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144-30 & 144-32 35Th Avenue

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144-30 & 144-32 35Th Avenue TWO CONTIGUOUS ELEVATOR MULTIFAMILY BUILDINGS 116 RESIDENTIAL UNITS IN FLUSHING, QUEENS 144-30 & 144-32 35th Avenue QUEENS, NY 11354 PROPERTY FEATURES LOCATION Located on the south side of 35th Ave. between Parsons Boulevard and 146th Street in Flushing, Queens, NY BLOCK 5003 LOTS 19 23 LOT DIMENSIONS 87' x 180' 87' x 180' LOT SQUARE FOOTAGE: 15,750 SF 15,750 SF LOT SIZE 31,500 SF GROUND FLOOR DIMENSIONS 87' x 164' 87' x 164' GROSS BUILDING SIZE 59,100 SF 59,100 SF COMBINED GROSS BUILDING SIZE 118,200 SF STORIES 6 6 RESIDENTIAL UNITS 58 58 COMBINED RESIDENTIAL UNITS 116 ZONING R7-1 RESIDENTIAL FAR 3.44 COMMUNITY FACILITY FAR 4.80 LANDMARK DESIGNATION No ELIGIBLE ABATEMENTS & EXEMPTIONS J-51 and MCI capital improvement abatement 215th St 201st St 15th Ave 17th Ave Lot 19 Lot 23 College Point 17th Rd 212th St 35 V 18th Ave ASSESSMENT (18/19) Clearview$1,433,780 Park Golf Course $1,373,750 Tax Class 2 t t S S t 147th St h 19th Ave TAX RATE (18/19) 12.612% 12.612% S t h t 149th St 0 20th Ave h 9 t 3 2 9 1 1 1 t 20th Ave TAXES (18/19) $180,828 $173,257 1 S 23rd Ave 180’ d t r PARSS VD PARSS 20th Rd 19 23 146 STREET S 3 22nd Ave ABATED TAXES (18/19)* $128,238 $165,522 2 20th Ave h t t t 1 t t 8 202nd St S S S S 2 21st Ave h h 1 h h 150th St t t t t TOTAL ABATED TAXES (18/19) $293,760 0 4 5 6 2 2 2 2 22nd Ave 1 1 146th St 1 1 23rd Ave t 21st Ave Whitestone Expy S *Per department of finance. Takes into account the J-51 abatements on both lots and MCI abatement on Lot 19 t 175.01’ s 21st Rd 157th St 1 2 24th Ave 1 Whitestone Expy Willets Point Blvd Note: All square footages are approximate 22nd Ave 28th Ave BLOCK 23rd Ave 25th Ave 5003 24th Ave 25th Rd 26th Ave 24th Ave 24th Rd 29th Ave 166th St 213th St PROPERTY25th Ave DESCRIPTION 212th St 26th Ave 26th Ave 25th Dr 211th St NOR VD 214th St Ulmer St 26th Ave 147th St 25th Dr Originally constructed in 1929, 144-30 & 144-32 35th Avenue are210th St two contiguous, elevatored 28th Ave Bell Blvd 29th Ave 28th Ave apartment buildings27th Avemeasuring a combined 118,200 SF across (6) six stories. With 175’ of frontage along 35th Avenue, the two properties benefit from a spacious interior courtyard 29th Ave Bayside Ln Clearview Expy E 33rd Ave College Point Blvd FLUSHING FIELDS Linden Pl 33rd Rd 29th Ave 202nd St Bayside Ave offering improved light and air for the building’s204th St 116Clearview Expy residents.W In addition to the polished lobbies and landscaped courtyard, the building offers a 208thvariety St of amenities including four FLUSHING 150th Pl 201st St 205th St 32nd Ave Delta Arrivals Rd 31st Ave 31st Rd elevators, available storage spaces, andJordan St on-site laundry rooms. Each of the apartments is 160th St 33rd Ave Murray Ln LEAVITTS PARK separately33rd Avemetered for electric and the buildilngs’ boiler burner was converted to a gas 153rd St 144-30 154th St 35TH 166th St Farrington St 34th Ave system in 2015. The unit167th St mix is made up of one34th (1) Ave studio , seventy-six (76) one-bedroom and 155th St 165th St 36th Ave 213th St 159th St 35th Ave 206th St 164th St 169th St Corporal Kennedy St 168th St thirty-nine (39) two-bedroom170th St apartments. 200thThis St immaculately preserved prewar property LATIMER MUSEUM 209th St 171st St Clearview Expy 157th St t 35th Ave 172nd St Utopia Pkwy S is well positioned to take advantage top line rental growth as the building is currently e 203rd St c 161st St n Curtis St i 163rd St r 2 P TOWN HALL averaging approximately $27 per rentable square foot. Murray Hill Murray St Parsons Blvd 41st Ave Union St 38th Ave Northern Blvd 149th Pl A continuously Crocherondeveloping Ave neighborhood – this property is surrounded by new projects 1 Bowne St including 1Flushing Commons, 2Flushing Square and the 3Tangram Development 37th Ave 162nd St 192nd St 41st Ave amongst others (see map). 144-30 35th Avenue provides a buyer with an opportunity to LIRR Station Rd 31st Dr 3 invest in rapidly expanding neighborhood with a variety of premier retailers, restaurants Barclay Ave 7 Main St. Subway 158th St 42nd Ave A 147th St and leisure destinations. Convenientlyu located in close proximity to Northern Boulevard b Beech Ave u Sanford Ave r 202nd St 43rd Ave n Clearview Expy d & 106th St 105th St and within 5 blocks of the a Main Street Subway & LIRR Flushing Main45th Rd Street Stations, 107th St College Point Blvd Murray Hill Cherry Ave l 126th St e L 160th St 41st AveFlushing Main St n 45th Dr Willets Point Blvd quick transportation is available throughout the boroughs. Additionally, the LaGuardia 168th St 169th St 171st St 170th St Citi Field Franklin Ave International45th Ave Airport is an enviable172nd St 10 minute drive from the property206th St (3.4 miles). 196th St 165th St 189th St 156th St 112th St 193rd St 166th St 114th St 167th St 47th Ave 161st St 7 163rd St Maple Ave 164th St 46th Ave Bob Knakal Stephen Palmese Brendan Maddigan Burling St Colden St Bowne St Clearview Expy Smart St Chairman Vice46th Chairman Ave RockyVice Hill Rd Chairman Parsons Blvd Robinson St 47th Ave 38th Ave ASKING PRICE: $35,000,000Union St 7 Flushing Cemetery Laburnum Ave 917 509 9501 212 915 7233 212 915204th St 7234 39th Ave 45th Ave Hollis Court Blvd 196th St 159th St Kissena Blvd [email protected] [email protected] [email protected] 157th St Pidgeon Meadow Rd 41st Ave Avenue of Commerce USTA Billie Jean King Tennis Center Francis Lewis Blvd Kissena Corridor Park 42nd Ave 50th Ave 205th St 203rd St Clearview Expy 190th St 202nd St 201st St 104th St Negundo Ave 48th Ave 192nd St Oak Ave Jonathan Hageman Winfield Clifford Nicole Daniggelis Fresh Meadow Ln 195th St 53rd Ave 194th St 138th St For more information Rose Ave Managing Director Managing Director Associate 43rd Ave 45th Ave 108th St 46th Ave 57th Rd or inspection, please 212 812 5700 212 915 7236 212 915 7243 102nd St 44th Ave Kissena Park Avenue of Africa [email protected] [email protected] St 56th Ave [email protected] 47th Ave contactBooth Memorial Exclusive Ave Agents: 58th Rd Kissena Park Golf Course College Point Blvd Underhill Ave Corona Ave 111th St 58th Ave 136th St Peck Ave Perimeter Rd Avenue of Asia DISCLAIMER 59th Ave 58th Ave 98th St Although information has been obtained from sources deemed60th Ave reliable, neither Owner nor JLL makes any guarantees, warranties or representations, express or implied, as to the completeness or accuracy as to the information contained herein. Any projections, opinions, assumptions or estimates used are for example only. There may be differences between projected and actual results, and those differences may be material. The St Marys Cemetery 99th St 59th Ave Flushing Meadows-CoronaProperty Park may be withdrawn without notice. Neither Owner61st Rd nor JLL accepts any liability for any loss or damage suffered by any party resulting from reliance on this information. If the recipient of this information has signed a Christie Ave Horace Harding Expy confidentiality agreement regarding this matter, thisReeves information Ave is subject to the terms of that agreement. ©2019. Jones Lang LaSalle IP, Inc. All rights reserved Otis Ave 97th St Horace Harding Expy 199th St 198th St d v 62nd Ave l Fresh Meadow Ln Queens College B Mt Hebron Cemetery s 65th Ave 185th St n 184th St o Yellowstone Blvd s 183rd St r 197th St 182nd St Horace Harding Expy a P 181st St Horace Harding Expy 67th Ave 63rd Ave 63rd Rd Horace Harding Expy Melbourne Ave t 110th St S h t 62nd Dr 0 7 166th St 69th Ave 169th St 1 73rd Ave 63rd Dr t S h t t 4 S 64th Ave Jewel Ave 7 1 h t 99th St Meadow Lake Rd W t 62nd Dr 64th Rd 5 68th Dr S 65th Ave 6 Queens Blvd 1 193rd St 71st Ave d n 2 Harry van Arsdale Jr Ave 7 65th Rd 1 180th St 179th St Saunders St Jewel Ave 147th St 73rd Ave Booth St Main St 66th Rd Chevy Chase St 67th Ave 67th Rd 136th St 70th Rd 72nd Ave 175th St 150th St 173rd St Wetherole St 171st St 67th Dr 102nd St 68th Ave Kent St 75th Ave 68th Rd Union Tpke 144-30 & 144-32 35TH AVENUE QUEENS, NY 11354 REVENUE SUMMARY INCOME GROSS RENTS UNITS W/ BEDROOMS COUNT % AVG SF AVG PPSF AVG MONTHLY RENT AVG ANNUAL PREF RENTS Studio 1 1% 1 525 $34 $1,502 $18,023 1BR/1BA 76 66% 61 577 $33 $1,500 $17,996 2BR/1BA 39 34% 31 941 $23 $1,692 $20,304 Averages: 116 100% 93 699 $27 $1,563 $18,759 INCOME & EXPENSES Effective Gross Revenue $2,163,916 Less Expenses $984,395 NOI $1,179,521 Bob Knakal Stephen Palmese Brendan Maddigan ASKING PRICE: $35,000,000 Chairman Vice Chairman Vice Chairman 917 509 9501 212 915 7233 212 915 7234 [email protected] [email protected] [email protected] Jonathan Hageman Winfield Clifford Nicole Daniggelis For more information Managing Director Managing Director Associate or inspection, please 212 812 5700 212 915 7236 212 915 7243 contact Exclusive Agents: [email protected] [email protected] [email protected] DISCLAIMER: Although information has been obtained from sources deemed reliable, neither Owner nor JLL makes any guarantees, warranties or representations, express or implied, as to the completeness or accuracy as to the information contained herein.
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