RATIO

13.8

INCOME Gross Potential Residential Rent

5.39%

Super Salary

$1,400 $1,200

Tax Class: 2B

See Rent Roll

Management Fee

$1,000

28%

Property Taxes

$0

$0

$6,121

$8,278

$800

Total Expenses

$42,183

$44,340

$600

Net Operating Income

$110,834

$162,599

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

TOTAL 6

AVG. RENT $2,168

Total RS Units

100%

6

$1,409

Total RC Units

0%

0

$0

Total FM Units

0%

0

$0

Total Commercial

--

1

$4,550

$400 $200 $0

Current Avg RS Units Market Rents Current Avg FM Rents

PROPOSED DEBT Debt Service

($92,528)

Debt Coverage Ratio

1.20

UNIT TYPE ANALYSIS

Net Debt Cash Flow After Debt Service

$70,071

TYPE

% OF TOTAL

TOTAL

AVG. RENT

Loan Amount

$1,600,000

Studio

100%

6

$1,409

Interest Rate

4.00%

1 Bedroom

0%

0

$0

Amortization

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

4,620

$628

GROSS TOTAL SF

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

$/SF

Shaun Riney Tel: (718) 475-4369

Michael Salvatico Tel: (718) 475-4358

John Barney Tel: (718) 475-4347

Andrew Dansker Financing 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 Atlantic Avenue_

RENT ROLL COMMERCIAL RENT UNIT

TENANT NAME

Store

Dentist

NOTES

SF EXPIRATION

Option to renew at Fair Market

982

Jan-19

ACTUAL PRO FORMA $4,550

$7,250

$4,550

$7,250

$/PSF $89

Value

MONTHLY COMMERCIAL REVENUE

982

*75% of basement used by Dental Office, separate water paid by tenant, landlord pays for building heat

RESIDENTIAL RENT UNIT#

LEASE STATUS

NOTES

BEDROOMS ROOMS

1

RS

Preferential Riders

2

RS

3

RS

4

RS

5 6

SF

ACTUAL PRO FORMA

LEGAL $/PSF

Studio

2

491

$1,695

$1,938

$1,938

$47

Studio

2

491

$1,545

$1,590

$1,590

$39

Preferential

Studio

2

491

$1,520

$1,869

$1,869

$46

Super/DRIE

Studio

2

491

$350

$350

$1,087

$9

RS

Preferential Riders

Studio

2

491

$1,650

$2,157

$2,157

$53

RS

Preferential Riders

Studio

2

491

$1,695

$2,400

$2,934

$59

12 2,946

$8,455

$10,304

$11,575

MONTHLY RESIDENTIAL REVENUE

6

ANNUAL RESIDENTIAL REVENUE

$101,460

ANNUAL COMMERCIAL REVENUE

$54,600

$123,648 $138,900 $87,000

ACTUAL PRO FORMA TOTAL ANNUAL REVENUE

$156,060

$210,648

There are currently 0 vacant units in the building. The super lives in a unit.

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

Shaun Riney Tel: (718) 475-4369

Michael Salvatico Tel: (718) 475-4358

John Barney Tel: (718) 475-4347

Andrew Dansker Financing 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 Atlantic Avenue_

PROPERTY DESCRIPTION CITY:

Brooklyni

STATE:

NYi

BLOCK & LOT:

285 / 23i

LOT DIMENSIONS:

21 ft X 80 fti

LOT SF:

1,680i

BUILDING DIMENSIONS:

21 ft X 55 fti

BUILDING SF:

4,620i

ZONING:

R6i

MAX FAR:

2.43i

AVAILABLE AIR RIGHTS:

0i

LANDMARK DISTRICT:

Cobble Hill Historic Districti

HISTORIC DISTRICT:

Cobble Hill Historic Districti

ANNUAL TAX BILL:

__$20,162i

TAX CLASS:

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

2Bi

Shaun Riney Tel: (718) 475-4369

Michael Salvatico Tel: (718) 475-4358

John Barney Tel: (718) 475-4347

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


148 Atlantic Avenue_

EXTERIORS

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

Shaun Riney Tel: (718) 475-4369

Michael Salvatico Tel: (718) 475-4358

John Barney Tel: (718) 475-4347

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


148 Atlantic Avenue_

EXTERIORS

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

Shaun Riney Tel: (718) 475-4369

Michael Salvatico Tel: (718) 475-4358

John Barney Tel: (718) 475-4347

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


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

Shaun Riney

Tel: (718) 475-4369

Michael Salvatico Tel: (718) 475-4358

John Barney

Tel: (718) 475-4347

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

www.newyorkmultifamily.com 212 430 5114

148 Atlantic Avenue  
148 Atlantic Avenue