We BIZZNIFI. Connecting Creating Featuring

Transcription

1 We BIZZNIFI Connecting Creating Featuring REAL ESTATE DEVELOPMENT ROUNDTABLE May 3, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 1

2 12th Ave Riverside Dr Claremont Ave Park Ave Lexington Ave West Harlem Piers Park West Harlem Piers Marginal St 1 Riverside Park W 130th St Cotton Club Grant Mem l Riverside Dr 2 W 132nd St W 129th St Tiemann Pl Sakura Park Broadway 1 W 131st St Old Broadway La Salle St W 122nd St W 121st St W 120th St W 125th St Columbia University W 126th St Amsterdam Ave Amsterdam Ave W 129th St W 128th St 3 City College of New York W 130th St W 127th St Morningside Ave W 131st St W 130th St W 128th St W 126th St E 126th St W 124th St W 123rd St W 123rd St Morningside Park W 119th St 4 A B Manhattan Ave C D 5 6 W 121st St W 120th St W 119th St Frederick Douglass Blvd W 132nd St W 125th St Aloft Harlem Hotel Apollo Theater Saint Nicholas Ave Victoria Theater 12 Atmos Shoes Hotel Theresa W 122nd St W 121st St W 119th St E 127th St E 132nd St E 131st St E 130th St W 129th St E 129th St Lenox Ave 2012 Annual Ridership: 4,635,697 people W Mount Morris Park New York Public Library- Harlem 5th Ave National Black Theater Marcus Garvey Park Ave Madison E 129th St MTA Metro North E 120th St E 119th St E 128th St Lexington Ave E 125th St 3rd Ave Third Ave Brg Harlem River Park E 128th St E 124th St E 123rd St E 122nd St E 121st St E 120th St E 119th St E 127th St E 126th St River Dr Harlem 2nd Ave 31 E 124th St 1st Ave Willis Ave Brg # Development Address # Development Address # Development Address 1 12th Ave Viaduct - In Development West 125th St. - In Development West 125th St. - In Development West 125th St. - In Development West 125th St. - In Development West 125th St. - Completed West 125th St. - Completed West 125th St. - Completed West 125th St. - Completed Frederick Douglass Blvd. - Completed West 125th St. - Completed West 125th St. - In Development West 125th St. - In Development West 125th St. - In Planning West 125th St. - Completed West 125th St. - Completed West 125th St. - Completed West 125th St. - Completed 19 6 West 126th St. - Completed East 125th St. - Completed East 125th St. - Completed East 125th St. - Completed east 125th St. - Completed Park Ave. - In Planning East 125th St. In Development East 125th St. - In Planning East 125th St. - Completed East 125th St. - Completed East 125th St. - In Development East 125th St. - In Planning Second Ave. - In Planning MTA Lines 1 Broadway - Seven Ave. Local 2 Seven Ave. Express 3 Seven Ave. Express A Eigth Ave. Express C Eigth Ave Local Central Park West Local/Six Ave. Express Six Ave. Express 4 Lexington Ave. Express 5 Lexington Ave. Express 6 Lexington Ave. Local/Pelham Express B D 125th Street Categories Residential Mixed Residential & Commercial Buildings Commercial & Office Buildings Industrial & Manufacturing Transportation & Utility Public Facilities & Institutions Parking Facilities Land Under Development Vacant Land 125B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 2

3 Purpose of the Report Bizznifi is the term owned by the 125 th Street Business Improvement District. The BID specifically defines BIZZNIFI as CONNECTING, CREATING, AND FEATURING business services and solutions for growing commercial districts. This first We Bizznifi Report has been compiled for those who invest on 125 th Street. It presents data, research and reports on 125 th Street vacancies, assessed values, development projects, and retail economy. We aim to present the facts about 125 th Street in order to better inform decisions for our stakeholders. 125 th Street Stakeholders Property Owners Developers Investors Retailers - Brokers 3 125B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 3

4 Pedestrian Counts (Footfall) The BID has collected pedestrian count on the southwest corner of 125 th Street and Frederick Douglass Blvd. for over 4 years Data Collection for all 4 corners of Lenox Avenue/Malcolm X Boulevard to commence B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 4

5 5 125B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 5

6 6 125B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 6

7 7 125B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 7

8 Analysis of Department of Finance Tentative Assessed Value Rolls FY19 (includes frontage, lot size, AV and exemptions data) Date Compiled for 125 th Street BID By Carmen Rosa: John Jay College April 24, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 8

9 AV Analysis Introduction This analysis takes a look at the Fiscal Year 2019 Tentative AV Rolls for 125 th Street. This goes into depth of the 97 properties that are within the 125 th Street BID Boundaries. This does not include the properties that are in the future expansion of the 125 th Street Business Improvement District boundaries. This analysis takes a closer look at properties that are exempted versus non-exempted, reasons for exemption of properties, lot size, depth, frontage, lot, and compares the amount in assessment value of properties that are exempted versus non-exempted B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 9

10 Blocks located with BID Boundaries Block Location th Street - Lenox Avenue to Fifth Avenue (southside) th Street Lenox Avenue to Fifth Avenue (northside) th Street Fifth Avenue southeast corner block th Street Fifth Avenue northeast corner block th Street Adam Clayton Powell Blvd to Lenox Avenue (southside) th Street Adam Clayton Powell Blvd to Lenox Avenue (northside) th Street Frederick Douglass Blvd to Adam Clayton Powell Blvd (southside) th Street Frederick Douglass Blvd to Adam Clayton Powell Blvd (northside) th Street St. Nicholas Ave. to Frederick Douglass Blvd. (southside) th Street St. Nicholas Ave. to Frederick Douglass Blvd. (northside) th Street Morningside to St. Nicholas Avenue (southside) th Street Morningside to St. Nichoas Avenue (southside) B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 10

11 Breakdown of Total Lot Sizes Per Block Lot Breakdown 17% 27% Block 1722 Block 1723 Block % Block % Block 1909 Block % 4% 10% 1% 1% 13% Block 1930 Block 1931 Block 1951 Block B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 11

12 Non-Exempted versus Exempted Properties Exempted Non-Exempted B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 12

13 Reasons for Tax Exemption Top Reasons for Tax Exemption 1. ICIP IND/Special Ex 2. NYS Urban Development (ESDC) Other Reasons for Tax Exemption 1. Post Office 2. State Land Buildings 3. Urban Development Act Project 4. Department of Real Estate (DCAS) 5. Charitable Philanthropy 6. Department of Small Business (SVCS) 7. House of Worship 8. Department of Education B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 13

14 Lot Size and Depth Lot Size Depth Total 977,838 Average 10,081 Median 5,500 Total 11,746 Average 121 Median B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 14

15 Assessment Values Assessment Values Total 403,901,597 Average 4,163,934 Median 1,922, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 15

16 Assessment Value by Block Total Amount of Assessment Value by Block Total Assessment Value Exemptions by Block 22,786,080 5,995,338 15,951, , ,792, ,654,610 2,667,028 3,579,977 20,769,460 26,613,855 28,480,363 4,553,775 55,741,475 66,977,785 65,254,933 53,386,686 46,687,497 50,953,588 BLOCK 1722 BLOCK 1723 BLOCK 1749 BLOCK 1750 BLOCK 1909 BLOCK 1910 BLOCK 1930 BLOCK 1931 BLOCK 1951 BLOCK B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 16

17 Tracking Vacancies on 125 th Street Fifth Avenue to Marginal Street 1. Vacancy Map 2. Vacancy Analysis (North Side) 3. Vacancy Analysis (South Side) 4. Storefront Vacancies and Development Sites Comparison Study (North Side)* 5. Storefront Vacancies and Development Sites Comparison Study (South Side)* *Includes current vacant space info B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 17

18 Vacant Store Front 2035 Fifth Avenue Vacancy (formerly Planet Fitness) Vacant Store Front 125th 124th National Black Theater, Crepe Master Legal Services NYC Gourmet. Checks Cashed FedEx Office White Castle. Dental Medical. NY Gourmet Deli, Bebeanoi Clothing Store Vacant store Front 284 Saint Nicholas Avenue Ripco Realty Phone number: (212) Vacant Store front 275 Saint Nicholas Ave RKF Group; Contact Young Kim Phone Number: (212) Columbia University Employment 5 East 125th Street Vacant Store Front 3 E 125th Street Check Cashing Fifth Ave Vacant Lot Vacant Store Front 1W. 125th Street Rockfield Group Phone Number: (212) x105 Vacant Store Front 3 W. 125th Street Rockfield Group Phone Number: (212) x105 Bed Bath and Beyond TJ MAXX New York & Company WE Works Harlem Liquor Wine and Spirits Buffalo Boss Harlem Pharmacy Piece of Velvet Yara Fabrics Adaya Casa Bonita Metro PCS Liberty Income Tax 2 Street Variety Children Aid Society Vacant Store Front 6 W 125th St Kassin Sabbagh Realty Contact: Dan Myers Phone number: (516) Dan@ksrny.com Harlem Furniture Perfect Hair Braiding Boost Mobile IB Sports Cap USA H & R Block Vacant Store Front 24W 125th Street RKF Contact Young Kim (212) ykim@rkf.com ABC Department Store Stevenland JC Wireless My Wellness Solutions Vacant Store Front- 28 W 125th Street RKF Contact Young Kim Phone number :(212) or at Golden Smile Pawn Shop 125th Delancy Leather Karma Mushtari Hardware Family Healthy Center Harlem Yoga Studio Hot Sexy Fit Jeans Lady Love Rite Aid Watkins Health Foods Black Ink Envy Nails T Mobile Vacant Store Front 48 W 125th Street Contact: Pee Dee Steakhouse Lola Development Site 54 W 125th Street -64 W 125th Street Vacant Store Front 66A W. 125th St Vacant Store Front Nicole 55 W 125th Vacant Store Front Cogswell Realty 68 W. 125th St. Phone Number: (212) FATA Realty Leasing@cogswellrealty.com Phone number: (212) Mannas Vacant Store Front 55 W 125th Vacant store Front Cogswell Realty 72 W 125th Street Phone number: (212) FATA Reality Leasing@cogswellrealty.com Phone Number (212) Chase Wing Stop Armed Force Recruiting Center Carver City MD Golden Ice Jewelers Checkers AT&T Starbucks Cohen Optical 124th Harlem Uniforms Lenox Avenue/Malcolm X Boulevard CVS Whole Foods Dunkin Donuts American Eagle Vacant Store Front Burlington Marshalls Olive Garden Staples Raymour and Flannigan TD Bank Urban League Development Site 121 W. 125th Street Construction Site Development Site nt Victoria's Secret 121 W. 125th Street Bath and Body Works (Coming Soon) Fino Golden Krust Paramount Edison Parking Burger King Kaarta African Fabrics AJS Gold and Diamond Beauty Feel Supply H & M 125th Jimmy Jazz Adam Clayto Powell Stae Office Building One Stop Furniture Shop Shan Jewerleres NYC Human Resource Department of Social Service Studio Museum Sculture Garden - Development Site Studio Museum - Development Site Vacant Store Front Kassin Sabbagh Realty Contact: Albert Manopla Phone Number: (212) Amanopla@ksrny.com Mc. Donald's Apollo Hair Center Metro PCS Lazarus Verizon 124th Matress Firm Adam Clayton Powell Street Boulevard/ 7th Avenue Citi Bank Vacant Store Front W 125th St Starbucks MAC Atmos Gold City Champs Sports Sprint Planet Fitness Bank of America Payless Ashely Stewart Cartr's Lane Bryant Emblem Health Neighborhood Center Bolton's and Strawberry GNC Touro College Kiss Popular Community Bank Platinum Jewelry of 125th St Inc. Apollo Beauty Land Ladies Dr. Jays Development Site - Victoria Theater Cell City Children's Place Aldo 125th Ballers Development Site-Victoria Theater - In Construction High Rollers Jimmy Jazz Vacant Store Front Portabella 256 W 125th St Cinderella Eyebrows Spa Solil Management Vacant Store Front Contact: Bret Weinlatt 249 W. 125th Street Phone Number: (212) Phone Number: (203) Game Stop Harlem USA Development Site-Mart West 125th Street Apollo Theater Banana Republic Factory Stores Gap Outlet Blick Art Materials Red Lobster House of Hoops Boost Mobile Kids Footlocker Adidas -Coming Soon Duane Reade Foot Action - Coming Soon 124th Frederick Douglass Boulevard / Eighth Avenue K & G. Buffalo Wild Wings, NY Sports Club. Capital One Bank TD Bank Party City Modell's Sporting Goods Blink Fitness Rainbow DSW Danice 125th Sister Aminata Hair Braiding Old Navy Angel Coming Soon - PC Richardson Coming Soon - College of New Rochelle/ Belizean Coming Soon - Beliaze Natural T-Mobile Orange Beauty Supply Vacant Store Front 319 W. 125th Street Chase 124th Fata Realty Development Site West 125th Street Wharton Property Popeyes Dollar Tree, Chuck E Cheese. MCU New Tang, Dunkin Donuts Saint Nicholas Avenue Vacant Store Front - Deli (coming soon) Perfect Brows Gem Pawnshop Harlem USA Nails Checkers Chase McDonald's Express $1 Depot 125th Street Business Improvement District Development Site 362 West 125th Street Rebdolls Vacant Store Front - ipizza (coming soon) Hip Hop Center/ Bill Payment Center Mount Sinai Harlem Commonwealth Council 125th City National Bank U.S. Post Office Manhattanville Station Showman's Little Caesars Hotel & Trade Union Pharmacy Surgical African Hair Braiding Capsule 124th Morningside Avenue St. Joseph Church of Holy Family General Grant Houses Dominos Pizza Vacant Store Front 409 W. 125th Street LM Development Partners Phone: (917) NYC FDNY Engine 37/Ladder 40 Key Food Level's Barber Shop Vacant Store Front 429 W. 125th Street LM Development Partners Phone: (917) Manhattan Borough President's Office/ Gale's Brewer Hardware Supply Inc. Foot Gear NYC Dental & Medical PC Harlem Natural Healing Holistic Health Force (ECDO) Ecumenical Community Development Organization 125th Dominican Streetyle Liberty Tax Service Vacant Store Front 447 W. 125th Street Good Health Family Pharmacy Vacant Store Front 449 W. 125th Street Urban Property Group Phone: (917) ben@upgnyc.com Vacant Store Front 451 W. 125th Street Harlem Deli Grocery Metro PCS Vacant Store Front 457 W. 125th Street LM Development Partners Phone: (917) ipolish Nails New Aroma Chinese Star Deli Inc. Millenia Rx Corp. Optical Nelson's Clearners 1341 Amsterdam Ave. -- Development Site Tasty Bakery Amsterdam Avenue Amsterdam Ave 124th Dunkin Donuts/ Baskin Robins Manhattanville Houses Boost Mobile Better Health Pharmacy Deli Corp. Laundromat Luis Furniture Harlem Square Church NYC Laundromat El Nueva Tina Restaurant El Puerto Seafood & Fish Market Antioch Baptist Church Antioch Day Care 125th St 99 Mart Blue Flame Our Children's Foundation 125th Franklin & Lenon Paint Co. Manhattan Pentecostal Church D'Morel Unisex Salon Corp Botanical Floristeria ASA Delicastessen and Grocery Inc. La Nacional Envios De Valores The Bridge Inc (Billing Dept.) New York Public Library The Bridge Inc (Aging and Veterans Service Dept.) C-Town Supermarket Cayuga Center-NYC Programs Vacant Store Front Wines Spirit 557 W 125th Street Duane Reade Old Broadway Avicenna Care Lincoln Fried Chicken Vacant Store Front 567/569 W. 125th Street Ripco Real Estate Phone: (212) Jason Pennington; jpennington@ripcony.com Jessica Hedrington; jhedrington@ripcony.com Go! Go! Curry USA Subways 124th Rite Check/Money Gram Bank of America Chase Duane Reade Broadway Columbia University Development Project Mc.Donald's 125th Lin Fest Cultural Center Prentis Hall 124th Cotton Club Twelfth Avenue Floritas Dinosaur BBQ Fairway 125th Vacant Store Front 124th 712 W 125th Street 18 Vacant Store Front 714 W 125th Street Vacant Store Front 716 W 125th Street Contact Andy at Andy@mtpinvest.com Marginal Street/Hudson River 125B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 18

19 A Review of Vacancies North Side of 125 th Street Between 5 th Avenue to Adam Clayton Powell Street Boulevard/7 th Avenue o Storefront Vacancies: 1 Between Adam Clayton Powell Street Boulevard/7 th Avenue to Morningside Avenue o Storefront Vacancies: 4 Between Morningside Avenue and Marginal Avenue/Hudson River o Storefront Vacancies: Between 5 th Avenue to Adam Clayton Powell Street Boulevard/7 th Avenue o Storefront Vacancies: 4 Between 7 th Avenue/Adam Clayton Powell Street Boulevard to Morningside Avenue o Storefront Vacancies: 7 Between Morningside Avenue to Marginal Avenue/Hudson River o Storefront Vacancies: Between 5 th Avenue to Adam Clayton Powell Street Blvd/7 th Avenue o Storefront Vacancies: 9 Between 7 th Avenue/Adam Clayton Powell Street Blvd to Morningside Avenue o Storefront Vacancies: 3 Between Morningside Avenue to Marginal Avenue/Hudson River o Storefront Vacancies: B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 19

20 Overview of 125 th Street on the North Side Total number of storefront vacancies between : 5 Total number of storefront vacancies between : 12 Total number of storefront vacancies between : 20 Since 2015 storefront vacancies appear to have increased. This increase has occurred in part due to: Development projects in the planning phase Renovations due to fire damages Total Building Renovations Required Renovations for New Tenants Many vacant storefronts were not available for leasing B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 20

21 Changes in Development Site North Side Changes in Development 1 In : 4 In : 4 In : 4 1 Changes in Development refers to the number of development sites or projects that have occurred within the 125 th Street perimeters over the years : Development Site Victoria Theater located in W. 125 th Street between 7 th Ave. / Adam Clayton Powell Street Blvd located between Popular Community Bank and Portabella. Development Site at 5-15 W. 125 th Street between 5 th Avenue and Lenox Ave./Malcolm X Blvd., Development Site - Urban League Development Site between Adam Clayton Powell St. Blvd/7 th Avenue and Lenox/Malcolm X Blvd. and Columbia University Development Project between Broadway and 12 th Ave : Development Site at 5-15 W. 125 th Street, Development Site with Urban League Development Site at 121 W. 125 th Street, Development Site Victoria Theater located in 233 W. 125 th Street between 7 th Avenue/Adam Clayton Powell St. Blvd between Popular Community Bank and Portabella, Development Site at 1341 Amsterdam Ave, Development Site with Columbia University in between Broadway and 12 th Avenue : Development Site at 121 W. 125 th Street with Urban League Development Site, Development Site at 233 W. 125 th Street between 7th Ave. / Adam Clayton Powell Street Blvd located between Popular Community Bank and Portabella, Development Site at 1341 Amsterdam Ave, and Development Site with Columbia University between Broadway and 12 th Avenue B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 21

22 Occupied Storefronts over the years (North Side) 2 Certain storefronts are counted into the data including the following: New York Fire Department, State Office Building, and several churches including: St. Joseph s Church of Holy Family, Scientology, Antioch Baptist Church and Manhattan Pentecostal Church B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 22

23 3 The numbers in the chart shown reflect the directions in 125 th street from Fifth Avenue to Morningside Avenue and include the expansionary projects of Morningside Avenue to Marginal Street/Hudson River. 4 The numbers in the chart shown reflect the directions in 125th street from Fifth Avenue to Morningside Avenue, but does not include the expansionary projects of Morningside Avenue to Marginal Street/Hudson River B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 23

24 Total Number of Storefronts on 125 th street presented: Between : 109 Between : 115 (6% Increase from ) Between : 134 (17% Increase from ) Analysis: Based on the data recorded and shown, there has been a general increase in occupied storefronts over the years. Some of these increases in occupied storefronts can be attributed to the following: increase in opening businesses in 125 th Street, the subdividing of properties, and an increase in development within 125 th Street. Another factor to mention is the progression of storefront occupancies between the Northside of 125 th street and the Southside of 125 th street differs, because of the occupancy of certain streets that may contain city or state owned such as the following: Adam Clayton Powell State Office Building, General Grant Houses, New York Fire Department, George Bruce Branch of the New York Public Library, and the Manhattan Borough President s Office. Those properties, while taken up by the public sector, can take up from a quarter of a block to a block and a half B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 24

25 5Due to uneven divisions of streets, the comparison charts for the following years will combine Amsterdam Avenue and Old Broadway of the Northside and will add them together as one complete block B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 25

26 A Review of Vacancies South Side of 125 th Street Between 5 th Avenue to Adam Clayton Powell Street Boulevard/7 th Avenue o Storefront Vacancies:7 Between Adam Clayton Powell Street Boulevard/7 th Avenue to Morningside Avenue o Storefront Vacancies:4 Between Morningside Avenue to Marginal Street/Hudson River o Storefront Vacancies: Between 5 th Avenue to Adam Clayton Powell Street Boulevard/7 th Avenue o Storefront Vacancies: 7 Between Adam Clayton Powell Street Boulevard/7 th Avenue to Morningside Avenue o Storefront Vacancies:4 Between Morningside Avenue to Marginal Street/Hudson River o Storefront Vacancies: Between 5 th Avenue to Adam Clayton Powell Street Boulevard/7 th Avenue o Storefront Vacancies: 8 Between Adam Clayton Powell Street Boulevard/7 th Avenue to Morningside Avenue o Storefront Vacancies: 4 Between Morningside Avenue to Adam Clayton Powell Street Boulevard o Storefront Vacancies: B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 26

27 Overview of 125 th Street on the South Side Total number of storefront vacancies between : 11 Total number of storefront vacancies between : 11 Total number of storefront vacancies between : 15 Changes in Development 1 In : 3 In : 3 In : 6 1 Changes in Development refers to the number of development sites or projects that have occurred within the 125th Street perimeters over the years. Changes in Developing Sites : Warton Realty Development site located in the corner of Lenox Ave/Malcolm X Blvd, Development Site 324 West 125 St at St. Nicholas Avenue and Development Site (Mart 125) by 260 West Frederick Douglass Blvd/8 th Ave between Gap and Harlem USA : Warton Realty Development site located in the corner of Lenox Ave/Malcolm X Blvd, Development Site 112 West 125 th Street located adjacent to Wharton Development Site 100 West 125, Development Site (Mart 125) 260 West 125 by Frederick Douglass Blvd/8 th Avenue between Gap and Harlem USA, and Development Site by the corner of St. Nicholas Avenue 324 West : Development Site between W, 125 th Street, Development Site on 112 W.125 th between Lenox Ave/Malcolm X Blvd between Whole Foods and Fino, Development Site on 144 (Studio Museum) W. 125 th between Lenox Ave/Malcolm X Blvd between NYC Human Resource Dept. of Social Service, Development Site on 260 W. 125 th between Harlem USA and Gap Outlet, Development Site on 324 W. 125 th St. between the 125 th St. Business Improvement District and Mount Sinai B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 27

28 125 th Street South Side 2 Certain storefronts are counted into the data including: General Grant Houses/Manhattanville Houses and New York Public Library George Bruce Branch B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 28

29 3 The following data includes the following streets from Fifth Avenue to Morningside Avenue including the expansionary project that is occurring between Morningside Avenue to Marginal Street/Hudson River. 4The numbers in the chart shown reflect the directions in 125th street from Fifth Avenue to Morningside Avenue, but does not include the expansionary projects of Morningside Avenue to Marginal Street/Hudson River B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 29

30 Total Number of Storefronts on 125 th Street South Side Between : 101 Between : 102 (increased by 1%) Between : 103 (increased by 1%) Analysis Based on the data recorded and shown, there has been a general increase in occupied storefronts over the years. Some of these increases in occupied storefronts can be attributed to the following: increase in opening businesses in 125th Street, the subdividing of properties, and an increase in development within 125th Street. Another factor to mention is the progression of storefront occupancies between the Northside of 125th street and the Southside of 125th street differs, because of the occupancy of certain streets that may contain city or state owned such as the following: Adam Clayton Powell State Office Building, General Grant Houses, New York Fire Department, George Bruce Branch of the New York Public Library, and the Manhattan Borough President s Office. Those properties, while taken up by the public sector, can take up from a quarter of a block to a block and a half B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 30

31 31 125B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 31

32 Storefront Vacancies and Development Sites Comparison Study From 5th Avenue to Marginal Street Includes available vacant store fronts B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 32

33 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Block Name 5th Ave to Lenox Ave Total Number of Store Fronts: 36 Number of Vacant Store Fronts in the Year of Vacant Store Fronts: (6, 18, 28, 32, & 48 West 125th st) 1 Development Site: (52-64 West 125th St) Number of Vacant Store Fronts in the Year of Vacant Store Fronts: (6, 28, 32, & 48 West 125th St) 1 Development Site: (52-64 West 125th St) New store added this year: Cap USA Number of Vacant Store Fronts in the Year of Vacant Store Fronts: (6, 24, 28, 48, 64, 68, & 74 West 125th St) 1 Development Site: (52-64 West 125th St) Location Square Footage New store added this year: Karma 6 West 125th St Lower Level: 5,548 Sq ft Ground Level: Mezzanine: 8,562 Sq ft 4,420 Sq ft 24 West 125th St Ground Floor : 1,785 Sq ft Basement: 1,000Sq ft 28 West 125th St Ground Floor : 1,785 Sq ft Basement: 1,000 Sq ft 48 West 125th St First Floor: 1,300 Sq ft Basement: 64 West 125th St Ground Floor: Basement: 1,000 Sq ft B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 33

34 Number of Vacant Store Number of Vacant Store Number of Vacant Store Fronts in the Year of Fronts in the Year of Fronts in the Year of Location Block Name th Ave to 5 Vacant Store Fronts: 4 Vacant Store Fronts: 68 7 West Vacant 125th Store Fronts: Basement: Lenox Ave (6, 18, 28, 32, & 48 West (6, 28, 32, & 48 West 125th (6, 24, 28, 48, 64, 68, & 74 Ground Floor: Continued 125th st) St) 74 West West 125th St) Basement: Total Number 1 Development Site: 1 Development Site: 1 Development Site: Ground Floor: Lenox of Store Ave Fronts: (52-64 West 125th St) (52-64 West 125th St) (52-64 West 125th St) to 0 Vacant Store Front 1 Vacant Store Front: 1Vacant Store Front: Adam 36 Clayton (120 West 125th St) (120 West 125th St) Powell Cool New store Cat went added out this of year: Cap USA Boulevard business Total Number of Store Fronts: 23 1 Development Sites: (100 West 125th St) 2 Development Sites: (100 West 125th St, 118 West 125th St) Ground Level: 8,562 Sq ft 120 West 125th St Basement: Mezzanine: 4,420 Sq ft 24 West 125th St Ground Floor: : 1,785 Sq ft 2 Development Sites: (Bath and Body works and Victoria's Secret coming soon; 118 West 125th St Development Site: Studio Museum: (144 West 125th St) Square Footage New store added this year: Karma 6 West 125th St Lower Level: 5,548 Sq ft Basement: 1,000Sq ft 28 West 125th St Ground Floor : 1,785 Sq ft Basement: 1,000 Sq ft 48 West 125th St First Floor: 1,300 Sq ft Basement: 64 West 125th St Ground Floor: Basement: 1,000 Sq ft B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 34

35 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Continued Adam Clayton Powell Boulevard to Frederick Douglass Boulevard Total Number of Stores Fronts:27 4 Vacant Store Fronts: ( West 125th St) 4 Vacant Store Fronts: ( West 125th St) New Stores added this year: Whole Foods, American Eagle, Burlington, Olive Garden, Raymour & Flanigan, and TD Bank) 2 Vacant Store Fronts: (200 & 254 West 125th St) 200 West 125th St Basement: Ground Floor: 254 West 125th St Basement: Ground Floor: B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 35

36 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Total Number of Store Fronts: 27 1 Development Site: (Mart 125; (260 West 125th St) 1 Development Site: (Mart 125; (260 West 125th St) 1 Development Site: (Mart 125; (260 West 125th St) Continued Frederick Douglass Boulevard to Saint Nichloas Ave Total Number of Store Fronts: 7 New Stores added this year: Kids Foot Locker, Adidas, Foot Action, & Aldo. 0 Vacant Store Fronts 0 Vacant Store Fronts 3 Vacant Store Fronts (275, 282, & 284 Saint Nicholas Ave) 275 Saint Nicholas Ave Ground Floor: 3,300 Sq ft Basement: 1,915 Sq ft 282 Saint Nicholas Ave Ground Floor: 2,850 Sq ft B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 36

37 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Block Name Frederick 5th Ave to Douglass Lenox Ave Boulevard to Saint Total Nichloas Number Ave of Store Fronts: 36 Saint Nicholas Ave to Morningside Ave Total Number of Store Fronts: 8 Number of Vacant Store Fronts in the Year of Vacant Store Fronts: (6, 18, 28, 32, & 48 West 125th st) 1 Development Site: (52-64 West 125th St) 1 Development Site: (324 West 125th St) Number of Vacant Store Fronts in the Year of Vacant Store Fronts: (6, 28, 32, & 48 West 125th St) 1 Development Site: (52-64 West 125th St) New store added this year: 1 Development Site: Cap USA (324 West 125th St) Number of Vacant Store Fronts in the Year of Vacant Store Fronts: (6, 24, 28, 48, 64, 68, & 74 West 125th St) 1 Development Site: (52-64 West 125th St) 284 Saint Nicholas Ave Ground Floor: 2,750 Sq ft New store added this year: 1 Development Site: Karma (324 West 125th St) 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts Location Square Footage (282 and 284 can be combined to a total of 5,600 Sq ft) 6 West 125th St Lower Level: 5,548 Sq ft Ground Level: Mezzanine: 8,562 Sq ft 4,420 Sq ft 24 West 125th St Ground Floor : 1,785 Sq ft Basement: 1,000Sq ft 28 West 125th St Ground Floor : 1,785 Sq ft Basement: 1,000 Sq ft 48 West 125th St First Floor: 1,300 Sq ft Basement: 64 West 125th St Ground Floor: Basement: 1,000 Sq ft B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 37

38 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Morningside Ave to Amsterdam Ave Total Number of Store Fronts: 0 Amsterdam Ave to Old Broadway Total Number of Store Fronts: 5 Old Broadway to Broadway Total Number of Store Fronts: 3 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 38

39 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street 12th Ave to Marginal River Total Number of Store Fronts: 3 0 Vacant Store Fronts 1 Vacant Store Front 3 Vacant Store Fronts (712, 714, & 716 West 125th St) 712 West 125th St Basement: Ground Level: 714 West 125th St Basement: Ground Level: 716 West 125th St Basement: Ground Level: B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 39

40 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Block Name 5th Ave to Lenox Ave Total Number of Store Fronts: 28 Number of Vacant Stores in the Year of 2015 Number of Vacant Stores in the Year of Vacant Store Fronts 2 Vacant Store Fronts: (17, & 55 West 125th St) 1 Development Site: (5-15 West 125th) Number of Vacant Stores in the Year of Vacant Store Fronts: (1, 3, & 55 West 125th St) New store fronts added this year: Bed Bath & Beyond, TJ Maxx, New York & Company, We Works, and Steven Land. Location Square Footage 1 West 125th St Basement: Ground Level: 3 West 125th St Basement: Ground Level: 55 West 125th St Ground level: 5,366 Sq ft B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 40

41 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Lenox Ave to Adam Clayton Powell Boulevard Total Number of Store Fronts: 8 Adam Clayton Powell Boulevard to Frederick Douglass Boulevard Total Number of Store Fronts: 22 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts 1 Development Site: (Urban League Development Site: 121 West 125th St) 1 Vacant Store Front: (215 West 125th St) 1 Development Site: (Urban League Development Site: 121 West 125th St) 1 Vacant Store Front: (215 West 125th St) 1 Development Site: (Urban League Development Site: 121 West 125th St) 1 Vacant Store Front: (249 West 125th St) 249 West 125th St Basement: B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 41

42 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Continued Ground Level: Frederick Douglass Boulevard to Saint Nicholas Ave Total Number of Store Fronts: 12 1 Development Site: (Victoria Theater) 1 Development Site: (Victoria Theater) 0 Vacant Store Fronts 3 Vacant Store Fronts: (301, 309, & 313 West 125th St) 1 Development Site: (Victoria Theater) New store added this year: GNC 2 Vacant Store Fronts: (319 West 125th St) (2349 Frederick Douglass Boulevard) 319 West 125th St Basement: 2359 Frederick Douglass Boulevard Ground Level: Basement: Ground Level: B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 42

43 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Continued 1 Development Site: (P.C. Richard & Son, College of New Rochelle, Belieaze Natural) Ground Level: 1,000 Sq Ft Upper Level: 10,000 Sq Ft Saint Nicholas Ave to Morningside Ave 3 Vacant Store Fronts 3 Vacant Store Fronts: ( West 125th St) 2 Vacant Store Fronts: (351 & 357 West 125th St) Total Number of Store Fronts: West 125th St Basement: Ground Level: 357 West 125th St Basement: New store front added this year: Rebdolls. ipizza & a Deli coming soon. Ground Level: B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 43

44 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Morningside Ave to Amsterdam Ave Total Number of Store Fronts: 28 0 Vacant Store Fronts 1 Vacant Store Front: (431 West 125th St) 6 Vacant Store Fronts: (409, 429, 447, 449, 451, & 457 West 125th St) 409 West 125th St Basement: Ground Level: 429 West 125th St Basement: Ground Level: 447 West 125th St Basement: Ground Level: 449 West 125th St Basement: Ground Level: 451 West 125th St Basement: Ground Level: 457 West 125th St Basement: Ground Level: B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 44

45 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Continued Amsterdam Ave to Old Broadway Total Number of Store Fronts: 28 Old Broadway to Broadway Total Number of Store Fronts: 5 1 Development Site: (1341 Amsterdam Ave Tasty Bakery) 0 Vacant Store Fronts 0 Vacant Store Fronts 1 Vacant Store Front (557 West 125th St) 557 West 125th St Basement: 0 Vacant Store Fronts 0 Vacant Store Fronts 1 Vacant Store Front (567/569 West 125th St) Ground Level: 567/569 West 125th St Ground Level: 1,000 Sq ft B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 45

46 Storefront Vacancies and Development Sites Comparison Study From 5 th Avenue to Marginal Street Broadway to 12th Ave Total Number of Store Fronts: 0 12th Ave to Marginal Street Total Number of Store Fronts: 1 1 Development Site: (Columbia University Development Project) 1 Development Site: (Columbia University Development Project) 1 Development Site: (Columbia University Development Project) 0 Vacant Store Fronts 0 Vacant Store Fronts 0 Vacant Store Fronts B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 46

47 CAMA FY th Street Analysis Square Footages and Lot Sizes Date Compiled for 125 th Street BID By Carmen Rosa: John Jay College April 24, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 47

48 0.70% 0.40% 0.70% 0.70% Building Classifications 0.70% 0.40% 2.60% 1.50% 0.40% 0.70% 0.70% 0.70% 1.10% 0.40% 0.40% 0.40% 0.70% 0.40% 0.70% 0.70% 0.40% 4.00% 0.70% [VALUE] [VALUE] Building Classifications 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 1.10% 0.40% 2.90% 5.10% 2.90% 1.80% 2.20% 2.60% 1.50% 7.30% 4.40% 3.30% 1.50% 2.60% 0.40% 0.40% 1.10% 0.70% 3.60% 0.70% C7 V1 D3 M1 M9 C5 W9 P8 D4 A4 S5 O2 O5 S9 K4 C4 K1 B1 C3 S4 RK RB R5 O9 O6 K2 L8 D7 C1 S1 C0 G7 C2 M3 R6 R1 B3 C9 B9 D1 W6 Z9 5.50% 4.00% 4.40% 2.60% 0.70% 0.40% 1.50% 0.40% 1.80% 1.10% 0.40% D6 S2 O3 G6 S3 E7 P7 N9 I5 K6 R4 J2 K7 G5 C6 Z3 P3 K3 E9 V8 There are 62 different building classifications in the BID Boundaries B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 48

49 Building Classification Glossary Building Classifications Glossary* (Source: NYC Dept. of Finance; bldgcode.html) A4 City residence one family B1 Two Family Brick B3 Two family converted from one family B9 Miscellaneous two family C0 Three families C1 over six families without stores C2 Five to six families C3 Four families C4 Old law tenement C5 Converted dwellings or rooming house C6 Walk-up cooperative C7 Walk-up apartment over six families with stores C9 Garden Apartments D1 Elevator Apartment; Semi-fireproof without stores D3 Elevator apartment; fireproof without stores D4 Elevator Cooperative D6 Elevator Apartment; Fireproof with stores B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 49

50 Building Classification Glossary cont d D7 Elevator Apartment; Semi-fireproof with stores E7 Self-storage warehouses E9 Miscellaneous Warehouse G5 Gas station only with/without small kiosk G6 Licensed Parking Lot G7 Unlicensed Parking Lot I5 Health Center, Child Center, clinic J2 Theatre; Art type more than 400 Seats K1 One story retail building K2 Multi-story retail building (2 or more) K3 Multi-story department store K4 Predominant retail with other uses K6 Shopping center with or without parking K7 Banking facilities with or without parking L8 Loft; with retail stores other than type one M1 Church, synagogue, chapel M3 Parsonage, rectory M9 Miscellaneous religious facility N9 Miscellaneous asylum, home O2 Office only 2 6 stories O3 Office only 7-19 stories O5 Office with commercial 1 to 6 stories O6 Office with commercial 7-19 stories O9 Miscellaneous and old style bank buildings P3 YWCA, YMCA, YWHA, YMHA, PAL B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 50

51 Building Classification Glossary cont d P7 Museum P8 Library RB Office space RK Retail Space R1 Condo; Residential unit in 2-10 unit building R4 Condo; residential unit in elevator building R5 Miscellaneous commercial R6 Condo; residential unit of 1-3 unit building original class 1 S1 Primarily 1 family with 1 store or office S2 Primarily 2 family with 1 store or office S3 Primarily 3 family with 1 store or office S4 Primarily 4 family with 1 store or office S5 Primarily 5-6 family with 1 store or office S9 Single or multiple dwelling with stores or offices V1 Zoned commercial or Manhattan residential W6 Other college and university W9 Miscellaneous educational facility Z3 Post office Z9 Other miscellaneous * This glossary does not include all of the building classifications in New York City. We have included only those classifications that exists in the BID boundaries and included in the chart above B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 51

52 Introduction In this analysis, the research draws from data that covers the 125 th Street Business Improvement District boundaries and does not include the expansion. Through the available data, this information breaks down the different building classifications, tax classes, and compositions of use per block. The data may help to show the overall trend of each block, but further research in the future may be needed to assess recurring trends B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 52

53 Summary of Building Classification Top 10 highest percentage of Building Classifications 1 1. K2 (7.3%) 2. C5 (5.5%) 3. C7 (5.1%) 4. K1 (4.4%) 5. K4 (4.4%) 6. R1 (4.3%) 7. C0 (4.3%) 8. R4 (4.0%) 9. O5 (4.0%) 10. C3 (3.7%) Top 10 lowest percentage of Building Classifications 1 1. D3 (0.4%) 2. P8 (0.4%) 3. A4 (0.4%) 4. O9 (0.4%) 5. S1 (0.4%) 6. M3 (0.4%) 7. B9 (0.4%) 8. S2 (0.4%) 9. G6 (0.4%) 10. G5 (0.4%) Average percentage for Building Classifications: 1.63% B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 53

54 Total Amount of Square Feet per Block Total Amount of Square Feet by Block Square Feet Total Amount Combined 1,611,563 Block 1952 Block 1951 Block 1931 Block 1930 Block 1910 Block 1909 Block 1750 Block 1749 Block 1723 Block , , , , , , , , , , , , , ,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 54

55 Composition of Use Blocks 1722 and 1723 Block 1722 Total Square Footage Breakdown Square Feet Block 1723 Total Square Feet Breakdown Square Feet Gro Sq Ft. 510,777 Gro 705,176 Owner Occupied Sq. Ft Other Sq. Ft Factory Sq. Ft Storage Sq. Ft Retail Sq. Ft. Office Sq. Ft. Commercial Sq. Ft. Residential Squ. Ft. 2, , ,735 87,612 61, , ,718 Owner Occupied Garage Other Factory Storage Retail Office Commercial Residential 33,100 13,388 30, , , , , ,589 Landsize 211,131 Landsize 178, , , , , , , ,000200,000300,000400,000500,000600,000700,000800, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 55

56 Composition of Use for Block 1749 and 1750 Block 1749 Composition of Use Square Feet Block 1750 Composition of Use Square Feet Gro 405,169 Gro 450,466 Owner Occupied 0 Owner Occupied 41,842 Garage Other Factory Storage Retail Office Commercial Residential Land Size 0 5, ,692 42,569 71, , , , , , , , ,000 Garage Other Factory Storage Retail Office Commercial Residential Land Size ,364 23,604 58,065 64, , , , , , , , , B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 56

57 Composition of Use B Blocks 1909 and 1910 Block 1909 Composition of Use Block 1910 Composition of Use Square Feet Square Feet Gro Owner Garage 0 110, ,814 Gro Owner 39, ,241 Other 86,909 Garage 142,000 Factory Storage Retail Office Commercial 0 51, , , ,386 Other Factory Storage Office , ,820 Residential 0 Commercial 687,241 Land Size 151,377 Residential , , , , , , ,000 Land Size 179, , , , , B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 57

58 Composition of Use Blocks 1930 and 1931 Block 1930 Composition of Use Square Feet Gross Sq. Ft. 578,056 Owner 53,352 Garage 0 Other 157,360 Factory 0 Storage 12,976 Retail 217,771 Office 151,440 Commercial 553,714 Residential 24,342 Land Size 151, , , , ,000 Gross Sq. Ft. Owner Occupied Garage Other Factory Storage Retail Office Commercial Residential Landsize Block 1931 Composition of Use Square Feet ,500 13,216 9, , , , , , , , , , , , , B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 58

59 Composition of Use for Block 1951 and 1952 Block 1951 Composition of Use Sqaure Feet Block 1952 Composition of Use Square Footage Gross Sq. Ft. Owner Garage Other Factory Storage Retail ,690 73, , ,805 Gross Sq. Ft. Owner Garage Other Factory Storage Retail 0 0 4, , , ,943 Office 135,434 Office 71,300 Commercial 510,099 Commercial 263,346 Residential 44,706 Residential 199,597 Landsize 121,076 Landsize 140, , , , , , , , , , , , B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 59

60 Average vs. Median Square Feet Blocks 1722 and 1723 Block 1722 Analysis Block 1723 Analysis Average (in sq. ft.) Median (in sq. ft.) Average (in sq. ft.) Median (in sq. ft.) Land Size 4,590 2,851 Residential 5,124 0 Commercial 5,980 2,850 Office 1,327 0 Retail 1, Storage Factory 0 0 Other 2,601 0 Garage 0 0 Owner Occupied 59 0 Gross Sq. Ft. 11,104 11,104 Land Size 3,368 1,874 Residential 3,162 1,972 Commercial 10,143 0 Retail 3,470 0 Office 5,588 0 Storage Factory 0 0 Other Garage Owner Occupied Gross Sq. Ft. 13,305 3, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 60

61 Average vs. Median Square Feet Blocks 1749 and 1750 Block 1749 Analysis Block 1750 Analysis Average (in sq. ft.) Median (in sq. ft.) Average (in sq. ft.) Median (in sq. ft.) Land Size 4,563 2,018 Residential 7,730 2,997 Commercial 3,525 0 Office 1,182 0 Retail 1,182 0 Storage Factory 0 0 Other Garage 0 0 Owner Occupied 0 0 Gross Sq. Ft. 11,255 4,316 Land Size 3,081 1,873 Residential 4,018 2,919 Commercial 4,645 0 Office 1,237 0 Retail 1,117 0 Storage Factory 0 0 Other Garage 0 0 Owner Occupied Gross Sq. Ft. 8,663 3, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 61

62 Average vs. Median Square Feet Blocks 1909 and 1910 Block 1909 Analysis Block 1910 Analysis Average (in sq. ft.) Median (in Sq. Ft) Average (in sq. ft.) Median (in sq. ft.) Land Size 10,813 7,569 Residential 0 0 Commercial 41,313 23,135 Office 12,630 0 Retail 18,797 6,040 Storage 3,679 0 Factory 0 0 Other 6,208 0 Garage 0 0 Owner Occupied 7,913 0 Gross Sq. Ft. 41,313 23,135 Land Size 44,962 29,974 Residential 0 0 Commercial 171, ,830 Office 93,105 70,880 Retail 43,205 26,460 Storage 0 0 Factory 0 0 Other 0 0 Garage 35,500 0 Owner Occupied 0 0 Gross Sq. Ft. 171, , B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 62

63 Average vs. Median Square Feet Blocks 1930 and 1931 Block 1930 Analysis Average (in sq. ft.) Median (in sq. ft.) Land Size 6,296 3,764 Residential 1,014 0 Commercial 23,071 3,586 Office 6,310 0 Retail 9,074 3,586 Storage Factory 0 0 Other 6,557 0 Garage 0 0 Owner Occupied 2,223 0 Gross Sq. Ft. 24,086 4,256 Block 1931 Analysis Average (in sq. ft.) Median (in sq. ft.) Land Size 10,993 10,791 Residential 0 0 Commercial 39,231 25,850 Office 18,330 0 Retail 7,143 4,124 Storage Factory 0 0 Other 12,153 0 Garage Owner Occupied Gross Sq. Ft 39,231 25, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 63

64 Average vs. Median Square Feet Analysis Block 1951 Analysis Block 1952 Analysis Average (in sq. ft.) Median (in sq. ft.) Average (in sq. ft.) Median (in sq. ft.) Land Size 17,297 11,908 Residential 6,387 0 Commercial 72,871 21,716 Office 19,348 0 Retail 42,919 6,000 Storage 0 0 Factory 0 0 Other 10,556 0 Garage 49 0 Owner Occupied 10,956 0 Gross Sq. Ft. 79,258 35,572 Land Size 5,840 3,581 Residential 8,317 0 Commercial 10,973 1,665 Office 2,971 0 Retail 6,546 1,349 Storage 1,005 0 Factory 0 0 Other Garage 0 0 Owner Occupied 0 0 Gross Sq. Ft. 19,289 6, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 64

65 Tax Class on 125 th Street Tax Class Glossary (Source: NYC Dept. of Finance; Class 1: Most residential property of up to three units (family homes and small stores or offices with one or two apartments attached), and most condominiums that not more than three stories. Class 2: All property that is not in Class 1 and is primarily residential (rentals, cooperatives, and condominiums). Class 2 includes: Sub-Class 2a: 4-6 unit rental building Sub-class 2b: 7-10 unit rental building Sub-class 2c: 2 10 unit cooperative or condominium Class 2: 11 units or more Class 3: Most utility property Class 4: All commercial and industrial properties, such as office, retail, factory buildings and all other properties not included in tax classes 1, 2, or B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 65

66 Additional Notes 1 Block 1722 contains a total of 47 properties. 2 Block 1723 contains a total of 53 properties. 3 Block 1749 contains a total of 36 properties. 4 Block 1750 contains a total of 52 properties. 5 Block 1909 contains a total of 14 properties. 6 Block 1910 contains a total of 4 properties. 7 Block 1930 contains a total of 24 properties. 8 Block 1931 contains a total of 14 properties. 9 Block 1951 contains a total of 7 properties. 10 Block 1952 contains a total of 24 properties B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 66

67 Tax Class Percentage Breakdown in BID boundaries Tax Class Percentage Breakdown 10% 48% 13% 14% Class 1 Class 2 (general) Class 2a Class 2b Class 2c Class 3 Class 4 4% 11% 0% B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 67

68 Tax Class Breakdown for Block 1722 and 1723 Block 1722 Tax Class Breakdown 1 Block 1723 Tax Class Breakdown 2 5% 15% Class 1 25% Class 1 [CATEGORY NAME] [PERCENTAGE] 15% Class 2 (general) Class 2a Class 2b Class 2c Class 3 42% 2% 7% Class 2 (general) Class 2a Class 2b Class 2c Class 3 0% 13% Class 4 0% 9% 15% Class B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 68

69 Tax Class Breakdown for Block 1749 and 1750 Block 1749 Tax Class Breakdown 3 Block 1750 Tax Class Breakdown 4 Class 3 0% Class 2c 0% Class 4 25% Class 1 14% Class 2 (general) 22% Class 1 Class 2 (general) Class 2a Class 2b Class 2c [PERCENTAGE] [PERCENTAGE] [PERCENTAGE] [PERCENTAGE] [PERCENTAGE] Class 1 Class 2 (general) Class 2a Class 2b Class 2c Class 2b 11% Class 2a 28% Class 3 Class 4 [PERCENTAGE] [PERCENTAGE] Class 3 Class B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 69

70 Tax Class Breakdown for Block 1909 and 1910 Block 1909 Tax Class Breakdown 6 Block 1910 Tax Class Breakdown 5 0% 0% Class 1 Class 2 (general) Class 2a Class 2b Class 2c Class 3 Class 4 Class 1 Class 2 (general) Class 2a Class 2b Class 2c Class 3 Class 4 100% 100% B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 70

71 Tax Class Breakdown for Block 1930 and 1931 Block 1930 Tax Class Breakdown 7 Block 1931 Tax Class Breakdown 8 0% 0% Class 1 Class 1 Class 2 (general) Class 2 (General) 54% 46% Class 2a Class 2b Class 2c Class 2a Class 2b Class 2c Class 3 Class 3 Class 4 Class 4 0% 100% B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 71

72 Tax Class Breakdown for Block 1951 and 1952 Block 1951 Tax Class Breakdown 9 Block 1952 Tax Class Breakdown 10 0% 14% 0% 17% 0% Class 1 Class 2 (General) Class 1 Class 2 (general) Class 2a Class 2b 12% Class 2a Class 2b 86% Class 2c Class 3 Class 4 63% 0% 8% Class 2c Class 3 Class B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 72

73 Assessed Values (AV) in the BID Boundaries Graphing of AV Trends AV Value Trend Date Compiled for 125 th Street BID By Saimur Ahmed: Queens College April 24, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 73

74 A.V. VALUE TRENDS FROM BLOCK BC LOT A.V. IN THE YEAR OF 2018 A.V. IN THE YEAR OF 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 (IN PERCENTAGE) C ,024, ,209, $185, % K , ,117, $265, % K ,317, ,649, $331, % C , , $19, % C , , $6, % C , , $61, % C , , $51, % K , , $ % C , , $ % S , , $9, % S , , $ % S , , $ % S , , $ % K , , $ % S , , $ % K , , $215, % K , , $126, % K , , $ % K ,509, ,533, $24, % K ,582, ,854, $272, % C , , $6, % B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 74

75 A.V. VALUE TRENDS FROM BLOCK BC LOT A.V. IN THE YEAR OF 2018 A.V. IN THE YEAR OF 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 (IN PERCENTAGE ) C , , $5, % S , , $4, % , , $40, % , , $10, % ,682, ,925, $243, % K ,238, ,569, $330, % K ,125, ,241, $115, % O , , $ % C ,173, ,162, $10, % O ,581, ,114, $533, % K ,048, ,103, $55, % L , , $25, % L , , $1, % D ,922, ,055, $132, % K ,622, ,812, $189, % K ,882, ,161, $278, % L , , $40, % H , , $37, % K ,776, ,792, $15, % O ,695, ,147, $451, % C ,676, ,607, $931, % B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 75

76 A.V. VALUE TRENDS FROM BLOCK BC LOT A.V. IN THE YEAR OF 2018 A.V. IN THE YEAR OF 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 (IN PERCENTAGE ) K ,222, ,005, $783, % K ,262, ,264, $2, % K ,361, ,375, $14, % O ,134, ,369, $235, % K ,117, ,140, $23, % K ,902, ,998, $96, % ,255, ,418, $23,163, % R ,305, ,400, $94, % R ,494, ,769, $274, % R ,501, ,667, $166, % K ,969, ,201, $232, % O ,137, ,688, $1,551, % K ,095, ,811, $715, % K ,391, ,622, $231, % K ,247, ,410, $162, % K ,271, ,648, $376, % K ,443, ,836, $392, % K ,560, ,663, $103, % K ,779, ,912, $133, % L ,051, ,232, $181, % K ,943, ,557, $613, % B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 76

77 A.V. A.V. VALUE VALUE TRENDS TRENDS FROM FROM BLOCK BC LOT A.V. IN THE YEAR OF 2018 A.V. IN THE YEAR OF 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 (IN PERCENTAGE ) K ,464, ,657, $192, % O ,237, ,600, $363, % V ,459, ,498, $38, % K ,245, ,454, $208, % K ,071, ,225, $154, % O ,787, ,882, $94, % O ,087, ,660, $572, % K ,729, ,902, $173, % V ,018, ,318, $299, % K ,891, ,365, $473, % C , ,020, $1,129, % K ,571, ,662, $91, % C , , $6, % S , , $6, % C , , $7, % D ,374, ,633, $259, % K ,910, ,922, $12, % K ,014, ,019, $5, % L ,220, ,407, $186, % L ,016, ,434, $418, % K , ,260, $323, % B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 77

78 A.V. VALUE TRENDS FROM BLOCK BC LOT A.V. IN THE YEAR OF 2018 A.V. IN THE YEAR OF 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 CHANGE IN A.V. VALUE FROM 2018 TO 2019 (IN PERCENTAGE ) L , , $84, % L , , $19, % K ,937, ,112, $2,174, % C , , $7, % S , , $6, % Total 343,073, ,869, Average 3,854, ,324, Sum of A.V. value in the year of ,073, Average of A.V. value in ,854, Sum of A.V. value in the year of ,869, Average of A.V. value in ,324, B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 78

79 79 125B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 79

80 Chairman Mukaram Taheraly Chair Real Estate Development Scott Auster President & CEO Barbara Askins B-41318_REAL ESTATE DEVELOPMENT ROUNDTABLE-May02.indd 80