FOR SALE - LoopNet...SIZE (SF) RENT RENT/SF MARKET RENT MARKET RENT/SF DEPOSIT 0 br / 1 ba 8 80.0 0 $1,194 $0 $0 1 br / 1 ba 1 10.0 0 $2,206 $0 $0 2 br / 1 ba 1 10.0 0 $3,910 $0 $0

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10-UNIT BUILDING FOR SALE INCLINTON HILL$3,800,000

316 Clinton AvenueBrooklyn, NY 11205

AVAILABLE SPACE6,786 SF

OFFICE

Joseph [email protected]

©2019 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Reliable Real Estate. All rights reserved.Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marks owned byColdwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fullysupports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently ownedand operated. The information provided is deemed reliable, but it is not guaranteed to be accurate or complete,and it should not be relied upon as such. This information should be independently verified before any personenters into a transaction based upon it.

COLDWELL BANKER COMMERCIALRELIABLE REAL ESTATE7428 5th Avenue, Brooklyn, New York 11209718.921.3100

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Joseph [email protected] RELIABLE REAL ESTATE

OFFERING SUMMARY

Sale Price: $3,800,000

Number Of Units: 10

Cap Rate: 3.91%

NOI: $148,598

Lot Size: 0.08 Acres

Year Built: 1905

Building Size: 6,786 SF

Zoning: R6B

Market: Brooklyn

Submarket: Clinton Hill

Price / SF: $559.98

PROPERTY OVERVIEWA Clinton Hill Historic District rare find for any Owner-User and/or Investor that isinterested in doing a 1031 Exchange. This elegant, gilded mansion is located onBrooklyn’s “Gold Coast,” and it was designed in 1884, at the height of Brooklyn’sgilded age. Originally designed and built to attract New York’s most affluentresidents, this property preserves many of its original divine architectural detailsthat define its charm. A 10-unit building, this property is a great opportunity and acertain investment for a variety of development ideas, as it is situated amongsome of the most beautiful mansions in Brooklyn and nestled on a wide tree-linedstreet that has come to define the historic and highly-desirable Clinton Hill. The6,786 square foot building on the lot features 8 studio apartments; 1-1 bedroomapartment; a ground floor that has 2.5 bedrooms; a basement with clean spacefor storage (with opportunity for development of livable space); and a spaciousbackyard. The home also has an impeccably kept mahogany staircase that retainsthe splendor of its original era and a grand foyer that takes you back to anotherera, uniquely designed with stained glass and restored sunlit units. A must see –this property offers endless opportunities, including the development of a homeoffice with street access. Conveniently located, 316 Clinton Avenue is close to theBarclay Center, the Brooklyn Academy of Music, Saint Joseph’s College, publictransportation, and so much more!

• Clinton Hill Historic District

• 10-Unit Property

• Original Details in the Building

• Close to the Barclay Center, the Brooklyn Academy of Music, Saint Joseph’sCollege, public transportation

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316 Clinton Avenue, Brooklyn, NY 11205

10-UNIT BUILDING FOR SALE IN CLINTON HILL

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OFFERING SUMMARY

Sale Price: $3,800,000

Number of Units: 10

Lot Size: 3,383 SF


NOI: $148,598.80

Cap Rate: 3.91%

DEMOGRAPHICS 0.25 MILES 0.5 MILES 1 MILE

Total Households 5,404 18,245 54,055

Total Population 10,944 40,635 129,237

Average HH Income $90,932 $83,939 $80,179

PROPERTY DESCRIPTION

A Clinton Hill Historic District rare find for any Owner-User and/orInvestor that is interested in doing a 1031 Exchange. This elegant,gilded mansion is located on Brooklyn’s “Gold Coast,” and it wasdesigned in 1884, at the height of Brooklyn’s gilded age.Originally designed and built to attract New York’s most affluentresidents, this property preserves many of its original divinearchitectural details that define its charm. A 10-unit building, thisproperty is a great opportunity and a certain investment for avariety of development ideas, as it is situated among some of themost beautiful mansions in Brooklyn and nestled on a widetree-lined street that has come to define the historic andhighly-desirable Clinton Hill. The 6,786 square foot building onthe lot features 8 studio apartments; 1-1 bedroom apartment; aground floor that has 2.5 bedrooms; a basement with clean spacefor storage (with opportunity for development of livable space);and a spacious backyard. The home also has an impeccably keptmahogany staircase that retains the splendor of its original era anda grand foyer that takes you back to another era, uniquelydesigned with stained glass and restored sunlit units. A must see –this property offers endless opportunities, including thedevelopment of a home office with street access. Convenientlylocated, 316 Clinton Avenue is close to the Barclay Center, theBrooklyn Academy of Music, Saint Joseph’s College, publictransportation, and so much more!

PROPERTY HIGHLIGHTS




• Close to the Barclay Center, the Brooklyn Academy of Music,Saint Joseph’s College, public transportation

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SALE HIGHLIGHTS




• Close to the Barclay Center, the Brooklyn Academy of Music,

Saint Joseph’s College, public transportation

Property Name: 10-Unit Building For Sale in Clinton Hill

Property Address: 316 Clinton Avenue, Brooklyn, NY 11205

Property Type: Multifamily

Lot Size: 3,383 SF


Zoning: R6B

Rail Access: N/A

Year Built: 1905

Number of Stories: 3

Number of Units: 10

PROPERTY OVERVIEW

A Clinton Hill Historic District rare find for any Owner-User and/orInvestor that is interested in doing a 1031 Exchange. This elegant,gilded mansion is located on Brooklyn’s “Gold Coast,” and it wasdesigned in 1884, at the height of Brooklyn’s gilded age.Originally designed and built to attract New York’s most affluentresidents, this property preserves many of its original divinearchitectural details that define its charm. A 10-unit building, thisproperty is a great opportunity and a certain investment for avariety of development ideas, as it is situated among some of themost beautiful mansions in Brooklyn and nestled on a widetree-lined street that has come to define the historic andhighly-desirable Clinton Hill. The 6,786 square foot building onthe lot features 8 studio apartments; 1-1 bedroom apartment; aground floor that has 2.5 bedrooms; a basement with clean spacefor storage (with opportunity for development of livable space);and a spacious backyard. The home also has an impeccably keptmahogany staircase that retains the splendor of its original eraand a grand foyer that takes you back to another era, uniquelydesigned with stained glass and restored sunlit units. A must see– this property offers endless opportunities, including thedevelopment of a home office with street access. Convenientlylocated, 316 Clinton Avenue is close to the Barclay Center, theBrooklyn Academy of Music, Saint Joseph’s College, publictransportation, and so much more!

LOCATION OVERVIEW

Clinton Hill is bordered by the Brooklyn Navy Yard and theBrooklyn-Queens Expressway to the north, Williamsburg to thenortheast, Classon Avenue and Bedford–Stuyvesant to the east,Atlantic Avenue and Prospect Heights to the south and southwestand Vanderbilt Avenue and Fort Greene to the west

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INVESTMENT OVERVIEW 10-UNIT BUILDING FOR SALE IN CLINTON HILL

Price $3,800,000

Price per Unit $380,000

GRM 20.2

CAP Rate 3.9%

Cash-on-Cash Return (yr 1) 3.91 %

Total Return (yr 1) $148,598

Debt Coverage Ratio -

OPERATING DATA 10-UNIT BUILDING FOR SALE IN CLINTON HILL

Gross Scheduled Income $188,023

Other Income -

Total Scheduled Income $188,023

Vacancy Cost $0

Gross Income $188,023

Operating Expenses $39,425

Net Operating Income $148,598

Pre-Tax Cash Flow $148,598

FINANCING DATA 10-UNIT BUILDING FOR SALE IN CLINTON HILL

Down Payment $3,800,000

Loan Amount -

Debt Service -

Debt Service Monthly -

Principal Reduction (yr 1) -

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INCOME SUMMARY 10-UNIT BUILDING FOR SALE IN CLINTON HILL

Rental Income $188,023

Gross Income $188,023

EXPENSE SUMMARY 10-UNIT BUILDING FOR SALE IN CLINTON HILL

Property Tax $22,400Property Insurance $6,100Water and Sewer $5,200Common Electric $1,575Heating $4,150

Gross Expenses $39,425

Net Operating Income $148,598

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UNIT

NUMBER

UNIT

BED

UNIT

BATH

CURRENT

RENT

1 0 1 $336

2 0 1 $2,075

3 0 1 $1,616

4 0 1 $709

5 0 1 $2,240

6 0 1 $349

7 0 1 $1,800

8 0 1 $427

9 1 1 $2,206

10 2 1 $3,910

Totals/Averages $15,668

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UNIT TYPE COUNT%

TOTAL

SIZE

(SF)RENT RENT/SF

MARKET

RENT

MARKET

RENT/SFDEPOSIT

0 br / 1 ba 8 80.0 0 $1,194 $0 $0

1 br / 1 ba 1 10.0 0 $2,206 $0 $0

2 br / 1 ba 1 10.0 0 $3,910 $0 $0

Totals/Averages 10 100% 0 $15,668 $0 $0

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POPULATION 0.25 MILES 0.5 MILES 1 MILE

Total population 10,944 40,635 129,237

Median age 37.1 34.5 32.3

Median age (Male) 38.6 35.8 32.4

Median age (Female) 36.0 33.8 32.3

HOUSEHOLDS & INCOME 0.25 MILES 0.5 MILES 1 MILE

Total households 5,404 18,245 54,055

# of persons per HH 2.0 2.2 2.4

Average HH income $90,932 $83,939 $80,179

Average house value $624,062 $619,530 $650,729

* Demographic data derived from 2010 US Census

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JOSEPH GIORDANOVice President

[email protected]

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This offering has been prepared solely for informational purposes. It is designed to assist a potential tenant in determining whether it wishes to proceed with an in- depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the Coldwell Banker Reliable Commercial Division or by Ownership.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent of Coldwell Banker Reliable Commercial Division or the property Ownership.

Interested lessees should be aware that the lessor is leasing the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to lease, as appropriate, lessee will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the lessee’s choosing.

The Owner reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to lease or purchase must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract to lease or purchase and prepared by the Owner or their representatives and executed by both parties; and (iii) approved by the Owner and such other parties who may have an interest in the Property. Neither the prospective tenant or purchaser nor Owner shall be bound until execution of a formal lease or contract of sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.

Prospective tenants or purchasers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

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JOSEPH GIORDANO

Vice President

[email protected]: 718.921.3100 | Cell: 917.650.2647

PROFESSIONAL BACKGROUND

Joseph Giordano began his highly-successful real estate career in 1986 and joined Coldwell Banker Reliable Residential & Commercialin 2012. Thereafter, in five short years, Joseph managed to become one of the top agents at his firm. With more than three decades ofexperience as a professional in the real estate industry, Joseph offers his clients a wealth of unparalleled knowledge and strategies tosuccessfully execute a broad range of residential, investment and commercial real estate sales. Joseph specializes in residential &commercial real estate deals including the sale and lease of multi-family properties, vacant land, development sites, investmentproperties, luxury properties, single family, and condos. He has repeatedly raised the bar in providing exemplary customer service tohis clients by making himself readily available at all times to resolve any and all of his client needs related to the real estate process. Asa confident entrepreneur and businessman for more than 30 years, Joseph Giordano has acquired the necessary skills to negotiate andclose the most complex and difficult deals. Understanding the importance of showcasing properties, Joseph offers his clients the fulladvantage of benefits and resources Coldwell Banker Reliable has to offer. In particular, he uses Coldwell Banker's huge nationalnetwork and advanced marketing strategies and tools to further the interests of his clients by exposing his clients' properties to a widerange of potential buyers that the property would not otherwise be exposed to. Ultimately, Joseph knows how to get things done. Herepresents his clients with honesty, integrity and with the utmost diligence. Buying and selling your property is a complex process.Meet with Joseph today to learn more on how to professionally market your property to get the best deal possible. Joseph will readilyorganize a team of professionals that will get you to the closing table immediately. In the meantime, Joseph's services will includedetailed progress reports on the status of the sale of your property. He is motivated in gaining a friend with every real estatetransaction and be your personal agent for life! Give him a call to get a proper evaluation of your property.

Top Producer 2016 - 2019 International President's Elite.

RELIABLE REAL ESTATE7428 5th Avenue

Brooklyn, New York 11209718.921.3100

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Documents

FOR SALE - LoopNet...SIZE (SF) RENT RENT/SF MARKET RENT MARKET RENT/SF DEPOSIT 0 br / 1 ba 8 80.0 0 $1,194 $0 $0 1 br / 1 ba 1 10.0 0 $2,206 $0 $0 2 br / 1 ba 1 10.0 0 $3,910 $0 $0