Opinion of Value Overview 2 Saint Ann's Avenue (Fresh Direct Site) DEVELOPMENT VALUE: COMPARABLE SALES VALUE: RECONCILED VALUE: The value of the property based upon recent sales of similar properties. Our opinion of the most likely value to be obtained based upon this analysis. The price affixed to the propery based on a development analysis and a lease to a user Page 1 of 7
7
Embed
Opinion of Value Overview 2 Saint Ann's Avenue (Fresh ...
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Opinion of Value Overview
2 Saint Ann's Avenue (Fresh Direct Site)
DEVELOPMENT VALUE:
COMPARABLE SALES VALUE:
RECONCILED VALUE:
The value of the property based upon recent sales of similar properties.
Our opinion of the most likely value to be obtained based upon this analysis.
The price affixed to the propery based on a development analysis and a lease to a user
Page 1 of 7
Property Description
2 Saint Ann's Avenue (Fresh Direct Site)
Property Information
Location: Southeast corner of Saint Ann's Avenue and East 132nd Street
Address: 2 Saint Ann's Avenue
Block / Lot: 2543 / 1
Lot Dimensions: (Approx.) 895.7' x 753.5' Irr. (Denoted In Plans-Does Not Use Entire HRY)
Lot SF: (Approx.) 548,856 (12.6 Acres)
Building Information
Building Size: (Approx.) 865.7' x 750' Irr. (Proposed)
Gross SF: (Approx.) 424,000 (Proposed)
Facility Make-Up:
Freezer Storage: 20,000 (Proposed)
Refrigerated & Dry Storage: 234,000 (Proposed)
Food Production: 40,000 (Proposed)
Receving/Shipping: 50,000 (Proposed)
Offices/Employee Amenities: 80,000 (Proposed)
Stories: 5 (Proposed)
Zoning: M3-1
Historic District: No
FAR:
Commercial: 2.00
Residential: 2.00
Total Buildable SF: (Approx.) 548,856
Proposed SF: 424,000
Potential Air Rights: 124,856
Assessment (13/14): TBD
RE Taxes (13/14): TBD
Description: The subject property is a 12.6 acre industrial site located at the intersection of St. Ann's Avenue and
East 132nd Street in the South Bronx. It is situated within the Harlem River Yards Transportation and
Distribution Center (HRY) and benefits from excellent access to I-87 and I-95. Other facilites located
in the HRY are occupied by FedEx, Waste Management, the New York Post, and the New York Power
Authority.
Page 2 of 7
Renderings & Tax Map
2 Saint Ann's Avenue (Fresh Direct Site)
Page 3 of 7
2 Saint Ann's Avenue (Fresh Direct Site)
Building Make Up
Page 4 of 7
Square Feet
Lot Size (Acres): 12.60
Land SF: 548,856
Proposed SF: 424,000
Net Annual Net Income
Industrial Space Square Feet RPSF Revenue* 85% of Gross
In order to study the market and determine a value based upon comparable sales, we have analyzed all Grade A Industrial Building sales occurring in the eastern
United States. Each sale has been broken down into a price per quare foot basis to allow for comparison. Below is a breakdown of these sales.
INDUSTRIAL BUILDING SALES COMPS
COMPARABLE LEASE OPPORTUNITIES
LAND & DEVELOPMENT SALE COMPS
SF
130,595
Page 6 of 7
PRICE $/SF $/ BSF $/ACRE
COMPARABLE SALES VALUE:
BUILDING VALUE: $144,500,000 $341 $263 $11,468,254