CONTACT ASHISH SARIN (KELLER WILLIAMS NYC TRIBECA) FOR MORE INFORMATION--Offered for sale is a free standing building on 29th street & Lexington Avenue. This is a rare opportunity to snatch a free standing, income producing building in NoMad! Block#00884 Lot#0020 Lot Dimensions: 19.5 Ft 79 Ft Lot Sq.Ft 1,545 FAR: Max FAR 6.02 FAR as built: 2.91 Maximum usable 9,301 Sq.ft Current usable: 4,496 Sq.ft Building class: Single or Multiple Dwelling with stores or offices (S9) The building comprises of 4 free market apartments and 2 rent stabilized apartments. It has 2 commercial/retail spaces on ground/first and second floor. Details of rent roll etc. below. 4 market apartments @ $2500 a month 1 Rent stabilized paying $1657 a month 1 Rent stabilized paying $1800 a month Ground/first floor commercial/Retail/restaurant paying $8500 a month, also pays 30% of taxes & 50% of water/sewer Second floor (doggy care) paying $5000 a monthFacts and numbers: YEARLY EXPENSES Taxes paid in 2015: $44,114 Insurance: $5000 Water & Sewer: $4000 Heat & Electricity: $4500Total expense yearly: $57,614Facts and numbers: YEARLY INCOME Commercial Space ground/first floor: $102,000 Commercial Space Second Floor: $60,000 4 free market apartments: $120,000 2 rent stabilized apartments: $41,484 Taxes and sewer paid by Commercial: $15,234Gross income yearly: $338,718Income $338,718 less expense $57,614 = $281,104 net incomeCAP RATE @ 3.42%
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