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141 East 45th Street, N.Y.C.
(Between Lexington and Third Avenue)
- FOR SALE - USER OPPORTUNITY
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Four-story brownstone building, first, second floor and cellar, restaurant/karaoke club
3rd and 4th floor two (2) commercial units. Heated by gas (self-contained). Renovated in 1997.
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20 x 100 - Ground & 2nd Floors built 90'; balance built 55'.
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$2,500,000. with interest at 5.625% and amortization at 1%; total monthly payments of $13,802.08.
Due in five (5) years 2009. Assignment permitted with payment of 1% to the bank.
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Store Ground Level/Cellar &
2nd Floor (Built full 1,800 s.f.)
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$261,746
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Tax Escalation
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21,433
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3rd/4th Floors - Delivered Vacant,
1,000 sq. ft. ea. fl. Market Value
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100,000
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*Option - Owner will consent
Two (2) year lease-back
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Gross Income
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$383,179
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R. E. Taxes 2004/05
(A.V.%514,800)
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$59,718
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1st Mortgage (I & A)
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165,625
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Insurance
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7,199
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Wages & Cleaning
(Visiting Super)
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2400
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Pest Control
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648
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Garbage Removal
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800
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Repairs
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3,000
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Legal & Accounting
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3,500
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Light & Fuel (Con Edison)
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Paid by Tenants
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Water & Sewage
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Paid by Tenants
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Total Expenses
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$242,890
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| net operating income (F & C) |
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Sho Riki, store , one of N. Y.'s best known Japanese restaurants.
2nd floor karaoke bar & dining.
Riki spent over $1.5 mill. renovating both floors. Lease expiration 12/31/16.
Tenant pays 95% of real estate tax increases, 100% of water & sewerage; store
rent increase of 4% each June 1, $151,913; 2nd fl. rent $103,833. increase of 4% each Jan. 1st.
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| 2. |
Commercial/Residential user opportunity, 3rd & 4th floor duplex, possession 12/04.
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| 3. |
No development rights available.
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$5,000,000. - $2,500,000. cash above the first mortgage.
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