THE

BRENNAN

TEAM [JB] JOHN BRENNAN

Vice President Investments

john.brennan@marcusmillichap.com

License: NY: 10401237299

718.475.4373

RICHARD SODEKE

Investment Associate

richard.sodeke@marcusmillichap.com

License: NY: 10401297095

718.475.4365

479 4th Avenue

Brooklyn NY, 11215

CONFIDENTIALITY

AGREEMENT

CONFIDENTIALITY AND DISCLAIMER

The information contained in the following Marketing Brochure

is proprietary and strictly confidential. It is intended to be

reviewed only by the party receiving it from Marcus & Millichap

and should not be made available to any other person or

entity without the written consent of Marcus & Millichap. This

Marketing Brochure has been prepared to provide summary,

unverified information to prospective purchasers, and to

establish only a preliminary level of interest in the subject

property. The information contained herein is not a substitute

for a thorough due diligence investigation. Marcus & Millichap

has not made any investigation, and makes no warranty or

representation, with respect to the income or expenses for the

subject property, the future projected financial performance of

the property, the size and square footage of the property and

improvements, the presence or absence of contaminating

substances, PCB's or asbestos, the compliance with State and

Federal regulations, the physical condition of the improvements

thereon, or the financial condition or business prospects of any

tenant, or any tenant's plans or intentions to continue its

occupancy of the subject property. The information contained

in this Marketing Brochure has been obtained from sources we

believe to be reliable; however, Marcus & Millichap has not

verified, and will not verify, any of the information contained

herein, nor has Marcus & Millichap conducted any

investigation regarding these matters and makes no warranty

or representation whatsoever regarding the accuracy or

completeness of the information provided. All potential buyers

must take appropriate measures to verify all of the information

set forth herein. Marcus & Millichap is a service mark of Marcus

& Millichap Real Estate Investment Services, Inc. © 2017 Marcus

& Millichap. All rights reserved.

NON-ENDORSEMENT NOTICE

Marcus & Millichap is not affiliated with, sponsored by, or

endorsed by any commercial tenant or lessee identified in this

marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or

sponsorship or endorsement by, said corporation of Marcus &

Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is

solely included for the purpose of providing tenant lessee

information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR

MORE DETAILS.

TABLE OF CONTENTS

FINANCIAL ANALYSIS………………………………………….5

PROPERTY OVERVIEW…………………………………………8

MARKET OVERVIEW……………………………………………14

FINANCIAL ANALYSIS

479 4TH AVENUE Unit Status Type Approx.

Square

Feet

Current Rent Current/SF Lease

Expiration

Pro-Forma

Rent

Pro-Forma

/SF

1 FM 3BR –

Duplex

1,715 $6,500.00 $45.48 11.30.2017 $6,500.00 $46.38

2F FM 2BR 690 $2,950.00 $51.30 10.31.2018 $3,300.00 $57.39

2B FM 2BR 690 $3,100.00 $53.91 12.31.2017 $3,300.00 $57.39

3F FM 2BR 690 $3,100.00 $53.91 10.31.2017 $3,300.00 $57.39

3B FM 2BR 690 $3,000.00 $52.17 4.30.2018 $3,300.00 $57.39

4F FM 2BR 690 $3,100.00 $53.91 10.31.2018 $3,300.00 $57.39

4B FM 2BR 690 $3,000.00 $52.17 6.30.2018 $3,300.00 $57.39

5 FM 3BR – Roof Deck

1,045 $4,250.00 $48.80 8.31.2018 $4,500.00 $51.67

CURRENT MONTHLY $29,000.00 PRO-FORMA MONTHLY $30,800.00

CURRENT ANNUAL $348,000.00 PRO-FORMA ANNUAL $369,600.00

RENT ROLL

PAGE 5

*Pro-forma numbers reflect a projected market rent of $44-$57/SF depending on unit type.

FINANCIAL ANALYSIS

CURRENT PRO-FORMA

Gross Scheduled Rent $348,000.00 $369,600

Less: Vacancy/ Deduction 3.00% ($10,440.00) 3.00% ($11,088.00)

Total Effective Rental Income $337,560.00 $358,512.00

Other Income $0 $0

Effective Gross Income $337,560.00 $358,512.00

Taxes $13,751.00 $13,751.00

Fuel $0.00* $0.00*

Water & Sewer $4,756.00* $4,756.00*

Insurance $7,911.76* $7,911.76*

Electric $1,427.23* $1,427.23*

Repairs $4,000.00** $4,000.00**

Payroll $3,200.00** $3,200.00**

Management $10,126.80** $10,755.36

Less: Total Expenses 13.38% ($45,172.79) 12.78% ($45,801.35)

Net Operating Income $292,387.21 $312,710.68

CAP Rate 4.50% 4.81%1

Debt Service $210,153.00 $210,153.00

Net Cash Flow After Debt Service %3.16 $82,234.00 %3.94 $102,558.00

Principal Reduction $74,846.00 $77,508.00

Total Return 6.04% $157,080.00 6.93% $180,066.00

OPERATING STATEMENT

*Actual Expense Experienced by Owner

** Projected Expense 1 Pro-forma cap rate factors in projected market rent of $44-$57/SF depending on unit type.

PAGE 6

FINANCIAL ANALYSIS

$6,500,000 8 Residential Units

7,874 Total Gross Square Feet

5,086 Square Feet of Available Air Rights

$812,500 Per Unit

$672.53 Per Square Foot

$501.54 Per Buildable Square Foot

PRO-FORMA METRICS CAP RATE……………………….…… 4.81%1

GRM ………………………………….17.59

CASH-ON-CASH …………………….3.94%

CURRENT METRICS CAP RATE……………………… 4.50%

GRM …………………………….18.68

CASH-ON-CASH ………………3.16%

FINANCING QUOTE Loan Amount: $3,900,000

Term: 5 years

Interest Rate 3.50%

Monthly Payment $17,513

Amortization 30 Years

Debt Coverage Ratio: 1.46

Non-Recourse

Fixed-rate loans with terms of 7, 10, 15 and 20 years may also be available for this asset. Additionally, other non-standard terms

may be available including reduced pre-payment costs, interest-only periods, and expedited funding timelines.

*For Financing Inquiries, please contact Lior Goldberg of Marcus & Millichap Capital Corporation – 718.475.4375

60%

40%

LTV

Debt Equity

1Pro-forma cap rate factors in projected market rent of $44-$57/SF depending on unit type.

PAGE 7

PROPERTY OVERVIEW

Marcus & Millichap has been exclusively engaged to represent ownership in the sale of 479 4th Avenue, a

five story apartment buildings located between 11th and 12th Streets in the Park Slope neighborhood of

Brooklyn, NY (Block: 1022, Lots: 05). The property is comprised of 8 residential units of occupied high-quality

residential apartments. 479 4th Avenue is entirely deregulated from rent-stabilization.

479 4th Avenue is a free-market 8-family apartment building totaling approximately 7,874 gross square feet,

with 5,086 square feet of unused air rights. This building measures 27 feet wide by 64 feet deep. The actual

collected income of this property is $348,000 per year.

The subject offering is a rare opportunity to acquire a cash-flowing & highly financeable apartment

buildings in one of New York City’s premier submarkets. The asset is a turn-key investment with extensive

upgrades throughout, allowing a new investor to attract high-quality housing demand for the foreseeable

future. 479 4th Avenue offers a new investor multiple options to reposition this asset, or can simply be held at

an attractive 4.50% cap rate with minimal management.

This is a section of Park Slope where condo units are achieving a sell-out scenario of $1100-$1300/SF. With

numerous ongoing development projects in a few block radii, the property also offers a new purchaser

considerable unused air-rights to be developed.

The building is situated two blocks away from the 4th Avenue - 9th Street (F, G, R) train stations and five

blocks away from the Prospect Avenue (R) train station, providing flexible commute options into

Manhattan and other parts of Brooklyn.

PAGE 8

Investment Highlights

▪ Park Slope 8 Unit Trophy Offering

▪ Modern Luxury-Style Residential Units Generating Annual Gross Income:

$348,000/Year

▪ 8 Free-Market Apartments

▪ 5 Story Walk-Up Pre-War Apartment Buildings

▪ Total of 5,086 SF Additional Unused Air Rights Based on R8A Zoning

▪ Professionally Maintained Real Estate with 0 DOB Violations

▪ Turn-Key Assets with Absolutely No Capital Expenditure Needed

▪ Immediate 4.50% Capitalization Rate with Multiple Exit Strategies & Creative

Upside Options

▪ Realistic Condo Conversion Candidate with High-End Condo Units Trading

Upwards of $1200/SF

▪ Annual Current Tax Bill - $13,751 Current Annual

▪ Multiple Transit Options in Immediate Vicinity: 9th St. (F, G, R) Station

PROPERTY OVERVIEW

479 4th Avenue

Zoning R8A, C2-4, EC-1

Block/Lot 1022-05

Building Dimensions 27 ft. x 64 ft.

Building Gross Square

Feet

7,874 SF

Lot Dimensions 27 ft. x 80 ft.

Residential FAR 6

Facility FAR 6

FAR as built 3.65

Additional Air Rights 5,086 SF

Annual Tax Bill $13,751

Tax Class 2B

Status Free-Market

Tax Abatement None

PAGE 10

INTERIOR PICTURES

INTERIOR PICTURES

MECHANICALS & COMMON AREAS

EXTERIOR PICTURES

FLOOR PLANS

APT

#1

LAYOUT

APTS

#4F & 3F

LAYOUTS

PAGE 15

BROOKLYN OVERVIEW

HIGH POPULATION DENSITY Were it to be counted as a standalone city,

Brooklyn would be the fourth largest in the

nation.

CULTURALLY DIVERSE There are almost 100 different ethnic groups

offering unparalleled diversity and access to the

cultures of the world.

COMPETITIVE BUSINESS COSTS Brooklyn has lower business costs than Manhattan

and is easily accessible to the tri-state marketplace.

METRO HIGHLIGHTS

SPORTS

ARTS & ENTERTAINMENT

EDUCATION

Located across the East River from Manhattan, Brooklyn

is the most populous of the five New York City boroughs.

Brooklyn covers 71 square miles of the land mass shared

with Queens. Brooklyn is bordered to the east and south

by the Atlantic Ocean, to the west by the Upper New

York Bay and the East River, and to the north by the

borough of Queens. The borough of Brooklyn, with a

population of more than 2.5 million, is located entirely

within Kings County and is divided into 18 community

districts, many of which have been made famous in

movies, books and television. Some of the most well-

known neighborhoods include Williamsburg, Brooklyn

Heights, Park Slope and Coney Island.

PAGE 16

BROOKLYN OVERVIEW

34.5

2016 MEDIAN AGE:

U.S. Median: 37.7

$47,100

2016 MEDIAN HOUSEHOLD INCOME:

U.S. Median: $54,500

2.7M

2016 POPULATION:

Growth 2016-2021*:

1.8%

995K

2016 HOUSEHOLDS:

2.6%

Growth 2016-2021*:

PAGE 17

2016 Population by Age

0-4 YEARS 8%

5-19 YEARS 18%

20-24 YEARS 7%

25-44 YEARS 32%

45-64 YEARS 23%

65+ YEARS 12%

Ongoing revitalization efforts boroughwide have spawned a modest rebirth of the local

economy. As the maritime industry’s impact wanes, borough officials are developing

creative ways to capitalize on the desirable waterfront location such as in the Brooklyn

Navy Yard, Erie Basin/Sunset Park, Newtown Creek and the Red Hook Marine Terminal.

Residents and visitors have a number of entertainment, sports and cultural venues to

choose from. The Brooklyn Nets and New York Islanders play in the Barclays Center.

Cultural and academic institutions include Brooklyn Academy of Music, the Brooklyn

Museum, the New York Aquarium, Prospect Park and the Brooklyn Botanic Garden.

DEMOGRAPHICS

QUALITY OF LIFE

SHARE OF 2016 TOTAL EMPLOYMENT

MANUFACTURING 3%

GOVERNMENT

HEALTH SERVICES EDUCATION AND +

OTHER SERVICES 5%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

19% AND UTILITIES TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND BUSINESS SERVICES

2% INFORMATION

8%

4%

14% 8% 5%

33%

EXCLUSIVE LISTING AGENTS

JOHN BRENNAN Vice President Investments

1 MetroTech Center Suite 2001

Brooklyn NY 11201

TEL: 718.475.4373

FAX: 718.475.4310

john.brennan@marcusmillichap.com

License: NY 10401237299

RICHARD SODEKE Investment Associate

1 MetroTech Center Suite 2001

Brooklyn NY 11201

TEL: 718.475.4365

FAX: 718.475.4310

richard.sodeke@marcusmillichap.com

License: NY 10401297095