317 WEST 74th STREET 317 WEST 74th STREET PROPERTY INFORMATION

ADDRESS 317 West 74th Street

LOCATION Located on the north side of West 74th Street between West End Avenue and Riverside Drive.

BLOCK / LOT 1184 / 67 LOT DIMENSIONS 27.5’ x 71.75’’ (Approx.)

BUILDING INFORMATION

BUILDING DIMENSIONS 27’ x 61’ (Approx.)

STORIES 5 (+ Basement)

GROSS SF 7,694 (Approx. Above Grade) LOT SQUARE FOOTAGE 1,950 ZONING R8B

BASE FAR 4.00 BSF 7,800 (Approx.) REMAINING AIR RIGHTS 106

HISTORIC DISTRICT West End-Collegiate Extension

ASSESSMENT (21/22) $832,500 (Tax Class 2) ANNUAL TAXES (21/22) $102,123

ASKING PRICE: $5,775,000

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W 74 ST 317 WEST 74th STREET

PROPERTY DESCRIPTION

JLL has been retained on an exclusive basis to heat timer installed in 2019. The property lies inside arrange for the sale of 317 West 74th Street, a 27.5’ the West-End Collegiate Historic District Extension. wide, 5-story elevatored apartment house located on the north side of West 74th Street between West End Situated in the very heart of the , the Avenue and Riverside Drive. property is just steps from Riverside Park, , Lincoln Center, the major transportation Originally constructed in 1893-1894, the property hubs at and , and the world- contains approximately 7,694 gross square feet class shopping and dining corridors of Broadway, above grade and is currently divided into 19 studio Amsterdam and Columbus Avenues. apartments of which 16 are Free Market and 3 are Rent Stabilized (one of which is vacant). The building With its spectacular location and abundant features an elevator that accesses all floors and has surrounding light and air, 317 West 74th Street ample roof space that could be utilized as a common represents an exceptional opportunity for an array roof deck with stunning views of the Hudson River. of purchasers seeking an investment property with Recent capital improvements include a new boiler and great bones and immediate value-add potential. 317 WEST 74th STREET

Financial Summary Rent Roll

UNIT STATUS LEASE EXP. TYPE MONTHLY RENT* ANNUAL RENT 1A FM Vacant Studio $1,950 $23,400 1B FM 5/31/21 Studio $1,850 $22,200 1C FM 10/31/21 Studio $1,850 $22,200 2A FM Vacant Studio $1,975 $23,700 2B FM 12/31/21 Studio $1,600 $19,200 2C FM Vacant Studio $1,775 $21,300 2D FM 7/31/21 Studio $1,875 $22,500 3A FM 8/31/21 Studio $1,875 $22,500 3B FM Vacant Studio $1,775 $21,300 3C FM 6/30/21 Studio $1,825 $21,900 3D FM 8/31/21 Studio $1,950 $23,400 4A FM Vacant Studio $1,775 $21,300 4B RS 1/31/22 Studio $1,756 $21,071 4C RS 9/14/21 Studio $1,189 $14,269 4D RS Vacant Studio $1,093 $13,117 5A FM Vacant Studio $1,800 $21,600 5B FM Vacant Studio $1,800 $21,600 5C FM Vacant Studio $1,850 $22,200 5D FM 11/30/21 Studio $1,725 $20,700 TOTAL $33,288 $399,457 *Rents for vacant units are projected 317 WEST 74th STREET

Financial Summary

Revenue GROSS MONTHLY INCOME $33,288 GROSS ANNUAL INCOME $399,457 VACANCY & CREDIT LOSS 3% ($11,984) EFFECTIVE GROSS INCOME $387,473

Expenses (Projected) REAL ESTATE TAXES (21/22) $102,123 INSURANCE $0.75 / GSF $5,771 WATER & SEWER 2020 Actual Plus 3% $3,725 HEATING FUEL $1.25 / GSF $9,618 ELECTRIC (COMMON AREA) $0.35 / GSF $2,693 REPAIRS & MAINTENANCE $500 / Per Unit $9,500 ELEVATOR CONTRACT $500 / Per Month $6,000 SUPER $500 / Per Month $6,000 MANAGEMENT 3.0% of EGI $11,624 TOTAL: $157,053 Net Operating Income PRO FORMA EFFECTIVE GROSS ANNUAL INCOME $387,473 LESS EXPENSES ($157,053) NET OPERATING INCOME $230,420 317 WEST 74th STREET 317 WEST 74th STREET 317 WEST 74th STREET

FOR MORE INFORMATION, PLEASE CONTACT EXCLUSIVE AGENTS:

PAUL SMADBECK HALL OSTER Managing Director Managing Director +1 212 377 2278 +1 212 377 2136 [email protected] [email protected]

CONRAD MARTIN TEDDY GALLIGAN Vice President Vice President +1 212 377 2902 +1 212 377 2519 [email protected] [email protected]

BRAEDON GAIT Associate +1 212 812 5992 [email protected]

330 , 4th Floor New York, NY, 10017 jll.com

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. 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 Property may be withdrawn without notice. Neither Owner 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 confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. ©2019. Jones Lang LaSalle IP, Inc. All rights reserved.