TABLE OF CONTENTS

04. EXECUTIVE SUMMARY 06. PROPERTY OVERVIEW 10. FINANCIAL OVERVIEW 14. FLOOR PLANS & PHOTOS 20. LOCATION OVERVIEW EXECUTIVE SUMMARY "LOCATED BETWEEN CENTRAL PARK WEST & COLUMBUS AVENUE IN THE UPPER WEST SIDE NEIGHBORHOOD OF MANHATTAN"

We are pleased to offer for sale 5 West 91st Street, New York, N.Y. 10024 (the “Property”), a well-maintained, 6-story, 49,000+/- square foot elevatored residential building with 48 apartments, located between Central Park West & Columbus Avenue in the Upper West Side neighborhood of Manhattan.

The 100% occupied Property, which is situated across the street from Central Park, is comprised of 48 residential units plus a useable basement. Built in 1972, the property has been meticulously maintained and is in pristine condition.

INVESTMENT HIGHLIGHTS

• Prime Upper West Side location between Central Park • Mechanical Features: new Weil McLain cast-iron sectional boiler, West and Columbus Avenue, near Broadway’s bustling MPC Platinum series heating control panel, and dual Lochinvar retail corridor. 100-gallon hot water storage tanks. • Amenities: modern lobby, community space, on-site laundry • Family Friendly Neighborhood: excellent Upper West Side school and balconies. There is a concrete rear yard which has the districts, playgrounds, parks, restaurants, day-care, museums, potential to be converted into a garden community space. and shopping. There is also a live-in super and part time security guard from 5pm to midnight. • Near Mass Transit: short walk to either the 86th Street or 96th Street Subway [C,B] along Central Park West. • 40% of the units are Free Market • Upside Potential: significantly below-market rents with tremendous upside upon rollover. Current average rents are below $30 PSF and market rents are north of $65 PSF.

ASKING PRICE: $33,000,000 ($673 PSF)

-4- -5- -5- -6- PROPERTY OVERVIEW

"EXCELLENT OPPORTUNITY FOR FUTURE CONDOMINIUM CONVERSION JUST STEPS FROM CENTRAL PARK"

ADDRESS 5 WEST 91ST STREET

Neighborhood Upper West Side

Block / Lot 1205 / 22

Year Built 1972

Lot & Built Size Lot 148.08’ x 100.67’ & Built 148.08’ x 55’

Gross Building Area 49,00± SF

Stories 6-Story Elevator Building (D1)

Property Layout 48 Units: (15) one-bed (27) two-bed & (6) three bed one-bed 650 - 700 SF, two-bed 950 - 1,000 SF, Apartment SF Estimates three bed 1,150 - 1,200 SF Zoning R7-2 / R10A

FAR (built / allowed) 3.29 / 3.44

Year Built Circa 1972

Assessed Value (Tax Class 2) $3,504,517

Real Estate Taxes (2019 / 2020) $441,989

Price $33,000,000

Price / SF $673 PSF

Price / Unit $687,500

-7- -8- PROPERTY OVERVIEW

-9- FINANCIAL OVERVIEW

INCOME & EXPENSES REVENUE IN-PLACE Residential Income $1,428,000 Laundry Income $10,200 TOTAL GROSS INCOME $1,438,200

EXPENSES Real Estate Taxes $442,000 Water & Sewer $49,000 Payroll, Taxes & Benefits1 $91,520 Management Fee (3%) $43,100 Fuel (Gas) $35,000 Insurance $21,000 Utilities2 $18,500 Elevator Service $6,000 Cable3 $29,000 Repairs, Maintenance & Misc. $40,000 TOTAL EXPENSES $775,120

NET OPERATING INCOME $663,080

1. Payroll, Taxes, and Benefits is comprised of one super and two security guards. The super earns $640 per week and each security guard earns $560 per week ($640 + $560 + $560 = $1,760 per week). 2. There is one master electric meter and tenants are sub-metered. The landlord uses Quadlogic, a third party billing vendor, to bill back the tenants their share of the electric bill. For 2018, the total electric bill was approximately $50,000, of which 30% can be attributed to common electric ($15,000) and $3,500 for Quadlogic’s processing fees. 3. The landlord pays Spectrum +/- $29,000 per year to enable tenants to get cable in the building.

-10- UNIT MIX SUMMARY % UPSIDE # ROOMS UNIT TYPE # OF UNITS* % OF TOTAL AVERAGE MONTHLY RENT MARKET RENT POTENTIAL 3 1 - BR 15 31% $1,998 $3,500 75%

4 2 - BR 27 56% $2,638 $4,900 86%

5 3 - BR 6 13% $2,972 $5,800 95%

TOTAL / AVG. 48 100% 84%

FREE MARKET UNIT BREAKDOWN % UPSIDE # ROOMS UNIT TYPE # OF UNITS % OF TOTAL AVG. MONTHLY RENT MARKET RENT POTENTIAL 3 1 - BR 6 32% $3,341 $3,500 5%

4 2 - BR 11 58% $4,530 $4,900 8%

5 3 - BR 2 11% $5,400 $5,800 7%

TOTAL / AVG. 19 100% 7%

RENT STABILIZED UNIT BREAKDOWN % UPSIDE # ROOMS UNIT TYPE # OF UNITS % OF TOTAL AVG. MONTHLY RENT MARKET RENT POTENTIAL 3 1 - BR 9 32% $1,102 $3,500 218%

4 2 - BR 15 54% $1,426 $4,900 244%

5 3 - BR 4 14% $1,759 $5,800 230%

TOTAL / AVG. 28 100% 233%

Note: Projected residential income is using monthly market rents at $3,500 for a one bedroom, $4,900 for a two bedroom, and $5,800 for a three bedroom.

-11- FINANCIAL OVERVIEW

RESIDENTIAL RENT ROLL APT # TENANT NAME RENT/MONTH LXP ROOMS STATUS 1A Tenant 1 $4,900.00 MTM 4 FM 1B Tenant 2 $5,375.00 04/30/19 5 FM 1C Tenant 3 $3,195.00 11/30/19 3 FM 1D Tenant 4 $3,250.00 07/31/20 3 FM 1E Tenant 5 $3,250.00 07/31/20 3 FM 1F Tenant 6 $1,140.75 11/30/19 3 RS 1G Tenant 7 $0.00 Super 4 EX. 1H Tenant 8 $1,103.23 10/31/19 3 RS 2A Tenant 9 $3,850.00 03/31/20 4 FM 2B Tenant 10 $1,431.98 02/28/21 5 RS 2C Tenant 11 $3,500.00 Vacant Projected 3 FM 2D Tenant 12 $4,250.00 09/30/19 4 FM 2E Tenant 13 $4,600.00 05/31/20 4 FM 2F Tenant 14 $3,350.00 02/28/21 3 FM 2G Tenant 15 $1,536.89 10/31/19 4 RS 2H Tenant 16 $1,552.14 10/31/20 4 RS 3A Tenant 17 $1,502.93 10/31/19 4 RS 3B Tenant 18 $1,801.66 10/31/19 5 RS 3C Tenant 19 $1,122.67 10/31/19 3 RS 3D Tenant 20 $1,516.67 10/31/19 4 RS 3E Tenant 21 $4,445.00 05/31/20 4 FM 3F Tenant 22 $1,020.96 10/31/19 3 RS 3G Tenant 23 $1,561.75 05/31/20 4 RS 3H Tenant 24 $1,417.38 05/31/20 4 RS 4A Tenant 25 $4,700.00 06/30/21 4 FM

-12- RESIDENTIAL RENT ROLL APT # TENANT NAME RENT/MONTH LXP ROOMS STATUS 4B Tenant 26 $5,425.00 09/30/19 5 FM 4C Tenant 27 $1,071.28 01/31/20 3 RS 4D Tenant 28 $4,280.00 07/31/19 4 FM 4E Tenant 29 $4,665.00 04/30/20 4 FM 4F Tenant 30 $1,174.66 05/31/21 3 RS 4G Tenant 31 $4,745.00 08/31/20 4 FM 4H Tenant 32 $1,519.68 10/31/19 4 RS 5A Tenant 33 $4,900.00 Vacant Projected 4 FM 5B Tenant 34 $1,542.93 02/28/21 5 RS 5C Tenant 35 $3,500.00 07/31/19 3 FM 5D Tenant 36 $1,336.41 04/30/20 4 RS 5E Tenant 37 $1,137.82 01/31/21 4 RS 5F Tenant 38 $992.92 10/31/19 3 RS 5G Tenant 39 $1,354.10 10/31/20 4 RS 5H Tenant 40 $4,500.00 09/30/19 4 FM 6A Tenant 41 $1,380.65 04/30/20 4 RS 6B Tenant 42 $2,257.80 11/30/19 5 RS 6C Tenant 43 $1,166.25 Vacant Projected* 3 RS 6D Tenant 44 $1,533.06 10/31/19 4 RS 6E Tenant 45 $1,551.40 10/31/19 4 RS 6F Tenant 46 $1,124.82 10/31/19 3 RS 6G Tenant 47 $1,177.86 08/31/19 4 RS 6H Tenant 48 $1,310.50 10/31/19 4 RS RESIDENTIAL MONTHLY TOTAL $119,000.00 RESIDENTIAL ANNUAL TOTAL $1,428,000.00

*Tenant vacating; last legal rent $1,149.02. Assumed 1.5% increase to $1,166.25.

-13- -14- FLOOR PLANS

-15- PROPERTY PHOTOS

-16- -17- -18- PROPERTY OVERVIEW

Large backyard presents value add opportunity to reposition as landscaped outdoor amenity space with lounges, grilling area, and swimming pool.

-19- "THE UPPER WEST SIDE IS SOMETIMES ALSO CONSIDERED BY THE REAL ESTATE INDUSTRY TO INCLUDE THE NEIGHBORHOOD OF MORNINGSIDE HEIGHTS."

The Upper West Side, sometimes abbreviated UWS, is a neighborhood in the borough of Manhattan, New York City, that lies between Central Park and the Hudson River and between West 59th Street and West 110th Street. The Upper West Side is sometimes also considered by the real estate industry to include the neighborhood of Morningside Heights.

Like the Upper East Side, the Upper West Side is an affluent, primarily residential area with many of its residents working in commercial areas of Midtown and Lower Manhattan. It has the reputation of being New York City's cultural and intellectual hub, with Columbia University and Barnard College located at the north end of the neighborhood, and the Lincoln Center for the Performing Arts located at the south end. The Upper West Side is considered to be among New York City's wealthiest neighborhoods.

Upper West Side is bounded on the south by 59th Street, Central Park to the east, and the Hudson River to the west. Its northern boundary is somewhat less obvious. Although it has historically been cited as 110th Street, which fixes the neighborhood alongside Central Park, it is now sometimes (primarily by the real estate industry) considered to be 125th Street, encompassing Morningside Heights. The area north of West 96th Street and east of Broadway is also identified as Manhattan Valley. The overlapping area west of Amsterdam Avenue to Riverside Park was once known as the Bloomingdale District.

From west to east, the avenues of the Upper West Side are Riverside Drive, West End Avenue (11th Avenue), Broadway, Amsterdam Avenue (10th Avenue), Columbus Avenue (9th Avenue), and Central Park West (8th Avenue). The 66-block stretch of Broadway forms the spine of the neighborhood and runs diagonally north/south across the other avenues at the south end of the neighborhood; above 78th Street Broadway runs north parallel to the other avenues. Broadway enters the neighborhood at its juncture with Central Park West at Columbus Circle (59th Street), crosses Columbus Avenue at Lincoln Square (65th Street), Amsterdam Avenue at Verdi Square (71st Street), and then merges with West End Avenue at Straus Park (aka Bloomingdale Square, at 107th Street).

-20- LOCATION OVERVIEW

-21- -22- LOCATION OVERVIEW

SUBWAY

Just a short walk from the property are multiple trains stations including:

th • 96 Street Station C B

th • 86 Street Station C B

th • 96 Street Station 1 2 3

th • 86 Street Station 1

st • 81 Street Station C B BY CAR

A few blocks from the Henry Hudson Parkway and close to the George Washington Bridge.

AIRPORTS

Three major airports are located within 16 miles of the Property. LaGuardia and John F. Kennedy international airports are both within the New York City borough of Queens, while Newark Liberty International Airport is situated across the Hudson River in New Jersey.

BIKE & BUS

Citi Bike docking stations on 89th & 95th and Columbus Avenue. M10, M7 and M11 bus stations provide offer a quick and convenient method of transportation.

-23- -24- LOCATION OVERVIEW

-25- AMENITIES MAP

LOCAL AMENITIES

EATERIES

1 Gennaro Italian 11 Bodega 88 Sports Bar 21 Bodrum Mediterranean 31 Blockheads Mexican 41 New Kam Lai Chinese 51 Cafe Viva Gourmet Pizza 2 Gabriela's Restaurant & Tequila Bar 12 Bella Luna Italian 22 Mido Japanese 32 Two Boots Pizza 42 Ayurveda Indian Cafe 52 Texas Rotisserie & Grill 3 Trattoria iL Gusto Wine Bar 13 Kirsh Bakery & Kitchen 23 Cibo e Vino 33 Talia's Steakhouse and Bar 43 Acqua NYC Italian 53 Westside Market 4 Daniello's Pizzeria 14 Barney Greengrass 24 Hot & Crusty Deli 34 Amsterdam Burger Co. 44 La Nueva Victoria Chinese 54 La Mirabelle 5 Hunan Park 15 88 Gourmet Deli 25 Candle Cafe West 35 Dive Bar 45 Opai Thai 55 Vive la Crepe! 6 E˜y's Cafe 16 The Mermaid Inn 26 Murray's Sturgeon Shop 36 Carmine's Italian Restaurant 46 Vino Levantino 56 Good Enough to Eat 7 Paul Saini Deli 17 Pizzeria Sirenetta 27 City Diner 37 Sweetgreen Salad Shop 47 Screme Gelato Bar 57 Awadh Indian 8 Subway 18 Mimi Japanese 28 Le Pain Quotidien 38 Little Italy Pizza 48 The Halal Guys 58 Deli Kasbah Kosher 9 Pinkberry 19 Amelie Wine Bar 29 Han Dynasty 39 Numero 28 Pizzeria Cucina 49 Famous Famiglia Pizzeria 59 Ray's Pizza 10 Manhattan Diner 20 Indian Tanpura 30 French Roast 40 Pio Pio 6 Peruvian 50 Earth Café Mediterranean 60 Perfecto Pizza

SHOPPING ATTRACTIONS

1 Whole Foods 10 Upper 90 Soccer 19 Gary Null's Whole Foods 28 Down & Quilt Shop 1 Symphony Space 2 Trader Joe's 11 New Westlane Wines 20 Barzini's Gourmet Grocery 29 Key Food Supermarkets 2 Cleopatra's Needle Jazz Club 3 Duane Reade 12 Columbus Natural Food 21 Petco Animal Supplies 30 PlantShed Cafe 3 Soldiers’ and Sailors’ Monument 4 Party City 13 Rite Aid 22 Sprint Sports 31 Aquarius Aquariums 4 Little Shop of Crafts 5 D'Agostino's 14 Little Creatures Pet Store 23 PlantShed New York Flowers 32 The After Hours Flowers 5 Ballet Hispánico 6 CVS 15 Modern Day OptX 24 The Secret Garden 33 Housing Works Thrift Shops 6 Goddard Riverside Center 7 Walgreens 16 P.C. Richard & Son 25 True Value Hardware 34 Broadway Farm 7 West Side Community Garden 8 The UPS Store 17 Sherwin-Williams Paint 26 AJO Home & Lumber Depot 35 Mike's Lumber & Hardware 8 Tarr-Coyne Wild West Playground 9 Seasons - Manhattan 18 Brooks Brothers 27 Space Market 36 Bluemercury 9 Bard Graduate Center Gallery

CAFES LODGING FITNESS

1 Hotel Alexander 1 Dunkin' Donuts 7 Co˜eeberry 13 Tasti D-Lite 1 Fhitting Room 7 Super Soccer Stars 2 The Hotel Newton 2 Birch Co˜ee 8 Filicori Zecchini Co˜ee 14 Cafe 86 2 Equinox West 92nd 8 SLT UWS 3 Days Inn by Wyndham 3 Milk Bar Upper West Side 9 Edgar's Cafe 15 Juice Generation 3 SoulCycle W92 9 Upper West Side Yoga and Wellness 4 Royal Park Hotel 4 Macaron Parlour 10 By the Way Bakery 16 Mila Cafe 4 New York Sports Clubs 10 Supreme Martial Arts West Side 5 The Belnord Hotel 5 Columbus Cafe 11 Paris Baguette 17 Sunflower Cafe 5 West End Health & Fitness 11 Elliott's Gymnastics Center 6 Central Park West Hostel 6 Starbucks 12 Chocolate Works 18 94 Corner Cafe 6 X 93 Fitness 12 Westside Pilates

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