40, ,000 RSF AVAILABLE Full Floors from 21,000 RSF

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Stella Casey
6 years ago
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parking for 580 cars Spectacular panoramic views Building-within-a-building control; dedicated entrance, lobby, elevators and systems

3 Tap into the region s most accessible, centrally located, Class A opportunity. 40, ,000 RSF AVAILABLE Full Floors from 21,000 RSF Outstanding mass transit & highway access; E & F subways at front door Garage parking for 580 cars Spectacular panoramic views Building-within-a-building control; dedicated entrance, lobby, elevators and systems Headquarters opportunity; building name and branding available Efficient center-core floors Major capital improvements planned Significant as-of-right economic incentives Strong, stable on-site owner / manager

4 VIEWS

5 LOCATION MIDTOWN MANHATTAN 17 MINS. MANHATTAN WHITE PLAINS 35 MINS. STAMFORD 40 MINS. LAGUARDIA 11 MINS. GARDEN CITY 20 MINS. QUEENS NASSAU DOWNTOWN BROOKYLN 20 MINS. BROOKLYN JFK 11 MINS.

MANHATTAN Queensboro Bridge Triboro Bridge Queens Midtown

ASTORIA STEINWAY JACKSON HEIGHTS WOODSIDE LONG ISLAND EXPY

Terrace Queens on the Park College MASPETH RIDGEWOOD

Park E F Plaza GLENDALE COLLEGE POINT Citifield CORONA

WOODHAVEN Whitestone Bridge E F VAN WYCK EXPY Aqueduct

GARDENS JFK AirTrain RICHMOND HILL Throgs Neck Bridge

EXPY CROSS ISLAND PKWY BAYSIDE HOLLIS St.

6 MANHATTAN Queensboro Bridge Triboro Bridge Queens Midtown Tunnel LONG ISLAND CITY BROOKLYN THE BRONX QUEENS BLVD ASTORIA STEINWAY JACKSON HEIGHTS WOODSIDE LONG ISLAND EXPY JACKIE ROBINSON PKWY GRAND CENTRAL PKWY Terrace Queens on the Park College MASPETH RIDGEWOOD LaGuardia Airport ELMHURST REGO PARK FOREST HILLS Rego Park E F Plaza GLENDALE COLLEGE POINT Citifield CORONA Arthur Ashe Stadium Flushing Meadows Corona Park LIRR E F WOODHAVEN Whitestone Bridge E F VAN WYCK EXPY Aqueduct Racetrack FLUSHING QUEENS JAMAICA KEW LIRR York College GARDENS JFK AirTrain RICHMOND HILL Throgs Neck Bridge WHITESTONE Borough Hall/ Courthouse OZONE PARK CLEARVIEW EXPY CROSS ISLAND PKWY BAYSIDE HOLLIS St. John's University LIRR BELLROSE GRAND CENTRAL PKWY ST. ALBANS John F. Kennedy International Airport Belmont Park

GRAND CENTRAL PKWY E F M R Forest Hills / 71st Ave 678 VAN WYCK

Ave QM1 QM5 E F QM6 QM7 QM8 QM21 X63 X64 QM18 X68 UNION TURNPIKE 46

Turnpike / Queens Boulevard 25 UNION TURNPIKE JACKIE ROBINSON PKWY

7 GRAND CENTRAL PKWY E F M R Forest Hills / 71st Ave 678 VAN WYCK EXPWY QM Forest Hills QUEENS BLVD AUSTIN STREET LIRR 75th Ave QM1 QM5 E F QM6 QM7 QM8 QM21 X63 X64 QM18 X68 UNION TURNPIKE 46 QM1 QM5 QM6 QM7 QM8 GRAND CENTRAL PKWY E F Kew Gardens Union Turnpike / Queens Boulevard 25 UNION TURNPIKE JACKIE ROBINSON PKWY 37 Kew Gardens QM18 LIRR AUSTIN STREET 25 QUEENS BLVD QM21 X63 X64 X68

9 FLOOR PLANS Typical Floors 2-5 Core & Shell Plan 21,107 RSF MECHANICAL 1 4 STAIR "A" WOMEN 2 3 MEN ELEC. TEL. ELEC. TEL. STAIR "B" Typical Floors 6-8 Core & Shell Plan 21,808 RSF MECHANICAL N 1 4 STAIR "A" WOMEN 2 3 MEN ELEC. TEL. ELEC. TEL. STAIR "B"

10 ELEVATOR FLOOR PLANS Floor 9 Core & Shell Plan 21,659 RSF MECHANICAL 5 8 STAIR "A" MACHINE 6 7 WOMEN MEN ELEC. TEL. STAIR "B" Typical Floors Core & Shell Plan 22,395 RSF MECHANICAL N 5 8 STAIR "B" 6 7 MEN WOMEN ELEC. TEL. STAIR "A"

11 Executive Office Layout 82 SEATS 65 Workstations 17 Offices MECHANICAL N

12 Perimeter Office Layout 97 SEATS 55 Workstations 42 Offices MECHANICAL N

13 Open Office Layout 175 SEATS 163 Workstations 12 Offices MECHANICAL N

14 LOBBY PLAN AVAILABLE SPACE N

CAPITAL IMPROVEMENTS Ownership s commitment to a significant capital improvement program will be implemented at Forest Hills Tower to provide Class A systems and services to tenants and to reinforce

15 CAPITAL IMPROVEMENTS Ownership s commitment to a significant capital improvement program will be implemented at Forest Hills Tower to provide Class A systems and services to tenants and to reinforce the building s preeminent position in the market. Planned improvements include: Operating Systems New energy efficient HVAC system New building management (BMS) system New sprinkler system Upgraded Class E fire alarm system New building security system Recently updated elevator mechanicals Aesthetic Upgrades New elevator cab interiors New concierge desk Renovated and updated Queens Boulevard entry pavilion Elegantly renovated Queens Boulevard lobby Enhanced 78th Crescent entranceway and lobby Upgraded exterior plaza and patio areas New interior and exterior landscaping New exterior building signage New exterior and interior way finding signage

16 Proposed Queens Boulevard Entrance Upgrade Proposed 78th Crescent Entrance and Plaza Upgrades

17 Prospective Multi-tenant Lobby Prospective Single Tenant Lobby

18 STACKING PLAN 40, ,000 CONTIGUOUS RSF AVAILABLE Building-within-a-building potential (floors 1-8) Building name and branding available Efficient center-core floors Garage parking for 580 cars Spectacular panoramic views Square Footage Floor ,395 RSF 22,395 RSF 21,659 RSF 21,808 RSF 21,808 RSF 21,808 RSF 21,107 RSF 21,107 RSF 21,107 RSF 21,107 RSF ,027 RSF 1 Queens Blvd. Entrance 78th Crescent Entrance

19 SPECIFICATIONS Address: Queens Boulevard Forest Hills, NY Stories: 17 Total Office Area: 375,000 RSF Expansion Opportunities: Additional FAR available (10,000 s.f.) Building Entrance: Two separate entrances and lobbies One can be dedicated to a major tenant Access: 24/7 access Passenger Elevators: 4 dedicated low-rise elevators (Floors 1-8), one of which also serves the parking levels 4 dedicated high-rise elevators (Floors 9-17) 1 dedicated elevator serving lobby and parking levels HVAC Hours of Operation: Monday through Friday 8:00 AM 6:00 PM Extended hours available Electric Capacity: Six (6) watts per usable square foot, submetered Additional power available Generator: Building generator can be made available for tenant use Locations for additional tenant generators can be provided Telecommunications: Fiber optic, broadband and cable services provided by Verizon, Time Warner and RCN Amenities: On-site garage with 580 public and reserved spaces Dedicated 10,000 SF terrace (tenant-controlled) Outdoor plaza and seating areas Lobby newsstand Additional ground floor retail and reception space available Transportation: Subways: E and F trains at building entrance Buses: QM1, QM5, QM6, QM7, QM8, QM18, QM21, X63, X64 and X68 buses at building entrance; Short walk to QM11 Rails: Jamaica Station LIRR and AirTrain to JFK are two E train stops directly from the building; Short walk to Kew Gardens LIRR station Highways: Immediate highway access to Van Wyck Expressway, Long Island Expressway, Grand Central Parkway, Jackie Robinson Parkway, Brooklyn Queens Expressway, Whitestone Expressway and Union Turnpike Travel Times: JFK Airport: 11 Mins. LGA Airport: 11 Mins. Midtown Manhattan: 17 Mins. Downtown Brooklyn: 20 Mins. Garden City: 20 Mins. White Plains: 35 Mins. Stamford: 40 Mins.

20 ECONOMIC INCENTIVES ECONOMIC INCENTIVES Generous as-of-right municipal incentives savings are available to companies that locate in Queens. These incentives can be worth more than $15.00 per square foot annually, in most cases for the duration of a company s lease. As-of-right incentives programs include REAP, real estate tax programs (ICAP, CEP), energy incentives (ECSP) and CRT exemption. Additional discretionary incentives that may be available under certain circumstances could include cash grants, exemption from sales tax on project related purchases, additional energy savings from Con Edison, reduced payments in lieu of real estate taxes and low interest financing. NET EFFECTIVE 10-YEAR RENT AFTER MUNICIPAL INCENTIVES Location Forest Hills Tower Midtown Downtown Long Island Rent and Concessions Base Rent (Yrs 1-5) $35.00 $60.00 $40.00 $30.00 Base Rent (Yrs 6-10) $38.00 $65.00 $45.00 $33.00 Free Rent after Construction 6 months 3 months 6 months 4 months Work Letter $40.00 $50.00 $45.00 $30.00 Illustrative Financial Impact Average Annual Escalated Rent per RSF $33.38 $62.03 $40.32 $30.13 Average Annual Incentives Benefit per RSF ($18.50) $0.00 ($2.30) $0.00 Net Effective 10-year Rent after Incentives $14.89 $62.03 $38.02 $30.13 As-of Right Incentive Programs Jobs REAP Real Estate Taxes ICAP CEP CRP Energy Savings ECSP LMEP Other Sales Tax Rebate CRT Exemption NOTES: (1) REAP benefit assumes a density of 1 employee per 200 RSF, which equates to $15.00 per rsf at $3,000 annual tax credit per employee. (2) Net effective 10-year rent after incentives accounts for the rent, operating expense escalations, real estate tax escalations, and occupancy tax (applicable only for Midtown & Downtown) over the 10-year term, net of concessions. (5 years)

21 NYC Relocation and Employment Assistance Program (REAP) A 12-year tax credit (refundable in the first 5 years) of $3,000 per job per year for each job relocated to Queens. [1] Additional discretionary incentives may include: Cash Grants Can be provided as incentive to attract or retain a company. Exemption from NYC Commercial Real Estate Occupancy Tax (CRT) Companies locating in Queens are exempt from this tax paid by Manhattan based companies, totaling approximately 3.9% of all rent payments. Real Estate Tax Savings NYC Commercial Expansion Program (CEP) Provides a 5-year credit for a portion of the real estate taxes levied on the property. This benefit is passed through directly to the tenant company, dollar-fordollar, for any new, renewal or expansion leases. [2] NYC Industrial and Commercial Abatement Program (ICAP) Provides partial real estate tax exemptions on the increased value of property improved by at least 30% of its assessed value for up to 25 years. The benefit is available to property owners and tenants making investments such as a new interior build-out. Low Cost Electricity The City s Energy Cost Savings Program (ECSP) provides a discount of as much as 45% on the distribution portion of electric costs. [3] Sales Tax Exemptions Exemption from combined 8.875% NYS/ NYC/MTA sales tax on construction materials, furniture, fixtures and equipment purchases for the life of the lease. Additional Energy Savings from Con Edison s Business Incentive Rate (BIR) Program. [4] Payment in Lieu of Real Estate Taxes (PILOT) As part of a broader tenant retention or attraction package, New York City can negotiate a reduced and/or fixed payment schedule in lieu of real estate tax liability. Low-Interest Financing May be offered in certain circumstances. [1] REAP is available for any company relocating employees from outside New York City or from Manhattan south of 96th Street (REAP is discretionary for companies relocating from lower Manhattan). [2] This credit is equal to $2.50 per rsf for years 1-3, $1.67 in year 4 and $.88 in year 5. [3] ECSP is up to 12 years. [4] The Con Ed BIR is for up to 15 years. The BIR is available only for tenants receiving more comprehensive discretionary incentives from NYC.

22 Queens Boulevard Forest Hills, NY foresthillstower.com Peter Riguardi Kenneth Siegel William Korchak Ray Ruiz Howard Hersch Kyle Crennan All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof. Concept: Sun & Moon Marketing

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