PROPERTY DESCRIPTION:
FOUR-STORY, WALK UP, MIXED-USE BUILDING CONSISTING OF 18 APARTMENTS & TWO GROUND – FLOOR RETAIL & 1000 SF COMMUNITY FACILITY

TOTAL MONTHLY: $ 37,033.97

TOTAL ANNUAL: $ 444,407.64

EXPENSES:

PROPERTY TAX:                         $ 67,096 (Store 2- pays $ 6,126 tax reimbursement)

GAS/ELECT:                                 $ 18,000

INSURANCE:                                 $ 9,000

WATER & SEWER:                      $ 21,000

TOTAL ANNUAL EXPENSES:   $ 115,096

NOI:                                         $ 329,311.64

REMARKS:

THE BUILDING USES BOTH GAS & OIL, THE BURNER AUTOMATICALLY SWITCHES TO OIL WHEN UNDER 20 DEGREES. UTILITIES ARE PAID SEPERATELY BY RETAIL & RESIDENTIAL TENANTS. BOTH COMMERCIAL TENANTS HAVE 3% INCREASES. THE BUILDINGS BASEMENT IS FULLY FINISHED. THE PROPERTY IS LOCATED 2 BLOCKS FROM THE 18TH AVE D TRAIN STATION & 2 BLOCKS FROM THE BELT PKWY & GRAVESEND BAY