First Quarter 2018 Report
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Manhattan College BRONX Tenay Williamsbridge N Park American Realty Capital FIRST QUARTER 2018 REPORT Knickerbocker New York City REIT CC Englewood Clis NEW FIRST QUARTER 2018 UPDATE YORK Bronx Englewood Zoo INWOOD Henry Hudson Pkwy W 207th St New York American Realty Capital New York City REIT, Inc. (“ARC NYCR”) continues to work closelyUniversity with leasing agents, commercial Dyckman St 10th Ave 10th New York University Nagle Ave brokers, tenants and property managers to lease up vacant space, pursue potentialThe acquisitions and maintain ourBronx existing Cloisters Margaret tenant relationships. A key objective of management in the near-term is to Corbinlease-up Rd the portfolio. Successful execution of Fort George Ave this strategy will requireTeaneck some upfront costs, mainly in the form of leasing commissions and tenant improvements, which are Cabrini Blvd Cabrini Riverside Dr Palisades Park FORT used to attract tenants to sign new leases. However, these initial investments areW 187th StGEORGEexpected to provide long-term benefits to the shareholders as increased occupancy levels and net operating income will improve Saint Nicholas Ave theWashington value Brdg of the portfolio. Henry Hudson Pkwy W 181st St Alexander Hamiliton Trans Mahattan Exwy Brdg dg W 177th St ngton Br Our portfolio currently consists of six properties located in Manhattan, Blvd Cabrini the financial capital of the world and the George Washi Riverside Dr Riverside Leonia WASHINGTON epicenter of commerce among New York City’s five boroughs. These assetsHEIGHTS comprise more than one million square Presbyterian feet. As of March 31, 2018, portfolio occupancy was 88.0%, with the largestHospital increaseDr River Harlem in occupancy coming from 1 Riverside Dr Riverside 9 Times Square, which was 74% leased in comparisonFort to 56% leased in Q1 2017. The weighted average lease term Fort Washington Ave Washington Fort Lee Edward M Morgan Pl Riverside DrW Edgecombe Ave remaining was 6.2 years and our leverage remains conservative at 31% debtW 158th St to cost, leaving significant balance sheet Riverside Dr W 155th St Yankee Frederick Douglass Frederick Blvd Macombs Stadium capacity to grow the portfolio. Dam Brdg HAMILTON 8th Ave Palisades Dr Riverside HEIGHTS Park (Sugar Hill) During the first quarter,Ridgeeld a new lease with CSC/Univeral Sports & Entertainment was executed at 9 Times Square for 8,780 Edgecombe Ave Edgecombe W 145th St 145th St Park Brdg square feet, increasing annualized cash rent by $0.5 million. If the lease had commencedRiverside Dr in Q1 2018, it would have extended W 138th St occupancy at the property to 74.4%. ARC NYCR also executed a lease extension at the Laurel E 138thCondominium St with Quik Harlem Hospital Saint Nicholas Ave Nicholas Saint Adam Clayton Powell Jr Blvd Adam Clayton Powell Center WEST Ave Convent W 135th St E 135th St HARLEM City College CENTRAL Park garage for approximately 26,000 square feet. This will preserve an annualized ofcash New York rentHARLEM starting at $0.95 million with Marginal St Manhattanville 5th Ave Third Ave 12th Ave E 130th St Saint Clair Pl Malcolm X Blvd Second Ave fixed bi-annual increases. Cliside E 128th St Willis Ave Ridgeeld Edgewater E 127th St Brdg Park W 125th St E 126th St E 125th St Triborough Brdg Hancock Pl Frederick DouglassFrederick Blvd Little General Grant E 124th St QUEENS Ferry Nat'l Monument PORTFOLIO HIGHLIGHTS (As of March 31, 2018) Seminary Row 120th St Mount Morris Park W Park Morris Mount Downing Henry Hudson Pkwy Hudson Henry Stadium MORNINGSIDE Dr Morningside HEIGHTS Barnard Sewage College Disposal W 116th St Morningside Ave W 116th St Manhattan E 116th St Plant Columbia University Laguardia Property Highlights Financial Highlights - E 34Th St Cathedral Fairview of St John Laguardia The Divine EAST - Wall St W 110th St Frederick Cathedral Pkwy Manhattan Ave Manhattan Central Park N E 110th St HARLEM Douglass Cir 2 (El Bario) Frawley Cir Lasker Rink Triborough Brdg Number of Properties 6 Real Estate Investments& Pool $753 million Moonachie W 106th St Amsterdam Ave E 106th St Manhattan Museo Psychiatric Center Del Barrio Broadway Museum of The City Of New York Rentable Square Feet 1.1 million Leverage Ratio3 Dr FDR 31% Mt Sinai Hospital Metropolitan Riverside Dr Riverside 97th St Transverse Rd Hospital Henry Hudson Pkwy Hudson Henry W 96th St Tennis Madison Ave E 96th St Occupancy 88.0% Weighted Average Courts Jewish Museum UPPER Ferry 4.50% Cooper Hewitt Terminal WEST Museum E 90th St Soldiers and SIDE Gracie Sailors 6th St Transverse Rd Guggenheim Mansion Effective Interst Rate8 Museum Weighted Avg. RemainingCarlstadt Lease Term (Yrs.) 6.2 Monument Queens North Central Ave Lexington Park Ave Bergen W 86th St Park E 86th St 1st Ave YORKVILLE Children's Museum Metropolitan UPPER Riverside Museum Of Art EAST Park Delecorte Central WPark 2 Columbus Ave W 81st St Theater SIDE Obelisk Hayden American W 79th St Planetarium Museum Of E 79th St Ave York REAL ESTATE INVESTMENTS PROPERTYNatural History MAP (in millions) Belvedere Guttenberg Castle 79th St Transverse Rd W 77th St Boat House W End Ave New York Historical Society Whitney Museum Bethesda of American Art Fountain & Terrace NYC W 72nd St REIT E 72nd St Cornell Asia Society Medical Bandshell The Frick Museum College Henry Hudson Pkwy Hudson Henry Collection NYC REIT LINCOLN New York ROOSEVELT SQUARE Hospital ISLAND $800 Center Museum of Julliard Tavern On 5th Ave American The Green LENNOX West New School Folk Art 65th Street Transverse Rd 3rd Ave 3rd HILL Rockefeller York Lincoln The Zoo University Center Dairy E 63rd St Abigail NY State Wollman E 62nd St Adams Smith Theater Rink House Museum 2nd Ave 2nd Henry Hudson Pkwy Hudson Henry E 61st St $750 Fdr Dr E 60th St Fordham Queensboro bu Queensboro Brg Conn m s C Central Park S Univ lu ir o Brdg C W 58th St Plaza Hotel Plz Army Grand NYC W 57th St E 57th St REIT NY Convention Trump & Visitors Carnegie Tower $700 Bureau Hall Museum Of Modern Art E 53rd St Museum of TV & Radio American Craft Museum St Patricks Passenger Cathedral Ship Terminal Radio City Music Hall Ave First Waldorf - $650 Rockefeller Astoria Hotel E 48th St TIMES Center Rockefeller Plz NYC Intrepid 8th Ave Sea-Air-Space SQUARE REIT MIDTOWN Museum 9th Ave Grand NYC Central United REIT Vanderbilt Ave Nations 12th Ave 11th Ave 7th Ave Chrysler Park Ave $600 W 42nd St United Nations Plz Weehawken Building E 42nd St Queens Midtown Tunnel Dyer Ave Dyer 10th Ave Bryant Park E 40th St Lincoln Tunnel The AmericasAvenue Of NY Public MURRAY Lincoln Tunnel Library W 39th St GARMENT HILL Ferry HELLS W 38th St Pierpont Terminal DISTRICT Morgan Secaucus Jacob Javits KITCHEN Library $550 Convention Center Fashion Ave Fashion Empire State Park Ave Park 1st Ave 1st Dyer Ave W 34th St Building General E 34th St Post Oce Madison Square Garden NYU W 31st St 3rd Ave Penn Ave 2nd Medical Station $500 W 30th St 8th Ave Center Chelsea MIDTOWN KIP'S Park SOUTH E 28th St BAY Union Bellevue City CENTRAL Hospital Madison E 25th St $450 Square VA 7th Ave Park Hospital W 23rd St E 23rd St CHELSEA S Ave Park FLATIRON Theodore DISTRICT Roosevelt Gramercy STUYVESANT Birthplace Park TOWN $400 GRAMERCY Union Square PARK 11th Ave Avenue C Avenue Union Sq E E 15th St W 14th St The AmericasAvenue Of E 14th St Union SqW E 14th St Greenwich Ave GREENWICH Ukranian $350 VILLAGE Museum Stevens Institute Ave 4th St Marks E 9th St Church of Technology Ct Lafayette W 8th St 8th St Cooper Saint Marks Pl Tompkins Astor Pl Union Square Landmark 7th Ave S Ave 7th Washington EAST WEST Bleecker St Sq N $300 Washington Washington Pl VILLAGE VILLAGE Washington SqW Square Washington Sq S Washington Sq E Cooper Sq E 4th St E 4th Walk Hoboken New York Christopher St University Avenue D Avenue Avenue A Avenue Avenue B Avenue Avenue C Avenue Greenwich St Greenwich NOHO E Houston St Varick St Laguardia Pl Hudson St Clinton St $250 Columbia St FDR Dr Prince St New Museum of Contemporary Mulberry St W Houston St Art Sarah D Rivington St Allen St Roosevelt Delancey St Lafayette St Lafayette Pkwy Williamsburg Brdg Delancey St The Americas The NYC Fire Of Avenue Delancey St Museum SOHO Kenmare St Bowery $200 Pl Cleveland LITTLE Broome St Tenement ITALY Museum Canal St Grand St BOWERY West St West Watts St Seward Holland Tunnel W Broadway Park LOWER EAST Corlears Varick St Varick SIDE Hook Park Chinese Front St Alternative E Broadway $150 CHINATOWN History Museum Museum Pike St Brooklyn South St Duane St Support US Court House Park Row Activity Manhattan Brdg $100 Chambers St TRIBECA City Hall Avenue Of The Finest Saint James Pl NYC Kearny Woolworth Barclay St Church St REIT Bldg Park Row Brooklyn Brdg Natl $50 WTC 9/11 Fulton St Memorial North Cove Maiden Ln Yacht Harbor Liberty St Pearl St Liberty Plz Liberty Federal Reserve American Bank South Stock Ex Greenwich St Street Jersey BATTERY New York Trinity Pl Trinity Stock Ex Wall St Seaport PARK Ferry $0 City Water St Terminal CITY Exchange Aly Morris St Saint Peters St Greenwich College Brooklyn Battery Pl FINANCIAL 1Q ‘15 2Q ‘153Q ‘15 4Q ‘15 1Q ‘16 2Q ‘163Q ‘16 4Q ‘16 1Q ‘172Q ‘173Q ‘17 4Q ‘17 1Q ‘18 US Whitehall St Custom State St Battery House DISTRICT Park Castle Clinton Nat'l Monument Ferry Terminal 1 Ferry Real Estate Investments ($MMs) Terminal Brooklyn Battery Tunnel 1 Ellis Island Includes leases executed, but not yet commenced, as of March 31, 2018.