57 WEST 10 TH STREET 23 UNIT ELEVATOR APARTMENT BUILDING 3 BLOCKS FROM WASHINGTON SQUARE PARK

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1 FOR SALE PROPERTY INFORMATION Location: Located on the north side of West 10th Street between 5th & 6th Avenue. Block / Lot: 574 / 72 Lot Dimensions: 21.92' x 94.76' (approx.) Lot Size: 2,077 sq. ft. (approx.) Floors: 8 + PH Units: 23 Residential Units: 22 Commercial Units: 1 Building Dimensions: 21.92' x 84' (approx.) Gross Square Footage: 12,874 sq. ft. (approx.) Zoning / FAR R6/ 2.43 Landmark: Greenwich Village Historic District Taxes (18/19): $204,845 PROPERTY DESCRIPTION is pleased to offer the opportunity to purchase the property at 57 West 10th Street in the heart of Greenwich Village. This pre-war building is approximately 12,874 SF and is located on the north side of West 10th Street between Fifth and Sixth Avenues. The building is built 22 ft x 84 ft on a 22 ft x ft lot. The asset is a 9-story, 22 wide, 23 unit, elevator serviced building in prime Greenwich Village. The building is comprised of 8 studios, 11 one-bedroom units, 3 two-bedroom units and the Italian restaurant Osteria 57 on the ground floor. Of the 22 apartments, 2 are Rent Controlled, 5 are Rent Stabilized and the remaining 15 units are Fair Market. With nearly 70% of the units being Fair Market, this allows an investor the opportunity to renovate the apartments and common areas to capitalize on increased cash flow in year one. Additionally, the remaining rent regulated apartments offer potential for significant rental increases when brought to market levels as they are only achieving ~32% of market. The property is zoned R6 and is overbuilt per current zoning. The location of 57 West 10th Street is heavily sought after by New Yorkers and is considered the most desirable block of the neighborhood. It is in close proximity to the New School, NYU, nightlife, fine dining destinations, and all major subway lines at Union Square. This is a rare opportunity to acquire an elevator apartment building in the highly coveted submarket of Greenwich Village. Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions,

2 COMMERCIAL REVENUE UNIT TENANT EXPIRATION NOTES STORE Osteria 57 (Restaurant) APPROX. SIZE (SF) $/SF 4/30/25 1,275 $87.25 $ 9,270 TOTAL 1,275 $ 111,240 RESIDENTIAL REVENUE UNIT TYPE LEASE STATUS TENANT STATUS APPROX. SIZE (SF) LEASE EXPIRES 1AF STUDIO FM Occupied 200 7/31/2019 $ 2,650 1BC STUDIO RS Occupied 300 2/28/2019 $ 2,295 1CR 1BR FM Occupied 600 7/31/2019 $ 3,795 2AF 1BR FM Vacant 400 7/31/2018 $ 3,395 2BC STUDIO FM Occupied 300 5/31/2019 $ 2,370 2CR 1BR RC Occupied /31/2060 $ 659 3AF 1BR RS Occupied 400 4/30/2018 $ 2,127 3BC STUDIO FM Occupied 300 5/31/2019 $ 2,425 3CR 1BR RC Occupied /31/2060 $ 782 4AF 1BR FM Occupied 400 8/31/2019 $ 3,450 4BC STUDIO FM Occupied 300 8/31/2019 $ 2,350 4CR 1BR RS Occupied 600 5/31/2020 $ 1,017 5AF 1BR FM Occupied 400 7/31/2019 $ 3,595 5BC STUDIO FM Occupied 300 9/30/2018 $ 2,400 5CR 1BR RS Occupied 600 4/30/2020 $ 1,091 6AF 1BR RS Occupied 400 6/30/2019 $ 1,528 6BC STUDIO FM Occupied 300 4/30/2019 $ 2,495 6CR 2BR FM Occupied 600 5/31/2019 $ 4,150 7AF 1BR FM Occupied 400 6/30/2019 $ 3,500 7BC STUDIO FM Occupied 300 6/30/2020 $ 2,650 7CR 2BR FM Occupied 600 4/30/2019 $ 4,795 PH 2BR FM Occupied 700 3/31/2019 $ 5,400 TOTAL 9,600 $ 58,919 TOTAL ANNUAL REVENUE $ 818,268 Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions,

3 INCOME & EXPENSE ANALYSIS GROSS ANNUAL INCOME $ / SF % EGI GROSS RESIDENTIAL RENT $ % $707,028 GROSS COMMERCIAL RENT $ % $111,240 GROSS INCOME $63.56 $818,268 VACANCY/COLLECTION LOSS 3% ($24,548) MCI & SCRIE ($995) EFFECTIVE GROSS INCOME $61.57 $792,725 EXPENSES (ESTIMATED) R.E. Taxes (18/19) $ % $204,845 Fuel - Gas $1.12 2% $14,400 Insurance $0.71 1% $9,200 Water and Sewer $1.11 2% $14,297 Electric (Common areas Only) $ % $2,989 Repairs & Maintenance ($550/Unit) $0.98 2% $12,650 Super $0.61 1% $7,800 Management Fee $1.85 3% $23,782 TOTAL EXPENSES $ % $289,963 NET OPERATING INCOME $502,762 LEASE STATUS MIX RESIDENTIAL UNIT BREAKDOWN % OF TOTAL RENT TOTAL AVG. RENT Total Residential Units - $58, $2,678 Total RC Units 9% $1,441 2 $720 Total RS Units 22% $8,057 5 $1,611 Total FM Units 65% $49, $3,295 RENTAL ANALYSIS BY UNIT TYPE TYPE % OF TOTAL RENT TOTAL AVG. RENT Studio 36% $19,635 8 $2,454 1 Bedroom 50% $24, $2,267 2 Bedroom 14% $14,345 3 $4,782 Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions,

4 PROPERTY PHOTOS (TYPICAL FM UNIT RENOVATIONS) Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions,

5 AERIAL MAP Union Sq. Park Washington Sq. Park Mt. Sinai Beth Israel Tisch School of the Arts New York University TAX MAP WEST 11 TH STREET 5 TH AVENUE 6 TH AVENUE WEST 10 TH STREET Copyright No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions,