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1381 MADISON STREET BUSHWICK, BROOKLYN, NY
DJ JohnstonPartner, Senior Managing Director(646) [email protected]
Bryan KirkDirector(646) [email protected]
William ChengDirector(646) [email protected]
Michael MurphyAssociate(646) 933-2639 [email protected]
For further information, please contact exclusive agents:
B6 Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make norepresentation as to the condition of the property (or properties) in question.
B6 REAL ESTATE ADVISORS1040 Avenue of the Americas, 8th Floor, New York, NY 10018
B6RealEstateAdvisors.com
FOR SALE
Asking Price
$3,400,000
FOR SALEGUT RENOVATED
1381 Madison StreetBushwick, Brooklyn, NY
Walkup Multifamily | 4,350 SF + Duplex | 6 Residential Units
B6 Real Estate Advisors has been retained on an exclusive basis to arrange
for the sale of 1381 Madison Street, a turn key fully renovated walk-up
building in the Bushwick neighborhood of Brooklyn.
• 1381 Madison Street is a 25’ x 58’ six family, consisting of 4,350 SF across
three stories.
• The property underwent a full renovation of all units, common areas,
mechanicals, and roof, offering an easy to manage investment.
• Building benefits from laundry room for all in basement, and individual
central air conditioning and heat for each unit.
• The property also benefits from close proximity to many of Bushwick’s
already flourishing art galleries, night life, and dining options.
• Public transportation is available with ----- trains within four blocks,
providing convenient access to Williamsburg and Manhattan.
ML
100% FREE MARKET
Gross Annual Income $211,800
Vacancy & Credit Loss @ 3% $6,354
Effective Gross Income $205,446
Less Total Expenses $32,353
Projected Net Operating Income $173,093
Building Features
LocationNorthwest side of Madison Street betweenRidgewood Place and Irving Avenue.
Block & Lot 3362 / 32
Lot Dimension 25' x 80'
Lot SF 2,000
Building Dimensions 25' x 58'
Stories 3 + Duplex
Gross Building SF 4,350 SF + Duplex
Units 6
Zoning / FAR R6 / 2.2
Buildable SF 4,400
Assessment ('18/'19) $90,172 Tax Class 2A
R.E. Taxes ('18/'19) $11,372
Information presented herein is subject to change and should be individually verified All measurements and square footage estimates are approximate
B6 Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make norepresentation as to the condition of the property (or properties) in question.
B6 REAL ESTATE ADVISORS1040 Avenue of the Americas, 8th Floor, New York, NY 10018
B6RealEstateAdvisors.com
DJ JohnstonPartner, Senior Managing Director(646) [email protected]
Bryan KirkDirector(646) [email protected]
William ChengDirector(646) [email protected]
Michael MurphyAssociate(646) 933-2639 [email protected]
For further information, please contact exclusive agents:
B6 Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make norepresentation as to the condition of the property (or properties) in question.
B6 REAL ESTATE ADVISORS1040 Avenue of the Americas, 8th Floor, New York, NY 10018
B6RealEstateAdvisors.com
DJ JohnstonPartner, Senior Managing Director(646) [email protected]
Bryan KirkDirector(646) [email protected]
William ChengDirector(646) [email protected]
Michael MurphyAssociate(646) 933-2639 [email protected]
For further information, please contact exclusive agents:
Estimated Expenses B6 Metrics
Real Estate Taxes (18/19) NYC DOF Tax Bill $11,372
Insurance $400 / Unit $2,400
Water & Sewer $0.75 / GSF $3,888
Heating Fuel $1.50 / GSF --
Electric (Common) $0.15 / GSF $778
Repairs & Maintenance $500 / Unit $3,000
Superintendent $250 / Month $3,000
Management 4.0% of EGI $7,915
Total Exp. Ratio: 21% $32,353
1381 Madison StreetBushwick, Brooklyn, NY
L
1381 Madison Street
Gross Annual Income $211,800
Vacancy & Credit Loss @ 3% $6,354
Effective Gross Income $205,446
Revenue
Unit Type Lease Exp. NSF $ / SF Rent Annual
Apt. 1L 3 BR - Duplex 7/31/2019 640 $65 $3,450 $41,400
Apt. 1R 3 BR - Duplex 8/31/2019 640 $68 $3,650 $43,800
Apt. 2L 3 BR 8/31/2019 640 $48 $2,550 $30,600
Apt. 2R 3 BR 8/31/2019 640 $51 $2,700 $32,400
Apt. 3L 3 BR 10/31/2019 640 $50 $2,650 $31,800
Apt. 3R 3 BR 9/30/2019 640 $50 $2,650 $31,800
3,840 $55 $17,650 $211,800
Effective Gross Income $205,446
Less Total Expenses $32,353
Projected Net Operating Income $173,093
M
B6 Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make norepresentation as to the condition of the property (or properties) in question.
B6 REAL ESTATE ADVISORS1040 Avenue of the Americas, 8th Floor, New York, NY 10018
B6RealEstateAdvisors.com
DJ JohnstonPartner, Senior Managing Director(646) [email protected]
Bryan KirkDirector(646) [email protected]
William ChengDirector(646) [email protected]
Michael MurphyAssociate(646) 933-2639 [email protected]
For further information, please contact exclusive agents:
B6 Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make norepresentation as to the condition of the property (or properties) in question.
B6 REAL ESTATE ADVISORS1040 Avenue of the Americas, 8th Floor, New York, NY 10018
B6RealEstateAdvisors.com
DJ JohnstonPartner, Senior Managing Director(646) [email protected]
Bryan KirkDirector(646) [email protected]
William ChengDirector(646) [email protected]
Michael MurphyAssociate(646) 933-2639 [email protected]
For further information, please contact exclusive agents: