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Goldenwood Property Advisors has been retained on an exclusive basis to arrange for the sale of 30-75 Steinway Street in Astoria. The subject property is a 4,600SF, 3-Story Bank + Office Building, containing a total of approximately 4,600 above grade SF. 30-75 Steinway Street is located on the east side of Steinway Street between 30th Avenue and 31st Avenue. This property offers 23 feet of frontage on Steinway Street. 30-75 Steinway Street is 100% occupied by Atlantic Bank, a Division of New York Commercial Bank, a publicly traded company on the New York Stock Exchange under the symbol “NYCB”, until August 31, 2021 with two (2) five-year options; bringing the lease out to October 31, 2032. The tenant is responsible for all utilities, 100% of taxes and insurance. The tenant has been in place since 2001. New York Community Bank recently completed a full gut renovation of the entire building in Spring 2015. This a true NNN lease. The current Annual Rent is $159,720 (or $13,310/month). 30-75 Steinway Street is an excellent opportunity for an investor to own a prime, management-free, property on one of Astoria's most desirable streets. Location Block / Lot Lot Size Lot SF Building Size 1st Floor Dimensions 2nd Floor Dimensions 3rd Floor Dimensions # of Stories Building SF Zone Available Air Rights Assessment (17/18) RE Taxes (17/18) Between 30th Ave & 31st Ave 680/15 23’ x 90’ (appx) 2,070 sq. ft (appx) 23’ x90’ (appx) 23’ x 90’ 23’ x 55’ 23’ x 55’ 3 + Cellar 4,600 sq. ft. (appx) C4-2A 1,610 sq. ft. $570,960 $60,373 (100% Paid by Tenant) The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. Available at: $4,900,000 3.25% Current Cap Rate | $1,065/SF STATUS PPSF LEASE TERM MONTHLY INCOME ANNUAL INCOME Current Term $34.72 9.1.16 - 8.31.21 $13,310.00 $159,720.00 1st Option $39.93 9.1.21 - 8.31.26 $15,306.50 $183,678.00 2nd Option $45.92 11.1.27 - 10.31.32 $17,602.48 $211,229.76 Landlord Expenses: Total Expenses $0.00 Current Net Operating Income $159,720 Goldenwood Property Advisors MANHATTAN: 54 W. 40 th Street, New York NY 10018 | QUEENS: 35-37 36 th Street, Long Island City, NY 11106 www.Goldenwood.NYC FOR SALE: NNN BANK + OFFICE BUILDING | TENANT: ATLANTIC BANK (NYCB) 30-75 STEINWAY STREET, ASTORIA NY 11103 Contact Exclusive Broker: Rubin S. Isak, President Office: (212) 658-0985 | Email: [email protected] The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. Goldenwood Property Advisors 349 Fifth Avenue, 7th Floor, New York New York 10016 212-658-0985 | [email protected] | www.Goldenwood.nyc
