Offering Memorandum 323 EAST 58TH STREET NEW YORK, NY DEVELOPMENT OPPORTUNITY 845 Third Avenue, Fourth Floor | New York, NY 10022 | 212.776.1200 | leeassociatesnyc.com PROPERTY SUMMARY Lee & Associates NYC is pleased to present the building plans and pricing feasibility for the residential development site at 323 E 58th Street in New York, NY (the “Site”). The Site consists of a 3,100 SF lot, currently occupied by a vacant four-story mixed-use building spanning 5,268 SF. The Site has a residential FAR of 4.0, and can be built to a maximum ZFA of 12,400 SF. However, due to the elevations of the site there are plans prepared for a building of approximately 16,600 SF including below space. The Site is steps away from a number of amenities in Midtown and the Upper East Side including restaurants, bars, and an abundance of retail along Lexington Ave. Highlights • Five minute walk to the N, R, W, E, and M trains • One block away from Whole Foods • The site will be sold with full building plans • Development costs and timeline will be reduced by executing ownership’s plans to repurpose the existing building’s façade and structure 2 SITE SUMMARY Address 323 E 58th Street Location Sutton Place Neighborhood of Manhattan Block / Lot 01351 / 0010 Lot Size 3,100 SF Zoning R8B Max FAR Residential 4.0 Max ZFA 12,400 SF Tax Class 1 20/21 Real Estate Taxes $82,479 ASKING PRICE $5,800,000 323 EAST 58TH STREET ST JOHNS PLACE EAST 58TH STREET 323 EAST 58TH STREET | NEW YORK, NY 3 323 EAST 58TH STREET MASSING & STACKING MASSING & STACKING SUMMARY Floor Slab-to-Slab (Ft) Gross SF Vertical Lobby/Amenities NSF RSF Basement 10.0 1,458 175 0 1,283 1,283 1st 10.0 2,354 282 0 2,072 2,072 2nd 10.0 2,354 282 0 2,072 2,072 3rd 10.0 2,354 282 0 2,072 2,072 4th 10.0 2,354 282 0 2,072 2,072 5th 10.0 1,988 239 0 1,749 1,749 Sub-Total 60 12,862 1,543 0 11,319 11,319 Sub-Cellar 10.0 687 82 0 605 605 Total 60 13,549 1,543 0 11,319 11,319 Full Lot SF Total Lot SF 3,100 FAR 4.0 Total Buildable (Above Grade) 12,862 Total Proposed Gross SF 13,549 4 BUILDING PLANS 323 EAST 58TH STREET | NEW YORK, NY 5 BUILDING PLANS CONT’D 6 BUILDING PLANS CONT’D 323 EAST 58TH STREET | NEW YORK, NY 7 323 EAST 58TH STREET | COMPARABLES 1 BEDROOM CONDO COMPS Address Unit SF Sale Price $/SF Date Sold 300 E 62nd Street 2903 723 $915,000 $1,266 Sep-20 145 E 48th Street 18E 707 $789,000 $1,116 Aug-20 865 United Nations Plaza 8C 947 $800,000 $845 Jul-20 301 E 48th Street 9C 950 $650,000 $684 Jun-20 245 E 50th Street 2A 723 $800,000 $1,107 Jun-20 150 E 49th Street 1D 800 $550,000 $688 Jun-20 200 E 58th Street 15B 750 $870,000 $1,160 May-20 MIN 707 $684 MAX 950 $1,266 AVERAGE 800 $981 2 BEDROOM CONDO COMPS Address Unit # SF Beds Baths Days on Market Price $ PSF Notes 220 East 54th Street 10K 2 Bed 1 Bath 6-Jul $850,000 Elevator, Doorman 319 East 50th Street 8DE 1,200 2 Bed 2 Bath 2-Jul $1,049,000 $874 Elevator, Doorman 135 East 54th Street 15K 1,198 2 Bed 2 Bath 22-Jun $1,425,000 $1,189 Elevator, Doorman 319 East 50th Street 10K 2 Bed 2 Bath 11-Jun $943,965 Elevator, Doorman 230 East 50th Street 3B 1,150 2 Bed 1.5 Bath 1-May $1,175,000 $1,022 Elevator, Doorman MIN 1,150 $850,000 $874 MAX 1,200 $1,425,000 $1,189 AVERAGE 1,183 $1,088,593 $1,028 8 For more information, please contact one of the following individuals: MARKET ADVISORS CHRIS VARJAN VICKRAM JAMBU GEORGE STEFFANI JONATHAN BRAUN STEPHEN RAMKELAWAN Senior Managing Director Senior Managing Director Director Director Director 212.776.1272 212.776.1255 212.776.1207 212.776.4341 646.723.4716 [email protected] [email protected] [email protected] [email protected] [email protected].