BESEN
INVESTMENT
SALES TEAM
Niko Berdzeni
Director
(212) 292-0070
Ronald H. Cohen
Chief Sales Officer
(646) 424-5317
Michael Besen
President & CEO
(212) 689-8488
Paul J. Nigido
Senior Financial Analyst
(646) 424-5350
Besen & Associates
381 Park Avenue South
New York, NY 10016
Tel: 212.689-8488
Fax: 212.689-9518
TABLE OF
CONTENTS
EXECUTIVE SUMMARY
• INVESTMENT HIGHLIGHTS
PROPERTY OVERVIEW
• LOCATION MAP
• PROPERTY PHOTOS
FINANCIAL OVERVIEW
• INCOME/EXPENSE REPORT
• RENT ROLL
LOCATION OVERVIEW
• TRANSPORTATION MAPS
ZONING OVERVIEW
• R6/C1-3
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 3
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Besen & Associates, Inc., as exclusive agent for ownership, is pleased to offer for sale 99 &
101 Graham Avenue, Brooklyn, NY 11206 (the “Property”) aka 122-130 McKibbin Street.
These three contiguous walk-up buildings situated on 2 separate tax lots contain 8 apartments
(4 one-bedroom and 4 three-bedroom units) with 2 stores totaling approximately 10,875± SF.
Built between circa 1931 and 1952, these properties come with approximately 13,125± SF of
unused air rights yielding a total of approximately 24,000± buildable SF (4.8 F.A.R. including
Community Facility).
Located in a prime location of Williamsburg, the Property is situated on the southwest corner
of Graham Avenue and McKibbin Street, near the Lorimer Street & subway station and the
Montrose Avenue subway station on the train.
ASKING PRICE: $9,000,000
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 6
EXECUTIVE SUMMARY
• Long-term retail tenants operating for 30+ years out of the same location
• Below market rents offering upside upon tenant vacancy
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 7
IMPROVEMENTS
• Most of the units have been renovated and the property is well-maintained
• Requiring minimal near-term capital and low maintenance costs
• Easy access to I-278 (Brooklyn-Queens Expressway), all public transportation, and only 6
miles to Midtown Manhattan. 15 minute subway ride to the East Village/Lower East Side.
CONVENIENT TRANSPORTATION ACCESS
• The retail component of the Property offers exceptional corner frontage with 50’ along
Graham Avenue and 100’ feet of frontage along McKibbin Street
• Located in the heart of Williamsburg, one of Brooklyn’s most desirable neighborhoods
PRIME LOCATION
TREMENDOUS RETAIL
INVESTMENT HIGHLIGHTS:
PROPERTY OVERVIEW | 99 GRAHAM AVENUE
Neighborhood Williamsburg
Block / Lot 3088 / 16
Lot & Built Size 25’ x 100’ (built 25’ x 45’)
Gross Building Area 3,375± SF
Stories 3-story walk-up building
Total Apartments & Rooms 2 apartment & 10 rooms
Apartment Layout Two 3-bedroom units
Zoning R6 / C1-3
FAR (built / allowed) 1.35 / 2.43 (4.8 FAR for Community Facility)
Year Built Circa 1931
Assessment & Taxes (17/18) $23,328 / $4,663
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 9
PROPERTY OVERVIEW | 101 GRAHAM AVENUE & 122 MCKIBBIN STREET
Neighborhood Williamsburg
Block / Lot 3088 / 15
Lot & Built Size 25’ x 100’ (built: full)
Gross Building Area 7,500± SF
Stories 3-story walk-up building
Total Apartments & Rooms 6 apartment & 22 rooms
Apartment Layout 4/3, 2/5
Zoning R6 / C1-3
FAR (built / allowed) 1.35 / 2.43 (4.8 FAR for Community Facility)
Year Built Circa 1952
Assessment & Taxes (17/18) $364,180 / $38,508
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 10
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 11
LOCATION MAP
99 & 101 Graham Avenue
Eastern District YMCA
Manhattan Liquor
Bank of AmericaBazaar Supermarket
Sprint Store
Moore Street Market
Petland Discounts
INCOME & EXPENSES
REVENUE AMOUNT
Apartments $204,000
Commercial $180,000
GROSS INCOME: $384,000
ESTIMATED EXPENSES
Real Estate Taxes (17/18) $41,200
Water & Sewer $7,600
Payroll $4,800
Fuel $8,400
Insurance $5,200
Utilities $4,895
Repairs, Maintenance & Misc. $7,600
TOTAL EXPENSES: $79,695
NET OPERATING INCOME: $304,305
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 14
RESIDENTIAL RENT ROLL
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 15
APT# TENANT # RENT/MONTH # ROOMS LXP STATUS
99-1 Tenant 1 $2,800.00 5 02/28/2018 FM
99-2 Tenant 2 $2,950.00 5 02/15/2018 FM
101-1 Tenant 3 $2,700.00 5 08/31/2017 FM
101-2 Tenant 4 $2,550.00 5 08/31/2017 FM
122-1 Tenant 5 $1,500.00 3 09/30/2017 FM
122-2 Tenant 6 $1,450.00 3 04/01/2017 FM
122-3 Tenant 7 $1,450.00 3 08/31/2017 FM
122-4 Tenant 8 $1,600.00 3 12/31/2017 FM
Residential Monthly Income $17,000.00 32
Residential Annual Income $204,000.00
RESIDENTIAL RENT ANALYSIS (By Apartment)
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 16
RESIDENTIAL RENT ANALYSIS (By Room)
Layout # of Units Unit % Total Monthly RentAverage Monthly
Rent
1 - BR 4 50% $6,000 $1,500
3 - BR 4 50% $11,000 $2,750
Total/Avg: 8 100% $17,000 $2,125
Layout # of Rooms Room % Total Monthly Rent Average Room Rent
3 Rooms 12 38% $6,000 $500
5 Rooms 20 63% $11,000 $550
Total/Avg: 32 100% $17,000 $531
COMMERCIAL RENT ROLL
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 17
UNIT UNIT RENT/MONTH LXP SQ. FT. PSF
122 Fashion Furniture $7,500.00 M-T-M 2,500 $36.00
99 & 101 Fashion Furniture $7,500.00 M-T-M 2,500 $36.00
Commercial Monthly Total $15,000.00
Commercial Annual Total $180,000.00
Combined Annual Total $384,000.00
Williamsburg has emerged in recent years as a pop-culture darling, and a force in defining NYC
trends. While it seems that everyone has an opinion on Williamsburg’s true cultural cache, those that
live in the neighborhood prefer not to overthink it. Instead, you’ll find a refreshingly care-free community
where the motto is “do your own thing” - and always have a good time along the way.
Williamsburg has long been the setting of many seminal films and books that represent life in Brooklyn
in the 1900s. As a manufacturing neighborhood, the area attracted hard-working New Yorkers.
Decades later, Williamsburg began to attract an overflow of artists from downtown Manhattan, and
since then it has become a beacon of Brooklyn creativity.
Over the past few years, people on the cutting edge of music and fashion trends have moved into
Williamsburg, giving the neighborhood an energetic and artistic atmosphere.
LOCATIONOVERVIEW
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TRANSPORTATION
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NEAREST SUBWAY
COMMUTER TIMES
Atlantic Avenue 32m by train, 18m by car
Grand Central 32m by train, 18m by car
Union Square 23m by train, 17m by car
Wall Street 30m by train, 17m by car
R6
R6 zoning districts are widely mapped in built-up, medium-density areas in Brooklyn, Queens and the Bronx. The
character of R6 districts can range from neighborhoods with a diverse mix of building types and heights to large-
scale “tower in the park” developments such as Ravenswood in Queens and Homecrest in Brooklyn. Developers
can choose between two sets of bulk regulations. Standard height factor regulations, introduced in 1961, produce
small multi-family buildings on small zoning lots and, on larger lots, tall buildings that are set back from the street.
Optional Quality Housing regulations produce high lot coverage buildings within height limits that often reflect the
scale of older, pre-1961 apartment buildings in the neighborhood.
Buildings developed pursuant to height factor regulations are often tall buildings set back from the street and
surrounded by open space and on-site parking. The floor area ratio (FAR) in R6 districts ranges from 0.78 (for a
single-story building) to 2.43 at a typical height of 13 stories; the open space ratio (OSR) ranges from 27.5 to 37.5.
Generally, the more open space, the taller the building. In the diagram, for example, 81% of the zoning lot with the
13-story building is required to be open space (2.43 FAR × 33.5 OSR). Thus, the maximum floor area ratio is
achievable only where the zoning lot is large enough to accommodate a practical building footprint as well as the
required amount of open space. There are no height limits for height factor buildings although they must be set
within a sky exposure plane which begins at a height of 60 feet above the street line and then slopes inward over
the zoning lot. Off-street parking is required for 70% of a building’s dwelling units, or it can be waived if five or
fewer spaces are required.
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99 & 101 Graham Avenue
R6
The optional Quality Housing regulations produce high lot coverage buildings set at or near the street line. Height
limitations ensure that these buildings are often more compatible with older buildings in the neighborhood. As an
incentive for developers to choose the Quality Housing option outside the Manhattan Core, greater floor area
ratio, and therefore, more apartments, is permitted for buildings on orwithin 100 feet of a wide street than would
be permitted under height factor regulations. The FAR is 3.0; the maximum base height before setback is 60 feet
with a maximum building height of 70 feet. On a narrow street (beyond 100 feet of a wide street), the maximum
FAR is 2.2; the maximum base height before setback is 45 feet with a maximum building height of 55 feet. The
area between a building’s street wall and the street line must be planted and the buildings must have interior
amenities for the residents pursuant to the Quality Housing Program.
Off-street parking, which is not permitted in front of a building, is required for 50% of all dwelling units, less than
for height factor buildings because of the high lot coverage. Parking can be waived if five or fewer spaces are
required.
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C1-3
C1-1 through C1-5 and C2-1 through C2-5 districts are commercial overlays mapped within residence districts.
Mapped along streets that serve local retail needs, they are found extensively throughout the city’s lower- and
medium-density areas and occasionally in higher-density districts.
Typical retail uses include neighborhood grocery stores, restaurants and beauty parlors. C2 districts permit a
slightly wider range of uses, such as funeral homes and repair services. In mixed buildings, commercial uses are
limited to one or two floors and must always be located below the residential use.
When commercial overlays are mapped in R1 through R5 districts, the maximum commercial floor area ratio
(FAR) is 1.0; when mapped in R6 through R10 districts, the maximum commercial FAR is 2.0. Commercial
buildings are subject to commercial bulk rules.
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 29
C1-3
Overlay districts differ from other commercial districts in that residential bulk is governed by the residence district
within which the overlay is mapped. All other commercial districts that permit residential use are assigned a
specific residential district equivalent. Unless otherwise indicated on the zoning maps, the depth of overlay
districts ranges from 100 to 200 feet.
Generally, the lower the numerical suffix, the more off-street parking is required. For example, in C1-1 districts,
typically mapped in outlying areas of the city, a large food store would require one parking space for every 100
square feet of floor area, whereas no parking is required in C1-5 districts, which are well served by mass transit.
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 30
The information contained in this listing (“Listing”) is confidential, furnished solely for the purpose of review by a prospective
purchaser of the following property: 99 & 101 Graham Avenue, Brooklyn, NY 11206 and is not to be used for any other purpose
or made available to any other person without the express written consent of Besen & Associates, Inc. or Owner. The material is
based in part upon information supplied by the Owner and in part upon information obtained by Besen & Associates from
sources it deems reliable. Summaries of documents are not intended to be comprehensive or all inclusive, but rather only an
outline of some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Owner,
Besen & Associates or any of their respective affiliates, as to the accuracy or completeness of the information contained herein
or as to engineering or environmental matters. Prospective purchasers should make their own projections and conclusions
without reliance upon the materials contained herein and conduct their own independent due diligence, including inspections.
This Listing contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the
information a prospective purchaser may desire. Graphics are only a representation of property features, are not to scale and are
subject to change. All financial projections are provided for general reference purposes only and are based on assumptions
relating to the general economy, competition and other factors beyond control and are, therefore, subject to material change or
variation. An opportunity to inspect the Property will be made available to qualified prospective purchasers.
In this Listing, certain documents, including leases and other materials, are described in summary form. The summaries do not
purport to be complete or necessarily accurate descriptions of the full agreements involved, nor do they constitute a legal
analysis of such documents. Interested parties are expected to independently review all documents. This Listing is subject to
prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation,
endorsement or advice as to the value of the Property by Besen & Associates or Owner. Each prospective purchaser is to rely
upon its own evaluation as to the advisability of purchasing the Property described herein.
Owner and Besen & Associates expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or
offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Owner shall
have no legal commitment or obligation to any purchaser reviewing this Listing or making an offer to purchase the Property
unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by Owner and any
conditions to Owner’s obligations there under have been satisfied or waived. Besen & Associates is not authorized to make any
representations or agreements on behalf of Owner.
This Listing is the property of Besen & Associates and may be used only by parties approved by Besen & Associates and Owner.
The Property is privately offered and, by accepting this Listing, the party in possession hereof agrees (i) to return it to Besen &
Associates immediately upon request of Besen & Associates or Owner and (ii) that this Listing and its contents are of a
confidential nature and will be held and treated in the strictest confidence. No portion of this Listing may be copied or otherwise
reproduced or disclosed to anyone without the prior written authorization of Besen & Associates and Owner. The terms set forth
above apply to this Listing in its entirety.
CONFIDENTIALITY & DISCLAIMER
99 & 101 Graham Avenue, Brooklyn, NY 11206 | 31
Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any
implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal
without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. Rendering
pictured in offering materials is not specifically approved for referenced development site. Buildable square footage is subject to verification by purchaser’s own
architect and/or zoning attorney.
BESEN
INVESTMENT
SALES TEAM
Niko Berdzeni
Director
(212) 292-0070
Ronald H. Cohen
Chief Sales Officer
(646) 424-5317
Michael Besen
President & CEO
(212) 689-8488
Paul J. Nigido
Senior Financial Analyst
(646) 424-5350
Besen & Associates
381 Park Avenue South
New York, NY 10016
Tel: 212.689-8488
Fax: 212.689-9518
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