Manhattan Westside Two Prime Retail Condominiums 126 West 23Rd Street

INVESTMENT OPPORTUNITY MANHATTAN WESTSIDE TWO PRIME RETAIL CONDOMINIUMS 126 WEST 23RD STREET | 209 WEST 79TH STREET

Chelsea Upper West Side MORNINGSIDE HEIGHTS HARLEM

EAST HARLEM SOUTH UPPER EXECUTIVE SUMMARY WEST YORKVILLE 1 CARNEGIE HILL SIDE 2 126 WEST 23RD STREET 209 West 79th Street UPPER EAST LINCOLN SIDE CENTER / 8 CHELSEA MARKET OVERVIEW CENTRAL PARK COLUMBUS MADISON AVENUE CIRCLE PLAZA DISTRICT 209 WEST 79TH STREET 9 WEST HELL'S MIDTOWN MIDTOWN EAST

KITCHEN MIDTOWN FIFTH AVENUE WEST GRAND CENTRAL TIMES SQUARE MIDTOWN TIMES DISTRICT 16 UPPER WEST SIDE MARKET OVERVIEW SQUARE BRYANT HUDSON FASHION PARK YARDS DISTRICT DISTRICT HERALD SQUARE / 17 CONTACTS PENN STATION SOUTH KIPS BAY MIDTOWN MURRAY HILL MURRAY

CHELSEA NOMAD 126 West 23rd Street GRAMERCY UNION DISTRICT SQUARE FLATIRON EAST WEST VILLAGE VILLAGE NOHO VILLAGE / GREENWICH LOWER HUDSON EAST SQUARESOHO SIDE BOWERY NOLITA

TWO TRIBECA CITY BRIDGES HALL

FINANCIAL

DISTRICT BATTERY PARK CITY PARK BATTERY EXECUTIVE SUMMARY

As exclusive marketing and sales agent, Newmark Knight Frank is pleased to present a package of two Manhattan retail condominiums located at 126 West 23rd Street, Chelsea and 209 West 79th Street, Upper West Side.

126 West 23rd Street

126 West 23rd Street (the "Property") is located on West 23rd Street between Sixth and Seventh Avenues in Chelsea. The single tenant retail condo, at the base of a newly constructed 29-unit luxury condominium, contains ±3,757 square feet of the Ground Floor area and is leased to Orangetheory Fitness, a global fitness franchise with 1,150 locations in the United States and another 150 locations around the world. The property has ±25 feet of frontage on the south side of West 23rd Street, ±12 foot ceiling heights and full-height window visibility. Orangetheory is in year 6 of a 10 year lease and has one 5-year extension option.

The Property is situated in a C6-3X zoning district which permits retail and commercial use groups 5-12.

209 West 79th Street

209 West 79th Street (the "Property") is situated between Broadway and Amsterdam Avenues on the Upper West Side. The Property consists of a ±5,817 square foot retail space on the ground floor of a newly constructed 19-unit luxury boutique condominium building. The retail space is leased to children's fitness center My Gym, a global franchise with 600+ locations, and Recovery Physical Therapy, which has 8 locations in Manhattan and branches in Queens, New Jersey and Westchester. Both tenants are at the beginning of 10-year lease terms. The retail space has ±35 feet of frontage along the north side of West 79th Street. Additionally, there is a 680 square foot storage space in the cellar.

The Property is located in an R10-A/C1-5 zoning district which permits retail and commercial use groups 5 and 6.

Both properties present investors with the opportunity to acquire fully-leased retail assets with leases that are in-line with current market rates in both submarkets, strong tenancy with global franchises and lessee guarantees. Additionally, both condominiums are located within best-in- class luxury buildings constructed by one of Manhattan's preeminent developers.

The condominium units may be purchased together as a package and are also available for purchase individually.

1 CONFIDENTIAL OFFERING MEMORANDUM 126 WEST 23RD STREET

Fitness tenant Orangetheory (1,150 US locations), superb central location in Chelsea

One block to the 23rd Street Station, F, M, PATH trains at Sixth Avenue and the 1 train at Seventh Avenue

At the base of "Citizen" condominium, a 29-unit luxury condominium building

Ground Floor Retail Space: ±3,757 SF

2 CONFIDENTIAL OFFERING MEMORANDUM EMPIRE STATE BUILDING (ATM) Lugo Young Street Blarney Stout Cucina Poke Rock NYC Feile WEST 33TH STREET WEST 33TH STREET Petit Foley’s Poulet CHELSEA MANHATTAN NEW YORK | N Y MALL 09.30.19 MADISON MANHATTAN SQUARE PENN WEST 32ND STREET STATION GARDEN Cafe R Woorijip WEST Ess-A-Bagel WEST 13TH – WEST 31ST STREET, SIXTH – NINTH AVENUE Henry

WEST 31ST STREET WEST 31ST STREET

U BROADW

N O’Reilly’s Pub

E VENUE

V VENUE

A VENUE

T A Y H DP Handmade

I Molly Wee Cigars NINTH A SIXTH A

E WEST 30TH STREET SEVENTH A WEST 30TH STREET Howard Supply Bravo Pizza Woodpecker by David Burke

La Boutique Mustang Caked Up! Harry’s OCabanon Martinez Luna Coffee Restaurant Cigars Shop WEST 29TH STREET WEST 29TH STREET WEST 29TH STREET Canaan Sushi

2 Beans WEST 28TH STREET WEST 28TH STREET WEST 28TH STREET R W Chahine WANT Sportswear Apothecary CHELSEA PARK FASHION INSTITUTE PROPERTY DETAILS OF TECHNOLOGY Oscar Wilde Cardoncello Address 126 West 23rd Street WEST 27TH STREET WEST 27TH STREET Hee Korean BBQ KarVér Block/Lot 798/1701 FASHION INSTITUTE Unit #C1 OF TECHNOLOGY Maui Onion South Block between Sixth and Black Door DNTL Poke Bar Bazar WEST 26TH STREET WEST 26TH STREET WEST 26TH STREET WEST 26TH STREET

Location E

SeventhU Avenues La Pecora Bianca

E VENUE

V The Chelsea Bell VENUE VENUE

Frontage ±25A FT

Ju-Men Ramen T Citizens of Chelsea H

I Chelsea Fine Food SIXTH A NINTH A

Space E WEST 25TH STREET WEST 25TH STREET SEVENTH A WEST 25TH STREET WEST 25TH STREET Ground Floor 3,757Le BonSF Nail + Spa Maman

Choithrams Towne House Grooming & Pet Supplies Wine+Liquor Brooklyn Bagel & Coffee Company Ceiling Heights 12 FT, 10 IN Pilar Beauty Paws The Flat Grand Sichuan Common Interest Commercial Unit 100.00% One Star In Chelsea Junoon WEST 24TH STREET WEST 24TH STREET WEST 24TH STREET WEST 24TH STREET Zoning District C6-3X CVS Barcade Duggal pharmacy Gallery Applicable Permitted Use Groups 5, 6, 7, 8, 9, 10, 11, 12 126 West 23rd Street Annual Common Charges $13,520 Poster Utilities SVA Theatre $13,380 House WEST 23RD STREET WEST 23RD STREET WEST 23RD STREET WEST 23RD STREET Real Estate Taxes $62,300 Rail Line Diner Chelsea Square Avalon Memo Shish Kebab Bakery Garber Hardware NetaRoqa Operating Income $386,948 Jake's Saloon NYC (ATM) Chengdu Street Kitchen Asking Price $7,700,000(ATM) QQ Nails + Spa Chelsea Fitness $PSF Chelsea Florist$2,050 WEST 22ND STREET WEST 22ND STREET WEST 22ND STREET

E Lovely Nails + Spa VENUE

VENUE Rooq

A VENUE Fonda Chelsea Exclusive

Blossom T H Bakery Bloomie Nails G Trader Joe’s Le Grainne Cafe Art Lovers Café I Tilebar Test Kitchen NINTH A SIXTH A E WEST 21ST STREET WEST 21ST STREET WEST 21ST STREET SEVENTH A WEST 21ST STREET Creamline

Bar Veloce Wine on Nine Sushi 21 Charms La Bergamote Adam’s Market Place Temerario Tequila Bar Spa Belles Brrrn WEST 20TH STREET WEST 20TH STREET WEST 20TH STREET Merci Market COMING SOON Chuck & Blade

Michael Gabriel Peter McManus Cafe WEST 19TH STREET WEST 19TH STREET WEST 19TH3 STREET Gotham Pizza CONFIDENTIAL OFFERING MEMORANDUM Maison 140 Cooper's Craft & Kitchen 18th Room

Kyma WEST 18TH STREET WEST 18TH STREET WEST 18TH STREET Scampi

Co Ba WEST 17TH STREET WEST 17TH STREET WEST 17TH STREET Catch Steak Shape House MARITIME HOTEL DREAM Hollywood Diner HOTEL PHD WEST 16TH STREET WEST 16TH STREET WEST 16TH STREET

CHELSEA MARKET E J's Pizza

N Pad Thai

E Noodle Lounge VENUE VENUE V Lucky Wang VENUE

A Mardana For Men Corkbuzz H

T Giovanni Rana Pastiﬁcio & Cucina H

G Valley Nails SIXTH A NINTH A

WEST 15TH STREET WEST 15TH STREET SEVENTH A WEST 15TH STREET Gourmet Deli & Pizza Shorty Tang Noodles Old Homestead Steakhouse

Black Square Gansevoort The KGB La Maison Offside Pizza Market Spy Museum De Makoto Tavern WEST 14TH STREET WEST 14TH STREET WEST 14TH STREET Lilla P Istanbul Rocky's Wood and The Sushi La Grill Ales Bar Sequoia Para 88 Carbonara Mikado Bistro Intersect Crispo by Lexus Restaurant Rags-A-GoGo Tiziano Zorzan Soho House Café Water Kobrick Soapology Umami Shoppu Coffee Caserta Eye

Valbella STREET HUDSON Village Pizza WEST 13TH STREET WEST 13TH STREET WEST 13TH STREET Doyle The Chester Coarse & Doyle Kore Azaleas A Salt and Battery The Ink Pad Bar Six COMING SOON Wonderland T STREET Tea & Sympathy Beauty Parlor Tibetan Murray's Bagels Darling Handcrafts Odin Time Pieces Downtown Stationers Inc. La Belle Epoque GANSEVOOCORPORALR JOHN Unlimited Jeans Sugar Little West Village Den Factory Wine & Spirits A. SERAVALLI CraftAtlantic Johnny's Bar PLAYGROUND Restaurant WEST 12TH STREET Art Bar WEST 12TH STREET WEST 12TH STREET Jason Scott

NGKF.COM

Terms of sale or lease and availability are subject to change or withdrawal without notice. FINANCIALS

Rent Roll

Unit Tenant Rentable Square Feet Rent/PSF Annual Base Rent Monthly Base Rent LXP

Ground Floor Orangetheory Fitness 3,757 SF $119 $446,324 $37,194 12/31/2024

Total/Blended - 3,757 SF $119 $446,324 $37,194 -

Income & Expenses Real Estate Tax Reimbursement Calculation Base Rental Income $451,903 RE Tax Base Year 2014/2015 (7-1-2020 to 6-30-2021) Base Year Amount $38,055 RE Tax Reimbursements $24,245 (Current) Current Tax Year 2019/2020 Total Income $476,148 Current RE Taxes $62,300 Increase $24,245 Expenses $PSF Proportionate Share 100% RE Taxes $62,300 $16.58 Reimbursement Amount (Annual) $24,245 Common Charges $13,520 $3.60 Reimbursement Amount (Monthly) $2,020 Utilities (2019) $13,380 $3.56

Total Expenses $89,199.61 $23.74

Net Operating Income $386,948

4 CONFIDENTIAL OFFERING MEMORANDUM RENT SCHEDULE

BASE TERM

126 WEST YEAR BEGIN END MONTHLY RENT ANNUAL RENT % INCREASE $PSF GROUND $PSF BLENDED 23RD STREET 1 1/1/15 12/31/15 $30,040 $394,485 - $105 $106 2 1/1/16 12/31/16 $33,696 $404,347 2.0% $108 $108

FLOOR AREA RETAIL 3 1/1/17 12/31/17 $34,538 $414,456 2.5% $110 $110

Ground Floor 3,757 SF 4 1/1/18 12/31/18 $35,401 $424,817 2.5% $113 $113

5 1/1/19 12/31/19 $36,287 $435,438 2.5% $116 $116

UNIT 6 1/1/20 12/31/20 $37,194 $446,324 2.5% $119 $119

C1 7 1/1/21 12/31/21 $38,124 $457,482 2.5% $122 $122

TENANT 8 1/1/22 12/31/22 $39,077 $468,919 2.5% $125 $125 OTF MAN ONE, LLC d/b/a Orange Theory Fitness 9 1/1/23 12/31/23 $40,054 $480,642 2.5% $128 $128

10 1/1/24 12/31/24 $41,055 $492,658 2.5% $131 $131 TERM COMMENCEMENT DATE 6/26/14 EXTENSION OPTION PERIODS - GREATER OF $504,974.00 OR 95% FMV; 2.5% ANNUAL INCREASES RENT COMMENCEMENT DATE YEAR BEGIN END MONTHLY RENT ANNUAL RENT % INCREASE $PSF GROUND $PSF BLENDED 12/26/2014 or open for business 1 1/1/25 12/31/25 $42,081 $504,974 - $134 $134

LEASE EXPIRATION DATE 2 1/1/26 12/31/26 $43,133 $517,598 2.5% $138 $138 12/31/24 3 1/1/27 12/31/27 $44,212 $530,538 2.5% $141 $141

BASE TERM 4 1/1/28 12/31/28 $45,317 $543,802 2.5% $145 $145

10 years, 6 months 5 1/1/29 12/31/29 $46,450 $557,397 2.5% $148 $148

RENEWAL OPTIONS One 5-year REAL ESTATE TAX REIMBURSEMENT CALCULATION REIMBURSEMENT BASE YEAR BASE YEAR TAX AMT CURRENT YEAR CURRENT TAX AMT INCREASE % SHARE ANNUAL RENT INCREASES AMOUNT

2.5% normalized 2014/2015 $38,055 2019/2020 $62,300 $24,245 100.00% $24,245

5 CONFIDENTIAL OFFERING MEMORANDUM TENANT PROFILES

MORE THAN A GYM Orangetheory is a science-backed, technology-tracked, coach- inspired group workout designed to produce results from the inside out. Orangetheory is a 1-hour, full-body workout, focused on training endurance, strength and power. The workout consists of heart rate-based interval training, which burns more calories post-workout than traditional exercise. When wearing Orangetheory’s exclusive OTbeatheart rate monitors, your real-time results are displayed on large screens throughout the studio. Intensity is based on a person’s own individual heart rate zones, making the workout effective for all fitness levels. To top it off, our certified coaches lead the workout to prevent from over or under training.

Workout rooms have a variety of equipment, including treadmills (bikes and striders as alternatives), WaterRowersand floor equipment, including dumbbells, benches, TRX suspension straps, medicine balls, BOSU trainers and Ab Dollys.

Orangetheory has over 1,200 locations worldwide. Membership is good at any Orangetheory studio in the country where you purchased your membership.

6 CONFIDENTIAL OFFERING MEMORANDUM 97'-4" 8 " 4 1 / " - 3 ' 2 2 COMMERCIAL " - 7 ' 8

4 48'-10" 13

T D N

D N FR O M 2N D FL U P D N T R D N

BO ILER RO OM FRESH AI R IN TAKE BEHI ND PAI NTED ALU MIN UM LOU VER . N 97'-4" 8 " FLOOR PLANS 4 1 / " - 3

97'-4" ' 2 2 8 " 1 / 8 " 4 4 1 / COMMERCIAL AREA SUMMARY "

" COMMERCIAL SPACE @ FIRST FL. 3757 SF - 7 ' - 3 8 '

4 48'-10"

2 13 2 COMMERCIAL 1 3 "

T DN - 7 '

T UP

West 23rd Street West DN FR OM 2ND FL DN T

8 D N

4 48'-10" R 13 DN D N FR O M 2N D FL U P D N T

BOI LER ROO M FRESH AI R I NTAKE BEHI ND PAI NTED ALUM I NUM LO UVER. R KEY PLAN D N NOT TO SCALE BO ILER RO OM FRESH AI R IN TAKE BEHI ND PAI NTED ALU MIN UM LOU VER .

T D N N D N FR O M 2N D FL U P D N T R D N

BO ILER RO OM FRESH AI R IN TAKE BEHI ND PAI NTED ALU MIN UM LOU VER . N 8 " 1 / 4 AREA SUMMARY

COMMERCIAL SPACE @ FIRST FL. 3757 SF DRAFT 8 " 1 / 4 AREA SUMMARY 1 3 04.05.11 ALL DIMENSIONS ARE APPROXIMATE AND

T COMMERCIAL SPACE @ FIRST FLDN . 3757 SF COMMERCIAL SPACE, FIRST FLOOR UP DN FR OM 2ND FL SUDN BJECT T TO CONSTRUCTION VARIANCES. R PLANS AND DDN IMENSIONS MAY CONTAIN

BOI LER ROO M FRESH AI R I NTAKE BEHI ND PAI NTED ALUM I NUM LO UVER. 1 3 124-126 WEST 23RD STREET KEY PLAN MINOR VARIATIONS FROM FLOOR TO FLOOR. NEW YORK, NEW YORK B K S K NOT TO SCALE A R C H I T E C T S , L L P

T DN

UP DN FR OM 2ND FL DN T R DN

BOI LER ROO M FRESH AI R I NTAKE BEHI ND PAI NTED KEY PLAN ALUM I NUM LO UVER. NOT TO SCALE

DRAFT 04.05.11 7 ALL DIMENSIONS ARE APPROXIMATE CONFIDENTIALAND OFFERING MEMORANDUM SUBJECT TO CONSTRUCTION VARIANCES. COMMERCIAL SPACE, FIRST FLOOR PLANS AND DIMENSIONS MAY CONTAIN DRAFT 04.05.11 124-126 WEST 23RD STREET MINOR VARIATIONS FROM FLOOR TO FLOOR. NEW YORK, NEW YORK B K S K ALL DIMENSIONS ARE APPROXIMATE AND A R C H I T E C T S , L L P SUBJECT TO CONSTRUCTION VARIANCES. COMMERCIAL SPACE, FIRST FLOOR PLANS AND DIMENSIONS MAY CONTAIN MINOR VARIATIONS FROM FLOOR TO FLOOR. 124-126 WEST 23RD STREET B K S K NEW YORK, NEW YORK A R C H I T E C T S , L L P Manhattan Trade Areas New York, NY August 2017 Ã UPPER MANHATTAN MORNINGSIDE HEIGHTS HARLEM Ã E 110TH ST Ã Ã Ã UPPER WEST SIDE UPPER EAST W 106TH ST W 106TH ST E 106TH ST SIDE ¤£1 ¤£9 ¤£1 Ã Ã Ã Ã CARNEGIE Ã HILL EAST INWOOD Ã HARLEM E SOUTH Ã N A V

W 96TH ST Ã E Ã A D I S O Ã Ã ¦¨§87 Ã M 0 T H A V

Ã 1 UPPER N AVE £ WEST ¤9 Central YORKVILLE

SIDE GTO Park AVE AIN MÃ Ã LEXIN Ã Ã W 86TH ST Ã Ã

E WASHINGTON

M A V E HEIGHTS

D AVE A

D Ã Ã Ã Ã E 79TH ST Ã EST EN

ST AVE

OLUMBUS AV

1 M S T E R

C A Ã B RO V Ã

ERNO ADWAY UPPER

N B MADISON EAST 25A W 72ND ST L ST

AVENUE SIDE Ã VD Ã 1ST ST Ã Ã2 W 69TH ST ST9A Ã Hudson River Ã FDR DR N D A V E 2 LINCOLN ST9A Ã CENTER Ã AL PARK W

RK AVE

/ RD AVE 40TH AVE

ENTR

YO COLUMBUS C Ã E 63RD ST Ã Ã Bronx CIRCLE UPPER Ã Ã E 61ST ST EAST QUEÃENS PL SIDE 59TH ST Z N Ã Ã Ã E 59TH ST 25 59TH ST Ã Ã ST Ã V PLAZA MID- AN DAM ST25 UPPER WEST SIDE 1 W 57TH ST DISTRICT E 57TH ST 1TH ST Ã ST25 Ã TOWN WEST SIDE VD

M AVE Ã L A Ã AVE ST E

VE MIDTOWN Ã D SON Ã

MIDTOWN MIDTOWN THOM WEST Ã Ã E 53RD ST Ã V AN DAM 1 T H A V

VENT A

BLVD

MSTER 1

UGLASS B

ÃA 1

FIFTH Ã ON 1TH ST

ARK AVE

Ã L JR Ã C

Ã DO HELL'S AVENUE P MIDTOWN

49TH ST Ã K E Ã EL KITCHEN EAST ST Ã Ã Ã IC

TIMES Ã

POW SQUARE Ã HARLEM D TIMES TH AVE Long Island City

WEST SQUARE Ã FRE

E V A H E T GRAND 49TH AV 5

FDR DR CENTRALÃ MIDTOWN ÃR W 42ND ST Ã E 42ND ST IVE Ã Ã DISTRICT Ã MARKETCHELSEA OVERVIEW MARKET OVERVIEW - CHELSEA RSIDE DR MIDTOWN DAM CLAYTON

E Ã A W 40TH ST SOUTH Ã Ã BRYANTChelsea is comprised of a dense mix of Ã Hotels PARK N AV W 38TH ST residential, hotel and office buildings The Ace Hotel EAST FASHION HUDSON DISTRICT while Ladies Mile, a true 24/7 market The NoMad W HARLEM The Ritz Carlton (coming soon)

ADISO YARDS has a strong residential and office ARK AVE NORTH

MORNINGSIDE P

M DISTRICT T H A V E 9 W 34TH ST population.E 34TH ST HEIGHTS Ã Ã Ã Ã ER ST Ã Ã ÃRIDGEWAT HERALDÃ SQUARE / Ã B The growth ofÃ the immediateMURRAY area KIPS

RD AVE ST AVE N D A V E

T H A V E

R D E D I S PENN STATION R

3 1 2

BAY 5

and surrounding neighborhoodsHILL Subways

E V WEST SIDE W 30TH ST MIDTOWN UPPER MANHATTAN I Ã EAST including NoMad and Herald Square R Ã SOUTH Ã Ã CARNEGIEÃ HARLEM MIDTOWN SOUTH 126 are contributing to the evolution of an UPPER WESTÃ SIDE HILL E ÃWest 23rd Ã UPPER WEST SIDE SOUTH Street already establishedÃ market.

7.4M NOMAD Annual Ridership

1TH AV CHELSEA Chelsea is positioned in between Herald 1 East River Ã T H A V E Square to the north, Ladies Mile to the 7 E 23RD ST Ã Ã6 T H A V E E 23RD ST South,Ã West ChelseaÃ to the West and NoMad to the East. Retailers 4.8M Best Buy Annual 5M Ridership Annual Blick Art Supply Ridership FLATIRON Despite its close proximity to the major Bluemercury Ã DISTRICT GRAMERCY CAVA T H A V E 2.6M retail markets of Union Square, 34th

8 Chick-Fil-A Annual Ridership Street and the Flatiron District, Ladies’ CVS/pharmacy Fairway Mile hasUNION established itself as a strong MIDTOWN SOUTH MIDTOWN SOUTH MEATPACKING E 14TH ST Michael’s Ã Ã retail marketSQUAREÃ of its own. Ã Ã Pret A Manger DOWNTOWN DISTRICT G 4 REE TH AVE Trader Joe’s DOWNTOWN NWI Whole Foods Market CH A Ladies Mile serves as a bridge between GREENWICH VE the Flatiron District and Chelsea and VILLAGE/NOHOis known for its large format and EAST E 8TH ST ST AVE

Ã 1 destination retailÃ stores. VILLAGE Ã

Ã Ã Brooklyn

8 7 WESTCONFIDENTIAL OFFERING MEMORANDUM G TH AVE B

REE H OW VILLAGEUDSON V E C V E B V E A A A NWI ERY A FDR DR ADWAY ST S USTON E HO P CH S RO ST ITT S B Ã Ã ALLEN ST T Ã T

V Ã Ã G BRIDGE ARI Ã AMSBUR HUDSON SOHO WILLI SQUARE CK ST Ã Ã ST NG Ã PRI BROOME ST LOWER S NOLITA BOWERY ¦¨§278 Ã MONTGOMERYEAST ST Ã SIDE CANA L ST Ã T ST Ã ÃE BROADWAY GH CANAL ST LAI P IKE ST Hudson River Ã ST Ã TRIBECA TWO SOUTH WORTH ST BRIDGES H ST CITY HALL M ANH

HURC

ST JAMES ST Ã C Ã ATTAN Ã Ã BRI D Ã BARCLAY ST G Ã E B ROOKL YN B Ã Ã RIDG BATTERY Ã E PARK CITY FINANCIAL DISTRICT Ã Ã ÃÃ Ã ST ET VIA W

EST ST ATER

Ã STRE S

Ã Ã Miles 0 0.25 0.5 1

All information supplied is from sources deemed reliable and is furnished subject to errors, omission, modifications, removal of the listing from sale, and to any listing conditions, including the rates and manner of payment of commissions for particular offerings imposed by principals or agreed to by this Company, the terms of which are available to principals or duty licensed brokers. Any square footage dimensions set forth are approximate. µ 209 WEST 79TH STREET

Fully leased retail condominiums anchored by My Gym (600 global locations) and Recovery Physical Therapy (11 locations)

1/2 block to the 79th Street 1 train Subway Station at Broadway

Newly constructed 19-unit boutique luxury condominium "207W79" - sales $3,000+ PSF

Ground Floor Retail Space: ±5,137 SF

Plus 680-SF Basement Space

9 CONFIDENTIAL OFFERING MEMORANDUM Columbus Café

UPPER WEST WESTSIDE 86TH STREET WEST 86TH STREET NEW YORK | N Y Crosstown Custom Hunter Shades & Glass Douglas 86th Corner Wine & Liquor 09.30.19 Mitchell's Toscana Shoe Repair Wine & Liquors Espresso Matto Ernesto's Jewelry Pizza Pete's Mama's Famous Ristorante H&H Bagels 72ND – 85TH STREET Broadway Chemists Broadway Farm French Roast Intelligent Kitchens Machiavelli WEST 85TH STREET WEST 85TH STREET New Kam Lai Chinese Restaurant Alibaba Viand Diner Kitaro The Upper Breast Side E's Bar Cotta Wine Bar

Blossom A Time For Children Celeste Don Pedro’s Prohibition West Side Kids WEST 84TH STREET WEST 84TH STREET Om Aroma Spa Maison Pickle Gastronomie 491 Eddie's Bicycle Shop For Kids Lala Sahab The Center School Bustan Unique Boutique Cilantro Kolorbar Matsu Sushi KC Jewelry Bellini Italian Restaurant Amsterdam Café West Side Wine & Spirits WEST 83RD STREET WEST 83RD STREET

U Fred's Hi-Life Lounge Taralucci E Vino

Y Y Pet Health Store Spring Natural Kitchen VENUE VENUE

V Lokal Mediterranean Kitchen A A Jooneechees

PROPERTY DETAILS W W Purdy Girl

D D D Metro Window Fashions Modern Bread & Bagel

A A

O O Daluce Restaurant and Bar

T R R KES Jin Ramen

B B

Address 209 West 79th Street E Cafe 82 Peace Food Café

W COLUMBUS A Block/Lot 1227/1001 WEST 82ND STREET AMSTERDAM A WEST 82ND STREET Senn Thai Greenstones Manhattan Mailroom Land Thai Kitchen Amsterdam Gallery Luxcucina Unit #COM 1 The Dead Poet Royal Opticians The Milling Room Warburg Realty Location North Block between Broadway Rose Wine The Eye Man Quality Florist The Gin Mill and Amsterdam Avenue St. James Gate NYC Frank Stella WEST 81ST STREET WEST 81ST STREET Frontage ±19 FT | ±15 FT Jake's Dilemma Crave Fishbar BaZnGa

Westsider Rare & Used Books Best Bottles Floor Area Caledonia’ Whiskey Bar Frank Mac’s Pub THEODORE Ground Floor 5,137 SF Beer Shop Pinky Nail Salon Made In New York Pizza ROOSEVELT Below Grade 680 SF WEST 80TH STREET WEST 80TH STREET Laina Jane 209 West 79th Street Swagat Indian Total 5,817 SF Lingerie PARK

BOC donation center Bettola Voila Chocolat Oriental Ceiling Heights 12 Lampshade Dublin House The Great Burrito Common Interest Commercial Unit 10.3475% FIRST BAPTIST CHURCH Tap Room WEST 79TH STREET WEST 79TH STREET

E Blondie's Knitty City Classic Kids

U Restaurant Coppola's Zoning District R10-A / C1-5 Bagels & Co. N Restaurant

E Cork & Vine AMERICAN VENUE

Y Y VENUE

A A

Applicable Permitted Use Groups 5, 6

W W MUSEUM OF

D D

A A

Stoopher & Boots Annual Common Charges $20,634 O O NATURAL

R R

B B E Apthorp Pharmacy Utilities N/A W HISTORY COLUMBUS A WEST 78TH STREET AMSTERDAM A WEST 78TH STREET Real Estate Taxes $96,460 La Caridad Restaurant Europan Bakery & Café White Gold Butchers Bagel Talk Tax Exemption N/A Super Runners Shop Bra Smyth

Net Operating Income $495,778 Café Frida The Vitamin Peddler The Cottage Restaurant Asking Price $9,500,000 WEST 77TH STREET WEST 77TH STREET WEST 77TH STREET $PSF $1,850 The Anderson School

Second Stage Theater Tessa

The Amsterdam Inn Peruvian Connection Amsterdam Ale House WEST 76TH STREET WEST 76TH STREET

Asset

WEST 75TH STREET WEST 75TH STREET COMING SOON Viand Cafè 10 Picolo Café CONFIDENTIAL OFFERING MEMORANDUM Corks on Columbus Grand Sichuan

The Beacon Theater Freddie & Pepper's Pizza Beacon Wines and Spirits WEST 74TH STREET WEST 74TH STREET

Pro Image Photo

Euro Optika Guyers Tenzan Japanese Cuisine Really Great Things Bestall Shirt Makers

CP Yang Corp WEST 73RD STREET WEST 73RD STREET

BROADW U Amsterdam Wine Co. BROADW N Paper House

E VENUE

Y Y Zucker's Bagels VENUE

A A

A Harvest Kitchen

Tip Top

W W

D Utopia Kids Shoes D D A Restaurant N La A A Y A Tip Top

E TAP NYC

Dinastia

O O Y Shoes Stationery

R R & Toy

S Malachys

B B

E Big Kumo Long's Columbus Food Gourmet Bag Miznon Bedding W Sushi The Dakota Bar COLUMBUS A WEST 72ND STREET AMSTERDAM A WEST 72ND STREET

COMING SOON Trader Joe’s

Jeffrey Stein Salon Ella

Cafe 71 Oxbow Tavern WEST 71ST STREET WEST 71ST STREET NGKF.COM Metro Café Columbus Farm Bin 71 Terms of sale or lease and availability are subject to change or withdrawal without notice. Alskling Pomodoro Rosso Cassis Restaurant FINANCIALS

Rent Roll

Unit Tenant Rentable Square Feet Rent/PSF Annual Base Rent Monthly Base Rent

Comm 1 My Gym West 79th 3,262 SF $101 $330,000 $27,500

Recovery Office Comm 2 Services 1,875 SF $124 $232,500 $19,375

Basement Storage Vacant 680 SF $30 $20,400 $1,700

Total - 5,096 SF $255 $582,900 $46,575

Income & Expenses Real Estate Tax Reimbursement Calculation Base Rental Income $573,067 Recovery Office (7-1-2020 to 6-30-2021) My Gym Services Projected Basement $20,400 RE Tax Base Year 2019/2020 2019/2020 Storage Income Base Year Amount $96,460 $96,460 RE Tax Reimbursements $19,405 (Current) Current Tax Year 2019 / 2020 2019 / 2020 Total Income $612,872 Current RE Taxes $96,460 $96,460 Increase $0 $53,164 Expenses $PSF Proportionate Share 63.5% 36.5% RE Taxes $96,460 $16.58 Reimbursement Amount (Annual) $0 $19,405 Common Charges $20,634 $3.55 Reimbursement Amount (Monthly) $0 $1,617 Total Expenses $117,094 $20.13

Net Operating Income $495,778

11 CONFIDENTIAL OFFERING MEMORANDUM RENT SCHEDULE

Rent Credit: $247,500 applied against: 6 mos succeeding BASE TERM "Term Commencement Date" and months 13, 14 + 15

209 WEST YEAR BEGIN END MONTHLY RENT ANNUAL RENT % INCREASE $PSF GROUND $PSF BLENDED 79TH STREET 1 5/1/20 4/30/21 $27,50 0 $268,125 - $83 $83 2 5/1/21 4/30/22 $27,50 0 $330,000 - $102 $102

FLOOR AREA RETAIL 3 5/1/22 4/30/23 $28,325 $339,900 3.0% $105 $105 Ground Floor 3,262 SF 4 5/1/23 4/30/24 $29,175 $350,097 3.0% $108 $108

Cellar 0 5 5/1/24 4/30/25 $30,050 $360,600 3.0% $111 $111

Total 3,262 SF 6 5/1/25 4/30/26 $30,951 $371,418 3.0% $114 $114

7 5/1/26 4/30/27 $31,880 $382,560 3.0% $118 $118

UNIT 8 5/1/27 4/30/28 $32,836 $394,037 3.0% $121 $121 Retail 9 5/1/28 4/30/29 $33,822 $405,858 3.0% $125 $125

TENANT 10 5/1/29 4/30/30 $33,822 $405,859 0.0% $125 $125 JESSZAC INC., d/b/a My Gym West 79th

EXTENSION OPTION PERIODS TERM COMMENCEMENT DATE 10/23/19 YEAR BEGIN END MONTHLY RENT ANNUAL RENT % INCREASE $PSF GROUND $PSF BLENDED 1 5/1/30 4/30/31 $35,881 $430,575 - $132 $132 RENT COMMENCEMENT DATE 4/23/20 2 5/1/31 4/30/32 $36,958 $443,492 3.0% $136 $136 3 5/1/32 4/30/33 $38,066 $456,797 3.0% $141 $141 LEASE EXPIRATION DATE 4 5/1/33 4/30/34 $39,208 $470,501 3.0% $145 $145 4/30/30 5 5/1/34 4/30/35 $40,385 $484,616 3.0% $149 $149 BASE TERM 10 years, 6 months REAL ESTATE TAX REIMBURSEMENT CALCULATION

REIMBURSEMENT RENEWAL OPTIONS BASE YEAR BASE YEAR TAX AMT CURRENT YEAR CURRENT TAX AMT INCREASE % SHARE AMOUNT One 5-year 2019/2020 $96,460 2019/2020 $96,460 $0 63.50% $0 ANNUAL RENT INCREASES 3% normalized

12 CONFIDENTIAL OFFERING MEMORANDUM RENT SCHEDULE

Rent Credit: $77,500 applied against: 209 WEST BASE TERM 4 mos succeeding "Term Commencement Date" YEAR BEGIN END MONTHLY RENT ANNUAL RENT % INCREASE $PSF GROUND $PSF BLENDED 79TH STREET 1 3/1/19 2/28/20 $19,375 $206,667 - $112 $112 2 3/1/20 2/28/21 $19,956 $239,475 - $130 $130

FLOOR AREA 3 3/1/21 2/28/22 $20,555 $246,659 3.0% $134 $134

Ground Floor 1,875 SF 4 3/1/22 2/28/23 $21,172 $254,059 3.0% $138 $138

Cellar 0 5 3/1/23 2/28/24 $21,807 $261,681 3.0% $142 $142

Total 1,875 SF 6 3/1/24 2/28/25 $22,461 $269,531 3.0% $146 $146

7 3/1/25 2/28/26 $23,135 $277,617 3.0% $150 $150

UNIT 8 3/1/26 2/28/27 $23,829 $285,946 3.0% $155 $155 Office 9 3/1/27 2/28/28 $24,544 $294,524 3.0% $160 $160

TENANT 10 3/1/28 2/28/29 $25,280 $303,360 3.0% $164 $164 Recovery Office Services 13, LLC

EXTENSION OPTION PERIODS TERM COMMENCEMENT DATE 8/8/18 YEAR BEGIN END MONTHLY RENT ANNUAL RENT % INCREASE $PSF GROUND $PSF BLENDED 1 3/1/29 1/31/30 $35,881 $430,575 - $233 $233 RENT COMMENCEMENT DATE 2/8/19 2 3/1/30 1/31/31 $36,958 $443,492 3.0% $240 $240 3 3/1/31 1/31/32 $38,066 $456,797 3.0% $247 $247 LEASE EXPIRATION DATE 4 3/1/32 1/31/33 $39,208 $470,501 3.0% $255 $255 2/28/29 5 3/1/33 1/31/34 $40,385 $484,616 3.0% $263 $263 BASE TERM 10 years, 4 months REAL ESTATE TAX REIMBURSEMENT CALCULATION

REIMBURSEMENT RENEWAL OPTIONS BASE YEAR BASE YEAR TAX AMT CURRENT YEAR CURRENT TAX AMT INCREASE % SHARE AMOUNT N/A 2018/2019 $43,296 2019/2020 $96,460 $53,164 36.50% $19,405 ANNUAL RENT INCREASES 3% normalized

13 CONFIDENTIAL OFFERING MEMORANDUM TENANT PROFILES

PLAY | CLASSES | PARTIES | CAMP | EVENTS Recovery Physical Therapy is a team of physical therapy professionals committed to helping patients return to their My Gym is consistently ranked activities of daily living, work, and the #1 children's program the recreational activities they love worldwide. Awesome, fun by providing the highest level of teachers are the main reason personalized care to treat their behind that. My Gym is an injury or condition. international corporation with more than 600 locations in Our first facility opened in 1999 and over 30 countries. many team members have worked together since 1982. Recovery My Gym was born out of a Physical Therapy (RPT) was started passion to teach children in a due to a shift from individual care to fun, physically engaging environment. Founders and staff are delighted a mill-like atmosphere, where several patients were treated simultaneously in order to in seeing children's eyes light up for all those incredible milestones, offset diminishing reimbursement rates. from the tentative first steps to tumbling down soft mats. Sharing the parents’ excitement at their children’s accomplishments is a high point Patients are not a number at RPT. We know that hands-on, one-on-one care is of employees’ days. the most effective treatment and provides better outcomes. At Recovery Physical Therapy, all patients are treated by a licensed physical therapist. Over 80% of our Founders knew from the start that, through fun and captivating physical therapists have their DPT, Doctorate of Physical Therapy, in addition to other activities, they could accomplish great things. The goal: To create an advanced specialty degrees, such as certified orthopedic specialist. In addition, environment where children feel loved and supported so their self- continuing education opportunities are provided to employees. esteem and confidence can flourish. Now, more than 35 years later, all children of all abilities can succeed and thrive at My Gym. Recovery Physical Therapy is a physical therapist owned and operated company – all offices are managed by a licensed physical therapist which means that decisions With 600+ locations worldwide, the dream of active, giggling children are made from a clinical perspective and not an accounting position. Successful growing into happy and confident adults has been realized. We cherish outcomes are the result of many factors and RPT staff is committed and empowered every one of our members and are grateful to have each as part of the to address them all. RPT currently has eleven locations in the New York City My Gym family. metropolitan area.

14 CONFIDENTIAL OFFERING MEMORANDUM FLOOR PLANS

15 CONFIDENTIAL OFFERING MEMORANDUM Manhattan Trade Areas New York, NY August 2017 Ã UPPER MANHATTAN MORNINGSIDE HEIGHTS HARLEM Ã E 110TH ST Ã Ã Ã UPPER WEST SIDE UPPER EAST W 106TH ST W 106TH ST E 106TH ST SIDE ¤£1 MARKETUPPER WEST OVERVIEW SIDE MARKET - CHELSEA OVERVIEW ¤£9 ¤£1 The Upper West Side is an extremely Ã Ã Ã Hotels 4.1M Ã dense residentialCARNEGIE market with a strong The Empire Hotel Annual concentration of national retailers along Ridership HILL EAST The Excelsior Hotel Broadway, Amsterdam Avenue and Hotel Beacon NYC INWOOD Ã HARLEM

Columbus Avenue. E SOUTH Ã

CURRENT MARKET N A V DYNAMICS Riverside will continue to fill in with the W 96TH ST delivery of five new high-end residential Ã E Ã developments with A D I S O a rumoredÃ Ã Subways ¦¨§87 Ã M 11.7M supermarket, movie theater and school. Annual 0 T H A V

Ridership 1 There are three other top food markets Ã UPPER on the Upper West Side – Citarella, N AVE £ WEST Fairway and Zabar’s. ¤9 Ce ntral YORKVILLE SIDE GTO PUpperark Broadway is an incredibly strong AVE AIN retail corridor lacking vacancy. Retailers MÃ Ã LEXIN Alexis Bittar Ã Ã W 86TH ST Seven-day-a-week market with Barnes & Noble Ã 6.1M Ã Ã Barney’s New York Annual tremendous and consistent pedestrian traffic. Ridership Bloomingdales Discount Store E Primary shopping, dining and service DSW Shoe WASHINGTON area for Columbia students. Jonathan Adler

M A V E Kidville HEIGHTS

D AVE A lululemon athletica D RENT RANGES Ã Ã Ã Sephora Ã Ã Above 72nd Street E 79TH ST Stuart Weitzman Ã EST EN

Amsterdam Avenue $150 - $350 PSF ST AVE Sunglass Hut

OLUMBUS AV

1 M S T E R

C T.J. Maxx

A Broadway $200 - $400 PSF Columbus Avenue $225Ã - $500 PSF The Children’s Place B RO The North Face V Ã 5M 209 ERNO Annual West 79th Paper Source ADWAY Ridership Street Urban Outfitters LANDMARKS UPPER Central Park, Museum Mile, Lincoln N B Center, MuseumMADISON of Natural HistoryEAST 25A W 72ND ST L ST

AVENUE SIDE Ã VD Ã 1ST ST 2 16 Ã Ã CONFIDENTIAL OFFERING MEMORANDUM W 69TH ST ST9A Ã Hudson River Ã FDR DR N D A V E 2 LINCOLN ST9A Ã CENTER Ã AL PARK W

RK AVE

/ RD AVE 40TH AVE

ENTR

M AVE Ã L A Ã AVE ST E

VE MIDTOWN Ã D SON Ã

MIDTOWN MIDTOWN THOM WEST Ã Ã E 53RD ST Ã V AN DAM 1 T H A V

VENT A

BLVD

MSTER 1

UGLASS B

ÃA 1

FIFTH Ã ON 1TH ST

ARK AVE

Ã L JR Ã C

Ã DO HELL'S AVENUE P MIDTOWN

49TH ST Ã K E Ã EL KITCHEN EAST ST Ã Ã Ã IC

TIMES Ã

POW SQUARE Ã HARLEM D TIMES TH AVE Long Island City

WEST SQUARE Ã FRE

E V A H E T GRAND 49TH AV 5

FDR DR CENTRALÃ MIDTOWN ÃR W 42ND ST Ã E 42ND ST IVE Ã Ã DISTRICT Ã

RSIDE DR

MIDTOWN DAM CLAYTON

E Ã A W 40TH ST SOUTH Ã Ã BRYANT Ã

W 38TH ST PARK N AV EAST FASHION HUDSON DISTRICT W HARLEM

ADISO YARDS ARK AVE NORTH

MORNINGSIDE P

M DISTRICT T H A V E 9 W 34TH ST E 34TH ST HEIGHTS Ã Ã Ã Ã ER ST Ã Ã ÃRIDGEWAT HERALDÃ SQUARE / Ã B Ã MURRAY KIPS

RD AVE ST AVE N D A V E

T H A V E

R D E D I S PENN STATION R

3 1 2

HILL BAY 5

E V

WEST SIDE W 30TH ST MIDTOWN UPPER MANHATTAN I Ã EAST R Ã SOUTH Ã Ã CARNEGIEÃ HARLEM MIDTOWN SOUTH UPPER WESTÃ SIDE HILL

E Ã Ã Ã Ã UPPER WEST SIDE SOUTH

NOMAD

1TH AV CHELSEA 1 East River Ã T H A V E 7 E 23RD ST 6 T H A V E E 23RD ST Ã Ã Ã Ã

FLATIRON Ã DISTRICT GRAMERCY T H A V E 8

UNION MIDTOWN SOUTH MEATPACKING MIDTOWN SOUTH Ã Ã SQUAREÃ Ã Ã E 14TH ST DOWNTOWN DISTRICT G 4 REE TH AVE DOWNTOWN NWI CH A GREENWICH VE VILLAGE/NOHO EAST E 8TH ST ST AVE

Ã 1 Ã VILLAGE Ã

Ã Ã Brooklyn WEST 7 G TH AVE B

REE H OW VILLAGEUDSON V E C V E B V E A A A NWI ERY A FDR DR ADWAY ST S USTON E HO P CH S RO ST ITT S B Ã Ã ALLEN ST T Ã T

HURC

ST JAMES ST Ã C Ã ATTAN Ã Ã BRI D Ã BARCLAY ST G Ã E B ROOKL YN B Ã Ã RIDG BATTERY Ã E PARK CITY FINANCIAL DISTRICT Ã Ã ÃÃ Ã ST ET VIA W

EST ST ATER

Ã STRE S

Ã Ã Miles 0 0.25 0.5 1

CONTACTS BARRY FISHBACH 212.331.0115 | [email protected] RON SOLARZ 212.372.2306 | [email protected] GARY MEESE 212.916.2933 | [email protected]

NGKF.COM

© 2020 NEWMARK KNIGHT FRANK RETAIL The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Renderings are conceptual. Terms of sale or lease and availability are subject to change or withdrawal without notice.

17 CONFIDENTIAL OFFERING MEMORANDUM