Exclusive offering Memorandum Vacant Office Condo 110 E 40th Street, New York, NY 10016 Grand Central Vicinity / Prime Midtown East TABLE OF CONTENTS

3 Executive Summary

4-5 Floor Plans 6 Rent Roll - Projected Income & Expenses Eighth 7 Amendment

8 Interior Photos

9 Points of Interest

10 Neighborhood Details

11 Nearby Transportation

12 Transportation Map

13-15 Certificate of Occupancy Confidentiality & Disclaimer

Ety Lee Vice President 2 M: 917.680.2668 110 E 40th St, New York, NY 10016 [email protected] INVESTMENT Executive Summary As exclusive agent, Compass is pleased to offer the gutted, vacant 3,062 RSF office condo located at 110 East 40th Street for sale or lease, this property located in the very busy Grand Central Vicinity/ Prime Midtown East Manhattan. 110 East 40th Street has 9 stories and consists of 33 units. The plot is 95 ft x 98.75 ft and was built 95 ft x 85 ft. This properties impeccable location near Grand Central Station makes transportation to your desired location seamless and convenient. With a swift 2-3 minute walk, you can hop on the Metro North, 4, 5, 6, 7, B, D, F, M or S train and M1, M2, M3, M4, Q32, M42, M101, M102, M103 buses. Riders Paradise. This office condo has light, air from three sides. And this condo unit has 2 doors. This office condo is vacant, is ideal for investor and owner-user. Good for doctor's office, PR, law, accounting, real estate, venture capital, tech, media, advertising firms. PROPERTY INFORMATION Block 00895-7501 Location Between Lexington & Park Avenues Borough Manhattan Building Size/SF 95 ft x 85 ft - 66,567 sq ft Lot Size 95 ft x 98.75 ft - 9,481 sq ft Year Built 1915 Year Converted 2008 Zoning C5-2.5, C5-3 FAR As Built 7.02 Max FAR 12 Description Gutted, vacant 3,062 RSF 5th floor office condo has 2 doors in a 9-story, Grand Central Vicinity/Prime Midtown East, commercial building for sale or for rent. Remarks 2 short blocks from Grand Central Station and one Vanderbitt office building. Real Estate Taxes $33,453 2019/2020 Common Charges $23,952 Insurance $2,500 Projected Projected NOI $139,120

Asking Price Reduced: $2,850,000 with approved plans "As Is" Reduced Rent: $55 PRSF (3,062 SF) 3 110 E 40th St, New York, NY 10016 FLOOR PLAN Approved Plans

Proposed Layout

6 exam rooms Consultation room Office Lab Pantry 2 Bathrooms Reception area (8 Patients)

4 110 E 40th St, New York, NY 10016 FLOOR PLAN Quarter Divided Floorplate

3,062 RSF 2,948 RSF

2,424 RSF

5 110 E 40th St, New York, NY 10016 INCOME & EXPENSES Rent Roll

RENT ROLL (PROJECTED) - Income & Expense

Tenant Rentable Square Percentage of Projected Projected Annual Footage Common Interest Monthly Rent Rent Per Sq. Ft. Vacant 3,062 3.1146% $16,586 $65

INCOME & EXPENSE

Projected Income $PRSF Monthly Income Annual Rent

Vacant - Total Rental Space $65 $16,586 $199,030

Total Base Rent Income $199,030

Operating Expenses $ PRSF Actual Rent

Real Estate Tax (2019/2020) $ 10.91 $33,453

Common Charges $7.8 $23,957

Insurance projected $2,500

Total Expense $59,910

Projected NOI $139,120

6 110 E 40th St, New York, NY 10016 INCOME & EXPENSES Eighth Amendment

7 110 E 40th St, New York, NY 10016 PROPERTY PHOTOS Interior Photos

Light and air from three sides

8 110 E 40th St, New York, NY 10016 LOCATION Points of Interest

One Vanderbilt NYU Langone Medical Center

Manhattan’s East Side has emerged as Located in the heart of Midtown, for over one of the country’s premier healthcare a century Grand Central Terminal has and life sciences corri- dors and is served as a landmark of positioned in the heart of this dynamic that serves as a hub for transportation as area and sector of the economy. The well as having many shops and corridor is home to a roster of state of the restaurants, all of which are under the art hospitals, research centers and astounding artwork from the ceiling. teaching colleges including New York Presbyterian/Weill Cornell Medical Center, Lenox Hill Hospital Surgical Center In 2016, construction began what will Memorial Sloan Kettering Cancer Center, become the tallest office building in NYU Langone Medical Center, Bellvue New York City, upon completion, Hospital, Alexandria Center for Life which is expected by 2020. Sciences, Mount Sinai clinic and Rockefeller University. As these institutions expand and new ones enter the market, commercial and residential investments continue to benefit.

Grand Hyatt New York Public Library Main Branch

Built in 1919 first as the Commodore Hotel, Located right next to Grand Central, now the Grand Hyatt Hotel offers Established in 1911, the Main Branch the Chrysler Building finished luxurious stays in premier destinations. of the New York Public Library serves completion in 1930 and has been on of Completely renovated in 2011, the hotel as the home for an estimated 2.5 New Yorks biggest tourist attractions won the Corporate and Incentive Travel million volumes, and was declared a ever since. magazine “Award of Excellence.” National Historic Landmark in 1965.

9 110 E 40th St, New York, NY 10016 LOCATION Neighborhood Details

GRAND CENTRAL VICINITY: THE MARKET: Ever since the initial upbringing of the Grand This area is filled with class A office building Central Vicinity as an upscale area in the early and major retail hubs. There are a wide range 1900’s, this neighborhood has only continued to of complexes that fall within a range of afford- foster a classic NYC charm able to luxury prices.

WHAT TO EXPECT: THE LIFESTYLE: A location that fosters a young aura, filled with This area truly has it all for someone looking to diversified dining options and a plethora of engulf in a multidimensional living experience. hip nightlife scenes. This area is an ideal place There are as many affordable dining areas as for professionals and commuters as its located well as small boutique cafes, bagel shops and conveniently by Grand Central Station. Given brunch spots that are coined neighborhood the lively feel of this area, it is proven to be a favorites. By night, a so- cial and welcoming popular after-work destination as well as many atmosphere is fostered as local venues are filled happy hour specials attract young professionals with people indulging in the afford- able to unwind with a drink and a fast bite after a nightlife scene. long workday.

10 110 E 40th St, New York, NY 10016 LOCATION Nearby Transportation

TRAIN SUBWAY STOP

Grand Central Terminal

To Times Square

42nd St–Bryant Park

BUS BUS STOP(S)

Madison Ave–E 41st St M1, M2, M3, M4, Q32 5 Ave–W 41st St

M42 Lexington Ave–E 42nd St

Lexington Ave–E 42nd St M101, M102, M103 3rd Ave–E 42nd St

11 110 E 40th St, New York, NY 10016 LOCATION Transportation Map

110 East 40th Street

12 110 E 40th St, New York, NY 10016 LEGAL Certificate of Occupancy

13 110 E 40th St, New York, NY 10016 LEGAL Certificate of Occupancy

14 110 E 40th St, New York, NY 10016 LEGAL Confidentiality Agreement

This Confidential Offering Memorandum has been prepared exclusively by Urban Compass, Inc. d/b/a Compass (“Compass”) on behalf of Ownership, the (“Owners”), regarding the purchase of the commercial condos 501/502 at 110 E 40th Street, New York, NY 10016 (the “Property”). The materials and information contained in this Confidential Offering Memorandum do not purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All materials have been developed by Compass, the Owners and other sources and are subject to variation.

No representation is made by Compass or the Owners as to the accuracy or completeness of the infor- mation contained herein and nothing contained herein is or shall be relied on as a promise or representa- tion as to the future performance of the Property. Although the information contained herein is believed to be correct, Compass and the Owners and their employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information.

Further, Compass, the Owners and their employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Confidential Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. The Confi- dential Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the Owners since the date of preparation of the Offering Memoran- dum. Analysis and verification of the information contained in the Confidential Offering Memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon request to interested and qualified investors.

The Owners and Compass each expressly reserve the right, in their sole discretion, to reject any and all expressions of interest or offers regarding the Property and/or terminate discussions with any entity at any time with or without notice. The Owners shall have no legal commitment or obligation to any entity reviewing the Confidential Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owners and its legal counsel and any conditions to the Owners’ obligations thereunder have been satisfied or waived. Compass is not authorized to make any representations or agreements on behalf of the Owners.

This Confidential Offering Memorandum and its contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein called the “Contents”) are of a confidential nature. By accepting the Offering Memorandum, you agree (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, (iii) not to disclose the Confi- dential Offering Memorandum or any of its contents to any other entity (except to outside advisors re- tained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of the Owners or Compass, (iv) not to use the Confidential Offering Memorandum or any of its contents in any fashion or manner detrimental to the interest of the Owners or Compass, and (v) to return it to Compass immediately upon request of Compass or the Owners.

No inspections of the Property are permitted unless accompanied by the Owners or a representative from Compass.

Confidentiality 8 Disclaimer Commercial Condo Units 501/502 15 110 E 40th St, New York, NY 10016