List Number:1253555977

List Date:9/21/2009

Modify Date:7/21/2010

Property Type:Investment

City/State/Zip:NEW YORK,  NY  

County:Manhattan

Sale Price:$4,500,000.00

Size:9,580 SQ FT

Building Size: 25ft X 80ft= 2,000 SF (approx.)
Lot Size: 25ft X 102.17ft= 2,554 SF (approx.)
Gross SF: 9,580
Zoning/FAR: R8B/4.0
Assessment: $544,900 (09/10 Tentative)
RE Taxes: $72,365 (09/10 Tentative) $7.55PSF
ANNUAL REVENUE: $386,095.08
ANNUAL EXPENSES $131,792.00
NET OPERATING INCOME $254,303.08

Comments:
A Five-Story walk up apartment building in the heart of the Upper East Side which includes 15 residential units, 5 two BR apartments and 10 one BR apartments. 13 units are free market and one unit is Rent Controlled and one Rent Stabilized. The building was partially renovated, steam cleaned, façade was upgraded and floors were redone since it was originally purchased on November 2005. During the last year, 2 apartments were completely renovated and 5 apartments were upgraded with new kitchens and appliances to bring up the market value. Seller is asking buyer to assume a $3,000,000 mortgage which is at a fixed rate of 5.8% for 10 years.