Bankruptcy Sale_4811 5505 5507 Fifth Ave. Sunset Park_Exclusive Offering Memorandum

BANKRUPTCY SALE 

3 BUILDING PORTFOLIO 

Prime 5th Avenue 

Sunset Park, Brooklyn 

4811, 5505 & 5507 Fifth Ave. Sunset Park, Brooklyn, NY | 1

INVESTMENT SALES TEAM 

Greg Corbin 

President, Bankruptcy and Restructuring 

Direct: 212.359.9904 

Cell: 917.406.0406 

greg@rosewoodrg.com 

Aaron Kline 

Director 

Direct: 212.359.9930 

Cell: 914.482.4635 

aaron.kline@rosewoodrg.com 

Shaun Rose 

Director 

Direct: 212.359.9926 

Cell: 917.523.7656 

shaun@rosewoodrg.com 

Brandon Serota 

Senior Associate 

Direct: 212.359.9928 

Cell: 516.233.5293 

brandon@rosewoodrg.com 

Chaya Milworn 

Senior Associate 

Direct: 212.359.9936 

Cell: 917.804.7458 

chaya@rosewoodrg.com 

2 | 4811, 5505 & 5507 Fifth Ave. Sunset Park, Brooklyn, NY 

Rosewood Realty Group 

38 East 29th Street, 5th Fl. 

New York, NY 10016

INVESTMENT SALES TEAM 

PORTFOLIO OVERVIEW 7 

FINANCIAL OVERVIEW 19 

PROPERTY PHOTOS 29 

LOCATION OVERVIEW 67 

CONTACT INFO 72 



PORTFOLIO OVERVIEW 



4811 FIFTH AVE 



5505 & 5507 FIFTH AVE 




4811, 5505, & 5507 Fifth Ave. Sunset Park, Brooklyn, NY 

EXECUTIVE SUMMARY 

PORTFOLIO FEATURES 

4811 5th Avenue is a 6,076± square foot building on a 2,200± square foot lot. It stands 

4 stories, plus a selling basement for the retail use. This mixed-use asset consists of 6 residential 

units and two retail units at the base of the building. The residential units are comprised of two 

bedrooms and are all rent stabilized. 

5505 5th Avenue is a 6,212± square foot building on a 2,667± square foot lot. It stands 4 

stories, plus a selling basement for the retail use. This mixed-use asset consists of 6 residential 



LOCATION 

Sunset Park 

STORIES 

4 

RESIDENTIAL UNITS 

18 

COMMERCIAL UNITS 

6 Total 

5507 5th Avenue is a 6,212± square foot building on a 2,667± square foot lot. It stands 

4 stories, plus a selling basement for the retail use. This mixed-use asset consists of 6 residential 



ZONING 

C4-3A 

BUILDING SQ FT. 

18,500 

RE TAXES 

~$60,000 

4811 5th Ave: $6,007 (Property tax bill for 7/1/2020 to 6/30/2021) 



Tax map 

48th St 

55th St 

Fifth Ave 

Fifth Ave 

49th St 

56th St 





RETAIL MAP 

TRANSPORTATION MAP 





ZONING MAP 

AREA MAP 



FINANCIAL OVERVIEW 





RENT ROLL: 

4811 5TH AVENUE 

Block/Lot 775/4 

Size 27.5' x 80' 

Built 27.5' x 58' 

Building SF 6,076 

Zoning 

C4-3A 

FAR 3 

Tax Class 

2B 

Year Built 1924 

Assessment (20/21) $48,972.00 

RE Taxes $6,007 

RESIDENTIAL RENT 

Unit Status Bedrooms Monthly Rent Annual Rent 

2L RS 2 $850.36 $10,204.32 

2R RS 2 $882.69 $10,592.28 

3L RS 2 $880.00 $10,560.00 

3R RS 2 $308.00 $3,696.00 

4L RS 2 $919.27 $11,031.24 

4R RS 2 $333.54 $4,002.48 

COMMERCIAL RENT 

4811 5TH AVENUE INCOME & EXPENSES 


$4,173.86 $50,086.32 

Unit Tenant Monthly Rent Annual Rent LXP 

Store A Vacant $6,750.00 $81,000.00 Projected 

Store B Mexican Bakery $6,750.00 $81,000.00 1/31/21 

$13,500.00 $162,000.00 

COMMERCIAL TENANT REIMBURSEMENTS 

Unit Base Year Tax Tax (20/21) % Over Base Reimbursement 

Store A N/A $ - 0.00% $ - 

Store B N/A $ - 0.00% $ - 

$ - 

Residential $50,086.32 

Commercial $162,000.00 

Total Revenue $212,086.32 

FINANCIAL INFORMATION 

Revenue: 

ANNUALIZED IN PLACE 

Residential: $50,086 

Commercial $162,000 

Base Rental Revenue $212,086 

RE Tax Reimbursement - 

Gross Revenue $212,086 

Vacancy Allowance $(10,604) 

Effective Gross Revenue $201,482 

Operating Expenses: 

RE Taxes (20/21) $6,007 

Insurance $8,632 

Water and Sewer $6,120 

Electric $600 

Fuel $14,300 

Payroll $10,800 

Management Fee (3% of EGR) $6,044 

Miscellaneous $1,800 

Repairs and Maintenance $4,500 

Total Operating Expenses $58,804 

Net Operating Income (NOI): $142,678 





RENT ROLL: 





Size 26.67' x 100' 

Built 26.67' x 60' 


Zoning 

C4-3A 

FAR 3 

Tax Class 

2B 


Assessment (20/21) $222,346 




2L RS 2 $649.03 $7,788.36 

2R RS 2 $787.00 $9,444.00 

3L RS 2 $794.91 $9,538.92 

3R RS 2 $629.31 $7,551.72 

4L RS 2 $1,278.72 $15,344.64 

4R RS 2 $848.19 $10,178.28 


$4,987.16 $59,845.92 


Store A Salon $4,500.00 $54,000.00 12/31/19 

Store B Computer Store $5,500.00 $66,000.00 7/31/22 

$10,000.00 $120,000.00 



Store A N/A $ - 0.00% $ - 

Store B N/A $ - 0.00% $ - 

$ - 





Revenue: 





RE Tax Reimbursement $- 





RE Taxes (20/21) $27,275 



Electric $436 

Fuel $8,380 











RENT ROLL: 





Size 26.67' x 100' 

Built 26.67' x 60' 


Zoning 

C4-3A 

FAR 3 

Tax Class 

2B 


Assessment (20/21) $215,682 




2L RS 2 $988.15 $11,857.80 

2R RS 2 $868.89 $10,426.68 

3L RS 2 $1,160.69 $13,928.28 

3R RS 2 $1,115.28 $13,383.36 

4L RS 2 $350.00 $4,200.00 

4R RS 2 $700.46 $8,405.52 


$5,183.47 $62,201.64 


Store A Jewelry Store $4,700.00 $56,400.00 MTM 

Store B Pizza Store $5,000.00 $60,000.00 12/31/18 

$9,700.00 $116,400.00 



Store A $- $ - 0.00% 0 

Store B $20,193 (13/14) $26,457.71 25% $1,566.18 

$1,566.18 





Revenue: 





RE Tax Reimbursement $1,566 





RE Taxes (20/21) $26,458 



Electric $436 

Fuel $8,380 











PORTFOLIO INCOME & EXPENSES 



Revenue: 




RE Tax Reimbursement $1,566 





RE Taxes (20/21) $59,740 



Electric $1,472 

Fuel $31,060 









PROPERTY PHOTOS 

PROPERTY 

PHOTOS 



4811 5th Avenue 





4811 FIFTH AVE 













5505 & 5507 FIFTH AVE 



















LOCATION OVERVIEW 



LOCATION OVERVIEW 


SUNSET PARK, BROOKLYN 

Sunset Park is one of the last remaining neighborhoods in New York City that has a combination of subway 

access, affordable rents and architecturally impressive space. 

Sunset Park provides unparalleled convenient access to major markets such as Manhattan and Downtown 

Brooklyn. Tenants have local R line access just a 5-minute walk from the properties at the 45th 

Street Subway Station and the 53rd Street Subway Station. Alternatively, 59th Street Subway Station has 

the R and the N express line which is only two stops away from the Atlantic Avenue-Barclays Center hub, 

which provides access to the D, R, B, Q, 2, 3, 4, 5 lines and the LIRR. 

Neighborhood Amenities 

Industry City: This 36-acre, six million SF waterfront development is home to designers, manufacturers, 

eateries, and the Brooklyn Nets training facility. Industry City has also become a one-stop shop for 

discounted high-end furniture, with brands such as Design Within Reach, RH (Restoration Hardware), 

ABC Home & Carpet, and Mitchell Gold + Bob Williams all opening outlet stores at the complex in 

recent years. 





FOR MORE INFORMATION OR TO SET UP A VIEWING, PLEASE CONTACT 

THE CORBIN GROUP AT ROSEWOOD REALTY: 

Greg Corbin 

President, Bankruptcy 

and Restructuring 

Direct: 212.359.9904 

Cell: 917.406.0406 

greg@rosewoodrg.com 

Aaron Kline 

Senior Director 

Direct: 212.359.9930 

Cell: 914.482.4635 

aaron.kline@rosewoodrg.com 

Shaun Rose 

Director 

Direct: 212.359.9926 

Cell: 917.523.7656 

shaun@rosewoodrg.com 

Brandon Serota 

Director 

Direct: 212.359.9928 

Cell: 516.233.5293 

brandon@rosewoodrg.com 

Chaya Milworn 

Director 

Direct: 212.359.9936 

Cell: 917.804.7458 

chaya@rosewoodrg.com 

Disclaimer: This is a confidential brochure (the “Brochure”) intended solely for your limited use and benefit in determining whether you desire to 

express any further interest in the proposed sale of 4811, 5505 & 5507 Fifth Avenue (the “Properties”). The information contained herein, including 

any pro forma income and expense information (collectively, the “Information”) is based upon assumption and projections and has been compiled 

or modeled from sources we consider reliable and is based on the best available information at the time the brochure was issued. However, the 

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 

forth in this brochure, underwriting, cash flows, valuation and other financial information (or any Information that is subsequently provided or made 

available to you) contains any material inaccuracies, no representations or warranties, express or implied, are made with respect to the accuracy or 

completeness of the Information. Independent estimates of pro forma income and expenses should be developed before any decision is made on 

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 

the provisions contained therein and are qualified in their entirety by the actual document to which they relate. You understand that the Information 

is confidential and is furnished solely for the purpose of your review in connection with a potential investment in the property. You further understand 

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 

Realty 72 | 4811, Group. 5505 This & 5507 offering Fifth is subject Ave. Sunset to prior Park, placement Brooklyn, and NY withdrawal, cancellation or modification without notice.

Bankruptcy Sale_4811 5505 5507 Fifth Ave. Sunset Park_Exclusive Offering Memorandum

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