MOTT HAVEN MULTIFAMILY BUILDINGS FOR SALE

Transcription

1 MOTT HAVEN MULTIFAMILY BUILDINGS FOR SALE East 148th Street Bronx, NY Lo c ation : B lo c k / Lot S : Lot S i z e (Combined) : South side of East 148th Street between Courtlandt and College Avenues 2329 / 68 & x zoning / FA R : R6 / 2.43 B uilding S i z e (Combined) : 54 x 66 stories : gross sf : R es. U N I T S : assessment (Combined): Ta x es (Combined) : (Approx.) (Approx.) 4 14,256 SF (Approx.) 17 (Add l super unit in basement) $116,880 (12/13) $15,406 (12/13) Massey Knakal Realty Ser vices has been retained on an exclusive basis to market East 148th Street, located in the Mott Haven neighborhood of the Bronx. The properties are two adjacent fourstor y walk-up apartment buildings, which consists of seventeen (17) residential units (plus a basement supers unit). 340 East 148th Street contains nine (9) apartments while 342 East 148th contains eight (8). Each unit is individually metered for gas and electric ser vice. The properties run on two seperate boilers but share a 1,500 gallon #2 oil tank. The heating systems can be operated remotely by PC and there are also security cameras throughout the property that can be accessed off-site. With large apartments throughout both buildings, the residential units are configured as one (1) 2-bedroom and sixteen (16) 3-bedrooms. Five of the residential units have also been removed from rent stabilization, providing a landlord with the opportunity to increase rents as the market rises. The property benefits from close proximity to the The Hub, Nos. 2 & 5 subway line stop at 3rd Ave - East 149th Street and multiple bus lines. ASKING PRICE: $1,525,000 UNIT BREAKDOWN CAP Rate UNIT TYPE # 2 Bedroom 3 Bedroom 1 16 Total Residential Units 17 GRM Price Per SF Price Per Unit 8.0% 6.4 $107 $89,706 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER

2 MOTT HAVEN MULTIFAMILY BUILDINGS FOR SALE East 148th Street Bronx, NY in-place REVENUE Unit STATUS room COUNT Exp. Date Monthly Rent 1 FM 10/31/2013 $1,375 2 RS 4/30/2014 $1,145 3 RS 5/31/2014 $756 4 RS 10/31/2013 $1,183 5 FM 3/1/2014 $1,200 6 RS 5/31/2014 $769 7 RS 11/30/2013 $1,090 8 RS 5/14/2014 $1,350 1E RS 9/30/2013 $1,300 1W FM 10/31/2013 $1,200 2E * RS 8/31/2013 $1,425 2W RS 6/30/2013 $1,055 3E RS 4/5/2014 $1,364 3W RS 9/30/2014 $1,061 4E FM 6/30/2012 $1,300 4W RS 10/31/2013 $1,259 EXPENSES Real Estate Taxes (12/13) Actual $15,406 Water and Sewer $925 Per Unit $15,725 Gas & Electric $0.20 Per Sq. Ft. $2,851 Fuel $1.65 Per Sq. Ft. $23,522 Insurance $450 Per Unit $7,650 Repairs and Maintenance $425 Per Unit $7,225 Payroll & Benefits (Super) $1,500 Per Month $18,000 Professional 1% of E.G.I. $2,252 Management 5% of E.G.I. $11,261 Total Annual Expenses: $103,893 gross ANNUAL income: $237,071 Less 5% $(11,854) effective gross income: $ 2 2 5, Less Expenses: ($103,893) Net Operating Income: $121,324 Bsmt FM 4.0 4/18/2014 $925 Total: 84 $19,756 * Unit includes a $17 monthly charge for a washer/dryer UNIT TYPE # OF UNITS AVG / UNIT AVG / ROOM 2 BR 1 $925 $231 3 BR 16 $1,177 $235 Total 17 $1,162 $235 Courtlandt Avenue East 148th Street College Avenue East 149th Street For further information or inspection, please contact Exclusive Agents: David Simone dsimone@masseyknakal.com x7725 Nicholas Burns Director of Sales nburns@masseyknakal.com x7756 Andrew Essick Associate Director of Sales aessick@masseyknakal.com x7794 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

3 Morningside Ave 11 Unit Condominium Development Address: Location: Block & Lot: Zoning: Building S.F. : Lot Dimensions: Lot Size: Tax Status: 369 West 126th Street North side of West 126 th Street between Morningside and St. Nicholas Avenues 1953 / 7502 (Lot was previously 6) R7-2 8,593 S.F. (Approx.) 25 x ,498 S.F. (Approx.) 15 year 421A Tax Exemption 369 West 126 th Street is a newly developed 11 unit elevator boutique condominium project comprising approximately 8,593 square feet. The property is located on the north side of West 126 th Street between Morningside and St. Nicholas Avenue. The building is ideally situated on a cozy residential street one block north of the 125 th Street commercial corridor and around the corner from the A, B, C and D subway lines on 125 th Street and St. Nicholas Avenue. Fifteen minutes from midtown and within walking distance to the Columbia University expansion project also makes this a favorable acquisition. The property, which can serve either as a condo building or a multi-family rental asset, will boast 5 studios, 2 one bedroom and 4 two bedroom apartments, including a penthouse unit with two balconies and exclusive access to the rooftop. The project is approximately 80% complete and requires an estimated $250,000 to finalize. The property also benefits from a 15 year 421A tax exemption. Seller financing is available. The floor plans and marketing brochure are available upon request. 369 West 126 th Street D B C A W 127 th St. ASKING PRICE: $ 3,950, Montague Street, 3rd Floor 275 Madison Avenue, 3rd Floor Brooklyn, NY New York, NY T: *** SELLER / F: FINANCING AVAILABLE T: *** / F: Queens Boulevard, 14 th Floor Forest Hills, NY W 126 T: th St. / F: Lev Kimyagarov lev@masseyknakal.com (212) For further information or inspection, contact Exclusive Agents: Josh Lipton jlipton@masseyknakal.com (212) The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. 275 Madison Avenue 3 rd Floor New York, NY Fax

4 11 Unit Condominium Development PROJECTED REVENUE Unit Unit Type SF $/SF Monthly Rent 1 Studio 413 $42 $ 1, $40 $ 2, $38 $ 3,000 4 Studio 413 $42 $ 1, $38 $ 3,000 6 Studio 413 $42 $ 1, $38 $ 3,000 8 Studio 413 $42 $ 1, $38 $ 3, Studio 413 $42 $ 1, (Penthouse) 730 $49 $ 3,000 TOTAL MONTHLY RENT: $ 24,700 GROSS REVENUE: $ 296,400 VACANCY & CREDIT LOSS: $ 8,892 EFFECTIVE GROSS REVENUE: $ 287,508 EXPENSES (ESTIMATED) Real Estate Taxes (13/14) 15 Year 421A Tax Exemption $ 0 Water & Sewer $.75 Per Sq. Ft. $ 6,445 Insurance $1.00 Per Sq. Ft. $ 8,593 Fuel $1.75 Per Sq. Ft. $ 2,275 Electric $.50 Per Sq. Ft. $ 650 Elevator $3,000 per year $ 3,000 Cleaning & Maintenance $300 per month $ 3,600 Repairs $.75 Per Sq. Ft. $ 6,445 Management 4% of G.A.I. $ 11,500 TOTAL: $ 42, Montague Street, 3rd Floor Brooklyn, NY T: / F: GROSS ANNUAL REVENUE: $ 287,508 LESS EXPENSES: $ 42,508 NET OPERATING INCOME: $ 245,000 ASKING PRICE: $ 3,950, Madison Avenue, 3rd Floor New York, NY *** T: SELLER FINANCING / F: AVAILABLE *** Queens Boulevard, 14 th Floor Forest Hills, NY T: / F: Lev Kimyagarov lev@masseyknakal.com (212) For further information or inspection, contact Exclusive Agents: Josh Lipton jlipton@masseyknakal.com (212) The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. 275 Madison Avenue 3 rd Floor New York, NY Fax

5 MIXED-USE MULTIFAMILY BUILDING FOR SALE 534 West 178th Street New York, NY NEARBY PORT AUTHORITY, 181st STREET, & HIGHBRIDGE PARK GW Bridge Bus Station ROBERT M. SHAPIRO Yeshiva University Property Information: Location: The subject property is located on the southeast corner of Audubon Avenue and West 178th Street. Address: 534 West 178th Street Block: 2132 Lot: 29 Lot Size: x 100 Lot Area: 4,183 Stories: 5 Building Size: 42 x 87 *Gross Square Footage: 16,600 Residential Units: 20 Average Res. Net Unit Size: 588 Commercial Units: 2 Zoning/FAR: R7-2/3.44 Assessment (13/14): $305,370 Abatement/Exemption: - Taxes (13/14): $40,251 * Please independently verify square footage Financial Summary PROPERTY DESCRIPTION: 534 West 178th Street is a 5 story mixed-use apartment building located on the southeast corner of West 178th Street and Audubon Avenue in the Washington Heights neighborhood of Manhattan. The building has been well maintained by current ownership and recent improvements include a new automatic feeder, coils and mixing valve for the boiler (#2 oil) and the roof was re-done in An MCI has been filed and approved for the roof work. All of the 20 residential units are rent regulated; 19 units are rent stabilized and 1 unit is rent controlled. The unit mix is comprised of 6 two-bedroom, 10 three-bedroom and 4 four-bedroom apartments. The buildings current residential rents offer tremendous upside for new ownership with the average two-bedroom unit renting for $1,182, three-bedroom for $1,030 and four-bedroom for $1,410 in a market that can achieve $1,900, $2,200 and $2,400 respectfully. The buildings two commercial spaces are occupied by an Insurance Company and a Car Service both of which have at least two more years until their leases expire. Tenants benefit from the buildings proximity to High Bridge Park which offers many walking & biking trails, ball parks and a swimming pool. The property is also nearby the Broadway and West 181st Street retail corridors and many other neighborhood attractions such as Yeshiva University, the Palace Theatre and the Cloisters museum. The George Washington Bridge Bus Station which is located along West 179th Street is currently under renovation. The city plans to quadruple the size of the current complex to approximately 120,000 square feet with plans to revitalize the retail to include an array of national and local tenants. Public transportation is easily accessible via the 1 train stop at St. Nicholas Avenue and West 181st Street, the A express train stop at Fort Washington Avenue and West 175th Street and the numerous bus routes that cover the neighborhood. To recieve a confidential memorandum, please contact Exclusive Agents: JIM YETTER Senior Associate jyetter@masseyknakal.com The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. Asking Price: $3,600,000 Gross Revenue: $323,510 Expenses: $150,538 NOI: $172,971 Cap Rate: 4.8% GRM: 11.1 Price Per Square Foot: $217 Price Per Unit: $163,636 DANIEL MAURER Associate dmaurer@masseyknakal.com

6 MIXED-USE MULTIFAMILY BUILDING FOR SALE 534 West 178th Street New York, NY NEARBY PORT AUTHORITY, 181st STREET, & HIGHBRIDGE PARK RESIDENTIAL REVENUE UNIT STATUS ROOMS EXPIRATION LEGAL RENT PREF WASH TOTAL 1 RS 5 6/30/2013 $1,937 $(287) $- $1,650 2 RS 5 3/31/2014 $2,050 $(300) $- $1,750 3 RS 4 10/31/2012 $2,198 $(648) $- $1,550 4 RS 4 7/31/2013 $1,263 $- $- $1, RS/SCRIE 5 3/31/2014 $853 $- $17 $ RS 5 6/30/2014 $816 $- $- $ RS 4 4/30/2014 $1,922 $(447) $- $1, RS 6 6/30/2014 $2,043 $- $- $2, RS 5 12/31/2012 $1,434 $- $17 $1, RS 5 3/31/2014 $854 $- $17 $ RS/DRIE 4 4/30/2013 $760 $- $- $ RS 6 12/31/2013 $1,582 $- $- $1, RS 5 3/31/2014 $843 $- $- $ RC 5 - $164 $- $17 $ RS 4 9/30/2013 $730 $- $- $ RS 6 5/31/2014 $999 $- $17 $1, RS 5 10/31/2013 $820 $- $- $ RS 5 8/31/2014 $1,052 $- $- $1, RS 4 3/31/2014 $1,312 $- $- $1, RS 6 8/31/2013 $1,001 $- $- $1,001 TOTAL RESIDENTIAL REVENUE: MONTHLY RESIDENTIAL REVENUE: $23,035 GROSS ANNUAL RESIDENTIAL REVENUE: $276,422 AVERAGE RENT PER NET SQUARE FOOT: $23.52 AVERAGE MONTHLY RENT PER UNIT: $1,152 COMMERCIAL REVENUE UNIT TENANT EXPIRATION TOTAL ST1 Insurance 4/1/2018 $1,967 ST2 Car Service 11/16/2015 $1,900 Commercial Reimbursements $57 TOTAL COMMERCIAL REVENUE: MONTHLY COMMERCIAL REVENUE: $3,924 GROSS ANNUAL COMMERCIAL REVENUE: $47,088 AVERAGE RENT PER SQUARE FOOT: $16.97 TOTAL COMBINED REVENUE COMBINED MONTHLY REVENUE: $26,959 COMBINED ANNUAL REVENUE: $323,510 Audubon Avenue West 178th Street 534 West 177th Street Amsterdam Avenue To recieve a confidential memorandum, please contact Exclusive Agents: ROBERT M. SHAPIRO rshapiro@masseyknakal.com JIM YETTER Senior Associate jyetter@masseyknakal.com DANIEL MAURER Associate dmaurer@masseyknakal.com The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

7 MIXED-USE MULTIFAMILY BUILDING FOR SALE 534 West 178th Street New York, NY NEARBY PORT AUTHORITY, 181st STREET, & HIGHBRIDGE PARK 534 WEST 178TH STREET GROSS ANNUAL REVENUE Gross Annual Residential Revenue: $276,422 Gross Annual Commercial Revenue: $47,088 Combined Gross Annual Revenue: $323,510 $3,000 $2,500 $2,000 Upside Average Rent Residential Upside 41% ESTIMATED EXPENSES Taxes (13/14) $40,251 Res. Vacancy & Credit 3% / GAI $8,293 Comm. Vacancy & Credit 5% / GAI $2,354 $945 / Res. Unit $18,900 $390 / Res. Unit $7,800 $1.84 / Sq. Ft. $34,000 $0.18 / Sq. Ft. $3,300 $600 / Res. Unit $12,000 $292 / Mo. $3,500 $600 / Mo. $7,200 4% / GAI $12,940 Total: $150,538 Expenses Per Unit: $6,843 Gross Annual Revenue: $323,510 Less Expenses: $150,538 Net Operating Income: $172,971 $1,500 $1,000 $500 $0 28% 6 2-Bed 30% 53% $1,182 $1,030 $1,410 2 Bed 3 Bed 4 Bed Residential Unit Mix 10 3-Bed 50% 4 4-Bed 20% ROBERT M. SHAPIRO rshapiro@masseyknakal.com To recieve a confidential memorandum, please contact Exclusive Agents: JIM YETTER Senior Associate jyetter@masseyknakal.com DANIEL MAURER Associate dmaurer@masseyknakal.com The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

8 FOOT WIDE DEVELOPMENT SITE FOR SALE 542 West 153 rd Street New York, NY LOCATED IN SUGAR HILL, NEARBY CITY COLLEGE & COLUMBIA UNIVERSITY Broadway Amsterdam 100 Broadway Broadway West 153rd Street West 153rd Street West 152rd Street Riverside Drive Drive Amsterdam Property Information: The subject property is located on the south side Location: of West 153rd Street between Broadway and Amsterdam Avenue. Address: 542 West 153rd Street Block: 2084 Lot: 56 Lot Size: 100 x Lot Area: 9,992 Zoning: R6A *FAR: 3.00 Buildable Square Footage: 29,976 Assessment (13/14): $499,749 Taxes (13/14): $51,414 *Community Facility FAR: 3.00 PROPERTY DESCRIPTION: 542 West 153rd Street is a 29,976 buildable square foot development site located on the south side of West 153rd Street between Broadway and Amsterdam Avenue in the Hamilton Heights neighborhood of Harlem. The property was recently rezoned to R6A which allows for 3.0 FAR asof-right. Conveniently located near the burgeoning Broadway and Amsterdam retail corridors, this multifamily development is primed to take advantage of the increased rental demand in the neighborhood or the developing condominium market which is beginning to see sellout values close to $600 per square foot. The property is also close to neighborhood anchors such as The City College of New York, Columbia University, and Riverbank and St. Nicholas Parks. Public transportation is easily accessible via the 1 train stops at Broadway and 145th or 157th Streets and the A, B, C and D train stop at St. Nicholas Avenue and West 145th Street. ASK: $3,500,000 ~ $117 PBSF Riverbank State Park The Harlem Public The Chipped Cup The Grange Bar & Eatery :Existing Condominium Buildings To receive a confidential memorandum, please contact Exclusive Agents: ROBERT M. SHAPIRO rshapiro@masseyknakal.com JOSH LIPTON jlipton@masseyknakal.com JIM YETTER Senior Associate jyetter@masseyknakal.com The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. DANIEL MAURER Associate dmaurer@masseyknakal.com

9 MOTT HAVEN MULTIFAMILY BUILDING FOR SALE 786 East 149th Street Bronx, NY Location : B lock / Lot: Lot S i z e : zoning / FA R : B uilding S i z e : stories : gross sf : R es. U N I T S : assessment: Ta x es : South side of East 149th Street between Wales and Tinton Avenues 2581 / x 75 (Approx.) C1-4 / R7-1 / x 65 (Approx.) 4 13,000 SF (Approx.) 17 (Plus two supers units in basement) $100,260 (13/14) $13,215 (13/14) Massey Knakal Realty Ser vices has been retained on an exclusive basis to market 786 East 149th Street, located in the Mott Haven neighborhood of the Bronx. The property is a four-stor y walk-up apartment building and features seventeen (17) residential units (plus two basement supers units). Each unit is individually metered for gas and electric ser vice. The property has been well maintained and the roof was recently replaced 3-4 years ago. The building runs on #2 oil ser viced by a 500 gallon tank in the basement. The heating systems can be operated remotely by PC and there are also security cameras throughout the property that can be accessed off-site. The residential units are configured as four (4) 2-bedrooms and thirteen (13) 3-bedrooms. Six of the residential units have also been removed from rent stabilization, providing a landlord with the opportunity to increase rents freely as the market rises. The property benefits from close proximity to the Bruckner Expressway, No. 6 subway line stop at East 149th Street and multiple bus lines. ASKING PRICE: $1,550,000 UNIT BREAKDOWN CAP Rate UNIT TYPE # 2 Bedroom 3 Bedroom 4 13 Total Residential Units 17 GRM Price Per SF Price Per Unit 8.5% 6.3 $119 $91,176 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER

10 MOTT HAVEN MULTIFAMILY BUILDING FOR SALE 786 East 149th Street Bronx, NY E X PE N S E S in - place R E V E N U E Unit STATUS room COUNT 1A RS 4.0 Exp. Date Monthly Rent 2/28/2014 $806 1B RS 4.0 4/30/2014 $1,251 1C RS 4.0 6/1/2014 $1,200 1D FM 4.0 9/30/2013 $1,495 2A RS 9/30/2013 $1,287 Real Estate Taxes (12/13) Actual $13,215 $925 Per Unit $15,725 Gas & Electric $0.20 Per Sq. Ft. $2,600 Fuel Water and Sewer $1.65 Per Sq. Ft. $21,450 Insurance Repairs and Maintenance $450 Per Unit $425 Per Unit $7,650 $7,225 2B FM 9/21/2013 $1,300 Payroll & Benefits (Super) $1,500 Per Month $18,000 2C RS 2/7/2014 $1,300 Professional 1% of E.G.I. $2,320 2D RS 1/21/2014 $1,300 3A RS 1/31/2014 $1,200 Management 5% of E.G.I. $11,600 3B FM 9/30/2013 $1,100 3C FM 1/23/2014 $1,300 gross A N N U A L income : 3D RS 3/31/2014 $1,300 L ess vacancy 5 % 4A FM 9/30/2014 $1,350 4B RS 3/1/2014 $1,068 4C RS 8/31/2013 $1,033 4D FM 6/2/2014 $1,100 Bsmt RS 12/31/2013 $244,204 $(12,210) effective gross income : $231,994 ($99,785) L ess E x penses : N et O perating I ncome : $132,209 $960 AVG / RO O M 2 BR 3 BR Total $1,188 $1,200 $1,203 $297 $240 $251 sa ven ue AVG / U NI T Wa le # OF UN ITS Av en U NIT T YPE ue $20,350 ton 81 $99,785 Tin Total: Total Annual Expenses: Eas t 14 9th Stre et For further information or inspection, please contact Exclusive Agents: Nicholas Burns Andrew Essick Director of Sales nburns@masseyknakal.com x7756 Associate Director of Sales aessick@masseyknakal.com x7794 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER

11 White Plains Road Bronx, NY of Frontage on White Plains Road Prime C2-1 / R5 Development Site For Sale $88 / SF at Asking Price! Property Information Address: Location: Block: 3733 Lots: 5, 7 & 9 Zoning: White Plains Road Located on the East side of White Plains Road, between Bruckner Boulevard and Watson Avenue. C2-1 / R White Plains Road is a prime 200 wide development parcel located on the East side of White Plains Road between Bruckner Boulevard and Watson Avenue. The property is currently a vacant parcel of land consisting of three separate tax lots. Located in an C2-1 / R5 zoning district, the sites allow for a commercial FAR of 1.00 and a residential FAR of A developer can also utilize a community facility bonus or take advantage of the FRESH program to unlock additional buildable potential. White Plains Road is a highly trafficked corridor and the subject property lies in direct proximity to multiple national retailers, providing an opportunity for a developer to build a prime commercial or residential construction project. Lot Dimensions 200 ft x ft (approx, irreg.) Lot Area: 22,140 (approx, irreg.) FAR: Commercial / Manufacturing FAR: 1.00 Residential FAR: 1.25 Community Facility FAR: 2.00 FRESH Program FAR:* 1.90 * One additional square foot of residential floor area will be available for every square foot provided for a grocery store in a mixed-use building, up to a 20,000 square foot limit Buildable Sq. Ft. Commercial / Manufacturing BSF: 22,140 Residential BSF: 27,675 Community Facility BSF: 44,280 47,675 FRESH Program BSF:* 42, * Based on the assumption that a developer can achieve the additional FAR for a 20,000 sq. ft. grocery store. Combined Assessment (12/13) : $391,400 Combined Taxes (12/13): $39,735 All zoning, buildable footages and uses should be independently verified. For Additional Information, Please Contact Exclusive Sales Agents: Nicholas Burns Director of Sales nburns@masseyknakal.com x7756 Andrew Essick Associate Director of Sales aessick@masseyknakal.com x7794 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

12 White Plains Road Bronx, NY of Frontage on White Plains Road Prime C2-1 / R5 Development Site For Sale REDUCED ASKING PRICE: $1,950,000 For Additional Information, Please Contact Exclusive Sales Agents: Nicholas Burns Director of Sales nburns@masseyknakal.com x7756 Andrew Essick Associate Director of Sales aessick@masseyknakal.com x7794 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

13 Prime Residential Development Site For Sale 2065 Walton Avenue, Bronx, NY Property Information Address: 2065 Walton Avenue, Bronx NY Location: West side of Walton Avenue between West burnside Avenue and West 181st Street Block / Lot: / 60 Lot Dimensions: ft x ft (approx.) Lot Size S.F.: 7,643 (approx.) Zoning: R8 Residential F.A.R.: 6.02 Buildable Sq. Ft.: 46,011 (approx.) Assessments (13/14): $114,917 Taxes (13/14): $11,823 Description: This approximately 7,643 SF, R8 zoned development site allows for the construction of approximately 46,011 SF of residential space. The site is conveniently located near the MTA (4) subway line at East Burnside Avenue and Jerome Avenue. The property is ideally located within minutes of the High Bridge, NYC s oldest standing bridge. New York City recently began a $62 million restoration of this pedestrian crossing between Highbridge and Washington Heights in Upper Manhattan. The subject property is also nearby Yankee Stadium which is accessible by a 5 minute drive or 11 minute subway ride. Asking Price: $1,300,000 For further information, please contact Exclusive Agent: David Simone x7725 dsimone@masseyknakal.com The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

14 ~7,000 SF Office Building With On-Site Parking Halperin Avenue Bronx, NY Block / Lot: Location: 4074 / 11 South Side of Halperin Avenue between Williamsbridge Road & Blondell Avenue lot size (approx.): Lot area (Approx.): building 1 size (Approx.): building 2 size (Approx.): building 1 stories : building 2 stories : total sf (Approx.): zoning*: FAR*: 75 x 113 (irr.) 7,893 SF (irr.) 23 x 101 (irr.) 23 x 113 (irr.) 2 (1st level is covered parking) 2 6,857 SF M1-1 / C1-2 / R / 2.00 / 2.43 * Approx ft of lot lies in M1-1 district. Remaining ft lies in C1-2 / R6 district assessment (12/13)**: re taxes (12/13)**: $257,220 $26,113 ** Current ownership receives full tax exemption PROPERTY DESCRIPTION: Massey Knakal Realty Services has been retained on an exclusive basis to arrange for the sale of Halperin Avenue, a 6,857 SF office building with on-site parking for up to ten cars. The building is located in the Morris Park section of the Bronx and is East of Williamsbridge Road and just South of multiple medical facilities including Albert Einstein College of Medicine, Jacobi & Montefiore Medical Centers and Calvary Hospital. The building was constructed in 1975 and benefits from 75 of frontage on Halperin Avenue, builtout office space, a full fire alarm system, centralized heat and air conditioning and individual electric & gas meters. The property is being marketed as part of a bankruptcy sale. The organization would also consider structuring a sale/leaseback option with the potential purchasers. Currently located on the cusp of three zoning districts (M1-1 / C1-2 / R6), the property has commercial as well as mixed-use development potential. In addition, the subject is ideally located for an office user, investor, or converter to benefit from it s proximity to major medical insitutions in the immediate area. For further information or inspection, please contact one of the agents listed below. ASKING PRICE: $1,395,000 Robert Knakal Nicholas Burns rknakal@masseyknakal.com nburns@masseyknakal.com Chairman x7777 Director of Sales x7756 Elysa Berlin Andrew Essick eberlin@masseyknakal.com aessick@masseyknakal.com Director of Sales x7764 Senior Associate x7794 The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. THE BRONX BROOKLYN MANHATTAN NASSAU NEW JERSEY QUEENS STATEN ISLAND WESTCHESTER

15 FOUR PRIME MULTIFAMILY BUILDINGS FOR SALE 205 UNITS, WALK-UP & 3 ELEVATOR BUILDINGS The Boulevard Heights Portfolio Washington Heights & West Harlem, NY 3489 Broadway 519 West 143rd Street 610 West 163rd Street 548 West 164th Street Overview Financial Summary Location: The subject properties are located throughout West Harlem and Washington Heights. Asking Price: $50,000,000 Address: 3489 Broadway 519 W 143rd Street 610 W 163rd Street 548 W 164th Street Total/Average Type: Elevator Elevator Walk-Up Elevator Block/Lot: 2089/ / / /110 Gross Revenue: $3,694,662 Zoning/FAR: C1-4/R8 / 6.02 R7-2 / 3.44 R8 / 6.02 R7-2 / 3.44 Expenses: $1,150,331 Lot Dimensions: x x x x NOI: $2,544,331 Lot Area: 12,500 11,600 16,598 13,239 53,937 Stories: Building Dimensions: 100 x x x x 86 Cap Rate: 9% Gross Square Footage*: 108,656 29,520 47,930 56, ,740 Residential Units: GRM: Average Net Unit Size: 1,095 1, Commercial Units: Rent Per Net SF: $14.72 Assessment (13/14): $1,106,100 $342,780 $527,400 $539,550 $2,515,830 J-51 Exemption**: $- $- ($283,050) $- ($283,050) Average Rent Per Unit: $1,204 Adjusted Assessment (13/14): $1,106,100 $342,780 $244,350 $539,550 $2,232,780 Taxes (13/14): $145,795 $45,182 $32,208 $71,118 $294,303 Price Per Square Foot: $206 J-51 Abatement***: $- $- ($28,825) ($71,118) ($99,943) Adjusted Taxes (13/14): $145,795 $45,182 $3,383 $- $194,360 Price Per Unit: $243,902 *Please independently verify square footage **J-51 Exemption - 610: 24 Years Remaining ***J-51 Abatement - 548: $373,751 remaining, 610: $50,462 remaining PROPERTY DESCRIPTION: The Boulevard Heights Portfolio is comprised of 4 prime pre-war multifamily properties including 1 walk-up and 3 elevator buildings located throughout West Harlem and Washington Heights. Combined, the buildings account for 205 units and approximately 242,740 square feet, making it one of the largest listings in the Northern Manhattan market today. All of the properties are extremely well located and close to public transportation and neighborhood anchors such as Columbia Presbyterian Hospital, The City College of New York, and the newly improved Riverbank State Park. Current ownership has recently undergone the process of converting all of the buildings heating systems to burn natural gas in order to take advantage of significantly cheaper pricing. A permit and plans have been approved for the installation of an elevator at 610 West 163rd Street and they will be delivered at the time of closing along with a construction budget. Extensive renovations have been done to the retail space at 3489 Broadway which include two gut renovated stores with basement space that are suitable for restaurant use, and a building permit has been recently issued to expand the lobby to the street wall. This renovation will capitalize on the booming retail trend in the neighborhood which already includes neighborhood hits such as The Harlem Public and The Chipped Cup. In addition to the aforementioned renovations, The Boulevard Heights Portfolio has plenty of upside in its residential rents for new ownership to capitalize on. Currently, the properties are renting at a combined average rent per net square foot of $14.72 in a market that can easily achieve rents of $35 per net square foot. The properties extensive capital improvements coupled with their tremendous upside in rent combine for a truly unique opportunity to break-into or bolster one s share in one of New York City s most untapped and up and coming neighborhoods. For further information or inspection, please contact Exclusive Agents: ROBERT A KNAKAL Chairman rknakal@masseyknakal.com ROBERT M. SHAPIRO rshapiro@masseyknakal.com JAMES YETTER Senior Associate jyetter@masseyknakal.com JONATHAN HAGEMAN Sales Team Manager jhageman@masseyknakal.com The information contained herein has either been given to us by a reliable third party resource that is familiar with the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. JOSH LIPTON jlipton@masseyknakal.com

16 FOUR PRIME MULTIFAMILY BUILDINGS FOR SALE 205 UNITS, WALK-UP & 3 ELEVATOR BUILDINGS The Boulevard Heights Portfolio Washington Heights & West Harlem, NY Overview Building Square Feet Units Res. Rent Per NSF Res. Rent Per Unit Annual Revene 3489 Broadway 108, $13.98 $1,298 $1,780, West 143rd Street 29, $18.57 $1,515 $466, West 163rd Street 47, $17.71 $1,092 $721, West 164th Street 56, $19 $1,041 $726, Total 242, $14.72 $1,204 $3,694,662 Residential Unit Breakdown RS, % Four Bed, 50 25% One Bed, 28 14% RC, 17 8% FM, 21 10% RS8, 21 10% Three Bed, 53 26% Two Bed, 72 35% Asking Price: $50,000,000 - Price Per Square Foot: $206 - Price Per Unit: $243,902 For further information or inspection, please contact Exclusive Agents: ROBERT A KNAKAL Chairman rknakal@masseyknakal.com ROBERT M. SHAPIRO rshapiro@masseyknakal.com JAMES YETTER Senior Associate jyetter@masseyknakal.com JONATHAN HAGEMAN Sales Team Manager jhageman@masseyknakal.com The information contained herein has either been given to us by a reliable third party resource that is familiar with the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. JOSH LIPTON jlipton@masseyknakal.com

17 FOUR PRIME MULTIFAMILY BUILDINGS FOR SALE 205 UNITS, WALK-UP & 3 ELEVATOR BUILDINGS The Boulevard Heights Portfolio Unit Sq. Ft. Beds Status Expiration Rent RC $ ,078 3 RS 8/31/2014 $ ,343 3 FM 9/30/2013 $2, RS 6/30/2014 $ FM 4/30/2014 $1, ,197 3 RS 6/30/2013 $ ,344 4 RC $ ,016 3 RS 8/31/2014 $ RS 8/31/2013 $1,447 Washington Heights & West Harlem, NY 3489 Broadway Unit Sq. Ft. Beds Status Expiration Rent 31 1,078 3 RC $ ,343 3 RS 11/30/2014 $1, RC $ RS 3/31/2013 $1, ,197 3 RS 7/31/2013 $1, ,344 4 RS 11/30/2013 $ ,016 3 RS 5/31/2014 $ RS 2/28/2015 $1, ,078 3 RS 8/31/2013 $1, ,343 3 RS 2/28/2014 $ RS 11/1/2013 $2, RS 12/31/2013 $1, ,197 3 FM 4/30/2014 $2, ,344 3 FM 1/31/2014 $2, ,016 1 RS 6/30/2014 $1, RS 3/31/2015 $1, ,078 3 RS 3/31/2015 $1, ,343 3 RS 3/31/2015 $1, RS 5/31/2014 $ RS 5/31/2014 $ ,197 3 RS8 6/30/2013 $1, ,344 4 FM VACANT $2, ,016 2 FM VACANT $2, RS 12/31/2013 $1,150 Unit Sq. Ft. Beds Status Expiration Rent 61 1,078 3 RC $ ,343 3 FM 12/31/2013 $1, RC $ RS 11/30/2014 $ ,197 3 RS 3/31/2015 $1, ,344 4 RS 7/31/2014 $1, ,016 3 RS8 5/31/2014 $1, RS 10/31/2013 $1, ,078 3 RS 7/31/2013 $ ,343 3 RS 6/30/2014 $1, RC $ RS 1/31/2014 $1, ,197 3 RS 8/31/2014 $2, ,344 4 RS8 6/30/2013 $1, ,016 3 RS 12/31/2013 $1, RS 12/31/2014 $ ,078 3 RS 10/31/2013 $1, ,343 3 RS 8/31/2013 $ RS 3/31/2014 $1, RS 7/31/2014 $ ,197 3 RS 7/31/2013 $ ,344 4 RS 7/31/2013 $ ,016 3 RS 5/31/2015 $1, RS 2/29/2014 $998 The information contained herein has either been given to us by a reliable third party resource that is familiar with the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

18 FOUR PRIME MULTIFAMILY BUILDINGS FOR SALE 205 UNITS, WALK-UP & 3 ELEVATOR BUILDINGS The Boulevard Heights Portfolio Washington Heights & West Harlem, NY Unit Sq. Ft. Beds Status Expiration Rent 91 1,078 3 RS 12/31/2013 $2, ,343 3 RS 8/31/2013 $1, RS 1/31/2014 $1, RS 2/29/2014 $1, ,197 3 RS 7/31/2013 $ ,344 4 RS 12/31/2014 $1, ,016 3 RS8 12/31/2013 $ RS 5/31/2014 $1, ,078 3 RS 3/31/2014 $1, ,343 3 FM 12/31/2013 $2, RS 4/30/2014 $1, RS 12/31/2013 $1, ,197 3 RS 8/31/2013 $ ,344 4 RS 8/31/2014 $ ,016 3 FM 6/30/2014 $2, FM 12/31/2013 $1,700 MCI* $3,987 LAUN (projected) $750 Projected Commercial Revenue Unit *Sq. Ft. RPSF Expiration Rent ST1 (s) 4,020 $72.97 $24,445 ST2 (n) 4,162 $70.48 $24,445 *Basement Sq. Ft.: ST1: 2,572 ST2: 3,742 Monthly Commercial Revenue: $48,889 Gross Annual Income: $586,668 Average Rent Per Square Foot: $ Broadway Combined Revenue Combined Monthly Revenue: $148,387 Gross Annual Income: $1,780,645 The Harlem Public The Chipped Cup Renovated Retail Monthly Residential Revenue: $99,498 Gross Annual Income: $1,193,977 Average Rent Per Net Square Foot: $13.98 Average Monthly Rent Per Unit: $1,298 *Portfolio wide MCIs total $137,954 / $ per room ($12.27 per room per month) 3489 The information contained herein has either been given to us by a reliable third party resource that is familiar with the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

19 FOUR PRIME MULTIFAMILY BUILDINGS FOR SALE 205 UNITS, WALK-UP & 3 ELEVATOR BUILDINGS The Boulevard Heights Portfolio Washington Heights & West Harlem, NY 519 West 143rd Street Unit Sq. Ft. Beds Status Expiration Rent RS 1/31/2014 $1, ,201 4 RS 3/31/2014 $1, ,176 4 RS 12/31/2013 $ ,182 4 RS 12/31/2013 $1, ,220 4 RS 9/30/2014 $1, ,182 4 RS 11/30/2014 $1, ,176 4 RS 11/30/2014 $1, ,182 4 RS 5/31/2014 $1, ,220 4 RS 4/30/2014 $1, ,182 4 RS 8/31/2014 $1, ,176 4 RS 11/30/2014 $1,145 Unit Sq. Ft. Beds Status Expiration Rent 44 1,182 4 RS 3/31/2015 $1, ,220 4 RS8 7/31/2013 $1, ,182 4 RS 8/31/2014 $2, ,176 4 RS 3/31/2014 $1, ,182 4 RS 5/31/2014 $1, ,220 4 RS 10/31/2013 $1, ,182 4 FM 11/30/2013 $2, ,176 FM 4/30/2014 $2, ,182 4 RS 10/31/2014 $1,115 MCI* $1,718 LAUN (projected) $ ,182 4 RS 12/31/2014 $2, ,220 4 FM 5/31/2014 $2, ,182 4 RS 5/31/2014 $1, ,176 4 RS8 4/30/2014 $984 *Portfolio wide MCIs total $137,954 / $ per room ($12.27 per room per month) The information contained herein has either been given to us by a reliable third party resource that is familiar with the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. Monthly Residential Revenue: $38,836 Gross Annual Income: $466,035 Average Rent Per Net Square Foot: $18.57 Average Monthly Rent Per Unit: $1,515

20 FOUR PRIME MULTIFAMILY BUILDINGS FOR SALE 205 UNITS, WALK-UP & 3 ELEVATOR BUILDINGS The Boulevard Heights Portfolio Washington Heights & West Harlem, NY Unit Sq. Ft. Beds Status Expiration Rent 610 West 163rd Street Unit Sq. Ft. Beds Status Expiration Rent 03D RC $350 04A RS8 12/31/2013 $1,319 04B 1,081 3 RS 10/31/2013 $872 04C 1,247 4 RS 8/31/2014 $2,403 04D RS 6/30/2014 $838 05A RS8 10/31/2014 $1,260 05B RC $466 05C FM 3/31/2014 $1,350 05D RS8 10/31/2013 $836 06A RS8 12/31/2013 $1,354 06B 1,081 3 RS 12/31/2014 $964 06C 1,247 4 RS 8/31/2013 $2,495 01A RS8 7/31/2013 $1,018 06D RS 12/31/2014 $1,017 01B RS8 4/30/2013 $832 07A RS 2/29/2014 $695 01C RS 8/31/2013 $1,076 07B RC $385 01D RS 6/30/2013 $918 07C RS 3/31/2014 $1,573 02A RS 5/31/2015 $988 07D FM 1/31/2014 $1,829 02B 1,081 3 RS 5/31/2015 $938 08A RS 3/31/2014 $835 02C RS 2/29/2014 $824 08B 1,081 3 RS 10/31/2014 $702 02D RS 1/31/2015 $847 08C RS 12/31/2014 $666 03A RS 7/31/2013 $883 08D RS 12/31/2014 $1,038 03B RC $354 09A RS 9/30/2014 $1,305 03C RS 12/31/2013 $1,428 09B RS8 11/30/2013 $871 *Portfolio wide MCIs total $137,954 / $ per room ($12.27 per room per month) Unit Sq. Ft. Beds Status Expiration Rent 09C RS 11/30/2014 $957 09D RS 12/31/2014 $844 0CC 0 2 FM 10/31/2014 $1,530 10A RS 7/31/2013 $890 10B 1,081 3 RS 3/31/2014 $910 10C 1,247 4 RS 3/31/2014 $902 10D RS 10/31/2013 $1,750 11A RS 1/31/2014 $937 11D RS 12/31/2013 $1,477 12A RS 3/31/2014 $841 12D FM 4/30/2014 $1,700 14A FM 4/30/2014 $1,650 14D RS 12/31/2013 $848 15A RS 10/31/2013 $1,142 15D RS 3/31/2014 $867 16A RS 12/31/2013 $1,700 16D RS 3/31/2014 $822 8CC FM 12/31/2013 $1,500 MCI* $2,589 LAUN (projected) $750 The information contained herein has either been given to us by a reliable third party resource that is familiar with the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. Monthly Residential Revenue: $60,133 Gross Annual Income: $721,600 Average Rent Per Net Square Foot: $17.71 Average Monthly Rent Per Unit: $1,092

21 FOUR PRIME MULTIFAMILY BUILDINGS FOR SALE 205 UNITS, WALK-UP & 3 ELEVATOR BUILDINGS The Boulevard Heights Portfolio Washington Heights & West Harlem, NY Unit Sq. Ft. Beds Status Expiration Rent 1A 1,192 3 RS8 7/31/2013 $1,403 1B 1,189 4 RS 1/31/2014 $1,055 1C RS 2/28/2014 $904 1D RS 10/31/2014 $902 1E RS 2/28/2014 $1,600 1F RS 3/31/2013 $876 1G 1,000 3 RC $811 1H 1,070 4 RS8 7/31/2014 $1,850 1I FM 3/31/2014 $992 2A 1,081 3 RC $744 2B 1,189 4 RS 7/31/2013 $871 2C RS 3/31/2014 $ West 164th Street Unit Sq. Ft. Beds Status Expiration Rent 2D RC $571 2E RS 2/28/2014 $1,479 2F RS 11/30/2013 $883 2G 1,000 3 RS 7/31/2014 $654 2H 1,071 4 RS 5/31/2014 $998 2I 1,062 4 RS 2/28/2014 $793 3A 1,081 3 RS 10/31/2014 $876 3B 1,189 4 RS 12/31/2013 $2,142 3C RS8 4/30/2015 $1,208 3D RC $453 3E RS 3/31/2014 $1,066 3F RS 5/31/2014 $927 3G 1,000 3 RS 5/31/2014 $1,037 3H 1,071 4 RS 10/31/2014 $1,005 3I 1,062 4 RS 10/31/2013 $754 4A 1,081 3 RS8 3/31/2014 $1,766 4B 1,189 4 RS 12/31/2013 $846 4C RS 3/31/2014 $1,650 4D RS 10/31/2014 $1,050 4E RS 8/31/2013 $538 4F FM 12/31/2013 $1,650 4G 1,000 3 RS 1/31/2014 $794 4H 1,071 4 RS 4/30/2014 $996 4I 1,062 4 RS8 10/31/2013 $920 Unit Sq. Ft. Beds Status Expiration Rent 5A 1,081 3 RS 7/31/2013 $754 5B 1,189 4 RS 1/31/2014 $910 5C RS 1/31/2014 $826 5D RS8 11/30/2014 $1,386 5E RS 7/31/2014 $767 5F RS8 10/31/2014 $823 5G 1,000 3 RS8 9/30/2014 $1,105 5H 1,071 4 RS 3/31/2013 $2,260 5I 1,062 4 RS 12/31/2014 $1,393 6A 1,081 3 RC $652 6B 1,189 4 RS 6/30/2013 $908 6C RS 10/31/2014 $1,302 6D RS 12/31/2014 $972 6E RC $521 6F RS 10/31/2014 $1,421 6G 1,000 3 RS 7/31/2014 $840 6H 1,071 4 RS 7/31/2014 $887 6I 1,062 4 RS 2/28/2015 $1,003 MCI* $3,202 LAUN $750 Monthly Residential Revenue: $60,532 Gross Annual Income: $726,382 Average Rent Per Net Square Foot: $19 Average Monthly Rent Per Unit: $1,041 *Portfolio wide MCIs total $137,954 / $ per room ($12.27 per room per month) The information contained herein has either been given to us by a reliable third party resource that is familiar with the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

22 FOUR PRIME MULTIFAMILY BUILDINGS FOR SALE 205 UNITS, WALK-UP & 3 ELEVATOR BUILDINGS The Boulevard Heights Portfolio Washington Heights & West Harlem, NY Combined Gross Annual Revenue Combined Gross Annual Residential Revenue: $3,107,994 Combined Gross Annual Commercial Revenue: $586,668 Combined Gross Annual Revenue: $3,694,662 $3,000 $2,500 $2,000 $1,500 Upside Average Rent Residential Upside 48% 46% 18% 46% Estimated Expenses Taxes (13/14): $194,360 Res. Vacancy & Credit 3% / GAI $93,240 Comm. Vacancy & Credit 5% / GAI $29,333 $900/ Res. Unit $182,700 $400 / Res. Unit $81,200 Fuel (Gas) Estimated $200,000 $0.25 / Sq. Ft. $60,685 Repairs & $550 / Res. Unit $111,650 Super $1,500/ Mo. $72,000 Porter $500/ Mo. $18,000 3% / GAI $107,163 Total Expenses: $1,150,331 Expenses Per Res. Unit: $5,667 $1,000 $500 $1,224 $1,076 $1,236 $1,342 Summary Gross Annual Income: $3,694,662 Less Expenses: $1,150,331 Net Operating Income: $2,544,331 $0 One Bed Two Bed Three Bed Four Bed Asking Price: $50,000,000 - Price Per Square Foot: $206 - Price Per Unit: $243,902 For further information or inspection, please contact Exclusive Agents: ROBERT A KNAKAL Chairman rknakal@masseyknakal.com ROBERT M. SHAPIRO rshapiro@masseyknakal.com JAMES YETTER Senior Associate jyetter@masseyknakal.com JONATHAN HAGEMAN Sales Team Manager jhageman@masseyknakal.com The information contained herein has either been given to us by a reliable third party resource that is familiar with the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN. JOSH LIPTON jlipton@masseyknakal.com

23 PRIME 79-UNIT ELEVATOR APARTMENT BUILDING FOR SALE 140 E. HARTSDALE AVENUE, HARTSDALE, NY PROPERTY INDICATORS Section / Block: 31 / 21 Lot: 8211 Lot Sq. Ft.: 27,520 Sq. Ft. (approx.) Building Dimensions: 153 X 180 IRR (approx.) Stories: 6 Units: 79 Building Sq. Ft.: 82,794 SF (approx.) Building Class: Apartment (411) Assessed (12/13): $285,000 Taxes (12/13): $261,000 PROPERTY HIGHLIGHTS Real Estate Taxes (12/13): $261,000 Prime Westchester County Location Other Operating Expenses: $305,435 Average Rent Per Sq. Ft. of $19.30 Total Operating Expenses: $566,435 Average Rent Per Unit of $1, Net Operating Income: Price Per Sq. Ft.: $ $857, units feature terraces / outdoor space Proximity to the Bronx River Parkway Access to the Metro North Train (2 blocks) Just blocks away from Central Avenue 17 outdoor parking spaces / 28 indoor parking spaces Adjacent to the Scarsdale Country Club PROPERTY DESCRIPTION The property is a six-story, elevator serviced apartment building consisting of 79 units, situated on the west side of East Hartsdale Avenue in Hartsdale, NY. This building features two elevators, 28 indoor parking spots, and 17 outdoor parking spots. The building consists of two (2) studios, forty-two (42) one bedroom apartments, thirty (30) two bedroom apartments, and five (5) three bedroom apartments. With an average rent per sq. ft. of $19.30, there is tremendous upside potential. The super is under a union contract (32BJ). This is a rare opportunity for an investor to own one of the largest apartment buildings in one of more desirable neighborhoods in Westchester. 205 Montague Street, 3rd Floor 275 Madison Avenue, 3rd Floor Queens Boulevard, 14 th Floor Brooklyn, NY ASKING PRICE: New York, NY $19,500, Forest Hills, NY T: / F: T: / F: T: / F: For further information or inspection, please contact Exclusive Agent: Thomas A. Donovan Partner tdonovan@masseyknakal.com Tommy Lin Director of Sales tlin@masseyknakal.com Gross Annual Income: $1,423,568 Eugene Kim Director of Sales ekim@masseyknakal.com Robert Rappa Associate rrappa@masseyknakal.com The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN Queens Blvd. 14 th Floor Forest Hills, NY Fax