Offering Memorandum_Foreclosure Sale_Bushwick Stalled Construction Portfolio_2.2021_

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