PORTFOLIO SALE $24,000, E AS T 7 T H S T 110 WEST 15 TH ST N D AVE CHELSEA EAST VILLAGE GRAMERCY

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1 N D AVE 110 WEST 15 TH ST E AS T 7 T H S T PORTFOLIO SALE $24,000,000 CAP RATE: 3.0% TOTAL BUILDING SQ. FT: 16,850 SQ. FT TOTAL BUILDABLE SQ. FT: 30,267 SQ. FT REMAINING BUILDABLE SQ. FT: 13,417 SQ. FT GRAMERCY 6 - FA M I LY CHELSEA 4 - FA M I LY EAST VILLAGE 1 - FA M I LY

2 ta b l e o f c o n t e n t s 320 2nd Avenue Gramercy nd Avenue Floor Plan 04 Sales Analysis As-Is 05 Projected Rental Income 06 Projected Development Neighborhood Description West 15th Street West 15th Street Floor Plan 10 Sales Analysis As-Is 11 Projected Rental Income 12 Projected Condo Development 13 Neighborhood Description East 7th Street 15 Sales Analysis As-Is 189 East 7th Street Floor Plan Neighborhood Description

3 320 2nd Avenue Gramercy ND AVENUE GRAMERCY Building Type Floors Building Dimensions Year Built Total Square Footage Zoning Actual FAR Potential FAR Lot Dimensions Lot Area Acres 6-Family 5 22 X ,250 Sq. Ft. R9A X 100 2,167 Sq. Ft Acres This 5-story, 6-unit building has tremendous opportunity. The property presents a X 100 lot with a maximum FAR of Current FAR stand at of 3.24, with a total buildable of approx. 13,652 Square Feet. Situated R9A Zoning. Encompassing all 5 floors, the total monthly rent is currently $11,250. The potential gross monthly rent is $27,750, with pontential gross annual rent of $333,000.* Total current expenses (taxes, plumbing, electric, etc.): $65,117. The building s plumbing, electrical, and units have been updated. The building will be delivered vacant. Gramercy Park remains one of the most affluent neighborhoods in New York City, as it is still a top destination for residents and businesses nd Avenue presents the rare and unique opportunity for investors or interested parties to make their mark on the iconic city.

4 nd Avenue Floor Plan ND AVENUE FLOOR PLAN

5 Sales Analysis 5 AS IS POTENTIAL INCOME UNIT# BED BATH M O N T H L Y RENT CURRENT RENT* CURRENT YEARLY RENT 1st Floor Front Half Studio 1 Bath Owner $2,750 $33,000 Rear Half & Patio Bed 1 Bath 1 Owner $3,000 $36,000 2nd Floor **Rent Stabilized Beds 1 Bath 2 $350 $5,000 $60,000 3rd Floor Owner Beds 1.5 Baths 2 Owner $5,000 $60,000 4th Floor Rented Beds 1.5 Baths 3 $5,000 $6,000 $72,000 5th Floor Rented Beds 1.5 Baths 3 $5,900 $6,000 $72,000 TOTAL GROSS INCOME $11,250 $27,750 $333,000 CURRENT EXPENSES RE Taxes Water / Sewer Heat & Electrical Insurance $49,311 $6,029 $6,277 $3,500 TOTAL $65,117 SUMMARY Potential Gross Income Current Expenses NET OPERATING INCOME $333,000 $65,117 $267,883 assuming renovated apartments *

6 6 Sales Analysis PROJECTED NEW RENTAL INCOME POTENTIAL INCOME FLOOR UNIT BED BATH SQ. FT.* POTENTIAL POTENTIAL MONTHLY RENT YEARLY RENT 1 Retail 1,220 Sq. Ft. $15,250 $183, A 2B 3 3A 3B 4 4A 4B 5 5A 5B 6 6A 6B 7 7A 7B 8A 8 8B 9A 9 9B TOTAL YEARLY INCOME $79,250 $951,000 POTENTIAL EXPENSES SUMMARY RE Taxes $98,622 Potential Gross Income $951,000 Water / Sewer $15,000 Potential Expenses $129,622 Common Electric Insurance $1,000 $15,000 NET OPERATING INCOME $821,378 TOTAL $129, % $27,400,000 alloting the remaining square footage towards common space *

7 Sales Analysis 7 PROJECTED DEVELOPMENT POTENTIAL INCOME FLOOR BED BATH SQ. FT.* PRICE PER SQ.FT.** ESTIMATED VALUE Lobby Retail 1,220 Sq. Ft. $1,700 $2,074, Beds 3 Baths 1,520 Sq. Ft. $1,850 $2,812, Beds 3 Baths 1,520 Sq. Ft. $1,875 $2,850, Beds 3 Baths 1,520 Sq. Ft. $1,900 $2,888, Beds 3 Baths 1,520 Sq. Ft. $1,925 $2,926, Beds 3 Baths 1,520 Sq. Ft. $1,950 $2,964, Beds 3 Baths 1,520 Sq. Ft. $1,975 $3,002, Beds 3 Baths 1,520 Sq. Ft. $2,000 $3,040, Beds 3 Baths 1,520 Sq. Ft. $2,025 $3,078,000 TOTAL SELLOUT $25,634,000 TOTAL SELLOUT $25,634,000 Cost of Land Cost of Construction (@ $400 psf) $8,500,000 $5,500,000 TOTAL PROFIT (APPROX.) $11,634,000 alloting the remaining square footage towards common space * average sold psf for similar condo buildings **

8 8 About Gramercy GRAMERCY NEIGHBORHOOD Since the 1800s, Gramercy has consistently been one of New York City s finest and most desirable neighborhoods. Home to great influencers like Theodore Roosevelt, Oscar Wilde, and James Cagney, this community provides a unique, small town feel while still being centrally located in the heart of Manhattan. Gramercy residents are a grouping of longtime homeowners with newcomers to the area looking for a stunning, serene place to call home. When out of house, Gramercy residents can walk to New York hot spots such as Eleven Madison Park, the Nation Arts Club, Spin New York, and The Gramercy Park Hotel. When it s time for work, Gramercy professionals have access to anywhere they need to commute to with the 4, 5, 6, N, Q, R, and L trains right in walking distance. There is a reason this neighborhood has stood the tests of time and remained an elite New York neighborhood. Closest Schools: District 2 P.S. 40 and JHS Simon Baruch Gramercy Land Marks: Eleven Madison Park, Gramercy Park and Gramercy Park Hotel, The National Arts Club, Irving Plaza, The Players Club, Pete s Tavern, Theodore Roosevelt s Birthplace, Spin New York, Casa Mono Nearest whole foods: 4 Union Square South

9 110 WEST 15 TH STREET CHELSEA 110 West 15th Street Chelsea 9 Building Type Floors Building Dimensions Year Built Total Square Footage Zoning Actual FAR Potential FAR Lot Dimensions Lot Area Acres 4-Family 5 20 X ,200 Sq. Ft. C6-2A X ,665 Sq. Ft Acres Situated along a tranquil tree-lined block, 110 W 15th Street is a rarely available, semi-detached 20-foot townhouse located in the heart of Chelsea. Upon entering, one is immersed in the homes quaint charm. Having been updated and meticulously maintained, this townhouse exudes charm and stands in a class of its own. The first floor features an open great room with floor-to-ceiling windows and approx. 11.5' ceilings. This sun-drenched south-facing space contains transparent French doors that lead to an immaculate garden. Adjacent is an open kitchen that has been updated with the finest stainless steel appliances from Miele dishwasher to a Bertazzoni Italia range. The lower level consists of 2 full bedrooms and 2 full bathrooms complete with a washer/dryer. Another set of French doors grants direct access to a private oasis garden.

10 West 15th Street Floor Plan 110 WEST 15 TH STREET FLOOR PLAN M20 8th Avenue M20 W 22nd ST W 21th ST W 20th ST A C E M14A 7th Avenue W 16th ST 6th Avenue W 19th ST W 18th ST W 14th ST W 13th ST W 15th ST 110 WEST 15TH STREET B D F M M14D W 17th ST 5th Avenue M1 2 M2 M3 W 11th ST W 12th ST M5 M7 M5 4 N Q 5 R 6 W UNION SQUARE PARK

11 Sales Analysis 11 AS IS POTENTIAL INCOME UNIT# BED BATH M O N T H L Y RENT CURRENT RENT* CURRENT YEARLY RENT Apt 1 Owner Duplex Beds 2 Baths 2 Owner $9,000 $108,000 Apt 2 Rented Beds 1 Bath 2 $5,225 $5,500 Apt 3 Rented Beds 1 Bath 2 $4,820 $5,500 Apt 4 Rented Beds 1 Bath 2 $4,620 $5,500 TOTAL GROSS INCOME $14,665 $25,500 $306,000 CURRENT EXPENSES RE Taxes Water / Sewer Heat & Electrical Insurance $52,193 $1,718 $3,673 $3,816 TOTAL $61,400 SUMMARY Potential Gross Income Current Expenses NET OPERATING INCOME $306,000 $61,400 $244,600 assuming renovated apartments *

12 12 Sales Analysis PROJECTED NEW RENTAL INCOME POTENTIAL INCOME FLOOR UNIT BED BATH SQ. FT.* POTENTIAL POTENTIAL MONTHLY RENT YEARLY RENT 1 Retail 750 Sq. Ft. $15,000 $180,000 2 Apt 1 $ 5,500 3 Apt 2 $ 5,500 4 Apt 3 $ 5,500 5 Apt 4 $ 5,500 6 Apt 5 $ 5,500 7 Apt 6 $ 5,500 8 Apt 7 $ 5,500 9 Apt 8 $ 5, Apt 9 $ 5,500 TOTAL YEARLY INCOME $64,500 $774,000 POTENTIAL EXPENSES RE Taxes $104,389 SUMMARY Potential Gross Income $774,000 Water / Sewer $15,000 Potential Expenses $135,389 Common Electric Insurance $1,000 $15,000 NET OPERATING INCOME $638,611 TOTAL $135, % $21,000,000

13 PROJECTED CONDO DEVELOPMENT Sales Analysis 13 POTENTIAL INCOME UNIT BED BATH SQ. FT.* PRICE PER SQ.FT.** ESTIMATED VALUE Lobby Retail 750 Sq. Ft. $1,800 $ 1,800,000 1 $2,100 $ 2,100,000 2 $2,150 $ 2,150,000 3 $2,200 $ 2,200,000 4 $2,250 $ 2,250,000 5 $2,300 $ 2,300,000 6 $2,350 $ 2,350,000 7 $2,400 $ 2,400,000 8 $2,450 $ 2,450,000 9 $2,500 $ 2,500,000 TOTAL $22,500,000 TOTAL SELLOUT Cost of Land Cost of Construction (@ $450 psf) $22,500,000 $10,000,000 $4,500,000 TOTAL PROFIT (APPROX.) $8,000,000 alloting the remaining square footage towards common space** * average sold psf for similar condo buildings **

14 14 About Chelsea CHELSEA Residents of Chelsea are graced with beauty and culture around every corner. Whether you want to enjoy a lovely day outside at the world famous Highline or a fun night out at Mario Batali s Del Posto restaurant, Chelsea has something perfect for just about everyone. This neighborhood has also been the central hub for New York s arts scene ever since Andy Warhol burst onto the scene. Now, Chelsea has over 200 premium art galleries ranging from small personal exhibits to the Gagosian Gallery. Chelsea residents are also fortunate enough to have everything they could need at the Chelsea Market. This former factory space transformed from producing Oreos and Saltines into a magnificent food hall, shopping mall, office building, and studio. Expanding over 15th and 16th street, Chelsea market includes world famous eateries like Sarabeth s, Eleni s, and Fat Witch. Prime location also allows Chelsea residents to explore the entirety of New York with the 1, 2, 3, A, B, C, F, M, N, Q, R, and L subway lines all being found within the neighborhood. With luxury high-rises, world class entertainment, and access to anywhere in Manhattan, Chelsea truly is the perfect spot to call home. Closest Schools: District 2 P.S. 003 Charette School, P.S. 041 Greenwich Village, J.H.S Simon Baruch, Sixth Avenue Elementary School Chelsea Land Marks: Chelsea Market, The Highline, Chelsea Piers, The Joyce Theater, The Upright Citizens Brigade Theater, Gagosian Gallery, Rubin Museum of Art, The Pace Gallery, The Museum of FIT, Colicchio and Sons, Blossom, The Highline Ballroom, Story. Nearest Whole Foods: 250 7th Avenue.

15 189 East 7th Street East Village EAST 7 TH STREET EAST VILLAGE Building Type Floors Building Dimensions Year Built Total Square Footage Zoning Actual FAR Potential FAR Lot Dimensions Lot Area Acres 1-Family 4 20 X ,400 Sq. Ft. R8B ' X 49.58' 987 Sq. Ft This triple-mint townhouse recently underwent a $2 million dollar renovation and has been fully gut-renovated, top to bottom. Every detail imaginable and desired has been brought on to showcase the magnificence of this 20-foot-wide single family townhouse. The front facade has been uniquely refined with custom Porcelanosa White Persian Marble. The home presents a unique 4 bedroom, 4.5 bathroom combination, easily convertible to 5 bedrooms, for full accommodation. Upon entering this beautiful townhouse, there are approx. 22-foot-high ceilings. Located on the first floor is a Poggenpohl s custom chef s kitchen with custom Statutori marble countertops. The kitchen offers a fully marble covered island, along with a Six Burner Wolf Range, Miele dishwasher, Viking fridge and modernized ez-touch cabinets. At the top of the home lies a private oasis, roof decked in custom Runnen Tiles, along with a Calcutta Stone front ledge and Statutori back ledge.

16 16 Sales Analysis AS IS POTENTIAL INCOME UNIT# BED BATH M O N T H L Y RENT PROJECTED RENT* CURRENT YEARLY RENT CURRENT YEARLY RENT TWNHSE Quadplex 4 Beds 4.5 Baths $15,000 $17,000 $180,000 $204,000 TOTAL GROSS INCOME $15,000 $17,000 $180,000 $204,000 CURRENT EXPENSES RE Taxes Insurance $52,193 $1,600 TOTAL $56,700 SUMMARY Potential Gross Income Current Expenses NET OPERATING INCOME $204,000 $56,700 $147,300 assuming renovated apartments *

17 189 East 7th Street Floor Plan EAST 7 TH STREET FLOOR PLAN M15 1st Avenue M14A Avenue A TOMPKINS SQUARE M9 Avenue B M8 189 EAST 7TH STREET E 6th S ST E 12th ST E 11th ST E 10th ST E 9th ST Avenue C E 7th ST E 8th ST M21 M14B enue D

18 18 About East Village EAST VILLAGE The East Village, NYC s neighborhood located between Bowery and 14th streets, has become a hotspot with the adventurous spirit that defines downtown living. The East Village has everything from Michelin starred restaurants like Momofuko Ko to retro-aged record stores like A-1 Records. Other historical must-sees include the beautiful Tompkins Square Park and illustrious St. Mark s Place where residents can walk around and explore the one-of-a-kind character of the East Village. Residents of the East Village are within walking distance of the 6, L, and F trains giving them the ability to take the adventure with them uptown. Schools: District 01 P.S. 19, The East Village Community School, Tompkins Square Middle School East Village Landmarks: Tompkins Square Park, Saint Mark s Place, Momofuko Ko, BaoHaus, Shuko, The Merchant House Museum, Saint Mark s Church, Bowery Electric, Webster Hall Nearest Whole Foods: East Houstan St. Between Bowery and Chrystie St.

19 19 JOHN W. CHANG, MBA John W. Chang is an Associate Broker at Sotheby s International Realty and founder of JWC LUXURY TEAM One of the top brokerage teams in New York City. As the lead broker of the JWC LUXURY TEAM. Manhattan s premier luxury real estate team, he specializes in listing aimed toward the international and high-end clientele. John knows that finding the right home is more than getting a good deal - there is real emotional connection involved when it comes to where you live. That s why it is his core principle to deliver a painless process based on the individual s situation, need and goals, guiding you from beginning to end JOHN.CHANG@SOTHEBYHOMES.COM OVER 1 BILLION DOLLARS OF REAL ESTATE TRANSACTIONS FOUNDER OF JWC LUXURY TEAM LICENSED REAL ESTATE BROKER CERTIFIED GENERAL APPRAISER PROFESSOR OF REAL ESTATE AT BARUCH COLLEGE AWARDED THE SENIOR GLOBAL ADVISOR DESIGNATION (TOP 1% OF ALL AGENTS IN THE WORLD)