256 W 88th Street New York, NY

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1 256 W 88th Street New York, NY Vacant 5 Unit Mixed-Use Building Currently a Clean Shell Includes: proposed plans to convert to a single family townhouse Listing Price: $4,775,000 (PSF: $1,129) Annual Taxes: $34,500 Monthly Taxes: $2,875 Included here are four proposed configurations, including the ability to add approximately 1,085 sf of additional FAR. Configuration #1 Conversion to Single Family Townhouse Configuration #2 Five Family + Commercial Space Configuration #3 Two Family + Commercial Space Configuration #4 Owner Occupied 3 Bedroom Duplex with Garden Access + 5th Floor Duplex with Elevator Kristin Thomas-Senior The Thomas-Senior Team Licensed Associate Real Estate Broker kthomas@compass.com m:

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3 Building Information Block & Lot Building Type Zoning FAR Building Class Delivered Vacant Year Built Style 1235 / 156 Brownstone / Row-House R10A 2.33 Built / 10 MAX S5 Yes Early 1900 s Renaissance Revival Exterior Three-bay smooth ashlar bow front above the parlor story, capped by an ornamental pressed metal gable and peaked roof Location Located between Broadway & West End Avenue in the Upper West Side Neighborhood in Manhattan Historic District Yes, Riverside Drive - West End Historic District Transportation One block away from the 1 Train at 86th Street Station; Three blocks from the B & C trains

4 Current Configuration Open Floor Plan The building has been opened up into a clean shell and layout. It is currently configured with an unfinished basement, a commercial space on the garden level, and 3 full-floor open spaces above. All previous interior walls and fixtures have been removed on the parlor floor, third floor, and fourth floor. Current Building Layout Building Size & Built SF Backyard Size Lot Size & Lot SF Stories 18 X 73 4,228 SF 18 X SF 18 X , 812 SF 4

5 Configuration #1 Conversion to Single Family Townhouse (Adding FAR) Converting this multi-family, mixed-use building into a single-family home while utilizing the additional allowable FAR will create a quintessential Upper West Side townhouse for today s modern family. By extending the rear facade and adding a set-backed fifth floor, nearly 1,085 additional livable square feet can be added. This extension allows for an expansive 5,313 square foot, five bedroom house, with a fifth floor media room that can be converted into a sixth bedroom. Highlights and Features: Elevator Laundry Room Roof Deck Gym Recreation/Media Room Sauna Rooftop Hot Tub Wine Cellar Building Size & Built SF Additional SF Backyard Size Lot Size & Lot SF Stories Beds Baths: 6 Full / 3 Half 18 X 70 5,313 SF 1,085 SF 18 X SF 18 X ,812 SF 5 5 ( Convertible 6 ) 6 Full / 3 Half Building Set-up: Basement Finished basement Gym Wine Cellar Storage Mechanicals 1st Floor (Garden Level) Guest Bedroom + Ensuite Bathroom Powder Room Open Kitchen Informal Dining Area Living Room Backyard 2nd Floor (Parlor Level) Formal Dining Room Formal Living Room Half Bath Rear Deck 3rd Floor Master Bedroom with En-Suite Bathroom Two Walk-in- Closets Bedroom #2 with Full En-Suite Bathroom 4th Floor Bedrooms #3 & #4 with Full En-Suite Bathrooms Sitting Room Laundry 5th Floor Room Recreation Room / Converted Bedroom #6 Roof Terrace Sauna Hot Tub

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7 Configuration #2 Five Family + Commercial Space Revert to Four Studios Apartments & 1 Bedroom Apartment with Standard Finishes + Ground Floor Commercial Unit (Current FAR) Building Size & Built SF Backyard Size Lot Size & Lot SF Stories 18 X 73 4,228 SF 18 X SF 18 X , 812 SF 4 Building Set-up: Basement Unfinished dry cellar Storage Mechanicals 1st Floor (Garden Level) Commercial / Retail Tenant 3rd Floor 2 Studio apartment + 1 Bathroom each 4th Floor 2 Studio apartment + 1 Bathroom each 2nd Floor (Parlor Level) 1 Bedroom / 1 Bath Unit Layout Projected Rent Projected Annual Storefront Open store with bathroom $8,000-10,000 $96, ,000 2nd Floor 1 BD / BA $4,000-4,200 $48,000-50,400 3rd Floor 2 Studios $2,900-3,250 Each $34,800-39,000 Each 4th Floor 2 Studios $2,900-3,250 Each $34,800-39,000 Each Total 5 Family + Store $23,600-27,200 $283, ,400

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9 Projected Rent Roll for Proposal #2: Total Combined Income: Projected Monthly Rent: Projected Annual Rent: $23,600-27,200 $283,200- $326,400 Total Square Footage: 4,228 Commercial Unit: Approx. 935 SF Projected Monthly Rent Projected Annual Rent Projected Annual PSF: $8,000-$10,000 $96,000-$120,000 $96.00-$ PSF Unit 1: Parlor Floor 1 Bedroom with Terrace & Private Access to Outdoor Space 935 SF +/- Examples of Comparable Rented Units: Projected Monthly Rent Projected Annual Rent Projected Annual PSF $4,000-$4,200 $48,000-$50,400 $48.00-$50.00 PSF 264 W 73rd St, Unit Parlor $3,950 Four Studio Apartments with low-mid-grade finishes: Combined Studios Unit 2-5: Projected Monthly Rent Projected Annual Rent Projected Annual PSF / Studio $2,900-$3,250 $11,600-$13,000 $139,200-$156,000 $60.00-$68.00 PSF Examples of Comparable Rented Units: 155 W 82nd St, Unit Parlor $3,295 - Studio (furnished) 311 W 87th St, Unit 2F $3,200 - Studio/ 600 SF 311 W 87th St, Unit 3R $3,200 - Studio/ 600 SF 29 W 89th St, Unit 4 $3,000 - Studio

10 Configuration #3 Two Family + Commercial Space Three-bedroom Duplex with Garden Access, along with a Two-bedroom Penthouse-level Duplex, plus Ground-level Commercial Unit Building Size & Built SF Added SF Backyard Size Lot Size & Lot SF Stories Highlights and Features: Additional 1,085 SF & penthouse level Add keyed elevator and renovate with mid-high end finishes & landscaped outdoor space 18 X 70 5,313 SF 1,085 SF 18 X SF 18 X ,812 SF 5 Building Set-up: Basement Unfinished dry cellar, Storage, Mechanicals 1st Floor (Garden Level) Commercial / Retail Tenant 2nd Floor (Parlor Level) & 3rd Floor Duplex 3 Bedroom 4th Floor & added 5th Level: Duplex 2 bedroom Unit Layout Projected Rent Projected Annual Storefront Open store with bathroom $8,000-10,000 $96, ,000 2nd & 3rd Floor Duplex 3 bedroom $7,500-12,000 $90, ,000 4th & 5th Floor Duplex 2 bedroom $7,200-12,000 $86, ,000 Total 2 Family + Store $22,700-34,000 per month $272, ,000

11 Projected Rent Roll for Proposal #3: Total Combined Income: Projected Monthly Rent: Projected Annual Rent: $23,600-27,200 $283,200- $326,400 Total Square Footage 4,228 Commercial Unit: Approx. 935 SF Projected Monthly Rent Projected Annual Rent Projected Annual PSF: $8k-$10k $96k-$120k $74.00-$92.00 PSF Unit 1: 3 Bedroom Duplex with Private Terrace & Yard SF +/- Examples of Comparable Rented Units: Projected Monthly Rent Projected Annual Rent Projected Annual PSF Unit 2: 2 Bed + Penthouse with Private Terrace SF +/- Projected Monthly Rent Projected Annual Rent Projected Annual PSF $7,500-$12,000 $90,000- $144,000 $37.50-$60.00 PSF $7,200-$12,000 $86,400-$144,000 $53.50-$89.00 PSF 234 W 75th St, Unit 3 Bed / 3.5 Bath / 1,800 SF 20 X 100 building with modern basic finishes, and access to backyard duplex which include garden level. $12, W 88th St, Unit 2 3 Bed / 2.5 baths / 2000 SF 2nd and 3rd floor duplex, lower end finishes, needs updating $7,500 Examples of Comparable Rented Units: 46 W 89th St, Unit 5 $11, W 68th St, Unit 4 2 bed / 2 bath / 2000 SF Walk-up, no elevator. Basic renovations $7,200

12 Configuration #4 Owner Occupied 3 Bedroom Duplex Garden Access + 5th floor Penthouse Duplex with Elevator Projected $18k-$22k / mo. ($216k-264k / year) in rental income (not accounting for operating expenses) from commercial unit + Penthouse level Duplex.

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