Offering Memorandum_Foreclosure Sale_Bushwick Stalled Construction Portfolio_2.2021_

FORECLOSURE SALE
Bushwick Stalled Construction
3 Building Portfolio
Rosewood Realty Group • Offering Memorandum | 1

INVESTMENT SALES TEAM
Greg Corbin
President, Bankruptcy and Restructuring
Direct: 212.359.9904
Cell: 917.406.0406
greg@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
William Tavoulareas
Analyst
Direct: 212.359.9923
Cell: 561.212-5555
william@rosewoodrg.com
Rosewood Realty Group
38 East 29th Street, 5th Floor
New York, NY 10016
2 | Rosewood Realty Group • Offering Memorandum 4811, 5505 & 550 7 Fifth Ave. Sunset Park, Br ooklyn,
NY | 3

INVESTMENT SALES TEAM
BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
BUSHWICK
BROOKLYN
1010 BUSHWICK 6
435 CENTRAL AVENUE 16
1351 DEKALB AVENUE 28
COMPARABLES 38
LOCATION OVERVIEW 42
CONTACT INFO 48
4 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 5

1010 BUSHWICK
AVENUE
6 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 7

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY OVERVIEW
1010 Bushwick Ave Bushwick, Brooklyn
EXECUTIVE SUMMARY
PROPERTY FEATURES
1010 Bushwick Avenue is a partially built multi-family development centrally located in the
Bushwick Submarket of Brooklyn, NY. The approved plans are for 19 residential apartments
including 7 studios, 9 one bedrooms, and 3 two bedrooms. Additionally, there will be 1
community facility space and 10 covered parking spaces. The gross square footage of the building
will be 20,191 SF. This development has the flexibility to be either high-end rentals or a condominium
building. With significant work still required to finish the building, this project provides
an excellent opportunity for a developer to add substantial value. The current developers are
projecting an additional $3,500,000 to complete the project.
LOCATION
Bushwick
STORIES
7
RESIDENTIAL UNITS
19
BUILDING SQ FT.
20,191
In the last 5 years, Bushwick has quickly become a luxurious but still affordable alternative
to Williamsburg and Greenpoint. According to Bloomberg, in 2018, Bushwick had the largest
percentage increase on the list of most expensive neighborhoods in all of New York City. More
and more affluent young people are choosing Bushwick for its access to mass transit as well as
its trendy atmosphere.
LOT SQ. FT.
36’ x 150’
ZONING
R6
PARKING SPACES
10
ASSESSED VALUE
$653,850
PACKAGE PRICE: $16,250,000
FAR
2.43
TAX CLASS
2
BLOCK/LOT
03321/0028
RE TAXES
$64,842
Tax map
8 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 9

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
FINANCIAL OVERVIEW
1010 Bushwick Ave Bushwick, Brooklyn
RENTAL PRO FORMA
RESIDENTIAL RENT
Unit No. Br/Ba Approx SF of
Units
Approx SF of
Balcony /Terrace
Total SF Monthly rent Annual rent
Parking n/a/n/a 3631 0 3631 *10 spaces $2,500 $30,000
CF 1 n/a/2 3506 0 3506 $8,764 $105,165
2A 1/1 605 0 605 $2,167 $25,999
2B 0/1 692 48 740 $2,815 $33,784
2C 2/2 989 2286 3274 $5,368 $64,420
3A 1/1 628 0 628 $2,248 $26,975
3B 0/1 529 63 592 $2,126 $25,517
3C 0/1 522 84 606 $2,120 $25,435
3D 1/1 628 0 628 $2,248 $26,975
4A 1/1 628 0 628 $2,248 $26,975
4B 0/1 529 63 592 $2,126 $25,517
4D 1/1 596 52 648 $2,186 $26,235
4C 0/1 522 52 573 $2,087 $25,043
5A 1/1 628 0 628 $2,248 $26,975
5B 0/1 529 63 592 $2,139 $25,668
5D 1/1 596 52 648 $2,197 $26,359
5C 0/1 522 52 573 $2,097 $25,167
6A 1/1 628 0 628 $2,248 $26,975
6B 1/1 681 68 749 $2,519 $30,225
7A 2/2 1091 220 1311 $4,193 $50,315
7B 2/2 975 91 1066 $4,310 $51,724
19655 3191 22845
GROSS RENT ROLL: $709,945
SALES PRO FORMA
1010 BUSHWICK CONDO
Unit
No.
Br/Ba
Approx
SF of
Units
Aprpox
SF of
Balcony /
Terrace
Total
SF
Offering
Prices
% of
Common
Interest
Projected
Monthly
Common
Charges
Projected
Monthly
Real
Estate
Taxes
Projected
Annual
Real
Estate
Taxes
Projected
Monthly
Carrying
Charges
Parking n/a/n/a 3631 0 3631 $350,000 2.65% $132 $164 $1,969 $296
CF 1 n/a/2 3506 0 3506 $1,402,200 10.60% $530 $657 $7,889 $1,188
2A 1/1 605 0 605 $514,420 3.89% $194 $241 $2,894 $436
2B 0/1 692 48 740 $637,020 4.82% $241 $299 $3,584 $540
2C 2/2 989 2286 3274 $1,488,038 11.25% $563 $698 $8,372 $1,260
3A 1/1 628 0 628 $533,715 4.04% $202 $250 $3,003 $452
3B 0/1 529 63 592 $467,557 3.54% $177 $219 $2,630 $396
3C 0/1 522 84 606 $494,970 3.74% $187 $232 $2,785 $419
3D 1/1 628 0 628 $533,715 4.04% $202 $250 $3,003 $452
4A 1/1 628 0 628 $533,715 4.04% $202 $250 $3,003 $452
4B 0/1 529 63 592 $495,060 3.74% $187 $232 $2,785 $419
4D 1/1 596 52 648 $521,447 3.94% $197 $244 $2,934 $442
4C 0/1 522 52 573 $458,207 3.46% $173 $215 $2,578 $388
5A 1/1 628 0 628 $533,715 4.04% $202 $250 $3,003 $452
5B 0/1 529 63 592 $495,060 3.74% $187 $232 $2,785 $419
5D 1/1 596 52 648 $521,447 3.94% $197 $244 $2,934 $442
5C 0/1 522 52 573 $485,160 3.67% $183 $227 $2,729 $411
6A 1/1 628 0 628 $533,715 4.04% $202 $250 $3,003 $452
6B 1/1 681 68 749 $597,918 4.52% $226 $280 $3,364 $506
7A 2/2 1091 220 1311 $873,500 6.61% $330 $410 $4,914 $740
7B 2/2 975 91 1066 $753,925 5.70% $285 $353 $4,242 $639
19,655 3,191 22,845 $13,224,503 100.00% $5,000 $6,200 $74,400 $11,200
1010 BUSHWICK AVE
Studios 1Bd's 2Bd's
Unit 7 9 3
Average SF's 549 643 1018
Average Rents $2,216 $2,256 $4,027
Annual $186,129 $243,691 $144,960
Average PPSF $48.43 $42.11 $47.45
Apartments $574,780
Parking $30,000
CF $105,165
Gross Rent Roll $709,945
Real Estate tax (year): $80,000.00
Maintenance (year) $50,000.00
Electricity for common spaces (year): $5,000.00
Water (year): $5,000.00
Insurance (year): $15,000.00
Management (year), 3% of gross rent roll: $21,298
Vacancy Loss $21,298
Expenses $205,597
Net Income $504,349
1010 BUSHWICK AVE
Studios 1Bd's 2Bd's
Unit 7 9 3
Average SF's 549 643 1,018
Sellouts $3,533,033 $4,823,807 $3,115,463
Average PPSF $919 $833 $1,020
Condo Sellouts $11,472,303
CF $1,402,200
Parking $350,000
$13,224,503
Ownership will consider
Sale and/or Refinance,
Recapitalization, or
Joint Venture on the
properties either
individually or as a package
ASKING PRICE
$5,650,000
10 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 11

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY PHOTOS
1010 Bushwick Ave Bushwick, Brooklyn
12 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 13

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY PHOTOS
1010 Bushwick Ave Bushwick, Brooklyn
Rendering
14 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 15

435 CENTRAL
AVENUE
16 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 17

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY OVERVIEW
435 Central Ave Bushwick, Brooklyn
EXECUTIVE SUMMARY
PROPERTY FEATURES
435 Central Avenue is a near completed multi-family development centrally located in the Bushwick
Submarket of Brooklyn, NY. The approved plans are for 17 residential apartments including
6 studios, 1 one bedroom, and 10 two bedrooms. Additionally, the plans include 9 covered
parking spaces. The gross square footage of the building will be 11,798 SF. This development is
roughly 90% completed and will require roughly $650,000 to finish.
In the last 5 years, Bushwick has quickly become a luxurious but still affordable alternative
to Williamsburg and Greenpoint. According to Bloomberg, in 2018, Bushwick had the largest
percentage increase on the list of most expensive neighborhoods in all of New York City. More
and more affluent young people are choosing Bushwick for its access to mass transit as well as
its trendy atmosphere.
LOCATION
Bushwick
STORIES
5
RESIDENTIAL UNITS
17
BUILDING SQ FT.
11,798
Tax map
LOT SQ. FT.
60’ x 90’
(5400 SF)
PARKING
SPACES
9
ASSESSED
VALUE
$571,500
BLOCK/LOT
03369/
0006
REAL ESTATE
TAXES
$69,363
Tax map
18 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 19

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
FINANCIAL OVERVIEW
435 Central Ave Bushwick, Brooklyn
RENTAL PRO FORMA
RESIDENTIAL RENT
Unit No. Br/Ba Approx SF of Approx SF of Total SF Monthly rent Annual rent
Units Balcony /Terrace
Parking n/a/n/a 4200 0 4200 *9 spaces $2,250 $27,000
1A 2/2 824 0 824 $2,950 $35,395
1B 2/1 712 1050 1762 $3,074 $36,894
1C 2/1 676 750 1426 $2,795 $33,545
2A 0/1 374 7 381 $1,465 $17,583
2B 0/1 456 7 463 $1,786 $21,434
2C 2/1 713 0 713 $2,553 $30,631
2D 2/1 723 0 723 $2,590 $31,075
3A 0/1 374 45 419 $1,503 $18,040
3B 0/1 456 45 501 $1,824 $21,894
3C 2/1 676 45 721 $2,465 $29,586
3D 2/1 713 45 758 $2,598 $31,171
4A 0/1 374 45 419 $1,503 $18,040
4B 0/1 456 45 501 $1,824 $21,894
4C 2/1 676 45 721 $2,465 $29,586
4D 2/1 713 45 758 $2,598 $31,171
5A 2/1 864 646 1509 $3,948 $47,381
5B 1/1 534 163 698 $2,136 $25,633
14516 2982 17498
Gross rent roll: $507,952
SALES PRO FORMA
435 CENTRAL AVE
Unit
No.
Br/Ba
Approx
SF of
Units
Aprpox
SF of
Balcony
/Terrace
Total
SF
Offering
Prices
% of
Common
Interest
Projected
Monthly
Common
Charges
Projected
Monthly
Real
Estate
Taxes
Projected
Annual
Real
Estate
Taxes
Projected
Monthly
Carrying
Charges
Parking n/a/n/a 4,200 0 4,200 $315,000 3.40% $170 $178 $2,141 $348
1A 2/2 824 0 824 $617,925 6.67% $333 $350 $4,200 $683
1B 2/1 712 1,050 1,762 $796,605 8.59% $430 $451 $5,415 $881
1C 2/1 676 750 1,426 $694,568 7.49% $375 $393 $4,721 $768
2A 0/1 374 7 381 $338,600 3.65% $183 $192 $2,301 $374
2B 0/1 456 7 463 $412,652 4.45% $223 $234 $2,805 $456
2C 2/1 713 0 713 $534,765 5.77% $288 $303 $3,635 $591
2D 2/1 723 0 723 $542,505 5.85% $293 $307 $3,687 $600
3A 0/1 374 45 419 $350,046 3.78% $189 $198 $2,379 $387
3B 0/1 456 45 501 $424,152 4.58% $229 $240 $2,883 $469
3C 2/1 676 45 721 $518,333 5.59% $280 $294 $3,523 $573
3D 2/1 713 45 758 $546,015 5.89% $295 $309 $3,711 $604
4A 0/1 374 45 419 $350,046 3.78% $189 $198 $2,379 $387
4B 0/1 456 45 501 $424,152 4.58% $229 $240 $2,883 $469
4C 2/1 676 45 721 $518,333 5.59% $280 $294 $3,523 $573
4D 2/1 713 45 758 $546,015 5.89% $295 $309 $3,711 $604
5A 2/1 864 646 1509 $809,130 8.73% $436 $458 $5,500 $895
5B 1/1 534 163 698 $529,943 5.72% $286 $300 $3,602 $586
14,516 2982 17498 $9,268,783 100.00% $5,000 $5,250 $63,000 $10,250
435 CENTRAL AVE
Studios 1Bd's 2Bd's
Unit 6 1 10
Average SF's 407 534 729
Average Rents $1,651 $2,136 $2,804
Annual $118,886 $25,633 $336,434
Average PPSF $48.70 $47.96 $46.15
Real Estate tax (year): $60,000
Maintenance (year) $35,000
Electricity for common spaces (year): $3,500
Water (year): $3,500
Insurance (year): $12,500
Management (year), 3% of gross rent
roll:
$15,239
435 CENTRAL AVE
Studios 1Bd's 2Bd's
Unit 6 1 10
Average SF's 407 534 729
Sales $2,299,648 $529,943 $6,124,193
Ownership will consider
Sale and/or Refinance,
Recapitalization, or
Joint Venture on the
properties either
individually or as a package
Apartments $480,952
Parking $27,000
Gross Rent Roll $507,952
Vacancy Loss $15,239
Expenses $144,977
Net Income $362,975
Total Sellouts $8,953,783
Parking $315,000
$9,268,783
ASKING PRICE
$6,125,000
20 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 21

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY PHOTOS
435 Central Ave Bushwick, Brooklyn
22 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 23

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY PHOTOS
435 Central Ave Bushwick, Brooklyn
24 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 25

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY PHOTOS
435 Central Ave Bushwick, Brooklyn
Rendering
Rendering
Rendering
26 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 27

1351 DEKALB
AVENUE
28 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 29

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY OVERVIEW
1351 DeKalb Ave Bushwick, Brooklyn
EXECUTIVE SUMMARY
PROPERTY FEATURES
1351 Dekalb is a partially built multi-family development centrally located in the Bushwick
Submarket of Brooklyn, NY. The approved plans are for 27 apartments including 6 studios, 12
one bedrooms, and 9 two bedrooms. Additionally, there will be 1 community facility space and
14 covered parking spaces. The gross square footage of the building will be 35,264 SF.
This development has the flexibility to be either high-end rentals or a condominium building.
With significant work still required to finish the building, this project provides an excellent
opportunity for a developer to add substantial value. The current developers are projecting an
additional $5,200,000 to complete the project.
LOCATION
Bushwick
STORIES
5
RESIDENTIAL UNITS
27
BUILDING SQ FT.
35,264 (Planned)
In the last 5 years, Bushwick has quickly become a luxurious but still affordable alternative
to Williamsburg and Greenpoint. According to Bloomberg, in 2018, Bushwick had the largest
percentage increase on the list of most expensive neighborhoods in all of New York City. More
and more affluent young people are choosing Bushwick for its access to mass transit as well as
its trendy atmosphere.
LOT SQ. FT.
75’ x 114’
(Irregular)
PARKING
SPACES
14
ASSESSED
VALUE
$92,700
BLOCK/LOT
03234/
0052
REAL ESTATE
TAXES
$3,605
Tax map
30 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 31

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
FINANCIAL OVERVIEW
1351 DeKalb Ave Bushwick, Brooklyn
RENTAL PRO FORMA
RESIDENTIAL RENT
Unit No. Br/Ba Approx SF of
Units
Approx SF of
Balcony /Terrace
Total SF Monthly rent Annual rent
Parking n/a/n/a 4969 0 4969 *14 spaces $3,500 $42,000
CF 1 n/a/3 4547 0 4547 $11,366 $136,395
1A 1/1 638 0 638 $2,285 $27,417
2A 1/1 494 646 1140 $2,414 $28,966
2B 1/1 551 204 755 $2,175 $26,104
2C 2/2 819 0 819 $2,867 $34,398
2D 1/1 584 0 584 $2,090 $25,076
2E 0/1 416 0 416 $1,621 $19,450
2F 0/1 435 0 435 $1,697 $20,358
2G 2/1 736 1126 1862 $3,999 $47,991
3A 1/1 493 61 554 $1,839 $22,063
3B 1/1 551 69 619 $2,054 $24,644
3C 2/2 819 61 880 $3,021 $36,256
3D 1/1 584 0 584 $2,090 $25,076
3E 0/1 416 60 476 $1,693 $20,314
3F 0/1 438 60 498 $1,779 $21,353
3G 2/1 811 64 875 $2,996 $35,952
4A 1/1 493 61 554 $1,839 $22,063
4B 1/1 551 69 619 $2,054 $24,644
4C 2/2 819 61 880 $3,021 $36,256
4D 1/1 584 0 584 $2,090 $25,076
4E 0/1 416 60 476 $1,693 $20,314
4F 0/1 438 60 498 $1,779 $21,353
4G 2/1 811 64 875 $2,996 $35,952
5A 1/1 557 61 617 $2,082 $24,985
5B 1/1 551 69 619 $2,072 $24,859
5C 2/2 819 608 1427 $3,738 $44,858
5D 2/2 763 365 1128 $3,222 $38,669
5G 2/2 811 64 875 $3,002 $36,029
25909 3889 29798
Gross rent roll: $948,871
SALES PRO FORMA
1351 DEKALB AVE
Unit
No.
Br/Ba
Approx
SF of
Units
Aprpox SF
of Balcony
/Terrace
Total
SF
Offering
Prices
% of
Common
Interest
Projected
Monthly
Common
Charges
Projected
Monthly
Real
Estate
Taxes
Projected
Annual
Real
Estate
Taxes
Projected
Monthly
Carrying
Charges
Parking n/a/n/a 4969 0 4969 $490,000 2.96% $222 $247 $2,959 $469
CF 1 n/a/3 4547 0 4547 $1,818,600 10.98% $824 $915 $10,983 $1,739
1A 1/1 638 0 638 $542,470 3.28% $246 $273 $3,276 $519
2A 1/1 494 646 1140 $602,763 3.64% $273 $303 $3,640 $576
2B 1/1 551 204 755 $525,838 3.18% $238 $265 $3,176 $503
2C 2/2 819 0 819 $614,250 3.71% $278 $309 $3,710 $587
2D 1/1 584 0 584 $496,145 3.00% $225 $250 $2,996 $474
2E 0/1 416 0 416 $353,260 2.13% $160 $178 $2,133 $338
2F 0/1 435 0 435 $369,750 2.23% $167 $186 $2,233 $354
2G 2/1 736 1126 1862 $833,175 5.03% $377 $419 $5,032 $797
3A 1/1 493 61 554 $436,447 2.64% $198 $220 $2,636 $417
3B 1/1 551 69 619 $487,503 2.94% $221 $245 $2,944 $466
3C 2/2 819 61 880 $629,438 3.80% $285 $317 $3,801 $602
3D 1/1 584 0 584 $496,145 3.00% $225 $250 $2,996 $474
3E 0/1 416 60 476 $370,260 2.24% $168 $186 $2,236 $354
3F 0/1 438 60 498 $389,130 2.35% $176 $196 $2,350 $372
3G 2/1 811 64 875 $624,175 3.77% $283 $314 $3,770 $597
4A 1/1 493 61 554 $436,447 2.64% $198 $220 $2,636 $417
4B 1/1 551 69 619 $487,503 2.94% $221 $245 $2,944 $466
4C 2/2 819 61 880 $629,438 3.80% $285 $317 $3,801 $602
4D 1/1 584 0 584 $496,145 3.00% $225 $250 $2,996 $474
4E 0/1 416 60 476 $370,260 2.24% $168 $186 $2,236 $354
4F 0/1 438 60 498 $389,130 2.35% $176 $196 $2,350 $372
4G 2/1 811 64 875 $624,175 3.77% $283 $314 $3,770 $597
5A 1/1 557 61 617 $490,167 2.96% $222 $247 $2,960 $469
5B 1/1 551 69 619 $487,503 2.94% $221 $245 $2,944 $466
5C 2/2 819 608 1427 $766,125 4.63% $347 $386 $4,627 $733
5D 2/2 763 365 1128 $675,892 4.08% $306 $340 $4,082 $646
5G 2/2 811 64 875 $626,308 3.78% $284 $315 $3,782 $599
25909 3889 29798 $16,558,442 100.00% $7,500 $8,333 $100,000 $15,833
Real Estate tax (year): $100,000.00
Maintenance (year) $50,000.00
Electricity for common spaces (year): $5,000.00
Water (year): $5,000.00
Insurance (year): $15,000.00
Management (year), 3% of gross rent roll: $31,443.88
Vacancy Loss (year), 3% of gross rent roll: $206,443.88
NET rent roll $841,685.56
Studios 1Bd's 2Bd's
1010 Bushwick Ave Studios 1Bd's 2Bd's
Unit 6 12 9
Average SF's 426 553 801
Rents $10,262 $25,081 $28,863
Annual $123,142 $300,973 $346,361
Average PPSF $48.15 $45.39 $48.05
Apartments $770,476
Parking $42,000
CF $136,380
Gross Rent Roll $948,856
Studios 1Bd's 2Bd's
Unit 6 12 9
Average SF's 426 553 801
Sellouts $2,241,790 $5,985,077 6,022,975
Average PPSF $877 $902 $835
Condo Sellouts $16,558,442
CF $1,402,200
Parking $350,000
$18,310,642
Ownership will consider Sale and/or
Refinance, Recapitalization, or
Joint Venture on the properties
either individually or as a package
ASKING PRICE
$4,475,000
32 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 33

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY PHOTOS
1351 DeKalb Ave Bushwick, Brooklyn
Rendering
34 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 35

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
PROPERTY PHOTOS
1351 DeKalb Ave Bushwick, Brooklyn
36 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 37

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
COMPARABLES
38 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 39

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
COMPARABLES
1010 Bushwick Ave, 435 Central Ave, & 1351 DeKalb Ave Brooklyn, NY
SALES COMPS
Address Units SF Sale Price Sale Date Year Built Studios 1Bd's 2Bd's PPU PPSF
189 Cooper St 13 10932 $4,800,000 May-19 2016 0 13 0 $369,231 $439
307 Cornelia St 6 4297 $3,200,000 Jan-20 2018 0 0 6 $533,333 $745
1206 Decatur St 8 5716 $2,715,000 May-20 2015 0 8 0 $339,375 $475
96-100 Himrod St 23 16233 $10,369,998 Feb-20 2018 0 23 0 $450,869 $639
322 Menahan St 13 9927 $4,900,000 Jul-19 2020 0 0 13 $376,923 $494
Totals 63 47105 $25,984,998 44 19 $412,460 $552
CONDO COMPS
Address Price Bedrooms Bath SF PPSF Year Built
1255 Bushwick Avenue $429,000 Studio 1 412 $1,041 2017
309 Cooper Street $450,000 studio 1 425 $1,059 2014
Average $439,500 Studio 1 418.5 $1,050
27 Kossuth Place $530,000 1 1 599 $885 2018
301 Covert Street $520,000 1 1 550 $945 2018
982 Willoughby $489,000 1 1 503 $972 2018
193 Moffat Street $525,000 1 1 613 $856 2020
1110 Madison Street $499,000 1 1 601 $830 2019
Average $512,600 1 1 573.2 $898
282 Eldert Street $730,000 2 2 896 $815 2019
1178 Greene Avenue $775,000 2 1 936 $828 2019
137 Eldert Street $755,000 2 2 1026 $736 2015
1257 Jefferson Ave $769,000 2 2 952 $808 2018
Average $757,250 2 2 952.5 $797
40 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 41

LOCATION
OVERVIEW
BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
42 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 43

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
LOCATION OVERVIEW
1010 Bushwick Ave, 435 Central Ave, & 1351 DeKalb Ave Brooklyn, NY
LOCATION
Bushwick’s borders largely overlap those of Brooklyn Community Board 4, which is delineated
by Flushing Avenue on the north, Broadway on the southwest, the border with
Queens to the northeast, and the Cemetery of the Evergreens on the southeast. The
industrial area north of Flushing Avenue, east of Bushwick Avenue, and south of Grand
Street is commonly considered part of East Williamsburg. However, it is also commonly
included in Bushwick, occasionally with the modifier “Industrial Bushwick.
The town of Bushwick—which, along with Breukelen and Bedford, became incorporated
as the city of Brooklyn on January 1, 1854—included present-day Williamsburg and
Greenpoint. Prior to the merger, in the early 19th century, residential development in the
area had begun when the new district of Williamsburg was laid out in western Bushwick.
Williamsburg was incorporated in 1827 and officially severed from Bushwick in 1839.[8]
Present-day East Williamsburg, which was not part of the city of Williamsburg, was originally
organized primarily as Brooklyn’s 18th Ward from the annexation of Bushwick. Now
part of Brooklyn Community District 1, sections of East Williamsburg are sometimes considered
to be part of Bushwick.
The centroid, or geographic center, of New York City is located on Stockholm Street in
Bushwick, on the block between Wyckoff and St. Nicholas Avenues.
44 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 45

BUSHWICK AVE
CENTRAL AVE
DEKALB AVE
LOCATION OVERVIEW
1010 Bushwick Ave, 435 Central Ave, & 1351 DeKalb Ave Brooklyn, NY
ZONING: 1010 BUSHWICK AVE AND 435 CENTRAL AVE
RETAIL MAP
ZONING: 1351 DEKALB AVE
46 | Rosewood Realty Group • Offering Memorandum
Rosewood Realty Group • Offering Memorandum | 47

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
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
William Tavoulareas
Analyst
Direct: 212.359.9923
Cell: 561.212.5555
william@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 1010 Bushwick Avenue, 435 Central Avenue, & 1351 DeKalb 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 48 | Rosewood written Realty consent Group of Rosewood • Offering Realty Memorandum Group. This offering is subject to prior placement and withdrawal, cancellation or modification without
notice.