49 Ash Street, Greenpoint, Brooklyn, Ny Table of Contents I

49 ASH STREET, GREENPOINT, BROOKLYN, NY TABLE OF CONTENTS I. EXECUTIVE SUMMARY 5 II. THE NEIGHBORHOOD 13 III. DUE DILIGENCE 19

FOR MORE INFORMATION, PLEASE CONTACT

BRYAN KIRK Director 646 933 2624 [email protected]

ROBERT MOORE Director 646 933 2650 [email protected]

DJ JOHNSTON Partner, Senior Managing Director 646 933 2619 [email protected] EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS PROPERTY OVERVIEW

52K SF EXISTING 17.5 FT CEILINGS 250K CF BSF OPPORTUNITY ZONE Address 49 Ash Street, Greenpoint, Brooklyn Location NW corner of Ash Street & McGuinness Boulevard B6 Real Estate Advisors has been retained on an exclusive basis to arrange for the sale Block & Lot 2477 / 52 of 49 Ash Street, an industrially zoned warehouse on the Greenpoint waterfront.

• 52,000 square foot single story warehouse LOT / ZONING INFORMATION • Fully sprinklered with 17.5 foot ceilings Lot Size 139' x 275' (Irregular) • 19 parking spaces, below grade (not included in SF) Lot SF 52,705 (Approx.) • Within M1-2 zoning, offering total commercial buildable of 105,410 square feet, Zoning M1-2 (2.00 FAR Commercial) as-of-right (~53,407 SF of available air rights) Total Buildable SF 105,410 (Approx.) • Community facility development would increase max FAR to 4.80, for total of 247,521 buildable SF Comm. Fac. Buildable SF 247,521 (4.80 FAR) • Four loading docks (two shared, covered drive-in docks / two private, uncovered docks) • Situated next to the Pulaski Bridge and McGuinness Boulevard, providing quick and BUILDING INFORMATION easy access into Long Island City and to I-495 Building Size 139' x 275' (Irregular) • Public transportation is available nearby via the 7-train at Vernon / Jackson Avenue Building Square Footage 52,003 (Approx.) and the LIRR at Hunterspoint Avenue. Stories 1 • Within blocks of Greenpoint Landing, 77 Commercial Street, 1133 Manhattan Avenue, and the Box House Hotel, which will have added ~6K luxury residential units and Commercial Units 13 countless amenities upon full delivery

TAX INFORMATION TAX MAP Assessment (20/21) $2,270,520 Tax Class 4 Less ICIP $2,145,870 (-$124,650) BULKHEAD | NEWTOWN CREEK R.E. Taxes ('20/'21) $229,479 (10.694%)

ASKING PRICE: $26,000,000

260’ 309’ 52

250’

MANHATTAN AVENUE 49 ASH STREET

139’ PULASKI BRIDGE MCGUINNESS BLVD / ASH STREET

6 B6 REAL ESTATE ADVISORS 49 ASH STREET 7 RENT ROLL & EXPENSES

REVENUE Current Rent Roll Projected Rent Roll ESTIMATED EXPENSES

UNIT TYPE LEASE EXP. SIZE (SF)* $ / MO. $ / YR. $ / SF $ / MO. $ / YR. $ / SF Real Estate Taxes (20/21) Dept. of Finance $229,479

101 VACANT -- 5,000 $13,333 $160,000 $32 $14,583 $175,000 $35 Insurance $0.50 / Gross SF $26,002 102 KitchenAll LLC Aug-23 9,649 $30,906 $370,872 $38 $28,143 $337,715 $35 Water & Sewer $500 / Unit $6,500 103 Sightline Fabrication Jul-20 4,980 $9,070 $108,840 $22 $14,525 $174,300 $35 Heating Fuel Pass Through -- 104 Wray, Inc. Nov-21 1,990 $4,400 $52,800 $27 $5,804 $69,650 $35 Electric (Common) Owner Provided $3,500 105 Daniel Sullivan Mar-21 1,990 $5,454 $65,448 $33 $5,804 $69,650 $35 Repairs & Maintenance $0.50 / Gross SF $26,002 106 Facture Studio Inc Jan-22 1,990 $4,926 $59,112 $30 $5,804 $69,650 $35 Management & Super 4% of EGI $65,845 107 Kristom Woodworking Mar-21 5,662 $8,682 $104,184 $18 $16,514 $198,170 $35 Lambo Construction, Total Exp. Ratio: 21.71% $357,327 108 Mar-21 2,000 $5,500 $66,000 $33 $5,833 $70,000 $35 Inc. 108A KitchenAll LLC Apr-21 2,000 $3,377 $40,524 $20 $5,833 $70,000 $35 FINANCIAL SUMMARY (BASED ON PROJECTED RENT ROLL) 109 Artificial Reality May-21 3,250 $5,703 $68,436 $21 $9,479 $113,750 $35 Gross Annual Income $1,697,035 110 Greenpoint Hotel LLC Dec-21 4,000 $9,785 $117,420 $29 $11,667 $140,000 $35 Vacancy & Credit Loss @ 3% $50,911 111 Danielle Roney LLC Jul-22 3,000 $5,150 $61,800 $21 $8,750 $105,000 $35

201 Nicole Benton Mar-21 850 $4,051 $48,612 $57 $2,479 $29,750 $35 Effective Gross Income $1,646,124

Parking Greenpoint Hotel LLC Dec-21 5,000 $6,200 $74,400 - $6,200 $74,400 - Less Total Expenses $357,327

TOTAL: 51,361 $116,537 $1,398,448 $30 $141,420 $1,697,035 $37 Projected Net Operating Income $1,288,797

8 B6 REAL ESTATE ADVISORS 49 ASH STREET 9 PROPERTY PHOTOS

10 B6 REAL ESTATE ADVISORS 49 ASH STREET 11 PROPERTY PHOTOS

12 B6 REAL ESTATE ADVISORS 49 ASH STREET 13

k a r ORCHARD Wakefield PELHAM t m BEACH Wakefield BAY A 241 St PARK WESTCHESTER B A 2 Y C EASTCHESTER THE BRONX H P ES O T T R ER S Eastchester T B Nereid Av A 33 W R V 2 Dyre Av O 2•5 A A S D 5 H Riverdale I W Woodlawn N A 233 St G Y T

2•5 Baychester New York City Subway O N

Av B CO-OP L V M 5 225 St 222 ST CITY D O h t with bus and railroad connections S r • o 2 5 H

O N - L o U r t Van Cortlandt Park e 219 St BAYCHESTER

M • THE Key 242 St

VAN Woodlawn 2 5 Y V 1 A CORTLANDT P A I K 4 E

N W W K Y CITY P D RIVERDALE D PARK Gun Hill Rd R Gun Hill Rd BRONX The subway operates 24 hours a Local service only Y U

A Williams E A W O B Y ISLAND L S P •

O 5 Rush hour line K RK 2 5 V W day, but not all lines operate at all I Bridge A K E A

S R P All trains stop (local P P W N

N O M A B H T A

E extension N R H times. Call our Travel Information D L D VAN CORTLANDT Mosholu Pkwy E Norwood I LE E and express service) O T D L P E G E A S D E 238 St A

N I Center at 511 for more information 4 A 205 St D R

231 ST P N C V U B L

1 A E Pelham Bay Park V N A in English or Spanish (24 hours) or

H A I D L

A N KINGSBRIDGE I A N P

Y Burke Av 6 V W

B S S ask an agent for help in all other R IR

• R E N 2 5 D 231 St D Accessible E R languages (6AM to 10PM). Bedford Pk Blvd Bedford Pk Blvd N Station H W 1 O station Lehman College B•D Buhre Av T Name Spuyten LE 225 D ST Allerton Av 6 D A•B Free subway transfer Duyvil Marble Marble Hill 4 Pelham Pkwy I Metro-North 2•5 M Hill 225 St Botanical Garden 5 Free out-of-system H Bus or AIRTRAIN N E U O DG 1 T subway transfer S RI Kingsbridge Rd Middletown Rd C to airport D B H U E visit www.mta.info (excluding single-ride Y • IN H G A Kingsbridge Rd V B D 6 D W S Y I D A Morris Park Police Pelham Pkwy O ticket) R R A N O 4 E N B R V • 5 A E M B 2 5 Full time service H O R E R Fordham Rd T Bus to airport E S Part time service E J INWOOD • Fordham W E Westchester Sq 215 St S B D Terminal Fordham Rd H H P HILL PARK R I V C K D BRONX Bronx Park T A East Tremont Av W 1 R 4 U FORDHAM E T T To show service more clearly, geography AM N S Y H O West FarmsZOO Sq P Amtrak O E RD East L 6 FO C M W Y on this map has been modified. Commuter rail service UNIVERSITY HTS BR A RE W

N • Inwood 183 St E Tremont Av 2 5 IN T P 207 St O S E X University E 207 St Y C 182–183 Sts R Zerega Av M THROGS A 1 4 D Heights D • A W e B D 180 ST 6 N S D t NECK r T This map shows weekday service.

A A o Burnside Av L R O - A Castle Hill Av R BRIDGE

R N E G E 180 St W Z N B o 4 On weekends and late nights, these routes change: Dyckman St R PARKCHESTER E K 6 Dyckman St r Tremont Av 2 • • E R C t 2 5 E

h U Tremont 5 N G V R A • C FORT TRYON 1 southbound only B D TRE E CROSS BRON A B A MON X EXP T AV WY A PARK T A C S V 176 St TREMONT H V Parkchester A Weekends A Morris S 191 St I L R T 4 L D 6 190 St O HIGHBRIDGE Heights E 1 174–175 Sts H H A Manhasset St Lawrence Av I BRONX-WHITESTONE A C PARK 174 St L • V I

F B D E W L

N O Mt Eden Av • L 6 A H 2 5 D V

R I T E T B WASHINGTON BRIDGE E T S 4 R

R BRIDGE P No service- Delancey St/ Local in No service- 181 St 181 St Dyre Av– W L O V rush Morrison Av A A A A HAMILTON BRIDGE I GEO. WASHINGTON A 1 N use CDQ Essex St– Manhattan, use NR Bowling Green S hours D 170 St A Soundview S M

H H

BRIDGE W 170 St V SO R Metropolitan Av via Manhattan h I A D N t U A 4 6

r D • N G a B D D Y W o Freeman St Bridge R HIGH- VI LIRR T E N

E E Elder Av W O r • -

T 2 5 BRIDGE B A N o V

r S l S 6 175 St A t MORRISANIA Late nights (midnight to 6am, daily) T D e V M e LV E SOUNDVIEW A B A M 167 161 St St R Whitlock Av N m 167 St R E Yankee Stadium A H 4 • 6 42 St T V B D s R WASHINGTON Simpson St P O

B s A N R R HEIGHTS 168 St • e W

2 5 r S H O Auburndale • • • i p Local, 207 St– No service- Local No service- Local in Myrtle Av– A C 1 I N No service- Amtrak A C T x S v E e Far Rockaway. use service use Brooklyn Metropolitan Av Little F S B A ADQ use 7

R e Melrose T T L Great n I Intervale Av V

V O Neck W 163 St–Amsterdam Av r D Euclid Av-Lefferts Shuttle RIVERSIDE PARK o Douglaston E N Neck • • i Auburndale Bayside A t R 2 5 Hunts Point Av D E Blvd Shuttle S C • c S Yankees- E H 4 e I rush r 6 X D i P A E153 St Prospect Av E hours d W V • D Longwood Av D • k 2 5 a Y R 157 St 155 St e 6 155 St B Jackson Av p 149 St–Grand r 1 s s C s • 5 u e Concourse • o s pr • 4 THE HUB 2 5 h irection ex e C hour peak d 2 h r rush us LE r p E 149 St Broadway A x Local, via Local Whitehall St- No service- Local R 148 St– Local, Woodlawn– Dyre Av– DOUGLASS BLVD HUNTS V e 6 I RIVERBANK MOTT HAVEN POINT EW FREDERICK 3 Av–149 St n Financial service 95 St use N service Times Sq/42 St New Lots Av E180 St EX STATE PARK io E 143 St P Harlem 2•5 t D District W Skips Hoyt St Shuttle 145 St 145 ST c St Mary’s St LV Y 145 St re B 145 St 148 St di N 1 ak 6 R • • • M 3 pe E A B C D POWELL BLVD (7AV) 3 138 St–Grand weekday H A T

C Concourse Cypress Av N 137 St T

• 6 r N

L 4 5 Brook Av e

B v I City M i C R 4 skips rush hour 3 Av 6 R N

135 ST H Murray A

O College X t S

O peak direction S

135 St

A Q 135 St R s A B 138 St U U

L Hill

D E O 1 • L • a QUEENS E A 2 3 N

W B C RIKERS V

6 B E S

VILLAGE

B A E

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R Y R

( V

125 St V L A I

T Y E D 125 ST 125 St W E

125 St M60 SBS XP D F E N I 1 G CUNNINGHAM S

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• • • 125 St K

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X E Harlem • • M60 SBS H

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116 St N

V 125 St Q47 Flushing E LGA Airport ) EAST RANDALLS PARK

D E Columbia 116 ST Q48 K QUEENS K HARLEM Main St I I Y ISLAND Flushing SS 116 St 116 St 116 St ENA P University BL N Q72 7 VD FRESH R B•C 2•3 ND U M60 SBS 1 6 LA MEADOWS T HOLLIS IS N LAGUARDIA NG IO LGA Airport LO U N Q48 T Central Park AIRPORT O U Cathedral Pkwy P

Cathedral A 110 St IA S M North (110 St)

T F Pkwy (110 St) E P S 6 H K I

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R Mets–Willets Point T • 2 3 Q72 W

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R E S Hollis (110 St ) Q47 Y

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D T 7 Q48 LGA Airport M JAMAICA

D D

A A 1 A I

A N ESTATES

V A VD V DITMARS BL LVD Mets–Willets Point S M CORONA B

V Astoria ORIA T

T AS

R 103 St 103 St Q3 Ditmars Blvd ASTORIA 111 St

I 103 St 3

V M A • • 1 E 1 B C N W 82 ST • V

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S R F 1 P

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S 1 A FLUSHING F I S

R T T D M60 SBS O MEADOWS Jamaica H K Y E LIRR

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D S 96 St 96 St Astoria Blvd 82 St–Jackson Hts X KEW 179 St V A V E

R T 103 St–Corona Plaza 96 St

PARK V • 96 St E G 6 Q M60 SBS N W LaGuardia Link Q70 SBS JACKSON GARDENS F N

I • • 3 L I 1 2 3 • N 7 D P 6 HEIGHTS W B C a R HILLS HILLCREST A V LGA Airport W R A A S G S E

2 74 St–Broadway H O A A 169 St T u

S N 1 Junction Blvd 1 E S IC Y a

T r 2 C B A

S S d T A L V F M River S •

MANHATTAN T i R V a 7 Q72 LGA Airport A A M V D T J

O 30 Av Northern BlvdL E V A B 30 A i H n

C 86 St 86 St VERNON BLVD D

L k L I

86 St R 86 St • Q E E

Hudson S E N W Steinway St 90 St–Elmhurst Av

7 C O • • J W L Parsons Blvd

N • X 4 5 6 Q 0 U L B C E O I

1 A UPPER E S N

I T B V 7 J H

N C D N L S F R 7 A T

WEST U 65 St I W UPPER D 46 St T O A M • L N JAMAICA

T M METROPOLITAN

L E

A • SIDE EAST B O • V

R L

B Y 81 St–Museum E P R 7 V

MUSEUM N M S D

U Sutphin Blvd SIDE A 79 ST • O

79 St M S

R O of Natural OF ART R Amtrak • LGA Airport R Broadway F V

K R A

1 • R

V History • W • Q72 A N W BROADWAY • R Forest Hills • M • F • F Jamaica Center V

E • R B C 77 St • R • 67 Av 71 Av • F Kew Gardens E • F S BLVD Briarwood LONG Elmhurst Av • R 63 Dr–Rego Park 75 Av QUEENS Parsons/Archer T M E Union Tpke 6 36 Av • R E M ISLAND M Woodhaven Blvd M E V Y Grand Av • • E 72 St A E J Z R 72 St 72 St O CITY M R R N 36 St Newtown E I • • R • Jackson Hts C 1 2 3 • CENTRAL W H K TRANSPORTATION B C Lexington Q K 69 St M Av/63 St 68 St Roosevelt Av C B PARK 21 St M R A 7 L • E Kew A V

Hunter V REGO PARK 39 Av R • BLVD Jamaica D F Queens- s F S • s • QUEEN Gardens The subject property is located roughly 10 blocks from the 7-train at the Vernon / Jackson Avenue station, with service to Grand Q College re 61 St M Forest 66 ST p Woodside • LIRR Central in less than 10 minutes. The Long Island Railroad is also nearby at Hunters Point Avenue.66 For St car/truck transportation, the bridge N x Woodside R E • e • Hills KEW Q10 6 RooseveltF W on 7 LaGuardia Link Q70 SBS Sutphin Blvd property is situated next to the Pulaksi Bridge, and roughly 500 yards from the LongLincoln Island Expressway Center (I-495) on/off ramp. 41 AV F cti •LaGuardia Link Q70 SBS GARDENS Island ire 52 St Q47 Jamaica d V Archer Av 1 k 7 Van Wyck ea 46 St A FOREST p V rush hour LGA Airport (Marine Air Term only) Y A JFK Airport ROOSEVELT D Queensboro Bliss St HILLS A AN Lexington Av/59 St N T • • • ISLAND W LI E J Z LIRR 7 A • • K PO 60 ST T R A M W A Y Plaza R N R W 40 St R RO 59 St • • 33 St-RawsonLowery St St G JUNIPER A T N W 7 P E V 59 ST 7 VALLEY M A Queens 7 N 121 St N Columbus Circle 5 Av/ QUEENSBORO BRIDGE O RICHMOND 59 St Plaza PARK B S Z rush hours, • • • • • 57 St-7 Av 57 St HILL A B C D 1 7 Av 59 St • • N W D 4 5 6 E I FOREST WEST • • • • Court Sq-23 St • Y N Q R W • • M B J other times C E F N R W • • • PARK K SIDE 53 ST Lexington Av/53 St E M E M R O R L E 53 ST 111 St EF X E F P D I ER V MIDDLE TS W S L Locust B K B R J BL Y U VILLAGE C VD T N O 1 Manor 5 Av/53 St A P E 50 St A 51 St Court Sq H D 50 ST A J D 49 St S 50 ST Ozone Park I IN • V • W • V N L southbound C E 50 St I E M

X G 7 • • 6 V A 104 St A N R W 7 11 B T A A 1 Lefferts Blvd L Y S V 1 H 47–50 Sts C T I Z rush hours, T D northbound 2

42 St/Port Authority 3 N A

A I V A

Rockefeller Ctr A A M LIRR

A V UNITED O E A J other times V L J

V Bus Terminal P T • • • 21 St R B D F M NATIONS N Middle Village Y 111 St • • M Woodhaven Blvd W AIRTRAIN JFK A C E 42 ST G E OO WOODHAVEN Q10 E Metropolitan Av • DH A LINCOLN TUNNEL Hunterspoint Av R J Z AV G XPWY E V Times Sq-42 St ND E M N A 5 Av Grand Central Vernon Blvd ISLA BL Y 42 St Hunters Point Av LONG GLENDALE VD T 104 St N•Q•R•S•W•1•2•3•7 7 except 85 St–Forest Pkwy R JAVITS 42 St S Jackson Av • E Bryant Pk 49 ASH 7 LIRR IB A CENTER except Fresh Pond Rd J L S • • • S•4•5•6•7•Metro-North QUEENS 7STREET B D F M MIDTOWN M Rockaway Blvd 34 St TUNNEL AV 75 St–Elderts Ln

34 St 34 St E Long 34 St QUEENS N A NJTransit • Amtrak I 33 St A MASPETH Forest Av G Island IT Z rush hours, Hudson Penn Herald Sq P M L

Penn 5 H PO A A 6 BROOKLYN O M A T • • • N R

Yards Station Station B D F M R E City H T J other times H V E 88 St 33 St 28 St K A M RIDGEWOOD

• • • • • • 28 St T

A • • • T 7 A C E LIRR S 28 St N Q R W a 1 2 3 LIRR • A A A V Cypress Hills

E R W V N Seneca Av 6 V s 1 B GREENPOINT A V CROSS BAY BLVD S V Greenpoint Av CHELSEA E R A J t U M 23 ST N O 23 ST G A A S T 23 St S 80 St

23 St 23 St 23 St 23 St D 23 St • 6 R Bedford Av A H W • 5 N

• • i Crescent St A

11 AV • A 10 AV C E F M • 4 9 AV 1 R W A 6 L V v •

6 Av Y • W Jefferson StDeKalb Av J Z • W R e Nassau Av 18 St • R • G L L Halsey St OZONE • Q r Aqueduct • Q WYCKOFF AV L PARK 8 Av • N Norwood Av 1 L 14 St–Union• N Sq GrahamL Myrtle Grant Av Racetrack L 14 St 14 ST L L 3 Av L 1 AvL N 7 ST Lorimer St Grand St Av Z rush hrs, J other times

3 2

1 L Wyckoff Avs A A W B U Morgan Av

A northbound T Q3 A S 14 St A H Montrose Av Knickerbocker Av S E W • Cleveland St

V 14 St 14 St V L L M V I Wilson Av S C N Aqueduct K L • • A O T A C E • • • V M Chauncey St L T J 1 2 3 F M Astor Pl Metropolitan Av L S 9 St EAST E 8 ST U North Conduit Av B15 T F BUSHWICK Euclid Av 7 8 St-NYU L Z rush hours, F D G J other times Van Siclen Av G A 6 Bushwick Av Z RE B VILLAGE • V • A Q10 E R Central Av N H • F O A A C W AT R W W BUSHWICK AV Aberdeen St • L B IC P A Z rush hrs, Y L H E D • J T HUDSON RIVER PARK EE WASHINGTON Y M L C A R R WILLIAMSBURG V R 5 KE V E Y • C J other times E R A V W T B ST 4 SQUARE PARK E Broadway I A S T L L Shepherd Av T T Alabama Av IN 8 E Junction AIRTRAIN JFK NOHO E 4 ST R ITK W 4 St EAST Y • P C S • M AY A Broadway • M M BROADW Gates Av J Z Christopher St T RIVER LorimerJ StFlushingJ Av Howard Beach Wash Sq Halsey St G Z rush hours, • • • • • • PARK Kosciuszko J Stother times J Van Siclen Av JFK Airport A B C D E F M M LOWER Myrtle Av JFK Christopher St 1 BLEECKER ST Bleecker St • J J Liberty • F E • Atlantic Av C A S EAST SIDE G Sheridan Sq 6 RID M INTERNATIONAL I • D B • X Av HOUSTON ST B’way–LafayetteB 2 AvStF RG Z L AIRPORT T U 4 GREENWICH SB • M East NYV HOWARD BEACH H M • Z Rockaway A C EAST IA J weekday peak N New Lots Av VILLAGE • Z LL A I • M Av S NEW V W I 1 Houston St A V J direction express N • M G U C 3 Prince St D YORK R TH N ST • J N E PA TO 1 I Delancey St Marcy Av I R US C • O HO R W Spring St Hewes St N E Van Siclen Av K T N AirTrain stops/ Spring St Essex St A S Sutter T Myrtle Ralph Av A 2 S S V N 6 LITTLE ITALY F Y O V 3 terminal numbers T • SOHO E C Av ST C E NC FlushingBEDF Av T G A O Willoughby Avs L PRIN GRAND ST DEL RD U L Pennsylvania Av 14 B6 REAL ESTATE ADVISORS S 49 ASH STREET 15 AV F V G AN T P L CANAL S Nostrand Avs 3 E SI D TUNNE Canal St Canal St YCanal St • Z Grand St N C HOLLAN W OCEAN HILL- N LE A J S N A•C•E B•D A Bedford Utica Av YL A 1 W NAVY S BROWNSVILLE Livonia Av V V • • • C H BEDFORD- A Junius St AN TRIBECA D J N Q R BoweryANAL S East T YARD IN • IA A STUYVESANT C • • R G 3 L O U C W Z 6 Broadway T Franklin St CHINATOWN T G O R E Classon Av H RS S N A B T V U Y F Rockaway Av 1 6 A York St V New Lots Av Lawrence W R W DGE A B N BRI F FORT GREENE E Washington Avs G V C Chambers St E TTA 3 E MANHA TL A L B15 JFK Airport H S R Kingston IA Far Inwood T • Y A C M U N Chambers St S F Throop Avs LIRR S Park Chambers St L T T O Rockaway T A S I Saratoga Av IV T • • T FORT GREENE Clinton C N C L 1 2 3 City • B V E Place J Z U G A G A High St S PARK 3 J R H E Nostrand Av E A BATTERY 2•3 Hall DUMBO • A A T B V East 105 St CROSS BAY BLVD Far Rockaway A C Y V T Brooklyn Bridge E A PARK CITY • BROOK DeKalb Av Fulton St • L R W LYN B S Y Nostrand Av RIDGE A Franklin AvC Mott Av City Hall 4•5•6 T • • F Crown Hts Sutter Av–Rutland Rd World Trade B Q R G A A L C 3 • CROWN Utica Av Center Clinton C T S Beach 25 St BROOKLYN S HEIGHTS 3•4 E Jay St WashingtonON Avs PATH WTC BROOKLYN HEIGHTS LT B A Fulton St U E G F FINANCIAL BRIDGE MetroTech D AY Court St F W U • • • • • • O K T S D DISTRICT A C J Z PARK A C F R R I Canarsie JAMAICA E LV R Beach 36 St AGIRT B WTC Cortlandt R PA C • • • D A 2 3 4 5 Lafayette Av N Kingston Av Rockaway Pkwy BAY 1 R A A Cortlandt St A TE V R • 3 V WILDLIFE D • Wall St C AS 3 L R W 2 L T Nevins St Atlantic Av–Barclays Ctr E R CANARSIE REFUGE E 4•5 Wall St S EM N Beach R • • • • • • • • • SEN N E Clark St • 5 2 3 4 5 B Q 2 3 4 5 LIRR • 5 A A • T V Broad 44 St 2 3 T • 4 Park • 4 Nostrand Av H Rector St Rector St A S Franklin Av C Y W • 3 • 3 P Channel A • FLATBUSH AV Pl 3 O H 1 R W A 2 2 R EAST • C W Broad St 7 Av Beach Hoyt • Q S H A S A T D Hoyt St B E • S N FLATBUSH Borough Hall I V B A J Z Schermerhorn 60 St M President St W A • O 2,3 and 2 3 V I • • A S

T • R NEW YORK A C G • 3 2 5 A D northbound H H

B GEN ST 2 C N

TRANSIT MUSEUM BER Botanic R

4,5 A

• LIRR F Sterling St U CROSS BAY Beach L

H O VETERANS’

Bowling Green CARROLL Garden Whitehall St T Jamaica • R C MEMORIAL

• 3 • U

• 3 2 5 A S 67 St • GARDENS • N Bergen St 2 4 5 • G R S L BRIDGE South Ferry T N ST 2 UNIO Plaza F

D T F A R•W H BROOKLYN Bay South Ferry Bergen St A Winthrop St H R Grand Army • 5

V BOTANIC I PARK Prospect 2 1 C Eastern Pkwy K GARDEN • G Union St SLOPE BROOKLYN S F Park K

Atlantic Av–Barclays Ctr Church Av S ST • • • 5 I N

y 9 B Q S H ELLIS T r H 2 U G G E r H ISLAND L. CAREY TU Carroll St NINTH ST BrooklynPROSPECT Museum GATEWAY NN N S e EL F Beverly Rd Beach 90 St • 5 R N

F I s PARK H NATIONAL u • R F • G O • m Y • G 2 W Smith T 7 Av S A S d m 9 Sts • G F T RECREATION e S F H n r o F R Y T n RED A Newkirk Av a ly A AREA– l N • 5

4 Av–9 St V s HOOK Parkside Av D 2

I JAMAICA BAY A D 15 St FLATBUSH Beach 98 St V LIBERTY n • G V Q L e PROSPECT AV F ISLAND • B t GOVERNORS A S a Prospect Av V t ISLAND A FLA H S R E TBUS C H Flatbush Av A ID AV S Brooklyn College E K Church• Q Av • 5 Beach 105 St B

Prospect Park R B 2 FLATLANDS Y A • P A S A Beverley Rd H W V Fort Hamilton Q A Rockaway Park A 25 St K St. George F Beach 116 St C O Pkwy R Cortelyou Rd O U • Q A•S R R F G B N E O T E GREEN-WOOD C 1 S R Tompkinsville H D Y O 5 T Newkirk Plaza F R D WEST NEW W N S • Q O A CEMETERY A K E T B R N L BRIGHTON V P Y E D D

M Stapleton O IS southbound A N SNUG HARBOR N C C A O L Avenue H V V N PORT CULTURAL CENTER T D E A O A N A E IL • G Q AC RICHMOND N N D FLOYD H R RR M F ICHMOND TE SILVER A P A MIDWOOD C Clifton 36 St A L K V M BENNETT D LAKE H W H V O V MARINERS V PARK A • • A Y C A FIELD C T A D N R T V HARBOR S T E A ROCKAWAY E R R L Church Av A O I 39 ST E F B O N B PARK R Avenue J W F A N CLOVE E FOX EST END LINE V O D F C B Q Y S LAKES N HILLS WESTERLEIGH ROSEBANK U R A T PARK A 45 St L I R MARINE PARKWAY- V V G W A MARINE SSWAY VERR • D E H H N PRE AZZAN SUNSET 9 Av R EX O-N N R F T G D GIL HODGES CASTLETON ARR O I PARK D OWS L N BR PARK I N H MEMORIAL STATEN CORNERS BLVD LA IDG Ditmas Av18 Av N TORY S E Avenue M JACOB VIC I E L S N D IN A BRIDGE TE Q G V A F E RIIS ST Grasmere Pkwy IN 53 St BOROUGH K PARK ISLAND PARK TODT N•R D Avenue I U COLLEGE OF 9 V BULLS HILL Fort Hamilton 50 St A Old Town

R STATEN ISLAND Bay HEAD A I F KingsQ Hwy V • C

H Pkwy B M 59 St D Z O E V V CHELSEA Dongan Hills 55 St A NEW N 1 A SEA • 6 D N R S SPRINGVILLE 61 ST Avenue N N VIEW D S PARK A V T O V STATEN HOSPITAL L F M B

ISLAND Jefferson Av Avenue P M

MALL Avenue U F N Grant City E N N N N N Q A 8 Av W L N 18 Av Kings Hwy y 20 Av a Y D U H Bay Ridge Av Pkwy F w 62 St T N M il R C Neck Rd New Dorp SHEEPSHEAD a E D Y R Q R C O BAY W H N P d NEW Fort Hamilton A X n T Bay Pkwy L Sheepshead• Q Bay E a l DORP A D F New Utrecht Av B E Oakwood Heights Is V A BEACH O N R D Kings Avenue U LA TOURETTE 77 St Hwy V O n U 71 St F H e PARK t R Coney Island bound S BAY RIDGE BENSONHURST R a T T RICHMONDTOWN t D FRESH S ARDEN S VERRAZZA H N skips stops due Brighton Beach V E NO-NAR ROWS L KILLS HEIGHTS A W A to construction B• B D Bay Terrace T V Q L R Avenue U Avenue X T A KIL D BRIGHTON RTHUR M GREAT BRIDGE P KILLS until86 springST 2019 79 St 86 ST F 86 St N BEACH Y Great Kills PARK D A R Neptune Av W 18 Av 86 St A D 25 Av F Ocean Pkwy K D N C D Q O Bay Ridge 20 Av R D R DYKER L 95 St Bay 50 St L I Eltingville BEACH Bay Pkwy BREEZY K R D R PARK POINT U West 8 St H Annadale T

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

Richmond Valley Arthur Kill

Tottenville

NEIGHBORHOOD GREENPOINT

Greenpoint is Brooklyn’s northernmost neighborhood, bounded by Williamsburg, East Williamsburg, Newtown Creek, Long Island City, and the East River. Historically, Greenpoint has had a large Polish population, hence the reason for so many Polish businesses, and the neighborhood’s nickname, Little Poland.

Traditionally, Greenpoint has been seen as a working-class neighborhood, which offered jobs in manufacturing, heavy industry, and factories. In the 19th century, much of the residential core of Greenpoint was built, with factories and industrial sites surrounding it to the west, lining the East River, along the coast to the north and northeast, along Newtown Creek.

In May of 2005, the City council adopted new zoning designations throughout Greenpoint and Williamsburg. A large majority of then industrially zoned land was rezoned for residential use, changing the landscape of the area tremendously. The rezoning also made way for a twenty-eight acre city park on the waterfront. In July of 2009, a subsequent rezoning was passed covering swaths of land further east in the neighborhood. Major corridors were up-zoned and the side streets were mapped more contextually.

Though parts of Greenpoint still serve as a major industrial hub for NYC, the community has seen a vast transformation over the last few decades. With several major residential developments coming to fruition, such as Brookfield’s Greenpoint Landing and Richard Mack’s The Greenpoint, the neighborhood continues to transform and mature as one of New York City’s most dynamic neighborhoods.

18 B6 REAL ESTATE ADVISORS 49 ASH STREET 19 LONG ISLAND CITY

49 ASH RETAIL MAP STREET

BARS & NIGHTLIFE 2A 3M 5A 1A Milk & Roses 1I Brew Inn 1Q Brooklyn Brewery 1X 1B Achilles Heel 1J Alameda 1R Goldies 3E 1C 1C Saint Vitus 1K Ramona 1S Westlight Rooftop 2C 3L 1A 1D The Springs 1L Oak & Iron 1T Capri Social Club 4D 1E Brooklyn Barge 1M T0rst 1U The Gutter 3V 2Q 1F Black Rabbit 1N Troost 1V Baby Grand 2M 1G Pencil Factory 1O Broken Land 1W Sunshine Laundromat 2B 2K 2F 1H Moonlight Mile 1P Spritzenhaus33 1X Greenpoint Beer & Ale 4N 1J 1D 1N 3B 3P 1B 2D 3C RESTAURANTS CAFÉ / ICE CREAM LIFESTYLE & GROCERY 5B 2G 3A Di An Di 2A Ashbox Café 4A McCarren Pool & Tennis 1H 3B Anella 2B Café Alula 4B Brooklyn Athletic Club 4M 3D 3C Esme 2C Eleva 4C Greenpoint Fish & Lobster 3N 1L 1I 3D Brooklyn Label 2D Franklin Corner Café 4D Crossfit Greenpoint 2N 3E Acapulco 2E Champion Coffee 4E Academy Records 2J 3G 1K 1F 3S 4J 3F Chez Ma Tante 2F Sweetleaf Coffee 4F Crunch Fitness 3A 3U 2L 1G 3G 21 Greenpoint 2G Old Fox Coffee 4G Vital Climbing Gym 1O 4K 2H 3H Five Leaves 2H Upright Coffee 4H ACME Smoked Fish 1E 1W 2O 3I Bernie’s 2I Upstate Stock 4I Associated Supermarket 3O 4E 4F 3J El Born 2J Jungle Café 4J Key Food 1T 4I 5C 3K Calexico 2K Bakeri 4K CVS 3F 4L 3L Le Fanfare 2L Ovenly 4L Rite Aid 3M Glasserie 2M Eagle Trading Co 4M cTown Supermarket 3Q 2S 2R 3N Naked Dog 2N Starbucks 4N Greenpoint Natural Market

3O Le Gamin 2O Café Grumpy 4O Met Foodmarket 4H 1R 3P Agra Taj Mahal 2P Variety 3R 2E 3Q Polka Dot 2Q Spare Moment HOSPITALITY 3J 3H 3K 3R Frankel’s 2R Peter Pan Donut & Pastry 5A The Box House Hotel 4C 3S Paulie Gee’s Pizza 2S Davey’s Ice Cream 5B Franklin Guesthouse 1P 2N 2T 3T 3T Dar525 Greenpoint 2T Van Leeuwen 5C Henry Norman Hotel 4G 1M 2P 4O 1U 3U Oxomoco 5D The William Vale 1S 2I 1Q 5D 4B 3V Lobster Joint 3I 4A

1V 20 B6 REAL ESTATE ADVISORS 49 ASH STREET 21 WILLIAMSBURG E. WILLIAMSBURG 21 India Street (The Greenpoint) Greenpoint Landing Mack Real Estate 22 acres/ 11 towers 500 Units 5,500 Residential Units + Retail / Hospitality

77 Commercial Street Clipper Equities (Formerly owned by Chitrit Group) 3 Buildings, 720 Units (Per 2015 Plans)

1133 Manhattan Avenue Vorea Development 210 Units + Retail

The Box House Hotel 126 Rooms 49 ASH STREET SUBJECT PROPERTY

NEIGHBORHOOD ACTIVITY

22 B6 REAL ESTATE ADVISORS 49 ASH STREET 23 DUE DILIGENCE

24 B6 REAL ESTATE ADVISORS ZONING M1 ZONING M3-1

M1 districts range from the Garment District in Manhattan and Port Morris in the Bronx with multistory lofts, to parts of Red Hook or College Point with one- or two-story warehouses characterized by loading bays. M1 districts are often buffers between M2 or M3 districts and adjacent residential or commercial districts. M1 districts typically include light industrial uses, such as woodworking shops, repair shops, and wholesale service and storage facilities. Nearly all industrial uses are allowed in M1 districts if they meet the stringent M1 performance standards. Offices, hotels and most retail uses are also permitted. Certain community facilities, such as hospitals, are allowed in M1 districts only by special permit, but houses of worship are allowed as-of-right.

In M1-5A and M1-5B districts mapped in SoHo/NoHo, artists may occupy joint living- work quarters as an industrial use. Other than M1 districts paired with residence districts in Special Mixed Use Districts, M1-5M and M1-6M districts (by special permit) and M1-D districts (by authorization or certification) are the only manufacturing districts in which residences are permitted. However, in M1-6D districts, residential use may be allowed as-of-right on zoning lots under certain conditions.

In M1-5M and M1-6M districts, mapped in parts of Chelsea, space in an industrial building may be converted to residential use, provided a specified amount of floor area is preserved for particular industrial and commercial uses.

Floor area ratios in M1 districts range from 1.0 to 10.0, depending on location; building height and setbacks are controlled by a sky exposure plane which may be penetrated by a tower in certain districts. Although new industrial buildings are usually low-rise structures that fit within sky exposure plane, commercial and community facility buildings can be constructed as towers in M1-3 through M1-6 districts. In the highest density manufacturing district, M1-6, mapped only in Manhattan, an FAR of 12 can be achieved with a bonus for a public plaza. Except along district boundaries, no side yards are required. Rear yards at least 20 feet deep are usually required, except within 100 feet of a corner.

Parking and loading requirements vary with district and use. M1-1, M1-2 and M1-3 districts are subject to parking requirements based on the type of use and size of an establishment. For example, a warehouse in an M1-1 district requires one off-street parking space per 2,000 square feet of floor area or per every three employees, whichever would be less. Parking is not required in Long Island City or M1-4, M1-5 and M1-6 districts, mapped mainly in Manhattan. Requirements for loading berths of specified dimensions differ according to district, size and type of use.

Source: The Department of City Planning website. www1.nyc.gov. January 2017.

26 B6 REAL ESTATE ADVISORS 49 ASH STREET 27 INDUSTRIAL BUSINESS ZONE (IBZ) MAP OPPORTUNITY ZONE MAP

49 ASH STREET

28 B6 REAL ESTATE ADVISORS 49 ASH STREET 29 TAX BILL CERTIFICATE OF OCCUPANCY

30 B6 REAL ESTATE ADVISORS 49 ASH STREET 31 SURVEY

32 B6 REAL ESTATE ADVISORS 49 ASH STREET 33 DATA ROOM

DATA ROOM LINK: https://www.dropbox.com/sh/xeuoqir08i0at6i/AADMQHZRQEV2fymx8O_7eURna?dl=0

34 B6 REAL ESTATE ADVISORS 49 ASH STREET 35 CONFIDENTIALITY & CONDITIONS

The information contained in this offering memorandum (“Offering Memorandum”) is proprietary and strictly confidential. This Offering Memorandum was prepared by and is the property of B6 Real Estate Advisors LLC (“B6”) and has been reviewed by the owner (the “Owner”) of the Property. It is furnished solely for the purpose of review by a prospective purchaser of the Property and is not to be used for any other purposes or made available to any person without the express written consent of the Owner or B6. By accepting this Offering Memorandum, the party in possession hereof agrees to return it to B6 immediately upon request of B6 or Owner. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of B6 and Owner. Each prospective purchaser and/or broker proceeds at his, her or its own risk.

You have the obligation to keep this Offering Memorandum, and any various papers, documents, legal instruments, studies, leases, brochures, computer output, and other materials concerning the Property (all of the aforementioned information is collectively referred to as “Evaluation Material”) confidential. Certain Evaluation Materials, including the leases, are described in summary form. The summaries do not purport to be complete nor accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents.

The information in this Offering Memorandum has been compiled from sources deemed to be reliable and does not purport to be all-inclusive or to contain all of the information which a prospective purchaser may desire. Neither B6 nor the Owner makes any representation or warranty whatsoever regarding the accuracy, veracity, or completeness of the information provided herein and each of Owner and B6 (and their agents, advisors and representatives) expressly disclaim any and all liability for representations or warranties, express or implied, contained in this Offering Memorandum or the Evaluation Material or for omissions therefrom.

Financial projections and information contained herein and in any Evaluation Material, shall not be relied upon, are provided for general reference purposes only, and are based on assumptions relating to (and subject to) the general economy, market conditions, competition, and other factors beyond control and, therefore, are subject to material change, volatility or variation. A prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property. This includes legal, tax, environmental, engineering and other as deemed necessary relative to a purchase of the Property. This Offering Memorandum does not constitute an offer to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. This Offering Memorandum does not constitute an offer of securities.

The Owner expressly reserves the right, at its sole discretion, to reject any offer to purchase the Property or to terminate any negotiations with any party, at any time, with or without written notice. The Owner and B6 reserve the right to negotiate with one or more prospective purchasers at any time. This Offering Memorandum is subject to errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by B6. Only a fully-executed real estate purchase agreement, approved by the Owner, and executed and delivered to Owner and a prospective purchaser shall bind the property. In no event shall a prospective purchaser have any claims against the Owner or B6 or any of their affiliates, officers, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

The terms and conditions set forth above apply to this Offering Memorandum in its entirety.

36 B6 REAL ESTATE ADVISORS 49 ASH STREET 37 B6 REAL ESTATE ADVISORS 1040 Avenue of the Americas, 8th Floor New York, NY 10018 B6REALESTATEADVISORS.COM

FOR MORE INFORMATION, PLEASE CONTACT ONE OF THE FOLLOWING INDIVIDUALS

BRYAN KIRK ROBERT MOORE DJ JOHNSTON Director Director Partner, Senior Managing Director 646 933 2624 646 933 2650 646 933 2619 [email protected] [email protected] [email protected]