1079 Fulton Street Brooklyn, NY 11238 Prime Clinton Hill 7-Story Elevator Building | 30 Apartments w/ Parking | 26,000 SF CONTACT US Lev Mavashev Alex Onishchenko, MBA Principal Senior Analyst (212) 658-0979 (212) 658-0870 [email protected] [email protected] 1079 Fulton Street, Brooklyn, NY 11238 On the corner of Fulton St & Classon Ave 7-Story Elevator Building | 30 Apartments w/ Parking | Approx 26,000 SF PROPERTY OVERVIEW Neighborhood Clinton Hill Block/Lot 01993/0003 Lot Size 118’ X 90’ (IRR) Building Size 110’ X 60’ (IRR) Building SF 26,000 SF Building Type 7-Story/Elevator Total Apartments 30 Layouts 10/2.5, 14/3.5, 6/4.5 Total Rooms 101 Zoning R7A, C2-4 FAR (built/allowed) 2.88/4.0 Taxes (20/21) $186,084 HPD Violations None Year Constructed 2005 DETAILS & HIGHLIGHTS • 7-story elevator building consisting of 30 apartments (each approx 800 SF) • The building is fully free-market • Value-add potential opportunity for luxury apartments • Building amenities include: common area lounge, laundry room & 10 parking spots • 110’ ft of frontage on Fulton Street • Building is Master Leased to a nonprofit organization through September 2021 • Prime location in Clinton Hill near Atlantic Avenue, which provides a variety of shopping, dining and transportation • Within walking distance to the Franklin Avenue Station ( trains) $15,500,000 $596 14.4X 5.6% ASKING PRICE $/SF GRM CAP Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. www.alpharealtyny.com | (212)658-0955 2 1079 Fulton Street, Brooklyn, NY 11238 On the corner of Fulton St & Classon Ave 7-Story Elevator Building | 30 Apartments w/ Parking | Approx 26,000 SF FINANCIAL OVERVIEW INCOME: MASTER LEASE TENANT* $ 1,080,000 EFFECTIVE GROSS INCOME $ 1,080,000 ESTIMATED EXPENSES: TAXES (20/21) $ 186,084 WATER & SEWER $ TENANTS PAY HEATING $ TENANTS PAY ELECTRIC $ TENANTS PAY INSURANCE $ 19,000 REPAIRS, MAINTENANCE & MISC $ TENANTS PAY TOTAL EXPENSES $ 205,084 NET OPERATING INCOME $ 874,916 * Building is under a single tenant master lease. Details available upon request. Note: Tenant is a well-funded non-profit organization and has been operating in this location since 2006. Their lease is expiring in September 2021, but they have expressed interest in renewing for an additional 5-years. $15,500,000 $596 14.4X 5.6% ASKING PRICE $/SF GRM CAP Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. www.alpharealtyny.com | (212)658-0955 3 1079 Fulton Street, Brooklyn, NY 11238 On the corner of Fulton St & Classon Ave 7-Story Elevator Building | 30 Apartments w/ Parking | Approx 26,000 SF PROPERTY IMAGES $15,500,000 $596 14.4X 5.6% ASKING PRICE $/SF GRM CAP Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. www.alpharealtyny.com | (212)658-0955 4 1079 Fulton Street, Brooklyn, NY 11238 On the corner of Fulton St & Classon Ave 7-Story Elevator Building | 30 Apartments w/ Parking | Approx 26,000 SF AERIAL VIEW $15,500,000 $596 14.4X 5.6% ASKING PRICE $/SF GRM CAP Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. www.alpharealtyny.com | (212)658-0955 5.