SUNSET PARK ASSEMBLAGE Corner of 4Th Avenue and 39Th Street Sunset Park • Brooklyn, NY 11232

SUNSET PARK ASSEMBLAGE Corner of 4th Avenue and 39th Street Sunset Park • Brooklyn, NY 11232

Corner 4th Avenue and 39th Street: Value-Add Commercial Redevelopment Opportunity 14,350 Existing Square Feet with 6,000 Square Foot Vacant Lot NON- ENDORSEMENT AND DISCLAIMER NOTICE

Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

SUNSET PARK ASSEMBLAGE Brooklyn, NY ACT ID Z0340147

2 PRESENTED BY

Jake Torre Jakub H. Nowak Associate First Vice President of Investments Licensed Real Estate Salesperson Licensed Associate Real Estate Broker Brooklyn Office Brooklyn Office Tel: (718) 475-4325 Tel: (718) 475-4353 Fax: (718) 475-4310 Fax: (718) 475-4310 [email protected] [email protected] License: NY 10401280593 License: NY 10301211147

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INVESTMENT OVERVIEW

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OFFERING SUMMARY INVESTMENT OVERVIEW Nowak + Partners of Marcus & Millichap has been retained on an exclusive basis to arrange the sale of a Sunset Park assemblage spanning across five lots at the corner of 4th Avenue and 39th Street. The individual property addresses include 359-363 39th St, 994 4th Ave, and 998 4th Ave (Block: 00704 Lots: 0041, 0043, 0048, 0049, 0050) 359-363 39th St consists of three contiguous, vacant tax lots fronting 60 feet on 39th Street. 994 4th Avenue is an "L" shaped mixed-use building fronting 25 feet along 4th Avenue and 20 feet along 39th St. The lot includes a 1,550 square foot warehouse and a 5,700 square foot mixed use building with four two bedroom apartments, a retail store and an office. L astly, 998 4th Ave is a two story, corner retail building and is built full on its 58 foot x 100 foot tax lot. Together, the properties total 14,350 existing square feet with an additional 6,000 square foot vacant lot. All properties are zoned M1-2.

The portfolio is conveniently located three blocks away from the 36th Street "D, N, R" subway station for an easy commute into the rest of the Borough and Manhattan. The subject assemblage offers investors and developers the opportunity to purchase a well located site with a significant value-add potential. The property is located outside of the South Brooklyn IBZ, allowing for hotel and self storage uses as-of-right. Other development possibilities include retail, creative office and industrial uses.

The site is located near Sunset Parks Industry City, Costco’s Wholestore, the popular 5th Avenue retail corridor, and Sunset Park’s public park.

INVESTMENT HIGHLIGHTS

. Five Tax Lot Portfolio Tot aling 14,350 Existing Square Feet with 6,000 Square Foot Vacant Lot . Additional 18,350 of Unused Buildable Air Rights . Three Blocks From the 36th Street "D, N, R" Subway Station . Outside of the South Brooklyn IBZ . Existing Buildings include Corner Retail, Four Free Market Apartments and a warehouse

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FINANCIAL ANALYSIS Financial Overview

Pricing Metrics Income Current Pro Forma OFFERING PRICE $9,725,000 Gross Scheduled Rent $ 295,811 $ 568,800 Number of Lots 5 Vacancy (5%) $ (14,791) $ (28,440) Price/ Existing SF $677.70 Effective Gross Income $ 281,020 $ 540,360 Price/BSF $297.40 Less: Expenses $ (152,668) $ (165,635) Zoning M1-2 Net Operating Income $ 128,352 $ 374,725 FAR 2 Current Cap Rate 1.32% Pro Forma Cap Rate 3.85% Property Overview Expenses Property Addresses: 359-363 39th Street Real Estate Taxes $ (69,323) $ (69,323) 994 4th Avenue Fuel (gas) $ (25,250) $ (25,250) 998 4th Avenue Utilities - Water & Sewer $ (18,504) $ (18,504) City & Zip Brooklyn, NY 11232 Insurance $ (16,292) $ (16,292) Total Existing Building Square Feet 14,350 Repairs & Maintenance $ (4,400) $ (4,400) Total Buildable Square Feet 32,700 Payroll $ (2,400) $ (2,400) Total Lot Size 16,350 Electric (Common Area) $ (2,448) $ (2,448) Vacant Lot Square Feet 6,000 Management Fee (5%) $ (14,051) $ (27,018) Additional Buildable SF 18,350 Total Expenses $ (152,668) $ (165,635)

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FINANCIAL ANALYSIS Rent Roll: 359-363 39th St

Unit Status Size Current Rent $/SF Pro Forma $/SF Ground Floor Land 6,000 $0 $0 $7,500 $15 Monthly Revenue $0 $7,500 Annual Revenue $0 $90,000 Rent Roll: 994 4th Ave Unit Status Size Current Rent $/SF Pro Forma $/SF Retail * Chino Tire Shop- 1/31/2020 3,000 $2,732 $11 $7,000 $28 Office TL Express- MTM 200 $1,300 $78 $1,300 $78 Warehouse * JNR Auto Repair- Exp. 5/30/2027 1,550 $3,819 $30 $3,900 $30 Apartment 2R * 2 Bedroom- Exp. 11/30/2018 625 $1,800 $35 $1,800 $35 Apartment 2F * 2 Bedroom- Exp. 7/31/2018 625 $1,800 $35 $1,800 $35 Apartment 3R 2 Bedroom- MTM 625 $1,400 $27 $1,800 $35 Apartment 3F 2 Bedroom-MTM 625 $1,800 $35 $1,800 $35 Monthly Revenue $14,651 $19,400 Annual Revenue $175,811 $232,800 Rent Roll: 998 4th Ave

Unit Status Size Current Rent $/SF Pro Forma $/SF Retail Restaurant- Los Tres Potrillos- MTM 2,925 $10,000 $41 $10,000 $41 Club Vacant 2,925 $0 $0 $9,000 $37 Storage Second Floor- Vacant 1,250 $0 $0 $1,500 $14 Monthly Revenue $10,000 $20,500 Annual Revenue $120,000 $246,000 Portfolio Monthly Revenue $24,651 $47,400 Portfolio Annual Revenue $295,811 $568,800 * ALL IN-PLACE LEASES HAVE AN EARLY TERMINATION CLAUSE

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FINANCIAL ANALYSIS Cash Flow Income Current Per SF % EGI Pro Forma Per SF %EGI Gross Potential Income: $ 295,810.6 $ 14.6 $ 568,800.0 $ 28.2 Vacany & Collections: 5% $ (14,790.5) $ (0.7) $ (28,440.0) $ (1.4) Gross Effective Income: $ 281,020.0 $ 13.9 $ 540,360.0 $ 26.8

Expenses Real Estate Taxes $ (69,323.0) $ (3.4) $ (69,323.0) $ (3.4) Fuel (Gas) $ (25,250.0) $ (1.3) $ (25,250.0) $ (1.3) Water and Sewer $ (18,503.6) $ (0.9) $ (18,503.6) $ (0.9) Insurance $ (16,292.3) $ (0.8) $ (16,292.3) $ (0.8) Repairs & Maintenance $ (4,400.0) $ (0.2) $ (4,400.0) $ (0.2) Payroll $ (2,400.0) $ (0.1) $ (2,400.0) $ (0.1) Electric (Common Area) $ (2,448.5) $ (0.1) $ (2,448.5) $ (0.1) Management Fee 5% $ (14,051.0) $ (0.7) $ (27,018.0) $ (1.3) Total Expenses: $ (152,668.3) $ (7.6) -54% $ (165,635.3) $ (8.2) -31%

Net Operating Income $ 128,351.7 $ 6.4 $ 374,724.7 $ 18.6

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ASSEMBLAGE BREAKDOWN

Property Address Lot (SF) Existing (SF) Total Buildable (SF) Remaining Buildable (SF) 998 4th Avenue 5,850 7,100 11,700 4,600 994 4th Avenue 4,500 7,250 9,000 1,750 359 39th Street 2,000 - 4,000 4,000 361 39th Street 2,000 - 4,000 4,000 363 39th Street 2,000 - 4,000 4,000 TOTAL 16,350 14,350 32,700 18,350

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REGIONAL MAP

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LOCAL MAP

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AERIAL PHOTO

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TAX MAP

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ZONING MAP

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PROPERTY PHOTO

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PROPERTY PHOTO

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PROPERTY PHOTO

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PROPERTY PHOTO

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PROPERTY PHOTO

19 NEIGHBORHOOD REPORT Sunset Park SUNSET PARK NEIGHBORHOOD REPORT Overview The neighborhood of Sunset Park is located in the southwestern part of Brooklyn between Greenwood Heights and Bay Ridge. Like many other Brooklyn neighborhoods, Sunset Park has gone through great change and growth. It is bounded by 36th Street and Greenwood Cemetery to the north, 9th Avenue to the east, 65th Street to the south and the Upper New Yo rk Bay to the West. The neighborhood, situated on NY Harbor, became an ideal location for freight shipping into NYC in the early 20th Century. As an active port, very large warehouses were built with loading docks, freight elevators and railroad tracks connecting Brooklyn with other parts of NY. Industry began to boom.

Once shipping moved away from maritime routes to ground ventures, and the BQE was built, running through the western part of the neighborhood, the waterfront declined in activity. Recently, with the newly emerging Industry City and many other projects being redeveloped as campuses for industry, technology and business, the area is thriving once again. It retains its charm as a diverse neighborhood with immense opportunities for growth and expansion.

A “Tale of Two Cities,” Sunset Park houses industrial and creative spaces to the west of The Gowanus Expressway and low-lying brownstone residential homes with modest density to the east spanning long streets down to 9th Avenue. These unpretentious row homes continue to cater to an expanding demographic and attract people from all walks of life. SUNSET PARK NEIGHBORHOOD REPORT

Zoning Designation

Sunset Park is primarily separated into two zoning categories. The waterfront, designated as a manufacturing zone remains M3-1 and M2-1 up until 4th Avenue on the east. The remaining stretch of the neighborhood, continuing until the eastern border at 9th Avenue, retains residential zoning guidelines which tend to include R6, R6A, and R6B. SUNSET PARK NEIGHBORHOOD REPORT

IBZ District Southwest Brooklyn

The Industrial Business Zone, or IBZ was instituted in various neighborhoods across NYC in 2006 to ensure that major industry remains in NYC and to protect areas that might have been subject to major development. Sunset Park and neighboring Greenwood Heights, parts of Gowanus and Red Hook are areas known for manufacturing and business and have been included in the rezoning as displayed in orange in the map to the right. SUNSET PARK NEIGHBORHOOD REPORT

Demographics

• As of 2016, the total population of Sunset Park reached 129,473. The female population at 62,807 people is lower than that of male at 66,666 people. • In the Sunset Park neighborhood, there are 37,755 households with 3.28 people per household on average. 26,039 of these households are family households and 11,717 are non-family households. • The educational levels of the population in Sunset Park varies greatly; 18.5% of residents have a bachelor’s degree and 7.6% have a graduate degree, while 19.7% have some high school and 36.5% of residents do not have a high school diploma • 62.7% of the workforce is white collar, while 37.3% is blue collar SUNSET PARK NEIGHBORHOOD REPORT

Household Income and Average in Sunset Park Numbers are from 2016

Household Median Income Median Under 25…...... $39,215 $60,000 $50,000 Median Income 25-44…...... $38,073 $40,000 $30,000 Median Income 45-64…...... $48,133 $20,000 $10,000 Median Income Over 65…..$30,556 $0 Under 25 25-44 45-64 Over 65 SUNSET PARK NEIGHBORHOOD REPORT

Public Schools

School Stats:

PS 169: K-5; 1,624 students, 100% receiving free lunch, 97% daily attendance PS 503: PK-5; 1,110 students, 97% receiving free lunch, 95% daily attendance IS 220: 6-8; 1,435 students, 100% receiving free lunch, 95% daily attendance Sunset Park High School: 9-12; 1,314 students, 75% receiving free lunch, 85% daily attendance

P.S.169 (K-5) P.S.503 (PreK-5) I.S. 220 (6-8) Sunset Park HS (9-12) th th 4305 7th Avenue 330 59th Street 4812 9 Avenue 153 35 Street Brooklyn, NY 11232 Brooklyn, NY 11220 Brooklyn, NY 11220 Brooklyn, NY 11232 SUNSET PARK NEIGHBORHOOD REPORT Attractions

Sunset Park Bush Terminal Piers Park and Cultural Center Sunset Park, the neighborhood namesake, is After the Bush Terminal piers closed in 1974 the waterfront a 24.5 acre park founded in the 1890’s went into complete decline and was reinvigorated and spanning 41st to 44th streets and from 5th to 7th opened once again as a public park in 2014. The Aves. At the more elevated areas the park neighborhood has been lacking in public parks for its has sweeping views of the Statue of Liberty, residents and these 11 acres of parkland are a tremendous NY Harbor and parts of Manhattan. The park addition to the area. Pier 5, originally intended as part of has a community pool, fields, courts, and the park itself has been proposed for redevelopment as a recreation center. separate marine and cultural center. SUNSET PARK NEIGHBORHOOD REPORT Attractions

Industry City Industry City is an attraction for locals and tourists offering pop up shops, flea markets, events, and open studios and galleries, as well as a campus for technology, innovation and business. Its 16 buildings, encompassing 6 Million Square Feet, offers a food hall, retail space, waterfront esplanade, fitness center and ample parking for its visitors and tenants to experience and enjoy alike. Hundreds of retailers and businesses have filled the space as of yet and are continuing to do so to make Industry City a fantastic Brooklyn destination.

Greenwood Cemetery Opened in 1838, Greenwood Cemetery quickly became more than just an end destination for the body and soul. By the early 1860’s 500,000 visitors had been coming out to explore the beautiful 478 Acres of land and lush greenery. Reaching National Historic Landmark status in 2006 the park continues to host trolley tours, weddings at the chapel, various cultural events and programs. The cemetery still attracts history buffs, birdwatchers, children on school trips and those simply looking for a quiet place to enjoy the scenery. SUNSET PARK NEIGHBORHOOD REPORT

DIRECTORY Food + Drinks 1. Dunkin’ Donuts Retail Corridor 2. McDonalds 3. Burger King 4. Subway 5. Papa Johns 6. McDonalds 7. 7-Eleven 8. Dunkin Donuts 9. Louisiana Kitchen 10. 3 Guys From Brooklyn 11. Dunkin’s Donuts

Banking 1. TD Bank 2. Citibank 3. Chase Bank 4. HSBC 5. Chase Bank

Groceries 1. Costco Wholesale 2. C-Town 3. Key Foods 4. Met Food

Shopping + Errands 1. Industry City 10. Gamestop 2. Saks Off 5th 11. Post Office 3. Design Within Reach 12. Enterprise 4. Micro Center 13. T-Mobile 5th Avenue in Sunset Park offers 5. Li-lac Chocolates 14. Audi 6. Storage Mart 15. Toyota many chain retailers, restaurants, 7. Melody Lanes 16. Lexus banks, and supermarkets to the 8. Duane Reade 17. Maimonides Medical 9. AT&T 18. NYU Langone local neighborhood. Industry City, along the waterfront, is made up of Attractions a complex of offices and stores 1. Brooklyn Public Library 2. Sunset Park bringing a revival of industry and commerce to the area. SUNSET PARK NEIGHBORHOOD REPORT

Existing Projects: Office, Commercial, Creative Industry City 220 36th St #2-A Brooklyn, NY 11232 Jamestown, Belvedere Capital and Angelo, Gordon and Co - Sydness Architects, Renovating Operations led by Andrew Kimball who previously transformed the Brooklyn Navy Yard • 16 Buildings encompassing 6 Million Square Feet • Art, Creative, Office, Retail Space focused on a community experience • Food Hall, Waterfront Public Space, 5 acres of landscaped space • 13 Foot Ceilings, parking lot, Fitness Center • Innovation Alley, 1,200 foot long retail ground floor stretch from 33rd St to 37th St, including 125,000 SF

341-353 39th St Brooklyn, NY 11232 Madison Realty Capital, $37 Million Purchase • 2 adjacent warehouses purchased as a redevelopment site • 163,000 SF of office and creative space Also purchased and will be redeveloping: • 29 Ryerson St- $45 Million • Brooklyn Whale Square Building- $82.5 Million SUNSET PARK NEIGHBORHOOD REPORT Existing Projects: Office, Commercial, Creative

Brooklyn Army Terminal 140 58th St Brooklyn, NY 11220 • 97 acre site, 2 eight-story buildings, 4 million SF of space • 3.1 Million SF of rentable space • Waterfront location, on-site parking, 118 loading docks • Diverse business community, accessible location, on site management

Liberty View Industrial Plaza 850 3rd Ave Brooklyn, NY 11232 Salmar Properties • 1.3 Million SF property with 960,000 SF of rentable Space • 8 floors, 6 contiguous rentable floors, 160,000 SF per floor Plate • Ground and 2nd floor retail, 12 Ft ceilings • 150 parking spaces • Amazon announced recent lease of space SUNSET PARK NEIGHBORHOOD REPORT Residential Developments Projects

816 58th St, between 8th and 9th Avenues Brooklyn, NY 11220 Permits filed, William Chou developing, Shining Tam Architect • Proposed eight-story mixed-use building • 22,688 SF, 96 Ft building to include ground floor and cellar retail, 2nd and 3rd floor daycare center, and 9 apartments to fill remaining space • 1,276 SF per unit

4603 8th Avenue, between 46th and 47th Street Brooklyn, NY 11220 Developer Yan Feng Liang, Architects Basics Group Corp • Six-story mixed-use building • 18,831 SF Building, ground floor retail, 2nd floor daycare, remaining space across 3rd to 6th floor to include 10 apartments averaging 1,200 feet each SUNSET PARK

NEIGHBORHOOD REPORT

Representative Rental Units for Multi-Family Housing

th 4722 5 Ave, #1B Average Apartment Rents- 2016 Brooklyn, NY 11220 3000 Alcove Studio, 1 bathroom Renting for $1,350 a month 2500 2000

1500

1000 th 4114 9 Ave #3C 500 Brooklyn, NY 11232 0 One bedroom, one bathroom Studio 1 Bedroom 2 Bedroom 3 Bedroom Renting for $1,775, 710 square feet

507 41st St #2F 426 60th St #2 Brooklyn, NY 11232 Brooklyn, NY 11220 Two bedrooms, one bathroom Three bedrooms, two bathrooms Renting for $2,200 a month Renting for $2,550 a month SUNSET PARK NEIGHBORHOOD REPORT

Transportation: Stations that serve Sunset Park:

36th Street at 4th Ave: D, N and R Trains 9th Ave at 39th St: D Train 45th St at 4th Ave: R Train 53rd St at 4th Ave: R Train 59th St at 4th Ave: N and R Trains 8th Ave at 62nd St: N train

Bus Service: B9, B11, B35, B37, B63, B70

Express Bus to Manhattan: X27, X37

Ferry Service • Brooklyn Army Terminal Ferry Service to Manhattan is located at 58th Street, near First Avenue • Rockaway Ferry to Pier 11 at Wall Street and East 34th Street SUNSET PARK ASSEMBLAGE

MARKET OVERVIEW

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MARKET OVERVIEW BROOKLYN OVERVIEW

Located across the East River from Manhattan, Brooklyn is the most populous of the five New York City boroughs. Brooklyn covers 71 square miles of the land mass shared with Queens. Brooklyn is bordered to the east and south by the Atlantic Ocean, to the west by the Upper New York Bay and the East River, and to the north by the borough of Queens. The borough of Brooklyn, with a population of more than 2.5 million, is located entirely within Kings County and is divided into 18 community districts, many of which have been made famous in movies, books and television. Some of the most well-known neighborhoods include Williamsburg, Brooklyn Heights, Park Slope and Coney Island.

METRO HIGHLIGHTS

HIGH POPULATION DENSITY Were it to be counted as a standalone city, Brooklyn would be the fourth largest in the nation.

CULTURALLY DIVERSE There are almost 100 different ethnic groups offering unparalleled diversity and access to the cultures of the world.

COMPETITIVE BUSINESS COSTS Brooklyn has lower business costs than Manhattan and is easily accessible to the tri-state marketplace.

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MARKET OVERVIEW

ECONOMY . New York City has the largest economy in the nation and houses more Fortune 500 companies than any other city in the country. While many corporate headquarters are in Manhattan, Brooklyn benefits from regional corporate employment and economic stimulus. . Brooklyn’s prime competitive advantage to other boroughs is a lower cost of doing business. As a result, King County houses many back-office operations of companies based in Manhattan. . Diverse local industries service the large population base, resulting in the domination of education and healthcare employers.

MAJOR AREA EMPLOYERS

The Brookdale Univ. Hospital & Med. Center Maimonides Medical Center New York Methodist Hospital New York City Transit Authority The Brooklyn Hospital Center Long Island College Hospital New York City Board of Education Kingsbrook Jewish Medical Center Woodhull Medical Center * Forecast Interfaith Medical Center

SHARE OF 2016 TOTAL EMPLOYMENT

3% 8% 14% 8% 5% MANUFACTURING PROFESSIONAL AND GOVERNMENT LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES BUSINESS SERVICES

19% 4% + 33% 2% 5% TRADE, TRANSPORTATION CONSTRUCTION EDUCATION AND INFORMATION OTHER SERVICES AND UTILITIES HEALTH SERVICES

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MARKET OVERVIEW

DEMOGRAPHICS

. The borough is expected to add nearly 50,000 people through 2021. During this time, roughly 30,000 households will be formed, generating demand for housing. SPORTS . The homeownership rate of 27 percent is well below the national rate of 64 percent, maintaining a strong rental market. . Brooklynites are more educated than the U.S., with 31 percent having attained at least a bachelor’s degree, compared with the national figure of 29 percent.

2016 Population by Age

8% 18% 7% 32% 23% 12% 0-4 YEARS 5-19 YEARS 20-24 YEARS 25-44 YEARS 45-64 YEARS 65+ YEARS EDUCATION

2016 2016 2016 2016 MEDIAN POPULATION: HOUSEHOLDS: MEDIAN AGE: HOUSEHOLD INCOME: 2.7M 995K 34.5 $47,100 Growth Growth U.S. Median: U.S. Median: 2016-2021*: 2016-2021*: 1.8% 2.6% 37.7 $54,500

QUALITY OF LIFE Ongoing revitalization efforts boroughwide have spawned a modest rebirth of the local economy. As the maritime industry’s impact wanes, borough officials are developing creative ways to capitalize on the desirable waterfront location such as in the Brooklyn Navy Yard, ARTS & ENTERTAINMENT Erie Basin/Sunset Park, Newtown Creek and the Red Hook Marine Terminal. Residents and visitors have a number of entertainment, sports and cultural venues to choose from. The Brooklyn Nets and New York Islanders play in the Barclays Center. Cultural and academic institutions include Brooklyn Academy of Music, the Brooklyn Museum, the New York Aquarium, Prospect Park and the Brooklyn Botanic Garden.

* Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

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MARKETINGDEMOGRAPHICS TEAM Created on February 2018

POPULATION PROFILE 1 Miles 3 Miles 5 Miles POPULATION PROFILE 1 Miles 3 Miles 5 Miles . Population by Age . Population 25+ by Education Level 0 to 4 Years 8.82% 8.41% 7.73% 2017 Estimate Population Age 25+ 70,950 594,977 1,518,459 5 to 14 Years 12.71% 12.07% 11.83% Elementary (0-8) 20.85% 8.95% 7.97% 15 to 17 Years 3.39% 3.23% 3.33% Some High School (9-11) 18.96% 10.01% 9.49% 18 to 19 Years 1.98% 1.82% 1.99% High School Graduate (12) 20.81% 23.09% 25.01% 20 to 24 Years 7.75% 6.33% 6.85% Some College (13-15) 8.30% 11.66% 13.55% 25 to 29 Years 11.47% 9.56% 9.63% Associate Degree Only 4.37% 4.77% 5.38% 30 to 34 Years 10.29% 9.67% 9.07% Bachelors Degree Only 13.11% 21.66% 21.23% 35 to 39 Years 8.43% 8.42% 7.73% Graduate Degree 6.73% 16.37% 14.29% 40 to 49 Years 12.84% 13.05% 12.76% 50 to 59 Years 9.99% 11.37% 11.86% 60 to 64 Years 4.04% 4.93% 5.11% 65 to 69 Years 2.86% 3.83% 4.08% 70 to 74 Years 1.95% 2.42% 2.69% 75 to 79 Years 1.42% 1.90% 2.13% 80 to 84 Years 1.04% 1.38% 1.48% Age 85+ 1.01% 1.62% 1.73% Median Age 31.80 34.41 34.75

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MARKETINGDEMOGRAPHICS TEAM

Population Race and Ethnicity In 2017, the population in your selected geography is 108,588. The The current year racial makeup of your selected area is as follows: population has changed by 9.69% since 2000. It is estimated that the 32.09% White, 3.99% Black, 0.05% Native American and 33.70% population in your area will be 107,645.00 five years from now, which Asian/Pacific Islander. Compare these to US averages which are: represents a change of -0.87% from the current year. The current 70.42% White, 12.85% Black, 0.19% Native American and 5.53% population is 52.06% male and 47.94% female. The median age of the Asian/Pacific Islander. People of Hispanic origin are counted population in your area is 31.80, compare this to the US average independently of race. which is 37.83. The population density in your area is 34,508.17 people per square mile. People of Hispanic origin make up 48.92% of the current year population in your selected area. Compare this to the US average of 17.88%.

Households Housing There are currently 31,543 households in your selected geography. The median housing value in your area was $542,981 in 2017, The number of households has changed by 5.98% since 2000. It is compare this to the US average of $193,953. In 2000, there were estimated that the number of households in your area will be 32,142 6,552 owner occupied housing units in your area and there were five years from now, which represents a change of 1.90% from the 23,211 renter occupied housing units in your area. The median rent at current year. The average household size in your area is 3.34 the time was $638. persons.

Income Employment In 2017, the median household income for your selected geography is In 2017, there are 40,834 employees in your selected area, this is also $41,833, compare this to the US average which is currently $56,286. known as the daytime population. The 2000 Census revealed that The median household income for your area has changed by 45.65% 44.34% of employees are employed in white-collar occupations in this since 2000. It is estimated that the median household income in your geography, and 55.88% are employed in blue-collar occupations. In area will be $47,296 five years from now, which represents a change 2017, unemployment in this area is 7.96%. In 2000, the average time of 13.06% from the current year. traveled to work was 47.00 minutes.

The current year per capita income in your area is $17,824, compare this to the US average, which is $30,982. The current year average household income in your area is $60,298, compare this to the US average which is $81,217.

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8 DEMOGRAPHICS

41 SUNSETPROPERTY PARKNAME ASSEMBLAGE

PRICINGPRICING ANDANDLOCATION MARKET VALUATIONVALUATIONTENANTMARKETING OVERVIEWSUMMARY MATRIXMATRIX PLAN TRAFFIC COUNT

YEAR COUNT

2012 34,665

2012 12,060

2012 9,546

4242#