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424 East 75 Street Is being offered at

Peter Von Der Ahe

$8,320,000 LISTING METRICS

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

Joe Koicim Tel: (212) 430-5147 jkoicim@mmreis.com

David Lloyd Tel: (212) 430-5185 david.lloyd@mmreis.com

Danny Handweiler Tel: (212) 430-5138 daniel.handweiler@mmreis.com

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

20

TOTAL UNITS

10,780

TOTAL SQUARE FEET

$772

$132,643

2.9%

18.5

PRICE /SF

CAP RATE

28'

FRONTAGE

PROJECTED TAXES

GRM

236

TOTAL AIR RIGHTS


424 East 75 Street_

FINANCIAL OVERVIEW OFFERING PRICE

$8,320,000

$/SF $/UNIT

$772 $416,000

TOTAL SF

10,780

TOTAL UNITS

20

INCOME Gross Potential Residential Rent

CURRENT $464,663

PRO FORMA $546,863

Gross Potential Commercial Rent

$0

$0

Gross Income Vacancy/Collection Loss Other Income

$464,663 ($13,940) $0

$546,863 ($16,406) $0

$450,723 $1,936

$530,457 $2,279

Property Taxes Fuel Insurance Water and Sewer Repairs and Maintenance Common Electric (PPSF) Super Salary Management Fee Elevator Contract

$132,643 $22,000 $10,000 $7,285 $15,000 $2,500 $5,000 $18,029 N/A

$132,643 $22,000 $10,000 $7,285 $15,000 $2,500 $5,000 $21,218 N/A

Legal & Miscellaneous SCRIE/DRIE Other Total Expenses Net Operating Income

N/A N/A N/A $212,457 $238,267

N/A N/A N/A $215,646 $314,811

65%

RATIO OF

CURRENT METRICS

FAIR MARKET UNITS

CAP RATE

2.9%

29%

PROPERTY TAXES

GRM

18.5

Effective Gross Income Average Residential Rent/Month/Unit

3.8%

EXPENSES

RATIO

$2,279

PRO FORMA METRICS

PRO FORMA

CAP RATE

AVERAGE MONTHLY

GRM CASH ON CASH

RENT

EXPENSE RATIO

15.7 2.63%

UPSIDE ANALYSIS $3,000 $2,500 $2,000 $1,500

47%

$1,000 $500 $0

Current Avg RS Units Market Rents Current Avg FM Rents

UNIT BREAKDOWN Total Units Total RS Units Total RC Units Total FM Units Total Commercial

% OF TOTAL -35% 0% 65% --

TOTAL 20 7 0 13 0

AVG. RENT $1,936 $1,653 $0 $2,088 $0

UNIT TYPE ANALYSIS TYPE Studio 1 Bedroom 2 Bedroom

% OF TOTAL 50% 50% 0%

TOTAL 10 10 0

AVG. RENT $1,758 $2,115 $0

$772

3 Bedroom 4 Bedroom

0% 0%

0 0

$0 $0

$/SF

5 Bedroom

0%

0

$0

6 Bedroom SRO

0% 0%

0 0

$0 $0

PROPOSED DEBT Debt Service Debt Coverage Ratio Net Debt Cash Flow After Debt Service Loan Amount Interest Rate Amortization

10,780 GROSS TOTAL SF

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

Joe Koicim Tel: (212) 430-5147

LEASE STATUS ANALYSIS

($194,426) 1.23 $120,385 $3,750,000 3.13% 30

David Lloyd Tel: (212) 430-5185

Danny Handweiler Tel: (212) 430-5138

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. © 2017 Marcus & Millichap


424 East 75 Street_

RENT ROLL RESIDENTIAL RENT UNIT# LEASE STATUS 1A RS 1B RS 1C FM 1D FM 2A RS 2B FM 2C FM 2D FM 3A FM 3B FM 3C RS 3D RS 4A FM 4B FM 4C FM 4D RS 5A FM 5B FM 5C FM 5D RS MONTHLY RESIDENTIAL REVENUE

NOTES

BEDROOMS 1 Bedroom 1 Bedroom Studio Studio 1 Bedroom 1 Bedroom Studio Studio 1 Bedroom 1 Bedroom Studio Studio 1 Bedroom 1 Bedroom Studio Studio 1 Bedroom 1 Bedroom Studio Studio 20

SCRIE

TOTAL ANNUAL REVENUE There are currently 0 vacant units in the building. The super lives off site.

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

Joe Koicim Tel: (212) 430-5147

David Lloyd Tel: (212) 430-5185

Danny Handweiler Tel: (212) 430-5138

ROOMS 3 3 2 2 3 3 2 2 3 3 2 2 3 3 2 2 3 3 2 2 50

EXPIRATION Mar-18 Apr-18 Apr-18 Aug-18 Mar-18 Jun-18 Mar-18 Jul-18 Aug-18 Jun-18 Jan-18 Aug-18 Jan-18 Jul-18 May-18 Apr-18 Aug-18 Feb-18 Jun-18 Mar-19

ACTUAL $1,414 $1,586 $1,850 $1,875 $2,196 $2,350 $1,875 $1,950 $2,350 $2,150 $1,431 $1,516 $2,200 $2,350 $1,750 $1,555 $2,350 $2,200 $1,900 $1,875 $38,722

PRO FORMA $1,414 $1,586 $2,400 $2,400 $2,196 $2,800 $2,400 $2,400 $2,800 $2,800 $1,431 $1,516 $2,800 $2,800 $2,400 $1,555 $2,800 $2,800 $2,400 $1,875 $45,572

ACTUAL $464,663

PRO FORMA $546,863

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. © 2017 Marcus & Millichap


424 East 75 Street_

PROPERTY DESCRIPTION CITY:

New Yorki

STATE:

NYi

BLOCK & LOT:

1469 / 37i

LOT DIMENSIONS:

27 x 102i

LOT SF:

2,754i

BUILDING DIMENSIONS:

28 x 87i

BUILDING SF:

10,780i

ZONING:

R8Bi

MAX FAR:

4.00i

AVAILABLE AIR RIGHTS:

236i

ANNUAL TAX BILL:

__$132,643

TAX CLASS:

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

2i

Joe Koicim Tel: (212) 430-5147

David Lloyd Tel: (212) 430-5185

Danny Handweiler Tel: (212) 430-5138

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


424 East 75 Street_

EXTERIORS

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

Joe Koicim Tel: (212) 430-5147

David Lloyd Tel: (212) 430-5185

Danny Handweiler Tel: (212) 430-5138

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


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

Joe Koicim

Tel: (212) 430-5147

David Lloyd

Tel: (212) 430-5185

Danny Handweiler Tel: (212) 430-5138

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

www.newyorkmultifamily.com 212 430 5114

424 East 75 Street  
424 East 75 Street