FOR SALE. 351 GREENWICH AVENUE, GREENWICH, CONNECTICUT Prime Mixed-Use Property 3,691 SF / Retail and Apartments

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1 FOR SALE 351 GREENWICH AVENUE, GREENWICH, CONNECTICUT Prime Mixed-Use Property 3,691 SF / Retail and Apartments PROPERTY HIGHLIGHTS Located on the Busiest Block Upper Floors Expansion Possible Can Be Delivered Vacant Perfect for User One block from Train Station 19 Feet of Frontage Great Ceiling Heights Roof Top Decks Possible First Time Offered in More than 50 Years Rear Access for East Deliveries Bill Mason (203) Bill@GreenwichCommercial.com

2 Greenwich Financial Center Tiffany Nails GREAT STUFF 351 GREENWICH AVENUE, GREENWICH, CONNECTICUT

3 BUILDING & SITE INFORMATION LOCATION The building is located at 351 Greenwich Avenue nestled between arguably busiest shops on the Avenue - Starbucks to the north and Richard s to the south. Other nearby tenants include Tesla, Apple, Restoration Hardware and Athleta CONSTRUCTION The three story building was constructed in 1928 using brick and wood framing. The front portion of the flat roof consists of built-up roof with a silver coating and was installed in The rear roof is a modified bitumen that was installed in 2007 BUILDING SYSTEMS Electric: a new 3-phase 400 amp service was installed in 2007 HVAC - New system was installed in 2007 for the retail space. The residential units are heating with hot water via a furnace and hot water tank located in the basement. RECENT IMPROVEMENTS & REPAIRS Replaced roof surrounding basement Bilco door $13,304. Installed new 50-gallom water tank 1,934. New Front door with frosted glass 3,323. Installed New Furnace 7,282 BUILDING EXPANSION The property is 1,995 SF (19 x 105 ) and enjoys the benefit of having a rear building line at the 90 mark. The rear building line enables the second and third floors to be expanded to 1,710 SF (19 x 90 ) which would increase the total building area to 6,275 SF (including basement). Additionally, the out cove on the first floor can be eliminated adding 72 SF bringing the total building area to 6,347 SF TENANCY The first floor and basement is leased to fashion retailer Free People of division of Urban Outfitters. The Free People lease expires July 31, 2017 and they have not exercised the 5-year option to extend the lease. Free People pays $114 PSF based upon 1650 SF. The second and third floors each have one 3-bedroom apartment which are leased on a month-to-month basis. The rent for each apartment is $1,300 per month. Tenants pay for their own utilities except water and heat. ZONING The property is located with the CGBR zone which permitted use on the first includes retail, restaurants and personal services among others. Permitted uses on the second floor include retail, personal services, real estate, insurance and travel agencies, residential and with parking general office use. The third floor is restricted to residential use PROPERTY TAXES The current annual property real estate taxes are $21,455 BUILDING AREA Third Floor: 988 SF (19 x 52 ) Second Floor: 988 SF (19 x 52 ) First Floor 1,715 SF (19 x 94 ) Basement 1,140 SF (19 x 60 ) Total 4,831 SF

4 Approximate Property Line Retail First Floor EXPANSION AREA 722 SF KITCHEN LIVING ROOM GREENWICH AVENUE Second Floor (conceptual) LIVING ROOM EXPANSION AREA 722 SF KITCHEN Third Floor (conceptual)

5 351 GREENWICH AVENUE, GREENWICH, CONNECTICUT 06830

6 Proforma Income Statement Based on Market Rents Proforma Income Statement w/upper Floor Renovations 351 GREENWICH AVENUE, GREENWICH, CONNECTICUT 06830