620 W A

620 WASHINGTON AVENUE, BROOKLYN, NY 11238
PRIME PROSPECT HEIGHTS LOCATION
MIXED USE JEWEL – DELIVERED VACANT /VALUE-ADD POTENTIAL
EXCLUSIVE OFFERING SUMMARY
For further information, please contact exclusive broker:
Ari Weisfogel
(646) 472-8726
[email protected]
620 WASHINGTON AVENUE, BROOKLYN, NY 11238
PRIME PROSPECT HEIGHTS LOCATION
MIXED USE JEWEL – DELIVERED VACANT /VALUE-ADD POTENTIAL
Address:
620 WASHINGTON AVENUE, BROOKLYN, NY 11238
Description:
3-story 2,700 SF mixed use building containing one ground floor retail space and two
apartments above. The property will be delivered vacant. There are approved plans to add
one additional floor to the building, allowing for two 1,400 SF duplex apartments, each with
their own outdoor patio space. The approved plans also allow for 450 SF to be added to the
retail space by extending the back.
Between Pacific Street and Dean Street
Neighborhood
Block/Lot
Lot Size
Built
Stories
Total Apartments
Total Rooms
Layout
Total Stores
Zoning
FAR (built/allowed)
Year Built
Assessment/Taxes (14/15)
1st Mortgage:
Delivered Free & Clear
Income:
Apartments (Projected)
Commercial (Projected)
Estimated
Expenses:
Taxes (14/15)
Water & Sewer
Payroll
Fuel (Gas)
Insurance
Utilities
Repairs, Maintenance, Misc.
Estimated Net Operating Income:
Prospect Heights
1131/17
20’ x 75’
20’ x 45’
3
2
8
2/4
1
C2-4/R6A
2.11/3.0
1931
$12,441/$2,388
$ 96,000
$ 60,000
$
$
$
$
$
$
$
2,400
1,800
2,000
2,500
1,700
1,000
7,500
$156,000
$ 18,900
$137,100
Price:
$2,200,000 ALL CASH
Remarks:
Right next door to brand new Hello Washington Boutique Luxury Condo Development at
618. One block south of Atlantic Avenue. Near the [A, C] subway trains.
Metrics:
Average Rent / Apartment / Month
Price / SF
Gross Rent Multiplier (x)
Cap Rate (%)
$4,000 (Projected)
$815
14.01
6.23
Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied
as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No
warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied.
AW103014
Besen & Associates, Inc., 381 Park Avenue South, New York, NY 10016
(212) 689-8488 Tel · (212) 689-9518 Fax · www.besenassociates.com
620 WASHINGTON AVENUE, BROOKLYN, NY 11238
PRIME PROSPECT HEIGHTS LOCATION
MIXED USE JEWEL – DELIVERED VACANT /VALUE-ADD POTENTIAL
PROPERTY PHOTO
PLOT MAP
Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied
as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No
warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied.
AW103014
Besen & Associates, Inc., 381 Park Avenue South, New York, NY 10016
(212) 689-8488 Tel · (212) 689-9518 Fax · www.besenassociates.com