C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M

M A R K E T I N G T E A M
Thomas Shihadeh
Associate Associate
270 MADISON AVENUE
Tel: 718.475.4380
Fax: 646-349-2282
Tshihadeh@marcusmillichap.com
Shaun Riney
Vice President of Investments
16 COURT STREET
Tel: (718) 475-4369
Fax: (646) 349-2282 shaun.riney@mmreis.com
Dan Greenblatt
16 COURT STREET
Tel: (718) 475-4357
Fax: (718) 475-4310 daniel.greenblatt@marcusmillichap.com
Andrew Dansker, Financing Inquiries
Licensed Sales Associate
270 MADISON AVENUE
Tel: 212-430-5168
Fax: 212-500-5110 adansker@marcusmillichap.com

+
970 Greene Ave

9 7 0 G r e e n e A v e
Pricing + Financial Analysis
Rent Roll
RESIDENTIAL
2B
3A
3B
4A
4B
UNIT#
1A
1B
2A
LEASE STATUS
FM
FM
FM
FM
FM
FM
FM
FM
Monthly Residential Revenue
Annual Residential Revenue
NOTES
Section 8
Program
BEDROOMS
3 Bedroom
3 Bedroom
3 Bedroom
3 Bedroom
3 Bedroom
3 Bedroom
4 Bedroom
1 Bedroom
23
ROOMS
5
5
5
5
6
5
5
3
39
EXPIRATION
MTM
MTM
MTM
MTM
MTM
MTM
MTM
Feb-16
Total Annual Revenue
There are 0
The super lives off site
Vacant units currently in the building
ACTUAL
$1,500
$1,500
$1,800
$1,400
$1,800
$1,500
$1,850
$1,900
$13,250
$159,000
PRO FORMA
$2,550
$2,550
$2,550
$2,550
$2,550
$2,550
$2,550
$2,550
$20,400
$244,800
$159,000 $244,800
$/PSF
$36
$36
$36
$36
$36
$36
$36
$36
* DHCR order substantiating free-market status through substantial rehabilitation to be provided. Please see listing agent for copy.
** Pro forma rents are based on minor cosmetic upgrades, please contact listing agent to discuss current layouts and condition of apartments. Kitchens and bathrooms in the middle of each unit.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2015 Marcus
& Millichap
Activity ID Number

9 7 0 G r e e n e A v e
Pricing + Financial Analysis
Building Size (SF)
Number of Units
8,115
8
Commercial Units
Residential Units
INCOME
Gross Potential Income
Gross Potential Residential Rent
Gross Potential Commercial Rent
Vacancy / Collection Loss
Other Income
Effective Gross Income
Average Residential Rent/Month/Unit
EXPENSES
Property Taxes
Fuel
Insurance
Water and Sew er
Repairs and Maintenance
Common Electric (PSF)
Super Salary
Management Fee
Tax Class: 2B
Total Expenses
Net Operating Incom e
ACTUAL
$159,000
$0
($4,770)
$0
$154,230
$1,656
%EGI
100.00%
0%
3%
$/Unit / $/SF
$19,875
$0
($596)
$0
$19,279
PRO FORMA
%EGI
$244,800 100.00%
$0 0%
($7,344) 3%
$0
$237,456
$2,550
$6,595
$0
$4,000
$7,200
$4,000
$2,029
$2,400
$6,169
$32,393
$121,837
4%
0%
3%
5%
3%
1%
2%
4%
21%
$824
$0
$500
$900
$500
$0
$300
$771
$4,049
$6,595
$0
$4,000
$7,200
$4,000
$2,029
$2,400
$9,498
$35,722
$201,734
3%
0%
2%
3%
2%
1%
1%
4%
15%
$/Unit / $/SF
$30,600
$0
($918)
$0
$29,682
$824
$0
$500
$900
$500
$0
$300
$1,187
$4,465
* Property de-stabilized through substantial rehabilitation. DHCR order in place.
** Each tenant has separate boiler and is responsible for heat and hot water.
0
8
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2015 Marcus
& Millichap
Activity ID Number

9 7 0 G r e e n e A v e
Pricing + Financial Analysis
INCOME
Gross Potential Residential Rent
Gross Potential Commercial Rent
Vacancy / Collection Loss
Other Income
Effective Gross Incom e
EXPENSES
Property Taxes
Fuel
Insurance
Water and Sew er
Repairs and Maintenance
Common Electric (PSF)
Super Salary
Management Fee
Elevator Contract
Legal & Miscellaneous
SCRIE
Other
Total Expenses
Net Operating Incom e
Separate Boilers
PROPOSED DEBT ANALYSIS
Debt Service
Debt Coverage Ratio
Net Cash Flow After Debt Service
Cash on Cash Return
EXPENSES BY TYPE
CURRENT PRO FORMA
$159,000 $244,800
$0
($4,770)
$0
$154,230
$0
($7,344)
$0
$237,456
$6,595
$0
$4,000
$7,200
$4,000
$2,029
$2,400
$6,169
$0
$0
$0
$0
$32,393
$121,837
N/A
N/A
N/A
N/A
$6,595
$0
$4,000
$7,200
$4,000
$2,029
$2,400
$9,498
$0
$0
$0
$0
$35,722
$201,734
8%
6%
19%
12%
21%
22%
0%
12%
Property Taxes
Fuel
Insurance
Water and Sewer
Repairs and Maintenance
Common Electric (PSF)
Super Salary
Management Fee
Elevator Contract
Legal & Miscellaneous
SCRIE
Other
PRICING METRICS
OFFERING PRICE
Num ber of Units
Price/Unit
Gross Square Feet
Price / SF
Current Cap Rate
Current GRM
Pro Form a Cap Rate
Pro Form a GRM
Pro Form a Cash On Cash Return
PROPOSED FINANCING*
Loan Amount
Interest Rate
Amortization
Annual Debt Service
$3,075,000
8
$384,375
8,115
$379
4.0%
19.9
6.56%
12.6
N/A
$0
0.00%
0
N/A
SCHEDULE OF INCOME
Unit Breakdown
Total RS Units
Total
0
Total RC Units
Total FM Units
Total Commercial
Total Units
0
8
0
8
%
0%
0%
100%
0%
100%
GROSS POTENTIAL INCOME BY TYPE
Rent
$0
$0
$13,250
$0
$13,250
Resi.
100%
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2015 Marcus
& Millichap
Activity ID Number

970 Greene Ave

9 7 0 G r e e n e A v e
Property Description
Address:
City:
State:
Block & Lot:
Lot Dimensions:
Lot SF:
Building Dimensions:
Building SF:
Zoning:
Max FAR:
Available Air Rights:
Landmark District:
Historic District:
Annual Tax Bill:
Tax Class:
R6B i
2.00
i
5,812 i
None i
None i
$6,595 i
2B i
970 Greene Ave i
Brooklyn i
New York
1622 / 28 i
26.42 ft. x 110 ft.
i
2,906 i
26.42ft. x 80ft.
i i 8,115

9 7 0 G r e e n e A v e
Property Description

9 7 0 G r e e n e A v e
Property Description

9 7 0 G r e e n e A v e
Property Description

9 7 0 G r e e n e A v e
Property Description

9 7 0 G r e e n e A v e
Property Description

970 Greene Ave

9 7 0 G r e e n e A v e
Market Overview
OVERVIEW
The borough we know today as “Brooklyn” was named by
Dutch colonists after a village in the Netherlands called
“Breuckelen.” Brooklyn is home to over 2.6 million residents who are part of a much larger population system;
New York City consists of five boroughs with about 8.4 million people. Brooklyn, also goes by the name Kings County and the “Borough of Homes and Churches.” Brooklyn is the 7th most populous county in the United States behind such major cities as Los Angeles and San Diego. While physically located on the island, Brooklyn is not considered a part of Long Island.
TRANSPORTATION
About 66 percent of Brooklyn's population take public transit to get to and from work daily. They spend an average of 43 minutes traveling to work.
•
45% take the subway to work
• 22% drive to work
• 10% take the bus
•
9% walk to work
•
8% carpool
•
2% work at home
Public transportation is easily accessible with the subway and bus systems. The vast majority of current subway lines in
Brooklyn trace their lineage back to the Brooklyn
–Manhattan
Transit (BMT) and Brooklyn Rapid Transit (BRT). Subway lines include but are not limited to:
D, N, R, F, A, C, B, Q, 2, 3, L, G, S,
J, M, Z, 4, 5

9 7 0 G r e e n e A v e
Market Overview
ARTS & CULTURE
Brooklyn has played a major role in various aspects of
American culture including literature, cinema and theater.
Brooklyn hosts the world-renowned Brooklyn Academy of
Music, the Brooklyn Philharmonic, and the second largest public art collection in the United States, housed in the
Brooklyn Museum. Brooklyn has roughly 700 arts and cultural institutions and about 30 miles of waterfront.
DEMOGRAPHICS
The median age of a Brooklyn resident is 34.7 years. 38 percent of Brooklyn's population are foreign born. Families make up 64 percent of Brooklyn households. In 2006, the U.S.
Census Bureau calculates Brooklyn's population at 2,508,820.
Brooklyn is also made up of some of New York's prominent
Universities and Colleges. Some of the more popular and well respected include:
• Brooklyn College
• Polytechnic Institute
• Packer Collegiate Institute
• St.
Joseph’s College
• St. Francis College
• Brooklyn Law School.
•
2,230,722 in Queens
• 1,585,873 in Manhattan
• 1,385,108 in The Bronx
• 468,730 in Staten Island
7.1% (7.5%) are under the age of 5 years 23.7% (25.1%) are under the age of 18 11.5% (12.3%) are age 65 or older The median age of females in Brooklyn is 35.7 (36.5) years old. For males, it's 32.4 (32.7) years.

9 7 0 G r e e n e A v e
Market Overview
NEIGHBORHOODS
Brooklyn is an international brand, cultural hub, culinary capital, and real estate juggernaut. Its streets are full of diversity, interesting people, and things to do. For more New York City arrivals than ever, for long-time New Yorkers looking for an easier life, for first-time homeowners and long-term renters, it has become the first choice of where to live and where to lay down their roots.
Neighborhoods are why.
“Brownstone Brooklyn” contains row after row of magnificent homes. Downtown has become a perfect mixed-use neighborhood, containing a vibrant mélange of residential lofts, top retail, and commercial creativity. Williamsburg has emerged as one of the best neighborhoods for adults and families in the world.
Don’t forget the charm. Park Slope rivals the West Village and Upper West Side for New Yorkers seeking good schools and park-front living. Brooklyn Heights,
Fort Greene and Clinton Hill are blessed by some of the most beautiful urban streets anywhere. Manhattan Beach offers coastal living in a neighborhood lined with trees.
There are breathtaking mansions in Prospect Lefferts Gardens, Midwood, and
Ditmas Park. Prospect Heights has an arch like Paris and edifices that resemble life on
Europe’s grandest boulevards.
The only way to truly understand Brooklyn is to walk its streets, see its homes, meet its people, and understand its ebb and flow. Never before, has looking for a home in Brooklyn been this exciting. One of the best places to start is here.

M A R K E T I N G T E A M
Tom Shihadeh
270 MADISON AVENUE
Tel: 718.475.4380
Fax:646-349-2282 tshihadeh@marcusmillichap.com
Shaun Riney
Vice President of Investments
16 COURT STREET
Tel: (718) 475-4369
Fax: (646) 349-2282 shaun.riney@mmreis.com
Dan Greenblatt
16 COURT STREET
Tel: (718) 475-4357
Fax: (718) 475-4310 daniel.greenblatt@marcusmillichap.com
Andrew Dansker, Financing Inquiries
Licensed Sales Associate
270 MADISON AVENUE
Tel: 212-430-5168
Fax: 212-500-5110 adansker@marcusmillichap.com