VISION BUILDERS PORTFOLIO NEW YORK NY

M A R K E T I N G T E A M Peter Von Der Ahe 260 Madison Avenue, 5th Floor New York, NY Tel: (212) 430-5114 Fax: (646) 349-3308 pvonderahe@mmreis.com Scott Edelstein 260 Madison Avenue, 5th Floor New York, NY Tel: (212) 430-5137 Fax: (212) 659-0286 sedelstein@mmreis.com Seth Glasser 260 Madison Avenue, 5th Floor New York, NY 10016 Tel: (212) 430-5136 Fax: (917) 210-3165 seth.glasser@mmreis.com Rafi Moskowitz 260 Madison Avenue, 5th Floor New York, NY 10016 Tel: (212) 430-6146 Fax: (212) 430-5110 rafi.moskowitz@mmreis.com Andrew Dansker, Financing Inquiries 260 Madison Avenue, 5th Floor New York, NY Tel: (212) 430-5168 Fax: (212) 500-5110 adansker@marcusmillichap.com

TABLE OF CONTENTS Section I INVESTMENT OVERVIEW Section II PRICING & FINANCIAL ANALYSIS Section III PROPERTY DESCRIPTION

INVESTMENT OVERVIEW

INVESTMENT OVERVIEW VISION BUILDERS PORTFOLIO is being offered for $21,000,000 INVESTMENT DESCRIPTION Marcus & Millichap is pleased to offer the Vision Builders Portfolio, a six building, 107 unit package located in Central Harlem of Upper Manhattan. The buildings, 224 West 149th Street (block 2034, lot 48), 228 West 149th Street (block 2034, lot 50), 240 West 149th Street (block 2034, lot 55), 244 West 149th Street (block 2034, 56), 248 West 149th Street (block 2034, lot 58), and 298 West 149th Street (block 2034, lot 61), are situated between Fredrick Douglass and Adam C. Powell Boulevards and total 96,980 square feet and are zoned R7-2. The portfolio is currently under a J- 51 tax abatement which runs through 2032. INVESTMENT HIGHLIGHTS Six Building, 107 Unit Package in Central Harlem HPD Regulatory Agreement Through 2032 J-51 Tax Abatement Through 2032 100% Rent Stabilized With Zero Taxes Offered For Less Than $200,000 Per Unit Or $217 Per Foot Favorable Unit Mix 70 Two Bedrooms, 30 One Bedrooms, Five Studios And Two Retail Stores Well-Maintained Buildings Per HPD Guidelines With Tremendous Upside Close Proximity to 145th Street Retail Thoroughfare, Universities, Hospitals, and Public Transportation

PRICING & FINANCIAL ANALYSIS

PRICING & FINANCIAL ANALYSIS FINANCIAL OVERVIEW CONFIDENTIAL OFFERING MEMORANDUM This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2016 Marcus & Millichap

PRICING & FINANCIAL ANALYSIS RENT ROLL CONFIDENTIAL OFFERING MEMORANDUM This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2016 Marcus & Millichap

PRICING & FINANCIAL ANALYSIS RENT ROLL, continued CONFIDENTIAL OFFERING MEMORANDUM This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2016 Marcus & Millichap

PRICING & FINANCIAL ANALYSIS CASH FLOW CONFIDENTIAL OFFERING MEMORANDUM This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2016 Marcus & Millichap

PRICING & FINANCIAL ANALYSIS RENT ROLL ANALYSIS CONFIDENTIAL OFFERING MEMORANDUM This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2016 Marcus & Millichap

PROPERTY DESCRIPTIONS

PROPERTY DESCRIPTIONS 224 West 149 Street 228 West 149 Street 240 West 149 Street City New York New York New York State NY NY NY Block & Lot 2034-48 2034-50 2034-55 Lot Dimensions 40 x 99 40 x 99 40 x 99 Lot SF 3,997 3,997 3,997 Building Dimensions 40 x 86 40 x 86 40 x 85 Building SF 15,444 15,444 15,444 Zoning R7-2 R7-2 R7-2 Max FAR 3.44 3.44 3.44 Available Air Rights 0 0 0 Landmark District None None None Historic District None None None Annual Tax Bill space space space Tax Class 2 2 2 244 West 149 Street 2800 Fredrick Douglass Bl 248 West 149 Street City New York New York New York State NY NY NY Block & Lot 2034-56 2034-61 2034-58 Lot Dimensions 40 x 99 37 x 100 40 x 99 Lot SF 3,997 3,742 3,997 Building Dimensions 40 x 85 37 x 96 40 x 85 Building SF 15,558 19,646 15,444 Zoning R7-2 R7-2 R7-2 Max FAR 3.44 3.44 3.44 Available Air Rights 0 0 0 Landmark District None None None Historic District None None None Annual Tax Bill space space space Tax Class 2 2 2

TAX MAP BOROUGH MAP SUBJECT PROPERTIES

PROPERTY PHOTOS 224 & 228 WEST 149 TH STREET

PROPERTY PHOTOS 240, 244, & 248 WEST 149 TH STREET

PROPERTY PHOTOS 298 WEST 149 TH STREET

PROPERTY PHOTOS