PowerPoint Presentation · 2017. 3. 10. · This informationhas been secured fromsourceswe...

7TOTAL UNITS

$907PRICE /SF

2.6%CAP RATE

26'FRONTAGE

4,300TOTAL SQUARE FEET

$11,142PROJECTED TAXES

26.8GRM

4,866TOTAL AIR RIGHTS

Peter Von Der AheTel: (212) 430-5114 [email protected]

Scott EdelsteinTel: (212) [email protected]

Seth GlasserTel: (212) [email protected]

Rafi MoskowitzTel: (212) [email protected]

Andrew Dansker | Financing InquiriesTel: (212) [email protected]

L I S T I N G M E T R I C S

867 Riverside DriveIs being offered at $3,900,000

F I NANCIAL OVERVI EW

8 6 7 R i v e r s i d e D r i v e _

Peter Von Der AheTel: (212) 430-5114

Andrew DanskerTel: (212) 430-5168

Financing Inquiries:

Scott EdelsteinTel: (212) 430-5137

Seth GlasserTel: (212) 430-5136

Rafi MoskowitzTel: (212) 430-6146

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 accuracyof 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. © 2016 Marcus & Millichap

$/SF $907 INCOME CURRENT PRO FORMA$/UNIT $557,143 Gross Potential Residential Rent $145,500 $172,800TOTAL SF 4,300 Gross Income $145,500 $172,800TOTAL UNITS 7CURRENT METRICS Effective Gross Income $141,135 $167,616CAP RATE 2.6% Average Residential Rent/Month/Unit $1,732 $2,057GRM 26.8

PRO FORMA METRICS

CAP RATE 3.2% EXPENSESGRM 22.6 Property Taxes Tax Class: 2B $11,142 $11,142CASH ON CASH 2.18% Fuel - Gas $6,300 $6,300

Insurance $3,150 $3,150Water and Sewer $3,200 $3,200

EXPENSE RATIO UPSIDE ANALYSIS Repairs and Maintenance $5,250 $5,250Common Electric (PPSF) $1,075 $1,075Super Salary $4,000 $4,000Management Fee $7,057 $8,381Total Expenses $41,174 $42,498Net Operating Income $99,961 $125,118

LEASE STATUS ANALYSISUNIT BREAKDOWN % OF TOTAL TOTAL AVG. RENTTotal Units -- 7 $1,732Total RS Units 0% 0 $0

PROPOSED DEBT Total RC Units 0% 0 $0Debt Service ($68,486) Total FM Units 100% 7 $1,732Debt Coverage Ratio 1.46 Total Commercial -- 0 $0Net Debt Cash Flow After Debt Service $56,632Loan Amount $1,300,000Interest Rate 3.25% UNIT TYPE ANALYSISAmortization 30 TYPE % OF TOTAL TOTAL AVG. RENT

Studio 29% 2 $1,3001 Bedroom 29% 2 $1,5882 Bedroom 43% 3 $2,117

Vacancy/Collection Loss

$2,057 PRO FORMAAVERAGE MONTHLY RENT

100%

$3,900,000($5,184)($4,365)

GROSS TOTAL SF

4,300 $907$/SF

OFFERING PRICE

29%

RATIO OFFAIR MARKET UNITS

8% PROPERTY TAXESRATIO

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

Studio1 Bedroom2 Bedroom

Current Avg RS UnitsMarket RentsCurrent Avg FM Rents

RENT ROLL


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 accuracyof 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. © 2016 Marcus & Millichap







RESIDENTIAL RENTUNIT# LEASE STATUS NOTES BEDROOMS ROOMS EXPIRATION ACTUAL PRO FORMA1 FM Renovated 2 Bedroom 4 Aug-17 $2,250 $2,5002 FM Renovated 2 Bedroom 4 Sep-17 $2,100 $2,5003R FM 1 Bedroom 3 Sep-17 $1,575 $1,8503F FM In Court Studio 2 Jun-17 $1,200 $1,6004R FM 1 Bedroom 3 Jun-17 $1,600 $1,8504F FM Studio 2 Jun-17 $1,400 $1,6005 FM Floor-Through, Roof Deck 2 Bedroom 4 Sep-17 $2,000 $2,500MONTHLY RESIDENTIAL REVENUE 10 22 $12,125 $14,400

ACTUAL PRO FORMATOTAL ANNUAL REVENUE $145,500 $172,800There are currently 0 vacant units in the building. The super lives off site.

CITY: New Yorki

STATE: NYi

BLOCK & LOT: 2135 / 30i

LOT DIMENSIONS: 32 x 46i

LOT SF: 1,296i

BUILDING DIMENSIONS: 26 x 45i

BUILDING SF: 4,300i

ZONING: R8i

MAX FAR: 6.02i

AVAILABLE AIR RIGHTS: 4,866i

LANDMARK DISTRICT: Nonei

HISTORIC DISTRICT: Nonei

ANNUAL TAX BILL: __$11,142

TAX CLASS: 2Bi


PROPERTY DESCR I PT ION








EXTER I ORS








I NTER IORS







www.newyorkmultifamily.com 212 430 5114







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