545 MAIN STREET Island House — Roosevelt Island, Manhattan, New York Two Commercial Condominium Spaces for Lease

Home , Main Street (Queens), Roosevelt Island

Exclusive Offering Memorandum 545 MAIN STREET Island House — Roosevelt Island, Manhattan, New York Two Commercial Condominium Spaces For Lease

COMMERCIAL UNIT 1 COMMERCIAL UNIT 2

CONTACT Mary Dunstan Senior Executive Assistant [email protected] 646.658.7308 Deal Highlights

• Located along the western shore of Roosevelt Island behind the Chapel of the Good Shepherd on West Road – Short distance to the F train, tram and Queensboro Bridge

• Proximate to Cornell Tech’s Roosevelt Island $2 billion, 12-acre applied sciences campus

• Two commercial condominium units which can be leased separately or together: — Commercial Unit NO.1 – 12,371 SF — Commercial Unit NO.2 – 6,344 SF

• Wide variety of permitted uses including, but not limited to, retail sales, professional/commercial office, restaurant, or community facility uses

• Lease term available to 2068

Western Elevation — Commercial Unit 1

2 545 Main Street Deal Highlights Site Plan

Commercial Unit NO.1

Commercial Unit NO.2

Site Plan 545 Main Street 3 Executive Summary

As exclusive agent, Eastern Consolidated is pleased to offer for lease two commercial condominium units that are part of the recently converted Island House Condominium and Cooperative (“Condop”) located at 545 Main Street on Roosevelt Island, Manhattan, New York. The available space is located along the western shore of Roosevelt Island behind the Chapel of the Good Shepherd along West Road with sweeping, unobstructed views overlooking Manhattan.

The Island House apartment complex was constructed in 1975 under the State Mitchell-Lama Program. In 2013, Island House withdrew from the Mitchell-Lama program and converted to a leasehold condominium which consists of four condominium units: the Residential Unit (containing 400 cooperative apartments), the Retail Unit which consists of the retail spaces along Main Street, and the two commercial condominium units which are the subject of this offering, Commercial Unit No. 1 and Commercial Unit No. 2. The Commercial Units are available separately, or together, for lease until 2068. Both Commercial Units offer a variety of permitted uses including, but not limited to, retail sales, professional/commercial office, restaurant or community facility uses (See Permitted Uses Section for more detail).

Commercial Condominium Unit No. 1 (Tax Lot 1903) is comprised of the former pool area of the Island House complex and contains approximately 12,371 square feet. Notably, ceiling heights in the pool area exceed 18 feet and there is a large atrium overlooking Manhattan. The pool has not been in operation for a number of years.

Commercial Condominium Unit No. 2 (Tax Lot 1904) is comprised of offices currently occupied by the on-site management offices as well as additional vacant office space. The management office will be relocated.

4 545 Main Street Executive Summary View of Manhattan from Commercial Units View of Manhattan from Atrium of Commercial Unit 1

5 545 Main Street Photos Exterior of Commercial Unit 2 Interior - Commercial Unit 1

Interior - Commercial Unit 2 Interior - Commercial Unit 2 Photos 545 Main Street 6 Cornell Tech’s Roosevelt Island Campus

The Cornell Tech’s Roosevelt Island Campus will feature, at full build in 2043, 2 million square feet will be built on 12 acres serving an academic community of nearly 2,500. It will be a new type of urban campus that provides space to think, but is also integrated—in both mission and design—with the city.

• The Bloomberg Center: Designed by Pritzker Prize-winning architect Thom Mayne of Morphosis, the academic building’s flexible space allows faculty and students to work independently and then quickly switch gears to form teams. A café and terrace invite the public in to share in the conversation. The building aspires to Net Zero energy use by generating its own. • The Bridge at Cornell Tech: Connecting industry with the curriculum and research is a key Cornell Tech tenet. In this corpo- rate co-location building established tech companies and fledgling startups are located side-by-side academic researchers with the goal of bringing new tech to market faster. Developed in partnership with Forest City Ratner Companies. • The House at Cornell Tech: Providing 350 units of housing, it will be the first high-rise residential building in the world built according to energy-efficient Passive House standards. At 270 feet it will be the tallest building—an iconic marker—on the campus. Developed in partnership with The Hudson Companies and The Related Companies. • The Verizon Executive Education Center: The center will provide another venue for collaboration between Cornell Tech and industry. The center will be a convening place for the entire tech community for conferences and meetups, allowing the campus to expand its impact on technology beyond academia. • The Graduate Roosevelt Island Hotel: The 197 room 140,000 square foot hotel will allow parents, professors and company leaders a comfortable stay while visiting the new tech campus. At 18 stories, the hotel will feature a restaurant, fitness center, function rooms and a rooftop with sweeping views of the Manhattan skyline. Source: tech.cornell.edu

Cornell Tech’s Roosevelt Island Campus 545 Main Street 7