140 Broadway New York, NY 10005it’s who you know | www.gfirealty.com

Exclusive OfferingPrime Greenpoint196 Russell StreetBrooklyn, NYAsking Price: $2,075,000

Property DescriptionGFI Realty Services, LLC is pleased to offer the exclusive opportunity to purchase 196 Russell Street located on a quiet-tree lined block in the prime Greenpoint neighborhood of Brooklyn. The subject property is a fully vacant pre-war (3)-story walk up apartment building comprised of 3 units. The vacant building presents an ideal redevelopment opportunity for an investor to rehabilitate the units to lease out at market rates. The property was built in 1910 and totals approximately 3,135 sf.

The asset is well-situated just off the busy commercial thoroughfare on Nassau Avenue which is occupied by trendy restaurants, quaint cafes and many local businesses. The building is located just a short walk away from the G train at the Nassau and Manhattan Avenue junction. Greenpoint (aka ‘Little Poland’) has experienced an influx of new residents due to Williamsburg’s fleeing population who desire more space without sacrificing the smorgasbord of dining and retail options.

Block/Lot:Year Built: Lot Size:Built Size:FAR:As Built:Built:Assessment:Tax Class:Zoning: Mortgage:

2655/64191019 x 7519 x 552.01.943,135 sf$25,3221R6BDelivered free and clear.

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

3

Property Overview

Asking Price: $2,075,000

196 Russell Street| Brooklyn, NY | Greenpoint

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

Tax Lot Map

4

Grand Central Pkwy

Main Street

79th Ave

150th St

Parso

ns Blvd

78th Rd

78th Ave77th Rd

77th Ave76th Rd

76th Ave75th Rd

75th Ave73rd Ave

72nd Dr72nd Rd

141st St

138th St

78th Dr

78th Rd

136th St

137th St

Main Street

150th St

Union Tpke

Union Tpke

KEW GARDENS HILLS

82nd Ave 138th St

Main Street

Hoover Ave

82nd Dr

150th S

t

Village Rd

84th Ave

196 Russell Street| Brooklyn, NY | Greenpoint

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

5

Aerial

1820 Avenue VBrooklyn, NY

196 Russell Street| Brooklyn, NY | Greenpoint

Transit Map

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

6

Neighborhood Map

196 Russell StreetBrooklyn, NY

196 Russell StreetBrooklyn, NY

196 Russell Street| Brooklyn, NY | Greenpoint

R 6B districts are often traditional row house districts, designed to preserve the scale and harmonious streetscape of the neighborhoods

developed during the 19th century with four-story attached buildings. Many of these houses are set back from the street by stoops or small front yards.

The floor area ratio is 2.0 and the mandatory Quality Housing regulations also accommodate apartment buildings at a similar four- to five-story

scale. The base height of a new building before setback must be between 30 and 40 feet; the maximum building height is 50 feet. To maintain the traditional streetscape, curb cuts are prohibited on lots narrower than 40 feet. The front line wall of a new building, on any lot up to 50 feet wide, must be as deep as one adjacent street wall but no deeper than the other. Off-street parking is not allowed in front of a building and the area between the front wall and the street line must be landscaped. Parking is required for 50% of a building’s dwelling units, or waived if five or fewer spaces are required.

Zoning Map

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

7

150-10 79th AvenueQueens, NY

196 Russell StreetBrooklyn, NY

196 Russell Street| Brooklyn, NY | Greenpoint

of

• Greenpoint (aka ‘Little Poland’) is located in the northern section of Brooklyn bordered by Williamsburg and Bushwick on the southwest, Brooklyn-Queens and East Williamsburg on the southeast, Newton Creek and Long Island City on the north and the East River on the west.

• Greenpoint is served by the Greenpoint Avenue and Nassau Avenue stations on the IND Crosstown Line (G train) of the New York City Subway. It is served by the B24, B32, B43, B48 and B62 bus routes. NY Waterway operates service to points along the East River from its India Street ferry slip.

• The largest park in the area is McCarren Park.

• Greenpoint is currently experiencing an influx of young professionals to the area due to the increase of developments close to the waterfront.

• The neighborhood is a great mix of new and old, trendy and traditional. Greenpoint offers stunning views of Manhattan, flea markets, cafes, galleries, designer boutqiues, bars and concert halls.

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

8

Market Highlights 196 Russell Street| Brooklyn, NY | Greenpoint

Demographics

Area:Population: Population density: Median household income 2013:MalesFemalesMedian age males:Median age females:Average household size:

2.754 square miles95,93934,831 people per square mile$55,12447,87848,44735.233.62.1 people

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

9

196 Russell Street| Brooklyn, NY | Greenpoint

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

Property Map

10

Grand Central Pkwy

Main Street

79th Ave

150th St

Parso

ns Blvd

78th Rd

78th Ave77th Rd

77th Ave76th Rd

76th Ave75th Rd

75th Ave73rd Ave

72nd Dr72nd Rd

141st St

138th St

78th Dr

78th Rd

136th St

137th St

Main Street

150th St

Union Tpke

Union Tpke

KEW GARDENS HILLS

134th St

82nd Ave 138th St

Main Street

Hoover Ave

82nd Dr

150th S

t

Village Rd

84th Ave

196 Russell Street| Brooklyn, NY | Greenpoint

Subject Property

Date Closed: N/AGross SF: 3,135 SF Sales Price: N/ABuilding Dimensions: 19 x 55Residential Units: 3Year Built: 1910Key Metrics: N/ABuilding Class: Walk-UpDistance: 0.00

Date Closed: 5/9/2016Gross SF: 2,180 SF Sales Price: $2,000,000Building Dimensions: 15 x 50Residential Units: 4Year Built: 1931Key Metrics: $666,667/Unit $629/SFBuilding Class: Walk-UpDistance: 0.21 Miles

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

11

Comparables 196 Russell Street| Brooklyn, NY | Greenpoint

196 Russell Street

144 A Newel StreetProperty No. 1

Property No. 2

Date Closed: 9/7/2016Gross SF: 3,150 SF Sales Price: $2,400,000Building Dimensions: 25 x 42Residential Units: 3Year Built: 1901Key Metrics: $800,000/Unit $762/SF Building Class: Walk-UpDistance: 0.27 Miles

81 Mc Guinness Boulevard

Comparables149 Eckford Street Date Closed: 12/29/2016

Gross SF: 2,224 SF Sales Price: $2,450,000Building Dimensions: 18.75 x 36Residential Units: 3Year Built: 1901Key Metrics: $816,667/Unit $1,092/SFBuilding Class: Walk-UpDistance: 0.32 Miles

Property No. 3

57 Russell Street Date Closed: 9/14/2016Gross SF: 3,120 SF Sales Price: $2,050,000Building Dimensions: 20 x 48Residential Units: 3Year Built: 1910Key Metrics: $683,333/Unit $657/SFBuilding Class: Walk-UpDistance: 0.34 Miles

Property No. 4

Although all information furnished regarding property sale, rental or financing is from sources deemed reliable such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof, and it is submitted subject to errors, change of price, rental or other conditions, prior to sale, lease or financing, or withdrawal without notice.

12

196 Russell Street| Brooklyn, NY | Greenpoint

www.gfirealty.com 140 Broadway New York, NY 10005