68 COOPER STREET

EXCLUSIVE OFFERING MEMORANDUM

INWOOD, 68 COOPER STREET RESIDENTIAL DEVELOPMENT SITE 68 COOPER STREET

Executive Summary 3 Area map 4 68 COOPER STREET Location Overview 5 Transportation Map 8 Confidentiality & 9 Disclaimer

CONTACTS Lev Kimyagarov Ariel Hakimi Joshua Abrams Senior Director Associate Director Investment Sales Associate [email protected] [email protected] [email protected] 212.602.1428 646.780.4936 646.780.4957

EASTERN CONSOLIDATED | 355 | NEW YORK, NY 10017 | WWW.EASTERNCONSOLIDATED.COM EXECUTIVE SUMMARY

Eastern Consolidated, as an exclusive agent, is pleased to offer for sale the development The “A” Subway can be conveniently located one (1) block away from the site at opportunity at 68 Cooper Street. The subject property is located on the north side of Cooper and West 207th Street, which are both trendy retail & commercial corridors, Street between West 204th Street and West 207th Street in the Inwood neighborhood of while the “1” subway can be accessed four (4) blocks away at the corner of 10th . The 50’ x 100’ site is zoned R7-2 with a total buildable square-footage of 17,200 for Avenue and West 207th Street. This makes the commute to Midtown and Lower residential use and 32,500 with the community facility bonus. The site features a great residential Manhattan a breeze. Additionally, the site enjoys proximity to attractions such as The development opportunity as Inwood is undergoing a 59 block, 227-acre rezoning process to Cloisters Art Museum, Dyckman Farmhouse Museum, , Isham Park, stimulate the local economy. This is due to years of shortage of new housing and commercial Fort Tyron Park, and The Columbia University Baker Athletics Complex. The site is also spaces. If the zoning proposal is implemented, the zoning of this site would change from “R7-2” surrounded by many trendy restaurants such as Bocaditos Bistro, Garden Café, Beans to “R7A”, which gives developers the potential for additional buildable square-feet. The city has and Vines, and Seawalk. already started making investments in the neighborhood to improve the infrastructure. The offering presents developers with an opportunity to acquire a well-located This development site also benefits from its superior access to public transportation. development site in the heart of the Inwood neighborhood of Manhattan.

Address 68 Cooper Street, New York, NY 10034 SEAMAN AVENUE Location Located on the north side of Cooper Street between West 204th Street and WEST 204TH STREET WEST 207TH STREET West 207th Street Block/Lot 2240-27 Lot Size 50’ x 100’ Lot SF 5,000 27 Current Proposed (Currently @ ULURP) Zoning R7-2 R7A COOPER STREET FAR 3.44 4.0 With CF Bonus 6.5 4.0 Total Buildable SF 17,200 20,000 With CF Bonus 32,500 20,000 Allowable Heights 65’ 80’ RE Taxes (17/18) $9,389 Asking Price $4,000,000

3­ 68 COOPER STREET Executive Summary AREA MAP

Robert K. The Allen Hospital Kraft Field a Indian w k Road Cafe r INWOOD Colmbia Universit a aker Athletics P HILL PAR n ComplexStadim o s d H ood Universe Market Place a w r d n a e ro H M 1 CUNY in the Heihts 68 Cooper Street Inwood ids Dacare M A Made in Mexico ocaditos istro Mamasshi e en Papasito Av ea enesis M mil A Ver The Cloisters Paint Hardware M 1 Don Coi Maracas e ne n D ve ve A Monsignor Kett Playground A c ost an k P e erm m Sh a n en ORT v S A 809 Sanria ar rill tr h TRYON PAR e NYC Health t e 0 t 1

4­ 68 COOPER STREET M Area map LOCATION OVERVIEW

Inwood is bounded by the and Hudson rivers, and , Hill Park, Isham Park, Park and the Columbia University Athletics which separates it from and Washington Heights. Inwood was a Complex/Campbell Sports Center. rural section of Manhattan until the early 20th century. Once the IRT Broadway – Seventh Avenue Line, the modern 1 trains, reached Inwood in 1906, speculative SCHOOLS developers constructed numerous apartment buildings on the east side of Inwood schools include: P.S. 18 (430 students in per-kindergarten through eight Broadway. Construction continued into the 1930s, when the IND Eighth Avenue grade), P.S. 98 (600 students in pre-kindergarten to eighth), the High School for Line, the modern A trains, reached Dyckman and 207th Streets along Broadway Excellence and Innovation (200 students). and the large estates west of Broadway (Seaman, Dyckman, Isham, etc.) were sold off and developed. Many of Inwood’s impressive Art Deco apartment buildings TRANSPORTATION were constructed during this period. The A train runs under Broadway and has two stops at Dyckman and West 207th Street. The express train reaches the Port Authority in approximately 25 minutes. The population of Inwood is approximately 40,000 people and the neighborhood The No. 1 train runs above 10th Avenue and has stations at Dyckman, West is lower density, which can be partially explained by the numerous parks in the 207th and West 215th Streets. area. Additionally, low-rise buildings, generally five or six stories and limited new construction keeps the population stable. Residents can cross the Broadway Bridge to the Marble Hill stop on Metro- North Railroad’s Hudson line, which takes about 25 minutes to reach Grand NEIGHBORHOOD ATTRACTIONS Central Terminal. , the and the There are several popular parks located throughout the neighborhood including George Washington Bridge are also within close proximity to Inwood and the For Tryon Park, which is home to the International Center of Medieval Art, Inwood Portfolio.

5­ 68 COOPER STREET Location Overview Inwood neighborhood is currently undergoing a rezoning process due to years of shortage on new housings and commercial and community facility spaces. In addition, the city has already been making its real investments in the neighborhood to strengthen the infrastructure including a $30M investment to transform through Anchor Parks, upgrades of safety features for pedestrians on streets and intersections, and many more are on the ways. The neighborhood is embracing the opportunities for economic development and job growth.

6­ 68 COOPER STREET Location Overview Proposed Zoning Proposed Zoning

The Proposed Zoning is tailored to the issues in each distinct area of Inwood:

• Upland Core

• Commercial U

68 COOPER STREET 68 COOPER STREET • Upland Wedge

• Tip of Manhattan

• Sherman Creek

17 55 7­ 68 COOPER STREET Location Overview

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N • Inwood 183 St E 2 5 IN T P 207 St O S E X University 68 COOPERTremont Farms STREET E 207 St Y C 182–183 Sts R Zerega Av M THROGS A 1 4 D Heights D • e A W B D 180 ST S 6 N This map depicts weekday service. D t T NECK r A A o Burnside Av L R O - S A Castle Hill Av R BRIDGE R N q t E G A E 180 S W Z N On weekends and late nights, these routes change:

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LAS S R W 145 St 2 5 c St 1 O 145 ST 145 St re 4 N Y 145 St ER IC K 148 St i 1 ak d 6 Mar3 • • • M 3 pe S BLV D A B C D P 3 weekday A 138 St–Grand t O

A © 2016 Metropolitan Transportation Authority November 2016

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D A Co 1 v FLATBUSH Beach 98 St V LIBERTY n • G V Q L e F A ush ISLAND PROSPECT AV • B t GOVERNORS b A S a Prospect Av V d klyn t A H ISLAND ect Par FLA C S R E R TBUS oo p y H A Flat A ID d V r S B E K Church• Q R • 5 Beach 105 St B FLATLANDS Pros R B u 2 Y A • o A P everle y a A S B l H W V Fort Hamilton Q A Rockaway Park A 25 St rte K F o Beach 116 St C St. George O Pkw R y C O U • Q kirk Plaz A•S R R F G d B N E w O T H E GREEN-WOOD un S R

H 1 D Tompkinsville Y C 5 T O Ne bo F D WEST NEW W S • Q O R A CEMETERY N h A K T B t R L BRIGHTON V E u N P Y D D E

M SNUG HARBOR Stapleton N so A N C O IS A O v Avenue V V N PORT CULTURAL CENTER T D C L A O E A A E IL • G Q AC RICHMOND N A N FLOYD H R RR M F N D ICHMOND TE SILVER A MIDWOOD J C Clifton 36 St A L P A M BENNETT LAKE D H K H V V O V MARINERS S51 W V PARK A • • A C A FIELD C T A D N R T V Y HARBOR S T E A ROCKAWAY E L R Church A OR I 39 ST E F B O N PARK R F N W v I A CLOVE E FOX EST END LINE V O LAKES D HILLS A F B Q M Y S WESTERLEIGH N ROSEBANK v R A T PARK A 45 St I R M V A v G W A MARINE AR WAY V D H IN PRESS ERRAZ A H N E EX ANO-N R SUNSET 9 F T D GIL PA D ARR n tmas y O G PARK R CASTLETON N OWS i Avenue I H KW A BR PARK y N H M O A STATEN CORNERS LVD SL IDG to D 18 E DG Y RY B I E l M E - JACOB VICTO w F L Avenue S OR S EN D Pkw I A T N G BRI IA A E Q y V D L RIIS ST Grasmere ami Pk Coney Is. bound N GE ay I ISLAND 53 St H t NBOROUGH skips stops due B K Hw PARK

TODT R D PARK F U

COLLEGE OF 9 to construction V BULLS HILL Old Town Fort 50 S ngs A i R HEAD A N I until 2017 K

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H S B M 59 St D P Z O E V V CHELSEA Dongan Hills 55 U A NEW N 1 A SEA • 6 D N R S SPRINGVILLE Avenue y N VIEW D S PARK A V T O V STATEN HOSPITAL L F M B y Hw ISLAND Jefferson Av Avenue M

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MALL v v n v v F Ba A A Grant City N to y A N t N A ngs Q R d N 8 l 8 N i A w S 0 ay S51/8 1 y L N 1 2 y K a Y 2 D B H Pk w F w Bay Ridge Av 6 N il Hami Neck SHEEPSHEAD U New Dorp a Pk Y R Q R Utrecht BAY W P d NEW w s X Fort Manhattan bound n e t Sheepshea• Q E a DORP y l ng F N S i E B Oakwood Heights Is N skips stops due w BEACH O N R Avenue LA TOURETTE 77 St D K H O S57 n U 71 X H e to construction F PARK t R S BAY RIDGE BENSONHURST R a T D T RICHMONDTOWN t until 2017 v FRESH S ARDEN S VERRAZAN H Brighton Beach V E O-NARRO L WS t KILLS HEIGHTS A W • B A S B Q RD Bay Terrace T V L Avenue U Avenue BRIGHTON T ARTHUR KIL M GREAT BRIDG D E tune A P KILLS 86 ST 79 86 ST F BEACH 86 St N p Y Av D A R Ne W S54 X7 X 8 18 y 86 St A Av D 25 Av F Ocean Pkwy K D N C D Q O Bay Ridge 20 Pkw R D R DYKER L 95 St Bay 50 St L I Eltingville BEACH Bay BREEZY K R D R PARK POINT U West 8 St H Annadale T

R NY Aquarium A S55 WOODROW • ROSSVILLE D Coney Island F Q LV B Huguenot N LA Stillwell Av Y S55 X17 X1 9 H D•F•N•Q CHARLESTON Prince's Bay CONEY ISLAND S5 6 Pleasant Plains

Nassau Richmond Valley S78 TOTTENVILLE BEACH Atlantic S78 Tottenville S78 CONFIDENTIALITY & DISCLAIMER

This Confidential Offering Memorandum has been prepared exclusively by Eastern the Property and/or terminate discussions with any entity at any time with or Consolidated (“Eastern Consolidated”) on behalf of Ownership, the (“Owners”), without notice. The Owners shall have no legal commitment or obligation to regarding the purchase of the property described herein at 68 Cooper Street, New York any entity reviewing the Confidential Offering Memorandum or making an offer (the “Property”). The materials and information contained in this Confidential Offering to purchase the Property unless and until a written agreement for the purchase Memorandum do not purport to be all-inclusive or to contain all of the information of the Property has been fully executed, delivered and approved by the Owners which prospective investors may need or desire. All materials have been developed and its legal counsel and any conditions to the Owners’ obligations thereunder by Eastern Consolidated, the Owners and other sources and are subject to variation. have been satisfied or waived. Eastern Consolidated is not authorized to make any representations or agreements on behalf of the Owners. No representation is made by Eastern Consolidated or the Owners as to the accuracy or completeness of the information contained herein and nothing contained herein This Confidential Offering Memorandum and its contents, except such is or shall be relied on as a promise or representation as to the future performance information which is a matter of public record or is provided in sources available of the Property. Although the information contained herein is believed to be correct, to the public (such contents as so limited herein called the “Contents”) are of Eastern Consolidated and the Owners and their employees disclaim any responsibility a confidential nature. By accepting the Offering Memorandum, you agree (i) to for inaccuracies and expect prospective purchasers to exercise independent due hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, diligence in verifying all such information. (iii) not to disclose the Confidential Offering Memorandum or any of its contents to any other entity (except to outside advisors retained by you, if necessary, Further, Eastern Consolidated, the Owners and their employees disclaim any and for your determination of whether or not to make a proposal and from whom all liability for representations and warranties, expressed and implied, contained you have obtained an agreement of confidentiality) without the prior written in or omitted from the Confidential Offering Memorandum or any other written or authorization of the Owners or Eastern Consolidated, (iv) not to use the oral communication transmitted or made available to the recipient. The Confidential Confidential Offering Memorandum or any of its contents in any fashion or Offering Memorandum does not constitute a representation that there has been no manner detrimental to the interest of the Owners or Eastern Consolidated, and change in the business or affairs of the Property or the Owners since the date of (v) to return it to Eastern Consolidated immediately upon request of Eastern preparation of the Offering Memorandum. Analysis and verification of the information Consolidated or the Owners. contained in the Confidential Offering Memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the If you have no further interest in the Property, please return the Confidential Offering Property will be made available upon request to interested and qualified investors. Memorandum forthwith.

The Owners and Eastern Consolidated each expressly reserve the right, in their No inspections of the Property are permitted unless accompanied by the Owners or sole discretion, to reject any and all expressions of interest or offers regarding a representative from Eastern Consolidated.

9­ 68 COOPER STREET Confidentiality & Disclaimer INVESTMENT SALES RETAIL LEASING CAPITAL ADVISORY

O. 212.499.7700 355 LEXINGTON AVENUE F.10 212.499.7718­ 68 COOPER STREET WWW.EASTERNCONSOLIDATED.COM ConfidentialityNEW &YORK, Disclaimer NY 10017