199 MALCOLM X BOULEVARD BROOKLYN, NY 5 APTS & 2 RETAIL SPACES TRANSACTION OVERVIEW 199 Malcolm X Boulevard Brooklyn, Ny

199 MALCOLM X BOULEVARD BROOKLYN, NY 5 APTS & 2 RETAIL SPACES TRANSACTION OVERVIEW 199 malcolm x boulevard brooklyn, ny

Address: 199 MALCOLM X BOULEVARD BROOKLYN, NY 11221

LOCATION: BETWEEN PUTNAM AND JEFFERSON AVENUES

his exclusive offering presents the opportunity to acquire 199 Malcolm X Boulevard, a (3)-story walk-up Tapartment building located in the Bedford-Stuyvesant section of Brooklyn. The property is comprised of five (3)-bedroom units and two stores, one of which is vacant. The apartments are completely renovated and feature stainless-steel appliances, hardwood floors and exposed brick throughout. The building was constructed in 1910 and totals 4,680 sf. All the apartments are free market.

The property is located in close proximity to the Broadway commercial corridor, Fulton Park and the A-C subway lines.

Layout 5/5 = 25 Total Rooms Block/Lot 1652-7 Assessment: $101,892 Year Built 1910 Lot Size 26 x 80 (approx. 2,080 sf) Built 26 x 60 (approx. 4,680 sf) Zoning C2-4, R6A FAR 3.0 FAR as Built 2.25 Mortgage Delivered free and clear.

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal Page 2 |transaction overview without notice FINANCIALS| INCOME & EXPENSE 199 malcolm x boulevard brooklyn, ny income & Expenses

Income Apartments $ 168,000 Commercial $ 49,315

Effective Gross Income $ 217,315

Estimated Expenses Real Estate Taxes (20/21) $ 12,709 Water/Sewer $ 2,700 Utilities $ 4,000 Insurance $ 5,000 Payroll $ 3,600 Repairs, Maintenance & Misc. $ 2,500

Total Expenses $ 30,509 \ NOI $ 186,806

Asking Price: $ 3,000,000

Apartments: 5 Rooms: 25 Avg. Rent Per Apt. $ 2,800 Avg. Rent Per Room $ 560 Price Per SF: $ 641 GRM: 13.8 x RR CAP Rate: 6.23%

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal Page 3 |financial summary without notice 3 FINANCIALS | RENT ROLL | Tax map 199 malcolm x boulevard brooklyn, ny rent roll

UNIT RENT SIZE STATUS LEASE START LEASE END

Apt 1R $ 2,900.00 5 FM 9/1/2018 8/31/2021 Apt 2F $ 2,800.00 5 FM 3/1/2020 4/30/2021 Apt 2R $ 2,800.00 5 FM 9/1/2020 2/28/2021 Apt 3F $ 2,700.00 5 FM At Will At Will Apt 3R $ 2,800.00 5 FM 9/1/2020 8/31/2021 Comm 1-Barber Shop $ 1,909.62 3/1/2018 2/29/2028 Comm 2 (Vacant - Projected) $ 2,200.00 TOTAL MONTHLY INCOME $ 18,108.62 TOTAL ANNUAL INCOME $ 217,315.44 tax lot map

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal Page 4 |financial summary without notice property photos 199 malcolm x boulevard brooklyn, ny

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal Page 5 |financial summary without notice property photos 199 malcolm x boulevard brooklyn, ny

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal Page 6 |financial summary without notice property photos 199 malcolm x boulevard brooklyn, ny

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal Page 7 |financial summary without notice MARKETPLACE OVERVIEW 199 malcolm x boulevard brooklyn, ny

edford–Stuyvesant, colloquially known as Bed– in the country, with roughly 8,800 buildings built Stuy, is a neighborhood in the northern section before 1900. Its building stock includes many of the New York City borough of Brooklyn. B historic brownstones. These homes were developed Bedford–Stuyvesant is bordered by Flushing for the expanding upper-middle class from the Avenue to the north (bordering Williamsburg), 1890s to the late 1910s. These homes contain highly Classon Avenue to the west (bordering Clinton ornamental detailing throughout their interiors and Hill), Broadway to the east (bordering Bushwick have classical architectural elements, such as and East New York), and Atlantic Avenue to the brackets, quoins, fluting, finials, and elaborate frieze south (bordering Crown Heights and Brownsville). and cornice banding. The main shopping street, Fulton Street runs east– west the length of the neighborhood and intersects Since the late 1930s the neighborhood has been high-traffic north–south streets including Bedford a major cultural center for Brooklyn’s African Avenue, Nostrand Avenue, and Stuyvesant American population. Following the construction of Avenue. Bedford–Stuyvesant contains four smaller the Fulton Street subway line (A and C trains) in 1936, neighborhoods: Bedford, Stuyvesant Heights, African Americans left an overcrowded Harlem for Ocean Hill, and Weeksville (also part of Crown greater housing availability in Bedford–Stuyvesant. Heights). Part of Clinton Hill was once considered From Bedford–Stuyvesant, African Americans have part of Bedford–Stuyvesant. since moved into the surrounding areas of Brooklyn, such as East New York, Crown Heights, Brownsville, Bedford–Stuyvesant has the largest collection of and Fort Greene. intact and largely untouched Victorian architecture

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal Page 8 |marketplace overview without notice 8 TRANSIT MAP 199 malcolm x boulevard brooklyn, ny

edford–Stuyvesant is served by the New York BCity Subway’s IND Fulton Street Line (A and C trains). The elevated BMT Jamaica Line (J, M, and Z trains) also serves the neighborhood, running alongside its northern boundary at Broadway. Bedford–Stuyvesant is also served by the Nostrand Avenue station of the Long Island Rail Road.

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal Page 9 |marketplace overview without notice zoning overview 199 malcolm x boulevard brooklyn, ny

he Quality Housing bulk regulations, which are mandatory in R6A districts, typically produce high lot-coverage six- or Tseven-story apartment buildings set on or near the street line and are designed to be compatible with existing buildings found in older neighborhoods.

The floor area ratio in R6A districts is 3.0. Above a maximum base height of 60 feet, the building must set back to a depth of 10 feet on a wide street and 15 feet on a narrow street before rising to a maximum height of 70 feet. To preserve the tra- ditional streetscape, the street wall of a new building can be no closer to the street line than any building within 150 feet on the same block, up to a depth of 15 feet. The area between a buildings’ street wall and the street line must be landscaped. Off-street parking, which is not allowed in front of a building, is required for 50% of a building’s dwelling units, or waived if five or fewer spaces are required.

Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal Page 10 |marketplace overview without notice PROPERTY MAP 199 malcolm x boulevard brooklyn, ny

199 MALCOLM X BLVD