MARKET RENTAL ANALYSIS OF A: MEDICAL OFFICE SPACE LOCATED AT XXXXXXXX SUITE XXXX NEW YORK, NEW YORK 10017 DATE OF RENTAL VALUE: DECEMBER 3, 2014 DATE OF REPORT: DECEMBER 10, 2014 PREPARED FOR: XXXXXXXXXXXXXX PREPARED BY: LAVAL MANAGEMENT, LLC 2310 OCEAN PARKWAY SUITE 2A BROOKLYN, NEW YORK 11223 14-421
LAVAL MANAGEMENT, LLC Real Estate Appraisers, Consultants 2310 Ocean Parkway, Ste. 2A, Brooklyn, NY 11223 XXXXXXXXXXX Date: December 10, 2014 Re: Market Rental Analysis of Medical Office Space @ XXXX Avenue, Ste. XXX, New York, New York 10017 Dear Mr. XXXXXl, In accordance with our assignment, we have performed a rental analysis of the above referenced property for the purpose of estimating the fair market rent, as of December 3, 2014, the date of inspection. Value provided for the portion suite XXX, within the 22-story office building. The space used as the medical office. The building is a Class A elevator office building, built in circa 1958 and classified as O4. The 4,300+ SF area of suite 601 is leased to XXX, LLC, a New York limited liability company. The terms of the lease permit subleasing, and therefore subleasing of the section that is the subject of this report is considered legal. The space occupied by the primary lessee was built out as medical office in 2011. The subject unit s current use as medical office space is considered a legal use. The improvements considered are: the part of suite XXX, a finished medical office space: consult office, two exam rooms and 50% of front desk. The shared common area consists of: the waiting room, photography room, kitchen, hallways and lavatories the size estimated at 860+SF. The subject rental space considered (see addenda) is a 675+ SF, and 30% of the common area, 258+SF. The total area considered is 933+SF. The client also requested an opinion of the daily rental rate for use of the space as currently outfitted. The appropriate methodology is to establish the estimate of the fair market rent for the entire suite 601; it is based on the current market conditions. The current market rent estimate will be prorated to the area considered with the common areas to the daily rate basis. The subject building is located at the southwest corner of XXXX Avenue and East 41nd Street in the Murray Hill section of the Borough of New York, City and State of New York. An inspection of the site and neighborhood was conducted, and all available data affecting the subject's fair market rent was analyzed. As a result of these investigations and subject to the enclosed limiting conditions, the "as is" Annual Fair Market Rent of the subject property, as of December 3, 2014, the date of inspection, is: FOURTY NINE THOUSAND FOUR HUNDERED FOURTY NINE DOLLARS ($49,449) ($53/SF) (190.12/day)
Additional Rent: The above fair market rent was estimated based modified gross lease terms. The tenant will be responsible for increase in real estate taxes over the base in 2014/15 and, all utilities, as well as interior maintenance, repairs, snow removal and cleaning. Responsibilities of Owner: The fair market rent assumes the owner to be responsible for structural repairs, maintenance and real estate taxes. Notes: In lease terms of five to ten years in the subject s market, it is typical for the rent to increase between 2% and 5% annually. No free rent concessions are being offered in the market and none is offered for the subject or the comparables. The report was prepared to meet the specific requirements of the client for the purposes stated herein. No reliance is to be placed upon it for any other purpose. It is intended for their use in conjunction with lease negotiations with the landlord. A copy of our detailed report follows and forms an integral part of the valuation. Respectfully submitted, LAVAL MANAGEMENT, LLC. Alexander M. Yampolsky, CSA-G Managing Director, N.Y State Certified General RE Appraiser #46000046357
TABLE OF CONTENTS SUMMARY OF SALIENT FACTS AND CONCLUSIONS... 1 CERTIFICATE OF REPORT... 2 ASSUMPTIONS AND LIMITING CONDITIONS... 4 PURPOSE, DATE AND INTENDED USE/USERS OF THE STUDY... 6 IDENTIFICATION OF THE PROPERTY... 6 SALES HISTORY... 6 SCOPE OF WORK... 6 THE VALUATION PROCESS... 8 ADJUSTMENTS TO COMPARABLE RENTALS... 9 ANALYSIS OF ADJUSTMENTS... 10 CONCLUSION/RECONCILIATION... 11 ADDENDA... 1 Qualifications of Alexander M. Yampolsky, CSA-G Subject photos Floor plan
1 SUMMARY OF SALIENT FACTS AND CONCLUSIONS Property Address: Medical office space at XXXX Avenue Ste. XXX New York, NY 10017 Block/Lot: 1295/40 Census Tract: 0080.00 Date of Valuation: December 3, 2014 Purpose: Primary Lessee: Ownership of the building: Subject Unit: Subject Area: Estimate fair market rent as of the date of inspection based on its highest and best use. XXXXX LLC Current owner of record is 630 Third Ave CP. Unit #XXX(portion) within a 22-story elevator office building 675+SF and 30% of the common space, the total area considered is 933+SF Zoning: Commercial C5-3 Value Conclusion: "As Is" Fair Market Rent: $49,449 per annum $53/SF/annum $190.19/day Additional Rent: The above fair market rent was estimated based on modified gross lease terms. The tenant is responsible for 100% real estate taxes increases over the base in 2014/15, all utilities, as well as interior maintenance and cleaning. Responsibilities of Owner: The fair market rent assumes the owner to be responsible for structural repairs and maintenance and real estate taxes. Notes: In lease terms of five to ten years in the subject s market, it is typical for the rent to increase between 2% and 5% annually. No free rent concessions are being offered in the market and none is offered for the subject or the comparables.
2 CERTIFICATE OF REPORT The undersigned do hereby certify that, except as otherwise noted in this report: 1. We have no present or anticipated future interest in the real estate that is the subject of this appraisal report. Neither the employment to make the appraisal nor the compensation is contingent upon the value conclusion reached. 2. We have no present or prospective personal interest or bias with respect to the subject property of this appraisal report or the parties involved. 3. To the best of our knowledge and belief the statements of fact contained in this appraisal report, upon which the analyses, opinions, and conclusions expressed herein are based, are true and correct. 4. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and is our personal, impartial, and unbiased professional analyses, opinions and conclusions. 5. The analysis, opinions and conclusions were developed and this appraisal report prepared in conformity with the Uniform Standards of Professional Appraisal Practice and is subject to the requirements of the Appraisal Institute. 6. No one other than the undersigned has prepared the analyses, opinions, and conclusions concerning real estate that are set forth in this appraisal report. 7. Our engagement for completing the assignment was not contingent upon developing or reporting predetermined results. Our compensation for completing this assignment is not contingent upon the development or reporting of value or direction of value that favors the cause of the client, the amount of value opinion, the attainment of a specific result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 8. No change of any item of the appraisal report shall be made by anyone other than the appraisers and the appraisers shall have no responsibility for any such unauthorized change. 9. That this appraisal has been prepared in compliance with regulations of the Federal Home Loan Bank Board, Office of Thrift Supervision, the Financial Institutions Reform Recovery and Enforcement Act of 1989 (FIRREA), and the Office of Comptroller of the Currency. 10. Alexander M. Yampolsky, CSA-G has made a personal inspection of the property that is the subject of this report. 11. That Alexander M. Yampolsky, CSA-G is currently New York State Certified Real Estate General Appraiser.
12. That Alexander M. Yampolsky, CSA-G certify that he is competent and fully qualified to prepare appraisals of the subject property type. 13. In addition to compliance with the Uniform Standards of Professional Appraisal Practice (USPAP), the undersigned appraiser hereby certifies that: This appraisal was performed for the intended use and user as stated within the report in accordance with our scope of work. The appraiser is not responsible for unauthorized use of this report. This is a rental analysis and not a full appraisal report.; Data on current revenues, expenses and vacancies for the subject have been analyzed and reported where available and applicable (if the subject is income-producing real estate); Any personal property, fixtures, or intangible items that are not real property but are included in the appraisal have been identified and separately valued if required, and that the impact of their inclusion or exclusion on the estimate of market rent has been discussed in this report; and, The space being analyzed has been finished as medical offices. Any personal property, fixtures, or intangible items that have been included in the rent survey, have been separately identified, and the impact of their inclusion or exclusion on the estimate of market rent have been discussed in this report; and, If any information required or deemed pertinent to the completion of the report was unavailable, the fact and the effort to obtain the information have been disclosed and explained in this report. 3 December 10, 2014 Date Alexander M. Yampolsky, CSA-G New York State Certified General Real Estate Appraiser Certification #46000046357
4 ASSUMPTIONS AND LIMITING CONDITIONS This report is made subject to the following assumptions and limiting conditions: No survey was made therefore, dimensions of the land and buildings are either taken from records believed to be accurate, however, no responsibility is assumed for their accuracy. Any sketch or identified survey included in this report is only for the purpose of assisting the reader to visualize the property. The submission of this report does not require future testimony or appearance in court or before any public agency without special arrangements for that eventuality. Therefore, except as hereinafter provided, the party for whom this report was prepared may distribute copies of it, in the report's entirety, to such third parties as may be selected by the party for whom this appraisal was prepared; however, selected portions of this report shall not be given to third parties without prior written consent of the signatories. Neither all nor any part of this report shall be disseminated to the general public by the use of advertising media, public relations media, news media, sales media or other media for public communication without prior written consent of the signatories of this report. As per prior agreement, the Client agrees that this report shall not be quoted or referred to in any report or financial statement of the Client or in any document filed with any governmental agency without the written consent of the appraiser. If the client is a governmental agency, it may be utilized in accordance with the specific agreements made between the client and Laval Management, LLC. No responsibility is assumed for matters legal in character or nature, nor matters of survey or of engineering. In the existing structures, no responsibility is assumed as to the physical soundness or mechanical adequacy of the realty, except those items specifically mentioned. The property is appraised as if free and clear, with no adverse easement, encroachments, restriction, etc., unless otherwise stated. No opinion is rendered as to the title, which is presumed to be good and held in Fee Simple. No violations are assumed to exist. No liability is assumed regarding the existence, if any, for mineral deposits or their influence on value. The data in this report has been secured from sources that are believed reliable, but no liability is accepted as to their validity. Where applicable, prudent management and operations are assumed. A formal engineering study of the building was not prepared. While we cannot certify to the physical soundness or the mechanical adequacy of the structure, from what we have observed, we suspect no serious deficiencies. Based on the age and condition of the improvements, we forecast an adequate remaining economic life. This report was made for the purpose stated and should not be used for any other purpose. The findings, forecast, projections, assumptions or conclusions contained in this report are the opinions of the appraiser. They are not intended, nor should they be construed as an assurance that an event or series of events will or will not occur.
The heating, electrical, plumbing and other mechanical systems of the property are assumed to be efficient, functionally adequate and in operating order. The subject property, unless otherwise stated is presumed to be free of hazardous or toxic materials. The appraiser has no professional training in this area and makes no representations as such. If further information is required, we recommend consultation with an engineer specially trained in asbestos detection and an expert in subsoil contamination. The value reported herein applies only to real property interest being appraised and does not apply with equal validity to any other property interest. The value of the real property interest being appraised plus the value of any other property interest(s) may or may not equal the value of the fee simple interest in the real estate that is the subject of this appraisal. The appraisers are not aware as to the existence of asbestos. Asbestos surveys are a specialized field requiring advanced training that the appraisers are not skilled in, and do not represent themselves to be. We recommend, due to the nature of the matter, to obtain a report on this factor by a licensed investigator if further information is required. The conclusions and recommendations presented in this report were reached based on our analysis of the information available to us from public records, published data sources, subject ownership and principals active in the market. Information, estimates and opinions furnished to the Appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct. However, the Appraiser can assume no responsibility for accuracy of such items furnished to the Appraiser. Our conclusions are based upon economic conditions as of the effective date of the appraisal. Any subsequent, unforeseen adverse economic condition that might occur could impact the subject value. This report is considered a real property appraisal consulting report, according to the Uniform Standards of Appraisal Practice (USPAP), Standards Rule 4-2. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three year period immediately preceding acceptance of this assignment. Exposure time is always presumed to precede the effective date of appraisal. A normal exposure time for the subject property is estimated to be 6-12 months. This conclusion is predicated on interviews with brokers and other real estate industry sources and on information obtained in the verification process. The value reported herein presumes such an exposure time. The appraisers are not aware of any adverse sub-soil condition and/or the existence of any hazardous waste materials and make no representation in this regard unless otherwise noted in this report. 5
6 PURPOSE, DATE AND INTENDED USE/USERS OF THE MARKET RENT STUDY The purpose of this assignment is to estimate the fair market rent for the subject, as of December 3, 2014, the date of inspection. The appraisers are aware that the intended use of this appraisal is to provide the client, XXX with a market rent estimate in conjunction with lease negotiations. The intended user is the client, XXX. IDENTIFICATION OF THE PROPERTY The space being analyzed is the total 933+ SF of medical office located in a larger unit of 4,300 SF on the sixth floor of a twenty-two story office building in Manhattan. The entire area of suite 601 is leased to XXXX, LLC, a New York limited liability company. The subject building is located at the southwest corner of XXXX Avenue and East 41nd Street in the Murray Hill section of the Borough of Manhattan, City and State of New York, and is commonly known as 630 Third Avenue. The building is currently known on New York County Tax Map as, Block XXXX, and Lot 40. SALES HISTORY As per public records, the current owner of the property (entire office building) is listed as XXX Av CP. There are no other known recorded sales transactions on the subject in the past five years. The subject is reportedly not listed for sale. The space is currently occupied. The appraisers are not aware of any offers or contracts on the property. SCOPE OF WORK The data contained in this report was obtained from public records and from knowledgeable leasing agents, real estate brokers and principals active in the area of the subject property. There was a physical inspection of the property, which included inspecting the interior of the subject space. The appraiser also reviewed a layout of the space and city records. The size of the subject is based on the measurements at taken at inspection and the provided the plans of suite # XXX. The size estimate assumed to be accurate. Common area considered is 30%, of common area of suite XXX, a typical for office. The report assumes the additional rent that equals 100% of real estate tax increase over a base at 2014/15, which typical for the local market. The tenant pays for all utilities. The subject is within a twenty two-story and a cellar elevator Class A office building. Value provided for the part of suite XXX: consult office, two exam rooms and 50% of front desk; and shared common areas: the waiting room, photography room, kitchen, hallways and lavatories. The client requested to provide the daily rental rate for the specified space. The appropriate methodology utilized is to establish the estimate of the market rent for the entire suite XXX; it is based on the current market conditions. The current market rent estimate will be prorated to the area considered with the common areas to the daily rate basis. The purpose of this report is to determine the fair market rent for the subject. Leases were verified through owners, other appraisers, tenants or other principals involved in the transactions. The appraiser surveyed the market in the subject and surrounding area since the beginning of 2013 as well as the current
active listings. Several leases and offering were analyzed and seven have been chosen. They are provided on the following pages. They are all located in office buildings or similar improvements. The leases used were all from primary tenants. Finished space, that is space that is already outfitted as medical offices quite often command higher rent than raw space for which the landlord is willing to offer a tenant work letter, and for which the primary tenant has to spend additional funds. Leases of office spaces or comparable spaces are rare in the area. As no similar types of property were uncovered in the subject s immediate area, the area was expanded to include other similar areas of New York. Several rentals were uncovered which were most comparable to the subject. Adjustments were made for salient differences between the comparables and the subject in order to arrive at an estimated market rent. Per scope of work the daily rent estimate provided. 7 Area Map REMOVED
8 THE VALUATION PROCESS This report constitutes a market rental analysis. As previously noted the highest and best use of the subject, as improved, is its current use as community facility/office space. The comparable rental approach is used to determine the fair market rent of the subject by analyzing comparable rentals to the subject and adjusting these rentals for salient differences between the subject and the comparable. Such differences typically include location, condition, amenities and appeal. Also, since we are involved with leases, terms and utilities included in the rent are also analyzed. The subject is being analyzed on a modified gross basis where the tenant would be responsible for 100% real estate taxes over the base in 2013/14, all utilities, interior cleaning and maintenance. The comparable leases are written on a modified gross or net basis; these differences will be reconciled during the adjustment process. Once the comparable rentals are appropriately adjusted for their differences, a fair market rent for the subject unit can be estimated. On the following pages are the comparable rentals utilized in determining the subject s fair market rent. The comparable analyses will be a summarized adjustment grid and an explanation of the adjustments. The rentals were verified through other appraisers, owners, tenants or leasing agents. As noted throughout, there are limited community facilities and offices in the area. Therefore, the market area and time frame of our search were expanded. To estimate the daily rent, we first establish the estimate of the market rent for the entire suite 601; it is based on the current market conditions. The current market rent estimate will be prorated to the area considered with the common areas to the daily rate basis.
9 ADJUSTMENTS TO COMPARABLE RENTALS 4,300 Rent Area Rent/ Market Adj. Unit Total Adjusted Rent Address Annual Rent Date Sq.Ft. Sq.Ft. Cond $/Sq.Ft. Loc. Cond Size Adj. $/Sq.Ft. 1 135 W 29th St $68,250 Feb-14 1,500 $46 0% $46 10% 10% -10% 10% $50 2 25 W 45th St $92,120 2 Q 14 1,960 $47 0% $47 5% 0% -10% -5% $45 3 144 E 44th St $85,320 2 Q 14 1,580 $54 0% $54 5% 0% -10% -5% $51 4 900 Third Ave $350,399 Jan-14 7,151 $49 0% $49 0% 0% 10% 10% $54 5 200 W 57th St $53,940 2 Q 14 930 $58 0% $58 0% 0% -15% -15% $49 6 600 Lexington Ave $711,759 Oct-13 12,487 $57 0% $57 0% 0% 15% 15% $66 7 419 Lexington Ave $73,736 Listing 1,418 $52-5% $49 0% 0% -10% -10% $44 HIGH: $58 HIGH: $66 LOW: $46 LOW: $44 MED.: $52 MED.: $50 AVG: $52 AVG: $51
10 ANALYSIS OF ADJUSTMENTS According to The Appraisal of Real Estate, Appraisal Institute, 12 th edition, page 501 "The elements of comparison for rental analysis are the real property rights being leased, conditions of rental, market conditions, location, physical characteristics, division of expenses stipulated in the lease and other lease terms, use of the property, and non-realty components." Following are the analysis of adjustments. The adjustments were based on market analysis and interviews of principals involved with the leasing of this type of space. All leases were considered to be at arms length. The leases occurred from October 2013 to second quarter of 2014, and supplemented by current active listings. They provide good indicators of the subject s current market rent. The best available rental comparables were used. The time and geographic range were expanded as there are very few properties similar to the subject within the subject neighborhood. General market conditions for office space have stabilized. All comparables are relatively recent and no significant differences existed between the comparables and the subject. Active listings were adjusted -5% for negotiations. Location: The subject has an overall good office location in Midtown Manhattan on busy XXX Avenue. Rentals 1, 2 and 3 are in inferior locations which was adjusted 5% to 10% upward for inferior locations. No location adjustments to the remaining rental comparables as they are in the similar locations of Midtown Manhattan. Condition: The subject unit is within a Class A office building. Rental 1 is within an older building and adjusted 10% upward for inferior condition and amenities. Unit Size: The subject unit #601 contains of a total 4,300+ SF. Comparable rentals were adjusted based on the economies of scale principle. Rentals 1, 2, 3, 5 and 7 are smaller; 4 and 6 are larger than the subject; are adjusted 10% to 15% for size. No other adjustments were considered necessary.
11 CONCLUSION/RECONCILIATION In accordance with our assignment, we have performed a rental analysis of the above referenced property for the purpose of estimating the fair market rent, as of December 3, 2014, the date of inspection. The estimate of rent was based on the highest and best use of the subject space, which is as medical office space. Value provided for the part of suite XXX, a finished medical office space: consult office, two exam rooms and 50% of front desk; shared common area: the waiting room, photography room, kitchen, hallways and lavatories. The subject rental space considered is a 675+ SF, with 30% share of the common area. The total area considered is 933+ SF. The appraiser utilized several comparable rents from within the subject area and the competing market areas to estimate a rent for the subject. The unadjusted rent for the comparables ranged from $46 to $58 per square foot per annum. After adjustments, the rents ranged from $44 to $66 per square foot per annum with an adjusted median of $50/SF and an average of $51/SF per annum. There is a wide range between rental comparables. It is due lack of available comparable rentals in the immediate vicinity of the subject. In forming a value conclusion, we have considered all rentals, as well as overall current market conditions and the subject s size, condition and appeal relative to the market. Based on all factors, a value reflective of the average and more weight to rental #4 (900 Third Avenue, on the subject s street) would be considered most appropriate given the condition, size and appeal of the subject unit. In consideration of all factors, we conclude a rent of $53/SF. Therefore: $53 per square foot per annum is for the entire suite XXX. The area considered: 675+SF with 30% share of the common area. The common area is estimated at 860+SF, 30% is 258+SF. The total area: is 933+ SF (675+ 258= 933+) 933+ SF x $53/SF = $49,449 Assumptions 52 weeks 5 Business days a week 52 x 5 = 260 days/annum Total Rent $49,449 / 260 = $190.19 Daily Rent Our conclusions amount to a total annual rent as follows: The Annual rent is $49,449 and the daily rent $190.12 An inspection of the site and neighborhood was conducted, and all available data affecting the subject's fair market rent was analyzed. As a result of these investigations and subject to the enclosed limiting
conditions, the "as is" Annual Fair Market Rent of the subject property, as of December 3, 2014, the date of inspection, is: FOURTY NINE THOUSAND FOUR HUNDERED FOURTY NINE DOLLARS ($49,449) ($53/SF) (190.12/day) Additional Rent: The above fair market rent was estimated based modified gross lease terms. The tenant to be responsible for increase in real estate taxes over the base in 2014/15 and, all utilities, as well as interior maintenance and cleaning. Responsibilities of Owner: The fair market rent assumes the owner to be responsible for structural repairs, maintenance and real estate taxes. Notes: In lease terms of five to ten years in the subject s market, it is typical for the rent to increase between 2% and 5% annually. No free rent concessions are being offered in the market and none is offered for the subject or the comparables. The report was prepared to meet the specific requirements of the client for the purposes stated herein. No reliance is to be placed upon it for any other purpose. It is intended for their sole use in conjunction with lease negotiations with the owner. 12
ADDENDA QUALIFICATIONS OF ALEXANDER M. YAMPOLSKY, CSA-G Mr. Yampolsky has been actively engaged in real estate valuations as a fee appraiser and consultant since 2002. He has valued a wide range of real property interest including 1-4 family residential, coops, and condominiums, as well as multifamily residential and mixed-use properties, small office properties, industrials, and retail uses. Most reports are done in narrative format, or using appraisal forms approved by Fannie Mae and provided by software suppliers. These appraisal reports are done for purposes of asset valuation, financial portfolio management, litigation support, and estate planning. He is an approved expert witness in the NYS Court system. Mr. Yampolsky has performed appraisals of properties throughout the New York Metropolitan area and Nassau County. A list of his clients include JP Morgan Chase, Wells Fargo, City Bank, numerous property management firms, attorneys, CPAs, estate and financial planners, as well as private individuals. He is an expert witness in Real Estate appraising and testifies in Court. Mr. Yampolsky currently operates an appraisal consulting business Laval Management, LLC. APPRAISAL EDUCATION Appraisal Courses: E&S, AQ-1, R-1, and R-2. General Appraiser Courses: G-1, G-2, G-3 Continued Education Courses: National USPAP Update Course; Appraising of Convenience Stores, NYS Building Codes & Detrimental Property Conditions, Evaluating Commercial Construction; Zoning for Real Estate Professionals, The Basics of Lease Analysis, Rent Regulations in NYS, FHA & VA Appraising, Mortgage Fraud, Appraisals for Divorce Actions, Appraising Distressed Commercial Real Estate, Litigation Skills for the Appraiser. Resolution of Real Estate Disputes: Negotiation, Mediation, Appraisal & Arbitration, Litigation Commercial Real Estate Reports; Commercial Leasing, Commercial Appraisal Review; Hotel Valuation A Case Study in Room Night Analysis; Complex Litigation Appraisal Case Studies, Rent Stabilization and Other Legal Influences Affect Value in Multi-Family Buildings, How NYC Landlord/Tenant Laws Affect Value, Commercial Leasing, part 1 and 2. SUPPLIMENTARY New York State Certified General Real Estate Appraiser # 46000046357 NY State Courts FID # 997375 Mr. Yampolsky is a Senior General Member of Columbia Society of Real Estate Appraisers (CSA-G)
PHOTOS 2 Subject building Street view Consult Office
3 Exam Room Exam Room
Common area: Waiting room with the front desk 4
Common area: Photography room 5 Common area: Kitchen
Common area: Lavatory 6 Common area: Storage closet
Floor Plan of the Area Considered 7