Proposal: The Friedland House, Gladwyne, PA

Friedland House

Richard Neutra, Architect, 1958 1020 North Lane, Gladwyne, PA SUMMER 2022

Ms. Susan Kravitz Mr. Bobby Kravitz Mr. Roger Friedland 1020 North Lane Gladwyne, PA 19035 Re: The Friedland House May 18, 2022 Dear Ms. Kravitz, Mr. Kravitz, and Mr. Friedland:

It is a pleasure to have been introduced to you by our colleagues at Christie’s, and for the opportunity to provide you with a proposal for the sale of the Friedland House. This remarkable residence, designed by Richard Neutra in 1958, is the perfect convergence of art, architecture, and luxury real estate; ideally suited for representation by Christie’s and Christie’s International Real Estate.

As the market leader in 20th- and 21st-century art and design sales, Christie’s is uniquely positioned to provide us with unrivaled knowledge of buyers for the Friedland House. In support of our approaching these individuals, we will prepare custom marketing materials to the highest standards in which to share with these clients, and that are coherent with the Neutra aesthetic.

Additionally, our synergy with Christie’s gives us the opportunity to showcase your property at Christie’s salerooms worldwide, where it will be visible to ultra-high-net-worth potential homebuyers. Entrusting your property with Christie’s International Real Estate also provides unrivaled access to important collectors of fine art and design through our relationship with Christie’s specialists across the globe.

The proposal you will find herein outlines our success as an international real estate network, recent architectural sales, and an overview of our marketing services.

It is our great pleasure to share this proposal with you and to be your partner in achieving the greatest success in marketing the house to our elite clients. We look forward to working together and we are always available to answer any questions you may have.

Kind regards, Chris Lim

Seth Watsky

President Head of Brand Growth

Vice President Christie’s Services

chrislim@christiesrealestate.com

swatsky@christiesrealestate.com

415.577.3770

212.417.0363

@properties | Christie’s International Real Estate The December 2021 acquisition of Christie’s International Real Estate by @properties bring cutting edge technology and award-winning marketing initiatives to the venerable global luxury real estate network. A top 5 independent brokerage firm in the United States, @properties is also one of the real estate industry’s most closely watched innovators, having developed a world class brokerage technology platform. In addition, its luxury sales and marketing programs have catapulted @properties to the top of the competitive Chicago residential market, where it has held the #1 market share for the past 13 years. @properties’ stewardship of the Christie’s International Real Estate brand promises to deliver numerous tangible benefits for member firms, their agents, and clients.

Already, in the first quarter of 2022, the Christie’s International Real Estate network has expanded to include the top independent luxury brokerage firms in Chicago, Northern California, and Atlanta. Enhanced marketing, media partnerships, and a re-energized relationship with Christie’s auction and private sale business will also create unique opportunities that will distinguish Christie’s International Real Estate as the world’s preeminent luxury real estate company.

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Christie’s is synonymous with the world’s most coveted art and luxury items, and Christie’s International Real Estate leverages its connection to the iconic auction house to benefit our clients in a number of ways.

ART & LUXURY

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Artfully Aligned Since 1766, Christie’s world-renowned auctions and private sales have captivated a global audience of luxury collectors and aficionados. Today, the venerable institution has a physical presence in 46 countries with flagship international sales hubs in New York, London, Hong Kong, Paris, and Geneva. In recent years, Christie’s has achieved the world record price for an artwork at auction, a single collection sale, a work by a living artist, and an NFT sale. Christie’s International Real Estate maintains a close partnership with Christie’s, creating unique marketing opportunities and synergies between the worlds of high-end real estate, art and luxury goods.

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Exclusive Properties: Christie’s International Real Estate Success • T hrough its network of leading real estate brokers and its New York City brokerage, Christie’s International Real Estate is the global authority in the marketing and selling of luxury residential properties.

• Network achieved approximately US$500 billion in sales over the last five years and more than 52 million website visits annually • Corporate offices in New York, London, Hong Kong, and Los Angeles

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Sales Highlights Villa Infinity Anse des Cayes, Saint Barthélemy, US$18,231,450 Sibarth Real Estate

SkyPine Estate (bottom right) Lake Coeur d’Alene, Idaho, US$27,500,000 Strand Hill Properties 1660 South Ocean Boulevard Manalapan, Florida, US$39,000,000 Premier Estates Properties (left page)

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New York: - Private real estate investor - Private art collector and investor - Fashion Designer, curating collections around homes

Toronto, Los Angeles: Collector of significant residential architecture in Canada and the United States, art and design collector

London, New York: - Private family, collecting - Important Homes and Contemporary Art

Chicago Important real estate collector and investor with important masterworks of art

Litchfield, Ct Architectural investments, restoring and selling important Modernist homes San Francisco Private collector, owner of several modern homes over the last 20 years

Cincinnati Oh, Los Angeles, Litchfield Ct Important Private collector of Italian Art and Modernist Homes

Los Angeles Private collector, owner of several vintage homes on the West Coast and advisor to Hollywood collectors Private investor, buying and selling important Modernist architecture Architectural firm, advising clients on the purchase and restoration of important architecture

Houston Private investment company, owns homes in Houston and Detroit using them as a backdrop to their gallery operations

istie's International Real Estate

Christie's Auction House

offices

10 salerooms

countries and territories

46 countries

• • as of March 1st, 2021

Christie's International Real Estate Across the Globe.

Christie's International Real Estate

Christie's Auction House

940 offices 48 countries and territories

10 salerooms 46 countries

• • • • 8

Christie’s Auction House Salerooms Christie's International Real Estate Office Locations Christie's International Real Estate Affiliate Locations Christie’s Auction House Collectors

Tokyo Important collector of Post-War Art, Modern Art and Modern Design

Curated Network of Real Estate Specialists Representing

˜10,000

Number of Luxury Properties Worldwide

˜US$500B

US$38B

Value of Luxury

Properties Worldwide

Properties by price (number of properties)

Real Estate Sales Over the Last Five Years

Properties by region (value of properties)

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International Real Estate Significant Sales Herrick House and Granary Gallery | Sharon, CT | US$10,500,000

The country home of celebrated art collector and philanthropist, Melva Bucksbaum, this 52-acre estate in bucolic Sharon, CT features a fully restored main house, custom built art gallery designed by architect Stephen Lerner, and 6 additional outbuildings. Highest priced sale achieved in Sharon, CT in 2020.

The IM Pei Townhouse | New York, NY | US$8,600,000

The New York townhouse of celebrated architect IM Pei. this 4-floor townhouse fully redesigned by Mr. Pei and with rare access to Sutton Square Gardens, sold over ask September 2021.

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Teiger House | Bernardsville, NJ | US$2,050,000

The modernistestate of the late collector David Teiger set on an 11.5-acre knoll with sweeping views of the New Jersey countryside.Designed by RoToarchitects the house is arranged with an intersecting geometric grid and is accented by locally sourced natural materials.

Shangri La on Narragansett Bay | Bristol, RI | US$4,950,000

A dramatic art collector’s bayfront compound featuring 4 modern residences designed by Snider Architects. Designed to take in spectacular sunset views, the compound includes an infinity pool, teahouse, and private beach all within the private enclave of Atlantic Highlands. Highest sale in Bristol, RI in 2021.

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Richard Neutra's Masterpiece of American Residential Architecture: The Friedland House, Gladwyne, PA, 1958

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The Friedland House Gladwyne, PA Commissioned in 1958 for Annette and Jack Friedland by celebrated architect Richard Neutra, the Friedland House is a mid-century marvel privately situated within a prestigious enclave of Gladwyne, PA, Positioned on six rolling acres, this magnificent example of modernist architecture provides an extraordinary opportunity to acquire a living work of art designed by one of the most sought-after architects in American history.

One of the fathers of the American Modernist movement, Neutrais is perhaps best known for his residential designs throughout Southern California. As a result of a visiting professorship, the architect designed six residences within the Philadelphia metro-region, making the Friedland House a rare Neutra masterwork on the East Coast.

Wonderfully maintained since its completion, the Friedland House exudes Neutra’s signature style of blending architecture into nature with its glass walls, courtyards and patios, reflecting pool, linear structure, stone and stucco façade, and cantilevered steel. Its interiors offer abundant light, and the original flowing floorplan provides well defined and intimate spaces to accommodate world class collections of art and design.

Offered for the first time since it was commissioned by Jack and Annette Friedland, this is a rare opportunity for a design enthusiast to be the next steward of such a remarkable property.

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Our Experienced Team

Chris Lim President, Head of Brand Growth @properties & Christie’s International Real Estate | Chicago, Illinois

Chris Lim is president, head of brand growth for @ properties, one of the nation’s top 10 residential brokerage firms. In his role, he leads the expansion of @properties’ franchise business as well as @properties-owned Christie’s International Real Estate.

As a real estate entrepreneur with over two decades of industry experience, prior to joining @ properties, Chris was the founder of Climb Real Estate, a leading San Francisco based residential brokerage that sold to Realogy Holdings in 2016.

Originally from northern New Jersey, Chris graduated with honors from the University of Richmond and held positions in advertising and finance before starting his real estate career.

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Seth Watsky Vice President, Christie’s Services Christie’s International Real Estate, New York, NY

Michael Jefferson International Senior Specialist, Senior Vice President Christie’s

Seth Watsky is Vice President of Christie’s Services

Michael Jefferson is an International Senior

for Christie’s International Real Estate. An 11-year

Specialist in the Design department in Chicago.

veteran of Christie’s, Seth began his career as a

Has contributed to the redevelopment of a new,

Senior Client Service Representative in the Client

global vision for Design at Christie’s, and is a close

Service Department from 2010–2014.

partner with the Post-War and Contemporary Art department. Michael has been instrumental in the

In September 2014, Seth joined Christie’s

increase in overall market share for the Department

International Real Estate as the Affiliate Services

which achieved a record total of $130 million in

and Marketing Coordinator for the Northeast

2021. Additionally, he has completed several million

Region. As of April 2018, he was appointed to

dollars in private sales of art and design since

Associate Vice President, Client Relationship

starting his tenure in 2019.

Manager. Most recently, he was promoted to his current role of Vice President, Christie’s Services,

Mr. Jefferson joined Christie’s after 18 years with

where he will manage the relationship between the

Wright Auction in Chicago, where he was Senior

auction house and real estate network.

Vice President and Senior Specialist of Design.

Jefferson was instrumental in a highly creative

Originally from Westchester County, NY, Seth

approach to selling Design at auction, developing

graduated from Pace University’s Manhattan

sales with a focus on Italian and Scandinavian

campus with a degree in Theatre Arts and is a

design, single owner collections, and thematic

licensed New York Real Estate Salesperson.

auctions that pushed the boundaries of the market.

Receiving a BFA from the University of Michigan in 1995, Jefferson has worked in various fields in the arts and takes a wholistic approach to the market, providing a synthesis between auctions, creative practice and collecting.

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Our Bespoke Marketing Program Reserved for exclusive homes in the top 10 percent of a market, properties enrolled in our Bespoke Marketing Program benefit from high-impact marketing opportunities that reach Christie’s clients and qualified potential buyers around the world. With marketing tailored to each property, our campaigns tell a unique story for each property in a way that is original, effective, and broadly appealing.

From personalized introductions to potential buyers from auction house specialists to prominent exposure on video screens at salerooms, these properties receive privileged attention and incomparable global exposure. Our ability to make personal introductions between clients of Christie’s and Christie’s International Real Estate creates a synergy between the worlds of art and real estate, and is the foundation of our world-class platform for the highly targeted marketing of noteworthy properties.

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Phase 1 Bespoke Marketing Plan Christie’s Client Direct Outreach In partnership with Christie’s, we will do a targeted and direct outreach to top collectors identified as potential buyers of the Friedland House. Using promotional materials specially designed by Christie’s International Real Estate for this client outreach, this will take place within the first month of listing The Friedland House.

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JUNE

NOVEMBER - DECEMBER

Photography Professional photography including drone technology taken of property to be used in marketing collateral and CIRE digital initiatives Videography Custom cinematic video tour of the property, featuring specialist Michael Jefferson, to be featured on the CIRE website & CIRE YouTube and Vimeo Channels.* Christie’s Auction House Exposure Property video clip on large screens at Christie’s Rockefeller Center, New York; Christie’s King Street, London; and Christie’s Alexandra House, Hong Kong.* Property Brochure displayed at New York, King Street London & Hong Kong Salerooms.** Full page property ads in Christie’s Sale Catalogues.*** Public Relations Press release to be completed at time of re-listing. Followed by ongoing public relations support throughout duration of listing with the assistance of PR partners in NYC and London following initial announcement. All press inquiries will be vetted by CIRE Director of Communications.

Digital**** Search engine optimized property web page on the CIRE website (christiesrealestate.com).

WebAd will include hi-res images, property description, features, video, and virtual tour, and contact information Boosted search results on Google and other search engines - S EO Optimized Property Webad with hi res images and property video - Video feature on CIRE Homepage Carousel - Luxury Defined Blog Features - Social Media Exposure and property tour featured on CIRE YouTube Account - Property listing syndicated to high profile international news publication websites Custom Brochure CIRE to create a 8-page brochure, highlighting Neutra architecture, provenance of estate and featuring hi-res images and property description.

Brochure will be distributed to Christie’s offices and salerooms worldwide, and to headquarter offices of exclusive CIRE affiliates internationally.

Christie’s Auction House Exposure Full length property video, with tour by Michael Jefferson, to be featured on the main video projectors at Christie’s Rockefeller.

Pull up banner of property displayed in the lobbies of Christie’s Rockefeller, King Street & Dubai salerooms.

Pull up banner of property displayed in the lobbies of Christie’s Rockefeller, King Street & Dubai salerooms.** Large window banner of property facing 49th Street.

Inclusion of property in the Christie’s International Real Estate top client newsletter; sent to 15,000 Christie’s clients *** Inclusion within Art & Walls: a newsletter sent to Christie’s top business getters worldwide *** Editorial feature on property published to the Christie’s Stories online magazine through the Christie’s site***

2022 JUNE

J U LY

AUGUST

SEPTEMBER

OCTOBER

NOV EM BER

DE C E M B E R

Q4

JUNE

JULY

AUGUST

FALL

International Syndication to Partner Websites**** Property promotion on premium partner websites sent from CIRE Website

Advertising Advertising campaign in high profile publications. While this campaign will be finalized after listing, magazines we are considering for this opportunity are the following:

Affiliate Network Outreach The Friedland House will be promoted to a selection of 250 top producing brokers in the Christie’s International Real Estate network through a series of newsletters encouraging them to consider buyers for the property.

Christie’s Global Event Exposure 2-page spread in custom Christie’s International Real Estate (CIRE) Luxury Living event booklets distributed to Christie’s clients at the upcoming auctions shown below:

- W all Street Journal: WSJ.com, Europe.wsj.com, Asia.wsj.com, - M ansion Global (English, Chinese, Spanish) - C ountryLife.co.uk - P ropgoluxury.com (U.S. and Asia) - N YTimes.com, Cn.nytimes.com (China) - F inancial Times - Z aobao (China)

- M odern Luxury Philadelphia Style, and New York - Architectural Digest - Luxe Magazine Programmatic Digital Banner Ad Campaign syndicated to the Google Display Network. Advertisements displayed on the New York Times, Financial Times & Wall Street Journal.* Monthly coop advertising featured in the Wall Street Journal, Financial Times & New York Times. 1 month with a large spotlight ad on the property in all publications.(Monthly starting July 2022) Full page property ad to be featured in the Financial Times. (TBD and as available)

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hristie’s Dubai Sales C Islamic Art London Sales Hong Kong Spring Sales Geneva Spring Sales C ontemporary Indian Art Sales Russian Art Summer Sales Concours d’Elegance Auto Week: Pebble Beach, California - M umbai Indian Art Sales Other event exposure with materials on property provided as available

Phase 2 Bespoke Marketing Plan Following our direct outreach to Christie’s clients, we will begin phase 2 and expose the property to our audience though our digital, print, and auction house initiatives. As this is a private listing, the marketing plan can be tailored to your specifications upon listing with Christie’s International Real Estate.

SPRING Christie’s Global Event Exposure 2-page spread in custom Christie’s International Real Estate (CIRE) Luxury Living event booklets distributed to Christie’s clients at the upcoming auctions shown below: - C hristie’s Dubai Sales - Islamic Art London Sales - Hong Kong Spring Sales

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Geneva Spring Sales Contemporary Indian Art Sales Russian Art Summer Sales Concours d’Elegance Auto Week: Pebble Beach, California - Mumbai Indian Art Sales Other event exposure with materials on property provided as available

2023 JA N UA RY

F EBRUA RY

Q1

J U LY

M A RCH

A PR IL

Q3

AUGUST

M AY

JUNE

Q2

SEPTEMBER

OCTOBER

Q4

NOV EM BER

DE C E M B E R

Magazine Standing recurring full-page ads in Christie’s International Real Estate Quarterly magazine Distributed throughout CIRE affiliate network, 45,000 subscribers, and to Christie’s Inc. global salerooms and offices.

Q4 Q1 Q2 Q3

October – Dec 2022 January – March 2023 April – June 2023 July – September 2023 * Ongoing throughout duration of listing term

6-page editorial feature on the property in the CIRE Quarterly Magazine:

** 2022 to coincide with Design sales *** As available **** June 2022 Ongoing

Q4 October – Dec 2022

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Christie’s Auction House Displays The Friedland House will be prominently displayed through banners, video montages and Luxury Living booklets at important auctions and salerooms worldwide.

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Print Collateral We will showcase The Friedland House within the following publications: Christie’s International Real Estate Magazine: A quarterly magazine sent to 45,000 subscribers. Luxury Edition: An annual publication dedicated to the most significant properties and sent to 6,000 top Christie’s clients.

Custom Dedicated Property Book: Designed by CIRE’s team of graphic designers, we will create a custom property book which will be distributed to top Christie’s clients identified as prospective buyers 8 page Property Brochure: To be displayed at Christie’s salerooms worldwide and distributed to CIRE affiliate offices internationally.

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Digital Promotion The Friedland House can be showcased on the following sites and platforms: christiesrealestate.com luxurydefined.com christies.com Luxury Living newsletters Facebook Twitter Instagram Pinterest LinkedIn

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Targeted Public Relations & Advertising Strategies Should a public relations campaign become a part of our strategy for the Friedland House, properties in our portfolio, especially those with great stories to tell such as this property, are routinely chosen for features in the world’s leading publications.

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Events In partnership with Christie’s, we can arrange special events or client previews at the property.

We also participate in luxury lifestyle events internationally.

Wherever we are present, can showcase The Friedland House in our collateral and video presentations.

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Richard Neutra Sales in Pennsylvania

The Hassrick House 3033 Cherry Lane, Philadelphia, PA 5 beds, 3 baths, 8,504 sq ft, 2.12 acres Pool, hot tub fully renovated.

Sold 2017 $1,990,000 Current apprx estimate $2,697,000

Pitcairn House, 2 860 Paper Mill Rd, Bryn Athyn, PA 6 beds, 5 & 1 ½ baths, 10 acres Sold $2 Million 12/4/17 Current apprx estimate $2.3 Million

Coveney House 301 Hughes Road, Norristown, PA 5 beds, 3 bath, 3217 sq ft, 2.09 acres Sold Aug 2013 $880K Current apprx estimate $1.217 Million

Miller House 109 S Whitehall Road, Jeffersonville, PA 4 beds, 2 baths, 1983 square feet Sold August 16, 2019 $630,000 Current apprx Estimate: $720,000

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East Coast Richard Neutra Sales

The Glen House 130 Brookhollow Lane, Stamford, CT 4 bed, 3.5 bath, 4,000 sq ft, 2.4 acres Listed $4.5 Million July 2020 Removed from market

The Corwin House 25 Huckleberry Lane, Weston, CT 5 beds, 2 baths, 3,095 sq ft, 2.3 acres Sold $1.45 Million August 2020

The Kraigher House 234 Litchfield Road, Morris, CT Sold $510,000 February 2022 *no data on sale

The Rice House 1000 Old Locke Lane, Richmond, VA 2 beds, 4 baths, 4,983 sq ft, 4 acres Sold $2 Million March 2016 *Private Sale

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Richard Neutra Properties in California

The Kaufmann Desert House 470 West Vista Chino Road, Palm Springs, CA 5 beds, 6 baths, 3,162 sq ft, 2.18 acres Last listed $25 Million, reduced to $16.95 Million Removed from market

The Dorothy Serulknik House 3947 Markridge Road, La Crescenta, CA 5 beds, 5 baths, 5.2 acres Currently Listed $9.799 Million February 2022

The Loring House 2456 Astral Drive, Los Angeles, CA 4 beds, 5 baths, .65 acres Sold $7.5 Million April 2022

The Millard Kaufman House 3574 Multiview Drive, Los Angeles, CA. 4 beds, 3 baths, 2,503 sq ft, .29 acres Sold $2.87 Million August 2020

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Recent Modernist Property Sales: Connecticut & New York

The Breuer House: Marcel Breuer 628 West Road, New Canaan, CT 4 bed, 6 baths, 4,777 sq ft, 3.11 acres Sold $3.2 Million 2018

The Brown House: Elliott Noyes 81 Cross Ridge Road, New Canaan, CT 6 bed, 9 baths, 8,269 sq ft, 2.81 acres Sold $4,995 Million 2020

The Gagarin House: Marcel Breuer 144 Gallows Lane, Litchfield, CT 3 beds, 4 baths, 4,520 sq ft, 1.7 acres Listed $3.8 Million since 2020

Usonian House: David Henken | Frank Lloyd Wright 10 Usonia Road, Pleasantville, NY 3 beds, 2 baths, 1,904 sq ft, 1.26 acres Sold $1.395 Million 2021

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Recent Property Sales in Gladwyne, PA $1 Million and above

1563 Lafayette Road 4 beds, 5 baths, 7,359 sq ft, 6 acres Listed $2.43 Million

1015 North Lane 5 beds, 6 baths, 7,077 sq ft, .79 acres Listed $2.389 Million

1336 Colton Road 5 beds, 8 baths, 10,524 sq ft, 2.65 acres Sold $2.85 Million

1423 Spring Mill Road 6 beds, 6 baths, 6500 sq ft, .83 acres Sold $2.825 Million

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Conclusion We trust this proposal expresses our commitment to the private sale of The Friedland House. Our entire team would like to assure you that we will apply our superlative standards toward achieving the highest results on your behalf and making this sale process as seamless as possible.

Any successful real estate sale involves an ongoing and open dialogue, and we look forward to further discussing pricing and our ideas with you.

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London 8 King Street, St. James’s London, SW1Y6QT, UK +44 20 3824 1951

New York 20 Rockefeller Plaza New York, NY, 10020, USA +1 877 745 5574

Chicago 806 N. Peoria St. Suite 100 Chicago, IL, 60642, USA +1 312 254 0200

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