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Home , 5 Pointz, MoMA PS1

30,000 SF OFFICE DESIGN CENTER WITH 2,700 SF OF PARKING 38-27 30TH STREET , NEW YORK

A RARE ASSET IN ONE OF THE MOST DESIRABLE LOCATIONS OUTSIDE OF MANHATTAN.

PROPERTY OVERVIEW

38-27 30th Street is a 30,000 SF 3-story loft building including a full floor lower level with natural light. The property is well maintained and currently used as a museum by the Fischer Landau Center for Art. Originally constructed in the 1930’s this beautiful loft building has been renovated and improved over time from the mid 1990’s to now. All floors are serviced by a modern passenger elevator and 2 forms of staircase egress. It is currently configured as open space with polished concrete floors and white walls which are used to display art.

There is also a 2,700 SF lot that can be used for and outdoor area or dedicated parking.

The property provides an excellent canvas for an office user to create a total work environment that is specific to their needs and vision in the heart of Long Island City. With its location within a 5 minute walk to the N,W, M, R and less than 10 Minutes to the 7, and F subways lines it allows for a convenient commute for a workforce from all over . PROPERTY OVERVIEW

38-27 30th Street presents a truly unique opportunity in one of the most popular neighborhoods in New York City. As former manufacturing facilities are converted into office space around Long Island City, options to house one company under one roof have become increasingly rare. All-encompassing office space for one company is in high demand and 38-27 30th Street is the newest property to meet this growing need.

With a new roof, mechanicals, floors and windows, a prime turn-key opportunity exists for the right company in this newly updated building. With both on-site parking and the N and W subway lines less than a block away, the right company can have immediate access to all the amenities Long Island City and New York City have to offer.

Potential Uses

• Banking

• Financial

• Legal

• Non for profit

• City/state/federal agencies

• Schools

• Museums

• Corporate headquarters Rendering of proposed facade THE OFFERING

Three (3) Story Office Design Center with lower level

• Total SF - 30,000 SF • Total SF per floor - 7,500 SF • Lot Area: 9,050 square feet (103’ x 90’) • Year Built: 1931, recently renovated • Zoning: M1-2 / R5D, LIC • Max allowable commercial FAR: 2.0 • Community Facily FAR: 4.8 • RE Taxes: $82,080 • Natural light • HVAC separated by floor • New roof • Close proximity to W F M 7 Rendering of proposed facade NEIGHBORHOOD OVERVIEW

This growing diverse neighborhood continues to have local, national and international interest. Governmental / City Agencies, schools, non-for profits as well as developers and end users continue to search for this type of property in a market with little inventory.

Long Island City has experienced tremendous growth over the past several years, primarily attracting the highly educated and compensated citizens. This growth that is expected to continue will fuel future demand across commercial and residential sectors.

Between 2010 and 2015, the population grew 12.5%. Over the next five years, this trend is expected to continue, with the population expected to grow 8.2%. In comparison, Manhattan’s population has grown only 3.4% over the past five years, and is expected to grow only 2.9% over the next five years. 43.6% of the Long Island City population is in their prime working years between the ages of 25 and 44, in comparison to 30.4% in all of , and 27% in Manhattan. Queens has the highest level of employment among the boroughs outside of Manhattan, growing by 6.6% over the past three years. The borough has also achieved employment averages consis-tently higher than the City wide average over the past two decades because of its diverse economy.

RETAIL MAP

Paragon Acura

Major World Kia

Koeppel Volkswagon Studio Square Hyundai Paragon City Cadallac/

Recreated PMS Buick/GMC Paragon Acura Koeppel Mazda

Koeppel Subaru

N Q M R Major World Auto Paragon Honda Major Chrysler/ Dodge/Jeep/Ram 7 N W Silverstar Motors Mercedes Lexus of Queens

E M R Standard Motor Products Building (Coffeed & Brooklyn Grange located on Rooftop)

M R 1.3 MILLION ANNUAL RIDERSHIP

QUEENSBOROUGH - 59TH STREET BRIDGE N Q 2.44 MILLION ANNUAL RIDERSHIP Paragon Acura

Major World Kia

Koeppel Volkswagon Studio Square Hyundai Paragon City Cadallac/

Recreated PMS Buick/GMC Paragon Acura Koeppel Mazda

Koeppel Subaru

N Q M R Major World Auto Paragon Honda Major Chrysler/ Dodge/Jeep/Ram 7 N W Silverstar Motors Mercedes Lexus of Queens

E M R Standard Motor Products Building (Coffeed & Brooklyn Grange located on Rooftop)

M R 1.3 MILLION ANNUAL RIDERSHIP

QUEENSBOROUGH - 59TH STREET BRIDGE N Q 2.44 MILLION ANNUAL RIDERSHIP LOCATION

This growing diverse neighborhood continues to have local, national and international interest. Governmental / City Agencies, schools, non-for profits as well as unlimited end users continue to search for this type of property in a market with little inventory. Long Island City has experienced tremendous growth over the past several years, primarily attracting the highly educated and compensated citizens. This growth that is expected to continue will fuel future demand across commercial and residential sectors. Between 2010 and 2015, the population grew 12.5%.

A C CENTRAL PARK F 15 MINUTES 12 MINUTES 7 38-27 30TH STREET N Q M E M M R MOMA PS1 G 20 MINUTES TIMES SQUARE GRAND CENTRAL 20 MINUTES 18 MINUTES

5 POINTZ (1,000 RESIDENTIAL UNITS) 20 MINUTES B D M F HUNTERS POINT S (5,118 RESIDENTIAL UNITS) 15 MINUTES 7 MADISON SQ. PARK 20 MINUTES

A GREENPOINT C UNION SQUARE 15 MINUTES 15 MINUTES E LOCATION (Continued)

Over the next five years, this trend is expected to continue, with the population expected to grow 8.2%. In comparison, Manhattan’s population has grown only 3.4% over the past five years, and is expected to grow only 2.9% over the next five years. 43.6% of the Long Island City population is in their prime working years between the ages of 25 and 44, in comparison to 30.4% in all of Queens, and 27% in Manhattan. Queens has the highest level of employment among the boroughs outside of Manhattan, growing by 6.6% over the past three years. The borough has also achieved employment averages consis-tently higher than the City wide average over the past two decades because of its diverse economy.

TRANSPORTATION

Long Island City is one of the best connected transit hubs in New York City, with access to eight subway lines, 13 bus lines, the East River Ferry, and the Long Island Rail Road, providing easy access to Eastern Long Island, Brooklyn, and all of Manhattan. The Property is one block from the E, M, and R, at 31st Street and , a few short blocks from the #7 at Queensboro Plaza, making 38-27 30th Street only 10 minutes from Midtown Manhattan, 13 minutes from Grand Central Terminal, and 16 minutes from Penn Station via subway. LOCATION POINTS OF INTEREST Rendering of proposed facade

SITE PLAN RESIDENTIAL / HOTEL / CULTURAL HIGHLIGHTS

LIC is a vibrant and growing residential community. Over 5,000 residential units have been recently completed or are under construction, with another 10,000 in various stages of planning. Residents enjoy a more affordable cost of living versus Manhattan and Brooklyn and a walk to work location for those employed by the growing office tenant base.

Twenty-two new hotels are now located in Long Island City. The drivers for this lodging development are similar to the residential boom, including excellent views, cheaper rates, and rapid public transit into New York City.

Infrastructure improvements – critical improvements to the transportation hubs, major thoroughfares and parks have complemented the commercial and residential development.

Museums/Culture – the market is rich in cultural amenities that enhance the artistic and community vibe of the neighborhood. The MoMA PS1, Sculpture Center, Socrates Sculpture Park, Noguchi Foundation and Museum, and the American Museum of the Moving Image are a few of the many cultural attractions.

Riverfront Parks – Long Island City’s riverfront parks offer the most spectacular view of Manhattan with over 40 acres of expansion underway.

Joshua Kleinberg First Vice President +1 718 289 7709 [email protected]

Ruben Kast DeMartinez Vice President +1 718 289 7713 [email protected]

Matthew Giordano Senior Associate +1 718 289 7721 [email protected]

© 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. 11/12 PMC0004229