336 East 53Rd Street MARKETING TEAM

Home , 53rd Street (Manhattan), 59th Street (Manhattan)

336 East 53rd Street MARKETING TEAM

Peter Von Der Ahe 260 Madison Avenue, 5th Floor New York, NY Tel: (212) 430-5114 Fax: (646) 349-3308 [email protected]

Joe Koicim 260 Madison Avenue, 5th Floor New York, NY 10016 Tel: (212) 430-5147 Cell: (516) 425-2785 [email protected]

Danny Handweiler 260 Madison Avenue, 5th Floor New York, NY Tel: (212) 430-5138 Cell: (917) 242-2746 [email protected]

Jared Bernstein 260 Madison Ave, 5th Floor New York Tel: 646-805-1451 Cell: (862) 207-9441 [email protected]

336 East 53rd Street TABLE OF CONTENTS

INVESTMENT OVERVIEW Section I

PRICING & FINANCIAL ANALYSIS Section II

PROPERTY DESCRIPTION Section III

MARKET OVERVIEW Section IV

336 East 53rd Street INVESTMENT OVERVIEW 336 East 53rd Street | $11,950,000 Is being offered at

THE OFFERING These full-floor units are complemented by keyed elevator service, high beamed ceilings and generous closet space. All units utilize central Air-Conditioning and heat. New York Multifamily is pleased to offer the following opportunity located in the booming Upper East Side & Sutton With a vacant commercial space, this is the perfect opportunity for Place. 336 East 53rd Street is located on the South Side of 53rd a user to occupy the space as well as potentially use one or all the Street between Second and First Avenue. The building contains a apartment’s upstairs. gross square footage of 11,389 total square feet. The building is built 25 x 65 feet on a 25 x 100 lot (Block: 1345 Lot: 36). The Sutton Place area has continued to be one of the property is zoned R8B. Prime Location. most versatile in Manhattan. Not many places in New York City are surrounded by high-end luxury apartments, Class A office, world THE OPPORTUNITY class dining as well as Schools and Consulates. A short walk away there are numerous Consulates including Tanzania, Iceland & 100% Free Market. This unique opportunity provides an Royal Thai. Popular eateries such as: Pierre Loti, The Smith, investor with the ability to acquire an elevatored mixed-use Wolfgang’s and Crave Fish bar. Exercise hotspots including: Soul building that is 100% Free market. The building is comprised of 5 Cycle & Equinox. Also, in the area there are multiple Starbucks, residential units and 1 commercial unit. Regardless of the parking garages and luxury condominium buildings. investors use for the building, the Free Market status is extremely favorable in such a controversial political climate.

User Component. The commercial component of the building LISTING METRICS will be delivered vacant allowing an investor or user to come in and immediately utilize the space. There are two separate entrances to the building, one of which to the residential portion and elevator, and the other to the commercial. The commercial 6 11,389 component is highlighted by a private outdoor space. TOTAL UNITS TOTAL SQUARE FEET Of the five residential units, four of them are 2 Bedroom 2 Baths full floor units with an average rent of $6,000. Three out of the four 2-bedroom units have 2 private outdoor terraces. 25 ' $209,505 The penthouse unit features a duplex with two beds, two and FRONTAGE PROJECTED TAXES half baths, and three private terraces. All residential units consist of granite countertops and stainless-steel appliances as well as jetted bathtubs and oversized showers.

OFFERING MEMORANDUM SURROUNDING AREA MAP

10 Minute Walking Radius

Mr. Chow Hillstone 336 East 53rd Street M15 Consulate M57 General of Hungary Tal Bagels Pierre Loti Smith & Wollensky Consulate Consulate General General of of Thailand Nepal Consulate General of Peru Trump Consulate World General Consulate of Ukraine General Tower of Germany Consulate General Consulate of Singapore General of Saudi Arabia

PRICING & FINANCIAL ANALYSIS PRICING & FINANCIAL ANALYSIS

FINANCIAL OVERVIEW

INCOME CURRENT PRO FORMA $11,950,000 Gross Potential Residential Rent $405,360 $416,678 OFFERING PRICE Gross Potential Commercial Rent $120,000 $122,400 Gross Income $525,360 $539,078 PRICE PER SQUARE FOOT $1,049 Vacancy/Collection Loss ($8,107) ($8,334) PRICE PER UNIT $1,991,667 Other Income (Storage) $12,000 $12,000 TOTAL SQUARE FEET 11,389 Effective Gross Income $529,253 $542,745 TOTAL UNITS 6 Average Residential Rent/Month/Unit $6,756 $6,945 CURRENT CAP RATE 2.1% CURRENT GRM 22.2 EXPENSES PRO FORMA CAP RATE 2.2% Property Taxes Tax Class: 2A $209,505 $209,505 PRO FORMA GRM 21.7 Fuel $4,265 $4,265 PRO FORMA CASH ON CASH RETURN 0.77% Insurance $7,393 $7,393 Water and Sewer $6,500 $6,500 Repairs and Maintenance $8,500 $8,500 PROPOSED DEBT Common Electric (PPSF) $5,294 $5,294 Loan Amount $3,150,000 Super Salary $6,000 $6,000 Interest Rate 4.75% Management Fee $15,878 $16,282 Amortization 30 Elevator Contract $12,477 $12,477 Annual Debt Service ($199,110) Total Expenses $275,812 $276,216 Debt Coverage Ratio 1.27 Net Operating Income $253,441 $266,528 Net Cash Flow After Debt Service $67,419

UPSIDE ANALYSIS SCHEDULE OF INCOME

$8,000 UNIT BREAKDOWN TOTAL % OF TOTAL RENT

$7,000 Studio 0 0% $0

$6,000 1 Bedroom 0 0% $0

$5,000 2 Bedroom 5 100% $6,756

$4,000 3 Bedroom 0 0% $0

$3,000 4 Bedroom 0 0% $0

$2,000 5 Bedroom 0 0% $0 $1,000 6 Bedroom 0 0% $0 $0 SRO 0 0% $0 Studio 1 2 3 4 5 6 SRO Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom

Current Avg RS Units Market Rents Current Avg FM Rents

11,389 $1,049 22.24 2.1% SQUARE FEET

GROSS TOTAL SF $/SF GRM CAP RATE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property.Marcus &Millichap Real 336 East 53rd Street EstateInvestmentServicesis aservicemarkof Marcus&MillichapReal EstateInvestmentServices,Inc.©2019 Marcus&Millichap PRICING & FINANCIAL ANALYSIS

RENT ROLL

336 East 53rd Street

COMMERCIAL RENT UNIT TENANT NAME NOTES LEASE START EXPIRATION ACTUAL PRO FORMA

1 Vacant - Projected $10,000 $10,200 MONTHLY COMMERCIAL REVENUE $10,000 $10,200

RESIDENTIAL RENT UNIT# LEASE STATUS NOTES BEDROOMS ROOMS EXPIRATION ACTUAL PRO FORMA

2 FM 2 Baths 2 Bedroom 4 Aug-20 $5,500 $5,720 3 FM 2 Baths 2 Bedroom 4 Sep-20 $5,600 $5,824 4 FM 2 Baths 2 Bedroom 4 Jul-20 $6,100 $6,344 5 FM 2 Baths 2 Bedroom 4 Aug-20 $6,380 $6,635 6 FM 2.5 Baths 2 Bedroom 4 Mar-20 $10,200 $10,200 MONTHLY RESIDENTIAL REVENUE 10 20 $33,780 $34,723

ANNUAL RESIDENTIAL REVENUE $405,360 $416,678 ANNUAL COMMERCIAL REVENUE $120,000 $122,400

ACTUAL PRO FORMA TOTAL ANNUAL REVENUE $525,360 $539,078 There are currently 0 vacant units in the building. The super lives off site. There are 6 total units.

INCOME AND EXPENSE ANALYSIS

GROSS POTENTIAL INCOME ACTUAL PRO FORMA %EGI $/UNIT %EGI $/UNIT AVERAGE RENT Gross Potential Residential Rent $405,360 77% $67,560 $416,678 77% $69,446 PER MONTH Gross Potential Commercial Rent $120,000 23% $20,000 $122,400 23% $20,400 Gross Income $525,360 $87,560 $539,078 $89,846 $6,756 Vacancy/Collection Loss ($8,107) 2% ($1,351) ($8,334) 2% ($1,389) Other Income (Storage) $12,000 $2,000 $12,000 $2,000 PERCENT Effective Gross Income $529,253 $88,209 $542,745 $90,457 FAIR MARKET Average Residential Rent/Month/Unit $6,756 $6,945

EXPENSES Property Taxes Tax Class: 2A $209,505 40% $34,918 $209,505 39% $34,918 Fuel (Tenants Pay) $4,265 1% $711 $4,265 1% $711 100% Insurance $7,393 1% $1,232 $7,393 1% $1,232 Water and Sewer $6,500 1% $1,083 $6,500 1% $1,083 Repairs and Maintenance $8,500 2% $1,417 $8,500 2% $1,417 Common Electric (PPSF) $5,294 1.0% $0.46 $5,294 1.0% $0.46 Super Salary $6,000 1% $1,000 $6,000 1% $1,000 Management Fee $15,878 3% $2,646 $16,282 3% $2,714 Elevator Contract $12,477 2% $2,080 $12,477 2% $2,080 Total Expenses $275,812 52% $45,969 $276,216 51% $46,036 TAXES AS Net Operating Income $253,441 $266,528 PERCENT OF EGI

LEASE STATUS MIX UNIT BREAKDOWN % OF TOTAL RENT TOTAL AVG. RENT Total Units -- $43,780 5 $8,756 Total RS Units 0% $0 0 $0 40% Total RC Units 0% $0 0 $0 Total FM Units 100% $33,780 5 $6,756 Total Commercial -- $10,000 1 $10,000

RENTAL ANALYSIS BY UNIT TYPE TYPE % OF TOTAL RENT TOTAL AVG. RENT Studio 0% $0 0 $0 EXPENSE RATIO 1 Bedroom 0% $0 0 $0 2 Bedroom 100% $33,780 5 $6,756 3 Bedroom 0% $0 0 $0 4 Bedroom 0% $0 0 $0 5 Bedroom 0% $0 0 $0 52% 6 Bedroom 0% $0 0 $0 SRO 0% $0 0 $0

UPSIDE ANALYSIS $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom 5 Bedroom 6 Bedroom SRO

Current Avg RS Units Market Rents Current Avg FM Rents

CITY: New Yorki

STATE: NYi

BLOCK & LOT: 1345 / 36i

LOT DIMENSIONS: 25 ft X 100 fti

LOT SF: 2,500i

BUILDING DIMENSIONS: 25 ft X 65 fti

BUILDING SF: 11,389

ZONING: R8Bi

MAX FAR: 4.00i

AVAILABLE AIR RIGHTS: 550i

LANDMARK DISTRICT: Nonei

HISTORIC DISTRICT: Nonei

ANNUAL TAX BILL: __$209,505i

TAX CLASS: 2Ai

336 East 53rd Street BOROUGH

Manhattan is a significant part of a much larger population system; the New York City metropolitan area is the largest in the United States, with more than 19 million inhabitants in three states.

CONFIDENTIAL

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap

PROPERTY DESCRIPTION

FLOORPLANS

First Floor Arch

336 East 53rd Street PROPERTY DESCRIPTION

FLOORPLANS

Floor 2

336 East 53rd Street PROPERTY DESCRIPTION

FLOORPLANS

Floors 3- 4 - 5

336 East 53rd Street PROPERTY DESCRIPTION

FLOORPLAN

PENTHOUSE

336 East 53rd Street PROPERTY DESCRIPTION | PROPERTY PHOTOS

336 East 53rd Street MARKET OVERVIEW MANHATTAN

The island of Manhattan is one of New York City's five boroughs, New York Harbor contains docks for freight and approximately 13 miles long and two miles wide. Solid bedrock passenger ships and provides ferry service to New provides a firm foundation for the high-rise buildings that dominate Jersey and around the city. the skyline.

Manhattan's deep-water port and proximity to the nation's interior bolster its position as a global economic powerhouse. Manhattan MARKET HIGHLIGHTS also contains Central Park, which encompasses 843 acres in the center of the island and is considered one of the nation's premier public spaces. Large population: New York City is the United States’ largest BOROUGH city, with upwards of 8 million residents.

Manhattan is home to over 1.6 million residents who are part of a Top address for corporate headquarters: much larger population system. The New York City metropolitan 40+ Fortune 500 companies call New York area is the largest in the United States, with more than 19 million City home. inhabitants in three states. New York City consists of five boroughs with about 8.4 million people. High barriers to development: few parcels of developable Manhattan is well placed, situated 100 miles from Philadelphia, 210 land + high costs = limits to new construction. miles from Boston, 230 miles from Washington, D.C., and 790 miles from Chicago.

INFRASTRUCTURE GROWTH PATTERNS

New York City has an extensive mass-transportation network. Subway and bus systems serve virtually every area in the five boroughs. There are 468 stations in the New York City Transit subway system, including 147 stations in Manhattan. Grand Central Station and Penn Station, both in Midtown Manhattan, provide rail service to the suburbs and long-distance connections, while three international airports offer flights to most global destinations.

The island of Manhattan is linked to the other boroughs and New Jersey by 11 bridges and four tunnels for vehicular traffic, with numerous additional tunnels for subway and rail lines. Highways along the borough's eastern and western edges connect to freeways throughout the five boroughs.

336 East 53rd Street MANHATTAN

ECONOMY Manhattan is also an important location for many retailers, both national and local. Retail sales in the borough typically New York City is home to around 40 Fortune 500 grew faster than the U.S. rate over the past decade. companies, more than any other MSA in the country, and most are located in Manhattan. The city serves as the LABOR epicenter for a wide variety of industries, making the performance of its local economy integral to the nation. The Job growth in Manhattan slowed over the past five years as Port of New York is also a vital component of New York’s the economic downturn weighed on the local centrality to American and regional trade. manufacturing, information, trade, transportation and utilities, and financial activities sectors. As one of the leading financial centers in the world, New York City boasts many international banks and financial Professional and business services is the largest firms maintaining offices in the city. employment sector, accounting for over 470,000 positions, or 20 percent of the labor force. The government sector Wall Street is a major driver of the local economy, as a follows closely, with 19 percent of jobs in Manhattan. These significant number of people are employed directly in the sectors will post average annual gains of 2.3 percent and 1.2 securities industry. The city is also a hub for the media, percent, respectively, over the next five years. communications and publishing industries. The major television networks have substantial operations in The leisure and hospitality and education and health Manhattan, while hundreds of newspapers, magazines and services sectors will record the largest growth through 2015, several music recording companies are headquartered in increasing at average annual rates of 3.1 percent and 2.9 the city. In addition, New York City is the advertising capital percent, respectively. An annual gain of 2.9 percent is also of the United States and has a growing presence in the expected in the other services sector. Internet/new media field. The entertainment and tourism industries are crucial to the Manhattan economy, with numerous theaters and attractions drawing billions of dollars each year.

CONFIDENTIAL

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap MANHATTAN

EMPLOYERS DEMOGRAPHICS

Over half of Manhattan’s labor market is involved in New York City is the largest city in the United States, with financial activities and the services sectors. This is due to over 8 million residents. An estimated 19 million people live New York City being the headquarters of some of the within the tristate metro area. Among the five boroughs, largest U.S.-based consulting businesses, accounting Manhattan is third largest behind Brooklyn and Queens, offices, insurance companies and legal firms, as well as the with a population of over 1.6 million. Manhattan grew 0.7 United Nations. In addition, Manhattan is the financial percent annually during the past decade, a rate expected to center of the country and home to the New York Stock continue through 2015. Exchange, being one of the only two Alpha++ cities in the world, sharing the title with London. Many of the world's The share of Manhattan residents with a Bachelor’s degree top securities firms and banks are located here. Major is more than 34 percent, far above the national average of employers in the finance industry based in Manhattan almost 28 percent. Additionally, more than 14 percent of include Goldman Sachs, JPMorgan Chase and Morgan the borough residents over age 25 have a graduate degree, Stanley Smith Barney. compared to just over 10 percent nationally. There are significant and noteworthy differences between Media conglomerate Time Warner is the largest company in Manhattan’s demographic profile and the profile of the the information sector, employing thousands of people in nation. Manhattan from its headquarters at the Time Warner Center in Midtown. Other large media employers in the In particular, residents under age 20 make up only 20 borough are Viacom and Verizon. The education and health percent of Manhattan's population, compared to 27 percent services sector accounts for 13 percent of jobs in at the U.S. level. Additionally, residents ages 25 to 44 Manhattan. Large employers include New York University, comprise 37 percent of the local population, up from 27 Columbia University, New York-Presbyterian Healthcare, percent nationally, as this vital job market attracts many in Mount Sinai Hospital and Continuum Health Partners Inc. their prime working years.

336 East 53rd Street MANHATTAN

Although Manhattan’s median household income stands at There are two MLB teams, two NFL teams, two NHL teams a healthy $68,100 annually, the borough also has one of the and two NBA teams within the metro area. New York City highest housing costs in the country, with the median home has an extensive public park system, the jewel of which is price resting at nearly $1.2 million. Central Park in Manhattan offering natural areas, lawns, playing fields, running trails, biking paths, boating facilities QUALITY OF LIFE and a zoo.

Manhattan offers a quality of life unique even within the Manhattan also boasts world class art museums including nation’s largest cities. Although housing costs are among the Metropolitan Museum of Art, the Guggenheim and the the most expensive in the country, the borough provides a Museum of Modern Art. The city's international flavor is variety of cultural, entertainment and employment always on display in the island's many restaurants, featuring opportunities. The area is one of the few places in the recipes from around the world. United States where a person can live without a car and rely completely upon mass transit. You can get anywhere New York’s island of Manhattan continues to rise in culture, easily by taking the subway, buses or taxicabs, and rail quality of life, and wealth. As a global gateway city, New terminals and airports make long-distance travel accessible. York will continue to deliver promising opportunities and A variety of entertainment options are available to investment potential. Manhattanites, including Broadway shows, first-run films and famous nightlife venues.

CONFIDENTIAL

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap MIDTOWN EAST

GEOGRAPHY/ NEIGHBORHOOD AREA AMENITIES

Midtown East extends from 34th Street to 59th Street, The “Plaza District,” a term frequently used to specify the between Fifth Avenue and the East River. Within these most expensive region of Midtown from a commercial real boundaries lie smaller residential and commercial estate standpoint, lies between 42nd and 59th Streets, from neighborhoods with some of the most iconic buildings in Third Avenue to Seventh Avenue. As New York’s largest Manhattan: central business district, Midtown Manhattan serves as the busiest single commercial district in the United States, and Sutton Place, between East 53rd Street to East 59th Street is home to the most diverse group of real estate in the along the East River; Turtle Bay, from East 42nd Street to country 53rd Street, between Lexington Avenue and the East River; Tudor City, from East 40th Street to 43rd Street, between The majority of Manhattan’s tallest skyscrapers, hotels, and 1st and 2nd Avenues; Murray Hill, from East 34th Street to apartment establishments lie in the central business district East 42nd Street, between 5th and 2nd Avenues. of Midtown Manhattan. Midtown East is home to several of the largest corporations in Manhattan, including the Chrysler Building, Graybar Building, and the Lever House. AREA AMENITIES Even further, it is difficult to think about Midtown East without mentioning the iconic Empire State Building, which Living in Midtown not only offers the advantage of walking serves as an anchor to the amazing Manhattan skyline as to work, but being able to walk to everything. Filled with an well as a tourist magnet attracting visitors from across the abundance of stores and boutiques, Fifth Avenue is home globe. The Grand Central Terminal is another magnificent, to luxury shops that include Bergdorf Goodman, Saks Fifth historic building in Midtown East that has undergone a Avenue, Henri Bendel, and Tiffany’s, as well as fun multi-million dollar renovation and consequently inspired destinations like FAO Schwartz! Along Lexington Avenue is the restoration and development of new construction office the fashionable and landmark department store since buildings and hotels throughout the neighborhood. For 1861, Bloomingdales, or otherwise known as “Bloomies.” many professionals who wish to reside close to work, Once locals are done shopping and walking along Fifth Midtown East is the perfect place to live. The neighborhood Avenue, they enjoy no shortage of restaurants and bars to offers a mix of new-luxury high-rise condominiums as well choose from for entertainment. as traditional pre-war townhomes and classic cooperatives. Beekman Place and Sutton Place are two of the most Just at the northern tip of Midtown East is the most famous expensive neighborhoods in Midtown East, and feature park in the world: Central Park. For nearly 150 years, luxurious pre-war homes that are within walking distance of residents and tourists alike have been flocking to the park five area parks. for a peace and quiet escape. The park also offers activities that include strolling though Strawberry Fields and the Great Lawn, exploring the Central Park Zoo, relaxing on a SUBWAY ACCESS horse-drawn carriage ride, or even rowing a boat to the Loeb Boathouse. Whatever your recreational activity of 7 to Grand Central | 4,5,6 to Grand Central | 7 to Fifth Ave. choice, Central Park has something for everyone. | E,V to Fifth Ave.-53rd. St. | 6 to 51st St. | E,M to 53rd St.- Lexington Ave. | 4,5,6 to 59th St.-Lexington Ave.

336 East 53rd Street www.newyorkmultifamily.com

212 430 5114