964-968 EAST 167TH STREET, BRONX, NY 10459 3 VACANT MIXED-USE BUILDINGS WITH AIR RIGHTS Block: 274 4 Lots: 23, 24, & 25 Neighborhood: Foxhurst Stories: 3 Lot Dimensions: 58' x 90' | ± 5,250 SF Building Size: 50.01’ x 50’ | ± 7,501 SF Residential Units: 6 Commercial Units: 2 Zoning: C2-4/R7-1 ZFA: ± 21,000 SF Combined R.E. Taxes (19/20): $7,849 ZFA with Facility Bonus: ± 25,200 SF PROFORMA Residential Units SF BRs $/SF Rent Annual 964 East 167th Street 833 2 $28.22 $1,959 $23,508 964 East 167th Street 833 2 $28.22 $1,959 $23,508 966 East 167th Street 1,250 3 $23.88 $2,487 $29,844 966 East 167th Street 1,250 3 $23.88 $2,487 $29,844 968 East 167th Street 833 2 $28.22 $1,959 $23,508 968 East 167th Street 833 2 $28.22 $1,959 $23,508 Projected Residential Totals: 5,832 $26.36 $12,810 $153,720 ***Residential rents based on 2019 Section 8 Payment Standards Commercial Units SF $/SF Monthly Rent Annual Rent 964 East 167th Street 833 $35 $2,430 $29,155 NEW PRICE: $1,750,000 968 East 167th Street 833 $35 $2,430 $29,155 Projected Retail Totals: 1,666 $35 $4,859 $58,310 MASS TRANSIT OPTIONS DESIGNATED PRICE/SF PRICE/ZFA Estimated Expenses Totals: $/SF $/Unit 2, 5, & 6 TRAIN OPPORTUNITY ZONE $233 $83 Real Estate Taxes (18/19) Actual $7,849 $1.05 $785 Development Site Advisors has been retained on an exclusive basis to arrange for the sale of 964, 966, and Insurance Projected @ $1.00 / SF $7,501 $1.00 $750 968 East 167th Street in the Bronx. The subject property consists of three (3) contiguous buildings that contain six Water & Sewer Projected @ $900 / Unit $7,200 $0.96 $900 (6) residential units and two (2) commercial units. This property offers 58 feet of frontage on East 167th Street in an Heat & Electric Projected @ $0.50 / SF $3, 751 $0.50 $375 area that is undergoing rapid redevelopment. 964, 966, and 968 East 167th Street are located in the proposed Repairs & Maintenance Projected @ $1.00 / SF $7,501 $1.00 $750 Southern Boulevard Rezoning Study Area, potentially increasing the ZFA of the site in the near future. The Property is Super Projected @ $500 / Month $6,000 $0.80 $600 in a recently designated Opportunity Zone, allowing for a long term holder to defer and even eliminate capital gains Management Projected @ 3% of GAI $6,361 $0.85 $636 tax. The Property is well located, within walking distance of three different subway lines: the 2, 5, and 6. The Property Total: $46,162 $6.15 $4,616 has about ±13,500 ZFA in air rights for future development, a total of ± 21,000 as-of-right ZFA for the 3 combined Projected Gross Income: $212,030 lots. If one was to use the facility bonus, the total ZFA is increased to ± 25,200 ZFA. The Property is surrounded Less Expenses: $46,162 by parks, playgrounds, restaurants, schools, and other residential services that add to the desirability of the area. Projected NOI: $165,868 CONTACT EXCLUSIVE ADVISORY TEAM: Lev Kimyagarov Michael Musto DEVELOPMENT SITE ADVISORS Managing Principal, Co-Founder Director 135 EAST 57TH STREET (212) 875-1800 x 2 (212) 875-1800 x 6 18TH FLOOR [email protected] [email protected] NEW YORK, NY 10022 The depiction in the included photograph of any person, entity, sign, logo or property, other than Development Site Advisors’ (DSA) client and the property offered by DSA, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and DSA or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of DSA’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.) 964-968 EAST 167TH STREET, BRONX, NY 10459 3 VACANT MIXED-USE BUILDINGS WITH AIR RIGHTS MIXED-USE BUILDING ENVELOPE Floor Use GSF 964-968 EAST 167TH STREET Commercial 1st 5,250 & Facility 2nd Residential 3,480 3rd Residential 3,480 4th Residential 3,480 5th Residential 3,480 6th Residential 3,480 7th Residential 3,480 8th Residential 2,900 C2-4/R7-1 Residential Commercial Community Facility FAR: 4.00 2.00 4.80 Lot Size: 5,250 5,250 5,250 ZFA: 21,000 10,500 25,200 Massing provided for visualization purposes only. All numbers should be independently verified by an architect. Existing: 5, 74 7 1,754 7,501 Air Rights: 15 , 253 8,747 17,699 R7 districts are medium-density apartment house districts mapped in much of the Bronx as well as the Upper West Side in Manhattan and Brighton Beach in Brooklyn. The height factor regulations for R7 districts encourage lower apartment buildings on smaller zoning lots and, on larger lots, taller buildings with less lot coverage. As an alternative, developers may choose the optional Quality Housing regulations to build lower buildings with greater lot coverage. Regulations for residential development in R7-1 and R7-2 districts are essentially the same except that R7-2 districts, which are mapped primarily in upper Manhattan, have lower parking requirements. CONTACT EXCLUSIVE ADVISORY TEAM: Lev Kimyagarov Michael Musto DEVELOPMENT SITE ADVISORS Managing Principal, Co-Founder Director 135 EAST 57TH STREET (212) 875-1800 x 2 (212) 875-1800 x 6 18TH FLOOR [email protected] [email protected] NEW YORK, NY 10022 The depiction in the included photograph of any person, entity, sign, logo or property, other than Development Site Advisors’ (DSA) client and the property offered by DSA, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and DSA or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of DSA’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.) 964-968 EAST 167TH STREET, BRONX, NY 10459 3 VACANT MIXED-USE BUILDINGS WITH AIR RIGHTS Y Southern Boulevard Neighborhood Study A W K R A P A Southern Boulevard N O T O R C A neighborhood snapshot of Assets + Opportunities Southern Boulevard ehorhood Stud The study area encompasses the Crotona Park East R7-1 CRO R6 SS BRO urrent and se + oning EXPR NX ESSWAY and Longwood neighborhoods and in general W Farms Sq - E Tremont Av 2-5 E flanks Southern Boulevard between the Cross U N E E PARK U ! ! CROTONA PARK NORTHV A VEN ! ! ! T A Crotona Park C A ! R!7-1 E N A E S O T P T ! ! ! 1 S O 76 R Bronx Expressway and East 163rd Street including O S C ! ! R R6 TR P PARK EE C8-3 T ! ! Under the 2/5: Traffic, ! ! Crotona Park Stable Homeownership Historic Architecture & C4-2 174!St 2-!5 T R7-1 the Bronx River and Crotona Park. The study area Pedestrian Safety, Lighting, S (Charlotte Gardens) Unique Character CROSS BRONX EXPWY EA ! ! ! ! K EA AR ! ! ! ! !ST NA P 1 Seating, Greening, & Noise CROTO 74 (PS98 Herman Ridder) ONT PAR ST R7A CLAREM KWAY ! ! !PARK! REET P!ARK! PARK ! ! ! ! ! ! EA ! ! ! ! ! ! ! S R1-2 OAD covers more than 130 blocks and spans parts of T OSTON R B ! ! ! ! ! ! 17 C EA 5 H ST E PARK A 1 ! ! S PARK C 73 T R ST R A L R E L EET E R7-1 O E !R7X ! T P E T C C8-3 A E U R7-1 T Y A N N U ! ! E R ! ! U PL O N ST VE T E ! B D ! A ! ST R A Community Districts (CD) 2 and 3, and a small O R E V E E O N R S A ! EB ! ET ! !F ! ! ! ! ! C O N FULTON AVENUE I O B L ! ! M ! ! ! ! B ! O I N R7-1 U E S I U R6A S ! ! ! ! ! ! A !2 E N N VE U PARK I ! ! ! VE ! ! ! C8-1 N N A E R8X U VEN B ! ! ! A ! ! ! area of CD9 (one block of the western shore E O E YSE CROTONA PARK U V ! ! ! !O ! ! ! L D H EV R ! ! !A ! ! ! A V R E D ! ! L ! ! ! U ! ! O ! ! ! S E B Vacant Retail NT ROTONA A Disconnected Retail D C S A MO U T N of the Bronx River). The area is home to almost E ! ! ! ! LAR ST P R O C EA B 1 RK 7 E R Y PA L 4 KWA U H R ! ! ! S PA A S T R T U M C R R B EE ! O ! ! E T S A A M1-1 F N T S E STON FREEMAN STREET W Y BO A R6 D OA E 60,000 residents, of which 67% are of Hispanic R SW W E ! ! ! E PARK U A U I C S E L Freeman St 2-5 N ES H T E U N K ! ! E A R I E 1 E A 7 S V P A N 3 S T V S C T VEN A V R A E S 1 A ! ! ! A B 7 EX T T N L R R 4 R7-2 E L I W E L N U O E N E E E D ! ! A ! ! O G R7-1 A P T A T C E V Y U L R REET D ST I L T A OME R Y N ! ! ! E ! ! ! H E T B E L E F ER R IN origin, according to the 2010 Census.