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:
5507 5TH AVENUE INCOME & EXPENSES
5507 5TH AVENUE
5507 5TH AVENUE
Block/Lot 832/6
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) $215,682
RE Taxes $26,458
RESIDENTIAL RENT
Unit Status Bedrooms Monthly Rent Annual Rent
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
COMMERCIAL RENT
$5,183.47 $62,201.64
Unit Tenant Monthly Rent Annual Rent LXP
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
COMMERCIAL TENANT REIMBURSEMENTS
Unit Base Year Tax Tax (20/21) % Over Base Reimbursement
Store A $- $ - 0.00% 0
Store B $20,193 (13/14) $26,457.71 25% $1,566.18
$1,566.18
Residential $62,201.64
Commercial $116,400.00
Total Revenue $178,601.64
FINANCIAL INFORMATION
Revenue:
ANNUALIZED IN PLACE
Residential: $62,202
Commercial $116,400
Base Rental Revenue $178,602
RE Tax Reimbursement $1,566
Gross Revenue $180,168
Vacancy Allowance $(9,008)
Effective Gross Revenue $171,159
Operating Expenses:
RE Taxes (20/21) $26,458
Insurance $5,255
Water and Sewer $6,120
Electric $436
Fuel $8,380
Payroll $10,800
Management Fee (3% of EGR) $5,135
Miscellaneous $1,800
Repairs and Maintenance $4,500
Total Operating Expenses $68,884
Net Operating Income (NOI): $102,276
24 | 4811, 5505 & 5507 Fifth Ave. Sunset Park, Brooklyn, NY
4811, 5505 & 5507 Fifth Ave. Sunset Park, Brooklyn, NY | 25