Canal Street, Located on Canal Street Block-Through to Lispenard Between Church Street and Broadway

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Canal302 Street (AKA 61 LISPENARD STREET) Offering Memorandum Disclaimer Table of Contents

This Confidential Offering Memorandum (“Memorandum”) is being delivered subject to the Executive Summary...... 46 terms of the Confidentiality Agreement (the “Confidentiality Agreement”) signed by you and IncomeProperty & DescriptionExpenses...... 146 For more information, please contact constitutes part of the Confidential Information (as defined in the Confidentiality Agreement). one of the following individuals: It is being given to you for the sole purpose of evaluating the possible investment in 302 Canal TenancyInterior Photos Overview...... 228 Street (the “Property”), and is not to be used for any other purpose or made available to any ComparableMarket Overview Sales...... 2810 Robert Burton other party without the prior written consent of the owner, or its exclusive broker, Cushman Senior Managing Director & Wakefield. This Memorandum was prepared by Cushman & Wakefield based primarily on MarketLease Comparables Overview...... 3414 +1 212 660 7770 information supplied by Managing Member. It contains select information about the Project [email protected] and the real estate market but does not contain all the information necessary to evaluate the AreaSales DemographicsComparables...... 3823 Project. The financial projections contained herein (or in any other Confidential Information) DueFinancials Diligence...... 4226 Maurice Suede are for general reference only. They are based on assumptions relating to the overall economy Associate Director +1 212 589 5131 and local competition, among other factors. Accordingly, actual results may vary materially [email protected] from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or a Bobby Carrozzo legal analysis of such documents. While the information contained in this Memorandum and Senior Associate any other Confidential Information is believed to be reliable, neither Cushman & Wakefield nor +1 212 589 5118 Managing Member guarantees its accuracy or completeness. Because of the foregoing and [email protected] since the investment in the Project is being offered on an “As Is, Where Is” basis, a prospective investor or other party authorized by the prospective investor to use such material solely to Daniel Soyak facilitate the prospective purchaser’s investigation, must make its independent investigations, Associate projections and conclusions regarding the investment in the Project without reliance on +1 212 698 5552 this Memorandum or any other Confidential Information. Although additional Confidential [email protected] Information, which may include engineering, environmental or other reports, may be provided to qualified parties as the marketing period proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineers and environmental experts. Neither Cushman & Wakefield nor Managing Member guarantees the accuracy or completeness of the information contained in this Memorandum or any other Confidential Information provided by Cushman & Wakefield and Managing Member. Managing Member expressly reserves the right, at its sole discretion, to reject any offer to invest in the Project or to terminate any negotiations with any party at any time with or without written notice. Managing Member shall have no legal commitment or obligations to any prospective investor unless and until a written sale agreement has been fully executed, delivered and approved by Managing Member and any conditions to Managing Member’s obligations thereunder have been satisfied or waived. Managing Member has retained Cushman & Wakefield as its exclusive broker and will be responsible for any commission due to Cushman & Wakefield in connection with a transaction relating to the Project pursuant to a separate agreement. Cushman & Wakefield is not authorized to make any representation or agreement on behalf of Managing Member. Each prospective investor will be responsible for any claims for commissions by any other broker in connection with an investment in the Project if such claims arise from acts of such prospective investor or its broker. This Memorandum is the property of Managing Member and all parties approved by Managing Member and may be used only by parties approved by Managing Member. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement.

2 cushmanwakefield.com 3 Executive Summary

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a 5-story mixed-use building at 302 Canal Street, located on Canal Street block-through to Lispenard between Church Street and Broadway. The building features over 18’ of front- 210 / 19 age on Canal Street and Lispenard Street. The current retail tenant GNC, has a lease until BLOCK LOT December 2022, paying $18,500 per month. The second floor is configured as a live work space, while the 3rd, through 5th floors are arranged as one and two bedrooms. All apartments are free market and have been recently renovated. The property is steps from the N, Q, R, 6, J, Z subway lines, servicing over 41,457 employees within 18.67’ x 62.5’ a quarter of a mile of the property. Neighboring properties include The Mondrian LOT DIMENSIONS (APPROX.) Hotel, City Rooms SoHo, a dozen newly-developed high-end condominiums, and retailers of all types. In summary, 302 Canal Street represents a rare income producing asset with high quality retail in a high density position located in 1,124 one of the most exciting emerging submarkets in NYC. LOT SQUARE FOOTAGE (APPROX.)

5,642 GROSS SF (APPROX.)

6.02 6,766 COMMERCIAL FAR TOTAL BUILDABLE SF

$817,650 ASSESSMENT (2018/2019)

$85,968 TAXES (2018/2019)

Asking Price: $8,790,000 Highlight • Nearly 19’ of Frontage along Canal Street and Lispenard Street. Robert Burton Maurice Suede Senior Managing Director Associate Director • Over 3,700 Businesses and 41,457 Employees within a quarter mile from the property +1 212 660 7770 +1 212 589 5131 [email protected] [email protected] • Approximately 40,000 Average Daily Traffic Count, Over 15 Million subway riders at the Canal Street Station (Ranked #18 out of all Manhattan subway stops) Bobby Carrozzo Daniel Soyak Senior Associate Associate • Residential portion of the building fully renovated +1 212 589 5118 +1 212 698 5552 [email protected] [email protected] • GNC paying $18,500 per month until end of 2022. Corporate Guarantee.

4 nyinvestmentsales.com 5 Income & Expenses

Revenue Unit Lease Expiration Approx. SF Monthly Rent Annual Rent Ground Floor December, 2022 1,124 $18,510 $222,120 Canal Street Side Lispenard Street Side 2nd Floor March, 2019 1,124 $5,500 $66,000 3rd Floor* Vacant 1,124 $6,500 $78,000 4th Floor - Duplex* Vacant 1,124 $11,000 $132,000 5th Floor - Duplex* Vacant 1,124 TOTALS 5,620 $41,510 $498,120 *Projected due to Vacancy

Expenses

Expense Expense Amount Real Estate Taxes Actual $85,968 Insurance Actual $10,000 Water & Sewer Tenants Pay $0 Electric Tenants Pay $0 Repairs & Maintenance Projected $15,000 Management Projected $15,000 TOTALS $125,968

PROPERTY STATS TOTAL FRONTAGE ON BOTH Sidewalk Ramp 18’ CANAL AND LISPENARD ST. Net Operating Income PER MONTH ON GNC LEASE Gross Monthly Income $41,510 $18.5k

Gross Annual Income $498,120 # OF BUSINESSES WITHIN .25 Retail Tax Reimbursement $7,700 3,700 MILE OF THE PROPERTY Total Projected Gross Annual Income $505,820 Less Expenses $125,968 NET OPERATING INCOME $379,852

6 nyinvestmentsales.com 7 Interior Photos

2 Lispenard Street

8 nyinvestmentsales.com 9 Comparable Sales SUFFOLK ST T

Address Date Price Buildable Square Feet PPBSF

1) 275 Canal Street 8/1/2017 $10,500,000 11,000 $955

2) 106 Franklin Street 1/15/2017 $11,500,000 11,000 $1,045

3) 13-17 Laight Street 9/16/2016 $90,000,000 96,686 $931

4) 243 Canal Street 5/4/2016 $25,000,000 21,700 $1,152

5) 51 White Street 3/29/2016 $22,000,000 16,600 $1,325

3 1 4

2 5

10 nyinvestmentsales.com 11 SUFFOLK ST

Retail Lease Comparables

Ground Square Monthly Annual Address Tenant Year Footage Total SF Rent Rent PPSF

1) 181-183 Canal Street On Market 2018 3,200 10,200 Asking Asking $650

2) 159 Canal Street First Republic Bank 2017 3,165 6,570 $133,333 $1,600,000 $506

3) 273 Canal Street Paris Baguette 2017 2,000 2,000 $33,333 $400,000 $200

4) 168 Canal Street Citi Bank 2016 5,867 15,367 $295,941 $3,551,296 $605

5) 178 Canal Street Chase Bank NA 3,200 9,400 $185,500 $2,226,000 $695

6) 276 Canal Street Cafe Bari 2015 700 700 $21,000 $252,000 $360

7) 202 Canal Street ICIB 2013 3,600 13,500 $162,156 $1,945,876 $540 3

2 6 1

7 5 4

Retail Overview A successful retail execution at 302 Canal Street is assured because its characteristics are aligned with emerging and evolving retail industry trends. For starters, the site delivers on all the essential ingredients of vibrant retail that transcend inevitable changes in consumer behavior: • High-volume pedestrian and vehicular traffic on one of the busiest cross-town traffic corridors • High visibility and signage opportunities located on both Canal and Lispenard Street • Access to virtually all consumer groups including tourists, office workers, residents and students • Meantime, perspective buyers are handed a corporate guarantee from GNC on their lease that is set to expire in December of 2023. GNC is currently paying $18,000 per month, $216,000 annually. Currently, GNC Company has over 4,500 locations across the globe, with annual sales over 2.45 billion.

Source: Cushman & Wakefield Research

12 nyinvestmentsales.com 13 Market Overview

spectacular apartments. Many of New York City’s finest restaurants, in the area. Tenants and retailers have shown increasing optimism antique and craft stores are located in TriBeCa. With easy access to and demand for space following the influx of new businesses and every corner of the island, it remains a sophisticated, cosmopolitan, residents into the area, which has pushed the average asking rent and glamorous New York neighborhood. along major retail corridors to $308 per square foot. TriBeCa The residential market has continued to perform extremely Consisting of over 88 million square feet of office space, Lower well. Sales activity has been extremely steady and the median Manhattan is one of the largest and most active business districts TriBeCa includes the area bounded by Canal Street (north), Vesey Development in the area was spurred by the extension of the IRT sales price hit a ten-year high. Lower Manhattan in particular is in the country. Lower Manhattan is expected to gain 40,000 new Street (south), Lafayette Street (east) and the Hudson River Broadway – Seventh Avenue Line, which opened for service in changing rapidly as more businesses and residents move to the jobs as its workforce continues to represent a diverse group of (west). TriBeCa, an acronym for Triangle Below Canal Street, was 1918, and the accompanying extension of Seventh Avenue and area. The district has rightfully gained the reputation of being the industries. Furthermore, over the next five years, the district is coined in the mid-1970’s as a result of City Planning studies and the widening of Varick Street during subway construction in most affluent and fastest-growing residential community in New poised to bring the most significant employment surge in thirty the adoption of the Special Lower Manhattan Mixed Use District 1914. That resulted in better access to the area both for vehicles York City. The influx of high-end retailers, celebrity chefs, inviting years. Contributing to significant rise is The World Trade Center (LMM). TriBeCa retains much of the Bohemian quality that and for travelers using public transportation. The area was also parks and cultural institutions has been a major factor that has that is expected to bring 2.5 million square feet of new office once characterized the entire complex of cast-iron architecture served by the IRT Ninth Avenue Line, an elevated train line on contributed to this growth. By the end of 2019, Lower Manhattan space online through year end 2019. The employment growth of between Houston and Vesey streets before it went upscale. Greenwich Street demolished in 1940. is expected to see an additional 5,200 new housing units as well as Lower Manhattan is estimated to be 2.4%, which exceeds the city’s 3,900 hotel rooms as tourism is expected to reach nearly 15 million overall average expected rate of 1.3%. This positive growth and The area was among the first residential neighborhoods Because this neighborhood overlaps the City Hall area, with annual visitors. According to the MNS November 2015 rental market development is great news for the future of Lower Manhattan and developed in New York beyond the boundaries of the city during its enormous daytime working population, it has been more report, TriBeCa has seen a year over year increase of 7.2% in rents especially TriBeca. colonial times, with residential development beginning in the late successful in resisting the tide of fad enterprise. Art and bolstered by nearby SoHo showing an increase of 19.7%. Residents 18th century. By the mid-19th century the area transformed into a commerce have, of course, transformed TriBeCa to a certain have shown a strong commitment to the Lower Manhattan area as Tourism is thriving in Lower Manhattan and hotel developers are commercial center, with large numbers of store and loft buildings degree, but they have not overwhelmed it. TriBeCa today is the population has doubled since 2001, allowing the district to remain capitalizing on the expected growth of the industry as major constructed along Broadway in the 1850s and 1860s. most sought after residential address in Manhattan. Many of the on track to become New York City’s premier residential destination. destinations come online including the World Trade Center old historic warehouses and loft buildings have been converted to Observatory, which is now open to the public and is expected to Lower Manhattan’s retail sector is undergoing a revival, with several welcome 3 million visitors a year. Currently, Lower Manhattan has major developments set to transform the entire landscape from only 4% of New York City’s hotel room inventory, but over 20% of what used to be a nine-to-five neighborhood, into one of New York hotel rooms in the pipeline. Over a 10—year span between 2006 and City’s hottest shopping and dining destinations. As major capital 2016, it is estimated that Lower Manhattan has seen an astounding improvements near completion, such as Fulton Center, Brookfield 318 percent increase in the number of hotel rooms. In fact, within Place, Westfield World Trade Center and South Street Seaport, the last 10 years, Lower Manhattan has experienced triple the more than 2 million square feet of new or repositioned retail is number of hotels equating to 5,600 rooms in 26 hotels. This is coming online within the next two years. Additionally, the streets in only the beginning for the development boom, as 18 additional close proximity to the property, such as West Broadway and Church hotels are scheduled for competition, bringing 8,800 rooms in 44 Street, have both seen an influx in notable retailers over the years. hotels by year end 2019. This volume of investment pouring into Retailers to include are Calypso, American Apparel, J. Crew and Lower Manhattan’s hospitality industry is proof that the district Ibiza. There has also been a rise in exclusive boutiques featured has become one of New York City’s most desirable and dynamic in other high-end markets situated in the Hamptons, Miami, and locations for both business travelers and tourists. LA. Both national retailers and high-end boutiques surrounding the property complement TriBeCa’s chic appeal, and add a significant upscale in foot traffic that has been extremely beneficial for the retail Market Overview

NYC’s Top Emerging Designers on Canal Street

Young brands like Luar, Telfar, Gauntlett Cheng, and Vaquera And the stores themselves aren’t your standard retail experience: are what make New York fashion exciting. Emerging designers Vaquera, for one, created a “dollar store,” with a floor covered embody everything good about the industry, but it can be hard in pennies, and Colm Dillane of KidSuper will also be addressing to find their stockists. And so they’re getting a major lift from On fashion’s environmental impact — his space is covered in sewing Canal, a collaboration between Wallplay and Vibes Studios. They machines, and visitors are encouraged to drop off unused clothing took over 20 previously vacant retail spaces — all of which are, as to be repurposed in the brand’s next collection. The On Canal pop- you might expect, on Canal Street — and transformed them into ups launched during NYFW, but a number of them will continue till storefront showrooms. A number of the designers work in the area, the end of the month. They’re open from Tuesday-Saturday, from and the whole thing is kind of a dream shopping experience: on 12 PM to 7 PM. Check out the full list of remaining storefronts and the same block, you can support essential Canal Street vendors addresses below. (they are the best and if gentrification gets them the city will suck considerably more!) while browsing work from some of New York’s most invigorating talents at On Canal.

1) Bijules Jewelry Featuring Charlie Goldcap 5) Craig Thomas Gallery - CTG Nomad 322B Canal Street, between Church & Mercer 361 Canal Street

2) KidSuper 6) Vaquera Dollar Store 310 Canal Street, between Canal & Mercer 359 Canal Street, between Wooster & West Broadway

3) Osmunda 7) Joe Garvey 301 Canal Street, between Mercer & Broadway 359 Canal Street, between Wooster & West Broadway

4) FOO and FOO 8) Gauntlett Cheng 314 Canal Street 357 Canal Street, corner of Wooster & Canal DuePoints Diligence of Interest

1 1 SoHo Shopping

SoHo is renowned as one of the top global shopping destinations. Located just north of 42 Lispenard Street, the city’s most eclectic shopping enclaves plays host to the top designers and boutiques in the world. Big names like Chanel share streets with small stores, and it’s no surprise that many brands have chosen SoHo as their NYC launch pad—Apple and Uniqlo among 1 them. SoHo’s architecture adds to the shopping experience. Cast-iron fronted buildings, many of which date back to the late 19th century, line the cobblestone streets and are as ornate as they are historic. Popular stores include Marc Jacobs, Emporio Armani, Alexis Bittar, Oliver Peoples, Alice & Olivia, Sur La Table, Vilebrequin, Burberry, Uniqlo, Dolce and Gabbana, and Patagonia.

3 2 2 Artists Space 4 2 Artists Space is a non-profit art gallery and arts organization that was first founded in 1972 by Trudie Grace. Artists Space has been the site of provocative discussion and experimentation within contemporary artistic debate, from the postmodern image to identify politics to institutional critique to post-conceptualism. The center has introduced a number of artists to a wider public, amongst them Jack Smith, Joan Jonas, Cindy Sherman, Annette Lemieux, Jeff Koons and Stuart Sherman. 6 5

18 nyinvestmentsales.com 170 Hudson Street | Cushman & Wakefield 19 DuePoints Diligence of Interest

3 5 3 TriBeCa Film Festival 5 Thomas Paine Park

The Tribeca Film Festival was founded in 2002 by Thomas Paine Park is a landmark urban park Jane Rosenthal, Robert De Niro and Craig Hatkoff. offering Foley Square & historical monuments, The Tribeca Film Festival was founded to celebrate plus a year-round farmer’s market. The Foley New York City as a major filmmaking center and Square Greenmarket operates year round at to contribute to the long-term recovery of lower the corner of Centre Street between Worth and Manhattan. The mission of the festival is “to Pearl Streets, and offers baked goods as well as enable the international fi lm community and the local farm picked fruits and vegetables which are general public to experience the power of fi lm by guaranteed to have been harvested within three redefining the fi lm festival experience.” The 2015 days of sale. Foley Square is named for Thomas fi lm festival attracted over 138,000 movie-goers F. “Big Tom” Foley (1852-1925), a prominent over 12 days. Democratic Party leader from the Lower East Side of Manhattan. The square is the site of a number of civic buildings including the classic facades and colonnaded entrances of the United States Courthouse, fronted by the sculpture Triumph of the Human Spirit, the New York County Courthouse, and the Church of St. Andrew.

4 4 The Roxy Hotel 6 6 The Flea Theater

Located at 2 Avenue of the Americas, The Roxy The Flea Theater, founded in 1996, is one of New Hotel is a 201-room hotel located just south of York’s leading off-off- Broadway new American 42 Lispenard Street. The hotel’s guest rooms and theaters for experimental and new works. Since its suites are meticulously designed to reflect the inception, The Flea has presented over 100 plays residential luxury of downtown New York and and numerous dance and live music performances. provide the ideal retreat from city pursuits. The In the 20 years since its founding, The Flea has hotel is an intimate gathering place by day, and a evolved from a small downtown theater in the downtown destination by night featuring hot spots heart of TriBeCa to a bustling multi-disciplinary including Roxy Bar, The Roxy Lounge, The Django, performance complex that is an active member Paul’s Cocktail Lounge, and a 100-seat screening of its Lower Manhattan community. Next up for room. Decorated in a chic contemporary style, The Flea – a brand new performance arts complex rooms have minibars, free WiFi, DVD players and they are currently in the process of building out. iPods; suites add iMacs. Guests can even request an in-room goldfish.

20 nyinvestmentsales.com 170 Hudson Street | Cushman & Wakefield 21 Area Demographics

TriBeCa Demographics

2000 2010 2016 2021 % Change % Change Population Demographics Census Census Estimates Projection 2010-2016 2016-2021

Total Population 10,179 16,362 17,427 19,719 6.5% 13.1%

Population Density (Pop/Sq. Mi.) 31,358.47 45,572.28 53,686.90 60,746.03 17.8% 13.1%

Total Households 5,015 7,651 8,128 9,204 6.2% 13.2%

2000 2010 2016 2021 % Change % Change Household Income Census Census Estimates Projection 2010-2016 2016-2021

$0-$15,000 404 8.1% 478 6.2% 501 6.2% 427 4.6% 4.8% -14.7%

$15,000-$24,999 325 6.5% 238 3.1% 272 3.3% 255 2.8% 14.2% -6.4%

$25,000-$34,999 504 10.0% 374 4.9% 318 3.9% 300 3.3% -14.9% -5.9%

$35,000-$49,999 487 9.7% 381 5.0% 362 4.5% 342 3.7% -4.9% -5.5%

$50,000-$74,999 497 9.9% 588 7.7% 596 7.3% 515 5.6% 1.4% -13.6%

$75,000-$99,999 513 10.2% 548 7.2% 509 6.3% 490 5.3% -7.1% -3.7%

$100,000-$149,999 681 13.6% 1,430 18.7% 1,308 16.1% 1,564 17.0% -8.5% 19.6%

$150,000+ 1,625 32.4% 3,614 47.2% 4,261 52.4% 5,311 57.7% 17.9% 24.6%

Average Income $173,817 $222,249 $235,083 $268,560 5.8% 14.2%

Median Income $89,649 $139,055 $162,108 $190,702 16.6% 17.6%

Income Per Capita $85,640 $104,065 $109,765 $125,465 5.5% 14.3%

2016 Daytime Population Demographics

Total Daytime Population 98,068 Age 16 and Over at the Workplace 81,501

Population age 16 and under (Children) 2,252 Age 16 and Over Unemployed 385

Daytime Population Age 16 and Over 95,815 Age 16 and Over Working from Home 1,064

Students Pre-K to 8th Grade 1,193

Students 9th Grade to 12th Grade 17

Post-Secondary Students 12,590

Homemakers Aged 16 and Over 1,033

22 nyinvestmentsales.com 23 Recent Developments

1 60 White Street

60 White Street is an 8-unit, luxury condo conversion from the Sorgente Group of a five- story, cast-iron building located on the north side of White Street one block north of 71 Franklin Street. The building features a virtual doorman, fitness center, and common area ceiling heights peaking from 10.5’ to16.5’. The residential units have state-of-the-art kitchens, radiant heat flooring, and deep-set windows providing ample natural light.

2 Cast Iron House

Cast Iron House at 67 Franklin Street is a 13-unit luxury condo conversion by Knightsbridge Properties of a nine-story, cash-iron building. The building features a court yard with a green wall, fitness center, steam room, sauna, and private resident storage. Re-designed by Pritzker Prize winning architect Shigeru Ban the interiors feature high-end kitchens, Bianco Oro slab marble countertops, wine coolers, and wide plank white oak flooring.

1 3 56 Walker Street

2 56 Walker Street is a 4-unit, condo conversion by Six Sigma of a six-story, loft building. The building’s interiors, designed by Jordan Carlyle, are a convergence of design and technology. Residences feature intuitive smart technology private-keyed elevators, oak floors, white lacquer cabinets, and dark marble countertops. 4

4 93 Worth Street

93 Worth Street is a 91-unit, condo conversion by the Izaki Group with architecture by ODA- Architecture. The building features oversized windows, solid wood doors, high ceilings, and original exposed steel columns. Modern amenities include a fitness center, children’s playroom, dog-washing station, and landscaped roof deck. Residences feature wide plank white oak floors, white marble countertops, and brass fixtures by WaterWorks throughout.

24 nyinvestmentsales.com 25 Due Diligence Due Diligence the different zoning districts. Use Groups play anintegral partindefining several different UseGroups allowed inC6-2A. The New York CityZoning Resolution outlines and 15’for narrow streets. threshold asetbackof10’isrequired for widestreets a maximumbaseheightof85’.After surpassing this building heightof120feet. BuildingsinC6-2Aare to have C6 districts, C6-2Aisacontextual district withamaximum The FloorArea Ratio or“FAR” for C6-2Ais6.0. Unlike other parking isgenerally notrequired. C6 districts are well served by mass transportation, andoff-street buildings. hotels, departmentstores andentertainment facilities inhigh-risemixed C6 Districts typicallypermittheuseofcorporate headquarters, large residential uses. The zoning district hasrulesfor theconversion ofnon-residential space to general commercial district, typicallymappedoutsideofcentral business districts. The property at 302 CanalStreet lieswithintheC6-2Azoning district. C6-2Aisa Zoning -C6-2A

M 1-5/R7X 2 M1-5 C1-6 C6- R6

C1-6A

M2-4 C6-2A M2-3

M1-5 C6-2A R8B R6

C2-7 R6 C6-3A C2-6

C4-5 BPC C2-6 C6-2 C6-3A

C2-6 R8B

R8 M1-6 C1-6 R8A R6

C6-2A

C6-3A C1-6 C1-7

C6-4

C4-5

C6-2

C6-3 C6-2M

C6-4A C6-2A R6 C6-9

C6-2A

R7-2

M1-5B

C6-3A

C5-3

C6-4 R10 C6-4 C6-4M

M1-5A

M1-5B

C1-7

C1-7 R7-2 C-6-1 M1-5M

C6-2A

C6-4A

C5-5 R7-2

M1-5B

M1-5 C-6-1

C6-2

C6-4

C6-4A

C6-2

C6-2A

R8B

C6-3X

R8A

C6-3 C6-2A

C6-4

C6-2

C6-9 R8 C6-3 C6-2G

C1-9A

C5-3

C6-1 R8B C6-1

C1-6

R7-2 C6-1 R8X R7B

C6-2A

R9A

C1-7A

R7A

C4-6 C6-3A

R8B

C4-4A R8B

C6-1G

R7B

R8A

C1-8A C6-2A C6-2A C4-4A

C4-4A C1-7A R7A C1-6A C1-8 C1-6A

C6-2G R7-2

C6-2G C1-7

R8B

C6-2

C8-4

M1-6

C6-1 R7A C1-6A

C2-8

R8B

M1-4 R7B R8B

R7-2

R7A R7A M2-1 R8 R8A R8B

R8A

C6-4

C6-2

R7A

M1-2/R8

M1-1 R8B

M1-4

M3-2

R7-1

M1-2/R8A C6-2A

R7-1

M1-2

M3-1

M1-4/R8A

M1-5/R9

M1- Park

6 Park -1 Due Diligence

C6-2A As-of-Right Use Groups • 7 – Use Group 7 consists primarily of home maintenance or repair services that have a relatively small service area, and are • 1 – Use Group 1 consists of single-family detached residences. incompatible in primary retail districts since they break the continuity of retail frontage. • 2 – Use Group 2 consists of all other types of residences, such as apartment hotels and affordable independent residences for Examples include: transient accommodations seniors. such as motels and tourist cabins, retail or service establishments such as bicycle • 3 – Use Group 3 consists of community facilities that can provide educational and other essential services for the residents, perform rental or repair shops; electrical, heating, activities more effectively in a residential environment, and do not create significant objectionable influences in residential areas. roofing, plumbing, ventilating establishments Some of these facilities include: colleges or universities excluding business colleges or trade schools, college dormitories, libraries, wholesale establishments; and auto service museums, and art galleries. establishments. • 4 – Use Group 4 consists of community facilities that provide recreational, religious, health, and other essential services for • 8 – Use Group 8 consists primarily of residents. Examples include: Ambulatory diagnostic or treatment health care facilities, community centers or settlement houses, amusement or service establishments. Facilities houses of worship, philanthropic or non-profit institutions without sleeping accommodations, cemeteries, golf courses, public parks vary, from pool halls, and bowling alleys on or playgrounds, and agricultural uses such as greenhouses or nurseries. one end of the spectrum; with lumber stores, • 5 – Use Group 5 consists of hotels used for transient occupancy. upholstering shops, pawn shops, public parking garages and prisons on the other end. • 6 – Use Group 6 and its subsections consist primarily of retail and personal service establishments which provide a wide variety of local consumer needs and have a small service area making them distributed widely throughout the City. Establishments include: bakeries, drug stores, laundry establishments, restaurants*, food stores fire or police stations, court houses and non-commercial clubs • 9 – Use Group 9 consists primarily of business and other services serving a large area. Examples of such include: banquet or catering halls, business schools or colleges, studios or medical/dental laboratories designed for research or testing.

• 10 – Use Group 10 consists primarily of large retail establishments such as department stores. Examples include: carpet stores, clothing stores with no limitation on floor area, department stores, eating or drinking places*, furniture stores, office or business machine stores, and radio and television studios. Also included are large wholesale establishments serving wide areas.

• 11 – Use Group 11 consists primarily of custom manufacturing activities that benefit from a central location and are appropriate in the central business district. They generally do not create any significant objectionable influences, and involve products characterized by a high ratio of value to bulk so traffic is kept to a minimum. Examples include: manufacturing establishments and wholesalers

• 12 – Use Group 12 is characterized by large uses that have a wide service area and generate significant pedestrian or automotive traffic. Examples include: amusement and entertainment facilities, such as arenas and auditoriums; as well as toy stores, drug stores, police stations, water or sewage pumping stations, and public parking lots

*Refer to The City of New York Zoning Resolution for detailed regulations regarding eating and drinking establishments

Cushman & Wakefield deems the information above to be accurate, however, buyers are advised to consult The City of New York Zoning Resolution for a complete list of permitted uses in C6-2A or contact a zoning attorney.

28 nyinvestmentsales.com 170 Hudson Street | Cushman & Wakefield 29 Due Diligence

Certificate of Occupancy Tax Map Certificate of Occupancy

Tax Bill

30 nyinvestmentsales.com 31

302Canal Street (AKA 61 LISPENARD STREET)

Robert Burton Senior Managing Director +1 212 660 7770 [email protected]

Maurice Suede Associate Director +1 212 589 5131 [email protected]

Bobby Carrozzo Senior Associate +1 212 589 5118 [email protected]

Daniel Soyak Associate +1 212 698 5552 [email protected]

Robert Burton Executive Director +1 212 660 7770 [email protected]

Keegan Mehlhorn Associate +1 212 660 7718 [email protected]