719-729 S E A G I R T B O U L E V A R D 801-815 S E A G I R T B O U L E V A R D 610-618 S E A G I R T A V E N U E 701-713 S E A G I R T A V E N U E F A R R O C K A W A Y, N Y 1 1 6 9 1 W A T E R F R O N T D E V E L O P M E N T S I T E F O R S A L E
2 CONFIDENTIALITY & CONDITIONS This is a confidential brochure intended solely for your limited use and benefit in determining whether you desire to express any further interest in the purchase of 719-729 & 801-815 Boulevard & 610-618 & 710-713 Avenue Far Rockaway, NY 11691 (the Property ). This brochure was prepared by Massey Knakal Realty Services, ( Massey Knakal ) and has been reviewed by representatives of Ownership. It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information which prospective purchasers may desire. It should be noted that all financial projections are provided for general reference purposes only in that they are based on assumptions relating to the general economy, competition, and other factors beyond the control of Massey Knakal or Owner and, therefore, are subject to material variation. Additional information and an opportunity to inspect the Property and plans will be made available to interested and qualified investors. Neither Owner, Massey Knakal nor any of their respective officers nor employees, have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this brochure or any of its contents, and no legal commitments or obligations shall arise by reason of this brochure or any of its contents. All square footage measurements must be independently verified. Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligation to any entity reviewing this brochure or making an offer to purchase the Property unless and until a written agreement satisfactory to Owner has been fully executed, delivered, and approved by Owner and any conditions to Owner obligations thereunder have been satisfied or waived. By receipt of this brochure, you agree that this brochure and its contents are of a confidential nature, that you hold and treat it in the strictest confidence, and that you will not disclose this brochure or any of its contents to any other entity without the prior written authorization of Owner nor will you use this brochure or any of its contents in any fashion or manner detrimental to the interest of Owner or Massey Knakal. It is essential that all parties to real estate transactions be aware of the health, liability and economic impact of environmental factors on real estate. Massey Knakal does not conduct investigations or analysis of environmental matters and, accordingly, urges its clients to retain qualified environmental professionals to determine whether hazardous or toxic wastes or substances (such as asbestos, PCB s and other contaminants or petrochemical products stored in underground tanks) or other undesirable materials or conditions, are present at the Property and, if so, whether any health danger or other liability exists. Such substances may have been used in the construction or operation of buildings or may be present as a result of previous activities at the Property. Various laws and regulations have been enacted at the federal, state and local levels dealing with the use, storage, handling, removal, transport and disposal of toxic or hazardous wastes and substances. Depending upon past, current and proposed uses of the Property, it may be prudent to retain an environmental expert to conduct a site investigation and/or building inspection. If such substances exist or are contemplated to be used at the Property, special governmental approvals or permits may be required. In addition, the cost of removal and disposal of such materials may be substantial. Consequently, legal counsel and technical experts should be consulted where these substances are or may be present. While this brochure contains physical description information, there are no references to condition. Neither Owner nor Massey Knakal make any representation as to the physical condition of the Property. Prospective purchasers should conduct their own independent engineering report to verify property condition. In this brochure, certain documents, including leases and other materials, are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of the provisions of the documents. Interested parties are expected to review independently all relevant documents. The terms and conditions stated in this section will relate to all of the sections of the brochure as if stated independently therein. If, after reviewing this brochure, you have no further interest in purchasing the Property at this time, kindly return this brochure to Massey Knakal at your earliest possible convenience. Photocopying or other duplication is not authorized. This brochure shall not be deemed an indication of the state of affairs of Owner, nor constitute an indication that there has been no change in the business or affairs of Owner since the date of preparation of this brochure. All zoning information, including but not limited to, use and buildable footage must be independently verified.
Far Rockaway, NY 11691 Waterfront Develpment Site for Sale ) ( ' ) &( %' & %% $ % # )) + + -- + +,, )) + + ** "!! // + +.. + + )) " ((.. $ $ 22 11 )) 55 )) + + ''.. 44 )) -- + + --.... )) // 33 $ $ --..,, 66 --.. 11 Massey Knakal has been exclusively retained to arrange the sale of a large residential development site, consisting of 10 contiguous lots totaling approximately 107,017 SF. Located at the juncture of Boulevard, Avenue, and Beach 9th Street in Far Rockaway, NY, the entire site lies in an R4-1 zoning district, allowing for a residential development potential of approx. 96,315 SF. The site features approximately 637 of frontage on Boulevard, 39 of frontage on Beach 9th Street and 648 of frontage on Avenue. This site presents an excellent opportunity for a unique residential waterfront development. ASKING PRICE: $2,5,0 LOCATION: Intersection of Boulevard, Avenue, and Beach 9th Street BLOCK: 15605 15605 15605 15605 15605 15605 15605 15605 15604 15604 TOTAL LOT: 352 350 340 330 405 404 425 402 401 293 N/A LOT DIMENSIONS: 88' x 74' 95' x 115' 95' x 152 55' x 152' 101' x 157' 50' x 24' 51' x 35' 51' x 48' 101' x 217' 1' x 325' 636.6' x 647' LOT AREA: 4,2 8,317 11,675 11,2 15,375 1,2 1,5 2,050 28,0 23,5 107,017 ACRES: 0.10 0.19 0.27 0.26 0.35 0.03 0.03 0.05 0.64 0.54 2.46 ZONING: R4-1 R4-1 R4-1 R4-1 R4-1 R4-1 R4-1 R4-1 R4-1 R4-1 R4-1 FAR: 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 BUILDABLE SF: 3,780 7,485 10,508 10,080 13,838 1,080 1,350 1,845 25,2 21,150 96,315 ASSESSMENT (13/14): $2,740 $5,210 $7,395 $7,129 $10,288 $994 $829 $1,231 $14,624 $7,678 $58,118 TAXES (13/14): $526 $1,0 $1,419 $1,368 $1,974 $191 $159 $236 $2,806 $1,473 $11,152 James Nelson Partner 212-696-25 x7710 jnelson@masseyknakal.com Thomas Donovan Partner 718-275-34 x2626 tdonovan@masseyknakal.com For further information or inspection please contact Exclusive Agent: Matthew Nickerson Senior Associate 212-660-7742 mnickerson@masseyknakal.com David Shalom Associate 212-660-7767 dshalom@masseyknakal.com Tommy Lin Director of Sales 718-275-34 x2609 tlin@masseyknakal.com 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 verifi ed. 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. 3 1 1 5 M A C D O U G A L S T R E E T $ # 7 ) % $ # 0, -
4 TAX MAPS Boulevard Boulevard Avenue Avenue Beach 9th Street Beach 9th Street
5 ZONING INFORMATION
6 ZONING INFORMATION New York City s zoning regulates permitted uses of the property; the size of the building allowed in relation to the size of the lot ( fl oor to area ratio ); required open space on the lot, the number of dwelling units permitted; the distance between the building and the street; the distance between the building and the lot line; and the amount of parking required. The commercial district has eight different classifi cations. The residential district has ten different classifi cations. The subject property is zoned R4-1 FAR: 0.9 Residential
7 TAXES
8 TAXES
9 TAXES
10 NEIGHBORHOOD DESCRIPTION Far Rockaway is a blend of inner-city and oceanfront commuter town. This ethnically diverse area was formerly populated by Eastern European Jewish and Irish immigrants, today it is a large African American population, and Downtown Far Rockaway has a large Central American population. The area is also home to a large and growing number of Haredi Jews, with a large network of yeshivas and Jewish communal needs. Most recently, the area is seeing renewed with beach house and waterfront redevelopment. The property lies within walking distance to the South Island Medical Hospital, Beach 9 Playground, Rockaway Beach and the Boardwalk. Rockaway Beach is a year-round attraction for residents all along the Rockaway peninsula, and it comes alive each summer with millions of visitors. Beach goers can enjoy the sand and water, the variety of concessions, and the city s only legal surfi ng beach, located between 67-69 Street and 87-92 Street. Rockaway Beach is also home to a variety of playgrounds and other outdoor activities. After Hurricane Sandy, more than $140 million was invested to repair and restore Rockaway Beach. As part of this work, intact sections of boardwalk were repaired, damaged beach buildings were renovated, public restrooms and lifeguard stations were installed to replace destroyed facilities, and interim shoreline protection and anti-erosion measures were created. Thanks to this work, more than 3 million people visited Rockaway Beach last summer. Today, work continues with the Rockaway community, NYC Economic Development Corporation (EDC) and US Army Corps of Engineers on a second phase of improvements providing more long-term protection for Rockaway, constructing a new boardwalk, and developing a conceptual plan for further improvements to the area s parks and facilities.
11 NEIGHBORHOOD DESCRIPTION The 27-acre, one-mile line Rockaway Park, located between Beach 9th and Beach 32nd Streets, just underwent a $30 million renovation. New attractions include two playgrounds, a water play area, skate park, football fi eld, handball and basketball courts, running track, performance space, picnic area with barbecue grills, and new landscaping throughout. Rockaway Park is located next to the boardwalk, just steps from the beach. Most of these attractions have reopened post-hurricane Sandy. The Far Rockaway Library, which was used as a disaster relief center after Hurricane Sandy, is being replaced by architecture fi rm, Snøhetta, who transformed Times Square. The new library, located at the intersection of Mott and Central Avenues, will double in size, and feature a triangular corner carved out and covered with transparent glass for the entrance, which will open into an inverted pyramidal atrium. The central atrium space will allow plenty of natural light to the ground fl oor, as well as a view of the sky from within the building. The library is expected is be completed in 2016. Mott and Central Avenues are the two most prominent thoroughfares in the neighborhood. Central Avenue is dotted with local and national chain foods restaurants including, McDonalds,, Sissys Restaurant & Bar, Mi Mundo Restaurant, Beijing Restaurant and many more. Far Rockaway is accessible via rail, subway, bus, and car. The Far Rockaway train station for the Long Island Rail Road (LIRR) is part of the Far Rockaway Branch, with service to Penn Station in Manhattan. The Rockaways are served by the A subway train and the Rockaway Park Shuttle), with the A running East to Far Rockaway and the shuttle running down to Rockaway Park. Bus service is available via the MTA Regional Bus Q22, Q113, and QM17 buses; and Nassau Inter-County Express bus N31, N32, and N33. Additionally, the NYC Beach Bus is an express shuttle bus providing service between Downtown Brooklyn and the area around Beach 84 and Jacob Riis Park. JFK International Airport is only 8 miles from the 7-16 Avenue, and LaGuardia Airport is about 17 miles from the site. The area is also accessible by car through the Belt Parkway.
A Livonia Av L New Lots Av East 105 St L Canarsie Rockaway Pkwy L Ocean Pkwy Q 12 TRANSPORTATION - SUBWAY J a m a i c a B a y 1 AirTrain stops/ terminal numbers 2/3 4 nue N Avenue P F Kings Hwy F Avenue U F Avenue X F Neptune Av e U N F Avenue J B Q Avenue M B Q Kings Hwy B Q Avenue U B Q Neck Rd B Q Sheepshead Bay B Q H Beverly Rd 2 5 Newkirk Av 2 5 Flatbush Av Brooklyn College 2 5 h Av 86 St N St West 8 St NY Aquarium D F Q Liberty Av C Brighton Beach B Q C Atlantic Av L y St Sutter Av L Rockaway Av C Ralph Av L B15 JFK Airport s v ton Av ney Island tillwell Av D F N Q Saratoga Av 3 Rockaway Av Junius St Sutter Av Rutland Rd 3 3 3 Pennsylvania Av 3 Van Siclen Av 3 New Lots Av 3 Broad Channel A S Beach 90 St A S Beach 98 St A S Beach 105 St A S Rockaway Park Beach 116 St A S Far Rockaway Mott Av Beach 25 St Beach 36 St Beach 67 St A A Beach 44 St A Beach 60 St A A A SEAGIRT BLVD BEACH CHANNEL DR Far Rockaway Inwood Lawrence Woodmere Cedarhurst VAN SINDEREN AV East NY VAN SICLEN AV PENNSYLVANIA AV LIVONIA AV CROSS BAY BLVD V UTICA AV REMSEN AV NTHROP ST FLATLANDS AV CHURCH AV CROSS BAY VETERANS MEMORIAL BRIDGE NEW YORK AV KINGS HWY ROCKAWAY BEACH BLVD AV SH AV AV H BEACH CHANNEL DR DWOOD EAST FLATBUSH Crown Heights Utica Av Bus - B14 B17 B46 Flatbush Av/ Brooklyn College Bus - B6 B11 B41 B44 B103 Q35 Canarsie Rockaway Pkwy BEDFORD AV AV M OCEAN AV MARINE PARK GATEWAY NATIONAL RECREATION AREA JAMAICA BAY Euclid Av/Pitkin Av Bus - B13 Q7 Q8 New Lots Av Bus - B6 B15 JFK Airport Bus - B6 B17 B42 B60 B82 FLOYD BENNETT FIELD JAMAICA BAY WILDLIFE REFUGE JACOB RIIS PARK JFK INTERNATIONAL AIRPORT MARINE PARKWAY- GIL HODGES MEMORIAL BRIDGE NOSTRAND AV KINGS HIGHWAY HTON LINE AV U AV Z E 16 ST MCDONALD AV ROCKAWAY PT BLVD EST 8 ST CONEY ISLAND OCEAN HILL- BROWNSVILLE EAST NEW YORK BROOKLYN Kings Hwy/E 16 St Bus - B2 B3K B7 B31 B82 B1 SHEEPSHEAD BAY BRIGHTON BEACH Coney Island Stillwell Av FLATLANDS Bus - B36 B68 B74 B82 CANARSIE Sheepshead Bay Bus - B4 B36 B49 BREEZY POINT HOWARD BEACH ROCKAWAY PARK Far Rockaway Bus - N31 N32 N33 Q22 Q113 LIRR
13 TRANSPORTATION - LIRR
14 TRANSPORTATION - BUS
James Nelson Partner 212-696-25 x7710 jnelson@masseyknakal.com Thomas Donovan Partner 718-275-34 x2626 tdonovan@masseyknakal.com Matthew Nickerson Senior Associate 212-660-7742 mnickerson@masseyknakal.com David Shalom Associate 212-660-7767 dshalom@masseyknakal.com Tommy Lin Director of Sales 718-275-34 x2609 tlin@masseyknakal.com