park slope development site - 7,020 sf

www.CBRCD.com

Prepared by

For Sale

Park Slope Development Site - 7,020 SF55 4th Avenue - For Sale $2,750,000 | Brooklyn, NY 11217

Joseph T. Hamdan, NYS Licensed Broker(718)921-3100 [email protected]

Juan Martes(718)921-3100 [email protected]

Coldwell Banker Reliable

(718)921-3100

Table of Contents

Property Photos

Property Description

Real Estate Investment Details

Executive Summary

Pro Forma Summary

Investment Return Analysis

Cash Flow Analysis

Condo Development Scenario

Internal Rate of Return Analysis

Financial Indicators

Cumulative Analysis

Detailed General Expenses

Annual Property Operating Data per Sq. Ft.

Base Rent Report

Annual Property Operating Data

Tenant Mix Report

Demographics

Confidentiality

Property Photos

Property Photos55 4th Avenue, Brooklyn NY - Park Slope Development

Property Description

Park Slope Development Site - 7,020 SF Buildable55 4th Avenue, Brooklyn, NY

Coldwell Banker Reliable Commercial Division is pleased to offer a 7,020 SF development site in the Park Slope section of Brooklyn. The site situated on a 20 x 58.5 lot zoned C2-4/R8A allows for both residential and commercial development with a Floor Area Ratio of 6. Centrally located on Fourth Avenue with close proximity to public transportation, roads, shopping, the Barclays Center and minutes to Manhattan. Suitable development uses include but are not limited to commercial buildings with a mix of retail and professional space, mixed-use

buildings encompassing ground floor retail and residential units above or a residential condo building. Cost of development is projected at $250 PSF or $1,755,000. The total cost of acquisition and development is projected at $4,505,000 allowing for a capitalization rate of return of 5.9% in year one after development. An alternate scenario allows for the property to be delivered as a condo development. Please review our condo project scenario on page thirteen of the offering memorandum which projects a 22-25% return on investment. The rendering illustrated in this offering is proposed but not approved. For additional information please contact Exclusive Broker Coldwell Banker Reliable Commercial Division.

Park Slope is a neighborhood in northwest Brooklyn, New York City. Park Slope is roughlybounded by Prospect Park and Prospect Park West to the east, Fourth Avenue to the west, FlatbushAvenue to the north, and Prospect Expressway to the south.

Real Estate Investment Details

ANALYSIS

Analysis Date March 2015

PROPERTY

Property Park Slope Development Site - 7,020 SFProperty Address 55 4th Avenue - For Sale $2,750,000

Brooklyn, NY 11217Year Built 1920

FINANCIAL INFORMATION

All Cash

PURCHASE INFORMATION

Property Type CommercialPurchase Price $2,750,000Tenants 6Total Rentable Sq. Ft.Resale Valuation

7,0205.9% (capitalization of noi) after development

LOANS

Debt Term Amortization Rate Payment LO CostsAll Cash

INCOME & EXPENSES

Gross Operating Income $300,595Monthly GOI $25,050Total Annual Expenses ($28,000)Monthly Expenses ($2,333)

CONTACT INFORMATION

Joseph T. Hamdan, NYS Licensed Broker(718)921-3100 [email protected]

Juan Martes(718)921-3100 [email protected]

Executive Summary

ACQUISITION COSTS

Purchase Price, Points and Closing Costs $2,750,000Investment - Cash $4,505,000

INVESTMENT INFORMATION

$2,750,000$458,333

Purchase Price Price per Tenant Price Per buildable Sq. Ft. $391.74

INCOME, EXPENSES & CASH FLOW

Gross Scheduled Income $300,595Total Vacancy and Credits $0Operating Expenses ($28,000)Net Operating Income $272,595Debt Service $0Capital Expenses and Costs ($4,505,000)Expended Reserves $4,505,000Cash Flow Before Taxes $272,595

FINANCIAL INDICATORS

Cash on Cash Return Before Taxes 6.05%

Debt Coverage Ratio N/ACapitalization Rate 5.9%Gross Income / Square Feet $42.82Gross Expenses / Square Feet ($3.99)Operating Expense Ratio 9.31%

Pro Forma Summary

INCOME

Actual Per SF Market Per SF

Gross Potential Rent $292,550 $41.67 ($5,851) ($0.83)

Less: Vacancy $0 $0.00 $0 $0.00

Effective Gross Income $292,550 $41.67 ($5,851) ($0.83)

OPERATING EXPENSESActual Per SF Market Per SF

Building Insurance $7,500 $1.07 $0 $0.00

Maintenance $6,000 $0.85 $0 $0.00

Management Fees $6,000 $0.85 $0 $0.00

Taxes - Real Estate $5,000 $0.71 $0 $0.00

Common Electric $1,000 $0.14 $0 $0.00

Water & Sewer $2,500 $0.36 $0 $0.00

Total Expenses ($28,000) ($3.99) $0 $0.00

Net Operating Income $264,550 $37.69 ($5,851) ($0.83)

Pro Forma Summary

TENANT ANNUAL SCHEDULED INCOME

Tenant Actual Market

Retail $50 ($1)

One or two units $58,500 ($1,170)

One or two units $58,500 ($1,170)

One or two units $58,500 ($1,170)

One or two units $58,500 ($1,170)

One or two units $58,500 ($1,170)

TOTALS $292,550 ($5,851)

ANNUALIZED INCOMEActual Market

Gross Potential Rent $292,550 ($5,851)Less: Vacancy $0 $0Effective Gross Income $292,550 ($5,851)

Less: Expenses ($28,000) $0Net Operating Income $264,550 ($5,851)

ANNUALIZED EXPENSESActual Market

Building Insurance $7,500 $0Maintenance $6,000 $0Management Fees $6,000 $0Taxes - Real Estate $5,000 $0Common Electric $1,000 $0Water & Sewer $2,500 $0

Total Expenses $28,000 $0

Expenses Per RSF $3.99 $0.00

INVESTMENT SUMMARYPrice: $2,750,000

1920

6

7,020

$391.74

1,170 sf

5.9%

Year Built: Tenants:

RSF:

Price Per buildable SF:

Lot Size: Floors:

Cap Rate: :


Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

Cash Flow - To Date $272,595 $553,888 $844,143 $1,143,632 $1,452,636 $1,771,443 $2,100,350 $2,439,665 $2,789,704 $3,150,791

Net Resale Proceeds $4,620,256 $4,767,678 $4,919,576 $5,076,086 $5,237,348 $5,403,506 $5,574,707 $5,751,104 $5,845,574 $5,939,517

Invested Capital ($4,505,000) ($4,505,000) ($4,505,000) ($4,505,000) ($4,505,000) ($4,505,000) ($4,505,000) ($4,505,000) ($4,505,000) ($4,505,000)

Net Return on Investment $387,851 $816,566 $1,258,719 $1,714,718 $2,184,984 $2,669,948 $3,170,057 $3,685,769 $4,130,278 $4,585,308

Internal Rate of Return 8.61% 8.93% 9.04% 9.09% 9.12% 9.14% 9.16% 9.17% 9.04% 8.94%

Modified IRR 8.61% 8.69% 8.56% 8.40% 8.23% 8.07% 7.91% 7.76% 7.50% 7.27%

NPV (cash flow + reversion) $387,851 $816,566 $1,258,719 $1,714,718 $2,184,984 $2,669,948 $3,170,057 $3,685,769 $4,217,557 $4,765,909

PV (NOI + reversion) $4,892,851 $5,321,566 $5,763,719 $6,219,718 $6,689,984 $7,174,948 $7,675,057 $8,190,769 $8,722,557 $9,270,909

Footnotes: a/t = after taxes; Modified IRR = Modified Internal Rate of Return; PV = Present Value; NPV = Net Present Value; NOI = Net Operating IncomeReversion = Amount received from the resale; Net Return on Investment = Cash Flow (a/t To Date) + Net Proceeds from Resale - Invested Capital.



Cash Flow - To Date $3,512,450 $3,873,718 $4,234,589 $4,595,054 $4,955,105 $5,314,734 $5,673,932 $6,032,691 $6,391,002 $6,748,856

Net Resale Proceeds $5,900,281 $5,848,817 $5,797,253 $5,745,588 $5,693,821 $5,641,947 $5,589,967 $5,537,877 $5,485,675 $5,434,096


Net Return on Investment $4,907,730 $5,217,535 $5,526,842 $5,835,643 $6,143,926 $6,451,682 $6,758,899 $7,065,568 $7,371,677 $7,677,951

Internal Rate of Return 8.71% 8.50% 8.33% 8.19% 8.07% 7.97% 7.88% 7.81% 7.75% 7.69%

Modified IRR 6.93% 6.62% 6.35% 6.11% 5.90% 5.71% 5.54% 5.38% 5.23% 5.10%

NPV (cash flow + reversion) $5,137,260 $5,491,917 $5,846,045 $6,199,631 $6,552,666 $6,905,138 $7,257,037 $7,608,350 $7,959,066 $8,309,174

PV (NOI + reversion) $9,642,260 $9,996,917 $10,351,045 $10,704,631 $11,057,666 $11,410,138 $11,762,037 $12,113,350 $12,464,066 $12,814,174

Footnotes: a/t = after taxes; Modified IRR = Modified Internal Rate of Return; PV = Present Value; NPV = Net Present Value; NOI = Net Operating IncomeReversion = Amount received from the resale; Net Return on Investment = Cash Flow (a/t To Date) + Net Proceeds from Resale - Invested Capital.

Cash Flow Analysis


GROSS SCHEDULED INCOME $300,595 $309,613 $318,901 $328,468 $338,322 $348,472 $358,926 $369,694 $380,785 $392,208

Total Operating Expenses ($28,000) ($28,320) ($28,646) ($28,979) ($29,319) ($29,665) ($30,019) ($30,379) ($30,747) ($31,121)

NET OPERATING INCOME $272,595 $281,293 $290,255 $299,489 $309,004 $318,807 $328,908 $339,315 $350,038 $361,087

Loan Payment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Capital Expenses ($4,505,000) $0 $0 $0 $0 $0 $0 $0 $0 $0

Reserves Expended $4,505,000 $0 $0 $0 $0 $0 $0 $0 $0 $0

NET CASH FLOW (b/t) $272,595 $281,293 $290,255 $299,489 $309,004 $318,807 $328,908 $339,315 $350,038 $361,087

Cash On Cash Return b/t 6.05% 6.24% 6.44% 6.65% 6.86% 7.08% 7.30% 7.53% 7.77% 8.02%

Footnotes: b/t = before taxes;a/t = after taxes

Cash Flow Analysis



Total Operating Expenses ($31,504) ($31,894) ($32,292) ($32,698) ($33,112) ($33,534) ($33,965) ($34,404) ($34,852) ($35,309)


Loan Payment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Capital Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Reserves Expended $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

NET CASH FLOW (b/t) $361,659 $361,269 $360,871 $360,465 $360,051 $359,629 $359,198 $358,759 $358,311 $357,854


Footnotes: b/t = before taxes;a/t = after taxes

Coldwell Banker Reliable Commercial Division 7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com

Condo Development Scenario

Property Address

Park slope Section of Brooklyn 55 4th Avenue, Brooklyn, NY — 7,020 SF Buildable

Condo Unit Mix

Six Units: Total sellable value of $5,737,500 representing a 22%-25%

projected gross rate of return on the entire project.

Unit Mix

Unit Mix Projected Value

900 SF Grd FL Retail $765,000 / $850 PSF

5.9% Cap leased at $50 PSF

1,170 SF Second Floor Apt. $994,500 / $850 PSF

1,170 SF Third Floor Apt. $994,500 / $850 PSF

1,170 SF Fourth Floor Apt. $994,500 / $850 PSF

1,170 SF Fifth Floor Apt. $994,500 / $850 PSF

Cost of Acquisition & Development

Cost of Acquisition: $2,750,000

Cost of Development: $1,755,000 / $250 / Per Buildable SF

1,170 SF Sixth Floor Apt. $994,500 / $850 PSF

Property Details

Internal Rate of Return Analysis

BEFORE TAX IRR

Time Future Cash Flows

Initial Investment ($4,505,000)End of Year 1 $272,595 End of Year 11 $361,659End of Year 2 $281,293 End of Year 12 $361,269End of Year 3 $290,255 End of Year 13 $360,871End of Year 4 $299,489 End of Year 14 $360,465End of Year 5 $309,004 End of Year 15 $360,051End of Year 6 $318,807 End of Year 16 $359,629End of Year 7 $328,908 End of Year 17 $359,198End of Year 8 $339,315 End of Year 18 $358,759End of Year 9 $350,038 End of Year 19 $358,311End of Year 10 $361,087 End of Year 20* $6,423,172

IRR = 7.98% * ($357,854 + $6,065,318)

AFTER TAX IRR

Time Future Cash Flows

Initial Investment ($4,505,000)End of Year 1 $272,595 End of Year 11 $361,659End of Year 2 $281,293 End of Year 12 $361,269End of Year 3 $290,255 End of Year 13 $360,871End of Year 4 $299,489 End of Year 14 $360,465End of Year 5 $309,004 End of Year 15 $360,051End of Year 6 $318,807 End of Year 16 $359,629End of Year 7 $328,908 End of Year 17 $359,198End of Year 8 $339,315 End of Year 18 $358,759End of Year 9 $350,038 End of Year 19 $358,311End of Year 10 $361,087 End of Year 20* $5,791,949

IRR = 7.69% * ($357,854 + $5,434,096)



Gross Rent Multiplier 15.37 15.40 15.43 15.45 15.48 15.51 15.53 15.56 15.58 15.60

Capitalization Rate 9.91% 10.23% 10.55% 10.89% 11.24% 11.59% 11.96% 12.34% 12.73% 13.13%


Cash On Cash Return a/t 6.05% 6.24% 6.44% 6.65% 6.86% 7.08% 7.30% 7.53% 7.77% 8.02%

Debt Coverage Ratio N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

Gross Income per Sq. Ft. $42.82 $44.10 $45.43 $46.79 $48.19 $49.64 $51.13 $52.66 $54.24 $55.87

Expenses per Sq. Ft. ($3.99) ($4.03) ($4.08) ($4.13) ($4.18) ($4.23) ($4.28) ($4.33) ($4.38) ($4.43)

Net Income Multiplier 16.95 16.95 16.95 16.95 16.95 16.95 16.95 16.95 16.95 16.95

Operating Expense Ratio 9.31% 9.15% 8.98% 8.82% 8.67% 8.51% 8.36% 8.22% 8.07% 7.93%

Loan To Value Ratio 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Footnotes: b/t = before taxes; a/t = after taxes



Gross Rent Multiplier 15.59 15.57 15.56 15.54 15.52 15.50 15.48 15.47 15.45 15.43

Capitalization Rate 13.15% 13.14% 13.12% 13.11% 13.09% 13.08% 13.06% 13.05% 13.03% 13.01%


Cash On Cash Return a/t 8.03% 8.02% 8.01% 8.00% 7.99% 7.98% 7.97% 7.96% 7.95% 7.94%

Debt Coverage Ratio N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

Gross Income per Sq. Ft. $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01

Expenses per Sq. Ft. ($4.49) ($4.54) ($4.60) ($4.66) ($4.72) ($4.78) ($4.84) ($4.90) ($4.96) ($5.03)

Net Income Multiplier 16.95 16.95 16.95 16.95 16.95 16.95 16.95 16.95 16.95 16.95

Operating Expense Ratio 8.01% 8.11% 8.21% 8.32% 8.42% 8.53% 8.64% 8.75% 8.86% 8.98%

Loan To Value Ratio 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Footnotes: b/t = before taxes; a/t = after taxes

Cumulative Analysis


Equity (appreciation) $1,870,256 $2,017,678 $2,169,576 $2,326,086 $2,487,348 $2,653,506 $2,824,707 $3,001,104 $3,182,854 $3,370,118

Equity (loan reduction) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

CASH FLOW (a/t) $272,595 $553,888 $844,143 $1,143,632 $1,452,636 $1,771,443 $2,100,350 $2,439,665 $2,789,704 $3,150,791

Totals - To Date $2,142,851 $2,571,566 $3,013,719 $3,469,718 $3,939,984 $4,424,948 $4,925,057 $5,440,769 $5,972,557 $6,520,909


ROIC - To Date 47.57% 57.08% 66.90% 77.02% 87.46% 98.22% 109.32% 120.77% 132.58% 144.75%

Footnotes: a/t = after taxes; ROIC = Return On Invested Capital

Cumulative Analysis


Equity (appreciation) $3,379,811 $3,373,199 $3,366,455 $3,359,577 $3,352,561 $3,345,404 $3,338,104 $3,330,659 $3,323,064 $3,315,318

Equity (loan reduction) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

CASH FLOW (a/t) $3,512,450 $3,873,718 $4,234,589 $4,595,054 $4,955,105 $5,314,734 $5,673,932 $6,032,691 $6,391,002 $6,748,856

Totals - To Date $6,892,260 $7,246,917 $7,601,045 $7,954,631 $8,307,666 $8,660,138 $9,012,037 $9,363,350 $9,714,066 $10,064,174


ROIC - To Date 152.99% 160.86% 168.72% 176.57% 184.41% 192.23% 200.05% 207.84% 215.63% 223.40%

Footnotes: a/t = after taxes; ROIC = Return On Invested Capital



Total Expenses ($28,000) ($28,320) ($28,646) ($28,979) ($29,319) ($29,665) ($30,019) ($30,379) ($30,747) ($31,121)

Building Insurance ($7,500) ($7,650) ($7,803) ($7,959) ($8,118) ($8,281) ($8,446) ($8,615) ($8,787) ($8,963)

Maintenance ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000)

Management Fees ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000)

Taxes - Real Estate ($5,000) ($5,100) ($5,202) ($5,306) ($5,412) ($5,520) ($5,631) ($5,743) ($5,858) ($5,975)

Common Electric ($1,000) ($1,020) ($1,040) ($1,061) ($1,082) ($1,104) ($1,126) ($1,149) ($1,172) ($1,195)

Water & Sewer ($2,500) ($2,550) ($2,601) ($2,653) ($2,706) ($2,760) ($2,815) ($2,872) ($2,929) ($2,988)



Total Expenses ($31,504) ($31,894) ($32,292) ($32,698) ($33,112) ($33,534) ($33,965) ($34,404) ($34,852) ($35,309)

Building Insurance ($9,142) ($9,325) ($9,512) ($9,702) ($9,896) ($10,094) ($10,296) ($10,502) ($10,712) ($10,926)

Maintenance ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000)

Management Fees ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000)


Common Electric ($1,219) ($1,243) ($1,268) ($1,294) ($1,319) ($1,346) ($1,373) ($1,400) ($1,428) ($1,457)

Water & Sewer ($3,047) ($3,108) ($3,171) ($3,234) ($3,299) ($3,365) ($3,432) ($3,501) ($3,571) ($3,642)



Rental Income $42.82 $44.10 $45.43 $46.79 $48.19 $49.64 $51.13 $52.66 $54.24 $55.87

Miscellaneous Income $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

GROSS SCHEDULED INCOME $42.82 $44.10 $45.43 $46.79 $48.19 $49.64 $51.13 $52.66 $54.24 $55.87

GROSS OPERATING INCOME $42.82 $44.10 $45.43 $46.79 $48.19 $49.64 $51.13 $52.66 $54.24 $55.87

Expenses Building Insurance ($1.07) ($1.09) ($1.11) ($1.13) ($1.16) ($1.18) ($1.20) ($1.23) ($1.25) ($1.28)

Maintenance ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85)

Management Fees ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85)

Taxes - Real Estate ($0.71) ($0.73) ($0.74) ($0.76) ($0.77) ($0.79) ($0.80) ($0.82) ($0.83) ($0.85)

Common Electric ($0.14) ($0.15) ($0.15) ($0.15) ($0.15) ($0.16) ($0.16) ($0.16) ($0.17) ($0.17)

Water & Sewer ($0.36) ($0.36) ($0.37) ($0.38) ($0.39) ($0.39) ($0.40) ($0.41) ($0.42) ($0.43)

TOTAL OPERATING ($3.99) ($4.03) ($4.08) ($4.13) ($4.18) ($4.23) ($4.28) ($4.33) ($4.38) ($4.43)

NET OPERATING INCOME $38.83 $40.07 $41.35 $42.66 $44.02 $45.41 $46.85 $48.34 $49.86 $51.44



Rental Income $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01

Miscellaneous Income $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

GROSS SCHEDULED INCOME $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01

GROSS OPERATING INCOME $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01 $56.01

Expenses Building Insurance ($1.30) ($1.33) ($1.35) ($1.38) ($1.41) ($1.44) ($1.47) ($1.50) ($1.53) ($1.56)

Maintenance ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85)

Management Fees ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85) ($0.85)

Taxes - Real Estate ($0.87) ($0.89) ($0.90) ($0.92) ($0.94) ($0.96) ($0.98) ($1.00) ($1.02) ($1.04)

Common Electric ($0.17) ($0.18) ($0.18) ($0.18) ($0.19) ($0.19) ($0.20) ($0.20) ($0.20) ($0.21)

Water & Sewer ($0.43) ($0.44) ($0.45) ($0.46) ($0.47) ($0.48) ($0.49) ($0.50) ($0.51) ($0.52)

TOTAL OPERATING ($4.49) ($4.54) ($4.60) ($4.66) ($4.72) ($4.78) ($4.84) ($4.90) ($4.96) ($5.03)

NET OPERATING INCOME $51.52 $51.46 $51.41 $51.35 $51.29 $51.23 $51.17 $51.11 $51.04 $50.98

Base Rent Report


Total Income $300,595 $309,613 $318,901 $328,468 $338,322 $348,472 $358,926 $369,694 $380,785 $392,208

Retail Retail $51 $53 $55 $56 $58 $60 $61 $63 $65 $67

2nd Flr One or two units $60,109 $61,912 $63,769 $65,682 $67,653 $69,683 $71,773 $73,926 $76,144 $78,428

3rd Flr One or two units $60,109 $61,912 $63,769 $65,682 $67,653 $69,683 $71,773 $73,926 $76,144 $78,428

4th Flr One or two units $60,109 $61,912 $63,769 $65,682 $67,653 $69,683 $71,773 $73,926 $76,144 $78,428



Base Rent Report


Total Income $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163

Retail Retail $67 $67 $67 $67 $67 $67 $67 $67 $67 $67

2nd Flr One or two units $78,619 $78,619 $78,619 $78,619 $78,619 $78,619 $78,619 $78,619 $78,619 $78,619

3rd Flr One or two units $78,619 $78,619 $78,619 $78,619 $78,619 $78,619 $78,619 $78,619 $78,619 $78,619






Rental Income $300,595 $309,613 $318,901 $328,468 $338,322 $348,472 $358,926 $369,694 $380,785 $392,208


GROSS OPERATING INCOME $300,595 $309,613 $318,901 $328,468 $338,322 $348,472 $358,926 $369,694 $380,785 $392,208

Expenses Building Insurance ($7,500) ($7,650) ($7,803) ($7,959) ($8,118) ($8,281) ($8,446) ($8,615) ($8,787) ($8,963)

Maintenance ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000)

Management Fees ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000)


Common Electric ($1,000) ($1,020) ($1,040) ($1,061) ($1,082) ($1,104) ($1,126) ($1,149) ($1,172) ($1,195)

Water & Sewer ($2,500) ($2,550) ($2,601) ($2,653) ($2,706) ($2,760) ($2,815) ($2,872) ($2,929) ($2,988)

TOTAL OPERATING ($28,000) ($28,320) ($28,646) ($28,979) ($29,319) ($29,665) ($30,019) ($30,379) ($30,747) ($31,121)




Rental Income $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163


GROSS OPERATING INCOME $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163 $393,163

Expenses Building Insurance ($9,142) ($9,325) ($9,512) ($9,702) ($9,896) ($10,094) ($10,296) ($10,502) ($10,712) ($10,926)

Maintenance ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000)

Management Fees ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) ($6,000)


Common Electric ($1,219) ($1,243) ($1,268) ($1,294) ($1,319) ($1,346) ($1,373) ($1,400) ($1,428) ($1,457)

Water & Sewer ($3,047) ($3,108) ($3,171) ($3,234) ($3,299) ($3,365) ($3,432) ($3,501) ($3,571) ($3,642)

TOTAL OPERATING ($31,504) ($31,894) ($32,292) ($32,698) ($33,112) ($33,534) ($33,965) ($34,404) ($34,852) ($35,309)


Tenant Mix Report

TENANTMIXES

Suite Tenants Approx. SqFt Avg. Rents Monthly Mkt Rents MonthlyRetail Retail 900 $4 $4 $4 $42nd Flr One or two units 1170 $4,875 $4,875 $4,875 $4,8753rd Flr One or two units 1170 $4,875 $4,875 $4,875 $4,8754th Flr One or two units 1170 $4,875 $4,875 $4,875 $4,8755th Flr One or two units 1170 $4,875 $4,875 $4,875 $4,8756th Flr One or two units 1170 $4,875 $4,875 $4,875 $4,8756 6,750 $24,379 $24,379

TENANTMIX TENANTMIX SQUARE FEET

● Retail● One or two units● One or two units● One or two units● One or two units● One or two units


TENANTMIX INCOME TENANTMIXMARKET INCOME



Aerial / Map Report

55 4th Ave - Brooklyn, NY 11217

Street Cross Street Cross Str DistCountYear

Avg DailyVolume

VolumeType

Miles fromSubject Prop

1 4th Ave Warren St 0.02 SW 2012 27,862 MPSI .09

2 Atlantic Ave 5th Ave 0.03 SE 2012 18,150 MPSI .17

3 Flatbush Ave Dean St 0.03 SE 2012 23,868 MPSI .17

4 Fort Greene Pl Hanson Pl 0.06 N 2012 4,795 MPSI .21

5 Flatbush Ave Rockwell Pl 0.04 NW 2012 52,522 MPSI .23

6 3rd Ave State St 0.02 SW 2012 10,466 MPSI .26

7 Nevins St Dean St 0.02 NE 2012 1,561 MPSI .27

8 3rd Ave Douglass St 0.02 SW 2012 10,258 MPSI .28

9 Atlantic Ave S Oxford St 0.03 E 2012 51,665 MPSI .31

10 S Elliott Pl Hanson Pl 0.04 S 2012 2,268 MPSI .32

Traffic Count Report

55 4th Ave, Brooklyn, NY 11217

Type:County:

Retail/Storefront Retail/ResidentialKings

1 Mile

County

Population Growth Household Growth

2014 Med Household Inc 2014 Households by Household Income

2014 Median Age 2014 Population by Race

2014 Renter vs. Owner 2014 Employed vs. Unemployed

Type: Retail/Storefront Retail/Residential

Demographic Market Comparison Report 1 mile radius


Type:County:

Retail/Storefront Retail/ResidentialKings

1 Mile County

Population Growth

2014 Population by Race 154,010 2,599,555

Household Growth

2014 Households by Household Income 70,457 952,000

Growth 2010 - 2014 11.37% 3.79%

Growth 2014 - 2019 7.36% 5.29%

91.85% 90.16%Employed 84,330 1,130,618

8.15% 9.84% Unemployed 7,486 123,394

61.18% 49.52%White 94,220 1,287,217

26.48% 36.14%Black 40,786 939,591

0.65% 1.04%Am. Indian & Alaskan 994 27,143

8.00% 10.98%Asian 12,321 285,498

0.09% 0.14%Hawaiian & Pacific Island 137 3,693

3.60% 2.17%Other 5,552 56,413

Growth 2010 - 2014 7.33% 0.39%

Growth 2014 - 2019 7.24% 5.34%

69.40% 73.23%Renter Occupied 48,898 697,113

30.60% 26.77%Owner Occupied 21,559 254,887

18.61% 31.75%Income <$25K 13,114 302,251

13.48% 22.45%Income $25K - $50K 9,500 213,700

14.44% 15.92%Income $50K - $75K 10,171 151,539

11.81% 10.77%Income $75K - $100K 8,322 102,529

10.08% 6.67%Income $100K - $125K 7,104 63,513

7.19% 4.29%Income $125K - $150K 5,067 40,845

9.21% 4.20%Income $150K - $200K 6,487 39,937

15.18% 3.96%Income $200K+ 10,692 37,686

2014 Med Household Inc $82,340 $44,375

2014 Median Age 37.00 35.00

Demographic Market Comparison Report 1 mile radius


Radius 1 Mile 3 Mile 5 Mile

Population

2019 Projection 165,351 1,271,122 2,835,033

2014 Estimate 154,011 1,190,708 2,687,401

2010 Census 138,289 1,087,980 2,555,409

Growth 2014 - 2019 7.36% 6.75% 5.49%

Growth 2010 - 2014 11.37% 9.44% 5.17%

2014 Population by Hispanic Origin 23,932 254,936 556,618

2014 Population By Race 154,011 1,190,708 2,687,401

White 94,220 61.18% 576,239 48.39% 1,416,729 52.72%

Black 40,786 26.48% 428,763 36.01% 835,976 31.11%

Am. Indian & Alaskan 994 0.65% 12,702 1.07% 26,811 1.00%

Asian 12,321 8.00% 139,847 11.74% 340,673 12.68%

Hawaiian & Pacific Island 137 0.09% 1,729 0.15% 3,782 0.14%

Other 5,552 3.60% 31,429 2.64% 63,430 2.36%

Households

2019 Projection 75,556 503,290 1,127,328

2014 Estimate 70,457 471,566 1,067,908

2010 Census 63,588 431,871 1,014,184

Growth 2014 - 2019 7.24% 6.73% 5.56%

Growth 2010 - 2014 7.33% 5.61% 1.75%

Owner Occupied 21,559 30.60% 97,301 20.63% 257,596 24.12%

Renter Occupied 48,898 69.40% 374,264 79.37% 810,312 75.88%

2014 Households by HH Income 70,457 471,564 1,067,907

Income: <$25,000 13,114 18.61% 141,100 29.92% 290,246 27.18%

Income: $25,000 - $50,000 9,500 13.48% 89,451 18.97% 202,561 18.97%

Income: $50,000 - $75,000 10,171 14.44% 73,414 15.57% 167,301 15.67%

Income: $75,000 - $100,000 8,322 11.81% 47,669 10.11% 110,929 10.39%

Income: $100,000 - $125,000 7,104 10.08% 35,471 7.52% 84,826 7.94%

Income: $125,000 - $150,000 5,067 7.19% 21,823 4.63% 52,031 4.87%

Income: $150,000 - $200,000 6,487 9.21% 24,795 5.26% 62,510 5.85%

Income: $200,000+ 10,692 15.18% 37,841 8.02% 97,503 9.13%

2014 Avg Household Income $111,100 $78,171 $83,462

2014 Med Household Income $82,340 $51,676 $55,702

Demographic Summary Report


Business Employment by Type # of Businesses # Employees #Emp/BusTotal Businesses 7,583 81,220 11

Retail & Wholesale Trade 1,263 9,137 7

Hospitality & Food Service 960 10,097 11

Real Estate, Renting, Leasing 409 2,745 7

Finance & Insurance 291 2,350 8

Information 192 1,443 8

Scientific & Technology Services 1,064 4,485 4

Management of Companies 8 24 3

Health Care & Social Assistance 1,408 14,181 10

Educational Services 228 15,156 66

Public Administration & Sales 137 8,956 65

Arts, Entertainment, Recreation 137 761 6

Utilities & Waste Management 289 2,826 10

Construction 246 1,747 7

Manufacturing 115 1,160 10

Agriculture, Mining, Fishing 3 9 3

Other Services 833 6,143 7

Daytime Employment Report 1 Mile Radius


2014 Annual Spending ($000s) 1 Mile 3 Mile 5 Mile

Total Specified Consumer Spending $2,044,512 $11,166,996 $26,517,776

Total Apparel $117,965 $736,834 $1,703,805

Women's Apparel 50,606 299,841 696,120

Men's Apparel 26,156 155,817 364,934

Girl's Apparel 7,750 53,974 123,448

Boy's Apparel 5,242 36,911 84,403

Infant Apparel 5,398 35,997 81,434

Footwear 22,813 154,294 353,466

Total Entertainment & Hobbies $154,930 $836,624 $1,983,301

Entertainment 22,752 125,449 296,514

Audio & Visual Equipment/Service 79,546 458,170 1,063,255

Reading Materials 9,197 41,779 103,600

Pets, Toys, & Hobbies 43,435 211,226 519,933

Total Food and Alcohol $544,512 $3,202,948 $7,525,844

Food At Home 271,200 1,762,846 4,086,557

Food Away From Home 229,259 1,220,669 2,908,726

Alcoholic Beverages 44,054 219,433 530,561

Total Household $331,100 $1,601,701 $3,869,374

House Maintenance & Repair 35,172 150,609 391,935

Household Equip & Furnishings 127,970 661,831 1,569,221

Household Operations 114,760 559,058 1,342,044

Housing Costs 53,198 230,204 566,173

Consumer Spending Report


Consumer Spending Report


2014 Annual Spending (000s) 1 Mile 3 Mile 5 Mile

Total Transportation/Maint. $488,016 $2,697,473 $6,377,664

Vehicle Purchases 103,733 513,042 1,263,270

Gasoline 203,498 1,222,775 2,846,600

Vehicle Expenses 51,145 283,246 648,884

Transportation 83,940 450,446 1,056,342

Automotive Repair & Maintenance 45,699 227,964 562,568

Total Health Care $89,510 $498,706 $1,210,408

Medical Services 55,195 290,950 710,209

Prescription Drugs 24,256 151,007 365,736

Medical Supplies 10,059 56,749 134,464

Total Education/Day Care $180,620 $873,047 $2,127,437

Education 111,423 562,434 1,362,440

Fees & Admissions 69,197 310,612 764,997

park slope development site - 7,020 sf

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