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16UNITS
$907PRICE /SF
4.1%PRO FORMA CAP RATE
9,650GROSS SQUARE FEET
$187,092CO-OP MAINTENANCE
15.5PRO FORMA GRM
Peter Von Der AheTel: (212) 430-5114 [email protected]
Joe KoicimTel: (212) [email protected]
David LloydTel: (212) [email protected]
Logan MarkleyTel: (212) [email protected]
Andrew Dansker | Financing InquiriesTel: (212) [email protected]
L I S T I N G M E T R I C S
16-Unit Co-op Package at 342 West 21st Street
is being offered at$8,750,000
F I NANCIAL OVERVI EW
1 6 U n i t C o - o p P a c k a g e a t 3 4 2 W e s t 2 1 s t S t r e e t
Peter Von Der AheTel: (212) 430-5114
Andrew DanskerTel: (212) 430-5168
Financing Inquiries:
Joe KoicimTel: (212) 430-5147
David LloydTel: (212) 430-5185
Logan MarkleyTel: (212) 430-5194
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. © 2017 Marcus & Millichap
$/SF $907$/UNIT $546,875 INCOME CURRENT PRO FORMATOTAL SF 9,650 Gross Potential Residential Rent $374,299 $563,071TOTAL UNITS 16 Gross Income $374,299 $563,071
CURRENT METRICS Other Income $1,091 $1,091CAP RATE 2.0% Effective Gross Income $364,161 $541,639GRM 23.3 Average Residential Rent/Month/Unit $1,949 $2,933
PRO FORMA METRICS
CAP RATE 4.1% EXPENSESGRM 15.5 Co-op Maintenance $187,092 $187,092CASH ON CASH 3.13% Total Expenses $187,092 $187,092
Net Operating Income $177,069 $354,547
EXPENSE RATIO UPSIDE ANALYSIS LEASE STATUS ANALYSISUNIT BREAKDOWN % OF TOTAL TOTAL AVG. RENTTotal Units -- 16 $1,949Total RS Units 25% 4 $748Total RC Units 6% 1 $529Total FM Units 69% 11 $2,515Total Commercial -- 0 $0
UNIT TYPE ANALYSISTYPE % OF TOTAL TOTAL AVG. RENTStudio 0% 0 $01 Bedroom 94% 15 $1,8332 Bedroom 6% 1 $3,695
Vacancy/Collection Loss
$2,933 PRO FORMAAVERAGE MONTHLY RENT
69%
$8,750,000($22,523)($11,229)
GROSS TOTAL SF
9,650 $907$/SF
OFFERING PRICE
51%
RATIO OFFAIR MARKET UNITS
0% PROPERTY TAXESRATIO
$0$500
$1,000$1,500$2,000$2,500$3,000$3,500$4,000
1 Bedroom 2 Bedroom
Current Avg RS UnitsMarket RentsCurrent Avg FM Rents
RENT ROLL
1 6 U n i t C o - o p P a c k a g e a t 3 4 2 W e s t 2 1 s t S t r e e t
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. © 2017 Marcus & Millichap
Peter Von Der AheTel: (212) 430-5114
Andrew DanskerTel: (212) 430-5168
Financing Inquiries:
Joe KoicimTel: (212) 430-5147
David LloydTel: (212) 430-5185
Logan MarkleyTel: (212) 430-5194
RESIDENTIAL RENTUNIT# LEASE STATUS NOTES BEDROOMS ROOMS SF EXPIRATION ACTUAL PRO FORMA $/PSF MAINTENANCE
AND TAXES
1A RS 1 Bedroom 3 550 Jan-18 $726 $726 $16 $8971B FM Delivered Vacant 1 Bedroom 3 600 Jan-18 $2,075 $3,850 $77 $8971C FM Delivered Vacant 1 Bedroom 3 400 Jan-18 $2,395 $3,000 $90 $1,3451D FM 1 Bedroom 3 650 Jan-18 $2,345 $3,850 $71 $7971E RS 1 Bedroom 3 650 Jan-18 $880 $880 $16 $8972B FM 1 Bedroom 3 600 Jan-18 $2,795 $3,850 $77 $9962C FM 2 Bedroom 4 700 Jan-18 $3,695 $5,750 $99 $1,4942D RS 1 Bedroom 3 650 $529 $529 $10 $8973D RS 1 Bedroom 3 650 Jan-18 $651 $651 $12 $8974A FM 1 Bedroom 3 550 Jan-18 $2,570 $3,850 $84 $9964B FM 1 Bedroom 3 600 Jan-18 $2,445 $3,850 $77 $9964D FM 1 Bedroom 3 650 Jan-18 $2,445 $3,850 $71 $8975A FM Delivered Vacant 1 Bedroom 3 550 Jan-18 $2,600 $3,850 $84 $9966A RC Pays $90.90/month for fuel 1 Bedroom 3 550 Jan-18 $737 $737 $16 $8976D FM 1 Bedroom 3 650 Jan-18 $1,909 $3,850 $71 $7976E FM 1 Bedroom 3 650 Jan-18 $2,395 $3,850 $71 $897MONTHLY RESIDENTIAL REVENUE 17 49 9,650 $31,192 $46,923 $15,591
ACTUAL PRO FORMATOTAL ANNUAL REVENUE $374,299 $563,071There are currently 3 vacant units in the building. The super lives off site.
CITY: New Yorki
STATE: NYi
BLOCK & LOT: 744 / 63i
LOT DIMENSIONS: 50 x 92i
LOT SF: 4,600i
BUILDING DIMENSIONS: 50 x 74i
GROSS SF OF 16 UNITS: 10,550i
ZONING: R7Ai
MAX FAR: 3.00i
AVAILABLE AIR RIGHTS: Nonei
LANDMARK DISTRICT: Nonei
HISTORIC DISTRICT: Nonei
ANNUAL PROPERTY TAX BILL: __$205,369i
TAX CLASS: 2i
1 6 U n i t C o - o p P a c k a g e a t 3 4 2 W e s t 2 1 s t S t r e e t
PROPERTY DESCR I PT ION
Peter Von Der AheTel: (212) 430-5114
Andrew DanskerTel: (212) 430-5168
Financing Inquiries:
Joe KoicimTel: (212) 430-5147
David LloydTel: (212) 430-5185
Logan MarkleyTel: (212) 430-5194
1 6 U n i t C o - o p P a c k a g e a t 3 4 2 W e s t 2 1 s t S t r e e t
EXTER I ORS
Peter Von Der AheTel: (212) 430-5114
Andrew DanskerTel: (212) 430-5168
Financing Inquiries:
Joe KoicimTel: (212) 430-5147
David LloydTel: (212) 430-5185
Logan MarkleyTel: (212) 430-5194
1 6 U n i t C o - o p P a c k a g e a t 3 4 2 W e s t 2 1 s t S t r e e t
I NTER IORS
Peter Von Der AheTel: (212) 430-5114
Andrew DanskerTel: (212) 430-5168
Financing Inquiries:
Joe KoicimTel: (212) 430-5147
David LloydTel: (212) 430-5185
Logan MarkleyTel: (212) 430-5194
www.newyorkmultifamily.com 212 430 5114
Peter Von Der AheTel: (212) 430-5114
Andrew DanskerTel: (212) 430-5168
Financing Inquiries:
Joe KoicimTel: (212) 430-5147
David LloydTel: (212) 430-5185
Logan MarkleyTel: (212) 430-5194