Exclusive Sale Offering Memorandum

385 Nostrand AvenueBrooklyn, NY

385 Nostrand AvenueProperty Description

6% Cap - Triple Mint Renovated - Turn-Key Mixed Use Building in the Heart of Bedford Stuyvesant

The top two floors are Spacious, Newly Renovated Three Bedroom Apartments with top of the line Stainless Steel appliances, Dishwashers, Full-size Washers and Dryers and all high-end finishes.

Loft Like Ceilings, Recessed Lighting, Hardwood Floors and Exposed Brick details create a comfortable, luxurious atmosphere. The Kitchens feature High End Stainless Steel appliances with an Industrial Sized Refrigerator for all cooking needs a tenant might have. Marble Countertops compliment both the Kitchen

and Bathrooms. White Tiles, High End Vanity and Modern Standing Shower all round out the Master Bathroom and additional Bathrooms. Both units feature Private Terraces accessible through wide glass

doors that let in tons of Natural Light.

The Ground Floor space is a Commercial space for rent.

The Buyer pays the Listing Broker Commission.

385 Nostrand AvenuePhotos

385 Nostrand AvenueFloor Plans

385 Nostrand AvenueProperty Information

Neighborhood

Neighborhood Bed Stuy

Community District 3

School District 13

Census Tract 249

Building

Building Class 2 Family + Store (S2)

Building Sqft 3,340

Building Dimensions 20 x 58 ft

Roof Height 30 ft

Ground Elevation 47 ft

Year Built 1910

Stories 3

Use:

Residential Units 2

Residential Sqft 2,140

Avg. Residential Unit Size 1,070

Commercial Units 1

Retail Sqft 1,200

Lot:

Lot Sqft 1,586

Lot Dimensions 20 x 80 ft

Corner Lot No

Buildings On Lot 1

Zoning

Zoning Districts R6A, C2-4

Zoning Map 17a

Floor Area Ratio (FAR)

Residential FAR 3

Facility FAR 3

FAR As Built 1.50

Allowed Usable Floor Area 4,800

Usable Floor Area As Built 3,340

Unused FAR 1,460

Property Taxes

Tax Class 1

Current Tax Bill $3,078

385 Nostrand AvenueFinancials

Asking Price………….………………………………… $1,999,999Square Footage………………………………..………………. 3,340Cap Rate…………………………………………………………….…… 6%

Unit # Lease Expiry Date Current Monthly Rent Current Annual Rent

1 July 2021 $3,300 $39,600

2 July 2021 $3,300 $39,600

COMM - $4,200 $50,400

Total Annual Income $129,600

Total Annual Expenses . $9,078

NOI $120,522

Income/Expense Breakdown:

Expense Annual Amount

Real Estate Taxes $3,078

Electric $1,200

Water $2,000

Insurance $2,800