Offering Memorandum_Foreclosure Sale_Bushwick Stalled Construction Portfolio_2.2021_

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