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
8 6 7 R i v e r s i d e D r i v e _
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
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
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
8 6 7 R i v e r s i d e D r i v e _
PROPERTY DESCR I PT ION
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
8 6 7 R i v e r s i d e D r i v e _
EXTER I ORS
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
8 6 7 R i v e r s i d e D r i v e _
I NTER IORS
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
www.newyorkmultifamily.com 212 430 5114
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