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Exclusive Offering Memorandum

85 , , NY Prime 2nd Floor Corner Office Cooperative Adelaide Polsinelli Trystan Polsinelli Vice Chair Licensed R.E. Salesperson o 646.854.3801 o 646.854.2182 m 646.418.7695 m 646.509.3694 [email protected] [email protected]

2 TOC | 85 Fifth Avenue Investment Property Location Legal Disclaimer

5 6 10 17 Property Overview Property Photos Neighborhood Details Confidentiality & Floor Plans Transportation Disclaimer

85 Fifth Avenue I TOC 3 4 Investment | 85 Fifth Avenue Investment

INVESTMENT Property Overview

As exclusive agent, Compass is pleased to offer for sale the 2nd floor corner office cooperative (the “Property”) located at 85 Fifth Avenue, a 13-story corner office building in the prime Flatiron neighborhood on the northeast corner of Fifth Avenue & East 16th Street.

The co-op contains 8,500 sq. ft. and benefits from high 12-14 foot ceiling heights and bright light throughout the day due to its corner location. The co-op offers open floor work spaces.

The building provides 24-hour access and security system.

Located within close proximity to Union Square Park and the 4, 5, 6, L, N, Q, R trains.

Property Information Address: 85 Fifth Avenue , New York 10003

Location: Northeast Corner of Fifth Avenue & East 16th Street

Block/Lot: 844/1

Building SF: 103,022 Sq. Ft.

2nd Floor Office SF: 8,500 Sq. Ft.

Zoning: C6-4M, C6-2A

Building Class: O6 - Office with Commercial 7-19 Stories

Historic District: Ladies’ Mile

Projected Gross Income: $680,000 (Value 8,500 SF @ $80/SF)

Condo Maintenance: $205,200 annually ($17,100 per month which includes real estate taxes)

Net Operating Income: $474,800

$12,000,000

ASKING PRICE

85 Fifth Avenue I Property Overview 5 85 FIFTH AVENUE, 2ND FLOOR Property Photos

6 Property | 85 Fifth Avenue 85 Fifth Avenue | Property 7 85 FIFTH AVENUE, 2ND FLOOR Property Photos

8 Property | 85 Fifth Avenue 85 FIFTH AVENUE, 2ND FLOOR Floor Plans

85 Fifth Avenue | Property 9 LOCATION DESCRIPTION Flatiron District

With its central location, the Flatiron District is great for neighborhood’s central location in Manhattan benefits those who want a little bit of everything. Bustling daytime from convenient subway access to/from the 4, 5, 6, L, N, transit dissipates into relaxed evening strolls as Flatiron Q and R subway lines. bends to be energetic when you want it, and peaceful when you don’t. Over the past several years, the neighborhood has gained the moniker of “ ” due to the number of technology firms moving into the area. The area has long been a popular place to live and work given its broad base of retail and restaurant offerings, its loft- style buildings and its proximity to Madison Square Park, and Union Square. But its hip reputation has clearly attracted more and more entrepreneurs over the last few years. Creative types prefer to set up shop in close proximity to each other, and they eschew the more corporate environments of and Midtown.

The Flatiron District is generally defined as the area bound by Chelsea to the west, Union Square to the south, Gramercy Park to the east and East 26th Street to the north. The neighborhood is densely populated by both office and residential tenants. Additionally, the

Flatiron is a popular choice for many New Yorkers. Many residents choose to move here as they begin to start their own families. By night the neighborhood quiets down, but is still a popular destination for a laid back bar scene. Shopping is also a popular activity in the neighborhood, especially on Fifth Avenue, which houses modern stores like Anthropologie, Madewell, Free People, and Joe Fresh.

10 85 Fifth Avenue | Location Location | 85 Fifth Avenue 11 THE NEIGHBORS Professionals and post-grads looking for a laid-back but energetic neighbor- hood.

WHAT TO EXPECT A convenient neighborhood close to Union Square and Midtown with plenty of options for public transportation.

THE LIFESTYLE Fast-paced during the day and on the weekends, anchored by Union Square and great dining. Relatively quiet and mellow at night.

THE MARKET Pricey with very low vacancy rates. Lux- ury buildings with -new amenities, and a few walk-ups buildings.

YOU’LL FALL IN LOVE WITH Historic preservation in the middle of busy Manhattan.

12 85 Fifth Avenue | Location Location | 85 Fifth Avenue 13 LOCATION Transportation

85 Fifth Avenue is located in prime Flatiron District on the northeast corner of Fifth Avenue & East 16th Street.

Train/Bus Subway/Bus Stop Distance

4 5 6 N R Q W /UNION SQUARE 0.2 miles

F L PATH 14TH STREET 0.3 miles

M1, M2, M3, M55 FIFTH AVE/WEST 17th STREET 0.1 miles

M14A, M14D 14TH STREET/FIFTH AVE 0.2 miles

14 Location | 85 Fifth Avenue

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Nassau Richmond Valley S78 TOTTENVILLE BEACH Atlantic S78 Tottenville S78 16 LOCATION Confidentiality & Disclaimer

This Confidential Offering Memorandum has been prepared in their sole discretion, to reject any and all expressions of exclusively by Urban Compass, Inc. d/b/a Compass (“Compass”) interest or offers regarding the Property and/or terminate on behalf of Ownership, the (“Owners”), regarding the purchase discussions with any entity at any time with or without notice. of the property described herein at 85 Fifth Avenue, New York The Owners shall have no legal commitment or obligation to (the “Property”). The materials and information contained any entity reviewing the Confidential Offering Memorandum in this Confidential Offering Memorandum do not purport or making an offer to purchase the Property unless and until a to be all-inclusive or to contain all of the information which written agreement for the purchase of the Property has been prospective investors may need or desire. All materials have fully executed, delivered and approved by the Owners and its been developed by Compass, the Owners and other sources legal counsel and any conditions to the Owners’ obligations and are subject to variation. thereunder have been satisfied or waived. Compass is not authorized to make any representations or agreements on No representation is made by Compass or the Owners as to behalf of the Owners. the accuracy or completeness of the information contained herein and nothing contained herein is or shall be relied on This Confidential Offering Memorandum and its contents, as a promise or representation as to the future performance except such information which is a matter of public record of the Property. Although the information contained herein is or is provided in sources available to the public (such believed to be correct, Compass and the Owners and their contents as so limited herein called the “Contents”) are of a employees disclaim any responsibility for inaccuracies and confidential nature. By accepting the Offering Memorandum, expect prospective purchasers to exercise independent due you agree (i) to hold and treat it in the strictest confidence, diligence in verifying all such information. (ii) not to photocopy or duplicate it, (iii) not to disclose the Confidential Offering Memorandum or any of its contents to Further, Compass, the Owners and their employees disclaim any other entity (except to outside advisors retained by you, if any and all liability for representations and warranties, necessary, for your determination of whether or not to make expressed and implied, contained in or omitted from the a proposal and from whom you have obtained an agreement Confidential Offering Memorandum or any other written or of confidentiality) without the prior written authorization of the oral communication transmitted or made available to the Owners or Compass, (iv) not to use the Confidential Offering recipient. The Confidential Offering Memorandum does not Memorandum or any of its contents in any or manner constitute a representation that there has been no change detrimental to the interest of the Owners or Compass, and (v) in the business or affairs of the Property or the Owners to return it to Compass immediately upon request of Compass since the date of preparation of the Offering Memorandum. or the Owners. Analysis and verification of the information contained in the Confidential Offering Memorandum is solely the responsibility If you have no further interest in the Property, please return the of the prospective purchaser. Additional information and an Confidential Offering Memorandum forthwith. opportunity to inspect the Property will be made available No inspections of the Property are permitted unless upon request to interested and qualified investors. accompanied by the Owners or a representative from Compass.

The Owners and Compass each expressly reserve the right,

85 Fifth Avenue | Legal Disclaimer 17 Adelaide Polsinelli Trystan Polsinelli Vice Chair Licensed R.E. Salesperson o 646.854.3801 o 646.854.2182 m 646.418.7695 m 646.509.3694 [email protected] [email protected]