new york, new york 10024 · activity id 0331101 1 new york, new york 10024. 55 west 86th street....

Activity ID: Z0331101

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New York, New York 1002455 West 86th Street


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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of New York, Inc. © 2018 Marcus & Millichap. All rights reserved. Activity ID: Z0331101

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Activity ID: Z0331101CONFIDENTIALITY & DISCLAIMER | 55 West 86th Street

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT FOR MORE DETAILS.

Activity ID: Z0331101TABLE OF CONTENTS | 55 West 86th Street

Section 1: Property OverviewSection 2: Pricing and Financial Overview

Activity ID: Z0330994 Activity ID: Z0331101


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PROPERTY OVERVIEW



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Activity ID: Z0331101PROPERTY OVERVIEW | 55 West 86th Street

INVESTMENT HIGHLIGHTS

• A Five-Story Mixed-Use Building on the Upper West Side• There has Been Continuous Ownership Since the 1980s• There are Five Residential Units – Four to be Delivered Vacant • The Commercial Space will be Delivered Vacant • A Half Block from Central Park and 86th Street Subway Station

Marcus & Millichap is pleased to present 55 West 86th Street, a five-story walk-up mixed-use building on West 86th Street between Central Park West and Columbus Avenue on the Upper West Side. The subject property has been used and managed by the same family for over thirty years.

The subject property measures approximately 20-feet-by-96-feet totaling approximately 9,240 square feet and sits on a 20-foot by 100.67-foot R10A, C1-5-zoned lot. The property has approximately 10,900 square feet of remaining developable rights and is in the Upper West Side/Central Park West Historic District.

The subject property contains five apartments and two commercial spaces. Of the five apartments, four are free-market and one is rent-controlled. The unit-mix is two floor though one bedrooms and three studio apartments. The ground floor and basement commercial space is approximately 3,500 square feet and is occupied by the owner’s medical practice. The commercial space is complete with a full basement with nine-foot ceilings and will be delivered vacant upon sale. There is office space on the second floor which will also be delivered vacant.

The subject property is located 100 feet East of Columbus Avenue on one of the Upper West Side’s primary blocks. The neighborhood is one of the most desirable in Manhattan for professionals, high-net worth individuals, restaurants, bars and retailers.


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Property Address Block & Lot Zoning Maximum Allowed FAR FAR as Built

PROPERTY OVERVIEW | 55 West 86th Street

PROPERTY SUMMARY

Number of Residential UnitsNumber of Commercial UnitsNumber of StoriesYear Built (est.) Gross Square Feet Building SizeLot Size Type of Ownership

THE OFFERING SITE DESCRIPTION

TAX LOT MAP

5 2

519059,240

20 ft by 96 ft20 ft by 100.67 ft

Fee Simple

55 West 86th Street New York, NY 10024

1200-4R10A, C1-5

104.59

CERTIFICATE OF OCCUPANCY


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COMMERCIAL PHOTOS


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RESIDENTIAL PHOTOS


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PROPERTY PHOTOS


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LOCAL & REGIONAL MAPS


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AERIAL MAP

SUBJECT PROPERTY


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Activity ID: Z0331101PROPERTY OVERVIEW | Upper West Side

RECENT & FUTURE DEVELOPMENTS

SUBJECT PROPERTY

101 W. 87th St.

225 W. 86th St.

272 W. 86th St. 535 West End Ave.

250 W. 81st St.

225 W. 83rd St.

165 W 91st St.

100 W 93rd St.

219 W. 81st St.


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PRICING & FINANCIAL ANALYSIS



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Activity ID: Z0331101PRICING AND FINANCIAL ANALYSIS | 55 West 86th Street

OFFERING SUMMARYPROPERTY

PricePrice/SF Number of Residential Units Number of Commercial UnitsGross Square Feet Building SizeLot Size

$9,950,000$1,077

52

9,24020 ft by 96 ft

20 ft by 100.67 ft

Unit # Unit Type

Legal Status

Unit Size (SF)

Lease End Notes Current

Rent/SF Current Rent Pro Forma Rent/SF

Pro Forma Rent

1B Studio FM 600 44.00$ 2,200.00$ 48.00$ 2,400.00$2A/B 1BR FM 1200 Floor Though -$ -$ 40.00$ 4,000.00$3A Studio FM 600 -$ -$ 48.00$ 2,400.00$3B Studio RC 600 20.86$ 1,043.00$ 20.96$ 1,048.00$

4A/B 1BR FM 1200 Floor Though w/ Terrace -$ -$ 40.00$ 4,000.00$5 3,243.00$ 13,848.00$

38,916.00$ 166,176.00$

Commercial UnitSF

(est.) Lease End Option Annual Increases Current Rent/SF Current Rent Pro Forma

Rent/SFPro Forma

Rent600 -$ -$ 60.00$ 3,000.00$3500 -$ -$ 68.57$ 20,000.00$

-$ 20,000.00$-$ 240,000.00$

3,243.00$ 33,848.00$38,916.00$ 406,176.00$

Office

Total Monthly Commercial RentTotal Annual Commercial Rent

Total Monthly Gross RentTotal Annual Gross Rent

Residential Units

Total Monthly Residential RentTotal Annual Residential Rent

Tenant Name

Doctor Office

RENT ROLL

EXPENSESCurrent Pro Forma

IncomeGROSS POTENTIAL INCOME $38,916 $406,176Vacancy (1.5%) Deductions $584 $6,093EFFECTIVE GROSS INCOME $38,332 $400,083

Expenses Current Pro FormaReal Estate Taxes $60,774 $66,244Insurance $10,577 $11,106Water & Sewer $202 $1,000Gas $7,959 $8,357On-Site Payroll $6,000 $6,000Management Fee (4%) $1,150 $12,003Repairs & Maintenance $2,500 $2,500General & Administrative $1,700 $1,700Reserves & Replacements $3,000 $3,000Legal $1,250 $1,250Supplies $1,000 $1,000TOTAL EXPENSES $96,112 $114,159


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Activity ID: Z0331101Activity ID: Z0330994 Activity ID: Z0331101

new york, new york 10024 · activity id 0331101 1 new york, new york 10024. 55 west 86th street....

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