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WEBSTER CARTER PORTFOLIO ParkAve EStSt 2 1674 Carter Avenue 1715 Webster Avenue 1680 Carter Avenue 1731 Webster Avenue CONFIDENTIAL OFFERING MEMORANDUM EthSt MortonPl EBurnsideAve EstSt EthSt EthSt WTremontAve CrestonAve B ValentineAve EthSt EthSt MorrisAve MontereyAve WthSt EchoPl D RyerAve AldenPl EthSt EthSt rdAve EchoPl GrandAve MtHopePl BathgateAve TREMONT EthSt HarrisonAve ETremontAve AnthonyAve WthSt EthSt ETremontAve MtHopePl WthSt GrandConcourse ¤£1 DavidsonAve TownsendAve EthSt MOUNT HOPE EthSt JeromeAve HenwoodPl WthSt MontereyAve WashingtonAveCLAREMONT LaFontaineAve ArthurAve -BATHGATE WCliordPl EthSt EthSt HughesAve WthSt EthSt CarterAve ECliordPl ToppingAve EthSt BelmontAve FeatherbedLn ProspectPl WeeksAve B EastburnAve ArthurAve ClayAve InwoodAve D 95 3A ¦¨§ ParkAve EthSt 2B IttnerPl BelmontAve EthSt IttnerPl EthSt 95 ¦¨§ CrotonaAveFairmountPl EMtEdenAve EthSt EastburnAve MonroeAve CrossBronxExpyS 3 EthSt AnthonyAve CarterAve ToppingAve GrandConcourse EthSt MtEdenPkwy ErdSt MtEdenPkwy EthSt HawkstoneSt EMtEdenAve CrotonaParkN TownsendAve EthSt WebsterAve FultonAve BelmontSt RockwoodSt SheridanAve ClintonAve EndSt WaltonAve ProspectAve SelwynAve ErdSt EndSt BathgateAve B TellerAve D EndSt EstSt EndSt WythePl • WEBSTER CARTER PORTFOLIO ParkAve EstSt 2 MorrisAve ClaremontPkwy EthSt GrandConcourseSt CollegeAve EthSt MortonPl EBurnsideAve EstSt EthSt EthSt WTremontAve CrestonAve B ValentineAve EthSt EthSt MorrisAve MontereyAve WthSt EchoPl D RyerAve AldenPl EthSt EthSt rdAve EchoPl GrandAve MtHopePl BathgateAve TREMONT EthSt HarrisonAve ETremontAve AnthonyAve WthSt EthSt ETremontAve MtHopePl WthSt GrandConcourse ¤£1 TABLE OF DavidsonAve TownsendAve EthSt MOUNT HOPE EthSt WthSt JeromeAve HenwoodPl CONTENTSMontereyAve WashingtonAveCLAREMONT LaFontaineAve ArthurAve -BATHGATE WCliordPl EXECUTIVE SUMMARY ������������������������EthSt5 EthSt HughesAve WthSt EthSt CarterAve ECliordPl PORTFOLIO HIGHLIGHTS ................... 8 ToppingAve EthSt BelmontAve FeatherbedLn ProspectPl PROPERTY INFORMATION ���������������12 WeeksAve B EastburnAve ArthurAve ClayAve InwoodAve D INVESTMENT BREAKDOWN ...........16 95 3A ¦¨§ ParkAve EthSt 2B IttnerPl NEIGHBORHOOD ................................BelmontAve26 EthSt IttnerPl EthSt 95 DUE DILIGENCE ...................................30CrotonaAve ¦¨§ FairmountPl EMtEdenAve EthSt EastburnAve MonroeAve CrossBronxExpySDISCLAIMER ..........................................42 3 EthSt AnthonyAve CarterAve ToppingAve GrandConcourse EthSt MtEdenPkwy ErdSt MtEdenPkwy EthSt HawkstoneSt EMtEdenAve CrotonaParkN TownsendAve JONATHAN SQUIRES JOSH NEUSTADTER EthSt WebsterAve FultonAve Senior Director Senior Associate BelmontSt RockwoodSt 212 660 7775 212 660 7739 [email protected] [email protected] SheridanAve ClintonAve EndSt MICHAEL FIORAVANTI MAURICE SUEDE Associate Director Director WaltonAve 212 589 5119 212 589 5131 ProspectAve SelwynAve [email protected] [email protected] ErdSt EndSt BathgateAve TellerAve DANIEL SOYAK B Associate 212 698 5552 D EndSt [email protected] EstSt EndSt WythePl ParkAve EstSt 3 MorrisAve ClaremontPkwy EthSt GrandConcourseSt CollegeAve BLOCK 2889 LOT 61 1674 1680 Carter Avenue Carter Avenue CARTER AVENUE EAST 174 STREET EAST 173 STREET 1715 1731 BLOCK 2889 Webster Avenue Webster Avenue LOT 88 WEBSTER AVENUE EAST 173 STREET 1715 Webster Avenue BLOCK 2889 1731 LOT 88 BLOCK 2889 Webster Avenue LOT 61 WEBSTER AVENUE EAST 174 STREET 1680 1674 Carter Avenue Carter Avenue CARTER AVENUE 4 • WEBSTER CARTER PORTFOLIO EXECUTIVE SUMMARY Cushman & Wakefield is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of the Webster Carter Portfolio; a multi parcel assemblage EAST 174 STREET encompassing almost an entire city block in the Bronx. The portfolio is comprised of two tax lots; 1715 Webster Avenue (Block: 2889 Lot: 88) and 1731 Webster Avenue aka 1674- 1700 Carter Avenue (Block: 2889 Lot: 61). The Webster Carter Portfolio spans the entire blockfront of Carter Avenue between East 173rd and 174th Streets and boasts over 400’ of corner wrap around frontage from East 174th Street onto Webster Avenue. Together, the parcels combine to offer approximately 40,698 square feet of land and 24,813 square feet of building. 1731 Webster Avenue and 1674-1700 Carter Avenue (Block: 2889 Lot: 61) is located on the west side of Webster Avenue and extends through to Carter Avenue between East 173rd and 174th Streets. The property features approximately 14,513 square feet of rentable space across 3 separate buildings. • 1731 Webster Avenue is located on the corner of Webster Avenue and East 174th Street and consists of 13,840 square feet. The site is improved by a 2,800 SF single story retail property and is currently leased on a NNN basis to KFC/Taco Bell. • 1674 Carter Avenue is located on the corner of Carter Avenue and East 173rd Street and consists of 12,900 square feet. The site is improved by a 6,688 SF garage with rear basement and is currently leased to 3 commercial tenants. EAST 173 STREET • 1680-1700 Carter Avenue is located on corner of Carter Avenue and East 174th Street. The property consists of roughly 5,025 square feet. The property is improved by multiple one-story garages with basements and is currently leased to 3 tenants. 1715 Webster Avenue (Block: 2889 Lot: 88) is located on the west side of Webster Avenue between East 173rd and 174th Streets. The property is an approximately 100’ x 70’ mixed use building with 4 ground floor retail spaces and 2 residential apartments. The retail units are currently 100% leased while the residential portion of the property remains vacant. Located in the Claremont neighborhood of the Bronx, the portfolio is accessible via several transportation methods. The properties are within walking distance to the 174th- 175th Street subway station serviced by the B & D Trains and are also accessible by the numerous bus routes that canvass the area. Additionally, vehicular access is provided by the Sheridan, Bruckner, and Cross-Bronx Expressways, and the Bronx River Parkway. Offering ease of access, stable cash flow, flexibility of use and immense scale, the Webster Carter Portfolio stands out as a truly rare Bronx investment opportunity. 5 LOCATION MAP ClayAve ParkAve ¦¨§95 IttnerPl E thSt IttnerPl 1680 Carter Avenue MonroeAve E thSt 1731 Webster Avenue CarterAve AnthonyAve ErdSt 1674 WebsterAve Carter Avenue 1715 Webster Avenue ToppingAve EMtEdenAve Claremont BelmontSt Park 6 • WEBSTER CARTER PORTFOLIO 7 PORTFOLIO HIGHLIGHTS ~41,000 One Square Feet or Land with NNN Lease Retail Building Frontage on 4 Streets with Drive-thru and Parking ~23,113 Six Gross Square Multi-Level Garages Rentable Feet 100% Accessible Commercial Occupancy by B&D trains One 3-story Proximity to Mixed Use Building Cross Bronx, Sheridan, & Bruckner Expressways 8 • WEBSTER CARTER PORTFOLIO INCOME MIX $48,000 9% $191,520 $278,923 37% 54% Residential Commercial Retail SQUARE FOOTAGE MIX 2,100 11,000 9% 44% 11,713 47% Residential Commercial Retail 9 1674 Carter Avenue 1715 Webster Avenue 10 • WEBSTER CARTER PORTFOLIO BLOCK 2889 LOT 88 1680 Carter Avenue 1731 Webster Avenue BLOCK 2889 LOT 61 11 PROPERTY INFORMATION PROPERTY INFORMATION Address: 1731 Webster Avenue 1674 Carter Avenue 1680-1700 Carter Avenue Combined 1715 Webster Avenue Combined Portfolio Bronx, NY 10457 Bronx, NY 10457 Bronx, NY 10457 Bronx, NY 10457 Bronx, NY 10457 Bronx, NY 10457 Block & Lot: 2889-61 2889-61 2889-61 2889-61 2889 - 88 2889 - 61, 88 Lot Dimensions: 165' x 76' 213' x 68.25' 187' x 35' Irregular 100' x 75' Irregular Irregular Lot SF: 13,840 12,900 7,403 34,143 6,555 40,698 SF (approx.) BUILDING INFORMATION Stories: 1 1 1 1 3 Parking Spaces: 15 Above Grade Gross SF: 2,800 6,688 5,025 14,513 10,300 24,813 SF (approx.) Below Grade Gross SF: 0 0 0 0 0 0 SF (approx.) Total Gross SF: 2,800 6,688 5,025 14,513 10,300 24,813 SF (approx.) Residential Units: 0 0 0 0 2 2 Commercial Units: 1 3 3 7 4 11 Total Units: 1 3 3 7 6 13 Gross Residential SF: 2,100 2,100 SF (approx.) Net Residential SF: 1,785 1,785 15% Loss Factor Avg. Net Unit SF: 893 893 SF (approx.) Above Grade Commercial SF: 2,800 6,688 5,025 14,513 8,200 22,713 SF (approx.) Assessment (21/22): $848,700 $647,550 $1,496,250 Annual Property Tax (21/22): $90,760 $69,249 $160,009 Tax Rate: 10.6940% 10.6940% 10.6940% Tax Class: 4 4 4 ZONING INFORMATION Zoning: M1-1 M1-1 M1-1 Residential FAR: 1.00 1.00 1.00 Community Facility FAR: 2.40 2.40 2.40 Total Buildable SF (As-of-Right): 34,143 6,555 40,698 SF (approx.) Less Existing Structure: (14,513) (10,300) (14,513) SF (approx.) Available Air Rights (As-of-Right): 19,630 Overbuilt 26,185 SF (approx.) 12 • WEBSTER CARTER PORTFOLIO PROPERTY INFORMATION Address: 1731 Webster Avenue 1674 Carter Avenue 1680-1700 Carter Avenue Combined 1715 Webster Avenue Combined Portfolio Bronx, NY 10457 Bronx, NY 10457 Bronx, NY 10457 Bronx, NY 10457 Bronx, NY 10457 Bronx, NY 10457 Block & Lot: 2889-61 2889-61 2889-61 2889-61 2889 - 88 2889 - 61, 88 Lot Dimensions: 165' x 76' 213' x 68.25' 187' x 35' Irregular 100' x 75' Irregular Irregular Lot SF: 13,840 12,900 7,403 34,143 6,555 40,698 SF (approx.) BUILDING INFORMATION Stories: 1 1 1 1 3 Parking Spaces: 15 Above Grade Gross SF: 2,800 6,688 5,025 14,513 10,300 24,813 SF (approx.) Below Grade Gross SF: 0 0 0 0 0 0 SF (approx.) Total Gross SF: 2,800 6,688 5,025 14,513 10,300 24,813 SF (approx.) Residential Units: 0 0 0 0 2 2 Commercial Units: 1 3 3 7 4 11 Total Units: 1 3 3 7 6 13 Gross Residential
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