502 West 167th Street, New York, NY MIXED-USE BUILDING FOR SALE 25 of Frontage - Near Columbia Presbyterian Hospital

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1 MIXED-USE BUILDING FOR SALE 25 of Frontage - Near Columbia Presbyterian Hospital ASKING PRICE: $3,800,000 Building Features Location: South side of West 167th Street between Audubon and Amsterdam Avenue Block / Lot: 2123 / 61 Lot Size: 25 x 85 Lot Area: 2,125 Building Size: 25 x 70 Stories: 6 Building Gross SF (Above Grade): 8,700 Commercial SF: 500 (approx) Residential SF: Net Resi. SF (15% Loss Factor): 8,200 (approx.) 6,970 (approx.) Avg. Net Resi. Unit Size: 634 (approx.) Residential Units: 11 Commercial Units: Zoning: R7-2 FAR: 3.44 Assessment (15/16) $361,710 Taxes (15/16) $46,498 Asking Price: $3,800,000 Property Description 1 + Basement Storage Unit Gross Annual Revenue: $249,815 PPU: $316,667 Expenses & Vacany Loss: $103,207 PPSF $437 NOI: $146,608 Capitalization Rate: 3.86% Gross Rent Multiple: 15.2x 502 West 167th Street is a 25 wide, 8,700 square foot, 12 unit mixed-use apartment building located on the south side of West 167th Street between Audubon and Amsterdam Avenue. This six-story building is comprised of 11 residential apartments, 1 retail store and 1 basement storage unit. All of the 11 residential apartments are rent stabilized and contain two-bedrooms with an average unit size of 634 net square feet. Recent major capital improvements include work to the boiler and the installation of a security system. Tenants benefit from the property s close proximity to Columbia Presbyterian Hospital which is located two blocks away and recognized as one of the largest and most distinguished hospitals in the United States. Additionally, the building is located between the Broadway and Amsterdam Avenue retail corridors which host a variety of local and national tenants. These retail tenants include Starbucks, Dunkin Donuts, Chipotle, Wendy s, Subway, Citibank, Bank of America, Heights Tavern, Dallas BBQ and Coogans. Public transportation is easily accessible via the A, C and 1 subway lines located at the corner of Broadway and West 168th Street as well as numerous bus lines that service the area. For More Information, Please Contact: Robert M. Shapiro Executive Vice President (212) robert.shapiro@cushwake.com Clint Olsen Director (212) clint.olsen@cushwake.com Daniel P. Maurer Associate Director (212) daniel.maurer@cushwake.com Ian Brooks Associate (212) ian.brooks@cushwake.com Madeline Burbank Associate (212) madeline.burbank@cushwake.com Cushman & Wakefield 275 Madison Avenue, New York, NY phone: nyinvestmentsales.com

2 Residential Revenue Unit BRs Status Expiration Base Rent Pref MCI* Actual Rent 1 2 RS 5/31/16 $1,768 $88 $1, RS 7/31/16 $2,300 $(500) $1, RS 4/30/16 $1,800 $88 $1, RS 4/30/16 $2,368 $(618) $1, RS 11/30/15 $1,667 $88 $1, RS 8/31/16 $2,450 $(675) $1, RS 8/31/17 $1,091 $88 $1, RS 10/31/16 $2,000 $2, RS 6/30/15 $1,560 $88 $1, RS 6/30/16 $1,123 $88 $1, RC $677 $677 $18,804 $(1,793) Total Monthly Residential Revenue: $17,538 Gross Annual Residential Revenue: $210,455 Average Rent / Residential Apt: $1,594 Residential Rent Per Net Square Foot: $30.19 *Total Pending MCI Increase is $11,599 annually or $967 monthly. Vacant, RC & pref rent units do not receive MCI increase in actual rent column. Commercial Revenue Unit Expiration Sq. Ft. RPSF Actual Rent Retail 12/31/ $43 $1,780 Storage* VACANT $1,500 *Storage unit is an unfinished space located in the basement. Total Monthly Commercial Revenue: $3,280 Gross Annual Commercial Revenue: $39,360 Average Rent / Commerical Unit: $1,640 Retail Rent Per Square Foot: $42.72 Combined Revenue Combined Monthly Revenue: $20,818 Combined Gross Annual Revenue: $249,815

3 RESIDENTIAL REVENUE Residential Gross Annual Revenue $210,455 Vacancy 3% of Gross Annual Revenue $6,314 Effective Residential Gross Annual Revenue $204,141 COMMERCIAL REVENUE Commercial Gross Annual Revenue $39,360 Vacancy 5% of Gross Annual Revenue $1,968 Effective Commercial Gross Annual Revenue $37,392 Combined Effective Gross Annual Revenue $241,533 EXPENSES (ESTIMATED) Real Estate Taxes (15/16) $46,498 Water/Sewer (MCP) Actual $12,698 Insurance Actual $3,600 Heating Fuel $1.00 / Sq. Ft. $8,700 $0.15 / Sq. Ft. $1,305 $550 / Res. Unit $6,050 Cleaning & $200 / Mo. $2,400 General & $250 / Res. Unit $2,750 $4,800 3% / EGR $6,124 Total Expenses: $94,926 Expenses Per Unit: $7,910 Combined Effective Gross Annual Revenue: $241,533 Less Total Expenses: $94,926 Net Operating Income: $146,608 Asking Price: $3,800,000 Gross Annual Income: $249,815 PPU: $316,667 Expenses & Vacany Loss: $103,207 PPSF $437 NOI: $146,608 Capitalization Rate: 3.86% Gross Rent Multiple: 15.2x

4 502 WEST 167 TH S T R E E T West 167th Street Audubon Avenue BLOCK Amsterdam Avenue West 166th Street

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