6912-6914 Polk St€¦ · Rent Comparables Summary 6912-6914 Polk St No. Rent Comps 10 Avg. Rent...
Transcript of 6912-6914 Polk St€¦ · Rent Comparables Summary 6912-6914 Polk St No. Rent Comps 10 Avg. Rent...
6912-6914 Polk St
PREPARED BY
James Pompa
Principal
Rent Comparables
50 Unit Apartment Building
Guttenberg, New Jersey - North Hudson County Neighborhood
Subject Property
6912-6914 Polk StGuttenberg, New Jersey - North Hudson County Neighborhood
PROPERTY
-
No. of Units: 50
Stories: -
Avg. Unit Size: -
Year Built: -
Parking: -
Distance to Transit:
Type: Apartments - All
Rent Type: Market
PROPERTY MANAGER
-
-
OWNER
Yusufov, Joseph
12 MONTH NET ABSORPTION
Current: -
Competitor Total: (3) Units
Competitor Avg: (0.6) Units
Submarket Total: 313 Units
Submarket Avg: 0.3 Units
ASKING RENTS PER UNIT/SF
$2.84 /SF
$2.36 /SF
-
Current: - -
Last Quarter: - -
Year Ago: -
Competitors: $2,182
Submarket: $2,407
VACANCY
1,304 Units
7 Units
-
Current: - -
Last Quarter: - -
Year Ago: -
Competitors: 4.8%
Submarket: 6.3%
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 2
Rent Comparables Summary6912-6914 Polk St
No. Rent Comps
10Avg. Rent Per Unit
$2,182Avg. Rent Per SF
$2.36Avg. Vacancy Rate
5.3%RENT COMP LOCATIONS
RENT COMPS SUMMARY STATISTICS
Unit Breakdown Low Average Median High
Total Units
Studio Units
One Bedroom Units
Two Bedroom Units
Three Bedroom Units
12
0
0
0
0
26
1
10
8
2
24
0
10
2
0
52
12
28
36
8
Property Attributes Low Average Median High
2014Year Built
Number of Floors
Average Unit Size
Vacancy Rate
Star Rating
1
799 SF
0.0%
2016
3
902 SF
5.3%
2017
4
912 SF
6.4%
2019
5
1,000 SF
15.8%
3.2
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 3
Rent Comparables Summary6912-6914 Polk St
Property Name/Address Rating Yr Built Units Avg Unit SF Studio 1 Bed 2 Bed 3 Bed Rent/SF
Property Size Asking Rent Per Month Per Unit
-Jaclyn Heights II
32 774 - $2,074 $2,106 $3,288 $2.605609 Jefferson St
1 2014
-Jaclyn Heights I
40 578 $2,675 $1,709 $2,214 - $2.425817 Jefferson St
2 2017
-321 54th St
52 944 - $1,852 $2,272 $2,644 $2.40309 54th St
3 2018
-Polk Place
18 924 - $2,152 - - $2.336813-6817 Polk St
4 2015
-Jaclyn Heights III
28 999 - $1,637 $1,954 $2,535 $2.085805 Jefferson St
5 2014
-561 56th St
12 - - - - - -6 2017
-430 52nd St
24 900 - - - - -7 2018
-408-414 50th St
13 - - - - - -8 2016
-The Rebeka 5711
24 - - - - - -5701-5711 Washington St
9 2019
-6116-6118 Madison St
12 - - - - - -10 2018
-6912-6914 Polk St
50 - - - - - -2020
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 4
Vacancy 0%
309 54th St52 Units / - Stories
Owner: Tenth Avenue Holdings
Rent/SF $2.40,
321 54th St3
Vacancy 5.0%
5817 Jefferson St40 Units / 1 Story
Owner: MonGroup Properties, Inc.
Rent/SF $2.42,
Jaclyn Heights I2
Vacancy 9.4%
5609 Jefferson St32 Units / 4 Stories
Owner: Fred Samuels
Rent/SF $2.60,
Jaclyn Heights II1
Vacancy 8.3%
561 56th St12 Units / 3 Stories
Owner: -
Rent/SF -,
6
Vacancy 3.6%
5805 Jefferson St28 Units / 4 Stories
Owner: The Jayson Company
Rent/SF $2.08,
Jaclyn Heights III5
Vacancy 5.6%
6813-6817 Polk St18 Units / 4 Stories
Owner: Conurban Capital;Mavrides,…
Rent/SF $2.33,
Polk Place4
Vacancy 16.7%
5701-5711 Washington St24 Units / - Stories
Owner: -
Rent/SF -,
The Rebeka 57119
Vacancy 7.7%
408-414 50th St13 Units / 5 Stories
Owner: DeRuggiero, Inc. Realtors
Rent/SF -,
8
Vacancy 0%
430 52nd St24 Units / 4 Stories
Owner: -
Rent/SF -,
7
Rent Comparables Photo Comparison6912-6914 Polk St
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 5
Rent Comparables Photo Comparison6912-6914 Polk St
Vacancy -
6912-6914 Polk St50 Units / - Stories
Owner: Yusufov, Joseph
Rent/SF -,
Subject Property
Vacancy 8.3%
6116-6118 Madison St12 Units / - Stories
Owner: L E A Electric
Rent/SF -,
10
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 6
Rent Comparables6912-6914 Polk St
1 5609 Jefferson St - Jaclyn Heights IIWest New York, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
Vue - Jaclyn Heights II
(201) 683-8700
PROPERTY
0.8 Miles
Property Size: 32 Units, 4 Floors
Avg. Unit Size: 774 SF
Year Built: 2014
Type: Apartments - All
Rent Type:
Parking: 16 Spaces; 0.5 per Unit
Distance to Subject:
Distance to Transit: 9 Minute Walk
Market
OWNER
Purchased Aug 2018
$10,300,000 ($321,875/Unit)
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
1 1 - - - - - $1,755 - $1,743 - 0.7%
1 1 780 28 87.5% 2 7.1% $2,074 $2.66 $2,059 $2.64 0.7%
2 2 - - - - - $2,139 - $2,118 - 1.0%
2 2 977 3 9.4% 1 33.3% $2,106 $2.16 $2,085 $2.13 1.0%
3 2 - 1 3.1% 0 0.0% $3,288 - $3,279 - 0.3%
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
All 1 Beds 780 28 87.5% 2 7.1% $2,053 $2.66 $2,038 $2.64 0.7%
All 2 Beds 977 3 9.4% 1 33.3% $2,123 $2.16 $2,102 $2.13 1.0%
All 3 Beds - 1 3.1% 0 0.0% $3,288 - $3,279 - 0.3%
Totals 799 32 100% 3 9.4% $2,098 $2.60 $2,082 $2.58 0.7%
Updated June 24, 2019Estimate
SITE AMENITIES
Controlled Access, Elevator, Fitness Center, Storage Space
UNIT AMENITIES
Air Conditioning, Granite Countertops, Heating, Kitchen, Range, Refrigerator, Stainless Steel Appliances, Washer/Dryer
RECURRING EXPENSES
Dog Rent $25 Cat Rent $25 Unassigned Garage Parking $100
Unassigned Surface Lot Parking $100 Unassigned Other Parking $150 Storage Fee $30
ONE TIME EXPENSES
Application Fee $35
PET POLICY
Cats Allowed - $25/Mo, 2 MaximumRestrictions: No vicious breedsDogs Allowed - $25/Mo, 2 MaximumRestrictions: No vicious breeds
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 7
Rent Comparables6912-6914 Polk St
2 5817 Jefferson St - Jaclyn Heights IWest New York, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
MonGroup - Jaclyn Heights I
-
PROPERTY
0.7 Miles
Property Size: 40 Units, 1 Floors
Avg. Unit Size: 578 SF
Year Built: Jun 2017
Type: Apartments - All
Rent Type:
Parking: -
Distance to Subject:
Distance to Transit: 11 Minute Walk
Market
OWNER
-
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
Studio 0.5 - 12 30.0% 0 0.0% $2,678 - $2,651 - 1.0%
1 1 - - - - - $2,150 - $2,144 - 0.3%
1 1 567 4 10.0% 0 0.0% $1,657 $2.92 $1,653 $2.91 0.2%
1 1 739 4 10.0% 0 0.0% $1,709 $2.31 $1,704 $2.31 0.3%
1 1 742 4 10.0% 0 0.0% $1,761 $2.37 $1,756 $2.37 0.3%
2 2 929 4 10.0% 0 0.0% $2,227 $2.40 $2,221 $2.39 0.2%
2 2 933 4 10.0% 0 0.0% $2,227 $2.39 $2,221 $2.38 0.2%
2 2 935 4 10.0% 0 0.0% $2,227 $2.38 $2,221 $2.38 0.2%
2 2 939 4 10.0% 0 0.0% $2,175 $2.32 $2,169 $2.31 0.3%
3 2 - - - - - $2,775 - $2,775 - 0.0%
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
All Studios - 12 30.0% 0 0.0% $2,678 - $2,651 - 1.0%
All 1 Beds 683 12 30.0% 0 0.0% $1,743 $2.50 $1,738 $2.50 0.3%
All 2 Beds 934 16 40.0% 0 0.0% $2,214 $2.37 $2,208 $2.36 0.2%
All 3 Beds - - - - - $2,775 - $2,775 - 0.0%
Totals 826 40 100% 0 0.0% $2,237 $2.42 $2,226 $2.41 0.5%
Updated July 01, 2019Estimate
SITE AMENITIES
Controlled Access, Fitness Center, Storage Space
UNIT AMENITIES
Air Conditioning, Granite Countertops, Heating, Stainless Steel Appliances, Washer/Dryer
RECURRING EXPENSES
Dog Rent $50 Cat Rent $50 Storage Fee $50
Free Sewer
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 8
Rent Comparables6912-6914 Polk St
PET POLICY
Cats Allowed - $50/Mo, 2 Maximum, One-Time Fee: $0Restrictions: Restrictions may apply per owners discretion.Dogs Allowed - $50/Mo, 2 Maximum, One-Time Fee: $0Restrictions: Restrictions may apply per owners discretion.
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 9
Rent Comparables6912-6914 Polk St
3 309 54th St - 321 54th StWest New York, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
-
-
PROPERTY
0.9 Miles
Property Size: 52 Units
Avg. Unit Size: 944 SF
Year Built: Mar 2018
Type: Apartments - All
Rent Type:
Parking: -
Distance to Subject:
Distance to Transit: 7 Minute Walk
Market
OWNER
-
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
1 1 738 4 7.7% 0 0.0% $1,827 $2.47 $1,820 $2.47 0.4%
1 1 768 4 7.7% 0 0.0% $1,877 $2.44 $1,869 $2.43 0.4%
2 1 882 4 7.7% 0 0.0% $2,048 $2.32 $2,040 $2.31 0.4%
2 2 828 4 7.7% 0 0.0% $2,010 $2.43 $2,002 $2.42 0.4%
2 2 880 4 7.7% 0 0.0% $2,136 $2.43 $2,128 $2.42 0.4%
2 2 887 8 15.4% 0 0.0% $2,153 $2.43 $2,145 $2.42 0.4%
2 2 905 4 7.7% 0 0.0% $2,197 $2.43 $2,189 $2.42 0.4%
2 2 988 4 7.7% 0 0.0% $2,398 $2.43 $2,389 $2.42 0.4%
2 2 989 4 7.7% 0 0.0% $2,401 $2.43 $2,392 $2.42 0.4%
2 2 1,216 4 7.7% 0 0.0% $2,952 $2.43 $2,941 $2.42 0.4%
3 2 1,146 4 7.7% 0 0.0% $2,526 $2.20 $2,508 $2.19 0.7%
3 2 1,158 4 7.7% 0 0.0% $2,763 $2.39 $2,744 $2.37 0.7%
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
All 1 Beds 753 8 15.4% 0 0.0% $1,852 $2.46 $1,844 $2.45 0.4%
All 2 Beds 940 36 69.2% 0 0.0% $2,272 $2.42 $2,263 $2.41 0.4%
All 3 Beds 1,152 8 15.4% 0 0.0% $2,644 $2.30 $2,626 $2.28 0.7%
Totals 944 52 100% 0 0.0% $2,265 $2.40 $2,255 $2.39 0.4%
Updated June 24, 2019Estimate
SITE AMENITIES
24 Hour Access, Bicycle Storage, Fitness Center, Online Services, Package Service, Roof Terrace, Security System
UNIT AMENITIES
Air Conditioning, Stainless Steel Appliances, Tile Floors, Vinyl Flooring, Walk-In Closets, Washer/Dryer
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 10
Rent Comparables6912-6914 Polk St
ONE TIME EXPENSES
Application Fee $25
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 11
Rent Comparables6912-6914 Polk St
4 6813-6817 Polk St - Polk PlaceGuttenberg, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
Conurban Capital
(201) 351-0609
PROPERTY
0.1 Miles
Property Size: 18 Units, 4 Floors
Avg. Unit Size: 924 SF
Year Built: 2015
Type: Apartments - All
Rent Type:
Parking: -
Distance to Subject:
Distance to Transit: -
Market
OWNER
Purchased Mar 2016
$4,400,000 ($244,444/Unit)
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
1 1 735 3 16.7% 0 0.0% $1,713 $2.33 $1,700 $2.31 0.7%
1 1 803 3 16.7% 0 0.0% $1,941 $2.42 $1,927 $2.40 0.7%
1 1 879 3 16.7% 0 0.0% $2,003 $2.28 $1,989 $2.26 0.7%
1 1 1,023 3 16.7% 0 0.0% $2,384 $2.33 $2,367 $2.31 0.7%
1 1 1,037 3 16.7% 0 0.0% $2,380 $2.29 $2,362 $2.28 0.7%
1 1 1,069 3 16.7% 0 0.0% $2,491 $2.33 $2,473 $2.31 0.7%
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
All 1 Beds 924 18 100% 0 0.0% $2,152 $2.33 $2,136 $2.31 0.7%
Totals 924 18 100% 0 0.0% $2,152 $2.33 $2,136 $2.31 0.7%
Updated June 24, 2019Estimate
SITE AMENITIES
Bicycle Storage, Fitness Center
UNIT AMENITIES
Air Conditioning, Cable Ready, Dishwasher, Hardwood Floors, Heating, High Speed Internet Access, Pantry, Stainless Steel Appliances,Washer/Dryer
ONE TIME EXPENSES
Application Fee $35
PET POLICY
Cats AllowedDogs Allowed
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 12
Rent Comparables6912-6914 Polk St
5 5805 Jefferson St - Jaclyn Heights IIIWest New York, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
The Jayson Company
(908) 688-1111
PROPERTY
0.7 Miles
Property Size: 28 Units, 4 Floors
Avg. Unit Size: 1,000 SF
Year Built: Oct 2014
Type: Apartments - All
Rent Type:
Parking: 70 Spaces; 2.5 per Unit
Distance to Subject:
Distance to Transit: 10 Minute Walk
Market
OWNER
Purchased Aug 2016
$9,200,000 ($328,571/Unit)
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
1 1 754 4 14.3% 0 0.0% $1,637 $2.17 $1,633 $2.17 0.2%
2 2 927 16 57.1% 0 0.0% $1,954 $2.11 $1,946 $2.10 0.4%
3 2 1,268 8 28.6% 1 12.5% $2,535 $2.00 $2,510 $1.98 1.0%
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
All 1 Beds 754 4 14.3% 0 0.0% $1,637 $2.17 $1,633 $2.17 0.2%
All 2 Beds 927 16 57.1% 0 0.0% $1,954 $2.11 $1,946 $2.10 0.4%
All 3 Beds 1,268 8 28.6% 1 12.5% $2,535 $2.00 $2,510 $1.98 1.0%
Totals 1,000 28 100% 1 3.6% $2,074 $2.08 $2,062 $2.06 0.6%
Updated June 24, 2019Estimate
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 13
Rent Comparables6912-6914 Polk St
6 561 56th StWest New York, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
-
-
PROPERTY
0.8 Miles
Property Size: 12 Units, 3 Floors
Avg. Unit Size: -
Year Built: Mar 2017
Type: Apartments - All
Rent Type:
Parking: -
Distance to Subject:
Distance to Transit: 7 Minute Walk
Market
OWNER
-
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
Studio - - - - - - - - - - -
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Totals - 12 100% 1 8.3% - - - - -
Updated June 24, 2019Estimate
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 14
Rent Comparables6912-6914 Polk St
7 430 52nd StWest New York, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
-
-
PROPERTY
1.0 Miles
Property Size: 24 Units, 4 Floors
Avg. Unit Size: 900 SF
Year Built: Jun 2018
Type: Apartments - All
Rent Type:
Parking: -
Distance to Subject:
Distance to Transit: 4 Minute Walk
Market
OWNER
-
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
1 1 850 12 50.0% 0 0.0% - - - - -
2 2 950 12 50.0% 0 0.0% - - - - -
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
All 1 Beds 850 12 50.0% 0 0.0% - - - - -
All 2 Beds 950 12 50.0% 0 0.0% - - - - -
Totals 900 24 100% 0 0.0% - - - - -
Updated June 24, 2019Estimate
SITE AMENITIES
Fitness Center, Laundry Facilities
UNIT AMENITIES
Dishwasher, Granite Countertops, Hardwood Floors, Kitchen, Oven, Range, Refrigerator, Stainless Steel Appliances, Tile Floors, Tub/Shower
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 15
Rent Comparables6912-6914 Polk St
8 408-414 50th StWest New York, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
-
-
PROPERTY
1.1 Miles
Property Size: 13 Units, 5 Floors
Avg. Unit Size: -
Year Built: Nov 2016
Type: Apartments - All
Rent Type:
Parking: 13 Spaces; 1.0 per Unit
Distance to Subject:
Distance to Transit: 3 Minute Walk
Market
OWNER
-
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
1 1.5 - 13 100% 1 7.7% - - - - -
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
All 1 Beds - 13 100% 1 7.7% - - - - -
Totals - 13 100% 1 7.7% - - - - -
Updated June 24, 2019Estimate
SITE AMENITIES
Elevator
UNIT AMENITIES
Air Conditioning, Washer/Dryer
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 16
Rent Comparables6912-6914 Polk St
9 5701-5711 Washington St - The Rebeka 5711West New York, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
-
-
PROPERTY
0.7 Miles
Property Size: 24 Units
Avg. Unit Size: -
Year Built: Feb 2019
Type: Apartments - All
Rent Type:
Parking: 24 Spaces; 1.0 per Unit
Distance to Subject:
Distance to Transit: 10 Minute Walk
Market
OWNER
-
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
Studio - - - - - - - - - - -
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Totals - 24 100% 4 16.7% - - - - -
Updated June 24, 2019Estimate
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 17
Rent Comparables6912-6914 Polk St
10 6116-6118 Madison StWest New York, New Jersey - North Hudson County Neighborhood
PROPERTY MANAGER
-
-
PROPERTY
0.4 Miles
Property Size: 12 Units
Avg. Unit Size: -
Year Built: Aug 2018
Type: Apartments - All
Rent Type:
Parking: 18 Spaces; 1.5 per Unit
Distance to Subject:
Distance to Transit: 14 Minute Walk
Market
OWNER
-
UnitsBed Bath Avg SF Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Unit Mix Availability Avg Asking Rent Avg Effective Rent
UNIT BREAKDOWN
Studio - - - - - - - - - - -
Totals Avg SF Units Mix % Units Percent Per Unit Per SF Per Unit Per SF Concessions
Totals - 12 100% 1 8.3% - - - - -
Updated June 24, 2019Estimate
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 18
Rent Comparables by Bedroom6912-6914 Polk St
Studio Comps
$2,678One Bed Comps
$1,977Two Bed Comps
$2,178Three Bed Comps
$2,646Subject
-
Subject
-
Subject
-
Subject
-
1 Bedroom 2 Bedroom 3 BedroomCurrent Conditions in Rent Comps Studio
Total Number of Units 12 95 83 17
Vacancy Rate 15.4% 4.1% 2.4% 7.1%
Asking Rent Per Unit $2,678 $1,977 $2,178 $2,646
Asking Rent Per SF - $2.48 $2.32 $2.16
Effective Rents Per Unit $2,651 $1,965 $2,170 $2,627
Effective Rents Per SF - $2.47 $2.31 $2.15
Concessions 1.0% 0.6% 0.4% 0.7%
Changes Past Year in Rent Comps Studio 1 Bedroom 2 Bedroom 3 Bedroom
Year-Over-Year Effective Rent Growth 3.2% 1.2% 1.4% 1.7%
Year-Over-Year Vacancy Rate Change
12 Month Net Absorption in Units
10.8%
-1
1.4%
-1 2
-0.6% -2.4%
0
EXISTING UNITS VACANT UNITS
ASKING RENT PER UNIT PER MONTH 12 MONTH NET ABSORPTION IN UNITS
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 19
Studio Rent Comparables6912-6914 Polk St
Property Name/Address Rating Studio Rent Per Unit YearQuarterRent/SF
Change in Rent
5817 Jefferson St
Jaclyn Heights I3.6%0.0%-
$2,678
$2,675 $2,708
$1,800 $2,250 $2,700 $3,150 $3,600
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 20
One Bedroom Rent Comparables6912-6914 Polk St
Property Name/Address Rating One Bedroom Rent Per Unit YearQuarterRent/SF
Change in Rent
6813-6817 Polk St
Polk Place2.0%0.0%$2.33
$2,152
$1,712 $2,491
5609 Jefferson St
Jaclyn Heights II0.9%0.0%$2.61
$2,053
$1,705 $2,074
309 54th St
321 54th St1.3%0.0%$2.46
$1,852
$1,826 $1,876
5817 Jefferson St
Jaclyn Heights I1.4%0.0%$2.54
$1,743
$1,656 $2,150
5805 Jefferson St
Jaclyn Heights III1.4%0.0%$2.17
$1,637
$1,636
$500 $1,250 $2,000 $2,750 $3,500
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 21
Two Bedroom Rent Comparables6912-6914 Polk St
Property Name/Address Rating Two Bedroom Rent Per Unit YearQuarterRent/SF
Change in Rent
309 54th St
321 54th St1.2%0.0%$2.42
$2,272
$2,009 $2,951
5817 Jefferson St
Jaclyn Heights I1.4%0.0%$2.37
$2,214
$2,174 $2,226
5609 Jefferson St
Jaclyn Heights II1.1%0.0%$2.18
$2,123
$2,106 $2,206
5805 Jefferson St
Jaclyn Heights III1.4%0.0%$2.11
$1,954
$1,953
$1,000 $1,750 $2,500 $3,250 $4,000
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 22
Three Bedroom Rent Comparables6912-6914 Polk St
Property Name/Address Rating Three Bedroom Rent Per Unit YearQuarterRent/SF
Change in Rent
5609 Jefferson St
Jaclyn Heights II1.4%0.0%-
$3,288
5817 Jefferson St
Jaclyn Heights I0.4%0.0%$2.36
$2,775
309 54th St
321 54th St1.2%0.0%$2.30
$2,644
$2,525 $2,763
5805 Jefferson St
Jaclyn Heights III1.4%0.0%$2.00
$2,535
$2,534
$1,800 $2,300 $2,800 $3,300 $3,800
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 23
Changes in Rent Comparables6912-6914 Polk St
VACANCY CHANGES PAST QUARTER & YEAR
Past QtrLast YearLast QtrNow
Vacancy Levels Change
Property Name - Address Rating Units Past Year
0.8% -0.8%0%1.5%52 0.8%321 54th St - 309 54th St
4.8% 3.3%0%1.4%44 4.8%Jaclyn Heights I - 5817 Jefferson St
10.3% 2.4%0%7.8%37 10.3%Jaclyn Heights II - 5609 Jefferson St
3.9% -0.4%0%4.3%28 3.9%Jaclyn Heights III - 5805 Jefferson St
6.7% 3.3%0%3.3%18 6.7%Polk Place - 6813-6817 Polk St
ASKING RENT CHANGES PAST QUARTER & YEAR - STUDIO
Past QtrLast YearLast QtrNow
Rents Levels Change
Property Name - Address Rating Units Past Year
$2,678 3.6%0%$2,58513 $2,678Jaclyn Heights I - 5817 Jefferson St
ASKING RENT CHANGES PAST QUARTER & YEAR - ONE BEDROOM
Past QtrLast YearLast QtrNow
Rents Levels Change
Property Name - Address Rating Units Past Year
$1,852 1.3%0%$1,8288 $1,852321 54th St - 309 54th St
$1,743 1.4%0%$1,71913 $1,743Jaclyn Heights I - 5817 Jefferson St
$2,053 0.8%0%$2,03630 $2,053Jaclyn Heights II - 5609 Jefferson St
$1,637 1.4%0%$1,6154 $1,637Jaclyn Heights III - 5805 Jefferson St
$2,152 2.0%0%$2,11018 $2,152Polk Place - 6813-6817 Polk St
ASKING RENT CHANGES PAST QUARTER & YEAR - TWO BEDROOM
Past QtrLast YearLast QtrNow
Rents Levels Change
Property Name - Address Rating Units Past Year
$2,272 1.2%0%$2,24436 $2,272321 54th St - 309 54th St
$2,214 1.4%0%$2,18316 $2,214Jaclyn Heights I - 5817 Jefferson St
$2,123 1.1%0%$2,1016 $2,123Jaclyn Heights II - 5609 Jefferson St
$1,954 1.4%0%$1,92716 $1,954Jaclyn Heights III - 5805 Jefferson St
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 24
Changes in Rent Comparables6912-6914 Polk St
ASKING RENT CHANGES PAST QUARTER & YEAR - THREE BEDROOM
Past QtrLast YearLast QtrNow
Rents Levels Change
Property Name - Address Rating Units Past Year
$2,644 1.2%0%$2,6138 $2,644321 54th St - 309 54th St
$2,775 0.4%0%$2,7642 $2,775Jaclyn Heights I - 5817 Jefferson St
$3,288 1.4%0%$3,2431 $3,288Jaclyn Heights II - 5609 Jefferson St
$2,535 1.4%0%$2,5008 $2,535Jaclyn Heights III - 5805 Jefferson St
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 25
Rent Trends6912-6914 Polk St
PROPERTY ATTRIBUTES Subject Rent CompsNorth Hudson County 3-5
StarNew York 3-5 Star
Existing Units 13,130 1,287,048
Building Rating
Under Construction as % of Inventory - 13.3% 7.0%
170-
-
3.13.23.2
ASKING RENTS PER SF Subject Rent CompsNorth Hudson County 3-5
StarNew York 3-5 Star
Concessions - 0.6% 1.3% 0.9%
AVERAGE EFFECTIVE RENT GROWTH Subject Rent CompsNorth Hudson County 3-5
StarNew York 3-5 Star
Current Quarter - 0.0% -0.2% 0.2%
1 Year Rent Growth - 1.4% 4.2% 3.2%
3 Year Rent Growth - 7.0% 7.6% 7.6%
5 Year Rent Growth - 19.9% 12.6% 13.2%
All-Time Average - 4.0% 1.3% 1.9%
Vacancy Rate Subject Rent CompsNorth Hudson County 3-5
StarNew York 3-5 Star
Current Quarter - 4.2% 7.3% 2.3%
Last Quarter - 4.2% 7.3% 2.4%
1 Year Ago - 3.1% 8.6% 3.0%
3 Years Ago - 6.9% 3.9% 3.2%
5 Years Ago - 8.4% 9.0% 3.2%
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 26
Rent Trends6912-6914 Polk St
OVERALL ASKING RENT PER SQUARE FOOT
OVERALL EFFECTIVE RENT PER SQUARE FOOT
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 27
Rent Trends6912-6914 Polk St
ANNUAL EFFECTIVE RENT GROWTH
CONCESSIONS
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 28
Rent Trends6912-6914 Polk St
VACANCY RATES
OCCUPANCY RATES
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 29
Rent Trends6912-6914 Polk St
RENT COMPARABLES HISTORICAL DATA BY YEAR
RENT COMPARABLES HISTORICAL DATA BY QUARTER PAST 3 YEARS
Rental Rates Per SF Vacancy
Year Units EffectiveAsking Growth Concessions Units Percent Change Net Absorption
2019 179 $2.35 1.1% 0.6% 9 4.8% 0.5% 0$2.36
2018 179 $2.32 2.1% 0.6% 8 4.4% -0.6% (2)$2.34
2017 127 $2.27 3.2% 0.4% 6 5.0% -1.8% 4$2.28
2016 83 $2.21 3.5% 0.5% 6 6.8% -8.9% 1$2.22
2015 83 $2.13 9.3% 1.2% 13 15.7% 6.4% 8$2.16
2014 65 $1.95 2.1% 1.5% 6 9.2% - 25$1.98
2013 - $1.91 - 0.0% - - - -$1.91
2012 - - - - - - - --
2011 - - - - - - - --
2010 - - - - - - - --
Rental Rates Per SF Vacancy
Quarter Units EffectiveAsking Growth Concessions Units Percent Change Net Absorption
2019 Q3 179 $2.35 0.0% 0.6% 9 4.8% 0.0% 0$2.36
2019 Q2 179 $2.35 0.5% 0.6% 9 4.8% 0.1% 0$2.36
2019 Q1 179 $2.34 0.6% 0.6% 8 4.7% 0.3% (1)$2.35
2018 Q4 179 $2.32 0.3% 0.6% 8 4.4% 0.9% (2)$2.34
2018 Q3 179 $2.32 0.9% 0.6% 6 3.5% 0.3% (1)$2.33
2018 Q2 179 $2.29 1.3% 0.6% 6 3.2% -2.7% 5$2.31
2018 Q1 179 $2.27 -0.4% 1.0% 10 5.8% 0.9% 48$2.29
2017 Q4 127 $2.27 0.5% 0.4% 6 5.0% -3.2% 4$2.28
2017 Q3 127 $2.26 0.9% 0.8% 10 8.2% -4.6% 6$2.28
2017 Q2 127 $2.24 0.9% 1.2% 16 12.8% 5.9% 32$2.27
2017 Q1 83 $2.22 0.9% 0.4% 6 6.9% 0.1% 0$2.24
2016 Q4 83 $2.21 0.5% 0.5% 6 6.8% -0.8% 1$2.22
7/8/2019Copyrighted report licensed to Vue Realty Group - 862007.
Page 30