198 west 10th street budgetary breakdown & investor spreadsheet nestseekers

THE DESIGN | RENOVATION AUTHORITY T M

BUDGETARY BREAKDOWN FOR:

198 WEST 10TH STREET, NEW YORK, NY

BUDGETARY BREAKDOWN CATEGORY

CATEGORY PERCENTRAGE

TOTAL CATEGORY

Site Safety & Protection

0.48%

$19,881.60

Demolition

3.35%

$138,757.00

Carting, Debris, & Site Removals

2.34%

$96,922.80

Hoist & Crane

0.45%

$18,639.00

Scaffolding & Sidewalk Bridge

0.75%

$31,065.00

Shoring, Bracing, & Underpinning

Pending

Pending

Excavation & Fill

Pending

Pending

Concrete / Masonry (Slabs & Formwork)

0.80%

$33,136.00

Rough & Trim Electrical

7.20%

$298,224.00

Lighting Package

2.10%

$86,982.00

Fireproofing

0.72%

$29,822.40

Plumbing

7.25%

$300,295.00

Plumbing Fixtures, Fittings, Accessories

2.02%

$83,668.40

Sprinklers

3.85%

$159,467.00

BUDGETARY BREAKDOWN CATEGORY

CATEGORY PERCENTRAGE

TOTAL CATEGORY

Mirrors, Glass, & Glazing

1.70%

$70,414.00

Wood Flooring (and stairs as applicable)

5.20%

$215,384.00

Specialty Flooring

0.00%

$0.00

HVAC

6.23%

$258,046.60

Appliances (Allowance)

1.30%

$53,846.00

Windows & Exterior Doors

5.50%

$227,810.00

Elevator Package and Associated Work

6.20%

$256,804.00

Front Faรงade

0.00%

$0.00

Structural Steel

0.00%

$0.00

Metal Joists

0.00%

$0.00

Exterior Components

0.00%

$0.00

Roofing, Scuppers, & Gutters

0.00%

$0.00

Wood Doors, Jambs, Casings & Installation

3.40%

$140,828.00

Hardware & Decorative

2.25%

$93,195.00

BUDGETARY BREAKDOWN CATEGORY

CATEGORY PERCENTRAGE

TOTAL CATEGORY

Interior Stairs & Railings

2.65%

$109,763.00

Rough Carpentry & all associated

5.21%

$215,798.20

Closet Interiors

1.15%

$47,633.00

Building Materials

2.80%

$115,976.00

Architectural Millwork, Installation, Trim Installation

3.35%

$138,757.00

Custom Kitchen Cabinets, Vanity, & Installation

4.05%

$167,751.00

Painting, Coating, Finishing, Plaster, & Skim Coating

5.05%

$209,171.00

Stone, Marble, & Tile Material

3.25%

$134,615.00

Stone, Marble, & Tile Installation

5.25%

$217,455.00

Fireplaces

1.10%

$45,562.00

Audio & Video Systems, Motorized Shades, & Security Systems

2.25%

$93,195.00

Project & Site Setup

0.75%

$31,065.00

Project Administration Reimbursable

0.05%

$2,071.00

PROJECT TOTALS CATEGORY

CATEGORY PERCENTRAGE

TOTAL CATEGORY

Total Construction Costs

100.00%

$4,142,000.00

Total Square Footage of Residence

7,600

Per Square Foot Value of Renovation

$545.00

Drafting, Design, Architecture, Permitting 4.5%

4.50%

$186,390.00

TRH Construction 16%

16.00%

$662,720.00

TRH General Conditions 4%

4.00%

$165,680.00

TRH Insurance 1.25%

1.25%

$51,775.00

Total The Renovated Home

25.75%

$1,066,565.00

Delta to build 8%

9.00%

$372,780.00

Total Project Cost

$5,581,345.00

1477 3rd Avenue. New York, NY 10028 212.517.7020 Investment Review Prepared Exclusively for Wells Fargo Advisors, LLC

PROJECT DETAILS Property Address:

198 West 10th Street 7,600.00 3,000.00 15.00 0.0033 0.11 3,300.00 0.20

Total Square Feet of Residence - buildable Anticipated Selling Price of property / per square foot Anticipated Timeline for build out through transfer (months) Expected Interest Expense / monthly Build Delta / Expenses Anticipated Selling Price of property / per square foot / Scenario E Percentage of down

INVESTMENT SCENARIOS:

A

B

C

D

E

Listing Price of Property:

9,500,000.00

9,500,000.00

9,500,000.00

7,750,000.00

7,750,000.00

Final Purchase Price: Down Payment percentage against purchase price Proposed Cost to Build: Miscellaneous Build Delta:

9,500,000.00 1,900,000.00 5,928,000.00 652,080.00

9,500,000.00 1,900,000.00 5,206,000.00 572,660.00

9,500,000.00 1,900,000.00 3,904,500.00 572,660.00

9,500,000.00 1,900,000.00 3,904,500.00 572,660.00

9,500,000.00 1,900,000.00 3,904,500.00 572,660.00

SUBTOTAL: (purchase price + cost to build + contingency of build)

16,080,080.00

15,278,660.00

13,977,160.00

13,977,160.00

13,977,160.00

Annual Interest Payment: The Renovated Home: Real Estate Broker Commission on Proposed Selling Price @ 6%

376,200.00 N/A 1,368,000.00

376,200.00 N/A 1,368,000.00

376,200.00 1,444,665.00 1,368,000.00

376,200.00 1,405,620.00 1,368,000.00

376,200.00 1,822,100.00 1,504,800.00

PROPOSED SELLING PRICE :

22,800,000.00

22,800,000.00

22,800,000.00

22,800,000.00

25,080,000.00

Price per SF:Property + Build Out + Expenses as listed Payoff of First

2,345.30 7,600,000.00

2,239.85 7,600,000.00

2,258.69 7,600,000.00

2,253.55 7,600,000.00

2,326.35 7,600,000.00

N/A

N/A

N/A

390,450.00

846,450.00

10,224,280.00

9,422,860.00

9,566,025.00

9,917,430.00

10,926,710.00

4,975,720.00

5,777,140.00

5,633,975.00

5,282,570.00

6,553,290.00

ROI PER MONTH:

0.0324

0.0409

0.0393

0.0355

0.0400

ROI BASED ON THE TIMELINE OF PURCHASE & BUILD TO TURN OVER (15 months)

48.67%

61.31%

58.90%

53.27%

59.97%

Applicable TRH Fee paid AFTER the sale of property TOTAL INVESTMENT OUTLAY INCLUDING ALL EXPENSES/COMMISSIONS: PROPOSED DOLLAR RETURN:

FOOTNOTES: Scenario A (or column A) represents a retail based project. In a retail based project, TRH would work directly with the end buyer.

Scenario B(or column B) represents a project tailored as a design/construction based project working with investors or an investment firm. TRH'S role would be that of the design/build firm throughout the process.

Scenario C (or column C) represents a project tailored as a construction based project with TRH having skin in the game by lowering and incurring on the construction cost. At completion of the project, TRH will be paid the balance of the outstanding construction cost plus a percentage on the entire construction project.

Scenario D (or column D) represents a project tailored as a construction based project with TRH having skin in the game by lowering and incurring on the construction cost. At completion of the project TRH will be paid only the balance of the outstanding construction cost plus a percentage.. Only after the house is sold, would TRH collect the balance of its percentages as referenced in 1.

Scenario E (or column E) represents a project tailored as a construction based project with TRH having skin in the game by lowering and incurring on the construction cost - but differing from senario D, TRH would share in the upside beyond an agreed price, should the property sell at a premium - at a ratio of 20/80 in favor of the investors. *In the event that TRH extends the project beyond the estimated schedule to build, it will incur the monthly interest expense as a penalty until project completion. **In the event that TRH completes the project earlier than the estimated schedule to build, it receives 60% of the saved interest payment as a bonus.