AREA NEW YORK PROUDLY PRESENTS - PowerPoint Presentation

AREA NEW YORK PROUDLY PRESENTS “THE WARDS” 1111-1113 & 1064-1068 WARD AVENUE BRONX, NY 10472

THE WARDS FINANCIAL OVERVIEW - THE WARDS FINANCIAL Residential Income $1,582,481 Commercial Income $339,636 Gross Income $1,922,117 Total Expenses $812,211Net Operating Income$1,109,906BUILDING SUMMARYTotal # of Apartments104Total # of Rooms333Average Rent/Apartment/Month$1,510Average Rent/Room/Month$470PRICINGPrice$19,500,000Price per unit$187,500Price per Sqft.$203Cap Rate6%GRM10.15 INFORMATION AT A GLANCE AREA New York is proud to present “The WARDS”. The wards feature 104 apartments and 10 stores split between two buildings. They are located across from each other adjacently on the corner of Ward and Watson Avenue. 1064-68 Ward avenue is comprised of 54 apartments, 6 stores, and has 52,815 sqft and 1111-13 Ward Avenue has 50 apartments, 4 stores and 43,200 sqft. The Wards present a tremendous upside value to any potential investor! The Properties are located in Soundview, a working class neighborhood section of the Bronx. Soundview's distinguishing features are low-rise, semi-detached rowhouses. Soundview also contains five and six-story tenement buildings. The 6 train is very close and located at Elder, Morrison and St. Lawrence Avenue. There is also quick highway access to the Brucker Expressway and the Bronx River Parkway. LOCATION

1111-1113 WARD AVENUE BUILDING SUMMARY BUILDING SUMMARY 1111-1113 WARD AVENUE INCOME   CURRENT PRO FORMA Gross Potential Residential Rent   $772,906 $907,980Gross Potential Commercial Rent  $169,167$169,167Gross Income  $942,072.64$1,077,147Average Residential Rent/Month/Unit  $1,186.35$1,397.48        EXPENSES    Poperty Taxes $123,973$123,973Fuel - Oil  $85,000$85,000Insurance  $34,010$34,010 Water and Sewer  $51,000 $51,000Repairs and Maintenance   $25,000 $25,000 Common Electric   $7,500 $7,500 Super Salary  $28,600$28,600Total Expenses  $355,083$355,083Net Operating Income  $557,637$694,453            LEASE STATUS ANALYSIS   UNIT BREAKDOWN% OF TOTALTOTALAVG. RENTTotal Units 54$1,408Total RS Units93%50$1,280Total RC Units0%0$0Total FM Units0%0$0Total Commercial 7%4$3,000        UNIT TYPE ANALYSIS   TYPE% OF TOTALTOTAL AVG. RENTSTUDIO10%5$9281 BEDROOM 64%32$1,2412 BEDROOM 20%10$1,2983 BEDROOM 6%3$1,319 J51 TAX ABATEMENT & MCI APPLICATION SUBMITTED FOR ELECTRICAL

1111 WARD AVENUE | RESIDENTIAL RENT ROLL UNIT # LEASE STATUS BEDROOMS ROOMS BATH ACTUAL LEGAL RENT LEASE EXPIRATION 1A RS1 Bedroom31$1,560.00$1,983.614/30/20192ARS2 Bedroom41$1,600.00$2,058.003/31/20202BRS1 Bedroom31$887.31$887.311/20/20212CRS1 Bedroom31$1,224.00$1,224.007/31/20192DRS1 Bedroom31$1,208.90$1,208.904/30/20202ERS3 bedroom41$1,564.22$1,564.221/7/20212FRS1 Bedroom 3 1$744.15 $744.159/30/2019 3ARS 2 Bedroom 4 1 $1,650.00 $2,516.56 9/30/2019 3BRS1 Bedroom31$1,016.20$1,016.209/30/20193CRS1 Bedroom31$1,581.00$1,661.972/28/20193DRS1 Bedroom31$1,300.00$1,481.232/28/20213ERS2 Bedroom41$567.85$567.8511/30/20203FRS1 Bedroom31$790.49$790.495/31/20194ARS2 Bedroom41$1,691.43$1,691.433/31/20204BRS1 Bedroom31$1,250.00$2,402.695/31/20194CRS1 Bedroom31$1,125.00$1,550.062/28/20194EDRS3 bedroom52$1,159.24$1,159.241/31/20214FRS1 Bedroom31$984.40$984.405/31/20205ARS2 Bedroom41$1,600.00$1,820.709/30/20195BRS1 Bedroom31$1,140.00$1,320.921/31/20205CRS1 Bedroom31$1,500.00$1,968.491/31/20205DRS1 Bedroom31$955.00$1,471.90 11/30/2020 5E RS 2 Bedroom 4 1 $1,065.65 $1,065.65 8/31/2020 5F RS 1 Bedroom 3 1 $1,225.00 $1,539.51 9/30/2019

1113 WARD AVENUE | RESIDENTIAL RENT ROLL UNIT # LEASE STATUS BEDROOMS ROOMS BATH ACTUAL LEGAL RENT LEASE EXPIRATION 1B RS1 Bedroom 31$1,420.27$1,420.278/31/20201CRS2 Bedroom41$1,650.00$1,791.865/31/20191DRSStudio21$1,514.00$1,968.703/31/20191ERS1 Bedroom31$1,210.00$1,298.575/31/20191FRS1 Bedroom31$1,080.60$1,080.604/30/20202GRS1 Bedroom31$1,198.97$1,243.356/30/20192HRS3 bedroom51$1,836.00 $2,067.84 5/31/20202I RSStudio 21 $1,514.00 $2,105.17 4/14/2019 2J RS 1 Bedroom 31$1,550.00$1,791.372/28/20192KRS1 Bedroom31$1,340.00$1,884.805/31/20203GRS1 Bedroom31$1,300.00$2,076.161/31/20213HRS2 Bedroom41$1,550.00$2,067.961/31/20193IRSStudio21$1,100.00$1,788.982/28/20193JRS1 Bedroom31$1,175.00$1,385.872/28/20193KRS1 Bedroom31$1,404.00$1,672.516/30/20194GRS1 Bedroom31$1,500.00$1,638.683/31/20204HRS2 Bedroom41$987.89$987.8911/30/20194IRSStudio21$1,500.00$1,509.341/30/20204JRS1 Bedroom31$1,415.00$1,920.449/30/20194KRS1 Bedroom31$1,455.00$1,518.754/14/20205GRS1 Bedroom31$1,202.30$1,202.308/31/20205HRS2 Bedroom41$708.63$737.133/17/20175IRS Studio 2 1 $1,160.00 $1,348.44 4/30/2019 5J RS 1 Bedroom 3 1 $1,372.30 $1,382.47 10/31/2019 5K RS 1 Bedroom 3 1 $1,500.00 $1,500.00 8/31/2019 BSMT RS 1 Bedroom 3 1 $1,300.00 $1,612.82 5/31/2019 MONTHLY RESIDENTIAL REVENUE 160 26 $64,408.80 $75,665.03   ANNUAL RESIDENTIAL REVENUE     $772,905.60 $907,980.36  

1111-1113 WARD AVENUE | COMMERCIAL RENT ROLL STR1 $3,148 10/31/2020 STR2 $4,497 12/31/2024 STR3 $3,000 1/30/2024 STR3A$1,6504/30/2024STR3B$1,8004/30/2024STR4$1,35210/31/2020MONTHLY COMMERCIAL REVENUE$14,097.22ANNUAL COMMERCIAL REVENUE$169,166.64

NEW DUAL FUEL BOILER INSTALLED: 2019 ENTIRE ELECTRICAL SYSTEM UPDATED 2018

1064-1068 WARD AVENUE BUILDING SUMMARY SIX COMMERCIAL UNITS BUILDING SUMMARY 1111-1113 WARD AVENUE INCOME   CURRENT PRO FORMA Gross Potential Residential Rent   $809,575$820,527Gross Potential Commercial Rent  $170,469$170,469Gross Income  $980,044$990,996Average Residential Rent/Month/Unit  $1,245$1,265        EXPENSES    Poperty Taxes $192,952$192,952Fuel - Oil  $100,000$100,000Insurance  $38,176 $38,176Water and Sewer  $55,000 $55,000 Repairs and Mantenance   $27,000 $27,000 Common Electric   $5,400$5,400Super Salary  $28,600$28,600Total Expenses  $447,128$447,128Net Operating Income  $524,101$536,222            LEASE STATUS ANALYSIS   UNIT BREAKDOWN% OF TOTALTOTALAVG. RENTTotal Units 60$1,322Total RS Units94%54$1,245Total Commercial 6%6$2,017        UNIT TYPE ANALYSIS   TYPE% OF TOTALTOTAL AVG. RENTSTUDIO17%9$1,2261 BEDROOM 54%25$1,1692 BEDROOM 26%17$30643 BEDROOM 3%2$1,324

1064 WARD AVENUE | RESIDENTIAL RENT UNIT # LEASE STATUS BEDROOMS ROOMS BATH ACTUAL LEGAL RENT LEASE EXPIRATION1A_2A RS3 Bedroom 51 $815.67$815.67 2/28/20213ARS1 Bedroom31$1,009.73 $1,029.92 8/31/20204ARSStudio21$1,475.00 $1,572.57 8/31/20195ARS3 Bedroom51$1,851.86 $1,865.58 12/31/20196ARS2 Bedroom41$689.04 $689.04 2/29/20201BRS1 Bedroom31$950.44 $950.44 8/31/20182BRS1 Bedroom31$908.95 $908.95 4/30/2020 3B RS1 Bedroom 31 $838.67 $838.67 3/31/2020 4B RS Studio 2 1 $1,100.46 $1,100.46 5/31/20195BRS2 Bedroom41$1,625.55 $1,625.55 8/31/20196BRS2 Bedroom41$1,522.77 $1,522.77 7/31/20191CRS1 Bedroom31$1,260.94 $1,260.94 8/31/20162CRS2 Bedroom41$1,600.00 $1,610.06 7/31/20193CRS1 Bedroom31$1,344.72 $1,344.72 3/14/20204CRSStudio21$1,115.54$1,115.54 2/28/20205CRS2 Bedroom41$813.47 $813.47 1/31/20206CRS2 Bedroom41$814.62$814.62 2/28/20211DRS1 Bedroom31$1,283.77$1,388.57 9/30/20202DRS1 Bedroom31$905.40 $905.40 10/31/20193DRS1 Bedroom31$923.71 $923.71 5/31/20194DRSStudio21$1,170.43 $1,170.43 8/14/20205DRS2 Bedroom41$885.55$885.55 2/28/20216DRS2 Bedroom4 1$1,665.68 $1,665.68 11/30/2019 1E RS 2 Bedroom 4 1 $1,600.00 $1,905.66 8/31/2019 2E RS 1 Bedroom 3 1 $1,176.17 $1,176.71 4/30/2021 3E RS 2 Bedroom 4 1 $1,700.00 $1,786.45 8/31/2020 4E RS Studio 2 1 $1,222.98 $1,222.98 2/28/2019 5E RS 2 Bedroom 4 1 $1,047.52 $1,047.52 3/31/2020 6E RS 2 Bedroom 4 1 $1,605.80 $1,605.80 11/30/2019 BSMT RS 2 Bedroom 4 1 $1,144.07 $1,144.07 4/30/2019

1068 WARD AVENUE | RESIDENTIAL RENT UNIT # LEASE STATUS BEDROOMS ROOMS BATH ACTUAL LEGAL RENT LEASE EXPIRATION1A RS1 Bedroom 31 $1,228.16$1,228.165/31/20192ARS2 Bedroom41$1,504.66$1,504.664/30/20203ARSStudio21$1,450.00$1,572.574/30/20194ARSStudio21$1,152.86$1,152.867/31/20205ARS1 Bedroom31$1,360.37$1,360.3710/31/20196ARS1 Bedroom31$1,263.55$1,263.555/14/20201BRS1 Bedroom31$1,200.07$1,200.07 5/31/2019 2BRS2 Bedroom 41 $1,418.50 $1,418.50 1/31/2020 3B RS Studio 2 1$1,103.70$1,103.706/14/20194BRS1 Bedroom31$1,177.09$1,177.092/29/20205BRS1 Bedroom31$1,265.63$1,323.286/30/20196BRS1 Bedroom31$1,354.93$1,354.9311/30/20191CRS1 Bedroom31$1,188.73$1,188.7310/14/20202CRS2 Bedroom41$1,640.00$1,734.001/31/20193CRSStudio21$1,262.01$1,262.0111/30/20194CRS1 Bedroom31$1,225.13$1,225.137/31/20195CRS1 Bedroom31$1,227.66$1,227.666/30/20196CRS1 Bedroom31$1,286.77$1,286.777/14/20191DRS1 Bedroom31$1,208.00$1,208.002/28/20202DRS2 Bedroom41$1,723.83$1,723.831/31/20203DRSStudio21$1,400.00$1,400.009/30/20194DRS1 Bedroom31$1,158.53$1,158.539/30/20195DRS1 Bedroom 31 $1,333.16 $1,333.16 8/31/2020 6D RS 1 Bedroom 3 1 $1,262.76 $1,262.76 1/31/2019 MONTHLY RESIDENTIAL REVENUE 173 24 $67,464.61 $68,377.28   ANNUAL RESIDENTIAL REVENUE     $809,575.32 $820,527.36  

1064-11068 WARD AVENUE | COMMERCIAL RENT ROLL UNIT # RENT LEASE EXPIRATION 1560 $3,355 8/31/2025 1562 $3,090 6/30/2027 1562-A$1,47612/31/20211564$2,1117/31/20221566$2,0749/30/20201566-A$2,1005/14/2020 MONTHLY COMMERCIAL REVENUE $14,205.77 ANNUAL COMMERCIAL REVENUE $170,469.24

UPSIDE POTENTIAL 1111-1113 WARD AVENUE UNIT TYPE # OF UNITS % OF TOTAL TOTAL MONTHLY RENT AVERAGE MONTHLY RENT MARKET RENT % UPSIDE POTENTIALSTUDIO 14 10%$4,644$928$1,80064%1 Bedroom6164%$39,735$1,241$1,50819%2 BEDROOM2420%$12,980$1,298$1,98842%3 BEDROOM56%$4,560$1,319$2,41359%1 BEDROOMSADDRESSMONTHLY RENT1240 Morrison Avenue$1,3001250 Morrison Avenue$1,7001472 Watson Avenue$1,4001101 Fteley Avenue $1,6322 BEDROOMSADDRESSMONTHLY RENT1240 Morrison Avenue$2,150 1190 C.W. Avenue $2,0001101 Boynton Avenue $1,7001144 Manor Avenue $2,100 3 BEDROOMS ADDRESS MONTHLY RENT 1031 Elder Avenue $2,300 1034 Elder Avenue $2,3001032 Wheeler Avenue$2,8001130 Fteley Avenue$2,250STUDIOSADDRESSMONTHLY RENT2010 Brucker Avenue$1,5002013 Brucker Avenue$1,5001130 Fteley Avenue$2,2501146 Elder Avenue$2,100

Jamil Barrett (585) 479-0090 William “Chip” Sims (917) 334-6235 Please feel free to reach out with any questions you may have, we look forward to hearing from you!