cbc - offering memorandum (p)...cbcw orldwide.c om reliable real estate fully renovated, vacant,...

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RELIABLE REAL ESTATE

FULLYRENOVATED,VACANT, FREEMARKETBUSHWICK 6UNIT FOR SALE$2,700,000

1363 Hancock StreetBrooklyn, NY 11237

AVAILABLE SPACE4,368 SF

AREALocated in the Bushwick section of Brooklyn, NY. Bushwick continues to growas demand, prices and rental rates increase.Easy access to public transportation. Nearby L & M trains, transit score 100%,walk score 96%.Short distance to the BQE, Brooklyn and Manhattan Bridges, Jackie RobinsonPkwy and the Van Wyck Expy.

OFFICE

Gary [email protected]

Richard [email protected]

©2019 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Reliable Real Estate. All rights reserved.Coldwell Banker Commercial® and the Coldwell Banker Commercial logo are registered service marks owned byColdwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fullysupports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently ownedand operated. The information provided is deemed reliable, but it is not guaranteed to be accurate or complete,and it should not be relied upon as such. This information should be independently verified before any personenters into a transaction based upon it.

COLDWELL BANKER COMMERCIALRELIABLE REAL ESTATE7428 5th Avenue, Brooklyn, NY 11209718.921.3100

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1363 Hancock Street, Brooklyn, NY 11237

FULLY RENOVATED, VACANT, FREE MARKETBUSHWICK 6 UNIT FOR SALE

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CONFIDENTIALITY AGREEMENT

This offering has been prepared solely for informational purposes. It is designed to assist a potentialinvestor in determining whether it wishes to proceed with an in-depth investigation of the subjectproperty. While the information contained herein is from sources deemed reliable, it has not beenindependently verified by the Coldwell Banker Commercial affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptionsconsidered reasonable under the circumstances. No representations or warranties, expressed orimplied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subjectto modification or withdrawal. The contents herein are confidential and are not to be reproducedwithout the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALLFAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/orafter contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspectand investigate the Property and all improvements thereon, either independently or through agents ofthe buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, toreject all offers, and to accept any offer without regard to the relative price and terms of any other offer.Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated ina formal written contract of purchase and sale to be prepared by the Seller and executed by bothparties; and (iii) approved by Seller and such other parties who may have an interest in the Property.Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase andsale, which contract shall supersede prior discussions and writings and shall constitute the soleagreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property andall other expenses, professional or otherwise, incurred by them.

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04 PROPERTY INFORMATION

Property Overview

Property Description

Complete Highlights

Additional Photos

09 LOCATION INFORMATION

Regional Map

Location Maps

Aerial Maps

13 FINANCIAL ANALYSIS

Financial Summary

Income & Expenses

Rent Roll

Demographics Map &Report

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PROPERTYINFORMATIONSECTION 1

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OFFERING SUMMARY

Sale Price: $2,700,000

Number Of Units: 6

Lot Size: 0.05 Acres

Year Built: 1901

Building Size: 4,368 SF

Renovated: 2019

Zoning: R6

Market: Bushwick

Price / SF: $618.13

PROPERTY OVERVIEW

Annual Projections:

$170,352 Rent Roll$14,326 Expenses$156,026 Net Income5.78% Cap Rate$618 Price Per SF

PROPERTY HIGHLIGHTS

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PROPERTY DESCRIPTION

Annual Projections:

$170,352 Rent Roll$14,326 Expenses$156,026 Net Income5.78% Cap Rate$618 Price Per SF

LOCATION DESCRIPTION

Located in the Bushwick section of Brooklyn, NY. Bushwickcontinues to grow as demand, prices and rental rates increase.Easy access to public transportation. Nearby L & M trains, transitscore 100%, walk score 96%.Short distance to the BQE, Brooklyn and Manhattan Bridges,Jackie Robinson Pkwy and the Van Wyck Expy.

SITE DESCRIPTION

4,368 SF 6 Unit including a 1st floor 2 bed / 2 bath garden unit, 3one bedrooms & 1 studio on the 2nd and 3rd floors and a 2 bed /2 bath fourth floor unit with front and rear terraces.All utilities separately metered.Top of the line gut renovation and extension.1st and 4th floor have private washer / dryers, 2nd & 3rd floorhave shared washer / dryers.Central A/C, new electric & plumbing & sprinkler systemDelivered Vacant

UTILITIES DESCRIPTION

Separately Metered

CONSTRUCTION DESCRIPTION

Full gut renovation and extension

PLUMBING DESCRIPTION

New

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LOCATION INFORMATION

Building Name Fully Renovated, Vacant, FreeMarket Bushwick 6 Unit for Sale

Street Address 1363 Hancock Street

City, State, Zip Brooklyn, NY 11237

County Kings

Market Bushwick

Cross-Streets Irving Avenue & KnickerbockerAvenue

Signal Intersection No

Road Type Paved

Market Type Large

Nearest Highway Jackie Robinson Pkwy

Nearest Airport JFK

BUILDING INFORMATION

Occupancy % 0.0%

Number Of Floors 4

Average Floor Size 1,092 SF

Year Built 1901

Year Last Renovated 2019

Gross Leasable Area 4,368 SF

Construction Status Existing

Condition Excellent

Roof new

Free Standing No

Number Of Buildings 1

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LOCATIONINFORMATIONSECTION 2

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Brooklyn, NY

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FINANCIALANALYSISSECTION 3

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INVESTMENT OVERVIEWGUT RENOVATED, VACANT, FREE MARKET BUSHWICK 6

UNIT FOR SALE

Price $2,700,000

Price per Unit $450,000

GRM -

CAP Rate -

Cash-on-Cash Return (yr 1) - %

Total Return (yr 1) -

Debt Coverage Ratio -

OPERATING DATAGUT RENOVATED, VACANT, FREE MARKET BUSHWICK 6

UNIT FOR SALE

Gross Scheduled Income $170,352

Other Income -

Total Scheduled Income -

Vacancy Cost -

Gross Income -

Operating Expenses -

Net Operating Income -

Pre-Tax Cash Flow -

FINANCING DATAGUT RENOVATED, VACANT, FREE MARKET BUSHWICK 6

UNIT FOR SALE

Down Payment -

Loan Amount -

Debt Service -

Debt Service Monthly -

Principal Reduction (yr 1) -

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INCOME SUMMARY GUT RENOVATED, VACANT, FREE MARKET BUSHWICK 6 UNIT FOR SALE

Gross Income -

EXPENSE SUMMARY GUT RENOVATED, VACANT, FREE MARKET BUSHWICK 6 UNIT FOR SALE

Building Insurance $4,259

Real estate tax $2,557

Water / Sewer $5,111

Maintenance $2,400

Gross Expenses $14,327

Net Operating Income -

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UNIT

NUMBER

UNIT

BED

UNIT

BATH

UNIT

SIZE (SF)

CURRENT

RENT

CURRENT

RENT (PER SF)

MARKET

RENT

MARKET

RENT/SF

2 2 1,092 $42,588 $39.00 $42,588 $39.00

2 2 1,092 $42,588 $39.00 $42,588 $39.00

1 1 546 $21,294 $39.00 $21,294 $39.00

0 1 546 $21,294 $39.00 $21,294 $39.00

1 1 546 $21,294 $39.00 $21,294 $39.00

1 1 546 $21,294 $39.00 $21,294 $39.00

Totals/Averages 4,368 $170,352 $39.00 $170,352 $39.00

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POPULATION 0.25 MILES 0.5 MILES 1 MILE

Total population 12,233 44,482 169,899

Median age 29.7 29.9 30.1

Median age (Male) 26.9 28.1 28.7

Median age (Female) 32.8 32.0 31.9

HOUSEHOLDS & INCOME 0.25 MILES 0.5 MILES 1 MILE

Total households 3,890 14,341 55,426

# of persons per HH 3.1 3.1 3.1

Average HH income $43,404 $44,809 $46,601

Average house value $599,852 $551,704

* Demographic data derived from 2010 US Census

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cbc - offering memorandum (p)...cbcw orldwide.c om reliable real estate fully renovated, vacant,...

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