Page 1

PRESENTED TO

Ken Rosenblum, Lawrence Rosenblum and Jack Blachman


TABLE OF CONTENTS FINANCIAL SUMMARY ASSET SUMMARY MARKETING PLAN MARKET OVERVIEW OUR TEAM

ADVISORY TEAM Peter Von Der Ahe 260 Madison Avenue, 5th Floor, New York, NY Tel: (212) 430-5114 - Fax: (646) 349-3308 pvonderahe@mmreis.com Shaun Riney One MetroTech Center, Suite 2001, Brooklyn, NY 11201 Tel: (718) 475-4369 - Cell: (212) 920-6651 sriney@ipausa.com Dan Greenblatt One MetroTech Center, Suite 2001, Brooklyn, NY 11201 Tel: (718) 475-4357 - Cell: (917) 921-0121 daniel.greenblatt@mmreis.com Zalman Yarmush One MetroTech Center, Suite 2001, Brooklyn, NY 11201 Tel: (718) 475-4377 - Cell: (347) 534-7267 shneur.yarmush@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


232,596 SQUARE FEET 257 TOTAL UNITS In the Crown Heights neighborhood of Brooklyn


WHY NYM? Our specialized focus in NYC mid-market multifamily real estate, backed by the power and resources of Marcus & Millichap uniquely positions us to create optimal opportunities for both private capital and institutional investments.

NICHE EXPERTISE

MIDDLE MARKET

We specialize only in multifamily properties, only in New York City, customizing our strategy around you.

Backed by the nation’s largest private client brokerage, we bridge the gap between private and institutional capital.

CREATING OPPORTUNITIES

BROKERAGE AS A VERB

We are positioned to source exclusive opportunities for our clients–sellers frequently become buyers with NYM.

We don’t simply market properties–we aggressively sell them in pursuit of the best outcomes for clients.


NYM PERFORMANCE Our specialized expertise, network, and team of superstars make for sales that are impressive, and always increasing. Our 24-month track record speaks for itself.

68 MANHATTAN SALES

115

183

BOROUGH SALES

TOTAL SALES


FINANCIAL SUMMARY


FINANCIAL SUMMARY

PORTFOLIO ANALYSIS INCOME Gross Potential Residential Rent

$92,000,000 OFFERING PRICE PRICE PER SQUARE FOOT

$396

PRICE PER UNIT TOTAL SQUARE FEET TOTAL UNITS CURRENT CAP RATE

$357,977 232,596 257 3.5%

CURRENT GRM

19.6

PRO FORMA CAP RATE

3.6%

PRO FORMA GRM

19.3

PRO FORMA CASH ON CASH RET

PROPOSED DEBT Loan Amount Interest Rate Amortization Annual Debt Service Debt Coverage Ratio Net Cash Flow After Debt Service

232,596

0.94%

$50,000,000 3.95% 30 ($2,873,977) 1.12 $395,988

$396

CURRENT $4,692,312

PRO FORMA $4,777,602

Gross Potential Commercial Rent

$0

$0

Gross Income

$4,692,312

$4,777,602

Vacancy/Collection Loss

($97,499)

($95,552)

Effective Gross Income Average Residential Rent/Month/Unit

$4,594,813 $1,522

$4,682,050 $1,549

EXPENSES Property Taxes

0 $338,560

$359,748

Fuel

$169,513

$169,513

Insurance

$164,500

$164,500

Water and Sewer

$246,470

$246,470

Repairs and Maintenance

$96,375

$96,375

Common Electric (PPSF)

$46,500

$46,500

On Site Payroll

$141,698

$141,698

Management Fee

$183,793

$187,282

Total Expenses Net Operating Income

$1,387,408 $3,207,405

$1,412,086 $3,269,965

SCHEDULE OF INCOME UNIT BREAKDOWN TOTAL Studio 1 1 Bedroom 85 2 Bedroom 116 3 Bedroom 49 4 Bedroom 6

% OF TOTAL 0% 33% 45% 19% 2%

RENT $1,750 $1,439 $1,506 $1,618 $2,164

19.61

3.5%

SQUARE FEET

GROSS TOTAL SF

$/SF

GRM

This information has been secured from sources we believe to be reliable, but we make no representationsor warranties, expressed or implied, as to the accuracy of the information. References to squarefootageor ageare approximate. Buyer must verify the information and bears allrisk for any inaccuracies. InstitutionalProperty Advisors, IPA,andMarcus&MillichapareservicemarksofMarcus&MillichapRealEstateInvestmentServices,Inc.©2018 Marcus&Millichap.Allrightsreserved.

CAP RATE

Stuyvesant Heights Portfolio


520 CROWN STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT LEASE STATUS UNIT# A1 RS A2 RS A3 RC A4 RS A5 FM A6 RS A7 RS A8 FM A9 RS A10 FM A11 RS A12 FM A13 FM A14 RS A15 RS A16 RS A17 FM FM A18 B1 FM B2 RS B3 FM B4 RS B5 RS B6 RS B7 RS B8 RS B9 RS B10 FM B11 RS B12 FM B12_5 RS B14 RS B15 RS B16 RS RS BSMT MONTHLY RESIDENTIAL REVENUE ANNUAL RESIDENTIAL REVENUE

NOTES Pref Pref Pref Pref Pref Pref Pref Pref Pref Pref Pref Pref Pref Pref Pref Pref Pref

Pref Pref Pref Pref

Pref

BEDROOMS 3 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 3 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 3 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 3 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 60

ROOMS 5 4 4 4 4 3 4 3 4 4 3 4 3 4 4 3 5 3 4 4 4 3 5 3 4 4 5 3 4 4 4 4 4 4 3 134

EXPIRATION Nov-19 Jul-18 Nov-18 Aug-18 Apr-17 Mar-18 Aug-19 Aug-19 Jun-18 May-19 May-18 Aug-18 Mar-18 Aug-18 Apr-18 Aug-18 Feb-18 Aug-18 May-18 Dec-18 Jun-18 May-18 Dec-17 May-18 Feb-19 Jul-18 Apr-18 Feb-18 May-18 May-18 Dec-18 Jul-18 Mar-19 Sep-18 May-19

TOTAL ANNUAL REVENUE There are currently 0 vacant units in the building. The super lives off site.

ACTUAL PRO FORMA LEGAL $928 $928 $928 $2,300 $2,300 $3,545 $1,399 $1,399 $1,378 $1,122 $1,136 $1,101 $2,200 $2,288 $3,500 $1,343 $1,343 $1,343 $1,086 $1,086 $1,086 $1,850 $1,924 $3,244 $1,128 $1,142 $1,128 $2,300 $2,392 $3,500 $1,708 $1,729 $1,687 $2,250 $2,340 $3,500 $1,800 $1,872 $4,410 $2,400 $2,430 $4,449 $1,326 $1,326 $1,326 $1,875 $1,898 $3,651 $2,600 $2,704 $3,500 $1,800 $1,872 $4,201 $2,200 $2,288 $2,868 $547 $554 $547 $2,200 $2,288 $3,500 $2,350 $2,379 $4,641 $601 $601 $601 $1,800 $1,823 $4,049 $1,216 $1,231 $1,195 $1,350 $1,367 $1,350 $1,122 $1,122 $1,101 $1,700 $1,768 $3,500 $2,350 $2,379 $3,356 $2,200 $2,288 $3,500 $744 $753 $744 $2,400 $2,430 $3,919 $963 $975 $942 $1,053 $1,066 $1,053 $1,450 $1,450 $2,794 $57,659 $58,870 $91,923 $691,906 $706,445 $1,103,072 ACTUAL PRO FORMA $691,906 $706,445

CASH FLOW ANALYSIS GROSS POTENTIAL INCOME Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Tax Class: 2 Fuel - Gas Insurance Water and Sewer Repairs and Maintenance Utilities Super Salary Management Fee Total Expenses Net Operating Income

ACTUAL %EGI $691,906 100% $0 0% $691,906 ($13,838) 2% $0 $678,068 $1,647

$92,096 $20,000 $21,000 $27,000 $13,125 $5,300 $16,000 $27,123

14% 3% 3% 4% 2% 0.8% 2% 4%

$221,644 $456,424

33%

$/UNIT $19,769 $0 $19,769 ($395) $0 $19,373

$2,631 $571 $600 $771 $375 $0.16 $457 $775 $6,333

PRO FORMA $706,445 $0 $706,445 ($14,129) $0 $692,316 $1,682

%EGI 100% 0% 2%

$113,284 $20,000 $21,000 $27,000 $13,125 $5,300 $16,000 $27,693

16% 3% 3% 4% 2% 0.8% 2% 4%

$243,402 $448,914

35%

$/UNIT $20,184 $0 $20,184 ($404) $0 $19,780

$3,237 $571 $600 $771 $375 $0.16 $457 $791 $6,954


1154 PRESIDENT STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT LEASE STATUS UNIT#

NOTES

1A RS 1B RS 1C RS 1D RS 1E RS 1F RS 1G RS 2A RS 2B RS 2C RS 2D RS 2E RS 2F RS 2G RS 3A RS 3B RS 3C RS 3D RS 3E RS 3F RS 3G RS 4A RS 4B RS 4C RS 4D RS 4E RS 4F RS 4G RS MONTHLY RESIDENTIAL REVENUE

SCRIE SCRIE PREF SCRIE PREF SCRIE SCRIE

SCRIE PREF

PREF

BEDROOMS

ROOMS

EXPIRATION

ACTUAL

PRO FORMA

LEGAL

3 bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom Studio 3 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 51

5 3 4 4 3 4 2 5 3 4 4 4 3 4 5 3 4 4 4 3 4 5 3 4 4 4 3 4 106

Jun-19 Jun-18 Jun-19 May-18 May-18 Jul-19 Jul-18 Feb-19 Jun-19 Jul-18 Jun-19 Aug-19 Jun-19 Jul-19 Jun-19 Jul-18 Jun-19 May-18 Jul-18 Jun-18 Jun-19 Jul-18 Apr-19 Aug-18 Jun-19 Jun-19 Jun-19 Jun-19

$1,056 $583 $1,078 $2,500 $1,246 $1,238 $1,750 $723 $615 $669 $1,205 $1,488 $830 $1,758 $1,247 $1,349 $1,238 $2,700 $1,835 $918 $1,175 $3,300 $783 $1,213 $1,507 $1,050 $885 $715 $36,654

$1,056 $590 $1,078 $2,531 $1,261 $1,238 $1,772 $732 $615 $677 $1,205 $1,488 $830 $1,758 $1,247 $1,366 $1,238 $2,734 $1,858 $930 $1,175 $3,341 $793 $1,229 $1,507 $1,050 $885 $715 $36,898

$1,056 $583 $1,047 $4,002 $1,241 $1,238 $2,647 $723 $610 $669 $1,205 $1,483 $830 $1,753 $1,232 $1,339 $1,238 $3,695 $1,835 $918 $1,160 $3,699 $783 $1,213 $1,507 $1,040 $880 $715 $40,341

$439,843

$442,779

$484,095

ACTUAL $439,843

PRO FORMA $442,779

ANNUAL RESIDENTIAL REVENUE

TOTAL ANNUAL REVENUE There are currently 0 vacant units in the building. The super lives off site.

CASH FLOW ANALYSIS GROSS POTENTIAL INCOME

ACTUAL %EGI $439,843 100% $0 0% $439,843 ($8,797) 2% $0 $431,047 $1,309

Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Fuel Insurance Water and Sewer Repairs and Maintenance Common Electric (PPSF) Super Salary Management Fee Total Expenses Net Operating Income

Tax Class: 2 Actual Actual Actual Actual Actual Actual Actual

J-51

$36,814 $16,000 $17,000 $24,470 $10,500 $3,800 $9,600 $13,320

9% 4% 4% 6% 2% 0.9% 2% 4%

$131,504 $299,543

31%

$/UNIT $15,709 $0 $15,709 ($314) $0 $15,395

$1,315 $571 $607 $874 $375 $0.16 $343 $476 $4,697

PRO FORMA $442,779 $0 $442,779 ($8,856) $0 $433,923 $1,318

%EGI 100% 0% 2%

$36,814 $16,000 $17,000 $24,470 $10,500 $3,800 $9,600 $17,357

8% 4% 4% 6% 2% 0.9% 2% 4%

$135,541 $298,382

31%

$/UNIT $15,814 $0 $15,814 ($316) $0 $15,497

$1,315 $571 $607 $874 $375 $0.16 $343 $620 $4,841


1552-1556 PRESIDENT STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT UNIT# LEASE STATUS

NOTES

1A RS 2A RS 3A RS 4A RS 5A RS 6A RS 1B RS 2B RS 3B RS 4B RS 5B RS 6B RS RS 1C 2C RS 3C RS 4C RS 5C RS RS 6C 1D RS 2D RS 3D RS 4D RS 5D RS 6D RS MONTHLY RESIDENTIAL REVENUE

PREF PREF PREF

Vacant

PREF

PREF PREF PREF PREF PREF PREF PREF

BEDROOMS

ROOMS

EXPIRATION

ACTUAL

PRO FORMA

LEGAL

2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 3 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 3 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 3 Bedroom 43

4 4 3 3 4 4 3 3 4 4 4 5 3 3 4 4 4 5 3 3 4 4 4 5 91

Oct-18 Jul-19 Jun-18 Jul-18 Apr-18 Aug-18 Jun-19

$1,549 $1,415 $1,825 $1,950 $2,350 $1,586 $1,204 $1,283 $971 $1,083 $1,208 $1,485 $1,850 $1,374 $2,400 $2,400 $1,591 $2,650 $1,850 $1,900 $2,500 $2,250 $2,400 $1,631 $42,705

$1,568 $1,415 $1,848 $1,974 $2,350 $1,606 $1,204 $1,900 $984 $1,096 $1,208 $1,485 $1,873 $1,392 $2,430 $2,430 $1,611 $2,683 $1,873 $1,924 $2,531 $2,278 $2,430 $1,652 $43,744

$1,544 $1,415 $3,307 $4,135 $4,249 $1,586 $1,199 $1,278 $971 $1,057 $1,208 $1,485 $2,904 $1,374 $2,400 $3,519 $1,586 $3,437 $3,383 $3,537 $4,450 $3,589 $3,684 $1,611 $58,906

$512,462

$524,934

$706,870

ACTUAL $512,462

PRO FORMA $524,934

Nov-18 Sep-18 Aug-19 Jan-18 Jun-18 Jun-18 Jul-18 Jul-18 Jul-18 Jul-18 Jun-18 May-18 Aug-18 May-18 May-18 Oct-18

ANNUAL RESIDENTIAL REVENUE

TOTAL ANNUAL REVENUE There is currently 1 vacant unit in the building. The super lives off site.

CASH FLOW ANALYSIS GROSS POTENTIAL INCOME Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Fuel - Gas Insurance Water and Sewer Repairs and Maintenance Utilities Super Salary Management Fee

Tax Class: 2 J-51 Actual Actual Actual Actual Actual Actual Actual

Total Expenses Net Operating Income *J51 Exemption & Abatement

ACTUAL $512,462 $0 $512,462 ($10,249) $0 $502,213 $1,779

%EGI 100% 0% 2%

$0 $15,000 $13,000 $24,000 $9,000 $5,100 $11,366 $15,380

0% 3% 3% 5% 2% 1.0% 2% 4%

$92,846 $409,367

18%

$/UNIT $21,353 $0 $21,353 ($427) $0 $20,926

$0 $625 $542 $1,000 $375 $0.27 $474 $641 $3,869

PRO FORMA $524,934 $0 $524,934 ($10,499) $0 $514,435 $1,823

%EGI 100% 0% 2%

$0 $15,000 $13,000 $24,000 $9,000 $5,100 $11,366 $20,577

0% 3% 3% 5% 2% 1.0% 2% 4%

$98,043 $416,392

19%

$/UNIT $21,872 $0 $21,872 ($437) $0 $21,435

$0 $625 $542 $1,000 $375 $0.27 $474 $857 $4,085


1575 PRESIDENT STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT LEASE STATUS UNIT#

NOTES

1 RS 2 RS 3 RS 4 RS 5 RS 6 RS 7 RS 8 RS 9 RC 10 RS 11 RS 12 RS 14 RS RS 15 16 RS 17 RS 18 RS 19 RS 20 RS 21 RS MONTHLY RESIDENTIAL REVENUE

PREF PREF Vacant

SCRIE PREF SCRIE PREF PREF Court/Non Primary PREF PREF

BEDROOMS

ROOMS

EXPIRATION

ACTUAL

PRO FORMA

LEGAL

2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 3 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 3 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 3 Bedroom 3 Bedroom 42

4 4 3 4 4 4 4 3 5 5 4 4 3 5 5 4 4 3 5 5 82

May-18 May-18 Aug-18

$2,375 $1,784 $1,850 $1,400 $1,677 $1,276 $1,107 $924 $116 $2,700 $1,355 $1,560 $1,800 $1,332 $1,182 $2,300 $1,533 $1,850 $1,395 $923 $30,439

$2,405 $1,806 $1,873 $1,400 $1,698 $1,276 $1,107 $935 $116 $2,734 $1,372 $1,579 $1,823 $1,349 $1,182 $2,329 $1,533 $1,873 $1,413 $923 $30,725

$4,197 $1,784 $3,466 $1,677 $1,271 $1,107 $924 $116 $4,666 $1,334 $1,937 $3,457 $1,307 $1,161 $4,146 $1,533 $3,916 $1,395 $923 $40,316

$365,266

$368,701

$483,794

ACTUAL $365,266

PRO FORMA $368,701

May-18 Oct-19 Nov-19 Jan-19 May-18 Jun-18 Feb-19 Jun-18 Oct-18 Jul-18 Mar-18 May-18 Jul-18 Jan-18

ANNUAL RESIDENTIAL REVENUE

TOTAL ANNUAL REVENUE There is currently 1 vacant unit in the building. The super lives off site.

CASH FLOW ANALYSIS ACTUAL

GROSS POTENTIAL INCOME Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Fuel Insurance Water and Sewer Repairs and Maintenance Common Electric (PPSF) Super Salary Management Fee Total Expenses Net Operating Income J51 Exemption (year 1 of 34)

Tax Class: 2 J-51 Actual Actual Actual Actual Actual Actual Actual

%EGI $365,266 100% $0 0% $365,266 ($10,958) 3% $0 $354,308 $1,522

$35,673 $11,627 $13,000 $20,000 $7,500 $5,100 $11,366 $11,290

10% 3% 4% 6% 2% 1.4% 3% 4%

$115,556 $238,752

33%

$/UNIT $18,263 $0 $18,263 ($548) $0 $17,715

$1,784 $581 $650 $1,000 $375 $0.27 $568 $565 $5,778

PRO FORMA $368,701 $0 $368,701 ($11,061) $0 $357,640 $1,536

%EGI 100% 0% 3%

$35,673 $11,627 $13,000 $20,000 $7,500 $5,100 $11,366 $14,306

10% 3% 4% 6% 2% 1.4% 3% 4%

$118,572 $239,068

33%

$/UNIT $18,435 $0 $18,435 ($553) $0 $17,882

$1,784 $581 $650 $1,000 $375 $0.27 $568 $715 $5,929


1580 PRESIDENT STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT LEASE STATUS UNIT#

NOTES

1 RS 2 RS 3 RS 4 RS 5 RS 6 RS 7 RS 8 RS 9 RS 10 RS 11 RS 12 RS 14 RS 15 16 RS 17 RS 18 RS 19 RS 20 21 RS 22 RS 23 RS 24 RS 25 RS MONTHLY RESIDENTIAL REVENUE

PREF PREF PREF PREF PREF PREF PREF PREF PREF PREF PREF PREF PREF PREF

PREF

BEDROOMS

ROOMS

EXPIRATION

ACTUAL

PRO FORMA

LEGAL

3 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 4 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 4 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 4 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 51

5 5 4 4 3 3 6 5 4 4 3 3 6 5 4 4 3 3 6 5 4 4 3 3 99

May-19 Jun-19 Aug-18 Jun-18 Jul-18 May-18 May-18 Aug-18 May-18 Jul-18 May-18 Jan-18 Jul-18 Aug-18 Feb-18 Jun-18 Sep-18 Aug-18 Aug-18 Jul-18 May-18 May-19 May-18 Aug-18

$901 $922 $2,285 $2,300 $1,975 $816 $3,400 $2,600 $843 $2,300 $1,900 $1,030 $3,249 $2,700 $1,325 $2,250 $719 $1,885 $3,400 $2,550 $2,300 $839 $873 $1,850 $45,214

$901 $922 $2,314 $2,329 $2,000 $826 $3,443 $2,633 $854 $2,329 $1,924 $1,030 $3,290 $2,700 $1,325 $2,278 $728 $1,909 $3,400 $2,582 $2,329 $839 $884 $1,873 $45,640

$901 $897 $2,917 $4,779 $4,366 $790 $3,493 $2,840 $843 $4,146 $2,725 $1,030 $4,120 $4,352 $1,304 $4,306 $719 $3,676 $3,931 $3,292 $3,748 $813 $847 $3,420 $64,257

$542,564 ACTUAL $542,564

$547,678 PRO FORMA $547,678

$771,088

ANNUAL RESIDENTIAL REVENUE TOTAL ANNUAL REVENUE There are currently 0 vacant units in the building. The super lives off site.

CASH FLOW ANALYSIS GROSS POTENTIAL INCOME Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Fuel Insurance Water and Sewer Repairs and Maintenance Common Electric (PPSF) Super Salary Management Fee Total Expenses Net Operating Income *J51 Exemption/Abatement

Tax Class: 2 J-51 Actual Actual Actual Actual Actual Actual Actual

ACTUAL %EGI $542,564 100% $0 0% $542,564 ($10,851) 2% $0 $531,713 $2,055

$2,960 $27,000 $18,000 $25,000 $9,000 $3,100 $17,000 $16,291

1% 5% 3% 5% 2% 0.6% 3% 4%

$118,351 $413,362

22%

$/UNIT $24,662 $0 $24,662 ($493) $0 $24,169

$135 $1,227 $818 $1,136 $409 $0.14 $773 $740 $5,380

PRO FORMA $547,678 $0 $547,678 ($10,954) $0 $536,725 $2,075

%EGI 100% 0% 2%

$2,960 $27,000 $18,000 $25,000 $9,000 $3,100 $17,000 $21,469

1% 5% 3% 5% 2% 0.6% 3% 4%

$123,529 $413,196

23%

$/UNIT $24,894 $0 $24,894 ($498) $0 $24,397

$135 $1,227 $818 $1,136 $409 $0.14 $773 $976 $5,615


1581 PRESIDENT STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT LEASE STATUS NOTES UNIT#

BEDROOMS ROOMS

1 RS 2 RS PREF 3 RS 4 RS 5 RS 6 RC 7 RS 8 RS 9 RS PREF 10 RS 11 RS 12 RS 14 RS PREF 15 RS PREF/SCRIE/Holdover-Non-Primary 16 RS 17 RS SCRIE 18 RS 19 RS 20 RS 21 RS PREF MONTHLY RESIDENTIAL REVENUE

2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 3 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 3 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 3 Bedroom 3 Bedroom 43

EXPIRATION ACTUAL PRO FORMA

4 4 4 4 4 4 4 3 5 5 4 4 3 5 5 4 4 3 5 5 83

ANNUAL RESIDENTIAL REVENUE

May-20 May-18 Dec-18 Mar-19 Oct-19 Oct-18 Oct-19 Feb-19 Jan-18 Aug-18 Nov-18 Aug-18 Oct-18 Sep-19 Oct-18 May-19 Nov-19 May-19

$973 $2,400 $1,071 $1,492 $1,501 $84 $1,506 $1,156 $2,650 $1,213 $1,600 $576 $1,875 $2,029 $1,299 $845 $1,246 $1,076 $540 $2,675 $27,807

$973 $2,430 $1,084 $1,511 $1,501 $84 $1,525 $1,156 $2,683 $1,213 $1,620 $584 $1,898 $2,029 $1,316 $845 $1,261 $1,076 $540 $2,675 $28,004

LEGAL $973 $3,523 $1,071 $1,472 $1,501 $84 $1,506 $1,151 $4,564 $1,213 $1,600 $576 $3,245 $2,125 $1,289 $824 $1,246 $1,076 $540 $3,829 $33,407

$333,690 $336,047 $400,887 ACTUAL PRO FORMA $333,690 $336,047

TOTAL ANNUAL REVENUE There are currently 0 vacant units in the building. The super lives off site.

CASH FLOW ANALYSIS GROSS POTENTIAL INCOME Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Fuel Insurance Water and Sewer Repairs and Maintenance Common Electric (PPSF) Super Salary Management Fee Total Expenses Net Operating Income *J51 Tax Abatement

Tax Class: 2 J-51 Actual Actual Actual Actual Actual Actual Actual

ACTUAL $333,690 $0 $333,690 ($6,674) $0 $327,016 $1,390

%EGI 100% 0% 2%

$42,323 $13,500 $13,000 $20,000 $7,500 $5,100 $11,366 $10,440

13% 4% 4% 6% 2% 1.6% 3% 4%

$123,229 $203,787

38%

$/UNIT $16,684 $0 $16,684 ($334) $0 $16,351

$2,116 $675 $650 $1,000 $375 $0.27 $568 $522 $6,161

PRO FORMA $336,047 $0 $336,047 ($6,721) $0 $329,326 $1,400

%EGI 100% 0% 2%

$42,323 $13,500 $13,000 $20,000 $7,500 $5,100 $11,366 $13,173

13% 4% 4% 6% 2% 1.5% 3% 4%

$125,962 $203,364

38%

$/UNIT $16,802 $0 $16,802 ($336) $0 $16,466

$2,116 $675 $650 $1,000 $375 $0.27 $568 $659 $6,298


1588 PRESIDENT STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT LEASE STATUS UNIT#

NOTES

1 RS 2 RS 3 RS 4 RS 5 RS 6 RS 7 RS 8 RS 9 RS 10 RS 11 RS 12 RS 14 RS 15 RS 16 RS 17 RS 18 RS 19 RS 20 RS 21 RS 22 RS 23 RS 24 RS 25 RS MONTHLY RESIDENTIAL REVENUE

BEDROOMS

ROOMS

EXPIRATION

ACTUAL

PRO FORMA

LEGAL

3 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 3 Bedroom 4 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 3 Bedroom 4 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 3 Bedroom 4 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 51

5 5 4 4 3 3 5 6 4 4 3 3 5 6 4 4 3 3 5 6 4 4 3 3 99

Dec-17 Aug-17 Sep-17 Jun-17 Aug-17 Sep-17 Jul-16 Jul-16 May-17 Feb-17 Jun-17 Jun-17 Jun-17 Jun-16 Jun-17 Oct-16 Jun-17 Jun-17 Jun-17 May-16 Jul-17 Aug-17 Aug-17 Aug-17

$2,500 $2,500 $909 $879 $1,850 $1,925 $1,072 $988 $1,025 $879 $712 $1,198 $1,153 $897 $874 $1,261 $832 $1,775 $1,027 $1,051 $778 $1,092 $1,800 $1,875 $30,852

$2,500 $2,500 $909 $879 $1,850 $1,925 $1,072 $988 $1,025 $879 $712 $1,198 $1,153 $897 $874 $1,261 $832 $1,775 $1,027 $1,051 $778 $1,092 $1,800 $1,875 $30,852

$4,927 $4,874 $904 $879 $2,686 $3,024 $1,046 $983 $994 $858 $712 $1,198 $1,122 $871 $848 $1,261 $832 $3,537 $986 $1,025 $778 $1,082 $3,374 $3,729 $42,534

$370,228 ACTUAL $370,228

$370,228 PRO FORMA $370,228

$510,404

PREF PREF

PREF PREF SCRIE

PREF

PREF PREF

ANNUAL RESIDENTIAL REVENUE TOTAL ANNUAL REVENUE There are currently 0 vacant units in the building. The super lives off site.

CASH FLOW ANALYSIS GROSS POTENTIAL INCOME Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Fuel Insurance Water and Sewer Repairs and Maintenance Common Electric (PPSF) Super Salary Management Fee Total Expenses Net Operating Income

Tax Class: 2 J-51 Estimated Actual Actual Actual Actual Actual Estimated

ACTUAL %EGI $370,228 100% $0 0% $370,228 ($7,405) 2% $0 $362,823 $1,286

$7,831 $17,386 $18,000 $25,000 $9,000 $3,100 $17,000 $14,513

2% 5% 5% 7% 2% 0.9% 5% 4%

$111,830 $250,994

31%

$/UNIT $15,426 $0 $15,426 ($309) $0 $15,118

$326 $724 $750 $1,042 $375 $0.14 $708 $605 $4,660

PRO FORMA $370,228 $0 $370,228 ($7,405) $0 $362,823 $1,286

%EGI 100% 0% 2%

$7,831 $17,386 $18,000 $25,000 $9,000 $3,100 $17,000 $14,513

2% 5% 5% 7% 2% 0.9% 5% 4%

$111,830 $250,994

31%

$/UNIT $15,426 $0 $15,426 ($309) $0 $15,118

$326 $724 $750 $1,042 $375 $0.14 $708 $605 $4,660


1437-1443 CARROLL STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT UNIT# LEASE STATUS 1A RS 1B RS 1C RS 1D RS 1E RS 1F RS 2A RS 2B RS 2C RS 2D RS 2E RS 2F RS 2G RS 3A RS 3B RS 3C RS RS 3D 3E RS 3F RS 3G RS 4A RS 4B RS 4C RS 4D RS 4E RS 4F RS 4G RS MONTHLY RESIDENTIAL REVENUE

NOTES

BEDROOMS

ROOMS

EXPIRATION

ACTUAL

PRO FORMA

LEGAL

3 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 2 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 49

5 4 3 4 4 5 4 4 3 3 3 4 5 4 4 3 3 3 4 5 4 4 3 3 3 4 5 103

Aug-18 Aug-18 Apr-18 Apr-18 Jul-18 Apr-18 Apr-18 Apr-19 May-18 Apr-18 Apr-19 Apr-18 Apr-18 Apr-19 Aug-18 May-18 Apr-18 Aug-18 May-18 Apr-18 Aug-18 Apr-18 May-18 Aug-18 Aug-18 Apr-18 Apr-18

$2,600 $2,400 $900 $746 $2,400 $1,575 $621 $1,050 $1,850 $763 $1,085 $584 $1,253 $1,096 $2,400 $1,875 $1,013 $1,850 $2,400 $724 $490 $590 $1,825 $1,850 $1,875 $1,049 $1,342 $38,206

$2,633 $2,430 $900 $746 $2,430 $1,575 $2,400 $1,063 $1,873 $763 $1,098 $584 $1,253 $1,110 $2,430 $1,898 $1,013 $1,873 $2,430 $724 $496 $590 $1,848 $1,873 $1,898 $1,049 $1,342 $40,323

$3,844 $2,571 $900 $746 $2,982 $1,554 $595 $1,050 $3,208 $758 $1,085 $579 $1,248 $1,070 $3,406 $2,798 $1,013 $2,637 $3,703 $724 $490 $590 $4,395 $3,238 $2,830 $1,049 $1,321 $50,385

$458,469 ACTUAL $458,469

$483,874 PRO FORMA $483,874

$604,615

PREF PREF SCRIE PREF Vacant 5/2018 PREF SCRIE

PREF PREF PREF PREF

PREF PREF PREF

ANNUAL RESIDENTIAL REVENUE TOTAL ANNUAL REVENUE There is currently 1 vacant unit in the building. The super lives off site.

CASH FLOW ANALYSIS GROSS POTENTIAL INCOME Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Fuel Insurance Water and Sewer Repairs and Maintenance Common Electric (PPSF) Super Salary Management Fee Total Expenses Net Operating Income *J51 Tax Abatement

Tax Class: 2 J-51 Actual Actual Actual Actual Actual Actual Actual

ACTUAL %EGI $458,469 100% $0 0% $458,469 ($9,169) 2% $0 $449,300 $1,415

$47,423 $17,000 $17,500 $25,000 $10,125 $5,300 $16,000 $13,680

11% 4% 4% 6% 2% 1.2% 4%

$152,028 $297,272

34%

$/UNIT $16,980 $0 $16,980 ($340) $0 $16,641

$1,756 $630 $648 $926 $375 $0.22 $593 $507 $5,631

PRO FORMA $483,874 $0 $483,874 ($9,677) $0 $474,197 $1,493

%EGI 100% 0% 2%

$47,423 $17,000 $17,500 $25,000 $10,125 $5,300 $16,000 $13,680

10% 4% 4% 5% 2% 1.1% 3% 0%

$152,028 $322,169

32%

$/UNIT $17,921 $0 $17,921 ($358) $0 $17,563

$1,756 $630 $648 $926 $375 $0.22 $593 $507 $5,631


1452 CARROLL STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT UNIT# LEASE STATUS 1A RS 1B RS 1C RS 1D RS RS 1E 1F RS 2A RS 2B RS 2C RS 2D RS 2E RS 2F RS 2G RS 3A RS 3B RC RS 3C RS 3D 3E RS 3F RS 3G RS 4A RS 4B RS 4C RS 4D RS 4E RS 4F RS 4G RS MONTHLY RESIDENTIAL REVENUE

NOTES

BEDROOMS

ROOMS

EXPIRATION

ACTUAL

PRO FORMA

LEGAL

2 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 3 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 3 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 3 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 45

4 4 3 3 3 4 5 5 3 3 3 3 4 5 5 3 3 3 3 4 5 5 3 3 3 3 4 99

Mar-19 Jun-18 Jul-18 Jul-18 Jun-18 May-18 Jul-18 May-19 Jun-18 Jul-18 Sep-19 Jun-18 May-18 Aug-18

$1,541 $2,400 $1,198 $714 $1,850 $2,365 $2,700 $1,435 $1,850 $1,875 $819 $1,875 $1,399 $1,884 $881 $817 $1,825 $1,230 $972 $2,395 $2,148 $1,098 $1,800 $1,875 $1,389 $1,431 $1,899 $43,664

$1,560 $2,430 $1,213 $722 $1,873 $2,395 $2,734 $1,435 $1,873 $1,898 $819 $1,898 $1,417 $1,908 $881 $827 $1,848 $1,246 $972 $2,425 $2,174 $1,098 $1,823 $1,875 $1,875 $1,431 $1,899 $44,548

$1,515 $4,303 $1,177 $714 $3,256 $3,224 $3,762 $1,430 $3,578 $3,307 $819 $3,347 $1,364 $1,849 $861 $796 $3,141 $1,230 $972 $4,095 $2,127 $1,077 $2,855 $3,514 $1,389 $1,431 $1,899 $59,029

$523,966 ACTUAL $523,966

$534,578 PRO FORMA $534,578

$708,348

SCRIE PREF

PREF PREF PREF PREF PREF SCRIE PREF

PREF

PREF SCRIE SCRIE PREF PREF Vacant 4/8/2018

May-18 Jul-18 Nov-18 Jun-19 Jun-18 Jul-18 Jan-18 May-18 Jul-19 Jul-18 Mar-18

ANNUAL RESIDENTIAL REVENUE TOTAL ANNUAL REVENUE There is currently 1 vacant unit in the building. The super lives off site.

CASH FLOW ANALYSIS GROSS POTENTIAL INCOME

Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Fuel Insurance Water and Sewer Repairs and Maintenance Common Electric (PPSF) Super Salary Management Fee

Tax Class: 2 J-51 Actual Actual Actual Actual Actual Actual Actual

Total Expenses Net Operating Income *J51 Exemption (Year 1 of 34)

ACTUAL $523,966 $0 $523,966 ($10,479) $0 $513,487 $1,617

%EGI 100% 0% 2%

$0 $17,000 $17,000 $27,000 $10,125 $5,300 $16,000 $15,840

0% 3% 3% 5% 2% 1.0% 3%

$108,265 $405,222

21%

$/UNIT $19,406 $0 $19,406 ($388) $0 $19,018

$0 $630 $630 $1,000 $375 $0.17 $593 $587 $4,010

PRO FORMA $534,578 $0 $534,578 ($10,692) $0 $523,887 $1,650

%EGI 100% 0% 2%

$0 $17,000 $17,000 $27,000 $10,125 $5,300 $16,000 $15,840

0% 3% 3% 5% 2% 1.0% 3% 0%

$108,265 $415,622

21%

$/UNIT $19,799 $0 $19,799 ($396) $0 $19,403

$0 $630 $630 $1,000 $375 $0.17 $593 $587 $4,010


1460 CARROLL STREET


FINANCIAL SUMMARY

RENT ROLL

RESIDENTIAL RENT UNIT# LEASE STATUS 1A FM RS 1B 1C FM RS 1D 1E FM RS 1F 2A RS RC 2B 2C RC RS 2D 2E RS RS 2F 2G RS RS 3A 3B FM 3C RS 3D FM FM 3E RS 3F 3G RS 4A RS 4B RS 4C RS 4D FM 4E RS 4F RS 4G RS BSMT RS MONTHLY RESIDENTIAL REVENUE

NOTES PREF PREF PREF SCRIE Holdover Pending PREF

PREF Non-Primary (on appeal) PREF PREF

PREF

PREF

BEDROOMS

ROOMS

EXPIRATION

ACTUAL

PRO FORMA

LEGAL

1 Bedroom 3 Bedroom 3 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 2 Bedroom 1 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 2 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 1 Bedroom 2 Bedroom 50

3 5 5 3 4 3 4 5 4 3 3 4 3 4 5 4 3 3 4 3 4 5 4 4 3 4 3 4 106

Apr-18 Mar-18 Aug-18 Jul-18 Aug-18 Mar-18 Apr-19

$1,600 $1,747 $2,450 $892 $2,325 $1,067 $1,183 $314 $294 $981 $1,825 $1,241 $1,044 $1,306 $2,600 $837 $1,850 $1,875 $1,330 $962 $857 $1,216 $1,335 $1,850 $1,056 $1,291 $1,098 $1,400 $37,826

$1,664 $1,747 $2,548 $903 $2,418 $1,067 $1,197 $314 $294 $981 $1,848 $1,241 $1,044 $1,323 $2,704 $837 $1,924 $1,950 $1,330 $974 $868 $1,232 $1,352 $1,924 $1,056 $1,291 $1,098 $1,418 $38,546

$3,500 $1,706 $2,700 $892 $3,314 $1,057 $1,152 $293 $273 $981 $2,931 $1,226 $1,034 $1,270 $3,500 $837 $3,500 $3,500 $1,315 $962 $836 $1,211 $1,325 $3,500 $1,056 $1,270 $1,098 $2,081 $48,322

$453,918 ACTUAL $453,918

$462,548 PRO FORMA $462,548

$579,863

Aug-19 Sep-18 Apr-18 Apr-18 Mar-19 Aug-18 Dec-14 Jul-18 Jul-18 Oct-19 Apr-19 May-18 Oct-18 Sep-18 Jun-18 Sep-19 Dec-17 Mar-18 Aug-18

ANNUAL RESIDENTIAL REVENUE TOTAL ANNUAL REVENUE There are currently 0 vacant units in the building. The super lives off site.

CASH FLOW ANALYSIS GROSS POTENTIAL INCOME Gross Potential Residential Rent Gross Potential Commercial Rent Gross Income Vacancy/Collection Loss Other Income Effective Gross Income Average Residential Rent/Month/Unit EXPENSES Property Taxes Fuel Insurance Water and Sewer Repairs and Maintenance Common Electric (PPSF) Super Salary Management Fee Total Expenses Net Operating Income

Tax Class: 2 Actual Actual Actual Actual Actual Actual Actual

ACTUAL %EGI $453,918 100% $0 0% $453,918 ($9,078) 2% $0 $444,839 $1,351

$73,440 $15,000 $17,000 $29,000 $10,500 $5,300 $16,000 $13,680

17% 3% 4% 7% 2% 1.2% 4%

$179,920 $264,919

40%

$/UNIT $16,211 $0 $16,211 ($324) $0 $15,887

$2,623 $536 $607 $1,036 $375 $0.25 $571 $489 $6,426

PRO FORMA $462,548 $0 $462,548 ($9,251) $0 $453,297 $1,377

%EGI 100% 0% 2%

$73,440 $15,000 $17,000 $29,000 $10,500 $5,300 $16,000 $13,680

16% 3% 4% 6% 2% 1.2% 4% 0%

$179,920 $273,377

40%

$/UNIT $16,520 $0 $16,520 ($330) $0 $16,189

$2,623 $536 $607 $1,036 $375 $0.25 $571 $489 $6,426


ASSET SUMMARIES


A S S E T S U M M A R I ES 1552-1556 President Street

1154 President Street

1575 President Street

Brooklyn

Brooklyn

Brooklyn

NY

NY

NY

1407-9

1282-22

1401-69

56.08 ft X 112.75 ft

70 ft X 127.75 ft

66.42 ft X 110.58 ft

6,323

8,940

7,345

55 x 100

70 ft X 108 ft

66 x 88

18,576

23,340

19,240

R4

R6

R4

0.90

2.43

0.90

0

0

0

LANDMARK DISTRICT:

None

None

None

HISTORIC DISTRICT:

None

None

None

J-51 space $0

J-51 space $36,814

J-51 space $0

2

2

2

1580 President Street

1581 President Street

1588 President Street

Brooklyn

Brooklyn

Brooklyn

NY

NY

NY

1407-22

1401-66

1407-26

72.92 ft X 120.25 ft

66.42 ft X 110.58 ft

72.92 ft X 120.25 ft

8,800

7,345

8,800

BUILDING DIMENSIONS:

72 x 97

66 x 88

72.92 ft X 99 ft

BUILDING SF:

21,960

19,240

21,960

R4

R4

R4

0.90

0.90

0.90

0

0

0

LANDMARK DISTRICT:

None

None

None

HISTORIC DISTRICT:

None

None

None

J-51 space $2,960

J-51 space $42,323

J-51 space $7,831

2

2

2

CITY: STATE: BLOCK & LOT: LOT DIMENSIONS: LOT SF: BUILDING DIMENSIONS: BUILDING SF: ZONING: MAX FAR: AVAILABLE AIR RIGHTS:

ANNUAL TAX BILL: TAX CLASS:

CITY: STATE: BLOCK & LOT: LOT DIMENSIONS: LOT SF:

ZONING: MAX FAR: AVAILABLE AIR RIGHTS:

ANNUAL TAX BILL: TAX CLASS:


A S S E T S U M M A R I ES 1437-1443 Carroll Street

1452 Carroll Street

Brooklyn

Brooklyn

NY

NY

1286-47

1293-38

76.5 x 110.58

72 x 127.75

8,460

9,198

76.5 ft X 96 ft

72 x 107

24,203

31,304

R4

R4

0.90

0.90

0

0

LANDMARK DISTRICT:

None

None

HISTORIC DISTRICT:

None

None

J-51 space $38,460

J-51 space $0

2

2

1460 Carroll Street

520 Crown Street

Brooklyn

Brooklyn

NY

NY

1293-42

1300-21

64 ft X 127.75 ft

120 x 127.75

8,176

15,330

64 x 112

100 ft X 95 ft

20,864

32,666

R4

R5

0.90

1.25

0

0

LANDMARK DISTRICT:

None

None

HISTORIC DISTRICT:

None

None

space $73,440

space $92,096

2

2

CITY: STATE: BLOCK & LOT: LOT DIMENSIONS: LOT SF: BUILDING DIMENSIONS: BUILDING SF: ZONING: MAX FAR: AVAILABLE AIR RIGHTS:

ANNUAL TAX BILL: TAX CLASS:

CITY: STATE: BLOCK & LOT: LOT DIMENSIONS: LOT SF: BUILDING DIMENSIONS: BUILDING SF: ZONING: MAX FAR: AVAILABLE AIR RIGHTS:

ANNUAL TAX BILL: TAX CLASS:


1154 President Street

1575 President Street

1580 President Street

1552-1556 President Street

1581 President Street

1588 President Street


1460 Carroll Street

1452 Carroll Street

1437-1443 Carroll Street

520 Crown Street


MARKET SUMMARY


MARKETING PLAN


1,200+ Investment Professionals In Offices Nationwide.

T H E MARCUS & MILLICH AP ADVAN T AG E Since 1971, Marcus & Millichap Real Estate Investment Services has been the premier provider of investment real estate brokerage services. With more than 1,200 investment professionals throughout the United States, Marcus & Millichap is the largest brokerage firm focused exclusively on investments. By specializing 100 percent on investments and organizing our sales force into property specialty groups, we provide clients with superior market knowledge and transaction expertise targeted specifically to the unique requirements of each property type. and nationally. Having pioneered the industry’s most powerful marketing system, the essence of Marcus & Millichap’s value proposition is our ability to “make a market” for each property through expanded market exposure, which generates the broadest buyer interest and results in maximum value. We combine comprehensive market research, state-of-the-art technology and communications systems with access to the industry’s largest pool of private and institutional investors. The result is the most efficient process for matching buyers and sellers locally, regionally

We offer investment expertise in all major property types, including apartments, retail, office, industrial, single-tenant net-lease, seniors housing, hospitality and lodging, manufactured home communities, self-storage and land.


MOVING CAPITAL, MAKING MARKETS, MAXIMIZING VALUE Marcus & Millichap helps sellers maximize value. Because assets are marketed to a wide range of qualified investors from across the country, sellers receive optimal access to potential buyers. In 2015, the company’s unique national platform, marketing system and investor relationships secured out-of-state buyers for 46 percent of the firm’s total transactions.

46%

OUT-OFMARKET BUYERS

54%

LOCAL BUYERS


CLIENT LIST • Acacia Capital • American Realty Capital • AIG Global Investment Group • AIMCO • Albanese Development Corp. • Archon Residential • Ashkenazy Acquisitions • Associated Estates Realty Corporation • Aurora Capital • AvalonBay • Bank of America • Beachworld Residential • Behringer Harvard • Benchmark Real Estate Group • Beretta USA • Berkshire Property Advisors • Berwind Property Group • BH Equities • BlackRock • Blue Rock Partners • Boston Capital • Boston Financial • BRE Properties • Brodsky Organization • CalSTRS • Camden Property Trust • CAPREIT • Centerline • CenterSquare Investment Management • Clarion Partners • Cole Real Estate Investments, Inc • Compass Bank • Concierge Asset Management • Cornerstone Real Estate Advisers • CWCapital • Delshah Capital • Deutsche Asset & Wealth Management • Dinerstein Companies • Embrey Development • Equity Residential • Essex Property Trust • Extell Development Co. • Fairfield Residential • FDIC • Florida Housing Finance • Forest City Residential • Gables Residential • GE Capital • Greystar Real Estate Partners • Harbor Group International • Heitman Capital Management • Henderson Global Investors • Home Properties • ING Clarion Partners • Inland Real Estate Group of Companies, Inc

• JB Howell & Company • JPMorgan • Jupiter Realty Corporation • Kaltex International • Kennedy Wilson • KeyBank Real Estate Capital • Laramar Group • LaSalle Investment Management • Legacy Partners • Lincoln Property Company • LNR Property Corporation • Lynd Residential Properties • MassMutual • McSam Hotel • MetLife Real Estate Investments • Midland Loan Services • Morgan Stanley • Morguard Corporation • Naftali Group • Northwestern Mutual • Prometheus • Prudential • Related Housing Preservation • Residential Management • Robbins Property Associates • Rockwood Capital • Rudin Management Company • Sares-Regis Group • Sawyer Realty Holdings • Sentinel Real Estate Corporation • Silverstone Property Group • Simpson Housing Group • Spirit Realty Capital • Stablilis Capital Management • Stellar Management • Stonehenge Partners • SunAmerica • Taconic Investment Partners • TD Bank • TGM Associates • The Chetrit Group • The Icon Group • The Milestone Group • The Moinian Group • The Praedium Group • The Related Group • Thor Equities • TIAA-CREF • Trammell Crow Residential Company • UBS Realty Advisors • UDR • Waterton Associates • Wood Partners • W.P Carey


MARKET OVERVIEW


B R O O K LY N BOROUGH

A R T S & C U LT U R E

The borough we know today as “Brooklyn” was named by Dutch colonists after a village in the Netherlands called “Breuckelen.” Brooklyn is home to over 2.6 million residents who are part of a much larger population system. The New York City metropolitan area is the largest in the United States, with more than 19 million inhabitants in three states.

Brooklyn has played a major role in various aspects of American culture including literature, cinema and theater. Brooklyn hosts the world-renowned Brooklyn Academy of Music, the Brooklyn Philharmonic, and the second largest public art collection in the United States, housed in the Brooklyn Museum. Brooklyn has roughly 700 arts and cultural institutions and about 30 miles of waterfront.

New York City consists of five boroughs with about 8.4 million people. Brooklyn, also goes by the name Kings County and the “Borough of Homes and Churches.” Brooklyn is the 7th most populous county in the United States behind such major cities as Los Angeles and San Diego. While physically located on the island, Brooklyn is not considered a part of Long Island.

T R A N S P O R TAT I O N

Brooklyn is also made up of some of New York's prominent Universities and Colleges. Some of the more popular and well respected include:

PROMINENT COLLEGES

About 66% of Brooklyn's population take public transit to get to and from work daily. They spend an average of 43 minutes traveling to work. 45% take the subway to work; 22% drive to work; 10% take the bus; 9% walk to work, 8% carpool; and 2% work at home Public transportation is easily accessible with the subway and bus systems. The vast majority of current subway lines in Brooklyn trace their lineage back to the Brooklyn–Manhattan Transit (BMT) and Brooklyn Rapid Transit (BRT). Subway lines include but are not limited to: D, N, R, F, A, C, B, Q, 2, 3, L, G, S, J, M, Z, 4, and 5.

Brooklyn College Polytechnic Institute Packer Collegiate Institute St. Joseph’s College St. Francis College Brooklyn Law School .

Crown Heights 257


B R O O K LY N NEIGHBORHOODS

D E M O G R PA H I C S

Brooklyn is an international brand, cultural hub, culinary capital, and real estate juggernaut. Its streets are full of diversity, interesting people, and things to do. For more New York City arrivals than ever, for long-time New Yorkers looking for an easier life, for first-time homeowners and long-term renters, it has become the first choice of where to live and where to lay down their roots.

The median age of a Brooklyn resident is 34.7 years. 38% of Brooklyn's population are foreign born. Families make up 64% of Brooklyn households. In 2006, the U.S. Census Bureau calculates Brooklyn's population at 2,508,820.

“Brownstone Brooklyn” contains row after row of magnificent homes. Downtown has become a perfect mixed-use neighborhood, containing a vibrant mélange of residential lofts, top retail, and commercial creativity. Williamsburg has emerged as one of the best neighborhoods for adults and families in the world.

Brooklyn remains the most populous of the city's five boroughs: 2,230,722 in Queens; 1,585,873 in Manhattan; 1,385,108 in The Bronx; and 468,730 in Staten Island. 7.5% are under the age of 5 years 25.1% are under the age of 18 12.3% are age 65 or older. The median age of females in Brooklyn is 36.5 years old. For males, it's 32.7 years.

Park Slope rivals the West Village and Upper West Side for New Yorkers seeking good schools and park-front living. Brooklyn Heights, Fort Greene and Clinton Hill are blessed by some of the most beautiful urban streets anywhere. Manhattan Beach offers coastal living in a neighborhood lined with trees. There are breathtaking mansions in Prospect Lefferts Gardens, Midwood, and Ditmas Park. Prospect Heights has an arch like Paris and edifices that resemble life on Europe’s grandest boulevards. The only way to truly understand Brooklyn is to walk its streets, see its homes, meet its people, and understand its ebb and flow. Never before, has looking for a home in Brooklyn been this exciting. One of the best places to start is here.

C O N F I D E N T I A L 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. © 2018 Marcus & Millichap


C R OW N H E I G H T S NEIGHBORHOOD

T R A N S P O R TAT I O N

Crown Heights offers a variety of housing options: For townhouses, the Crown Heights North Historic District contains large and finely detailed row houses and freestanding mansions designed by Brooklyn’s major architects in the late 19th and early 20th centuries. Some of the area townhouses sport stained glass, ornate plaster ceiling medallions, and oversized windows.

Crown Heights is served by the IRT Eastern Parkway Line and the IRT Nostrand Avenue Line.

There are even rental units available in Crown Heights with these amazing historical details. A second area around Brower Park contains four- and five-family homes built mostly in the Renaissance Revival style, and Italian and Greek Revival styles, too. But if you do not desire a townhouse, the former Brooklyn Jewish Hospital of Crown Heights has been renovated to hold 700 rental apartments — some with 12foot ceilings.

C U LT U R E

For condo fans, Crown Heights offers developments such as 1570 Prospect Place, which offers luxury condo duplexes with patios and kitchens with stainless-steel appliances. The Crown Heights area offers easy access to Manhattan and downtown Brooklyn via four subway lines and the Nostrand Avenue Station of the Long Island Railroad. For recreation, Crown Heights offers the Brooklyn Children’s Museum, the first of its kind in the world when it was established in the 19th Century. Today, it showcases 30,000 objects ranging from dolls to drums to butterflies. Every Labor Day, Crown Heights explodes with celebration, as the neighborhood puts on a West Indian carnival and parade which draws millions.

The “2,” “3,” “4,” and “5” trains run through Crown Heights with major subway stations at Franklin, Nostrand, Kingston and Utica Avenues. Several bus lines serve the area, including the B12, B14, B15, B17, B43, B44, B45, B46, and B65.

Most people believe that Brooklyn artists are only present in the northern neighborhoods like Williamsburg and Greenpoint. However, there is a surprising and escalating number of upand-coming artists in Crown Heights. Some of the more popular galleries include Five Myles, The Betzalel Gallery, Blue Hole Studios, Pranayam Art, and many more. Along with the high diversity of cultural backgrounds in Crown Heights, there are weekly-recurring series of cultural offerings. There are free weekly film, fitness, and music sessions available to the whole community. The renaissance of Franklin Avenue, which began back in the 1980s with the work of the Crow Hill Community Association, has been ongoing and is now attracting restaurants, coffee shops and boutiques no longer run solely by locals but also by proprietors from other parts of Brooklyn and even Manhattan Crown Heights is also home to the Brooklyn Botanic Garden, the Brooklyn Museum, the Brooklyn Children’s Museum, and the Brooklyn Public Library.

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OUR TEAM


TEAM

Shaun Riney Associate Broker Marcus & Millichap BROOKLYN OFFICE Tel: (718) 475-4369 Fax: (646) 349-2282 s.riney@mmreis.com

PROFESSIONAL HISTORY Shaun Riney is a Senior Vice President Investments at Marcus & Millichap and Partner of the New York Multifamily Team, a specialized investment sales team which closed $1 Billion in transaction dollar volume in the NYC metro in 2016. Mr. Riney has a primary focus on large multi-family, mixed-use and development assignments in Brooklyn and Queens. He has ranked as the #1 broker of Marcus & Millichap - Brooklyn office since 2011, and has ranked within the top 50 brokers of the nationwide firm since 2015. Some of his notable recent sales in 2016 include the $73,000,000 sale of the 17 building ZT Realty portfolio in Northern Brooklyn, the $56,000,000 sale of the Mohawk Apartments in Clinton Hill, the $30,000,000 sale of the Roosevelt Apartments in Jackson Heights, Queens, and the $36,000,000 sale of the Southside-Wythe development assemblage for $36,000,000 in Williamsburg, Brooklyn. Riney is an active member of Greenpeace, UNESCO, and the Polaris Project, an organization preventing human trafficking around the globe. He is also a primary sponsor of Discover Outdoors Youth Foundation, whose mission is to provide life-changing, educational, and fun outdoor experiences to underprivileged New York City students who need it most. In 2017, Shaun and the New York Multifamily team partnered with the New Dawn Charter School in Brooklyn to provide funding for a year's worth of programming and adventures. His passions outside of real estate include traveling, scuba-diving, cycling, mountain biking, and spending meaningful time with friends and family. He regularly competes in Triathlons and is a dedicated mountain hiker and has spent considerable time climbing in the Pyrenees Mountain Range of Southwest Europe, the Tramuntana Mountains of Mallorca, The Na Pali Coast of Hawaii, the Adirondacks, White Mountains of New Hampshire, and the Catskills. He is a sports enthusiast, an avid soccer player and Captain of the Brooklyn Football Club (BKFC). Riney is a graduate of Boston University and currently resides in Williamsburg, Brooklyn.

DEFINING ATTRIBUTES

Power Broker: The Multifamily Guy: 2011

#1 Ranking Broker Brooklyn Office: 2011, 2012, 2013, 2014, 2015, 2016

National Achievement Award: 2012, 2013, 2014, 2015, 2016

Named Top 20 to Watch in NYC Commercial Real Estate: 2012

Sales Recognition Award: 2011, 2012, 2013, 2014, 2015, 2016 Crown Heights 257

CoStar Power Broker: 2015, 2016 Brooklyn is Fertile Ground for Rainmaker Riney 2016


TEAM

Peter Von Der Ahe Associate Broker Marcus & Millichap MANHATTAN OFFICE Tel: (212) 430-5114 Fax: (646) 349-3308 pvonderahe@mmreis.com

PROFESSIONAL HISTORY Peter is the top-producing multifamily agent in the Manhattan Marcus & Millichap office. Since joining in 2002, he has consistently ranked among the "Top 10" most active brokers in New York City for multifamily properties. Peter has also been recognized as a Commercial Broker All-Star for the past four years by New York magazine. By focusing solely on the niche of New York City multifamily transactions, Peter has become a distinguished member of the real estate industry. Through this specialization, his team has set various sales records for multifamily assets and has facilitated property transactions in all Manhattan neighborhoods. Private investors, institutional funds, foreign entities, and nonprofit organizations consistently seek Peter’s guidance when searching for advantageous buying or selling opportunities. In 2010, Peter published his first book, Family Secrets: Secret Strategies to New York City Multifamily Investing. This informative work conveys several first-hand experiences detailing how to successfully invest in the Manhattan multifamily marketplace. Peter’s expertise is widely valued throughout the New York multifamily market and his commentary is frequently found in The New York Times, Crain's New York, The New York Post, The Commercial Observer, Real Estate Weekly, Globe Street, and many other industry publications. Prior to Marcus & Millichap, Peter worked at the Real Estate Consulting Group of Arthur Andersen in New York. This group focused on property valuation, financing, and loan underwriting, providing Peter with the experience necessary for working on office, retail, and apartment transactions at the national level. Peter was formerly trained in professional jazz and improvisational piano and has performed in Off-Broadway productions in both New York and Los Angeles.

DEFINING ATTRIBUTES

TRANSACTION EXPERIENCE

PROFESSIONAL AFFILIATIONS

Ranked as one of NYC’s "TOP 10" most active brokers over past 12 months

Specialization in Manhattan Multifamily

Rent Stabilization Association (RSA)

Selected for Commercial Broker All-Star Award - 2006, 2007, 2008, 2009 & 2010

Community Housing Improvement Program (CHIP)

Author of Family Secrets: Secret Strategies to New York City Multifamily Investing

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TEAM

Joe Koicim Associate Broker Marcus & Millichap MANHATTAN OFFICE Tel: (212) 430-5147 Fax: (212) 500-7565 jkoicim@mmreis.com

PROFESSIONAL HISTORY Joe Koicim is a top-producing multifamily and mixed-use broker in the Manhattan Marcus & Millichap office. As a Director of Marcus & Millichap's National Multi Housing Group, Joe focuses on bringing new capital and investment into both established and emerging New York markets. Joe and his team have set many sales records for multifamily assets in Manhattan and across the boroughs. Private investors, institutional funds, foreign entities, and nonprofit organizations consistently seek Joe’s high-level of expertise to provide them with access to lucrative buying or selling opportunities. Most recently, Joe was responsible for the sale of four West Village buildings, a trophy asset in Gramercy Park and a 117 unit multifamily property in Astoria. Some of Joe's other notable transactions include the sale of a nine-story luxury elevator mixed-use building on Park Avenue South in Union Square, a portfolio of nine buildings in Midtown West and the Upper West Side, a ninetysix unit apartment package on West 25th Street, and a newly built high-end elevator building on West 27th Street, adjacent to the Highline. Joe joined Marcus & Millichap in 2004 and was responsible for the sale of over ten transactions within his first fifteen months with the firm. He earned the "Rookie of the Year" award in his first year as an agent, and in 2008, he was recognized by New York magazine as one of the top thirty commercial real estate professionals under the age of thirty. Joe qualified for Marcus & Millichap's National Achievement Award in 2011, 2012, and 2013, and was recently named a top investment sales broker by Real Estate Forum magazine. Joe has been quoted and featured in many trade journals and was featured on The Stoler Report: Real Estate Trends for his insight on Manhattan's real estate investment sales market.

DEFINING ATTRIBUTES Selected for Real Estate NY – Top Thirty Under Thirty Award Featured Speaker on The Stoler Report

Multiple record Sales Prices Achieved Specialization in Mixed-Use & Multifamily Properties

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PROFESSIONAL AFFILIATIONS UJA – REX Committee Member YJP – Executive Committee UMD Alumni NY Association Member


TEAM

Daniel Greenblatt Licensed Sales Associate Marcus & Millichap BROOKLYN OFFICE Tel: (718) 475-4357 Fax: (718) 475-4310 d.greenblat@mmreis.com

PROFESSIONAL HISTORY Dan is a Licensed Real Estate Salesperson specializing in the sale of multifamily, mixed-use and development sites with a primary focus in the Bedford-Stuyvesant, Crown Heights, Prospect Lefferts-Gardens, Flatbush, Midwood, Ditmas Park, Kensington, Prospect Park South, and Borough Park sections of Brooklyn, NY. His primary responsibilities include business generation, valuation, marketing, and start-to-finish deal execution. Dan works closely with many different large portfolio owners and operators advising them on how best to strategically adjust to the changing landscape within Brooklyn real estate. He has a strong understanding of the world of rent-stabilization, violations, and has compiled a wealth of experience in selling apartment buildings with HAP contracts and HPD regulatory agreements. In 2015 Dan was promoted to Senior Associate and also earned the Sales Recognition Award for his outstanding performance in investment sales that same year. Prior to joining Marcus & Millichap, Dan ran an options trading desk at a proprietary trading firm in Chicago. He priced and traded commodity options, index options, and ETF options. As the desk lead, he managed a team that traded both electronically and with brokers in the OTC market and on the Chicago Mercantile Exchange floor. Dan attended the University of Michigan where he majored in economics, having most notably wrote a paper on the Thailand currency crisis and financial contagion. He is an avid traveler having visited nearly thirty different countries across four continents. Whether it is trekking through the Andes Mountains, kayaking around the ancient walls of Dubrovnik, or paragliding off of Lion’s Head Mountain in Capetown, Dan always finds unique ways to enjoy the lands and cultures of the world. Dan also enjoys playing poker and has played in tournaments at The World Series of Poker and The World Series of Poker Circuit Events. He currently resides in Prospect Heights, Brooklyn.

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TEAM

Andrew Dansker Licensed Sales Associate Marcus & Millichap MANHATTAN OFFICE Tel: (212) 430-5168 Fax: (212) 500-5110 adansker@marcusmillichap.com

PROFESSIONAL HISTORY Andrew Dansker is an associate director in the Manhattan office of Marcus & Millichap Capital Corporation (MMCC). He is responsible for securing commercial debt financing for an array of property types including multifamily, office, retail, and hospitality. He has existing relationships with both national and regional lending sources including government agency lenders, commercial banks, CMBS lenders, life insurance companies, private and public funds and bridge lenders. Andrew has more than ten years of experience in the real estate industry. Prior to joining MMCC, he was a mortgage broker at Cooper-Horowitz Inc. He also served as the managing director of Matrix Realty Group, was a summer associate in the offices of Fried, Frank, Harris, Shriver and Jacobson LLP and worked with Intervest National Bank in New York. Andrew earned a Bachelor of Arts in political science from the University of Chicago and a Juris Doctor from New York University School of Law.

DEFINING ATTRIBUTES

PROFESSIONAL AFFILIATIONS

Manhattan Multifamily & MixedUse Specialist

Young Mortgage Banker’s Association

Member of Marcus & Millichap Institutional Property Advisors Capital Markets Group

National Realty Club, Inc.

Expert in short close, vacancy, distress and other special situation financing

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ADVISORY TEAM Peter Von Der Ahe 260 Madison Avenue, 5th Floor, New York, NY Tel: (212) 430-5114 - Fax: (646) 349-3308 pvonderahe@mmreis.com Shaun Riney One MetroTech Center, Suite 2001, Brooklyn, NY 11201 Tel: (718) 475-4369 - Fax: (646) 369-2282 sriney@ipausa.com Dan Greenblatt One MetroTech Center, Suite 2001, Brooklyn, NY 11201 Tel: (718) 475-4357 - Fax: (718) 475-4310 daniel.greenblatt@mmreis.com Zalman Yarmush One MetroTech Center, Suite 2001, Brooklyn, NY 11201 Tel: (718) 475-4377 - Fax: shneur.yarmush@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

Crown Heights 257 Proposal  
Crown Heights 257 Proposal