Bankruptcy Sale_4811 5505 5507 Fifth Ave. Sunset Park_Exclusive Offering Memorandum

FINANCIAL OVERVIEW
4811, 5505, & 5507 Fifth Ave. Sunset Park, Brooklyn, NY
RENT ROLL:
5505 5TH AVENUE INCOME & EXPENSES
5505 5TH AVENUE
5505 5TH AVENUE
Block/Lot 832/7
Size 26.67' x 100'
Built 26.67' x 60'
Building SF 6,212
Zoning
C4-3A
FAR 3
Tax Class
2B
Year Built 1931
Assessment (20/21) $222,346
RE Taxes $27,275
RESIDENTIAL RENT
Unit Status Bedrooms Monthly Rent Annual Rent
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
COMMERCIAL RENT
$4,987.16 $59,845.92
Unit Tenant Monthly Rent Annual Rent LXP
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
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 $59,845.92
Commercial $120,000.00
Total Revenue $179,845.92
FINANCIAL INFORMATION
Revenue:
ANNUALIZED IN PLACE
Residential: $59,846
Commercial $120,000
Base Rental Revenue $179,846
RE Tax Reimbursement $-
Gross Revenue $179,846
Vacancy Allowance $(8,992)
Effective Gross Revenue $170,854
Operating Expenses:
RE Taxes (20/21) $27,275
Insurance $5,255
Water and Sewer $6,120
Electric $436
Fuel $8,380
Payroll $10,800
Management Fee (3% of EGR) $5,126
Miscellaneous $1,800
Repairs and Maintenance $4,500
Total Operating Expenses $69,692
Net Operating Income (NOI): $101,162
22 | 4811, 5505 & 5507 Fifth Ave. Sunset Park, Brooklyn, NY
4811, 5505 & 5507 Fifth Ave. Sunset Park, Brooklyn, NY | 23