2400000 61-20 Madison Street, Queens, Ny 11385 8 9200 R6b Ridgewood

61-20 MADISON STREET, QUEENS, NY 11385 Multifamily Walk-Up | One Block from Fresh Pond Road Station | FOR SALE PROPERTY INFORMATION Block / Lot 3619 / 27 Lot Dimensions 36' x 100' Lot Size 3,600 Sq. Ft. (Approx.) Building Dimensions 36' x 64' Stories 4 Units 8 Building Size 9,200 Sq. Ft. (Approx.) Zoning R6B FAR 2.00 Buildable Area 7,200 Sq. Ft. (Approx.) Air Rights None Sq. Ft. (Approx.) Assesment (18/19) $153,652 Real Estate Taxes (18/19) $19,379 8 9,200 R6B RIDGEWOOD Units Gross SF Zoning (FAR) Location PROPERTY DESCRIPTION Ariel Property Advisors has been retained on an exclusive basis to sell 61-20 variety of retail and dining options, including multiple grocery stores, pharmacies, Madison Street, an 8-unit multifamily walk-up located just off of Fresh Pond and restaurants all within a 1-block radius of the property. Nearby attractions Road in the Ridgewood neighborhood of Queens. The subject property is 4 include Benninger Playground, the Queens Library at Ridgewood, Joseph F. stories tall and spans 9,200 square feet, containing eight (8) spacious 3-bedroom Mafera Park and the Metro Mall. apartments. The apartments are currently rented well below market value, which provides the future owner with substantial upside. 61-20 Madison Street offers stable cash flow with a great opportunity to add value to the rental income. As the Ridgewood neighborhood continues to transform, The property is situated on a tree-lined street, within short walking distance from the location offers tremendous growth potential. the M train at the Fresh Pond Road station, offering tenants a quick and easy commute to Brooklyn and Manhattan. The neighborhood also features a wide ASKING PRICE: $2,400,000 212.544.9500 arielpa.nyc For More Information Please Contact Our Exclusive Sales Agents at 212.544.9500 I arielpa.nyc For Financing Info Victor Sozio x12 Derek Kornbluth x40 Alexander Taic x44 Jack Moran x60 Paul McCormick x45 [email protected] [email protected] [email protected] [email protected] [email protected] The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. 2 April 2019 6:59 pm 61-20 MADISON STREET, QUEENS, NY 11385 Multifamily Walk-Up | One Block from Fresh Pond Road Station | FOR SALE CURRENT ROLL EXPENSES (ESTIMATED) Scheduled Gross Income: $145,507 Real Estate Taxes (18/19) $19,379 Less Vacancy Rate Reserve (3.00%): ($4,365) Water & Sewer $7,200 Gross Operating Income: $141,142 Insurance $4,000 Less Expenses: ($56,545) 39% of SGI Fuel $9,200 Net Operating Income: $84,597 3.52% Cap Rate Electric $2,760 Cleaning & Maintenance $1,800 Payroll $4,160 RENT ROLL Repairs $2,400 ACTUAL / MONTHLY Legal/Miscellaneous $1,411 UNITS # OF ROOMS STATUS PROJECTED RENT 1L 3 BR RS Projected $2,800 Management $4,234 1R 3 BR RS Actual $1,553 GROSS OPERATING EXPENSES $56,545 2L 3 BR RS Actual $783 2R 3 BR RS Actual $1,541 3L 3 BR RS Actual $1,433 3R 3 BR RS Actual $1,445 4L 3 BR RS Actual $1,472 4R 3 BR RS Actual $1,100 TOTAL MONTHLY INCOME $12,126 TOTAL ANNUAL INCOME $145,507 ASKING PRICE: $2,400,000 212.544.9500 arielpa.nyc For More Information Please Contact Our Exclusive Sales Agents at 212.544.9500 I arielpa.nyc For Financing Info Victor Sozio x12 Derek Kornbluth x40 Alexander Taic x44 Jack Moran x60 Paul McCormick x45 [email protected] [email protected] [email protected] [email protected] [email protected] The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. 2 April 2019 6:59 pm 1 Q44 Q50 103 St makes all to Co-op City 1 local stops in the Bronx 2 3 1 2 B C Central Park North (110 St) 3 103 St E 110 ST 96 St W 97 ST E 119 ST E 115 ST 6 E 112 ST WHITESTONE BRIDGE 1 B C 110 St 86 St 96 St Q44 makes all THROGS NECK BRIDGE E 109 ST W 88 ST local stops E 106 ST in the Bronx 5 AV LEXINGTON AV 6 Q50 103 St EAST RIVER CENTRAL PARK W 1 AV to Co-op City COLLEGE B C 3 AV COLUMBUS AV POINT SHORE 86 St MADISON AV POWELL’S ROBERT F. KENNEDY BRIDGE FRONT PARK COLLEGE POINT BLVD 7 AV 6 E 100 ST 147 ST FDR DR POWELLS COVE BLVD 96 St 5 AV COVE 119 ST 150 ST 10 AV B C E 97 ST 7 AV 9 AV CLINTONVILLE ST 81 St 160 ST 9 AV 2 AV LITTLE RIKERS 157 ST 162 ST 123 ST E 94 ST CON EDISON ISLAND 9 AV CENTER DR 11 AV 154 ST BAY POWER PLANT E 91 ST 11 AV Q44 115 ST 4 5 21 AV Next stops 14 AV ST 166 111 ST 6 14 AV Lafayette Av CROSS ISLAND PKWY 86 St 14 AV PKWY UTOPIA HELL 20 AV 14 RD E 89 ST 19 ST 110 ST 24 ST 15 AV 14 RD PARK AV 15 AV GATE ASTORIA 15 AV CROSS ISLAND PKWY E 85 ST PARK 18 AV 21 ST DITMARS BLVD 131 ST 17 AV 16 AV 17 RD FRANCIS LEWIS BLVD 5 AV 3 AV RIKERS ISLAND BRIDGE WATERS EDGE DR WHITESTONE PKWY BELL BLVD 41 ST EX 31 ST CENTRAL 120 ST 20 AV CLEARVIEW 6 2 ST 18 AV 17 AV 1 AV TERMINAL 127 ST PARK 77 St 4 ST T BOWERY UTOPIA PKWY 147 ST 18 AV 35 ST 150 ST E 82 ST 4 S N Q 1 24 20 AV WILLETS POINT BLVD E 79 ST 27 AV Astoria 19 AV A 43 ST BAY COLLEGE POINT BLVD V Ditmars Blvd FLUSHING 21 AV LEXINGTON AV USAIRWAYS 23 AV 149 ST 29 ST MARINE AIR CROSS ISLAND PKWY E 75 ST PARSONS BLVD CLEARVIEW 21 ST TERMINAL 125 ST HOYT AV TERMINAL 21 RD MADISON AV 21 AV BAY GOLF LINDEN PL 22 AV 24 AV N Q 2 AV 37 ST COURSE NEWTOWN AVASTORIA BLVD STEINWAY ST 25 RD WILLETS POINT BLVD N Q ULMER ST 5 Av / 59 St R 24 AV 77 ST DELTA 23 AV 166 ST 30 AV Astoria Blvd E 70 ST 205 ST 68 St VERNON BLVD 49 ST TERMINAL 12 ST 45 ST 6 216 ST 26 AV YORK AV SOCRATES 81 ST Lexington Av - 24 RD E 60 ST F ISAMU MT SINAI COLLEGE POINT BLVD 28 AV SCULPTURE 63 St HOSPITAL HAZAN ST MURRAY ST 160 ST 215 ST LITTLE PARK NOGUCHI Q25 LTD 28 AV 154 ST 26 AV BELL BLVD DITMARS BLVD 25 DR 169 ST N Q R E 65 ST OF QUEENS 157 ST EAST END AV GARDEN 31 RD N Q DITMARS BLVD 78 ST makes EAST DR NECK DR WEST 4 5 6 27 AV noguchi MUSEUM all stops BROADWAY 30 Av CORPORAL KENNEDY ST Lexington Av - CRESCENT ST 23 AV 28 AV 96 ST 31 AV BAYSIDE AV BAY 59 St 36 AV 43 ST 23 AV LIRR MAIN ST DR CNTER 31 ST UNION ST 32 AV BOWNE LITTLE VERNON BLVD ASTORIA BLVD WHITESTONE PKWY 29 AV 33 AV WESTMORELAND ST 47 ST 137 ST 137 PARK NECK 30 ST 24 AV Q65 LTD 32 AV 30 AV ST. MICHAELS 24 AV CROCHERON E 57 ST 34 AV N Q 37 ST makes 33 AV 38 RD 208 ST CEMETERY 94 ST PARK 45 ST FRANCIS LEWIS BLVD 21 ST 202 ST 41 AV M 6 36 AV Broadway 35 ST 25 AV all stops E 59 ST Roosevelt 33 ST 49 ST F ST 150 E Island 159 ST 31 AV 25 AV 83 ST 27 AV 35 AV 155 ST 167 ST 234 ST Lexington Av - 217 AV ED KOCH QUEENSBORO BRIDGE 215 PL 231 ST 28 ST 37 AV 53 St - 51 St T E 55 ST 35 AV 163 ST 29 AV T 35 AV COLLEGE POINT BLVD 157 ST N 89 ST NORTHERN BLVD E 52 ST AMERICAN 30 AV 204 ST 43 AV 69 S 85 ST 77 ST 211 ST Q NEWTOWN RD 200 ST LIRR 1 LIRR 71 S 30 AV 71 ST UTOPIA PKWY R MUSEUM OF THE BROADWAY 1 41 AV 40 AV 23 ST LANGSTON MURRAY 35 AV 36 AV DOUGLASTON NORTHERN BLVD LITTLE NECK PKWY N Q HOBART ST ASTORIA BLVD BELL BLVD MAIN ST MOVING IMAGE 161 ST BROOKLYN QUEENS EXPY 31 AV HUGHES HILL 165 ST CRESCENT37 AVST 80 ST 36 Av M R UNION ST 38 AV 21 St COMMUNITY 32 AV 41 AV E 49 ST 31 AV ROOSEVELT AV 41 AV Steinway St 92 ST 69 ST Queens 36 AV American Museum of the Moving Image 32 AV LIBRARY AND CROCHERON AV 39 AV F 31 ST BROWVALE LN 87 ST M R 102 ST 54 ST bridge 34 AV 82 ST CULTURAL 41 AV E 43 ST 76 ST 248 ST STEINWAY ST 74 ST 39 AV N Q 46 St NORTHERN BLVD MORENCI LN UNITED 61 ST CENTER LIRR LIRR VERNON BLVD 39 Av 42 ST 51 ST 7 7 Queensboro 90 ST BROADWAY LIRR BAYSIDE NATIONS 1 1 42 RD Plaza 4 S SANFORD AV NORTHERN BLVD AUBURNDALE ALLEY POND ALLEY POND NORTHERN BLVD LOUIS 162 ST RUSHMORE AV 34 AV 43 AV ENVIRONMENTAL CENTER HEWETT ST NORTHERN BLVD 99 ST T 42 AV NORTHERN BLVD ENVIRONMENTAL 21 ST 7 7 Northern ARMSTRONG FLUSHING 43 AV 34 AV 94 ST JUNCTION BLVD CITY FLUSHING LIRR PARSONS BLVD CENTER 36 St M R Blvd 103 ST HOSPITAL 23 ST M R 81 ST HOUSE DOUGLASTON PKWY E N Q FIELD BOWNE ST CLEARVIEW EXPY 78 ST CROSS ISLAND PKWY E 38 ST 165 ST M MAIN ST Court Sq - ROOSEVELT AV 45 AV NORTHERN BLVD GRAND CENTRAL PKWY 215 ST 23 St E M SUNNYSIDE 35 AV 60 AV BARNETT AV 108 ST KISSENA BLVD E M M R 85 ST 37 AV 103 ST 104 ST E 34 ST Queens YARD 156 ST QUEENS BLVD R 75 ST 39 AV Plaza 65 St 7 7 45 AV MARATHON PKWY 7 457 RD7 61 AV 7 11Mets - QUEENSBOROUGH LONG ISLAND EXPY ST 251 BELL BLVD Court Sq 59 ST 37 AV 103 St - NATIONAL THOMSON AV SKILLMAN AV Willets Pt 48 AV QUEENS MIDTOWN TUNNEL Court Sq 45 ST 7 Corona Plaza 46 AV COMMUNITY 7 2 111 St TENNIS PKWY UTOPIA 48 ST 63 ST 231 ST G 1 G MoMA PS 1 BROADWAY LIRR METS - 46 AV COLLEGE 21 St 35 ST P.

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