Exclusive Offering Memorandum 39-26 62nd Street Woodside,

WESTBRIDGE REALTY GROUP | 152 MADISON AVENUE, SUITE 202 | , NY 10016 | WWW.WESTBRIDGE-RE.COM EXECUTIVE SUMMARY Westbridge Realty Group has been retained as the exclusive broker to sell 39-26 62nd Street, a 5-story walk-up apartment building located between Roosevelt Avenue & 39th Avenue in Woodside, Queens. Built 40 ft x 88 ft, the building spans 17,600 square feet and contains 26 apartments. 18 of the 26 apartments have preferential rents totaling $144,000 annually

The property is approximately 250 feet from the entrance to both the LIRR Woodside Station, and the 7 subway train at 61st St - Woodside Station.

EXECUTIVE SUMMARY 39-26 62nd Street 2 DEAL HIGHLIGHTS ►►Long term ownership, over 40 years ►►Convenient location, walking distance to 7 train ►►18 of the 26 apartments have preferential rents ►►$349 / SF ►►$236,538 / Unit

39-26 62nd Street

EXCLUSIVE AGENTS Ali Rossland Steven Westreich Director of Sales President (718) 551-8359 (914) 755-5906 [email protected] [email protected]

2 3 152 Madison Avenue | Suite 202 | New York, NY 10016 | (212) 658-0793 | Westbridge-Re.com PROPERTY INFORMATION

ADDRESS 39-26 62nd Street YEAR BUILT 1927 CITY, STATE, ZIP Queens, NY 11377 STORIES 5 NEIGHBORHOOD Woodside UNITS 26 BLOCK/LOT 1231 / 45 ZONING R5D LOT SIZE 40’ x 101’ MAX FAR 2.0 LOT SF 4,040 SF TAX CLASS 2 BUILDING SIZE 40’ x 88’ BUILDING SF 17,600 SF

PROPERTY INFORMATION 39-26 62nd Street 4 WESTBRIDGE REALTY GROUP

GROSS INCOME TOTAL ANNUAL PER UNIT RENTAL INCOME $432,614 $17,305 / Unit VACANCY & COLLECTION LOSS (3%) -$12,978 -$519 / Unit EFFECTIVE GROSS INCOME $419,636 $16,785 / Unit

GROSS EXPENSES TOTAL ANNUAL PER UNIT REAL ESTATE TAXES $70,233 $2,701 / Unit WATER & SEWER $19,500 $750 / Unit HEAT: OIL #2 $21,250 $817 / Unit ELECTRIC $3,750 $144 / Unit INSURANCE $23,831 $917 / Unit REPAIRS & MAINTENANCE $13,000 $500 / Unit MANAGEMENT FEE (3.5% OF EGI) $14,687 $565 / Unit EFFECTIVE GROSS EXPENSES $166,251 $6,394 / Unit

NET OPERATING INCOME NET OPERATING INCOME $253,385

ASKING PRICE $6,150,000 $236,538 / Unit CAP RATE 4.12% $349 / SF YEAR BUILT 1927 GRM 14.66 x STORIES 5 UNITS 26 ZONING R5D MAX FAR 2.0 TAX CLASS 2

4 39-263480 62BOSTONnd Street RD FINANCIALS 5 WESTBRIDGE REALTY GROUP

Rent Roll

UNIT NO. STATUS BEDROOMS LEGAL RENT PREF CURRENT RENT ANNUAL RENT B Vacant/Projected Studio $1,500 $18,000 1A RS 1-Bed/1-Bath $1,914 $789 $1,125 $13,500 1B RS 1-Bed/1-Bath $1,219 $1,219 $14,629 1C RS Studio $1,923 $425 $1,498 $17,976 1D SUPER, TE 1-Bed/1-Bath $0 1E RS Studio $3,092 $1,593 $1,498 $17,976 2A RS 1-Bed/1-Bath $1,600 $55 $1,545 $18,540 2B RS 1-Bed/1-Bath $1,553 $13 $1,540 $18,480 2C RS Studio $2,185 $710 $1,475 $17,700 2D RS 1-Bed/1-Bath $1,360 $1,360 $16,320 2E RS Studio $823 $823 $9,871 3A RS 1-Bed/1-Bath $1,803 $305 $1,498 $17,976 3B RS 1-Bed/1-Bath $1,974 $324 $1,650 $19,800 3C RS Studio $1,550 $52 $1,498 $17,976 3D RS 1-Bed/1-Bath $1,271 $1,271 $15,247 3E RS Studio $1,611 $161 $1,450 $17,400 4A RS 1-Bed/1-Bath $2,745 $1,070 $1,675 $20,100 4B FM 1-Bed/1-Bath $3,974 $2,179 $1,795 $21,540 4C RS Studio $1,925 $445 $1,480 $17,760 4D RS 1-Bed/1-Bath $2,568 $943 $1,625 $19,500 4E RS Studio $2,762 $1,273 $1,489 $17,868 5A RS 1-Bed/1-Bath $2,484 $774 $1,710 $20,520 5B RS 1-Bed/1-Bath $2,234 $636 $1,598 $19,176 5C RS Studio $1,597 $172 $1,425 $17,100 5D RS 1-Bed/1-Bath $1,501 $1,501 $18,008 5E RS Studio $804 $804 $9,651 Total $46,471 $11,919 $36,051 $432,614

4 348039-26 BOSTON 62nd Street RD FINANCIALSRENT ROLL 65 DISCLAIMER This Offering Memorandum has been prepared exclusively by Westbridge Realty Group, on behalf of the Owner, regarding the purchase of the property described herein at 39-26 62nd Street, Queens, NY. The materials and information contained in this Offering Memorandum do not purport to be all-inclusive or to contain all of the information which prospective investors may need or desire.

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. The prospective buyer should carefully verify each item of income, and all other information contained herein.

No inspections of the Property are permitted unless accompanied by the Owners or a representative from Westbridge Realty Group.

65 7 152 Madison Avenue | Suite 202 | New York, NY 10016 | (212) 658-0793 | Westbridge-Re.com