Exclusive offering Memorandum Vacant Office Condo

110 E 40th Street, New York, NY 10016 Grand Central Vicinity / Prime Midtown East

2 110 E 40th St, New York, NY 10016

TABLE OF CONTENTS

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13-15

Executive Summary

Floor Plans

Rent Roll - Projected Income & Expenses Eighth

Amendment

Interior Photos

Points of Interest

Neighborhood Details

Nearby Transportation

Transportation Map

Certificate of Occupancy Confidentiality & Disclaimer

Ety LeeVice PresidentM: 917.680.2668 ety.lee@compass.com

3 110 E 40th St, New York, NY 10016

Block 00895-7501

Location Between Lexington & Park Avenues

Borough Manhattan

Building Size/SF 95 ft x 85 ft - 66,567 sq ft

Lot Size 95 ft x 98.75 ft - 9,481 sq ft

Year Built 1915

Year Converted 2008

Zoning C5-2.5, C5-3

FAR As Built 7.02

Max FAR 12

Description Gutted, vacant 3,062 RSF 5th floor office condo has 2 doors in a 9-story, Grand Central Vicinity/Prime Midtown East, commercial building for sale or for rent.

Remarks 2 short blocks from Grand Central Station and one Vanderbitt office building.

Real Estate Taxes 2019/2020

$33,453

Common Charges $23,952

Insurance Projected

$2,500

Projected NOI $139,120

INVESTMENT

Executive Summary As exclusive agent, Compass is pleased to offer the gutted, vacant 3,062 RSF office condo located at 110 East 40th Street for sale or lease, this property located in the very busy Grand Central Vicinity/ Prime Midtown East Manhattan. 110 East 40th Street has 9 stories and consists of 33 units. The plot is 95 ft x 98.75 ft and was built 95 ft x 85 ft. This properties impeccable location near Grand Central Station makes transportation to your desired location seamless and convenient. With a swift 2-3 minute walk, you can hop on the Metro North, 4, 5, 6, 7, B, D, F, M or S train and M1, M2, M3, M4, Q32, M42, M101, M102, M103 buses. Riders Paradise.This office condo has light, air from three sides. And this condo unit has 2 doors. This office condo is vacant, is ideal for investor and owner-user. Good for doctor's office, PR, law, accounting, real estate, venture capital, tech, media, advertising firms.

PROPERTY INFORMATION

Asking Price Reduced: Reduced Rent:

$2,850,000 with approved plans "As Is" $55 PRSF (3,062 SF)

FLOOR PLAN

4 110 E 40th St, New York, NY 10016

Approved Plans

Proposed Layout

6 exam rooms Consultation room Office Lab Pantry 2 Bathrooms Reception area (8 Patients)

FLOOR PLAN

5 110 E 40th St, New York, NY 10016

2,424 RSF

2,948 RSF 3,062 RSF

Quarter Divided Floorplate

INCOME & EXPENSES

6 110 E 40th St, New York, NY 10016

Rent Roll

RENT ROLL (PROJECTED) - Income & Expense

Tenant Rentable Square Footage

Percentage of Common Interest

Projected Monthly Rent

Projected Annual Rent Per Sq. Ft.

Vacant 3,062 3.1146% $16,586 $65

INCOME & EXPENSE

Projected Income $PRSF Monthly Income Annual Rent

Vacant - Total Rental Space $65 $16,586 $199,030

Total Base Rent Income $199,030

Operating Expenses $ PRSF Actual Rent

Real Estate Tax (2019/2020) $ 10.91 $33,453

Common Charges $7.8 $23,957

Insurance projected $2,500

Total Expense $59,910

Projected NOI $139,120

INCOME & EXPENSES

7 110 E 40th St, New York, NY 10016

Eighth Amendment

PROPERTY PHOTOS

8 110 E 40th St, New York, NY 10016

Interior Photos

Light and air from three sides

LOCATION

110 E 40th St, New York, NY 10016

Points of Interest

One Vanderbilt

In 2016, construction began what will become the tallest office building in

New York City, upon completion, which is expected by 2020.

Grand Hyatt

NYU Langone Medical Center

New York Public Library Main Branch

Grand Central Terminal

Located in the heart of Midtown, for over a century Grand Central Terminal has

served as a landmark of New York City that serves as a hub for transportation as

well as having many shops and restaurants, all of which are under the astounding artwork from the ceiling.

Manhattan’s East Side has emerged as one of the country’s premier healthcare

and life sciences corri- dors and is positioned in the heart of this dynamic area and sector of the economy. The

corridor is home to a roster of state of the art hospitals, research centers and

teaching colleges including New York

Presbyterian/Weill Cornell Medical Center, Lenox Hill Hospital Surgical Center

Memorial Sloan Kettering Cancer Center, NYU Langone Medical Center, Bellvue

Hospital, Alexandria Center for Life Sciences, Mount Sinai clinic and

Rockefeller University. As these institutions expand and new ones enter the market, commercial and residential investments

continue to benefit.

Chrysler Building

Built in 1919 first as the Commodore Hotel, now the Grand Hyatt Hotel offers

luxurious stays in premier destinations. Completely renovated in 2011, the hotel won the Corporate and Incentive Travel

magazine “Award of Excellence.”

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Established in 1911, the Main Branch of the New York Public Library serves as the home for an estimated 2.5 million volumes, and was declared a National Historic Landmark in 1965.

Located right next to Grand Central, the Chrysler Building finished completion in 1930 and has been on of New Yorks biggest tourist attractions ever since.

LOCATION

10 110 E 40th St, New York, NY 10016

Neighborhood Details

GRAND CENTRAL VICINITY: Ever since the initial upbringing of the Grand Central Vicinity as an upscale area in the early 1900’s, this neighborhood has only continued to foster a classic NYC charm

WHAT TO EXPECT: A location that fosters a young aura, filled with diversified dining options and a plethora of hip nightlife scenes. This area is an ideal place for professionals and commuters as its located conveniently by Grand Central Station. Given the lively feel of this area, it is proven to be a popular after-work destination as well as many happy hour specials attract young professionals to unwind with a drink and a fast bite after a long workday.

THE MARKET: This area is filled with class A office building and major retail hubs. There are a wide range of complexes that fall within a range of afford- able to luxury prices.

THE LIFESTYLE: This area truly has it all for someone looking to engulf in a multidimensional living experience. There are as many affordable dining areas as well as small boutique cafes, bagel shops and brunch spots that are coined neighborhood favorites. By night, a so- cial and welcoming atmosphere is fostered as local venues are filled with people indulging in the afford- able nightlife scene.

LOCATION

11 110 E 40th St, New York, NY 10016

Nearby Transportation

TRAIN SUBWAY STOP

To Times Square

Grand Central Terminal

42nd St–Bryant Park

BUS BUS STOP(S)

M1, M2, M3, M4, Q32 Madison Ave–E 41st St

5 Ave–W 41st St

M42 Lexington Ave–E 42nd St

M101, M102, M103 Lexington Ave–E 42nd St

3rd Ave–E 42nd St

LOCATION

12 110 E 40th St, New York, NY 10016

110 East 40th Street

Transportation Map

LEGAL

Certificate of Occupancy

13 110 E 40th St, New York, NY 10016

LEGAL

Certificate of Occupancy

14 110 E 40th St, New York, NY 10016

LEGAL

15 110 E 40th St, New York, NY 10016

Confidentiality Agreement This Confidential Offering Memorandum has been prepared exclusively by Urban Compass, Inc. d/b/a Compass (“Compass”) on behalf of Ownership, the (“Owners”), regarding the purchase of the commercial condos 501/502 at 110 E 40th Street, New York, NY 10016 (the “Property”). The materials and information contained in this Confidential Offering Memorandum do not purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All materials have been developed by Compass, the Owners and other sources and are subject to variation.

No representation is made by Compass or the Owners as to the accuracy or completeness of the infor- mation contained herein and nothing contained herein is or shall be relied on as a promise or representa- tion as to the future performance of the Property. Although the information contained herein is believed to be correct, Compass and the Owners and their employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information.

Further, Compass, the Owners and their employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Confidential Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. The Confi- dential Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the Owners since the date of preparation of the Offering Memoran- dum. Analysis and verification of the information contained in the Confidential Offering Memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon request to interested and qualified investors.

The Owners and Compass each expressly reserve the right, in their sole discretion, to reject any and all expressions of interest or offers regarding the Property and/or terminate discussions with any entity at any time with or without notice. The Owners shall have no legal commitment or obligation to any entity reviewing the Confidential Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owners and its legal counsel and any conditions to the Owners’ obligations thereunder have been satisfied or waived. Compass is not authorized to make any representations or agreements on behalf of the Owners.

This Confidential Offering Memorandum and its contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein called the “Contents”) are of a confidential nature. By accepting the Offering Memorandum, you agree (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, (iii) not to disclose the Confi- dential Offering Memorandum or any of its contents to any other entity (except to outside advisors re- tained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of the Owners or Compass, (iv) not to use the Confidential Offering Memorandum or any of its contents in any fashion or manner detrimental to the interest of the Owners or Compass, and (v) to return it to Compass immediately upon request of Compass or the Owners.

No inspections of the Property are permitted unless accompanied by the Owners or a representative from Compass.

Confidentiality 8 Disclaimer Commercial Condo Units 501/502