VENTURE CAPITAL PROPERTIES

365 Canal Street New York, NY

Offering Memorandum

Yoel Sarraf Ryan Sabet

461 Fifth Avenue 461 Fifth Avenue New York, NY 10017 New York, NY 10017

Office (646)943-8606 Office (646)943-8629 Cell (516)567-0437 Cell (516)315-6596

[email protected] [email protected]

106&129-7/24/2020 Executive Summary 365-367 Canal Street

Property Description Venture Capital Properties has been retained on an exclusive basis to arrange for the Neighborhood: Soho sale of 365-367 Canal Street Type: M ixe d -Us e Block & Lot: 228-5 The property is an elevator mixed-use building located on Canal Street between West Building Size (Gross Above Grade): 19,802 SF Broadway and Wooster Street. This property features 42’ of frontage on Canal Street Building Dimensions: 42 ft x 81 ft and has high visibility from pedestrian and car traffic. The building consists2017of 2 Stories: 5 ground floor retail units (with cellar space) and 6 residential units. The retail units will Lot Size: 3,623 SF be delivered vacant. Zoning: M1-5B FAR: 5 The building was recently renovated. 2 of the 5 residential floors were gut renovated, a Max Buildable Area: 18,115 SF new sprinkler system was installed, and the façade was improved. The CO was also Net Operating Income (In-Place): $ 109,584 altered to include both retail and residential uses. Net Operating Income (Projected:): $ 589,584 The surrounding area is highly populated with 1,757 residents, 45,000 office workers, Price: $14,000,000 $707/SF and 9,000,000 tourist annually. This property is a short distance from many subway lines (A, C, E, N, Q, 6, and J), Cap Rate: (Projected): 4.21% multiple public parks, and NYU’s Washington Square Campus. 2016

All content subject to errors & omissions. Financial Details – P&L 365-367 Canal Street

Rent per month Income & Expense Detail Uni t Status Type Size Lease Exp. In-Place Projected In-Place Projected Retail (Ground) 3,500 SF Vacant $ - $ 40,000 Commercial: $ - $ 480,000 Retail (Lower Level) 3,500 SF Vacant $ - $ - Residential: $ 323,342 $ 323,342 2A 1,750 SF 3/31/2021 $ 6,841 $ 6,841 Gross Income: $ 323,342 $15/SF $ 803,342 $38/SF 2B 1,750 SF 12/31/2020 $ 7,000 $ 7,000 2017 Floor 3 IMD 3,500 SF $ 569 $ 569 Real Estate Taxes: $ 152,051 $7/SF $ 152,051 $7/SF Floor 4 IMD 3,500 SF $ 578 $ 578 Water & Sewer: $ 5,700 $ 5,700 5A 1,750 SF 7/31/2021 $ 5,958 $ 5,958 Legal & Misc.: $ 8,923 $ 8,923 5B 1,750 SF 4/30/2021 $ 6,000 $ 6,000 Management: $ 13,384 $ 13,384 Insurance: $ 19,800 $ 19,800 Total 21,000 SF $ 26,945 $ 66,945 Payroll: $ 10,400 $ 10,400 per year: $ 323,342 $ 803,342 Repairs & Maintenance: $ 3,500 $ 3,500 Total Operating Expenses: $ 213,758 $10/SF $ 213,758 $10/SF

Net Operating Income: $ 109,584 $ 589,584

Price: 2016$14,000,000 $667/SF Cap Rate: 4.21%

All content subject to errors & omissions. Property Photos 365-367 Canal Street

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All content subject to errors & omissions. Location 365-367 Canal Street

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2016

All content subject to errors & omissions. Zoning Maps 365-367 Canal Street

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All content subject to errors & omissions. Venture Capital Properties 461 5th Avenue New York, NY 10017