224 Fifth Avenue

New York, NY TABLE OF CONTENTS

EXECUTIVE SUMMARY

RENDERINGS

PROPERTY IMPROVEMENTS FLOOR PLANS MARKET OVERVIEW ZONING

NEIGHBORHOOD INFORMATION 224 Fi F th A ve nue EXECUTIVE SUMMARY

1 EXECUTIVE SUMMARY 2 ANG INVESTMENT GROUP is an for the and and in sought be ideal offers Avenue reinforced asset) prominent façade façade a would most are approval neighborhood area Situated Fifth and . rights the . 4) that air Avenue the Avenue Avenue of 224 of acquire masonry park Landmarks . x.) x.) South contributing to Streets. to steel ro ro Class - one Fifth Fifth the commercial of stone Utilization District, the 27th 27th * subject of (non (Tax (Tax (Approx.) (App (App (Approx.) (Approx.) (Approx.) (Approx.) (Approx.) amenities within Midtown side and 6) businesses and and of - scale 2 of views elevators, opportunity North and Flatiron west 26th 26th PARK that array SQUARE building granite MADISON the the two 86’(Flrs 86’(Flrs a Equivalent) Equivalent) districts residential - Square on as stunning FIFTH AVE SF cellar SF 39 residents sub (R10 100', 100',

100’ 28’ windows / x x 2 outstanding - plus AVENUE $1,017,720 $107,614 features concrete, vast deliver bustling known unparalleled both an commercial after 28' 28' 2,800 6 15,949 18,357 C5 28,000* 14,483* 33,200* Madison Located betweenWest 828 28’ 100’ ST 39 100’ ST : - TH of TH Ft.: Ft.: last The ’ and Lot 26 Size Size 27 Size: Size:

Area 28 ories ories BSF: / . Park) block t multi 28 oning: oning: ’ cellar): Sq. S Rights: (16/17): a the dubbed Z (16/17) District: District: Lot building between ootprint: Location Max Park F Air WEST (inc. WEST Block half century building over Taxes Building itself, Square Rentable SF retail th features Historic just Buildable located Square 19 FIFTH exceptional story - Net Unused Unused - d onto what, Approved Total Total Assessment Assessment 6 is and and an mid Total Total in the District , Madison OCK 828 L built Madison identity B office of 1980 Streets Avenue an Previously Previously property incredible in Flatiron th 224 224 an 27 coveted Fifth foot Originally (North . created altered and the commercial along Avenue, has th square Manhattan’s 26 from “NoMad” Fifth 949 years, , 15 the neighborhood significantly 15 West frontage tenanted within north 224 EXECUTIVE SUMMARY 3 224 FIFTH AVENUE virtue expired, plans in several $ terraces. wholesale a structure District residential corporate an entering advertising, specifically Additionally including building existing Preservation Planners submitted non North While 2 mixed VIEW the , 200 ideal - contributing and the of immediate Historic recent - strongly A L F to G N I D L I U B structure use could opportunity Average Average the LPC of and LLP mechanical the property showroom, resurgence by , WEST well within retail N O R I T approximately Midtown headquarters media Commission having the developing Certificate new were District, be Beyer supports over Madison condo condo & and renewed influx 224 asset developments the lies residential approved set deductions to or and seen $ South Blinder build it 3 within TAMI a utilize sellouts sellouts a , of has 000 boutique of demolishing precedent hotel . Square (LPC) and throughout information Appropriateness, in ~ a office commercial been 33 sector a the Furthermore, 20 per . Belle by building, the , timely 203 and in - range to FIFTH Park and story Madison the square condominiums, classified market property . demolish 2007 Architects square private (technology, conversions the the area Landmarks N O S I D A M manner residential from U Q S a services), P retail tenants, existing Flatiron . creates foot Square K R A These plans while as E R A feet, as the the by or in & a a A FIFTH 224 VE unrivaled stunning residents coveted Situated desirable The demand past Fifth foot achieving the activity equaled for for has The market continued NUE AVENUE the been location residential Midtown two recent and Avenue . remained foreseeable $ adjacent years across Flatiron neighborhood retail aspects 67 exceptional alike sell growth views, . performance 47 have of - out South to rents per condominium will the all $ robust to of prices risen District, within 240 square excellent asset benefit property future Madison this in and office per a amenities the above in the staggering within investment is . classes foot square Q tenants, immediate Average projected tremendously 3 Midtown space Square is market accessibility, 2016 and $ one 2 . the , foot bodes 200 . overall 60 Furthermore, (all local users of asking Park opportunity . is to South % area per The the regularly continue over Classes) well in leasing market square strong along most rents from sub and and the the for . - EXECUTIVE SUMMARY 4 ANG INVESTMENT GROUP . a a a by air are incl and add with . with Fifth and and for acre acre wide $350 $350 hotels, . above across across stream, a Station, square square to density location, 6.2 (not desirable value. boutique LLP - include residential well PATH unused Lower building Avenue implement above above tenants Penn strategies low add building ideal South & foot hotel creating creating retailers, designed that of ability most a to restaurants rentable execute revenue . exit Fifth loft and a and lines, or Jersey sellouts to Planners 1980 the retail landscaped including . 212 other quality available & square nexus 2,827 plans Park. in in offers . ability bus - Midtown of while . at residential Avenue New retail rents rents retail asset amenities use of ability the - S the was was renowned and have from convenience with the - one foot 2,600 the Fifth achieving and and modernize at purchaser Square T visions, the commercial rentable zoning has Manhattan bonuses market, beautifully a of to and and that strategies center headquarters Architects mixed in world from foot foot to approved . 10 West net the subway conversions Lower a square R income the of offers Park. rights of allows luxury Madison potential in on Belle Station 949 parks neighborhood Broadway, . , tenanted 200 positioned the air LPC potential , - square square districts versatility ranging purchaser Square 15 foot. place discount and corporate - from properties opportunity 33 investment multiple views Square of and zoning major renovation renovation major a a in per per the residential multi plus of clauses located options, Blinder Central collection planned at frontage plates story, to last last - square street story, of 6 - Madison ’ potential $2,300 $2,300 per Extraordinary large dining museums Unparalleledaccesstoavarietyofpublictransportation, including Grand Flexible variety condominiums, project, Previously Beyer 20 Assemblage adjacent rights inclusionary Due a variety Strategically Avenue commercial Nearby 10 A cellar), 28 Ideally the The immense Floor feet. Stunning Madison Strong demo albeit being HIGHLIGH EXECUTIVE SUMMARY 5 224 FIFTH AVENUE again extended the replaced becoming area’s being and 224 TENANCY area’s Fifth dwelling in redeveloped dwellings 1981 with Avenue at converted more - the 1982 in a 1882 rear new were . was commercial with when and commercial 19 built being th OVERVIEW first was century the as - converted partially a yet, primarily class masonry front, houses its hotels occupied upper designed to residential dwelling were commercial and floors being by clubs, by in the manufacturing became blocks given the as architectural space mid well surrounding new - offices 19 on as th commercial their theaters century, lofts and firm lower . An Madison Berg and its before entirely façades floors original & restaurants, Clark, Square being . . new In In residential at 1928 1893 converted façade a Park time , , and the as were when was the building many façade to gradually area installed many a of store was was was the of EXECUTIVE SUMMARY 6 ANG INVESTMENT GROUP EXECUTIVE SUMMARY 7 224 FIFTH AVENUE EXECUTIVE SUMMARY 8 ANG INVESTMENT GROUP EXECUTIVE SUMMARY 10 ANG INVESTMENT GROUP ENDERING R ROPOSED P 11 EXECUTIVE SUMMARY 224 FIFTH AVENUE P D E S O P O R E T S A E N O I T A V E L EXECUTIVE SUMMARY 12 ANG INVESTMENT GROUP ARK P

TO T H E IEWS V 13 EXECUTIVE SUMMARY 224 FIFTH AVENUE EXECUTIVE SUMMARY

14 ANG INVESTMENT GROUP , , a th as the was roof firm 19 have were 1893 1928 again floors It well In In above . replaced . . primarily occupied gradually as challenging century, upper stories granite the was floors installed th were converted dwellings offices 39 its façades 19 centuries architectural clubs, - partially as was Lot Park upper when lower yet, mid façade the area’s area’s was and stepped, 828, the by the their Determined Determined 1882 the the façade ; ; Square and alteration Offices in twentieth occupied commercial neighborhood’s on in of of Not hotels Block 82 new - and rear commercial the residential and new now Determined space Map designed many 1981 is many class the Madison storefront - dwelling c. c. Not Store None 6 Granite fenestration dwelling more at Tax Tax given entirely and first reflects original front, when : : alteration. An glass and Avenue . 82 nineteenth its - being with masonry framed time commercial - and r: r: a lofts . surrounding extended Fifth a store becoming late to and Manhattan building were c.1981 as a at Avenue of restaurants, metal store Owne 224 was commercial the Construction was . : metal to this Alterations blocks s built of BROADWAY in Fifth : offices and houses Clark, floor of new 1982 area - orie redeveloped - converted t since the the since & SIGNIFICANCE a 901 Borough Date Architect: Original Type Style: S Structure/Materials: 224 story, building - manufacturing the 1981 Description Two rectangular, parapet Significant None residential being theaters being as became with Berg century the by in ground Originally history fortunes converted

AVENUE

HOUSE BROADWAY FIFTH ARCHITECTURAL GILSEY 1200 256 EXECUTIVE SUMMARY 15 224 FIFTH AVENUE Typical Net Gross Number Number Building Year GENERAL Pedestrian Windows Roof Exterior Floors Ceiling Framing Foundation Basic CONSTRUCTION Rentable Rentable Built: Cover Construction Building Area Area Building Height Floor Walls Class of of of P DISCRIPTION Doors Buildings Buildings Stories Plate Area Area R DETAIL OPERTY Stone masonry Structural steel main The Thermal Built The Steel and Ceiling square The 15,949 13,517 6 1 Class 1980 Structural main exterior the building up Entrance reinforced B B Sq. and Sq. feet heights 3rd assembles Windows facade entrance Ft. masonry Ft. steel on floor facade has Per Per for floors are and I with concrete Assessor floor has Rent the in for approximately with MPROVMENTS of reinformed masonry aluminum 2 a retail the plates the through Roll slightly galvanized floors. office building / space that Leases and higher frames 6 concrete space range 12 has concret consist rubber feet. . ceiling two has from with with The glass encasment one of membrane height. 2,600 masonry 2nd glass doors floor rentable door . in has aluminum in a an square slightly aluminum frames. feet lower to frame. 2,827 ceiling The rentable height height EXECUTIVE SUMMARY 16 ANG INVESTMENT GROUP to th 6 in in the the the its its funtional funtional via via was was for dedicated compliance through properties . . boiler in features floor. throughout throughout provided control lines The elevator and is is other each of use piping one basement on building power i . . the iron iron also The typcial basement. is temperautre existing floor condioning is women voltage the floor. fixtures has Air the first in services and There and and cast low . doors. for Avenue system light each the access. lofts. that 2010. 2010. men tenant of in in and Fifth location metal for copper pounds card side on floor/ adequate plumbing key 500 throughout elevator , rated the steel, steel, boiler 1 - be commercial at Each incandescent The of basement to fire located restrooms fired PVC, PVC, - was installed installed was requires are the roof. small of obtained gas codes. passenger is of located and and lobby a the capacity is assumed mextureof a one by on adequate one a is elevator services stairwell sprinklered has building building Burham Burham the the that building combination fully heated by located system to and the a features is is comtains is contains contains and the representative for law elevator tenant of units with doors The plates local building . building building core building property plumbing building building area area retail Good None The The floor Interior The The None None None The with the building. Electricity None The floor the The The The manufactured package space. DETAILS Power DETAILS Service Service Service Landscaping ooms IMPROVEMENTS r Protection t out s y ondition e a Other C Parking SITE Parking Onsite Lighting R L Doors Security INTERIOR Lobby Fire Emergency Elevator Electrical Plumbing MECHANICAL HVAC 17 EXECUTIVE SUMMARY 224 FIFTH AVENUE FLOOR FIRST CELLAR FLOOR PLANS EXECUTIVE SUMMARY 18 ANG INVESTMENT GROUP PLANS FLOOR FLOOR

THIRD

SECOND FLOOR EXECUTIVE SUMMARY 19 224 FIFTH AVENUE FLOOR FOURTH FIFTH FLOOR FLOOR PLANS EXECUTIVE SUMMARY ANG INVESTMENT GROUP 20 827 827 827 827 9,158 6,750 are are 2,827 2,623 2, 2,408 2, 2, 2, 1 1 RENTABLE SF SQUARE FEET Leasable ON ON OR % % % % - T 0% 0% C 38 38 38 38% 38 and A F ADD Factor on - Add 2,623 2,047 2,047 2,047 2,047 2,047 2,408 12,857 15,265 USEABLE SQUARE FEET floors. verified. upper OR T the C 7% LOSS 14% 15% 15% 15% 15% 15% A F on FOOTAGE independently be footage should ,640 7 square 2,800 2,800 2,408 2,408 2,408 2,408 2,408 1 GROSS 14,840 and SUMMARY SQUARE FEET gross the SF of estimated are 15% be SQUARE 17,640 to footages All GRADE) Area: Area: FLOOR CELLAR) estimated is leases. SF Floor (ABOVE (INCL. Floor Gross SIXTH Floor Floor Floor Floor

tenants

Useable TOTAL TOTAL Sixth Fifth Fourth Third Second First Cellar

FLOOR Total Total per * 224 Fifth Ave MARKET OVERVIEW

21 MARKET OVERVIEW ANG INVESTMENT GROUP 22 - in % to 05 95 by to . the the 51 - and feet This past year AOL took their third rapid Class at other other . 88 driven to Street, signed $ a % , for year of vacancy the rents 7 SOUTH the . SF one rd at at economic illustrated 6 space continued driven during of square most Due in area’s 23 2016 added 9.1% preferences, is 3Q16 5.3% 4.9% 3Q16 (technology, attributed 12.5M experiencing . $73.71 leases $70.29 $88.05 Over % bringing 2.0M % was . 4,300,000 7 SF asking since drive Facebook overall 000 myriad of . 52 office The , nation YTD 6 This Additionally a stable . around West MIDTOWN to . . 75 accounted South for to 000 feet continued PSF , space at the South, tenants PSF 50 companies City primarily by locational record lowest leasing 55 in throughout 24 notably is signed modern at 29 . BPS flat . remain market which 3 outperformed - and office the $ However, York square TAMI and continue 70 for market Midtown . 40 well to . - $ Avenue feet South M 02 sub has fashion . for 4M achieve 7 9% market leases . . 1 had accounting 000 of . New The and sub 3Q15 5.2% 5.2% , 2 6 7 3Q15 $73.71 8 vacancy $79.47 expanding to recently, $ larger the Park Street which of . in and 4,200,000 Classes) remaining product in has location climbed MANHATTAN market 993 th demand SOUTH high report square submarket, major market in and South 225 increased extremely 19 South Midtown feet feet demand (All enter activity signed prior with 270 years SF of , Office rates MARKET , sectors, office shift to and Manhattan landlords rate market office its 31 City Broadway, increase - West services) Square 000 2016 fueled square 11 square , date historical 2016 were - Midtown seven sub Midtown retail expensive 770 a rental 10 at York major from to of desire performed - in South majority that 000 notable at leased at allowed , the that the vacancy unprecedented Quarter and a past Broadway million most Downtown New only in year minuscule The by 580 has 9 deal asking . Third market . robust as the space activity information market quarter 3 770 the been the growth South footprint a leases The overall quarter rd Midtown of total . the Madison/Union at Dropbox 3 such and driven Rents over Overall has MIDTOWN (GROSS) and almost Activity supply priced now , office district residential on – (SF) . overall - . The been the office the 2016 large third feet is to and . Wakefield’s shown in Rent the & the South’s (SF) its 2016 of expansion City area Midtown there high Employment Unemployment Asking has South’s majority the media, in a of of country quarter placed of Indicators interest have the OFFICE employment and available South’s City City square York Avenue several market the and Asking rd in in SF Indicators years, the activity Cushman building, 3 tripling quarter Construction areas throughout A Average occupancy new ending Midtown York York neighborhoods 000 in signed 3 New Unemployment growth , . 000 Midtown strong Classes lease the the , office surge Source: All Class 3Q16 U.S. New New Economic Under Average Vacancy Net Absorption Market Madison submarkets the activity quarter, first 78 Midtown ago, A PSF in nearly 240 total also to date industries through strong of advertising, rate shrinking most a pace in popularity by several with The 23 MARKET OVERVIEW 224 FIFTH AVENUE Sketchers, that foot square asking has Avenue growth are recession the by 5 Avenue Fall achieve most Fifth RETAIL FIFTH MIDTOWN MIDTOWN Available Average HERALD % FLATIRON strong to emerged West West Broadway: Fifth Broadway Fifth Fifth East turning New 2016 have according Avenue $ coveted foot rents 1 and and between, record , 57th Ave: Ave: Ave: York 259 Retail 34th 34th Asking levels established Paragon Ground Ground consumer SQUARE and to Broadway future has as per St: 14th 49th 42nd along & City St: 14th alternative AVENUE . SOUTH Report to asking range a retail Seventh As Fifth Fifth Rent: Rent: long square Fifth Fifth haven 42 the St Floor Floor opportunity St retail Sports, - St rents th 23rd both - - from demand Ave - locations report between 23rd been rents Selected Selected average corridor Ave 59th and 49th for Space foot Ave: market St locations continue - Hastens, corridors - $ St CORRIDOR . Park luxury St 49 considered Seventh 300 . St According 42nd year Prominent . th Only and asking 14 The in Major Retail Major Ave has and to Streets, th - retailers over this St $ True to that record portion and 480 surpassed Ave are - continues rents rise, - 47th area year Manhattan’s to 23 Religion, offer companies per $ increased . 390 rd REBNY’s Average tourism, retailers . on St of include Corridors square Driven Street more Fifth Fifth pre per $3,484 $1,438 $2,170 $1,259 to 2016 F $390 $390 - $745 ALL at the Brooks Steve Fifth opportunity major Broadway Avenue global the per of (aka acquired and driven sees the Eataly, asset SPRING $1,368 $1,625 south $3,398 $2,363 The square 10 Avenue 2016 perhaps $890 $447 $385 Madden, retailer thoroughfares, by intersection Brothers, and Madison Lego the as tenants for across and Broadway the foot to retail retail $1,600 $1,2 $2,390 due $3,397 nearly the Store Blue F 2015 Fifth capitalize $836 $ $510 flagship . ALL Square Geox, 3 such from to Savanna 94 0 corridor highest condominium 3 of . Mercury, its Avenue . Furthermore, $ 224 With as Broadway 60 Design prime SPRING Madison West), % Manhattan Eataly, , on 000 CHANGE CHANGE in Fifth FROM FROM - similar has 12% volume - - - 16% 13% - 1% 8% Midtown the at 8% 3% Scotch location , Within 000 just 2016 the been Avenue Johnston Square rapidly and at exposure in one store or nexus of 1107 & Reach 2014 between South Fifth repositioning % over Soda, FALL foot block Park, is CHANGE CHANGE expanding for FROM FROM Broadway - - & 23% 10% - - of 11% an Savanna . - 9% 3% 5% . on 1% Murphy Avenue $ a Just 2015 traffic, Fresh, 2 these north large retail ideal both Fifth , 700 to MARKET OVERVIEW ANG INVESTMENT GROUP 24

PARK AVE S PARK AVE S ST ST ST ST ST ST ST ST ST ST ST ST ST ST ST ST ST ST ARE U 21ST 31ST 17TH 18TH 19TH 29TH 24TH UNION 27TH 25TH 30TH 20TH 26TH 22ND 32ND 28TH 33RD SQ E E E E E E E 34TH E E E E E E E E E 23RD E E E

MADISON AVE TIRON A BUILDING FL PARK SQUARE MADISON FIFTH AVE FIFTH AVE

BLDG

STATE

24

VENUE

2 A FIFTH EMPIRE 25 MARKET OVERVIEW 224 FIFTH AVENUE for the a to foot to over Leonard Park with significantly 12 year months and active inventory last Quarter slowly their fueled Quarter several have decrease year last with have Corcoran According has The CONDOMINIUM MANHATTAN the % notable $ $ high growing 4 2 year several past - undergone from inventory ago drop reached residences, residential year , . prices Avenue premium year 472 407 experienced recent listings began - had . kept end quarters, 2016 and in /SF several This M was - Report, last to influx in over was . to quarters remaining Tribeca just Additionally, . list closed year residences $ . 25 months in The . a quarter’s in 3 year sales - Multiple closings increase, pricing the % . year Despite of record a up 350 of Midtown, over while resale - condominium years over the from remarkable . Midtown amenities new . although waves New sales, M, . 3 year figures Median price Although rd 500 - of Manhattan several year, near and properties were last high figure driven large residential near - over closings this Quarter supply development over the the closed and growth of average quarter South have record as in rising Madison price in - average largest additional of quarter’s new the sales year, resurgence closings by the multiple 30 there market closings, 4 down sales, . market closed . over submarket 2016 4 an summer . area New developments in 15 developments Park was highs New price months however, slowed segment % was the intense Square price compared . the down pricing year drop developments developments developments up over in issue Place a development continued notably set 3 a was . since majority rd last per Manhattan 63 - year The was over 14 Park has in over % demand the to in Quarter, up to and was of % square twelve - 2009 down feel over - year Third Third sales from seen over year 29 to that 968 and 432 The last the up 56 to of % a a - - . MARKET Q4 Q4 Q3 Q4 All Q4 Q4 Q3 Q4 Luxury Q4 Q4 Q3 Q4 Manhattan Change Change Change Change Change Change 2016 2016 2016 2015 2016 2016 2015 2016 2016 2015 2016 2016 Luxury New New AVG. AVG. AVG. $4.407m $4.250m $4.407m $6.770m $7.605m $7.764m $7.764m - $3.419m $1.964M $2.015M $1.964M $1.738M Market Wide 29% 15% 13% - 4% 2% Development 3% SALE SALE SALE Sales $ $ $ Sales MEDIAN MEDIAN MEDIAN $2.050m $2.560m $5.500M $3.350m $3.350m $5.651m $1.100M $6.119m $6.119m $1.100K $1.100K $999K 63% 10% 31% 11% 0% 8% Sales $ $ $ AVG. AVG. AVG. $2,444 $2,856 $2,472 $2,565 $2,472 $2,778 $2,778 $1,833 $2,155 $1,774 $1,774 $1,611 10% - 17% 15% - - 4% 3% 3% PPSF PPSF PPSF MARKET OVERVIEW ANG INVESTMENT GROUP 26 Y C

Mansion LEXINGTON AVE Street PARK ST ST ST ST ST ST ST ST ST GRAMER Grand 26th 31ST 28TH 29TH 27TH 25TH 26TH 24TH 30TH West The 23RD E East East E E - E E E E E E 21 - Park PARK AVE S Square Avenue Avenue Avenue ST ST ST Avenue 21ST Madison Whitman Whitman 20TH Fifth 22ND Fifth Fifth E Madison E E 5 5 212 The The 10 241 225 One MADISON AVE 1 2 3 4 5 6 1 PARK SQUARE MADISON 4 FIFTH AVE 3 6 2 for new asset notable of of . demand performance RESIDENTIAL influx several the variety ST an District are ST ST ST reliable by a seen 24 are 21ST 21ST 23RD 23RD Below Flatiron 20TH 22ND 22ND VENUE W . 2 has driven A FIFTH W W W across that the

in AVE OFTHE AMERICAS South mainly

residences ST ST ST ST ST ST ST

31ST 31ST benchmarks classes, luxury developments Midtown developments DEVELOPMENTS RECENT FLATIRON 28TH 28TH 29TH 29TH 27TH ST 27TH 25TH 25TH 30TH 26TH 26TH 24TH 24TH W W W W W W W W 27 MARKET OVERVIEW 224 FIFTH AVENUE 2 1 DEVELOPMENTS RECENT FLATIRON RESIDENTIAL RESIDENTIAL with building to building The Developer 21 THE Average Average Average luxury nearly playroom, hot some finishes windows, into and Building, by and conversion 10 Developer 10 Average fashionable neighborhood, away bathrooms, Miele and Each one Madison William Madison Whitman 125 Fifth tub, brick EAST EAST spectacular appliances, three MADISON MADISON and residence from of residences sold . one located The has Penthouse Penthouse Sellout Sellout which and yoga Avenue WHITMAN panoramic Sub façade and located full - Van Flatiron, and out, and Square Square to building been is - is zero courtyard floor which a five studio, include is Alen vibrant on evidence . PPSF: . PPSF: well 26 luxury, 6 including in Creston The outfitted The David The , on completely 250 - the appliances, bedroom the Sellout Sellout Park views, the 5 West of known the boasts TH , now original 000 building north Witkoff $2,242 $2,598 spa, area a downtown square pre New . buildings Mitchell garden northeast fitness ST of Originally SQ. smart - is stands and . square Arclinea with war, PPSF: locker side the a for residences, York’s a structure renovated long oak - foot Group was high . boutique new center, its ultra incredible of Today, home WEST as residential $5,295 biggest corner foot floors, 26 rooms, - menu stunning legendary recently duplex end custom built - Manhattan’s luxury th luxurious was residences a Street with the system luxury and condominium of Italian 60 of in asset demand a built 24 penthouse building enclaves ’ residential converted amenities, expansive limestone cabinetry, 1924 children’s furnished lap th adjacent Chrysler . finishes interior marble in Street is Steps , pool, most 1915 and the the for . is . MARKET OVERVIEW ANG INVESTMENT GROUP 28 - in 20 the the 20 000 new roof . , by Grand a in a shortly prewar interior ground ranging 023 average 275 , bedroom the 2 overlooks This Today, - Group, an $ the residences, the . and . , prices units of at four historic and porters, located original . original while , designed 2013 North finishes Shuster the 389 the raised preserved , premier . of The achieving 1907 2 has M located garden $ . : in of residential spacious exterior, luxury out, blend - transactions concierge, Square area’s spring retail 46 to to PPSF condominium interior in promptly converted built sold of 305 316 the conversion , MANSION , Homes Properties 2 2 closed apartments SF use modern $ $ of architecture, - was limestone AVE : : subsidiary The since Madison on AVE doorman, began . Sellout features Homes a end 000 one ELAD Victor , - and renovated has ODA of 5 luxury mixed PPSF PPSF foot Properties Park is landscaped hour sales apartments USA, high - sf, and 192 Victor building Fifth brick with with 24 and Pre residence a GRAND . ELAD 000 square with district Sellout Penthouse Sellout red 241 into Square , FIFTH , FIFTH . Madison story Homes studio 75 - gym, per level launch, restored eloper 13 v 2006 e was detailing Grand featuring deck, Average Average from apartments, floor after percent price Average 225 THE Developer In Madison SF Madison beautiful 241 D Victor conjunction story, Historic boutique

RESIDENTIAL

DEVELOPMENTS RECENT FLATIRON 3 4 29 MARKET OVERVIEW 224 FIFTH AVENUE 5 6 DEVELOPMENTS RECENT FLATIRON RESIDENTIAL RESIDENTIAL offering together unparalleled river oasis Avenue, and dynamic One D ONE Penthouse Penthouse 23 33 parking room equipment and adjoining cold include contemporary residential in plates, the Originally two, scraper 212 D 212 Average atmosphere attention e e turn v v In Contract Contract In Active architects eloper eloper Fifth - separate Madison three Chelsea to storage of with : - created high . FIFTH river an Lobby newly Madison One to Sellout neighborhoods to Listings Listings yoga Avenue . and MADISON constructed on elevated catering floor form Residents ceilings of . aesthetic . views sits game amenities Madison Market Market Fitness design Rising designed intimacy Sales Sales four a with converted studio One PPSF foundation plans at Square Average Average HFZ HFZ The Land Equities, Thor is . bedroom level kitchen, the and The room, Average Average AVENUE 24 Club, fused an $68,500,000 from lounge, integrity, : center and Related with also $ to Capital as nexus hour Equities, the 3 Technology of oversized iconic property’s – and , Park, urban 712 a to PPSF: both personal into Flatiron, a the treatment for private overlooks and and screening structure the condominium PPSF: adjoining by doorman, manufacturing of forty PARK One attentive and one dramatic, beginning neo Group Companies, living with New The best Building $3,683 $3,683 Madison Madison windows . ($6,796/SF) $3,180 - residents luxurious service Madison Building offers Gramercy, Gothic eight . Wright age York room with of room the dining/meeting concierge light pre staff and and . appropriate of spectacular exceptional . City’s residences lush open With early which - Playroom amenities brings and - only Fit, building, war services, Madison flooded NoMad green come great most valet floor with club sky and and has an - . MARKET OVERVIEW 30 ANG INVESTMENT GROUP PARK MADISON ONE MARKET OVERVIEW 31 224 FIFTH AVENUE ZONING 224 F H T F I A E U N E V C5 - 2 MARKET OVERVIEW ANG INVESTMENT GROUP 32 2 building – FAR 5 10 C commercial 5 – 1 1 C5 20% 20% R10 3 it it 15.0 10.0 a a – up to up building building provided is C5 of of from from from building provided FAR 10’ 10’ 15’ area area plaza plaza street increased increased 18 penetrate and and least least plane plane Floor Floor can public public base base plane sky sky can be be can if narrow commercial street street a back at at back Tower Tower maximum maximum exposure exposure wide wide within within height of height is set set is 85’ 85’ exposure sky sky 2A – 10.0 10.0 R10A C5 4 – 1 1 C5 R10 2 10.0 10.0 – 3 – C5 5 24 C VENUE Districts 2 A FIFTH . . - . 1 5 0 - . by be C 5 4 TA C may with Fifth non 1A other entire easily Island signs, – street 4.0 10.0 - R10A in C5 In may as districts frontage districts business from Housing area off the and . is 5 residential typical Commercial 5 C Long C — occupied and C5 C5 A in uses buildings are retail such 2 from allowed Floor serve - ranges are and 5 . illuminated 0 C . 1 1 shops – that also 4.0 mixed 10 R10 regulations floors, 10.0 C5 facility Inclusionary bonus building is and (FAR) is streets, Street A exempt permitted or a and A establishments transportation continuous (retail 10 Brooklyn 1 th including are - R Program FAR are ratio 5 10 57 tower C plaza with by rental — plaza commercial public and Housing Housing area community districts, shopping East buildings, 9 district, establishments or . 5 , public auto - districts public 6 Downtown a a 5 district floor residential the and districts 5 C Equivalent residential for for C office Inclusionary Inclusionary retail 5 and/or for office governed 2 A because manufacturing) C Famous 20% 20% districts FAR in . with with with District FAR 5 . and services, (hotels), C large are FAR FAR Avenue in in bonus 5 through above . tower maximum uses Manhattan, a commercial bonus up to to up bonus commercial (custom 2 a region Commercial Residential Residential - 11 residential by offices within 5 FAR FAR Increase the stores, 1 2 character contextual as C space density Groups . for in and Lower Madison requirements also and central . permitted two , maintenance of a and 0 Use not . are maximum . commercial not is increased 15 the 5 accessible All parking districts configured contextual commercial, bulk In to be The are uses services) Home uses Department residential City Parts metropolitan Avenue, intended C 224 Fifth Ave NEIGHBORHOOD INFORMATION

33 NEIGHBORHOOD INFORMATION ANG INVESTMENT GROUP 34 its full the with have a drawn of history, provide Since desirable that . and area, . companies, one rich that entertainment the year most of residents, into of and the the events Manhattan creative attractions sculptures of in blend for point a retail, wealthy food evolved one look cultural and focal and historic has throughout first and the business, District a area is music, experience neighborhoods now vitality to the art, restaurants is park vibrant Flatiron landscaping, of It amenities, . area the new the most the DISTRICT Today, beautiful schedule tremendous resurgence, city’s districts trendy to premium made live/work/play . . of as The iron from most most Park Grand Tower, Square decade, heart received known The name city’s City’s the past Clock clothes that Square its including in transformation and the South Madison the York iron of - gets by West, major New Over Madison located cast a Company . structures area Midtown of some of buildings, a of Square by The one anchored Avenue ” . centrally is landmark Insurance is FLATIRON district experienced Fifth significant resembling Madison revitalization Life District Building, sub iconic has 10 225 surrounded a for Avenue the at in and and neighborhood Fifth Flatiron “Flatiron district city name Madison, the following architecturally Metropolitan 11 Mansion its The Park, the the unique 224 the 35 NEIGHBORHOOD INFORMATION 224 FIFTH AVENUE Metropolitan in capital Conservancy precursor the City project, In become streets ages gardens, Manhattan’s Madison MADISON June private Campaign . Parks Located renovations and Madison an 2001 lush Square organization funds Foundation oasis Fifth . Life , Flatiron The for lawns on after for and Square Insurance the from 6 Park to campaign . 2 those a Madison and New the acres District two to took corporate is SQUARE Park park, who cultural the Madison - Company, year between the the Avenues, raised was Madison including live offering lead capital vibrant leaders, programs and rededicated Square $ 23 New in 6 work the Square rd $ restoration million organizing flourishing 2 center and . Park, York park 5 such nearby million for PARK . FIFTH A 2 26 Park Life The has the VENUE for all as of th . 24 paving, contemporary style colorful life make design restored of 2002 support additional The Management, Insurance many . Madison The , benches, the a by and restored children flowering maintenance elements restored park Company, Ignatz $ 4 ornamental Square million and once reflecting a in playground Pilat spectacularly of the park shrubs Union Credit again Park the for neighborhood of and lighting features park’s a the pool, Conservancy Square a and Suisse William permanent center reopened park . plants, original new restored First Hospitality lush . Grant, of In . gateways, The neighborhood Boston, the to green has World’s fund 19 fountain, the renovation helping th spring raised - to century delight Group lawns, Rudin - Fair help new an to of a - . NEIGHBORHOOD INFORMATION ANG INVESTMENT GROUP 36 the and and area such large years in of the including to media, firms recent tenants Advertising number and over . veteran companies, Grey transplants of Suisse advertising, top growing tenants a Wang, companies ranks Recent new Credit York’s . with Vera the of and New fashion (technology, of along Life influx services) . joining from Co York many & sector Porcelanosa, firms, largest been New The has TAMI information include Sony, Tiffany tech as DISTRICT . in that best . both space the industries of accessibility international of tremendously office amenities attracting one professionals for be variety a to and Districthastransformed in BUSINESS BUSINESS unparalleled premium benefitted established demand destination, its of talent has to Flatiron and tenants top considered area menu due is business from city’s The startups area . work, the unprecedented South

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appeal Today, places and companies due Midtown Overthepastdecade, into emerging A 37 NEIGHBORHOOD INFORMATION 224 FIFTH AVENUE district chains, range in to fashion Manhattan mix popular Flatiron A SoHo 23 of rd RETAIL of street hosts while . retailers street District shopping Both . home The big the retail can Sixth rows has lining box 23 goods be that rd destinations, become of Avenue retailers, Fifth street compared RENAISSANCE national rivals stores Avenue and corridor one as any brands and well Broadway only of with neighborhood from the as national anchoring to and one an city’s 14 Broadway high th offer eclectic of street New retail most - end the in a sustainable of in the streets of from has Eataly York luxury foot boutique influx become all City’s alone, traffic, off over residential of Broadway growth businesses, most a retailers draws the and major world continue prized for over development attraction and can the . along 10 Additionally, Fifth be foreseeable gourmet , to 000 with found project Avenue that visitors as the draws grocers, throughout the significant an strong . future Retailers per abundance key shoppers day, . growth drivers Eataly and and see the . NEIGHBORHOOD INFORMATION ANG INVESTMENT GROUP 38 . a of York City’s Other Eats,” Streets . New respected th York - restaurants of 25 intersection well Square New and the quality group and into th a at neighborhood 24 high ”Madison area . of brings the District the restaurants to of that between include Flatiron destination Fifth center value market combination popular and the dining attractions food most into up diverse transformed - tremendous seasonal pop City’s chefs Broadway This has premiere are and best have open Shake add anchor to to which chefs NoMad Bloomfield’s Park world’s first Meyer’s Establishments . many The the the April institutions, city Square of of Danny the renowned in venues, Tavern, RENOWNED DESTINATION some one Humm’s culinary Madison Eataly, Park of were Several These Daniel . . boasts Park, restaurants Batali’s, recognized and top scenes Gramercy periphery District Mario the

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