34 Union Square East Development Site 34 Directly on Union Square Park Use Contacts

EXCLUSIVE OFFERING MEMORANDUM 34 UNION SQUARE EAST DEVELOPMENT SITE 34 DIRECTLY ON UNION SQUARE PARK USE CONTACTS

ADELAIDE POLSINELLI Senior Managing Director, Principal [email protected] 646.658.7327

GARY MEESE Senior Director, Financial Services [email protected] 646.658.7351

EASTERN CONSOLIDATED 355 Lexington Avenue New York, NY 10017 www.easternconsolidated.com

2 34 UNION SQUARE EAST 34 UNION SQUARE EAST

THE LAST REMAINING CORNER DEVELOPMENT ON UNION SQUARE PARK

Executive Summary 6 Sales Comparables 14 Property Overview 8 Location Overview 22 Zoning Summary 10 Confidentiality & Disclaimer 23 Property Photos 12

34 UNION SQUARE EAST 3 EXECUTIVE SUMMARY

4 34 UNION SQUARE EAST 34 USE

34 UNION SQUARE EAST 5 EXECUTIVE SUMMARY

THE ONLY As exclusive agent, Eastern Consolidated is pleased to present REMAINING 34 Union Square East, aka 100–102 East 16th Street, New York, CORNER New York (the “Property”). DEVELOPMENT SITE ON UNION The Property, identified as Block 871, Lot 82, a corner ±26’ x ±125’ development SQUARE PARK site the can accommodate a new mixed-use development containing ±26,000 zoning square feet. Located directly across from Union Square Park, the Property is the only remaining corner development site around the perimeter of Union Square Park.

The Property is currently improved with a ±6,500 square foot two-story commercial building occupied by a single tenant – TGI Fridays Restaurant & Bar, which will deliver the building vacant upon sale.

34 Union Square East is situated in a C6-4/C6-2A split-zoning district and also falls within the Special Union Square District. The maximum FAR for residential use is 8.0 and the maximum FAR for commercial use is 6.0.

The offering presents an opportunity for developers to acquire an extremely rare corner development site located directly on Union Square. The site is extremely well located, benefits from corner visibility, light and air and is located steps from Manhattan’s 4th busiest subway hub.

34 USE

Block Context

6 34 UNION SQUARE EAST 34 UNION SQUARE EAST 7 PROPERTY OVERVIEW

Address 34 Union Square East (aka 100-102 East 16th Street) Block & Lot 871/82 Location 34 Union Square East is situated on the southeast corner of East 16th Street and Union Square East. The Property is located directly across the street from Union Square Park.

As per the Union Square Partnership, Union Square is “home to over 70,000 residents, 150,000 employees and 60,000 students, Union Square is a thriving hub of food, fashion, culture, and cutting-edge businesses with nearly 344,000 daily visitors and 34 million annual subway riders. Transportation 14th Street - Union Square station access featuring L, N, Q, R, W, 4, 5, 6 subway service is located across the street from the Property.

This station in one of the busiest transit hubs in all of Manhattan. In 2016, over 34 million passengers entered the station resulting in the 4th-busiest station in New York’s City’s subway system. Real Estate Taxes (17/18) $213,862 Lot Dimensions ±26’ x ±125’ Lot Area ±3,250 square feet Zoning District C6-4 / C6-2A / US (Special Union Square District) Maximum FAR 8.0 Zoning Floor Area ±26,000 square feet Existing Building Size ± 6,500 square feet Unused Development Rights ±19,500 square feet

Asking Price $31,000,000

EAST 16TH STREET 82

3 78 74 70R 68R

1 7 10 12 14 16R IRVING PLACE UNION SQ EAST

EAST 15TH STREET

8 34 UNION SQUARE EAST LEGEND

Of ce Retail Condominium Commercial Elevator Apartments Dormitory

E 18TH STREET E 18TH STREET

WA AD

857 Broadway Pret O W Hotel Union Square R Petco 860 Broadway 17th31 E St AT&T Sephora The Red Door 33-37 E 17th St Barnes Nobel& The Everett Building E 17TH STREET B S AVENUE PARK E 17TH STREET IRVINGPLACE 41 Union Sq W NYX Makeup 44 Union Sq E 39 Union Sq W McDonalds ±75,322 SF - Under construction 37 Union Sq W Republic 35 Union Sq W Barn Joo Dunkin’ Donuts 33 Union Sq W Dylan Candy Bar 36-42 Union Sq E 31 Union Sq W Blue Water Grill The Children’s Place E 16TH STREET E 16TH STREET

29 Union Sq W Union Square Green Market 34 The Coffee Shop USE 21-25 Union Sq W 32 Union Sq E Starbucks The Vitamin Shoppe NYU Union Square Park 17-19 Union Sq W Babies"R"Us American Eagle 20 Union Sq E - Theatre UNION SQUARE W UNIONSQUARE UNION SQUARE E UNIONSQUARE E 15TH STREET E 15TH STREET 15 Union Sq W Starbucks Sketchers GNC Zeckendorf Towers USBC Panera Bread 5-6 Union Sq W Staples Au Bon Pain FedEx Of ce 1-3 Union Sq W Reebok Best Buy Mobile

E 14TH STREET

8 Union Square S E

reens

WA V A

DSW

Best Buy Best AD

H H Walg Citi Bank Citi

T O

Duane Reade Duane

Forever 21 Forever 38 E 14th38 E St Rack Nordstrom Whole Foods MAC Cosmetics 44-48 14th E St

Capital BankOne 842-846 Broadway 842-846 849-853 Broadway UNIVERSITY PLACE

E 13TH STREET Burlington Coat Factory

34 UNION SQUARE EAST 9 ZONING SUMMARY

The Property is a 26’ x 125’ (±3,250 SF) lot located on the southeast corner of Union Square East and East 16th Street. The western 100’ of the lot is zoned C6-4 (R10 Equivalent) and is located in the Special Union Square District. The eastern 25’ is zoned C6-2A. For the purposes of our analysis, we assume that the more favorable zoning attributes of the C6-4 zoning district can be applied to the entire site due to the “25 Foot Rule.”

Based on our interpretation of Section 118-21(a) of the Zoning Resolution, the maximum FAR for the Property is 8.0. The following is the applicable excerpt from the Zoning Resolution:

The maximum floor area ratio permitted on property bounded by:

Broadway, a line midway between East 14th Street and East 13th Street, a line 100 feet west of University Place, Union Square West and Broadway, a line midway between East 17th Street and East 18th Street, a line 100 feet east of Park Avenue South and Union Square East, East 15th Street, Union Square East, East 17th Street, Union Square West and East 14th Street is 8.0

Additionally, this section of the zoning resolution indicates that the maximum FAR for commercial use is 6.0.

Given the lot size of 3,250 square feet and our interpretation of the zoning resolution, we assume that the lot can be constructed to a maximum zoning floor area of 26,000 square feet.

HISTORIC DISTRICT

EAST 16TH STREET

UNION SQ EAST

EAST 15TH STREET

IRVING PLACE

10 34 UNION SQUARE EAST VIEWS FROM EXISTING ROOF OVERLOOKING UNION SQUARE PARK

View From Existing Roof

34 UNION SQUARE EAST 11 PROPERTY PHOTOS EXTERIOR

34 USE

Looking East on East 16th Street

Union Square Park

Looking West on East 16th Street

12 34 UNION SQUARE EAST INTERIOR PHOTOS EXISTING CONDITIONS TGI FRIDAY’S

Ground Floor Main Bar Ground Floor Main Bar

2nd Floor Dining Area Ground Floor Dining Area

Kitchen (Basement) Kitchen (Basement)

34 UNION SQUARE EAST 13 SELECT DOWNTOWN RESIDENTIAL SALES COMPARABLES — CONDOMINIUM NEW DEVELOPMENTS & CONVERSIONS

1 2 3 4 5

45 East 22nd St 116 University Place 21 East 12th St 688 Broadway 347 Bowery 6 7 8 9

75 Kenmare St 152 Elizabeth St 175 West 10th St 211 West 14th St

NEW DEVELOPMENTS: CONVERSIONS

10 11

212 Fifth Avenue 145 West 11th St

RESALES

12 13 14

15 15 Union Sq West 1 Irving Place 50 Gramercy Park N

DEVELOPMENT SITE SALES

15 182-186 Spring St 20

16 459 West 19th St (Off Map) 17 301 Canal St 18 419 Broadway

19 253-255 10th Ave (Off Map) 20 74 Grand St

14 34 UNION SQUARE EAST 10

Madison Avenue Square Sixth Park

Avenue

ifth F Broadway 1

East 23rd St 9 14

11 Union Square 12 Park

2 13

3 East 14th St

Washington Square Park

4 East 4th St

20 6

7 17 18 8

34 UNION SQUARE EAST 15 DETAILED SALES DATA — ACTIVE LISTINGS & CLOSED SALES

Development Site Sales Comps

# Sale Date Address Sale Price Zoning SF of ZFA $/SF of ZFA Note 1 6/8/2017 182-186 Spring Street $31,565,000 R7-2/C1-5 37,278 $847 Purchased in Bankruptcy auction. ZFA as per Press Release. 2 6/1/2017 459 West 19th Street $20,000,000 C2-5/R8A 22,876 $874 - 3 1/19/2017 301 Canal Street $5,400,000 M1-5B 4,535 $1,191 Part of an assemblage with 419-423 Broadway. 4 10/7/2016 419 Broadway $28,000,000 M1-5B 26,000 $1,077 Part of an assemblage with 301 Canal Street 5 9/8/2016 253-255 10th Avenue $16,000,000 C6-3/WCH 15,000 $1,067 Buyer purchased add'l SF via Highline Transfer Corridor.* 6 3/3/2016 74 Grand Street $12,500,000 M1-5B 12,493 $1,001 - Maximum $31,565,000 37,278 $1,191 Average $18,910,833 19,697 $1,009 Minimum $5,400,000 4,535 $847 Sources: CoStar, Property Shark, DoB, Eastern Consolidated Data * Eastern Sale.

75 Kenmare Street I $2,800 PSF

Unit List Price Size $ PSF Bedrooms Baths 3J $2,900,000 994 $2,918 2 2 2B $1,725,000 708 $2,436 1 1 3E $2,952,000 1,021 $2,891 2 2 2D $3,400,000 1,167 $2,913 2 2 2C $1,695,000 689 $2,460 1 1 3H $1,695,000 622 $2,725 1 1 5E $3,100,000 1,021 $3,036 2 2 4J $2,975,000 994 $2,993 2 2 4D $3,550,000 1,164 $3,050 2 2 2H $1,695,000 601 $2,820 1 1 2G $2,300,000 872 $2,638 1 1 full, 1 half 2A $1,880,000 815 $2,307 1 1 Average/Wghtd. Avg. $2,488,917 889 $2,800 Total $29,867,000 10,668

116 University Place I $2,798 PSF

Unit List Price Size $ PSF Bedrooms Baths PH $9,950,000 3,127 $3,182 3 3 3 $7,350,000 3,056 $2,405 3 3 Average/Wghtd. Avg. $8,650,000 3,092 $2,798 Total $17,300,000 6,183

16 34 UNION SQUARE EAST 21 East 12th Street I 21 E 12 I $3,313 PSF

Unit List Price Size $ PSF Bedrooms Baths 9A $4,350,000 1,478 $2,943 2 2 8B $4,500,000 1,629 $2,762 2 2 5A $3,950,000 1,478 $2,673 2 2 7C $2,675,000 1,033 $2,590 1 1 10B $4,850,000 1,629 $2,977 2 2 16C $6,225,000 2,028 $3,070 2 3 21A $9,350,000 2,679 $3,490 4 4 11C $5,650,000 2,028 $2,786 3 3 THA $11,500,000 3,310 $3,474 4 4 5D $2,500,000 1,006 $2,485 1 1 19A $8,850,000 2,679 $3,303 4 4 5C $2,600,000 1,033 $2,517 1 1 TH3B $12,000,000 3,307 $3,629 4 4 18A $8,600,000 2,679 $3,210 4 4 9B $4,750,000 1,629 $2,916 2 2 6B $4,400,000 1,629 $2,701 2 2 PHA $15,500,000 3,249 $4,771 3 3 PHB $17,500,000 3,664 $4,776 4 4 19B $8,250,000 2,496 $3,305 3 3 18B $8,050,000 2,496 $3,225 3 3 17A $4,850,000 1,478 $3,281 2 2 15A $4,675,000 1,478 $3,163 2 2 14A $4,575,000 1,478 $3,095 2 2 12A $4,500,000 1,478 $3,045 2 2 11A $4,450,000 1,478 $3,011 2 2 10A $4,400,000 1,478 $2,977 2 2 17B $5,250,000 1,629 $3,223 2 2 16B $5,150,000 1,629 $3,161 2 2 14B $4,975,000 1,629 $3,054 2 2 15B $5,075,000 1,629 $3,115 2 2 Average/Wghtd. Avg. $6,465,000 1,951 $3,313 Total $193,950,000 58,543

152 Elizabeth Street I $3,467 PSF

Unit List Price Size $ PSF Bedrooms Baths 3W $6,850,000 1,946 $3,520 3 3 2W $6,500,000 1,958 $3,320 3 3 3E $6,100,000 1,968 $3,100 2 2 full, 1 half 5 $15,200,000 4,080 $3,725 4 4 full, 1 half 2E $6,250,000 2,015 $3,102 2 2 full, 1 half 4 $15,000,000 4,158 $3,608 4 4 full, 1 half Average/Wghtd. Avg. $9,316,667 2,688 $3,467 Total $55,900,000 16,125

34 UNION SQUARE EAST 17 45 East 22nd Street I Madison Square Park Tower I $3,320 PSF

Unit List Price Size $ PSF Bedrooms Baths Closing Date 44B $7,567,300 2,162 $3,500 2 2 8/17/2017 19A $5,954,820 2140 $2,783 3 3 8/15/2017 48A $9,550,000 2482 $3,848 3 3 8/14/2017 33A $6,672,880 2018 $3,307 2 2 8/14/2017 33B $4,937,606 1520 $3,248 2 2 8/14/2017 17B $2,614,183 1091 $2,396 1 1 8/14/2017 16B $2,610,685 1074 $2,431 1 1 8/11/2017 47A $9,675,180 2478 $3,904 3 3 8/10/2017 46B $8,076,734 2164 $3,732 2 2 8/10/2017 32A $6,423,108 2006 $3,202 2 2 8/10/2017 40A $8,385,035 2414 $3,474 3 3 8/9/2017 42B $7,439,621 2154 $3,454 2 2 8/9/2017 27B $5,086,424 1486 $3,423 2 2 8/4/2017 23A $6,801,242 2193 $3,101 3 3 8/3/2017 21B $2,975,276 1128 $2,638 1 1 8/3/2017 28B $4,496,005 1491 $3,015 2 2 8/2/2017 30A $6,188,299 1981 $3,124 2 2 8/1/2017 37B $5,536,960 1539 $3,598 2 2 7/27/2017 31B $5,102,407 1509 $3,381 2 2 7/27/2017 38A $7,220,267 2074 $3,481 2 2 7/26/2017 32B $5,276,498 1514 $3,485 2 2 7/26/2017 21A $6,413,673 2166 $2,961 3 3 7/25/2017 36A $7,228,723 2053 $3,521 2 2 7/24/2017 Average/Wghtd. Avg. $6,184,040 1,862 $3,320 Total $142,232,926 42,837

175 West 10th Street I $2,651PSF

Unit List Price Size $ PSF Bedrooms Baths 2 $5,250,000 2,702 $1,943 3 3 full, 1 half PH $9,995,000 3,049 $3,278 3 3 Average/Wghtd. Avg. $7,622,500 2,876 $2,651 Total $15,245,000 5,751

18 34 UNION SQUARE EAST 347 Bowery I Weighted Avg. Active List Price: $2,681 I Weighted Avg. Closed Sales: $3,445 Listings

Unit List Price Size $ PSF Bedrooms Baths 78 $7,750,000 2,891 $2,681 3 3 full, 1 half

Closed Sales

Unit List Price Size $ PSF Bedrooms Baths Closing Date PH $16,200,000 3,943 $4,109 4 3 full, 1 half 6/29/2017 R-3 $6,155,663 2,546 $2,418 2 3 6/28/2017 Average/Wghtd. Avg. $11,177,832 3,245 $3,445 Total $22,355,663 6,489

688 Broadway I 1 Great Jones Alley I $3,054 PSF

Unit List Price Size $ PSF Bedrooms Baths 7B $5,450,000 1,874 $2,908 3 2 full, 1 half 5A $4,725,000 1,778 $2,657 2 2 full PH $23,750,000 5,596 $4,244 4 5 full, 1 half 9 $9,555,000 3,303 $2,893 4 4 full, 1 half 3B $4,750,000 1,874 $2,535 3 2 full, 1 half 3A $4,900,000 1,778 $2,756 2 2 full 4A $4,995,000 1,778 $2,809 2 2 full 7A $5,150,000 1,778 $2,897 2 2 full 6A $5,100,000 1,778 $2,868 2 2 full 10 $9,925,000 3,303 $3,005 4 4 full, 1 half 8 $8,950,000 3,303 $2,710 4 4 full, 1 half 2B $4,750,000 1,711 $2,776 2 2 full, 1 half 2A $4,600,000 1,778 $2,587 2 2 full Average/Wghtd. Avg. $7,430,769 2,433 $3,054 Total $96,600,000 31,632

34 UNION SQUARE EAST 19 LOCATION OVERVIEW

20 34 UNION SQUARE EAST 34 USE

34 UNION SQUARE EAST 21

k a r ORCHARD Wake eld PELHAM t m BEACH Wake eld BAY A 241 St PARK WESTCHESTER B 2 A YC EASTCHESTER THE BRONX H ES T T ER S Eastchester B Nereid Av A 33 R V 2 Dyre Av O 2•5 A D 5 Riverdale W A Woodlawn 233 St Y New York City Subway 2•5 Baychester Av CO-OP

M 5 225 St 22 ST CITY O h 2 with bus and railroad connections t S r • o 2 5 H

O N - L o U r t

Van Cortlandt Park e 219 St BAYCHESTER

M Key THE • 242 St

VAN Wood lawn 2 5 Y V 1 A CORTLANDT P A I K 4 E

N W

W K CITY Thesubway operates 24 hours a Local service only

P Y D PARK D RIVERDALE Gun Hill Rd R Gun Hill Rd BRONX Y Williams U

A E A W O B Y ISLAND Rush hour line L S day, but not all lines operate at all

P • O 5 K RK 2 5 V W All trains stop (local I Bridge E A A S P R P W N

N M PK A extension B H TO A times.Call our Travel Information N E R H D L and express service) D VAN CORTLANDT Mosholu Pkwy E Norwood I E

O T D PE

E G LL E A Center at 511 for more information S D E A

N 238 St I 4 A D R 205 St

231 ST P N C V U B L 1 A in English or Spanish (24 hours) or E V Pelham Bay Park N A

H A I D L

KINGSBRIDGE I

A N

I A N P

Y Burke Av 6 ask an agent for help in all other V W

B S S R IR

• R E N 2 5 D Accessible D languages (6AM to 10PM). E 231 St R Station Bedford Pk Blvd Bedford Pk Blvd N H W station 1 • Buhre Av O Name Lehman College B D ET Spuyten L • Free subway transfer 225 ST Allerton Av 6 D A B Duyvil o-North Marble Marble Hill 4 Pelham Pkwy ID Metr 2•5 M Free out-of-system Hill 225 St Botanical Garden 5 Bus or AIRTRAIN H E U subway transfer ON DG 1 T to airport RI Kingsbridge Rd Middletown Rd C DS B H visit www.mta.info (excluding single-ride U E Y • IN H A Kingsbridge Rd V 6 W B D S Police Y IDG D A Morris Park ticket) Pelham Pkwy O R R A N O 4 E N B R V • 5 A Full time service B M 2 5 HE O R E R Bus to airport Fordham Rd T Part time service E S INWOOD J • Fordham WH Westchester Sq Terminal 215 St B D E Fordham Rd H P HILL PARK K D BRONX Bronx Park ITE AV C East Tremont Av To show service more clearly, geography 1 R 4 FORDHAM T T W AM N S Y DH West FarmsZOO Sq P AmtrakO E R East LA M 6 on this map has been modi ed. Commuter rail service FO E W Y UNIVERSITY HTS BR • R W Inwood E Tremont Av 2 5 IN T P 207 St 183 St S E X University RD E 207 St Y 182–183 Sts Zerega Av M 4 THROGS A 1 Heights • e B D A W 180 ST S 6 This map depicts weekday service. D t T NECK r A o Burnside Av L O - AWR Castle Hill Av R BRIDGE

R N GRAND CONCOURSE E 180 St Z On weekends and late nights, these routes change:

B o 4 PARKCHESTER E Dyckman St 6 Dyckman St r Tremont Av 2 • • EN R CKNE t 2 5 E h Tremont 5 G V RU A • C FORT TRYON 1 southbound only B D TRE E CROSS BRON A B A MON X EXP T AV WY A PARK T AV C S V Weekends Morris 176 St TREMONT H Parkchester A A S 191 St I L R T 4 L D 6 190 St O HIGHBRIDGE Heights E 1 174–175 Sts H H A Manhasset PARK St Lawrence Av I BRONX-WHITESTONE A C 174 St L • V I

F B D EL W L

N O Mt Eden Av • 6 A HI 2 5 D V R T E TE P B WASHINGTON BRIDGE T S 4 R No service- Delancey St/ Local in No service- Dyre Av– R BRIDGE 181 St 181 St W L O rush Morrison Av AI useC D Q Essex St– Manhattan, useNR Bowling Green A GEO. WASHINGTON A A 1 HAMI LTON BRIDGE N S D 170 St hours A Soundview S RD

H H Metropolitan Avvia Manhattan BRIDGE W 170 St V SO I h N t U A 4 6 • r N G a B D D Bridge Y WE o Freeman St HIGH- VI LIRR T E N Elder Av W O r • BRIDGE - 2 5 B A N o V (midnight to 6am, daily) l r Late nights S 6 175 St A t MORRISANIA T V e e E SOUNDVIEW AMSTERDAM AV A M 167 161 S Stt R Whitlock Av m 167 St

Yankee Stadium A 4 • 6 42 St V B D s WASHINGTON Simpson St P

B s A R R HEIGHTS 168 St • e W 2 5 r S Auburndale H O Local, 207 St– No service- Local No service- Local in Myrtle Av– No service- • • • i p A C 1 N Amtrak A C I T v x S E Far Rockaway. useA service useA D Q Brooklyn Metropolitan Av use7 e Little FT Melrose S B R e T L Great n I Intervale Av V Euclid Av-Lefferts Shuttle WA O Neck V 163 St–Amsterdam Av r D Douglaston RIVERSIDE PARK o E i N Bayside Neck • • t Auburndale R D 2 5 Hunts Point Av E Blvd Shuttle LIRR S C Yankees- • c S E H 4 e I rush r 6 X D E153 St i P AV Prospect Av E d • D hours W Longwood Av D • k 2 5 a Y R 157 St 155 St e 6 155 St B Jackson Av p 149 St–Grand r 1 s s C s • 5 u e Concourse • o s pr • 4 THE HUB 2 5 h direction ex e C ush hour peak 2 h r L r rus E p E 149 St BroadwayLocal, via Local Whitehall St- No service- Local A 148 St– Local, Woodlawn– Dyre Av– x HUNTS D R DO UG V V e 6 BL IE RIVERBANK MOTT HAVEN POINT N Financial District service 95 St useN service TimesW Sq/42 St New Lots Av E180 St FRE D 3 Av–149 St n R E STATE PARK o HE X Harlem • ti E 143 St T P Skips Hoyt St Shuttle

LAS S R W 145 St 2 5 c St Mary’s St O 145 ST 145 St re N Y 145 St ERIC K 148 St i 1 ak d 6 • • • M 3 pe D BLV D A B C D PO 3 weekday

A 138 St–Grand

L WELL ST NICHOLAS AV AV NICHOLAS ST

C Concourse Cypress Av

137 St AM O • 6 e r L 4 5 Brook Av

B v

City M i CLAYT ON

R 4 skips rush hour 6 B 3 Av R N 135 ST Murray A

O X

College LVD ( 7 peak direction t

135 St

A 135 St R s Q B 138 St Hill U

D E O QUEENS 1 • L 2•3 a RIKERS E

B C V

6 B E

VILLAGE

B A E AV ) ISLAND

R Y R

( V

125 St L A I

T Y

125 ST E 125 St D W E

125 St M60 SBS XP D N F E I 1 G LaGuardia Link Q70 SBS CUNNINGHAM S

• • L

O E

• • • 125 St K

A B C D 2 3 M60 SBS FLUSHING PARK IL

X M60 SBS E Harlem • • H

LGA Airport 4 5 6 N M60 SBS M60 SBS HARLEM A Q47 KISSENA

116 St N

V 125 St Flushing E

) ) EAST

LGA Airport RANDALLS Q48 PARK D Columbia 116 ST QUEEN S E HARLEM ISLAND Main St KI IK Y Flushing SS 116 St 116 St 116 St Q72 ENA P University BL FRESH N 7 VD R B•C 2•3 ND U M60 SBS 1 6 LA MEADOWS T HOLLIS IS N LAGUARDIA NG IO LGA Airport LO U N AIRPORT Q48 T U Central Park O Cathedral Pkwy P

Cathedral AV AMSTERDAM 110 St IA North ( 110 St) AV SECOND P

THIRD AV AV THIRD

(110 St) AV FIRST Pkwy • 6 K • 2 3 Q72 Mets–Willets Point W B C Y Hollis (110 St ) Q47 • 7 Q48LGA Airport M JAMAICA 1 A BLVD IN ESTATES DITMARS LVD CORONA Mets–Willets Point S Astoria RIA B T ASTO R 103 St 103 St Ditmars Blvd ASTORIA 111 St Q3

I 103 St

3 V • AV MADISON • 1 E 1 B C N W 82 ST • 6 7 Q48LGA Airport

S R FIFTH AV AV FIFTH 1 PARK AV AV PARK 1

T S 1 FLUSHING so n S

I T D M60 SBS MEADOWS Y Jamaica E 96 ST W LIRR

CORONA P D Astoria Blvd ST STEINWAY X 179 St 96 St 82 St–Jackson Hts E KEW R 96 St 96 St • 103 St–Corona Plaza PARK G 6 M60 SBSN W LaGuardia Link Q70 SBS N GARDENS F ive r

36 ST ST 36 I 1•2•3 • L 7 D P WEST END AV AV END WEST B C JACKSON R HILLS HILLCREST A V LGA Airport a A RS A 21 S 21 G 74 St–Broadway HEIGHTS H O 169 St A u Junction Blvd 11 E NS IC a 2 S C B r T A L V F MA R d •

MANHATTAN T V R 86 ST M ia 7 Q72LGA Airport D A JA V 30 Av Northern Blvd L O E B 30 A i H AV CE 86 St B VERNON n D

LE k I R 86 St 86 St • S Hu d • • N W Steinway St Q 90 St–Elmhurst Av COLUMBUS AV AV COLUMBUS

O UPPER 7 J WEL L Parsons Blvd N • X 4 5 6 B C 0 U IL UPPER1 A N

IN T EAST SB V 7 C JE H

D F R S A T WEST GT 65 St 7 IO W 46 St T A METROPOLITAN SIDE M • L N JAMAICA

L E SIDE A • B O • V

R L Y P 81 St–Museum R 7 E V MUSEUM LV D

N N M S D Sutphin Blvd

79 St A 79 ST M • O

AV R of Natural OF ART R O

Amtrak LGA Airport Broadway • R F K R

1 • R History • W N W BROADWAY • Q72 • R Forest Hills • M • F • F Jamaica Center E • 77 St • R B C • R 67 Av 71 •AvF • F Kew Gardens S LVD Briarwood LONG Elmhurst Av • R 63 Dr–Rego Park 75 Av QUEENS B T M E Union Tpke Parsons/Archer 6 36 Av • R E E M 72 ST ISLAND M Woodhaven Blvd M E V YORK AV AV YORK Grand Av • • E 72 St A E J Z R 72 St CITY N 36 St Newtown M R R • • CENTRAL • Jackson Hts E IC 1 2 3 B•C W 69 St M H K Lexington Roosevelt Av C B PARK Av/63 St 21 St M 7 Kew R L 68 St • E A V 39 Av R • REGO PARK Jamaica D Queens- s F NS BLVD Hunter College s • Q47 LGA Airport (Terminal A only) QUEE Gardens re 61 StWoodside M Forest 66 ST F 66 ST bridge N xp Woodside • LIRR E 66 St 6 • e R KEW W n • Hills Q10 RooseveltF F io 7 • LaGuardia Link Q70 SBS Sutphin Blvd Lincoln Center 63 ST 41 AV ct 52 St LaGuardia Link Q70 SBS GARDENS Jamaica Island dire Archer Av 1 eak 46 St7 FOREST Van Wyck r our p AV AV ROOSEVELT ush h Bliss St HILLS N JFK Airport Lexington Av/59 St Queensboro A • • • ISLAND 7 LIT E J Z LIRR • • PO 60 ST N R W T R A M W A Y Plaza 40 St RAND O

G JUNIPER 59 St N•W•7 33 St-Rawson LowerySt St ETR V CENTRAL PARK SOUTH VALLEY M AN Columbus Circle 59 ST Queens 7 7 121 St 5 Av/ 59 St QUEENSBORO BRIDG E Plaza PARK RICHMOND • • • • B 57 St-7 Av Z rush hours, A B C D 1 • 7 Av 57 St 59 St • • E FOREST HILL W WEST D • • • 4 5 6 Court Sq-23 St • Y •E N Q R W F • • M J other times CK SIDE N R W • • • PARK 53 ST Lexington Av/53 St E M E M R L E 53 ST 111 St EFF X D ER P V MIDDLE TS B WY S L Locust B J LVD U B R VILLAGE T N 1 AV AV 1 Manor 50 St O 5 Av/53 St PHI E 50 ST A 51 St Court Sq D D 49 St AV SIXTH 50 ST Ozone Park IN • W E•M • V N L southbound C E 50 St 6 G 7 A 104 St A N•R•W 7 111 B AV A Lefferts Blvd LV 1 Y 47–50 Sts C S northbound AV 2 I Z rush hours, T D 42 St/Port Authority AV 3 A NT M A Rockefeller Ctr UNITED A J other times LIRR Bus Terminal OI J B•D•F•M NATIONS 21 St 111 St • • Middle Village Woodhaven Blvd W WOODHAVEN AIRTRAIN JFK A C E 42 ST G OO Q10 EENP Metropolitan Av • DHAVEN A LINCOLN TUNNEL Hunterspoint Av R GLENDALE J Z G XPWY V Times Sq-42 St ND E B A 5 Av Grand Central Vernon Blvd ISLA M LVD Y 42 St Hunters Point Av ONG T • • • • • • • • L 85 St–Forest Pkwy R 104 St JAVITS N Q R S W 1 2 3 7 7 42 St exceptS JacksonLOCATION Av OVERVIEW E • Bryant Pk 7 LIRR Fresh Pond Rd V IB A CENTER exceptS • • • • • QUEENS A J L • • • Y B D F M S 4 5 6 7 Metro-North 7 M LE FO A MIDTOWN REST AV RT Rockaway Blvd 34 St TUNNEL Long Y W 75 St–Elderts Ln 34 St 34 St E 34 St M AV K A

• I 33 St R NJTransitAmtrak G Island MASPETH Forest Av Z rush hours, Hudson Penn Herald Sq P M A

Penn AV 5 H

A 6 A P

T • • • N M Yards Station B D F M R E City H J other times H Station RIDGEWOOD N 88 St 33 St 28 St K A ETROPOLITAN QUEENS O • • • • • • 28 St T M A • • • T S 28 St N Q R W a 7 A C E LIRR S 1 2 3 LIRR • A Union SquareA is one of the busiest and most desired retail corridors in A V Cypress Hills

E R W N N V Seneca Av BROOKLYN I 6

V s 1 GREENPOINT A CROSS BAY BLVD B B S Greenpoint Av

E V CHELSEA R J M t O 23 ST N O 23 ST G A R T 23 St 34 R Bedford Av 80 St 23 St 23 St 23 St 23 St D 23 St • 6 H NASSAU AV E W USE • 5 I • • i Crescent St A

11 • A K 10 C E F M New York City with approximately 350,000 daily visitors. During the 19th • 4 9 AV 9 1 R W A 6 L v C V Y • A • W Jefferson St DeKalb Av

A J Z 6 Av • W Nassau Av A • R e J V L V 18 St • R G L Halsey St OZONE • Q r Aqueduct • Q WYCKOFF AV L PARK 8 Av • N Norwood Av 1 L 14 St–Union• N Sq Graham Grant Av Racetrack L 14 St 14 ST L L 3 Av L 1 AvL N 7 ST Lorimer St Grand St Myrtle

3 century, Broadway and Fourth Avenue merged, and Union Square’s name Av Z rush hrs, J other times AV 2

1 L L Wyckoff Avs A A W L A BU Morgan Av AV AV S T Q3 14 St H Montrose Av WI Knickerbocker Av S E W LSON AV • Cleveland St 14 St 14 St V I L L M Wilson Av S C N Aqueduct • • K A L O T A C E • • • V M L T J 1 2 3 F M Astor Pl Metropolitan Av J other Chaunceytimes St L S 9 St EAST E 8 ST U North Conduit Av B15 T FDR Euclid Av 7 L represents the union of the two main passageways of the island. Today, F BUSHWICK Z rush hours, 8 St-NYU G Van Siclen Av G A 6 VILLAGE Bushwick Av Z REE B Central Av • V • A Q10 F O A C NW ATH R•W BUSHWICK AV Aberdeen St • L A W B IC P A Z rush hrs, Y LEE H E D • J T HUDSON RIVER PARK WASHINGTON Y M L CKE A R R WILLIAMSBURG R 5 V E Y V • C J other times E R A V W 4 T ST S SQUARE PARK E Broadway IB A T T Union Square is bounded by 14th Street on the South,L Union Square West L N Shepherd Av 8 T Alabama Av I E Junction AIRTRAIN JFK NOHO E 4 ST R ITK W 4 St EAST Y AY • P C S ROADW A Christopher St Broadway • M M B Gates Av J Z T RIVER Lorimer• M StFlushing Av Howard eachB Wash Sq G J Z rush hours, Halsey St • • • • • • PARK J KosciuszkoJ otherSt times J Van Siclen Av JFK Airport A B C D E F M M LOWER Myrtle Av JFK Christopher St 1 BLEECKER ST Bleecker St • on the west side, 17th Street on the North andJ UnionJ Square East on the Liberty • F E • Atlantic Av C A S EAST SIDE G Sheridan Sq 6 RID M INTERNATIONAL I • D B • X Av HOUSTON ST B’way–LafayetteB 2 AvStF RG Z L AIRPORT T U 4 GREENWICH SB East VNY EAST HOWARD BEACH H M • Z A IA • M weekday peak Rockaway N C New Lots Av VILLAGE • Z LL J A I • M Av S NEW V W I 1 Houston St A V • Meast. It links together Broadway,J ParkG Avenuedirection express South to Fourth Avenue and N 3 U C YORK Prince St D R TH ST • J NI E PA 1 I Delancey St Marcy Av C • O R HOUSTON R W Spring St N E Van Siclen Av K Hewes St T N AirTrain stops/ Spring St Essex St A S Sutter T Myrtle Ralph Av A 2 S S V N • SOHO 6 LITTLE ITALY F EY O V 3 terminal numbers ST T C E C FlushingBED Av T C Av N FO Willoughby Avs L RING GRAND ST DEL A the continuation of Broadway. It isR Done of the most important intersectionsU L Pennsylvania Av SP A F V G VAN CANAL ST Nostrand Avs 3 PENNSY SI TUNNEL Canal St Canal St YCanal St • Z Grand St CL HOLLAN D W OCEAN HILL- A E • • J • V N A C E B D A A Bedford Utica Av L AV 1 W NAVY BROWNSVILLE V • • C G SH BEDFORD- A Junius St Livonia Av ANIA TRIBECA D J N Q BoweryANAL S East IN T YARD H INGTON • A of New York City. STUYVESANT C • • • R US 3 L O U Franklin St C R W Z 6 CHINATOWN Broadway T G FL R E Classon Av H RS ST AV B

U F Rockaway Av 1 6 AY York St V New Lots Av W R DGE BW N BRI F FORT GREENE E A Washington Avs G V C Chambers St E TTA 3 E MANHA L A L B15 JFK Airport H S Kingston IA Far Inwood T • A C MYRT UTICA AV N Chambers St S F Throop Avs LIRR S Park Chambers St L T O Rockaway T Union Square is a true mixed-used neighborhood, thanks to 70,000 residents, 142,000 A S Saratoga Av IV T • • T FORT GREENE Clinton C L City • B 1 2 3 Place J Z U G V EN High St PARK A G 3 J S R H E Nostrand Av BATTERY 2•3 Hall DUMBO • A A T BE East 105 St CROSS BAY BLVD Far Rockaway workers, and 40,000A C studentsY V that coexist in theT area. Many buildings of the New School Brooklyn Bridge E A PARK CITY • BROOKLYN DeKalb Av Fulton St • L R W BRIDGE S Y Nostrand Av A Franklin AvC Mott Av City Hall 4•5•6 T • • F Crown Hts Sutter Av–Rutland Rd World Trade B Q R G A C A (Parsons) are near the square as several dormsL for NYU. Major employers like Con-Ed 3 • CROWN Utica Av Center C S Clinton ST HEIGHTS • Beach 25 St Jay St WashingtonN Avs 3 4 PATH E TO BED Fulton St BROOKLYN UL A and Beth Israel operate in the area, as Gwell as large F mixed-use developments like the four HEIGHTS MetroTech AY Cortlandt St Court St FO W U WTC • • • T • • • K T S D • A C J Z S A C F R R IC Canarsie JAMAICA EA BLV Cortlandt St R W R R A Beach 36 St GIRT H D P • • • 29-story 670-unit residential Zeckendorf Towers. N A BAY 2 3 4 5 T Lafayette Av R Kingston Av AV Rockaway Pkwy A 1 FINANCIAL U A E R O T D • 3 C V S 3 WILDLIFE DISTRICT Wall St S 2 EA L CANARSIE L T Nevins St Atlantic Av–Barclays Ctr RE REFUGE E 4•5 Wall St S BROOKLYN 5 M N Beach R • • • • • • • • • • SEN AV N • E BRIDGE Clark St • 4 2 3 4 5 B Q 2 3 4 5 LIRR • 5 Broad A 44 St 2 3 T Park • 4 Nostrand Av T H Rector St Rector St A • 3 PARK Franklin Av C Y W 2 • 3 Channel A • FLATBUSH AV Pl 3 OP S H 1 R W A The neighborhood’s prime location is surrounded by the Flat2 Iron District to the north, R EAST • C W Broad St Hoyt 7 Av• Q A S Beach S A D Hoyt St B E • S FLATBUSH V B A J Z Borough Hall 60 St M Schermerhorn President St WINTH A • O 2 3 Chelsea to the west,NEW YORK GreenwichI Village to the south, and the Gramercy to the east. • • AV S T • R A C G • 3 2 5 A

2,3 and H H B TRANSIT GEN ST 2 C BER Botanic

northbound R

• LIRR F U CROSS BAY Sterling St Beach

MUSEUM LAND

O VETERANS’

Bowling Green 4,5 Garden Whitehall St T J ama ica • R CH MEMORIAL

• 3 • U

• 3 2 5 S 67 St • • N Bergen St 2 4 5 CARROLL • G R S BRIDGE South Ferry T N ST 2 UNIO Plaza FLA

D T F A

• GARDENS H B a y R W H BROOKLYN

South Ferry There are many popular attractions around the square, like a large clock titled Metronome I Bergen St A Winthrop St CKS ST R Grand Army • 5 1 V PARK BOTANIC Prospect 2 Eastern Pkwy HENRY ST GARDEN • G Union St SLOPE BROOKLYN located on the south endF of Union Square featuring a fifteen digits Park clock. The seven leftmost K

Atlantic Av–Barclays Ctr Church Av • • • 5 I 9 ST N ELLIS y B Q S

r 2 HUGH G ISLAND r L. CA REY TU Carroll St NINTH ST BrooklynPROSPECT Museum GATEWAY NNEL S e RED A FIFTH Beverly Rd Beach 90 St digits show the clock displays the time in 24-hour format, the seventh rightmost NOSTdigits• 5 display F s PARK H NATIONAL u • R m HOOK • G • G 2 • Smith 7 Av W A S d me 9 StsF • G F RECREATION n r o F R Y n A Newkirk Av a ly • 5 AREA– l the time remaining in a 24-hour day and the center represents hundreds of a second,N and

4 Av–9 St V s Parkside Av D 2 I JAMAICA BAY AV D 15 St FLATBUSH Beach 98 St V LIBERTY n • G Q L e F ISLAND PROSPECT AV • B t GOVERNORS appears as a blur. Prospect Av V A S a t ISLAND A FL H S R ATBU C SH Flatbush Av A IDE AV S Brooklyn College E K Church• Q Av • 5 Beach 105 St B FLATLANDS Prospect Park R B 2 Y A • P A S A Beverley Rd W Some recent history is Andy Warhol’s third factoryFort thatHamilton was located atQ 860 Broadway.AV H In Rockaway Park A 25 St K F Beach 116 St C St. George O Pkwy R Cortelyou Rd O U • Q A•S R R F G BE N 1973 he found the curving wall of windows facing Union Square and EBroadway a perfect OSTR

T GREEN-WOOD R

H 1 D Tompkinsville Y C 5 O Newkirk Plaza FORD AV D WEST NEW W S • Q A CEMETERY N AN T B L BRIGHTON V E Y D E place to work. ‘It’s only three floors up,’ said Andy, ‘and everybodyM can see right in and know SNUG HARBOR Stapleton southbound N C O IS A ON PK Avenue H V N PORT CULTURAL CENTER T D C L O EAN PKWY A A E IL • G Q AC RICHMOND N N FLOYD H R RR M D ICH D TE SILVER F A MIDWOOD C MON if I’m here’. Andy Warhol made the window sill of 860 Broadway his favorite place to sit and Clifton 36 St A L A BENNETT LAKE D M H H V V OCEAN AV V MARINERS S51 V PARK A • • A A FIELD C T A D N R T V HARBOR S T A ROCKAWAY E R Church Av L OR I 39 ST E F B O read the newspapers. Avenue J B PARK R W F N CLOVE E FOX EST END LINE O LAKES D HILLS F B Q Y S WESTERLEIGH N ROSEBANK R A T PARK A 45 St I R MARINE PARKWAY- V G W A MARINE WAY V D H PRESS ERRAZ H N EX ANO-N R SUNSET 9 Av F T D GIL HODGES D ARR O G PARK CASTLETON N OWS Avenue I I A BR PARK N H MEMORIAL STATEN CORNERS LVD SL IDG Ditmas Av18 Av RY B I E JACOB VICTO F L Avenue M S EN D I A BRIDGE T Union Square lies over the 14th Street – Union Square subway station, served by theN 4 Q5 6 G A V RIIS T E N S Grasmere Pkwy Coney Is. bound I ISLAND 53 St NBOROUGH skips stops due Bay Pkwy K PARK

TODT L N Q R trains, that according to MTAR it is the second busiestD stopPARK during theF weekends. On U COLLEGE OF 9 to construction BULLS HILL Old Town Fort Hamilton 50 St AV AV HEAD R STATEN ISLAND I until 2017 Kings• Q Hwy C

H B M the weekends the square receives59 approximately St 350,000D daily visitors. Z O E V CHELSEA Dongan Hills 55 St AV NEW N 1 A SEA • 6 D N R S SPRINGVILLE Avenue N VIEW D S PARK A V T ON V STATEN HOSPITAL L F M B

ISLAND Jefferson Av Avenue P

MALL F Avenue U

Grant City N N N Q N 8 Av N A S51/81 y L N 18 Av 20 Av Kings Hwy a Y D Bay H Pkwy F w Bay Ridge Av 62 St N il Neck Rd SHEEPSHEAD New Dorp a Pkwy Y R Q R BAY W P d NEW X Fort Hamilton Manhattan bound n Sheepshead• Q Bay E a DORP l F New Utrecht Av E B Oakwood Heights Is N skips stops due BEACH O N R Avenue U LA TOURETTE 77 St D KingsHwy O S57 n U 71 St H e to construction F PARK t R S BAY RIDGE BENSONHURST R a T D T RICHMONDTOWN t until 2017 FRESH S ARDEN S VERRAZANO-NARROWS H Brighton Beach V E L KILLS HEIGHTS A W A • B D Bay Terrace T V B Q L R Avenue U Avenue X T A KIL D BRIGHTON RTHUR M GREAT BRIDG E P KILLS 86 ST 79 St 86 ST F BEACH 86 St N Y Great Kills PARK D A R Neptune Av W S54 X7 X 8 18 Av 86 St A D 25 Av F Ocean Pkwy K D N C D Q O Bay Ridge 20 Av R D R DYKER L 95 St Bay 50 St L I Eltingville BEACH Bay Pkwy BREEZY K R D R PARK POINT U West 8 St H Annadale T

R NY Aquarium A S55 WOODROW • ROSSVILLE D Coney Island F Q LV B Huguenot N LA Stillwell Av Y S55 X17 X1 9 H D•F•N•Q CHARLESTON Prince's Bay CONEY ISLAND S5 6 Pleasant Plains

Nassau Richmond Valley S78 TOTTENVILLE BEACH Atlantic S78 Tottenville S78

22 34 UNION SQUARE EAST CONFIDENTIALITY & DISCLAIMER

This Confidential Offering Memorandum has been prepared exclusively by Eastern Consolidated (“Eastern Consolidated”) on behalf of Ownership, the (“Owners”), regarding the purchase of the property described herein at 34 Union Square East, New York, New York (the “Property”). The materials and information contained in this Confidential Offering Memorandum do not purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All materials have been developed by Eastern Consolidated, the Owners and other sources and are subject to variation.

No representation is made by Eastern Consolidated or the Owners as to the accuracy or completeness of the information contained herein and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Eastern Consolidated and the Owners and their employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information.

Further, Eastern Consolidated, the Owners and their employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Confidential Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. The Confidential Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the Owners since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Confidential Offering Memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon request to interested and qualified investors.

The Owners and Eastern Consolidated each expressly reserve the right, in their sole discretion, to reject any and all expressions of interest or offers regarding the Property and/ or terminate discussions with any entity at any time with or without notice. The Owners shall have no legal commitment or obligation to any entity reviewing the Confidential Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owners and its legal counsel and any conditions to the Owners’ obligations thereunder have been satisfied or waived. Eastern Consolidated is not authorized to make any representations or agreements on behalf of the Owners.

This Confidential Offering Memorandum and its contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein called the “Contents”) are of a confidential nature. By accepting the Offering Memorandum, you agree (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, (iii) not to disclose the Confidential Offering Memorandum or any of its contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of the Owners or Eastern Consolidated, (iv) not to use the Confidential Offering Memorandum or any of its contents in any fashion or manner detrimental to the interest of the Owners or Eastern Consolidated, and (v) to return it to Eastern Consolidated immediately upon request of Eastern Consolidated or the Owners.

If you have no further interest in the Property, please return the Confidential Offering Memorandum forthwith.

No inspections of the Property are permitted unless accompanied by the Owners or a representative from Eastern Consolidated.

34 UNION SQUARE EAST 23 INVESTMENT SALES RETAIL LEASING CAPITAL ADVISORY

F. 212.499.7718 355 LEXINGTON AVENUE O. 212.499.7700 WWW.EASTERNCONSOLIDATED.COM NEW YORK, NY 10017