260 Madison Avenue, 5th Floor New York, NY Tel: (212) Fax: (646) Madison Avenue, 5th Floor

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2 260 Madison Avenue, 5th Floor New York, NY Tel: (212) Fax: (646) Madison Avenue, 5th Floor New York, NY Tel: (212) Cell: (516) Madison Avenue, 5th Floor New York, NY Tel: (212) Cell: (917) Madison Avenue New York, NY Tel: (646) Cell: (717) Madison Avenue, 5th Floor New York, NY Tel: (212) Fax: (212)

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6 Marcus & Millichap is pleased to offer 169 West 83rd Street, a five-story building located on West 83rd Street between Amsterdam & Columbus Avenue. The property contains 6,000 square feet and is built 19 ft x 68 ft on a 19 ft x ft lot (Block: 1214, Lot: 106). The property is zoned both R8B and C2-5 and is located in the Upper West Side/Central Park West Historic District. Strategically situated under protected tax class 2A, 169 West 83 Street has real estate tax increases capped at 8% annually or 30% every 5 years, offering a new investor secure tax protection. Located near Central Park West, the Natural History Museum, eclectic dining venues and the 1,2,3, C & B subway lines 169 West 83rd street is positioned in the bustling nook of the Upper West Side. The subject property is a 19 wide, five-story walk up building consisting of approximately 6,000 square feet. As one of only six original townhouses on the Upper West Side that can trace their design roots to New York s premier architectural firm, McKim, Meade & White, this is a rare opportunity to acquire a piece of New York history. This is a uniquely positioned, 100% free market asset, which allows for an array of potential uses. For example, the owner s unit is currently configured as an approximately 1,600 square foot duplex apartment with a fully built out basement and exclusive garden access. However, a user has the option to combine this unit with the floor above, creating a spacious and charming triplex unit that would be an ideal home for a large family. Additionally, one could convert the entirety of the home into a single-family residence. The opportunity at hand caters to a value-add investor, a user, a single-family converter, or a first time NYC buyer. Under current ownership, the building has undergone over $500,000 in capital expenditures ranging from modern window treatments, color video intercom system and remote video surveillance system, updated mechanicals including boiler and chimney, general cosmetic renovations and multiple smartbuilding, automated features that gives the asset a management-free aesthetic. TOTAL UNITS PRICE /SF CAP RATE FRONTAGE TOTAL SQUARE FEET PROJECTED TAXES GRM AVAILABLE AIR RIGHTS

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9 OFFERING PRICE $6,950, % 12% $5,400 PRO FORMA AVERAGE MONTHLY RENT $/SF $1,158 INCOME CURRENT PRO FORMA $/UNIT $1,390,000 Gross Potential Residential Rent $289,020 $324,000 TOTAL SF 6,000 Gross Potential Commercial Rent $0 $0 TOTAL UNITS 5 Gross Income $289,020 $324,000 Vacancy/Collection Loss ($5,780) ($6,480) CURRENT METRICS Other Income $0 $0 CAP RATE 3.2% Effective Gross Income $283,240 $317,520 GRM 24.0 Average Residential Rent/Month/Unit $4,817 $5,400 PRO FORMA METRICS CAP RATE 3.6% EXPENSES GRM 21.5 Property Taxes Tax Class: 2A $32,936 $32,936 CASH ON CASH 1.89% Fuel $5,050 $5,050 Insurance $5,000 $5,000 Water and Sewer $1,894 $1,894 EXPENSE RATIO UPSIDE ANALYSIS Repairs and Maintenance $3,000 $3,000 Common Electric (PPSF) $1,591 $1,591 Super Salary $5,000 $5,000 Management Fee $8,497 $9,526 Total Expenses $62,968 $63,997 Net Operating Income $220,271 $253,523 LEASE STATUS ANALYSIS UNIT BREAKDOWN % OF TOTAL TOTAL AVG. RENT Total Units -- 5 $4,817 Total RS Units 0% 0 $0 Total RC Units 0% 0 $0 PROPOSED DEBT Total FM Units 100% 5 $4,817 Debt Service ($178,795) Total Commercial -- 0 $0 Debt Coverage Ratio 1.23 Net Debt Cash Flow After Debt Service $74,729 UNIT TYPE ANALYSIS Loan Amount $3,000,000 TYPE % OF TOTAL TOTAL AVG. RENT Interest Rate 4.25% Studio 0% 0 $0 Amortization 30 1 Bedroom 0% 0 $0 GROSS TOTAL SF RATIO OF FAIR MARKET UNITS PROPERTY TAXES RATIO 22% $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 6,000 $1,158 $0 Current Avg RS Units Market Rents Current Avg FM Rents $/SF 2 Bedroom 20% 1 $6,500 3 Bedroom 80% 4 $4,396 4 Bedroom 0% 0 $0 5 Bedroom 0% 0 $0 6 Bedroom 0% 0 $0 SRO 0% 0 $0 Thisinformationhasbeensecuredfromsourceswebelievetobereliable,butwemakenorepresentationsorwarranties,expressedorimplied,astotheaccuracyof the information. References to square footage or age are approximate. Buyermustverify the information and bears allrisk forany inaccuracies.any projections, opinions,assumptionsor estimatesusedhereinarefor examplepurposesonlyanddo notrepresentthecurrentor futureperformanceof theproperty.marcus& MillichapRealEstateInvestmentServicesisaservicemarkofMarcus&MillichapRealEstateInvestmentServices,Inc Marcus&Millichap

10 RESIDENTIAL RENT UNIT# LEASE STATUS NOTES BEDROOMS ROOMS SF EXPIRATION ACTUAL PRO FORMA 1 FM Duplex/Garden 2 Bedroom 4 1,600 Aug-18 $6,500 $7,500 2 FM 3 Bedroom 5 1,100 Sep-19 $4,500 $4,900 3 FM 3 Bedroom 5 1,100 Mar-19 $4,500 $4,900 4 FM 3 Bedroom 5 1,100 Mar-19 $4,300 $4,850 5 FM 3 Bedroom 5 1,100 Jun-19 $4,285 $4,850 MONTHLY RESIDENTIAL REVENUE ,000 $24,085 $27,000 ANNUAL RESIDENTIAL REVENUE $289,020 $324,000 ACTUAL PRO FORMA TOTAL ANNUAL REVENUE $289,020 $324,000 There are currently 0 vacant units in the building. The super lives off site. Thisinformationhasbeensecuredfromsourceswebelievetobereliable,butwemakenorepresentationsorwarranties,expressedorimplied,astotheaccuracyof the information. References to square footage or age are approximate. Buyermustverify the information and bears allrisk forany inaccuracies.any projections, opinions,assumptionsor estimatesusedhereinarefor examplepurposesonlyanddo notrepresentthecurrentor futureperformanceof theproperty.marcus& MillichapRealEstateInvestmentServicesisaservicemarkofMarcus&MillichapRealEstateInvestmentServices,Inc Marcus&Millichap

11 GROSS POTENTIAL INCOME ACTUAL PRO FORMA %EGI $/UNIT %EGI $/UNIT Gross Potential Residential Rent $289, % $57,804 $324, % $64,800 Gross Potential Commercial Rent $0 0% $0 $0 0% $0 Gross Income $289,020 $57,804 $324,000 $64,800 Vacancy/Collection Loss ($5,780) 2% ($1,156) ($6,480) 2% ($1,296) Other Income $0 $0 $0 $0 Effective Gross Income $283,240 $56,648 $317,520 $63,504 Average Residential Rent/Month/Unit $4,817 $5,400 AVERAGE RENT PER MONTH $4,817 PERCENT FAIR MARKET EXPENSES Property Taxes Tax Class: 2A $32,936 12% $6,587 $32,936 10% $6,587 Fuel $5,050 2% $1,010 $5,050 2% $1,010 Insurance $5,000 2% $1,000 $5,000 2% $1,000 Water and Sewer $1,894 1% $379 $1,894 1% $379 Repairs and Maintenance $3,000 1% $600 $3,000 1% $600 Common Electric (PPSF) $1, % $0.27 $1, % $0.27 Super Salary $5,000 2% $1,000 $5,000 2% $1,000 Management Fee $8,497 3% $1,699 $9,526 3% $1,905 Total Expenses $62,968 22% $12,594 $63,997 20% $12,799 Net Operating Income $220,271 $253,523 LEASE STATUS MIX UNIT BREAKDOWN % OF TOTAL RENT TOTAL AVG. RENT Total Units -- $24,085 5 $4,817 Total RS Units 0% $0 0 $0 Total RC Units 0% $0 0 $0 Total FM Units 100% $24,085 5 $4,817 Total Commercial -- $0 0 $0 100% TAXES AS PERCENT OF EGI 12% RENTAL ANALYSIS BY UNIT TYPE TYPE % OF TOTAL RENT TOTAL AVG. RENT Studio 0% $0 0 $0 1 Bedroom 0% $0 0 $0 2 Bedroom 20% $6,500 1 $6,500 3 Bedroom 80% $17,585 4 $4,396 4 Bedroom 0% $0 0 $0 5 Bedroom 0% $0 0 $0 6 Bedroom 0% $0 0 $0 SRO 0% $0 0 $0 EXPENSE RATIO 22% UPSIDE ANALYSIS $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom 5 Bedroom 6 Bedroom SRO Current Avg RS Units Market Rents Current Avg FM Rents Thisinformationhasbeensecuredfromsourceswebelievetobereliable,butwemakenorepresentationsorwarranties,expressedorimplied,astotheaccuracyof the information. References to square footage or age are approximate. Buyermustverify the information and bears allrisk forany inaccuracies.any projections, opinions,assumptionsor estimatesusedhereinarefor examplepurposesonlyanddo notrepresentthecurrentor futureperformanceof theproperty.marcus& MillichapRealEstateInvestmentServicesisaservicemarkofMarcus&MillichapRealEstateInvestmentServices,Inc Marcus&Millichap

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14 CITY: STATE: BLOCK & LOT: LOT DIMENSIONS: New Yorki NYi 1214 / 106i 19 ft X fti LOT SF: 1,890i BUILDING DIMENSIONS: 19 ft X 68 fti BUILDING SF: 6,000i ZONING: R8Bi MAX FAR: 4.00i AVAILABLE AIR RIGHTS: 2,022i LANDMARK DISTRICT: HISTORIC DISTRICT: ANNUAL TAX BILL: TAX CLASS: Nonei Yesi $32,936 2Ai

15 Manhattan is a significant part of a much larger population system; the New York City metropolitan area is the largest in the United States, with more than 19 million inhabitants in three states. C O N F I D E N T I A L 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 Marcus & Millichap

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20 The island of Manhattan is one of New York City's five boroughs, approximately 13 miles long and two miles wide. Solid bedrock provides a firm foundation for the high-rise buildings that dominate the skyline. Manhattan's deep-water port and proximity to the nation's interior bolster its position as a global economic powerhouse. Manhattan also contains Central Park, which encompasses 843 acres in the center of the island and is considered one of the nation's premier public spaces. Manhattan is home to over 1.6 million residents who are part of a much larger population system. The New York City metropolitan area is the largest in the United States, with more than 19 million inhabitants in three states. New York City consists of five boroughs with about 8.4 million people. Manhattan is well placed, situated 100 miles from Philadelphia, 210 miles from Boston, 230 miles from Washington, D.C., and 790 miles from Chicago. New York Harbor contains docks for freight and passenger ships and provides ferry service to New Jersey and around the city. Large population: New York City is the United States largest city, with upwards of 8 million residents. Top address for corporate headquarters: 40+ Fortune 500 companies call New York City home. High barriers to development: few parcels of developable land + high costs = limits to new construction. New York City has an extensive mass-transportation network. Subway and bus systems serve virtually every area in the five boroughs. There are 468 stations in the New York City Transit subway system, including 147 stations in Manhattan. Grand Central Station and Penn Station, both in Midtown Manhattan, provide rail service to the suburbs and long-distance connections, while three international airports offer flights to most global destinations. The island of Manhattan is linked to the other boroughs and New Jersey by 11 bridges and four tunnels for vehicular traffic, with numerous additional tunnels for subway and rail lines. Highways along the borough's eastern and western edges connect to freeways throughout the five boroughs.

21 New York City is home to around 40 Fortune 500 companies, more than any other MSA in the country, and most are located in Manhattan. The city serves as the epicenter for a wide variety of industries, making the performance of its local economy integral to the nation. The Port of New York is also a vital component of New York s centrality to American and regional trade. As one of the leading financial centers in the world, New York City boasts many international banks and financial firms maintaining offices in the city. Wall Street is a major driver of the local economy, as a significant number of people are employed directly in the securities industry. The city is also a hub for the media, communications and publishing industries. The major television networks have substantial operations in Manhattan, while hundreds of newspapers, magazines and several music recording companies are headquartered in the city. In addition, New York City is the advertising capital of the United States and has a growing presence in the Internet/new media field. The entertainment and tourism industries are crucial to the Manhattan economy, with numerous theaters and attractions drawing billions of dollars each year. Manhattan is also an important location for many retailers, both national and local. Retail sales in the borough typically grew faster than the U.S. rate over the past decade. Job growth in Manhattan slowed over the past five years as the economic downturn weighed on the local manufacturing, information, trade, transportation and utilities, and financial activities sectors. Professional and business services is the largest employment sector, accounting for over 470,000 positions, or 20 percent of the labor force. The government sector follows closely, with 19 percent of jobs in Manhattan. These sectors will post average annual gains of 2.3 percent and 1.2 percent, respectively, over the next five years. The leisure and hospitality and education and health services sectors will record the largest growth through 2015, increasing at average annual rates of 3.1 percent and 2.9 percent, respectively. An annual gain of 2.9 percent is also expected in the other services sector. C O N F I D E N T I A L 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 Marcus & Millichap

22 Over half of Manhattan s labor market is involved in financial activities and the services sectors. This is due to New York City being the headquarters of some of the largest U.S.-based consulting businesses, accounting offices, insurance companies and legal firms, as well as the United Nations. In addition, Manhattan is the financial center of the country and home to the New York Stock Exchange, being one of the only two Alpha++ cities in the world, sharing the title with London. Many of the world's top securities firms and banks are located here. Major employers in the finance industry based in Manhattan include Goldman Sachs, JPMorgan Chase and Morgan Stanley Smith Barney. Media conglomerate Time Warner is the largest company in the information sector, employing thousands of people in Manhattan from its headquarters at the Time Warner Center in Midtown. Other large media employers in the borough are Viacom and Verizon. 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, Mount Sinai Hospital and Continuum Health Partners Inc. New York City is the largest city in the United States, with over 8 million residents. An estimated 19 million people live within the tristate metro area. Among the five boroughs, Manhattan is third largest behind Brooklyn and Queens, with a population of over 1.6 million. Manhattan grew 0.7 percent annually during the past decade, a rate expected to continue through The share of Manhattan residents with a Bachelor s degree is more than 34 percent, far above the national average of almost 28 percent. Additionally, more than 14 percent of the borough residents over age 25 have a graduate degree, compared to just over 10 percent nationally. There are significant and noteworthy differences between Manhattan s demographic profile and the profile of the nation. In particular, residents under age 20 make up only 20 percent of Manhattan's population, compared to 27 percent at the U.S. level. Additionally, residents ages 25 to 44 comprise 37 percent of the local population, up from 27 percent nationally, as this vital job market attracts many in their prime working years.

23 Although Manhattan s median household income stands at a healthy $68,100 annually, the borough also has one of the highest housing costs in the country, with the median home price resting at nearly $1.2 million. Manhattan offers a quality of life unique even within the nation s largest cities. Although housing costs are among the most expensive in the country, the borough provides a variety of cultural, entertainment and employment opportunities. The area is one of the few places in the United States where a person can live without a car and rely completely upon mass transit. You can get anywhere easily by taking the subway, buses or taxicabs, and rail terminals and airports make long-distance travel accessible. A variety of entertainment options are available to Manhattanites, including Broadway shows, first-run films and famous nightlife venues. There are two MLB teams, two NFL teams, two NHL teams and two NBA teams within the metro area. New York City has an extensive public park system, the jewel of which is Central Park in Manhattan offering natural areas, lawns, playing fields, running trails, biking paths, boating facilities and a zoo. Manhattan also boasts world class art museums including the Metropolitan Museum of Art, the Guggenheim and the Museum of Modern Art. The city's international flavor is always on display in the island's many restaurants, featuring recipes from around the world. New York s island of Manhattan continues to rise in culture, quality of life, and wealth. As a global gateway city, New York will continue to deliver promising opportunities and investment potential. C O N F I D E N T I A L 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 Marcus & Millichap

24 The Upper West Side canvasses 59th Street to the south, 110th Street to the north, Central Park to the east and the Hudson River to the west. Boasting some of the most desirable buildings in New York City, the Upper West Side has become one of the most coveted neighborhoods to live. A mix of charming townhouses, pre-war cooperatives, and luxurious condominiums fill the streets of this predominantly residential neighborhood. The broad array of homes and abundance of entertainment and fashionable boutiques have attracted middle and wealthy class residents from a wide range of occupations: professionals, educators, actors, and artists. In the 18th Century, the Dutch coined the Upper West Side as The Bloomingdale District, spanning from 23rd to 125th Streets, inhabiting luxurious farm and country residences for some of the wealthiest city-dwellers in Manhattan. However, during early 19th century the area was becoming filled with smaller suburban villas, and by mid-century parts of the Upper West Side had become lower class. The gentrification of the neighborhood is tied to college and graduate students moving to the Upper West Side to attend Columbia University, as well as young hopefuls seeking their first white-collar jobs in Manhattan. Although the Bloomingdale District was broken up by the influx of new residents, the name is still evident in parts of the Upper West Side, particularly between 96th to 110th Streets, which houses prominent institutions such as Columbia University, Schwab Mansion, Bloomingdale School of Music, and a branch of the New York Public Library. Residents in the Upper West Side enjoy world-renowned landmarks and institutions in their neighborhood. Perfect for advent history and art lovers, the neighborhood contains prominent museums and exhibits, including the American Museum of Natural History and the American Folk Art Museum. Lincoln Center, one the most famous performing art centers, is also located on the Upper West Side and serves as a haven for theatre, opera, musicals, and ballets. The Upper West Side is also filled with restaurants and bars along Amsterdam Avenue from 67th Street to 110th Street, which serve as a commonplace for people to enjoy the eclectic mix of food and sceneries offered. After a meal, enjoy the numerous retail chain stores and designer shops that the neighborhood has to offer: Betsey Johnson, French Connection, Ann Taylor, Banana Republic, and much more. The area also features luxurious shops and restaurants in the famed Time Warner Center. Perhaps one of the greatest attractions of the Upper West Side is its immediate proximity to Central Park. For nearly 150 years, residents and tourists alike have flocked to the park for a peaceful and quiet escape. The park offers activities such as strolling though Strawberry Fields and the Great Lawn, exploring the Central Park Zoo, relaxing on a horse-drawn carriage ride, and rowing a boat to the Loeb Boathouse. Whatever your recreational activity of choice, Central Park has something for everyone. Two subway lines serve residents in the Upper West Side: the Seventh Avenue Line, which runs along Broadway (1, 2, 3, trains), and the Eight Avenue Line (A, B, C, D trains), which runs along Central Park West. In addition, there are five bus lines that go up and down the Upper West side, as well as cross-town lines at every major intersection (M5, M104, M7, M11, and M10).

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