42 ALLEN ST CORNER RETAIL CONDO | FULLY OCCUPIED 52’ of Ground Floor Frontage | Corner of Allen & Hester | Two Levels ASKING PRICE: $2,400,000

EXECUTIVE SUMMARY Cushman and Wakefield is retained exclusively on the sale of two commercial condo units at 42 Allen Street, located on the corner of Allen and Hester Streets. The two commercial condo units are part of an 8-story, mixed-use building featuring a total of 3 commercial units and 8 residential units. The offering includes a roughly 692 SF ground floor retail unit and a roughly 1,916 SF second floor unit. Both units are currently occupied by Ping Pod, a well-established table tennis studio offering private and group classes by a world class instructor. The ground floor is used for private instruction and has a separate lease expiring June 2025. The second floor is used for larger groups and has a separate lease expiring November 2024. Both leases commenced within the past year and offer the tenant a Five (5) Year Option. Ping Pod has not missed a rent payment throughout the pandemic. The property is only steps away from neighborhood hotspots such as Katz’s Deli, Whole Foods, Equinox gym, CVS, and Mr. Purple. This location is also within walking distance from the Grand and Delancey subway stops with access to the B, D, F, M, J, Z lines. The two commercial condos represent a strong opportunity for an investor to purchase a cash flowing asset in the highly trafficked and vibrant Lower East Side.

For more information, please contact Exclusive Agents:

MICHAEL F. DECHESER MAURICE SUEDE BRYAN F. HURLEY DANIEL SOYAK (212) 660 7772 (212) 589 5131 (212) 660 7706 (212) 698 5552 [email protected] [email protected] [email protected] [email protected]

Cushman & Wakefield copyright 2021. No warranty or representation, express or implied, is made to the accuracy or completeness of the informationCUSHMAN contained & herein, WAKEFIELD and same /is 1 submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 42 ALLEN STREET NEW YORK, NY PROPERTY INFO & FLOOR PLANS

PROPERTY INFORMATION TAX INFORMATION LOCATION Northeast corner of Allen and Hester GROUND FLOOR R.E. TAXES (20/21): $12,782 Street GROUND FLOOR CAM (Annual): $5,088 BLOCK / LOT 308 / 1010 & 1011 Total: $17,870 UNIT DIMENSIONS 22’ x 30’ & 22’ x 100’ Approx. SQUARE FOOTAGE 2,608 SF Approx. 2ND FLOOR R.E. TAXES (20/21): $29,710 FRONTAGE 52 Feet Approx. 2ND FLOOR CAM (Annual): $12,782 CEILING HEIGHT Approx. Total: $32,492

Ground Floor Unit (Corner Unit Only)

Second Floor Unit (Entire Floor)

For more information, please contact Exclusive Agents:

MICHAEL F. DECHESER MAURICE SUEDE BRYAN F. HURLEY DANIEL SOYAK (212) 660 7772 (212) 589 5131 (212) 660 7706 (212) 698 5552 [email protected] [email protected] [email protected] [email protected]

Cushman & Wakefield copyright 2021. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 42 ALLEN STREET NEW YORK, NY FINANCIALS

ACTUAL REVENUE Unit Tenant NSF Lease Exp. Price/ SF Monthly Rent Annual Rent

1 PingPod 692 Mar-25 $95 $5,459 $65,508

2 PingPod 1,916 Nov-24 $58 $9,270 $111,240 Total: 2,608 $68 $14,729 $176,748

ESTIMATED EXPENSES: $/SF Real Estate Taxes (20/21): $21.42 $41,041 Common Charges: $11.20 $21,468 Water/Sewer: (Tenants Pay) - - Electric: (Tenants Pay) - - Insurance: $1.00 $2,608 Heat: (Tenants Pay) - - Repairs and Maintenance: (Tenants Pay) - - TOTAL: $33.62 $65,117

NET OPERATING INCOME Gross Annual Income: $176,748 Vacancy & Credit Loss (3%): $(5,302) Expenses: $(65,117) Net Operating Income: $106,329

Cap Rate: 4.43% Price Per Square Foot: $920

For more information, please contact Exclusive Agents:

MICHAEL F. DECHESER MAURICE SUEDE BRYAN F. HURLEY DANIEL SOYAK (212) 660 7772 (212) 589 5131 (212) 660 7706 (212) 698 5552 [email protected] [email protected] [email protected] [email protected]

Cushman & Wakefield copyright 2021. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 42 ALLEN STREET NEW YORK, NY LEASE ABSTRACT

Tenant: Ping Pod Inc.

Address: 42 Allen Street

Lease Type: Net Lease

Gross Leaseable Area: 692 SF (approx.)

Floors: Ground Floor

Commencement Date: July 1st, 2020

Expiration Date: June 30th, 2025

Rent Escalation: 3%

Lease Extension Option: Five (5) Year Option

RE Taxes Base Year (2019/2020): $30,153

Tenant's Proportionate Share (RE Taxes): 100% of any increases from the "Base Year Taxes"

Utilities Passthrough: Direct Meter

Security Deposit: $10,600

BASE RENT:

YEARS START DATE END DATE MONTHLY RENT ANNUAL RENT

1 July-20 June-21 $5,300.00 $63,600.00

2 July-21 June-22 $5,459.00 $65,508.00

3 July-22 June-23 $5,622.77 $67,473.24

4 July-23 June-24 $5,791.45 $69,497.44

5 July-24 June-25 $5,965.19 $71,582.32

For more information, please contact Exclusive Agents:

MICHAEL F. DECHESER MAURICE SUEDE BRYAN F. HURLEY DANIEL SOYAK (212) 660 7772 (212) 589 5131 (212) 660 7706 (212) 698 5552 [email protected] [email protected] [email protected] [email protected]

Cushman & Wakefield copyright 2021. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 42 ALLEN STREET NEW YORK, NY LEASE ABSTRACT

Tenant: Ping Pod Inc.

Address: 42 Allen Street

Lease Type: Net Lease

Gross Leaseable Area: 1,916 SF (approx.)

Floors: Second Floor

Commencement Date: December 1st, 2019

Expiration Date: November 30th, 2024

Rent Escalation: 3%

Lease Extension Option: Five (5) Year Option

RE Taxes Base Year (2019/2020): $10,727

Tenant's Proportionate Share (RE Taxes): 100% of any increases from the "Base Year Taxes"

Utilities Passthrough: Direct Meter

Security Deposit: $18,000

BASE RENT:

YEARS START DATE END DATE MONTHLY RENT ANNUAL RENT

1 Dec-19 Nov-20 $9,000.00 $108,000.00

2 Dec-20 Nov-21 $9,270.00 $111,240.00

3 Dec-21 Nov-22 $9,548.10 $114,577.20

4 Dec-22 Nov-23 $9,834.54 $118,014.52

5 Dec-23 Nov-24 $10,129.58 $121,554.95

For more information, please contact Exclusive Agents:

MICHAEL F. DECHESER MAURICE SUEDE BRYAN F. HURLEY DANIEL SOYAK (212) 660 7772 (212) 589 5131 (212) 660 7706 (212) 698 5552 [email protected] [email protected] [email protected] [email protected]

Cushman & Wakefield copyright 2021. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 42 ALLEN STREET NEW YORK, NY PHOTOS (Courtesy of Pingpod)

Ground Floor Facing Front (Hester Street) Second Floor Facing Corner (Allen & Hester Street)

Second Floor Facing Rear (Allen Street) Second Floor Facing Front (Hester Street)

For more information, please contact Exclusive Agents:

MICHAEL F. DECHESER MAURICE SUEDE BRYAN F. HURLEY DANIEL SOYAK (212) 660 7772 (212) 589 5131 (212) 660 7706 (212) 698 5552 [email protected] [email protected] [email protected] [email protected]

Cushman & Wakefield copyright 2021. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 42 ALLEN STREET NEW YORK, NY AMENITIES MAP

H ou st E on 7 AMENITIES MAP S t th t t S S S y t n b a s E iv o E 6 l 42 ALLEN STREET r th l C 2n u d S S e t S t v A E

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Restaurant & Grocery 19 Gelso & Grand 38 Zest Sushi 4 The Ludlow Retail

1 Ruby's Cafe 20 Starbucks 39 The Ten Bells 5 Hotel Indigo 1 CVS Pharmacy 2 Katz's Delicatessen 21 Hometown Hotpot & BBQ 40 Cafe Katja 6 Orchard Street Hotel 2 CVS Pharmacy 3 Rite Aid 3 Blue Ribbon Sushi Izakaya 22 Blue Bottle Coffee 41 Orchard Grocer 7 citizenM Bowery Hotel 4 Target 4 Claw Daddy's 23 Yopparai 42 Breakroom 8 The Nolitan Hotel 24 Clancey 43 Whiskey Tavern 9 Hotel on Rivington Gyms 5 Lombardi's Pizza 25 Aunt Jake's 44 Reception Bar 10 The Solita SoHo Hotel 1 Solidcore Nolita 6 BareBurger 26 Shu Jiao Fu Zhou Cuisine 45 Trader Joe's 11 Sohotel 2 Equinox 7 Jadis Restaurant 3 Hit House 46 Popeyes Louisiana Kitchen 12 NobleDEN 8 SakaMai 27 Hotel Chantelle 4 F45 Training 47 Cheeky Sandwiches 13 Bowery Grand Hotel 9 Bowery Ballroom 28 Vanessa's Dumpling House 5 Mark Fisher Fitness 48 Joe's Shanghai 14 11 Howard 10 Marshall Stack 29 Burger King 49 Super Taste 15 Holiday Inn 11 Balvanera 30 Wayla 50 Forgtmenot 16 The Allen Hotel 12 Beauty & Essex 31 Somm Time 51 Kiki's 17 Wyndham Garden 13 One Mile House 32 Simple NYC 52 McDonald's 18 Hotel 50 Bowery NYC 14 Sons of Essex 33 Color Me Mine 19 Canal Loft Hotel 15 The Boil 34 Barrio Chino Hotels 20 Hotel Mimosa 16 Izakaya Juraku 35 Dudley's 1 Gatsby Hotel 17 Russ & Daughters Cafe 36 Dirt Candy 2 PUBLIC Hotel 18 Fig. 19 Bar 37 Noree Thai Bazaar 3 SIXTY LES

For more information, please contact Exclusive Agents:

MICHAEL F. DECHESER MAURICE SUEDE BRYAN F. HURLEY DANIEL SOYAK (212) 660 7772 (212) 589 5131 (212) 660 7706 (212) 698 5552 [email protected] [email protected] [email protected] [email protected]

Cushman & Wakefield copyright 2021. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. 42 ALLEN STREET NEW YORK, NY TRANSPORTATION MAP

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t S rl a e P For more information, please contact Exclusive Agents: t S nt ro t B F S ro h o ut k o ly MICHAEL S F. DECHESER n MAURICE SUEDE BRYAN F. HURLEY DANIEL SOYAK B r (212) 660 7772 id (212) 589 5131 (212) 660 7706 (212) 698 5552 g e [email protected] [email protected] [email protected] [email protected]

P ie Cushmanr & Wakefield copyright 2021. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is 17 submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions0 imposed0.05 by0 the.1 property owner(s).0.2 As applicable, we make no representation as to the condition of the property (or properties) in question. I Miles