E X C L U S I V E L Y L I S T E D B Y :

John BrennanAssociate Director – National Multi

Housing Group

Brooklyn Office

Tel: (718) 475-4373

Fax: (718) 475-4310

john.brennan@marcusmillichap.com

License: NY 10401237299

6701 5th Avenue Brooklyn, New York 11220

Offering Memorandum

Asking Price: $6,000,000

Bobby Barbatsis

Licensed Real Estate Salesperson

Brooklyn Office

Tel: (718) 475-4356Fax: (718) 475-4310

haralabos.barbatsis@marcusmillichap.co

m

License: NY 10401269675

Maria Barbatsis-SavidisLicensed Real Estate Salesperson

Brooklyn Office

Tel: (718) 475-4378Fax: (718) 475-4310

evmorfea.barbatsis-

savidis@marcusmillichap.com

License: NY 10401222529

6701 5TH AVEBrooklyn, NYACT ID Y0340176

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Non-EndorsementsMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in thismarketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, orsponsorship 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 lesseeinformation about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDEREDAN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representationsor warranties, express or implied, as to the accuracy of the information. References to square footage or age areapproximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service markof Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap. All rights reserved.

6701 5TH AVE

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FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS

6701 5TH AVE

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RENT ROLL DETAIL

6701 5th Avenue, Brooklyn, New York 11220

Tenant Unit Status Type Approx. Sq FT Current Rent Current/SF Pro-Forma Pro-Forma/SF

Apartment 1A RS 1 BR 513 $1,144.61 $26.78 $1,144.61 $26.78

Apartment 1B RS 1 BR 513 $999.12 $23.38 $999.12 $23.38

Apartment 1C RS 1 BR 513 $1,250.00 $29.25 $1,250.00 $29.25

Apartment 1D RC 1 BR 513 $564.85 $13.22 $564.85 $13.22

Apartment 2A RS 1 BR 513 $1,250.00 $29.25 $1,250.00 $29.25

Apartment 2B RS 1 BR 513 $1,080.00 $25.27 $1,080.00 $25.27

Apartment 2C RS 1 BR 513 $978.41 $22.89 $978.41 $22.89

Apartment 2D RS 1 BR 513 $1,130.25 $26.44 $1,130.25 $26.44

Apartment 2E RS 1 BR 513 $812.98 $19.02 $812.98 $19.02

Apartment 2F RS 2 BR 513 $1,600.00 $37.43 $1,600.00 $37.43

Apartment 2G RS 1 BR 513 $1,068.60 $25.00 $1,068.60 $25.00

Apartment 2H Vacant 1 BR 513 $0.00 $0.00 $1,600.00 $37.43

Apartment 3A RS 1 BR 513 $1,200.00 $28.08 $1,200.00 $28.08

Apartment 3B RS 1 BR 513 $1,153.81 $26.99 $1,153.81 $26.99

Apartment 3C RS 1 BR 513 $544.26 $12.73 $544.26 $12.73

Apartment 3D RS 1 BR 513 $1,205.47 $28.20 $1,205.47 $28.20

Apartment 3E RS/Projected Vacant 1 BR 513 $1,200.00 $28.08 $1,440.00 $33.69

Apartment 3F Super 2 BR 513 $0.00 $0.00 $0.00 $0.00

Apartment 3G Vacant 1 BR 513 $0.00 $0.00 $1,600.00 $37.43

Apartment 3H RS 1 BR 513 $853.95 $19.98 $853.95 $19.98

Apartment 4A RS 1 BR 513 $1,055.96 $24.71 $1,055.96 $24.71

Apartment 4B RS 1 BR 513 $713.54 $16.69 $713.54 $16.69

Apartment 4C RS 1 BR 513 $1,066.08 $24.94 $1,066.08 $24.94

Apartment 4D RS 1 BR 513 $1,013.23 $23.71 $1,013.23 $23.71

Apartment 4E RS 1 BR 513 $1,039.70 $24.33 $1,039.70 $24.33

Apartment 4F RS 2 BR 513 $1,435.00 $33.57 $1,435.00 $33.57

Apartment 4G RS 1 BR 513 $1,062.02 $24.85 $1,062.02 $24.85

Apartment 4H RS 1 BR 513 $1,053.90 $24.66 $1,053.90 $24.66

Apartment Basement RS 1 BR 513 $414.59 $414.59 $406.59 $9.51

Apartment 6705 RS Studio 513 $609.11 $14.25 $609.11 $14.25

Apartment 6707 RS Studio 513 $746.98 $17.48 $746.98 $17.48

Retail N/A 2021 N/A 2,500 $4,303.00 $20.65 $4,303.00 $20.65

Cell Tower N/A Not in Service Nextell N/A $0.00 N/A $1,500.00 N/A

Cell Tower N/A Not in Service Sprint N/A $0.00 N/A $1,950.00 N/A

Monthly: $32,549.42 Proforma Monthly: $39,431.42

Annual: $390,593.04 Proforma Annual: $473,177.04

FINANCIAL ANALYSIS

6701 5TH AVE

OPERATING STATEMENT

5

Total SF: 18,400

Rentable SF: 15,640

Res Units 31

Total Units: 32

Actual Pro-Forma

Gross $390,593.04 $431,873.04

Effective $378,875.25 $460,316.85

Taxes $104,494.00 $102,957.00

Fuel $20,000.00 $20,000.00

W&S $15,000.00 $15,000.00

Insurance $14,606.00 $14,606.00

Electric $2,978.00 $2,978.00

Repairs $16,000.00 $16,000.00

Payroll $3,600.00 $3,600.00

Management $11,366.26 $13,809.51

Total $188,044.26 $188,950.51

NOI $190,830.99 $271,366.34

Expense Ratio 49.63% 41.05%

Income Current Year 1

Multifamily

Gross Scheduled Rent $338,963 $380,245

All Other Income $0 $0

Vacancy 3.0% ($10,169) 3.0% ($11,407)

Effective Gross Income $328,794 $368,838

Retail Suites

Gross Scheduled Rent $51,636 $51,636

Expense Reimbursments $0 $0

All Other Income $0 $41,400

Vacancy 3.0% ($1,549) 3.0% ($1,549)

Effective Gross Income $50,087 $91,487

Combined Effective Gross Income (CEGI) $378,875 $460,316

Less: Expenses ($188,044) ($188,951)

Net Operating Income $190,831 $271,365

Tenant Improvements $0 $0

Leasing Commissions $0 $0

Capital Expenditures $0 $0

Cash Flow $190,831 $271,365

Debt Service $0 $0

Net Cash Flow After Debt Service 3.18% $190,831 4.52% $271,365

Principal Reduction $0 $0

Total Return 3.18% $190,831 4.52% $271,365

FINANCIAL ANALYSIS

6701 5TH AVE

CURRENT PRICING

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Price $6,000,000Price Per Square Foot $326.09

Analysis Period Cap Rate

Year 1 4.52%Current 3.18%

Review Analysis Net Residual Value

Year 1 - Cash on Cash Return 4.52% Year Capitalized 2028

Market Financing 1st Loan

Interest Rate N/AAmortization Period N/AMonths of Interest Only N/AAnnual Loan Constant N/ALoan Term N/ALoan to Value N/ALoan Amount $0 Down Payment $6,000,000 DSCR - Year 1 (all loans) N/A

Property Detail

Current Physical Occupancy 97.41% Number of Apartment Units 31Asset / Location Class 0 Number of Commercial Suites 1Asset Type Mixed Use Total Square Feet 18,400

Year of Construction/Renovation 0

0%

20%

40%

60%

80%

100%

% GLA % OF EGI

Multifamily Retail

Zoning R6B, R4-1, C2-3

Block / Lot 5856 / 21

Built Dimensions 63.42 Ft x 130.58 Ft

Residential FAR 2

Facility FAR 2

FAR as built 2.67

Current Proforma

Price $ 6,000,000.00 $ 6,000,000.00

Cap Rate 3.18% 4.52%

GRM 15.361 13.893

PPU $187,500.00 $187,500.00

PPSF $326.09 $326.09

6701 5TH AVE

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INVESTMENT

OVERVIEW

PROPERTY OVERVIEW

6701 5TH AVE

PROPERTY OVERVIEW

Marcus and Millichap has been chosen to exclusively represent ownership in the sale of 6701 5th Avenue, a four story corner walk-upmixed-use building comprised of 31 apartments and 1 ground floor retail space. The subject property is located on the corner of 5thAvenue & 67th Street between 67th Street & Senator Street in the Bay Ridge neighborhood of Brooklyn, New York.

The subject property totals approximately 18,400 gross square feet, and measures 63.42 feet wide by 130.58 feet deep, on a lot thatextends 140 feet deep. The property consists of 30 rent-stabilized apartments and 1 rent-controlled unit.

This property is located 3 blocks away from the Bay Ridge Avenue R Train Station providing easy access to Manhattan, and otherlocations of Brooklyn. Additionally, the property is a few minutes from the Belt Parkway entrance & Gowanus Expressway entrances,providing tenants easy commute feasibility.

PROPERTY OVERVIEW

Bay Ridge 31 Apartments & 1 Retail Space

Corner Building with Roughly 64 Feet of Frontage on 5thAvenue

30 Rent Stabilized & 1 Rent Control Unit OfferingSignificant Margin of Future Upside

2 Apartments Delivered Vacant Upon Sale

Majority of Apartment Rents Below $30/SF in a SubmarketAchieving $37-42/SF For Renovated Product

2 Obsolete Cell Towers Offer Legitimate Cash-Flow Boost ifRe-Leased at Previous Rents

Located on the Cusp of 2 Rapidly Appreciating InvestmentMarkets of Sunset Park & Bay Ridge

Directly in Front of Leif Ericson Park, Minutes to theGowanus Expressway & the Belt Parkway

No “C” Class HPD Violations as of February 2017

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67th STREET & 5TH AVENUE PHOTOS

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ROOF AND AIR-SHAFT PHOTOS

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VACANT APARTMENT PHOTOS

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COMMON AREAS

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MECHANICALS & MAILBOXES

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LOCAL MAP

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AERIAL PHOTO

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