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DOW NTOW N GLEN COV E<br />
Mixed-Use Class B+ Office Building<br />
32,860 SF<br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 1
INVESTMENT SALES TEAM<br />
Greg Corbin<br />
President, Bankruptcy and Restructuring<br />
Direct: 212.359.9904<br />
Cell: 917.406.0406<br />
greg@rosewoodrg.com<br />
Michael Guttman<br />
Senior Vice President<br />
Direct: 212.359.9908<br />
Cell: 917.974.6436<br />
michael@rosewoodrg.com<br />
Aaron Kline<br />
Director<br />
Direct: 212.359.9930<br />
Cell: 914.482.4635<br />
aaron.kline@rosewoodrg.com<br />
Brandon Serota<br />
Senior Associate<br />
Direct: 212.359.9928<br />
Cell: 516.233.5293<br />
brandon@rosewoodrg.com<br />
Chaya Milworn<br />
Senior Associate<br />
Direct: 212.359.9936<br />
Cell: 917.804.7458<br />
chaya@rosewoodrg.com<br />
Elliot Haft<br />
Associate<br />
Direct: 212.359.9925<br />
Cell: 516.509.1943<br />
elliot@rosewoodrg.com<br />
Rosewood Realty Group<br />
38 East 29th Street, 5th Floor<br />
New York, <strong>NY</strong> 10016<br />
2 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 3
INVESTMENT SALES TEAM<br />
GARVIES POINT<br />
MASTER DEVELOPMENT<br />
PROPERTY OVERVIEW 8<br />
FINANCIAL OVERVIEW 10<br />
VILLAGE SQUARE<br />
PROPERTY PHOTOS 14<br />
BRIDGE ST<br />
FLOOR PLANS 22<br />
AVALON AT<br />
GLEN COVE<br />
GLEN ST<br />
AERIAL VIEW 24<br />
CONTACT INFO 28<br />
PRATT BLVD<br />
4 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
PULASKI’S ST<br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 5
6 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 7
PROPERTY OVERVIEW<br />
50 <strong>Glen</strong> St, <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
EXECUTIVE SUMMARY<br />
50 <strong>Glen</strong> Clove Road is a 3 story mixed use building consisting of 32,860 Rentable SF. The ground floor<br />
has one retail unit and floors 2 and 3 contain various office tenants. Located in <strong>Glen</strong> <strong>Cove</strong> on Long<br />
Island, this property is close to major highways as well as the LIRR. In addition, one block over is the<br />
Avalon at <strong>Glen</strong> <strong>Cove</strong> which has 111 luxurious apartments.<br />
PROPERTY FEATURES<br />
A (3) story mixed use building consisting of a total of 32,860 Rentable SF<br />
CITY<br />
<strong>Glen</strong> <strong>Cove</strong><br />
SECTION, BLOCK & LOT 21-2-13|<br />
LOT SIZE<br />
10,890 SF<br />
RETAIL SF<br />
3,420 SF<br />
OFFICE SF<br />
28,760 SF<br />
STORIES 3<br />
ACREAGE 0.252<br />
ZONING<br />
Central Commercial District (B-l)<br />
FAR 2.61<br />
R.E. TAXES $108,617<br />
Parcel Map<br />
Asking Price: $6,850,000 | 9% Cap Rate<br />
8 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 9
FINANCIAL OVERVIEW<br />
50 <strong>Glen</strong> St, <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
FINANCIALS<br />
RENT ROLLS - RETAIL<br />
REVENUE<br />
RETAIL INCOME $64,800<br />
RETAIL - YOUOFFICE $36,000<br />
OFFICE INCOME $424,800<br />
OFFICE - YOUOFFICE MASTER LEASE $377,100<br />
VACANCY & COLLECTION LOSS (5%) $(45,135.02)<br />
EFFECTIVE GROSS INCOME $857,565<br />
OPERATING EXPENSES<br />
TAXES $108,617<br />
WATER & SEWER $1,007<br />
GAS & PROPANE $11,705<br />
ELECTRIC $39,287<br />
GARBAGE $630<br />
INTERNET SERVICES $7,580<br />
INSURANCE $35,053<br />
REPAIRS & MAINTENANCE $20,016<br />
MANAGEMENT FEE $19,635<br />
TOTAL EXPENSES $243,528<br />
Expenses derived from T12 ending June 2020<br />
NET OPERATING INCOME $ 614,037<br />
UNIT TENANT SF MONTHLY RENT ANNUAL RENT<br />
GC RETAIL 1 Barclay Insurance Brokers 1,000 $3,000 $36,000<br />
GC RETAIL 2 Amy Banight LLC 1,600 $2,400 $28,800<br />
GC RETAIL 3 YouOffice 820 $3,000 $36,000<br />
TOTAL 3,420 $8,400 $100,800<br />
RENT ROLLS - OFFICE<br />
UNIT TENANT SF MONTHLY RENT ANNUAL RENT<br />
101 American Wealth Association LLC 468 $900 $10,800<br />
102 Paysafe Payment Processing Solutions, LLC 720 $1,950 $23,400<br />
103 Zaga Enterprise 600 $1,622 $19,469<br />
104 YouOffice 352 $1,150 $13,800<br />
105 YouOffice 320 $850 $10,200<br />
106 YouOffice 320 $850 $10,200<br />
107 YouOffice 480 $1,200 $14,400<br />
108 YouOffice 220 $600 $7,200<br />
109 Phorep LLC 280 $787 $9,449<br />
110 Phorep LLC 154 $487 $5,841<br />
111 20 West Media 280 $675 $8,099<br />
210 Romilda Grella Nutrition Wellness, PLLC 240 $757 $9,085<br />
212 YouOffice 180 $650 $7,800<br />
213 Joanna Britt Lcsw 274 $787 $9,449<br />
14A Artistic Affairs Inc 112 $350 $4,200<br />
14B SV Bridal Concepts 112 $350 $4,200<br />
215 B.K.R. Construction Corp 92 $750 $9,000<br />
216 Bedford Insurance Brokerage 282 $865 $10,383<br />
217 Bedford Insurance Brokerage 360 $1,190 $14,277<br />
10 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 11
FINANCIAL OVERVIEW<br />
50 <strong>Glen</strong> St, <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
UNIT TENANT SF MONTHLY RENT ANNUAL RENT<br />
218 The Investment Center 210 $742 $8,909<br />
219 Bedford Insurance Brokerage 210 $541 $6,490<br />
220 YouOffice 220 $750 $9,000<br />
221 YouOffice 332 $1,200 $14,400<br />
222 Marcomm Group 274 $175 $2,100<br />
223 Bedford Insurance Brokerage 220 $541 $6,490<br />
224 YouOffice 274 $900 $10,800<br />
225 Stand Out College Prep LLC. 220 $600 $7,200<br />
226 YouOffice 220 $650 $7,800<br />
227 YouOffice 304 $750 $9,000<br />
228 YouOffice 274 $850 $10,200<br />
229 YouOffice 282 $850 $10,200<br />
230 YouOffice 210 $1,300 $15,600<br />
231 YouOffice 332 $1,300 $15,600<br />
232 YouOffice 210 $900 $10,800<br />
233 YouOffice 224 $750 $9,000<br />
234 Soundview Capital Group LLC. 360 $900 $10,800<br />
235 YouOffice 274 $900 $10,800<br />
236 Lois Raviv, LCSW, MA 274 $1,040 $12,480<br />
237 YouOffice 274 $850 $10,200<br />
238 Joshua Goldshlager Esq. 600 $1,731 $20,767<br />
239 YouOffice 220 $725 $8,700<br />
240 YouOffice 223 $600 $7,200<br />
241 Therapy: Healing & Wellness 223 $624 $7,488<br />
242 2300 Linden Realty Corp 233 $649 $7,788<br />
243 YouOffice 233 $600 $7,200<br />
301 Edward Booth Painting & Paperhanging Inc, 240 $625 $7,500<br />
302 Coretronix Technologies 208 $730 $8,760<br />
UNIT TENANT SF MONTHLY RENT ANNUAL RENT<br />
303 YouOffice 224 $800 $9,600<br />
304 YouOffice 335 $900 $10,800<br />
305 Uni-Dent 282 $1,082 $12,979<br />
306 YouOffice 360 $1,200 $14,400<br />
307 YouOffice 210 $750 $9,000<br />
308 PLC IT Solutions 210 $760 $9,125<br />
309 YouOffice 274 $850 $10,200<br />
310 YouOffice 220 $750 $9,000<br />
311 YouOttice 332 $1,000 $12,000<br />
312 T.D. FabrizioTimepieces, LLC. 223 $675 $8,099<br />
313 YouOffice 274 $850 $10,200<br />
314 YouOffice 220 $750 $9,000<br />
315 Kellam Integrations 220 $759 $9,111<br />
316 YouOffice 304 $900 $10,800<br />
317 Webme 360 LLC 274 $700 $8,400<br />
318 Gold Coast Exquisite Beauty 282 $936 $11,232<br />
319 Richard Gordon Esq 2000 $5,356 $64,272<br />
320 YouOffice 220 $750 $9,000<br />
321 YouOffice 233 $600 $7,200<br />
322 YouOffice 240 $850 $10,200<br />
323 YouOffice 220 $700 $8,400<br />
324 Kore Infrastructure, LLC. 240 $956 $11,469<br />
325 Kore Infrastructure, LLC. 233 $675 $8,099<br />
326 The Li Foundation Inc 233 $624 $7,488<br />
327 YouOffice 223 $600 $7,200<br />
LLN Zaga Enterprise 7,000 $2,434 $29,203<br />
Storage 4 Vert. Holdings 450 $75 $900<br />
Total 28,760 $66,825 $801,900<br />
12 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 13
14 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 15
PROPERTY PHOTOS<br />
50 <strong>Glen</strong> St, <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
16 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 17
PROPERTY PHOTOS<br />
50 <strong>Glen</strong> St, <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
18 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 19
PROPERTY PHOTOS<br />
50 <strong>Glen</strong> St, <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
20 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 21
FLOOR PLANS<br />
50 <strong>Glen</strong> St, <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
3RD FLOOR<br />
2ND FLOOR<br />
311<br />
332 SF<br />
312<br />
220 SF<br />
314<br />
220 SF<br />
314<br />
220 SF<br />
316<br />
304 SF<br />
222<br />
332 SF<br />
223<br />
220 SF<br />
225<br />
220 SF<br />
226<br />
220 SF<br />
227<br />
304 SF<br />
310<br />
220 SF<br />
308<br />
210 SF<br />
309<br />
274 SF<br />
313<br />
274 SF<br />
317<br />
274 SF<br />
318<br />
282 SF<br />
220<br />
320 SF<br />
219<br />
210 SF<br />
221<br />
274 SF<br />
224<br />
274 SF<br />
228<br />
274 SF<br />
229<br />
282 SF<br />
307<br />
210 SF<br />
304<br />
306 SF<br />
Conference Room<br />
218<br />
210 SF<br />
215<br />
274 SF<br />
213<br />
274 SF<br />
211<br />
274 SF<br />
306<br />
360 SF 305<br />
282 SF<br />
303<br />
224 SF<br />
302<br />
208 SF<br />
301<br />
240 SF<br />
217<br />
360 SF 216<br />
282 SF<br />
214<br />
224 SF<br />
212<br />
208 SF<br />
210<br />
240 SF<br />
22 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 23
AERIAL VIEW LOOKING WEST<br />
50 <strong>Glen</strong> St, <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
LONG ISLAND SOUND<br />
GARVIES POINT<br />
MASTER DEVELOPMENT<br />
GLEN COVE AVE<br />
AVALON AT<br />
GLEN COVE<br />
BRIDGE ST<br />
VILLAGE SQUARE<br />
PRATT BLVD<br />
GLEN ST<br />
24 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 25
26 | 50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong><br />
50 <strong>Glen</strong> St. <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> | 27
FOR MORE INFORMATION OR TO SET UP A VIEWING, PLEASE CONTACT:<br />
Greg Corbin<br />
President, Bankruptcy<br />
and Restructuring<br />
Direct: 212.359.9904<br />
Cell: 917.406.0406<br />
greg@rosewoodrg.com<br />
Michael Guttman<br />
Senior Vice President<br />
Direct: 212.359.9908<br />
Cell: 917.974.6436<br />
michael@rosewoodrg.com<br />
Aaron Kline<br />
Director<br />
Direct: 212.359.9930<br />
Cell: 914.482.4635<br />
aaron.kline@rosewoodrg.com<br />
Brandon Serota<br />
Senior Associate<br />
Direct: 212.359.9928<br />
Cell: 516.233.5293<br />
brandon@rosewoodrg.com<br />
Chaya Milworn<br />
Senior Associate<br />
Direct: 212.359.9936<br />
Cell: 917.804.7458<br />
chaya@rosewoodrg.com<br />
Elliot Haft<br />
Associate<br />
Direct: 212.359.9925<br />
Cell: 516.509.1943<br />
elliot@rosewoodrg.com<br />
Disclaimer: This is a confidential brochure (the “Brochure”) intended solely for your limited use and benefit in determining whether you desire to<br />
express any further interest in the proposed sale of 50 <strong>Glen</strong> Street, <strong>Glen</strong> <strong>Cove</strong>, <strong>NY</strong> (the “Property”). The information contained herein, including<br />
any pro forma income and expense information (collectively, the “Information”) is based upon assumption and projections and has been compiled<br />
or modeled from sources we consider reliable and is based on the best available information at the time the brochure was issued. However, the<br />
Information is subject to change and is not guaranteed as to completeness or accuracy. While we have no reason to believe that the Information set<br />
forth in this brochure, underwriting, cash flows, valuation and other financial information (or any Information that is subsequently provided or made<br />
available to you) contains any material inaccuracies, no representations or warranties, express or implied, are made with respect to the accuracy or<br />
completeness of the Information. Independent estimates of pro forma income and expenses should be developed before any decision is made on<br />
whether to invest in the property. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outline some of<br />
the provisions contained therein and are qualified in their entirety by the actual document to which they relate. You understand that the Information<br />
is confidential and is furnished solely for the purpose of your review in connection with a potential investment in the property. You further understand<br />
that the Information is not to be used for any other purpose or made available to any other person without the express written consent of Rosewood<br />
Realty 28 | 50 Group. <strong>Glen</strong> St. This <strong>Glen</strong> offering <strong>Cove</strong>, <strong>NY</strong> is subject to prior placement and withdrawal, cancellation or modification without notice.
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