Mixed use property

23-Units, Mixed-Use corner Building for $2.600.000

The address is 2299 Adam Clayton Powell Boulevard.

On the corner of 135th street and Adam Clayton Powell Boulevard.

3 commercial stores 23-RS units

Incomes

1. Apartments - 251.580 annually
2. Commercial stores - $158,891 annually
3. Antenna - $11,398 annually 

GROSS INCOME - $ 421869  

RE taxes - 104.197

Electricity & Gas $18,000

Tax Reimbursement ($11,133)

 Repairs & Maintenance $15,000

Water & Sewer $11,143 

Exterminating $1,568

Insurance $19,550 

Legal/Miscellaneous $8,192

Super $7,500 

Management $16,384

$298 / $/SF

Net Operating Income: $219,201

8.5% Cap Rate

THREE STORY MIXED-USE BUILDING,
One store, two apartments

Basement: 20’ x 45’ = 900
1st Fl: 20’ x 45’ = 900
2nd Fl: 20’ x 45’ = 900
3rd Fl: 20’ x 45’ = 900
R6 (2.43) with a C1-3 Overlay (2.0) Height Limit 70’
A 20’ wide two-unit three story mixed use building. The property has a 
store on the ground floor, which has access to the basement. The second 
floor is a three-bedroom floor-through apartment. The third floor is a four bedroom floor-through apartment. 
The units have a full kitchen and full bathroom and are individually 
metered for gas and electric. The meters are in the basement and the boiler 
and water heater is gas.
Real Estate Taxes: $6,124.00
Water & Sewer: $3,200.00
Insurance: $3,400.00
Heat (Gas): $3,200.00
Electric: (common areas) $1,200.00
Repairs & Maintenance:
Total Annual Expenses
$2,750.00
$19,874.00
First Floor: Store Commercial $2,500 Mo-Mo $2,750
Second Floor: #1, 3 Bd Apt Free Market $1,700 Mo-Mo $3,000 
Third Floor: #2, 4 Bd Apt Free Market $2,200 Mo-Mo $3,750 
Monthly Income: $6,400 $9,500
Annual Income: $76,800 $114,000

Two corner, mixed-use buildings with a store and fully free market status 4 bedroom units. 
- Extremely low taxes
- Asking cap rate nearing 10%
- Projected cap rates exceeding 12%
- Development rights available
- Desirable unit mix of all three-bedroom apartments
- Unheard-of going-in cap rate of over 9.5% in Brooklyn
Don't miss this chance to acquire a premier portfolio in one of Brooklyn's most sought-after neighborhoods. Contact us today to schedule a viewing and take advantage of this exceptional investment opportunity

VERY LOW TAX
SECTION 8 RENT ROLL
Email me for more details at vardan@avenuesny.com

This is a four story mixed use vacant corner building in a great location.

The grocery store has great exposure, they get customers from the east, west and south side of the street. They also occupy the basement, the rent is $5,500 per month and the lease expires in 5/24/25. The second floor is a two-bedroom floor through apartment. The apartment has a full kitchen and bathroom. The unit has 10’ ceilings and gets great sunlight. The rent is $2,500 and they are on a month to month basis. The third floor is a two-bedroom floor through apartment. The apartment has a full kitchen and bathroom. The unit has 10’ ceilings and gets great sunlight. The rent is $2,500 and they are on a month to month basis. The third floor is a two-bedroom floor through apartment. The apartment has a full kitchen and bathroom. The unit has 10’ ceilings and gets great sunlight. The rent is $2,500 and they are on a month to month basis. Income: Unit Description Unit Type Rev Projected Store: Store Commercial $5,500 $6,500 Second Floor: 1 2 Bd Apt Free Market $2,500 $3,500 Third Floor: 2 2 Bd Apt Free Market $2,500 $3,500 Fourth Floor: 3 2 Bd Apt Free Market $2,500 $3,500 Monthly Income: $13,000 $17,000 Annual Income: $156,000 $204,000 Expenses: Real Estate Taxes: $17,129.76 Water & Sewer: $3,200.00 Insurance: $2,700.00 Heat (Gas): $3,200.00 Electric: (common areas) $1,200.00 Repairs & Maintenance: Total Annual Expenses $2,300.00 $29,729.76 Net Operating Income: $174,270.24 CAP RATE: 8.3%

This a 5 unit building with a commercial space on the corner of 1st floor, All units are free market, will be delivered vacant, projected rent is from 4000 to 4500 monthly. plus 2500 rent per store. FOR $3.750.000

Location: South west corner of Herkimer Street and Howard Avenue 

Block: 1558 

Lot: 19 

Lot Size: (Built) 

Building Size: 

Building Square Footage: 

Stories: 75’ x 50’ 75’ x 32’ 5,700 (approx) 2 

Zoning: (FAR) R6B (2.0) Height Limit 50’ 

Total Buildable Square Feet: 

Total Available Air Rights: 

7,500 

1,800 

Assessment: Real Estate Taxes: 

$126,359 (23/24) 

$15,797.40 

Description: A package of five buildings on one lot. The property has five apartments and a corner commercial space on the ground floor. All the units are free market and delivered vacant. The apartments are four three-bedroom units and one unit is a one-bedroom apartment over the store. The property is a prime investment opportunity, an investor can always rent out the apartments at full market value. The units have been renovated with new full kitchen and bathroom, nice wood floors and beautiful expose brick walls. There will always be a strong demand for the units since each apartment is a separate building and is close to the A & C trains and Fulton Street. 

Opportunity: A developer can duplex the top floor by adding on the 1,800 square feet of air rights and then separate the tax lots and sell the five buildings individually. The property is in an area that under a lot of development and close to all modes of transportation. The A and C train is on Ralph & Fulton Street within 10-15 minutes the new owner or owners will be in the city. The building has great residential exposure the units get great sunlight. The corner commercial space has great commercial exposure and would be great for any retail or office use. 

Income: 

Unit Description Unit Type Rev Projected 

286 Howard: 1 1 Bd Apt Free Market $2,400 $2,650 Store $0.00 $3,500 

288 Howard: 2 3 Bd Apt Free Market $4,000 $4,500 

290 Howard: 3 3 Bd Apt Free Market $4,000 $4,500 

292 Howard: 4 3 Bd Apt Free Market $4,000 $4,500 

1030 Herkimer: 5 3 Bd Apt Free Market $4,000 $4,500 

Monthly Income: $18,400 $24,150 

Annual Income: $220,800 $289,800 

Expenses: 

Real Estate Taxes: $15,797.40 

Water & Sewer: $2,400.00 

Insurance: $3,700.00 

Heat (Gas): $3,200.00 

Electric: (common areas) $2,200.00 

Repairs & Maintenance: 

Total Annual Expenses $2,300.00 $29,597.4 

Projected Net Operating Income: $260,202.6 CAP RATE: 6.9%

SIX STORY RENOVATED MIXED USE BUILDING FOR SALE

OPPORTUNITY ZONE 
85-87 PITT STREET NEW YORK, NEW YORK 

Location: West side of Pitt Street between Rivington and Stanton Streets 
Block: 344 
Lot: 68 
Lot Size: 50’ x 60’  

Building Size: 
Basement: 50’ x 47’irr = 2,000 sq. ft. 
Store: 50’ x 47’irr = 2,000 sq. ft. 
2nd Floor: 50’ x 47’irr = 2,000 sq. ft. 
3rd Floor: 50’ x 47’irr = 2,000 sq. ft. 

4th Floor: 
5th Floor: 
6th Floor: 
50’ x 47’irr = 2,000 sq. ft. 
50’ x 47’irr = 2,000 sq. ft. 
50’ x 47’irr = 2,000 sq. ft 

Stories: Six (6) Plus Full Basement Gross Square Feet: 12,000 (Approximately) 

Zoning: (FAR) R7A (4.0) 

Assessment: 

Real Estate Taxes:

 $1,566,450 (23/24) 

$195,837.60 

Description: A 50’ wide 21 unit six (6) story renovated mixed- use building. The building has three stores on the ground floor and twenty-one apartments above. Each floor has four apartments they are a mixture of one and two bedroom units. Each unit is individually metered, the tenants pay there own electric and gas for cooking. New Laundry room, intercom system, new gas boiler, new courtyard and common areas. The property is also in a opportunity zone which has big capital gains benefits. This is a prime investment opportunity because the units are free market with short term leases. Since the building is renovated an investor will save on capital improvements. The building is close to Delancey Street which has all the fine retail stores. 

Revenue: 

Unit Description Unit Type Revenue LXP Ground Floor: Store 1 Commercial $3,193.00 2/28/33 

Store 2-Grocery Store, Commercial, $6,200.00, 3/31/29 

Apt 1-2 Bedroom with yard, Rent Stabilized, $935.24, 8/31/24 

Second Floor: 

Apt 2 - One Bedroom, Rent Stabilized, $906.83, 10/31/24 

Apt 3 - One Bedroom, Free Market, $2,950, 4/30/25 

Apt 4 - Two Bedroom, Free Market, $3,800, 6/30/24 

Apt 5 - Two Bedroom, Free Market, $3,600, 3/31/25 

Third Floor: 

Apt 6 - One Bedroom Free Market, $2,900, 10/31/24 

Apt 7 - One Bedroom, Free Market, $3,200, 5/31/24 

Apt 8 - Two Bedroom, Free Market, $3,750, 6/30/24 

Apt 9 - One Bedroom, Free Market, $4,000, 6/30/24 

Fourth Floor: 

Apt 10 - Two Bedroom Free Market $2,950, 2/28/25 

Apt 11- One Bedroom, Free Market, $3000, 7/31/24 

Apt 12 - Two Bedroom, Free Market, $4300, 7/31/24 

Apt 13 - Two Bedroom, Free Market, $3,400, 4/30/24 

Fifth Floor: 

Apt 14 - One Bedroom, Free Market, $2750, 4/30/25 

Apt 15 - One Bedroom, Free Market, $3150, 4/30/25 

Apt 16 - Two Bedroom, Free Market, $3300, 4/30/25 

Apt 17 -Two Bedroom, Free Market. $3100, 4/30/25 

Sixth Floor: Apt 18 -One Bedroom, Free Market, $2750,4/30/25 

Apt 19 - One bedroom, Rent Stabilized, $1003.05.01/31/25 

Apt 20 - Two Bedroom, Free Market, $3300, 4/30/25 

Apt 21 - Two Bedroom, Free Market, $4100, 5/31/24 

Cell Tower $1,123.90 

Total Monthly Income: $73,662.02 

Annual Water Reimbursement: $3,856.00 

Total Annual Income: $887,800.24 

Note: Cell tower lease expires in 3/31/29 

Expenses: 

Real Estate Taxes: $195,837.60 

Water & Sewer: $23,000 

Insurance: $8,000 

Fuel gas: $12,000 

Electric: (common areas) $3,000 

Repairs & Maintenance: $5,000 

Super: $2,300 

Management 2%: $17,756 

Total Annual Expenses: $266,893.6 

Net Operating Income: $620,906.64 

ASKING PRICE: $10,999,000 CAP RATE: 6%