CAPITAL ONE RETAIL CONDO 501 BROADWAY - SOHO - NEW YORK CITY - OFFERING MEMORANDUM - LoopNet
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THE NNN PRO GROUP
CAPITAL ONE RETAIL CONDO
501 BROADWAY – SOHO – NEW YORK CITY
OFFERING MEMORANDUM
confidentiality & disclaimer
Marcus & Millichap hereby advises all prospective purchasers guarantors may fail to pay the lease rent or property taxes, or Federal regulations, the physical condition of the
of Net Leased property as follows: may fail to comply with other material terms of the lease; cash improvements thereon, or the financial condition or business
flow may be interrupted in part or in whole due to market, prospects of any tenant, or any tenant’s plans or intentions to
The information contained in this Marketing Brochure has economic, environmental or other conditions. Regardless of continue its occupancy of the subject property. The
been obtained from sources we believe to be reliable. tenant history and lease guarantees, Buyer is responsible for information contained in this Marketing Brochure has been
However, Marcus & Millichap has not and will not verify any of conducting his/her own investigation of all matters affecting obtained from sources we believe to be reliable; however,
this information, nor has Marcus & Millichap conducted any the intrinsic value of the property and the value of any long- Marcus & Millichap has not verified, and will not verify, any of
investigation regarding these matters. Marcus & Millichap term lease, including the likelihood of locating a replacement the information contained herein, nor has Marcus & Millichap
makes no guarantee, warranty or representation whatsoever tenant if the current tenant should default or abandon the conducted any investigation regarding these matters and
about the accuracy or completeness of any information property, and the lease terms that Buyer may be able to makes no warranty or representation whatsoever regarding
provided. negotiate with a potential replacement tenant considering the the accuracy or completeness of the information provided. All
location of the property, and Buyer’s legal ability to make potential buyers must take appropriate measures to verify all
As the Buyer of a net leased property, it is the Buyer’s alternate use of the property. of the information set forth herein.
responsibility to independently confirm the accuracy and
completeness of all material information before completing By accepting this Marketing Brochure you agree to release NON-ENDORSEMENT NOTICE
any purchase. This Marketing Brochure is not a substitute for Marcus & Millichap Real Estate Investment Services and hold it
your thorough due diligence investigation of this investment harmless from any kind of claim, cost, expense, or liability Marcus & Millichap Real Estate Investment Services, Inc.
opportunity. Marcus & Millichap expressly denies any arising out of your investigation and/or purchase of this net (“M&M”) is not affiliated with, sponsored by, or endorsed by
obligation to conduct a due diligence examination of this leased property. any commercial tenant or lessee identified in this marketing
Property for Buyer. package. The presence of any corporation’s logo or name is
CONFIDENTIALITY AND DISCLAIMER not intended to indicate or imply affiliation with, or
Any projections, opinions, assumptions or estimates used in sponsorship or endorsement by, said corporation of M&M, its
this Marketing Brochure are for example only and do not The information contained in the following Marketing affiliates or subsidiaries, or any agent, product, service, or
represent the current or future performance of this property. Brochure is proprietary and strictly confidential. It is intended commercial listing of M&M, and is solely included for the
The value of a net leased property to you depends on factors to be reviewed only by the party receiving it from Marcus & purpose of providing tenant lessee information about this
that should be evaluated by you and your tax, financial and Millichap and should not be made available to any other listing to prospective customers.
legal advisors. person or entity without the written consent of Marcus &
Millichap. By acceptance of this information, the recipient ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
Buyer and Buyer’s tax, financial, legal, and construction agrees to treat this information as strictly confidential, not to PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR
advisors should conduct a careful, independent investigation use it for any purpose other than in connection with an MORE DETAILS.
of any net leased property to determine to your satisfaction analysis of the potential sale of the property from the owner
with the suitability of the property for your needs. as contemplated herein and that the owner of the property
may enforce these restrictions. This Marketing Brochure has
Like all real estate investments, this investment carries been prepared to provide summary, unverified information to
significant risks. Buyer and Buyer’s legal and financial advisors prospective purchasers, and to establish only a preliminary
must request and carefully review all legal and financial level of interest in the subject property. The information
documents related to the property and tenant. While the contained herein is not a substitute for a thorough due
tenant’s past performance at this or other locations is an diligence investigation. Marcus & Millichap has not made any
important consideration, it is not a guarantee of future investigation, and makes no warranty or representation, with
success. Similarly, the lease rate for some properties, including respect to the income or expenses for the subject property,
newly-constructed facilities or newly-acquired locations, may the future projected financial performance of the property,
be set based on a tenant’s projected sales with little or no the size and square footage of the property and
record of actual performance, or comparable rents for the improvements, the presence or absence of contaminating
area. Returns are not guaranteed; the tenant and any substances, PCB’s or asbestos, the compliance with State and
Table of Contents
Financial Overview
Investment Highlights & Overview
Projected Cash Flow Statement
Investment Summary
Sales Comparables
Rental Comparables
Tenant Overview
Location Overview
Location Overview
Market Overview – Manhattan
Market Overview- SoHo
Surrounding Area Map
Floor Plans and Other Info
Subway Map
Local Map
Regional Map
Property Photos
Surrounding Area Photos
Demographics
FINANCIAL OVERVIEW
Located at 501 Broadway – Between Broome & Spring Streets
PRICE: $49,750,000 | 4.91% CAP | NOI: $2,441,668
PROPERTY DESCRIPTION
Property Name
Property Address
Capital One Bank
501 Broadway 501
City, State, Zip New York, NY 10012 BROADWAY
Estimated Condo Size (SF) 9,035
Block / Lot 484 / 1001
Ownership Fee Simple INVESTMENT HIGHLIGHTS
Real Estate Fundamentals:
THE OFFERING
➢ Recently Constructed (2007) – Modern Design – Attractive Physical
Price $49,750,000
Features
CAP Rate 4.91%
Annual Rent $2,541,000* ➢ Institutionally Owned and Managed: No Major / Upcoming Capital
Expenditures
Net Operating Income $2,441,668
Price Per SF $5,956 ➢ World-Class Broadway Location – Strategically Situated Among Major
Rent Per SF $292 Flagships and National Retailers
*Based on 8/1/19 rental increase, seller will credit the difference in rent at closing.
➢ More Than 1,000,000 Individuals Within a Three-Mile Radius with an
Average Household Income Exceeding $130,000
LEASE SUMMARY
FINANCIAL OVERVIEW
Property Type Net Leased Bank
Ownership Public Lease Economics:
Tenant Capital One, N.A. ➢ 7+ Years Remaining on the Original 12 Year Modified Triple-Net
Guarantor Corporate (NNN) Lease
Lease Term 12 Years
➢ Rental Increases: 10% Every Three Years – Strong Inflation Protected
Lease Commencement Date 3/15/2013
Yields
Lease Expiration 7/31/2025
Lease Term Remaining 7+ Years ➢ Renewal Options: Two (2), Five (5) - Year Tenant Renewal Options
Lease Type Modified Triple Net (NNN) ➢ Rental Increases in Options: The Rent Increases 10% Upon Execution
Options to Renew Two, Five-Year Options of the First Option Period, With an Additional 10% Increase in Year
Base Term Rental Escalations 10% Every Three Years 15. Rent resets to Fair Market Value in Option Period 2
Rental Escalations in Option Period 1 10% Increase in Year 13 and Year 15 Credit of Tenant:
Rental Escalations in Option Period 2 100% FMV
➢ Capital One Financial Corp. - $43.3 Billion Market Cap
RE Tax Increases Over $99,327; CAM –
Reimbursements
net, utilities direct ➢ Investment Grade Ratings – S&P (BBB+) – Moody’s (Baa1) – Fitch (A-)
➢ Revenues of $27.237 Billion in 2017
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. © 2013 Marcus & Millichap (Activity ID: Z0330904)
5
Projected Cash Flow Statement
Schedule Of Prospective Cash Flow
In Inflated Dollars for the Fiscal Year Beginning 7/1/2018
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
For the Years Ending Jun-2019 Jun-2020 Jun-2021 Jun-2022 Jun-2023 Jun-2024 Jun-2025 Jun-2026 Jun-2027 Jun-2028
PROJECTED CASH FLOW STATEMENT
REVENUE ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________
Base Rental Revenue $2,310,000 $2,521,750 $2,541,000 $2,541,000 $2,773,925 $2,795,100 $2,795,100 $3,051,318 $3,074,610 $3,356,449
Real Estate Taxes (Full AV) 31,398 39,189 47,431 56,181 65,440 75,259 85,670 96,694 108,385 120,772
Condo CAM Reimbursement 44,187 45,517 46,879 48,286 49,733 51,229 52,764 54,349 55,975 57,658
___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________
Effective Gross Revenue 2,234,415 2,437,044 2,446,690 2,436,533 2,658,752 2,668,612 2,656,666 2,900,275 2,910,250 3,178,019
Operating Expenses
Real Estate Taxes (Full AV) 130,729 138,511 146,763 155,503 164,769 174,588 184,994 196,023 207,711 220,100
421a RE Tax Savings (15,213) (5,176) 0 0 0 0 0 0 0 0
Condo CAM 44,190 45,514 46,879 48,287 49,736 51,226 52,764 54,348 55,977 57,657
___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________
Total Operating Expenses 159,706 178,849 193,642 203,790 214,505 225,814 237,758 250,371 263,688 277,757
Rent Credit* 215,789 14,061
___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________
Net Operating Income 2,441,668 2,441,668 2,441,668 2,441,677 2,674,593 2,695,774 2,695,776 2,951,990 2,975,282 3,257,122
*Seller to provide rent credit at closing
Capital One Retail Condominium
501 Broadway
New York, NY
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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 6
Investment Summary
The subject investment is the opportunity to acquire a newly constructed
modern block-through retail condominium leased to an investment grade
tenant. The asset is 100% leased to Capital One with approximately 7 years
remaining on the initial term of the lease. The condominium provides an
investor with a prime New York City asset in the heart of SoHo with extremely
minimal landlord responsibilities. The asset offers the owner an opportunity to
purchase a best of class location generational asset with a credit tenant.
The ground floor condominium features 3,659 square feet, 4,694 square feet of
lower level space and 682 square feet of additional space. The annual rent is
$2,541,000 annually ($211,750 monthly) and features ten percent (10%) rental
increases every three years. The asset is conveniently located on Broadway
which experiences unrivaled foot traffic coupled with exceptional subway
access in one of the most profound retail arteries in the world. The strategic
positioning of this property resulted in deposits of over $119 Million at this
location.
Annualized Operating Data
Annual Rent $2,541,000*
Net Operating Income $2,441,668
FINANCIAL OVERVIEW
Base Term Rental Escalations 10% Every Three Years
Rental Escalations in Options See Rent Schedule
*Based on 8/1/19 rental increase, seller will credit the difference in rent at closing.
RENT SCHEDULE
Lease Year Annual Rent Monthly Rent
08/2016 – 07/2019 $2,310,000 $192,500
08/2019 – 07/2022 $2,541,000 $211,750
08/2022 – 07/2025 $2,795,100 $232,925
Option Period 1
08/2025 – 07/2027 $3,074,610 $256,218
08/2027 – 07/2030 $3,382,071 $281,839
Option Period 2
08/2030 – 07/2035 100% FMV 100% FMV
CAP Rate 4.91%
Purchase Price $49,750,000
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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 7
Sales Comparables
RENTAL AND SALES COMPARABLES
SUBJECT PROPERTY SALES COMPS
Property Name Capital One Bank Property Address 114 Prince Street 503 Broadway
Property Address 501 Broadway Between Spring Street &
New York, NY 10012
Broome Street
Between Spring Street & Broome Street
Ground Level (SF) 3,659 Ground Level (SF) 2,750 13,600
Asking Price $49,750,000 Sale Price $41,729,429 $279,996,800
Asking $/SF $13,596 $/SF $15,174 $20,588
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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 8
Rental Comparables
RENTAL AND SALES COMPARABLES
RENTAL COMPS ASKING RENT COMPS
Property Name Sketchers Footwear Melissa
Property Address 530 Broadway 500 Broadway Property Address 568-578 Broadway 543 Broadway
Between Spring Street & NE Corner of Prince Street AKA 114 Mercer Street
Corner of Spring Street
Broome Street Ground Level (SF) 10,250 4,242
Ground Level (SF) 2,280 4,200 Annual Rent $8,712,500 $2,748,816
Annual Rent $2,300,000 $2,940,000 Asking $/SF $850 $648
$/SF – Ground Level $1,009 $700
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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 9
Capital One
Capital One Financial Corporation is a financial holding company whose
subsidiaries, which include Capital One, N.A., and Capital One Bank (USA),
N.A., had $236.8 billion in deposits and $365 billion in total assets as of
December 31, 2017. Headquartered in McLean, Virginia, Capital One
offers a broad spectrum of financial products and services to consumers,
small businesses and commercial clients through a variety of channels.
Capital One, N.A. has branches located primarily in New York, Louisiana,
Texas, Maryland, Virginia, New Jersey and the District of Columbia. A
Fortune 500 company, Capital One trades on the New York Stock
Exchange under the symbol "COF" and is included in the S&P 100 index.
The bank is the 10th largest in the US with 755 branches and 2,000 ATMs.
In 2017, Capital One grew revenues by $1.7 billion and increased
earnings per share even as they continued their investments in growth,
transformation, and risk management. The combination of strong
revenue growth and careful expense management resulted in better
operating efficiency. They have improved our efficiency ratio by over 300
basis points since 2015, including over 100 basis points in 2017. They
posted 2017 GAAP net income of $1.98 billion, or $3.49 per share, which
included a $1.77 billion one-time reduction in net income due to
December’s Tax Act legislation.
TENANT OVERVIEW
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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 10LOCATION OVERVIEW
Location Overview
The Capital One property is located at 501 Broadway in the heart
of SoHo in Lower Manhattan. SoHo refers to the region being
south of Houston Street; the neighborhood is well-regarded for its
rich architecture and a vibrant avant-garde art scene.
Surrounding Retail and Points of Interest
The subject property is strategically positioned on Broadway
benefiting from the abundance of major retailers, high-end
boutiques, luxury hotels, and world renowned restaurants in the
area. Retailers have opened many new flagship stores including:
Nike, Adidas, Zara, Dolce & Gabbana, and Tory Burch. Various
major retailers in the area include: Bloomingdales, H&M, Forever
21, MAC, Madewell, Prada, Lululemon, Kate Spade, Balenciaga,
Vince Camuto, AllSaints, as well as many others.
LOCATION OVERVIEW
Demographics and Pedestrian Traffic
SoHo has 51,240 individuals residing in the neighborhood, with a
total of 26,527 households. The average household income in
the neighborhood is $143,313 representing a 7% increase since
2010. The average household net worth is $1,108,237 and the
median home sale price in the neighborhood exceeds
$2,381,250. Pedestrian activity on Broadway is ranked as the
highest in the entire New York City area, comparing to Times
Square and Fifth Avenue.
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. © 2013 Marcus & Millichap (Activity ID: Z0330904)
12Metro Economy
Manhattan is home to more than 1.6 million residents who are New York City is home to 49 Fortune 500 companies, more than any
part of a much bigger population system; the New York City other metro in the country, and most are located in Manhattan. The
metropolitan area is the largest in the United States, with city serves as the epicenter for a wide variety of industries, making the
approximately 20 million inhabitants in three states. New York performance of its local economy integral to the nation.
City consists of five boroughs with more than 8.5 million people.
New York City is one of the leading financial centers in the world, with
Employers many international banks and financial firms maintaining offices in the
More than half of Manhattan’s labor market is involved in city. Wall Street is a major driver of the local economy, as a significant
financial activities and services sectors. This is because New York number of people are employed directly in the securities industry. The
City is the headquarters of some of the largest U.S.-based city is a hub for the media, communications and publishing industries.
consulting businesses, accounting offices, insurance companies
MARKET OVERVIEW
The major television networks have substantial operations in
and legal firms, as well as the United Nations. In addition, Manhattan, while hundreds of newspapers and magazines and several
Manhattan is the financial center of the country and home to music-recording companies are headquartered in the city. In addition,
the New York Stock Exchange. Many of the world’s top banks New York City is the advertising capital of the United States and has a
and securities firms are located here. Major employers in the growing presence in the Internet/new media field. The entertainment
finance industry based in Manhattan include Goldman Sachs, and tourism industries are crucial to the Manhattan economy, with
JPMorgan Chase and Morgan Stanley. numerous theaters and attractions drawing billions of dollars each
year.
Media conglomerate Time Warner is the largest company in the
information sector, employing thousands of people in Manhattan is also an important location for many retailers, both
Manhattan from its headquarters at the Time Warner Center in national and local. Retail sales in the borough typically grow faster
Midtown. Google also has thousands of workers on payroll, and than the U.S. rate; this year, Manhattan will exceed the national sales
other large media employers are Viacom and Verizon. growth average with a rate of 9.3 percent. In addition, many major
technology firms are expanding in the borough
The education and health services sector accounts for 13
percent of jobs in Manhattan. Large employers include New York
University, Columbia University, New York-Presbyterian
Healthcare, and Mount Sinai Hospital.
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. © 2013 Marcus & Millichap (Activity ID: Z0330904)
13SoHo is a neighborhood in Lower Manhattan, New York City,
which in recent history came to the public's attention for being
the location of many artists' lofts and art galleries, but is now
better known for its variety of shops ranging from trendy upscale
boutiques to national and international chain store outlets. The
name "SoHo" refers to the area being "South of Houston Street",
and was also a reference to SoHo, an area in London's West End.
Almost all of SoHo is included in the SoHo-Cast Iron Historic
District, which was designated by the New York City Landmarks
Preservation Commission in 1973, extended in 2010, and was
MARKET OVERVIEW
listed on the National Register of Historic Places and declared a
National Historic Landmark in 1978. It consists of 26 blocks and
approximately 500 buildings, many of them incorporating cast-
iron architectural elements.
SoHo is bounded by Houston Street on the northern side, Canal
Street on the south, Crosby Street on the east, and Sixth Avenue
to the west. SoHo's chain outlets are clustered in the northern
area of the neighborhood, along Broadway and Prince and
Spring Streets. The sidewalks in this area are often crowded with
tourists and with vendors selling jewelry, T-shirts, and other works.
SoHo is known for its commercialization and eclectic mix of
boutiques for shopping. New York City’s tourist visitor numbers
have increased to a record breaking 60.3 million in 2016, up from
48.8 million in 2010.
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. © 2013 Marcus & Millichap (Activity ID: Z0330904)
14MERCER STREET MERCER STREET
G S P H
B O
R R P R
R I U
A O S
N O I N
T
D M N C O
E G E N
S S S
S S
T T T T
R T
R R R
R
E E E E
E 5
E
E E 0 E E
T 1 T T T
T
BROADWAY BROADWAYFrontage
The retail unit has 29.25 feet of
frontage on Broadway, 30 feet FLOOR PLANS
of frontage on Mercer Street,
and 200 feet of block-through
depth.
Zoning
3,659 SF
It is located in an M1-5B zoning
district which permits many
industrial and commercial uses.
The building is also located
within the SoHo Cast Iron Historic
District.
Ceiling Heights
Ground Floor – 20 Feet
Lower Level – 12 Feet
Sub-lower Level – 8 Feet
Common Area Maintenance
4,694 SF
Tenant is responsible for
reimbursing ownership for CAM
charges. The charges include
payroll, cleaning, water & sewer,
insurance, and repairs &
maintenance. CAM charges are
expected to total $44,187 in
2018.
Prohibited Use
•To sell/display any
pornographic or obscene
material
•Live Performances, including
Nude/Semi-Nude or Sex 682 SF
Club/Massage Parlor
•Laundromat/Dry Cleaner
•Bar/Restaurant/Café/Cabaret
•To sell tickets for
lotteries/games of chanceA, C & E Line at Spring Street Station –
8 Minute Walk – 3.8 Million Riders
Annually
6 Line at Spring Street Station – 3
Minute Walk – 3.8 Million Riders
Annually
B, D, F, & M Line at Broadway-
Lafayette Station – 6 Minute Walk –
6
12.7 Million Riders Annually
N & R Line at Prince Street Station – 4
Minute Walk – 5.4 Million Riders
Annually
501
BROADWAY
SUBWAY MAP
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. © 2013 Marcus & Millichap (Activity ID: Z0330904)
17LOCAL MAP 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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 18
REGIONAL MAP 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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 19
PROPERTY PHOTOS 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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 20
PROPERTY PHOTOS 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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 21
PROPERTY PHOTOS 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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 22
SURROUNDING AREA PHOTOS 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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 23
SURROUNDING AREA PHOTOS 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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 24
DEMOGRAPHICS
10012 1 Mile 3 Miles
POPULATION
2020 Projection 25,114 240,324 1,060,966
2015 Estimate 25,321 234,491 1,011,336
2010 Census 23,925 221,505 945,728
2000 Census 26,210 216,555 854,950
INCOME
Average $149,395 $132,937 $130,392
Median $93,222 $75,904 $80,875
Per Capita $83,803 $65,375 $64,544
HOUSEHOLDS
2020 Projection 14,042 117,276 523,353
2015 Estimate 14,077 113,789 496,375
2010 Census 13,206 106,639 460,681
2000 Census 13,815 102,800 409,452
HOUSING
Total Housing Units -
14,908 119,728 532,617
2015
DEMOGRAPHICS
RACE & ETHNICITY
White 73.7% 58.3% 65.3%
Native American 0.1% 0.2% 0.3%
African American 2.7% 4.4% 7.3%
Asian/Pacific Islander 17.7% 29.7% 17.6%
SOHO NYC
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. © 2013 Marcus & Millichap (Activity ID: Z0330904) 26THE NNN PRO GROUP
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