PUTNAM BUILDING PORTFOLIO FOR SALE BUSHWICK,

2 ST. NICHOLAS AVENUE 444 JEFFERSON STREET 427 TROUTMAN STREET

Confidential Offering Memorandum JEXECUTIVE SUMMARY

Cast Iron Real Estate Co. has been retained on an exclusive basis to represent the owner in the sale of three buildings in the heart of in Bushwick, Brooklyn. Located in the artistic community of Bushwick, the buildings are one block from the Jefferson Street stop on the L train. This portfolio consists of 2 St. Nicholas Avenue, 444 Jefferson and 427 Troutman Street.

2 St. Nicholas is a two story building with a lower level which is currently net leased to My Hub Studios who provide a wide variety of professional and custom built work spaces.

444 Jefferson and 427 Troutman are one story buildings and are owner-occupied. They are currently used for manufacturing and shipping. Both buildings will be delivered vacant at closing.

The neighborhood, once an industrial hub has undergone a renaissance in the last few years and has attracted a multitude of investors to the area as evidenced by the new residential and commercial developments. In addition, there is a thriving street art, gallery, restaurant, cafe and bar scene; Faro, Roberta’s, Sally Roots, Bunna Café and Ichiran to name a few

Easily accessed by the L, J, Z and M subway lines. Property Overview  Unique portfolio located in the heart of Bushwick, Brooklyn

 3 Buildings

 {±}27,250 Square Feet /{±}11,400 SF LL

 Office/Warehouse

 Two Corner Properties

 Air Rights (1,000 SF)

 Located in an Opportunity Zone which offers tax benefits

 Excellent access to transportation (Buildings are located near the L train at the Jefferson Street stop.)

THE INFORMATION CONTAINED HEREIN HAS EITHER BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OBTAINED FROM SOURCES THAT WE DEEM RELIABLE. WE HAVE NO REASON TO DOUBT THE ACCURACY BUT WE D O NOT GUARANTEE IT. ALL ZONING, BUILDABLE FOOTAGES AND USES MUST BE INDEPENDENTLY VERIFIED. VACANCY FACTORS USED HEREIN ARE AN ARBITRARY PERCENTAGE USED ONLY AS EXAMPLE. IT DOES NOT NECESSARILY RELATE TO ACTUAL VACANCY, IF ANY. THE VALUE OF THIS INVESTMENT IS DEPENDENT UPON THESE ESTIMATES AND ASSUMPTIONS MADE ABOVE, AS WELL AS THE INVESTMENT INCOME, THE TAX BRACKET, AND OTHER FACTORS WH ICH YOUR TAX ADVISOR AND/OR LEGAL COUNSEL SHOULD EVALUATE. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME AND ALL OTHER INFORMATION HEREIN. Property Description

2 St. Nicholas Ave 444 Jefferson Street 427 Troutman Street

Location Corner of St. Nicholas & Jefferson Between St. Nicholas & Wyckoff Corner of Troutman & St. Nicholas

3177/25 Block/Lot 3177/20 3177/15

Building Dimension 50’ x 90’ 100’ x 90’ 75’ x 115’

Lot Dimensions 90’ x 50’ 100’ x 100’ 75’ x 115’

Building SF 9,000 9,000 (1000 SF Air Rights) 9,250

Zoning District M1-1 M1-1 M1-1 Current Annual Expenses

2 St. Nicholas Avenue 444 Jefferson Street 427 Troutman Street (NNN) RE Taxes: $53,134 (2020) $36,548 (2020) $29,398 (2020) Tenant is responsible

Insurance $6,500 (est.) Tenant is responsible. $10,000 $13,000

Utilities $25,000 (est.) Tenant is responsible. $18,800 $20,400

Maintenance: $10,000 (est.) Tenant is responsible. $10,000 (estimated) $10,000 (estimated)

Total $94,634 $75,348 $72,798

Total Annual Expenses $242,780

THE INFORMATION CONTAINED HEREIN HAS EITHER BEEN GIVEN TO US BY THE OWNER OF THE PROPERTY OR OBTAINED FROM SOURCES THAT WE DEEM RELIABLE. WE HAVE NO REASON TO DOUBT THE ACCURACY BUT WE D O NOT GUARANTEE IT. ALL ZONING, BUILDABLE FOOTAGES AND USES MUST BE INDEPENDENTLY VERIFIED. VACANCY FACTORS USED HEREIN ARE AN ARBITRARY PERCENTAGE USED ONLY AS EXAMPLE. IT DOES NOT NECESSARILY RELATE TO ACTUAL VACANCY, IF ANY. THE VALUE OF THIS INVESTMENT IS DEPENDENT UPON THESE ESTIMATES AND ASSUMPTIONS MADE ABOVE, AS WELL AS THE INVESTMENT INCOME, THE TAX BRACKET, AND OTHER FACTORS WH ICH YOUR TAX ADVISOR AND/OR LEGAL COUNSEL SHOULD EVALUATE. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME AND ALL OTHER INFORMATION HEREIN. Location Overview

 HEART OF BUSHWICK

 RESTAURANT HOT SPOT MICHELIN RATED RESTAURANT FARO ZAGAT RATED RESTAURANT Roberta’s

 BUSHWICK COLLECTIVE— EXTRAORDINARY OPEN-AIR GALLERY

 VIBRANT TOURIST DESTINATION

 NIGHTLIFE HOT SPOT House of Yes Brooklyn Mirage

 EXCELLENT TRANSPORTATION JEFFERSON STREET STATION Comparative Sale Analysis

1274 Flushing Ave 1300 Flushing Ave Bushwick, Brooklyn Bushwick, Brooklyn Sold: 11/26/2019 Sold: 6/12/2020 Building SF: 20,880 Building SF: 83,725 Industrial Building Office Building $12,350,000/$591 PSF $44,000,000/$526 PSF

Recent Developments

45 Irving Ave 1224 Flushing Ave Bushwick Bushwick Building SF: 17,700 Buiding SF: 20,000 Retail Retail Asking $70 PSF Asking $65 PSF BUILDING LOT PLANS

2 St. Nicholas Avenue 444 Jefferson Street 427 Troutman Street Bushwick Portfolio Opportunity Asking Price: Furnished Upon Request

For further information or inspection, Please contact Exclusive Agents:

David Barreto Beth Chase Kim Skarvelis Director Associate Broker Associate Broker 917-673-5330 917-532-6293 917-373-6417 [email protected] [email protected] [email protected]