91-95 Seventh Avenue SouthNew York, New York 10014

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TABLE OF CONTENTS01 Executive Summary

02 Property Overview Property Description The Offering Investment Highlights Property Photos

03 Neighborhood Overview Location Specifics Neighborhood Development

04 Pricing & Financial Overview Financial Analysis Rent Roll Income & Expenses

EXCLUSIVE AGENT:

John J. StewartAssociate Real Estate Broker

(212) 430-5152John.Stewart@MarcusMillichap.com

EXECUTIVE SUMMARYJohn J. Stewart & Associates of Marcus & Millichap is pleased to present the exclusive offering of 91-95 Seventh Avenue South

Two-Tenant Commercial Building

Price - $13,950,000

Located in Heart of West Village

Stable, Core Investment

Adjacent to Major Transportation

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PROPERTY OVERVIEW

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PROPERTY DESCRIPTION

CERTIFICATE OF OCCUPANCYTAX LOT MAP

91-95 Seventh Avenue SouthNew York, NY 10014

591-15C4-5

6.51.6

6,172

Property Address Block & Lot Zoning Maximum Allowed FAR FAR as Built Remaining “Air Rights”

21900 (est.)

5,35425.00 ft x 55.00 ft (irregular)

67.83 ft x 89.00 ftFee Simple

Number of Commercial UnitsYear Built Gross Square Feet Building SizeLot Size Type of Ownership

THE OFFERING SITE DESCRIPTION

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THE OFFERINGMarcus & Millichap is the exclusive sales broker for 91-95 Seventh Avenue South (the “Property”), a two-tenant commercial building on Seventh Avenue South between Barrow and Grove Streets in the West Village.

The Property has 67 feet of frontage on Seventh Avenue South, 25 feet of frontage on Barrow Street and is fully built on an irregular 68-foot by 89-foot C4-5-zoned lot. The Property has approximately 6,100 square feet of remaining developable rights and is part of the Greenwich Village Historic District.

The Property has two commercial tenants: Taqueria Mez-A, a Mexican restaurant, and Jekyll & Hyde, a theme restaurant.

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INVESTMENT HIGHLIGHTSThe Opportunity91-95 Seventh Avenue South is a two-tenant commercial property located in the epicenter of one of the most vibrant neighborhoods in New York City with one of the highest average household incomes in the country.

The LocationLocated on Seventh Avenue South between Grove and Barrow Streets, the Property is exposed to a near-constant flow of daily and nightly foot traffic due to its immediate proximity to the Christopher Street 1-Train Station, the only subway station west of Seventh Avenue servicing the entire West Village (3,300,000 riders in 2018, a 3.7% increase over 2017). The Property is surrounded by national tenants including Chase, Starbucks, Bank of America and CVS as well as many historic landmarks, critically acclaimed restaurants and popular nightlife thatattract a regular stream of locals and tourists to the immediate area.

Stable, Core InvestmentThe Property offers an investor the exceptional opportunity to enter a core West Village retail corridor on a transforming block that has typically seen long-term ownership, older retail concepts and little turnover. Over the past eighteen months, there has been ownership turnover of the properties on either side of the Property and the beginning of a wave of new retail tenants that are transforming the immediate area. In general, the West Village is constantly in high demand by new residents for its historic appeal and extensive high-end retail offerings which has resulted in low residential vacancy, above-average commercial rents and steady rent growth over the last decade.

Located Near Major TransitThe property is extremely well-served by transportation. It is adjacent to the West Village’s only subway station at Christopher Street (1 line), two blocks west of the major West 4th Street subway hub (A, B, C, D, E, F, M lines; over 13M riders in 2018) and two blocks east of the Christopher Street PATH train station (1.5M riders in 2019). These three stations supply a constant stream of locals and tourists to the Property’s immediate area as well as quick transport to Midtown, the Upper East Side, Upper West Side, Lower Manhattan, the FinancialDistrict and Brooklyn.

Two-Tenant Commercial

Price - $13,950,000Located in Heart of West Village

Stable, Core Investment

Adjacent to Major Transportation

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PROPERTY PHOTOS

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PROPERTY PHOTOS

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PROPERTY PHOTOS

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LOCATION

LOCATION

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NEIGHBORHOOD: WEST VILLAGE

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1. Pier 57Developer: RXR Realty and YoungWoo & Assocs.Use: Mixed-UseDescription: Approx. 428,000 SF | Google - Primary Office TenantStatus: Under Construction (Delivery in 2019)

2. 540 Hudson StreetDeveloper: William Gottlieb Real EstateUse: Mixed-UseDescription: 5,600 SF of Retail & 26 ApartmentsStatus: Under Construction

3. The Shepard275 West 10th StreetDeveloper: Naftali Group & Starwood CapitalUse: Condominium Description: 38 UnitsStatus: Completed in 2016

4. 160 Leroy StreetDeveloper: Ian Schrager, Vector Group & OthersUse: CondominiumDescription: 49 ApartmentsStatus: Completed in 2017

5. St. John’s Terminal550 Washington StreetDeveloper: Oxford Properties & Related CompaniesUse: Mixed-UseDescription: 2,000,000 SF | 1,586 Apartments, Offices, Hotel & Retail SpaceStatus: Pre-Construction (Delivery in 2022)

6. The Greenwich Lane155 West 11th StreetDeveloper: The Rudin Family & OthersUse: CondominiumDescription: Multi-Building Residential ComplexStatus: Completed in 2015

7. 175 West 10th StreetDeveloper: Greystone Development & Others Use: CondominiumDescription: 5 Apartments Status: Completed in 2016

8. 116 University PlaceDeveloper: Sagamore Capital & OthersUse: Condominium Description: 5 ApartmentsStatus: Completed in 2018

9. 21 East 12th StreetDeveloper: William Macklowe & Goldman SachsUse: CondominiumDescription: 52 ApartmentsStatus: Completed in 2018

10. Diller IslandDeveloper: Barry Diller & Diane von FurstenbergUse: Public SpaceDescription: Park & Performing Arts CenterStatus: Under Construction (Delivery in 2021)

11. 150 CharlesDeveloper: The Witkoff GroupUse: CondominiumDescription: 91 UnitsStatus: Completed in 2013

12. 90 Morton90 Morton StreetDeveloper: Brack Capital Use: CondominiumDescription: 35 UnitsStatus: Completed in 2018

NEIGHBORHOOD DEVELOPMENT

Pier 57

NEIGHBORHOOD DEVELOPMENT

The Shepard 160 Leroy Street

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540 Hudson Street

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PRICING & FINANCIAL OVERVIEW

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PRICING & FINANCIAL ANALYSISPROPERTY

Price $13,950,000Price/SF $2,596Number of Units 2Gross Square Feet 5,354Year Built 1900Lot Size 68 x 89 (irr.)

VITAL DATA

CAP Rate - CurrentNet Operating Income - CurrentCAP Rate - Pro FormaNet Operating Income - Pro Forma

3.33%$464,640

3.47%$484,478

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SF (est.)

Lease Start Lease End Option Annual

Increases Notes Current Rent/SF Current Rent Pro Forma

Rent/SF Pro Forma Rent

2,640 9/1/2016 8/31/2026 None 3.0% Pays 85% of RE tax increase after base yr (2015/16) 166.39$ 36,606.35$ 171.38$ 37,704.50$

1,960 9/1/2016 8/31/2026 None - - - - - -

710 2/13/09 10/31/2021 None 3.5% Pays 25% of RE tax increase after base yr (2008/09) 222.08$ 13,139.73$ 229.85$ 13,599.62$

Total Monthly Commercial Rent 49,746.08$ 51,304.12$ 596,952.96$ 615,649.44$

Jekyll & Hyde (2nd and 3rd Floors)

Total Annual Commercial Rent

Tenant

Jekyll & Hyde (Ground & Mezzanine)

Taqueria Mez-A

RENT ROLL

PRICING & FINANCIAL ANALYSIS

Initial Lease Term 10 YearsCommencement Date 9/1/16Expiration Date 8/31/26Increases 3% AnnualyRE Taxes Tenant pays 85% of increases above 15/16 base year ($125,932)Insurance Tenant paysUtilities Tenant paysPermittable Use Full service restaurant & barOption NoneDemo Clause None

Initial Lease Term 12 Years and 8 MonthsCommencement Date 2/13/09Expiration Date 10/31/21Increases 3.5% AnnuallyRE Taxes Tenant pays 25% of increases above 08/09 base year ($77,150)Insurance Tenant paysUtilities Tenant paysPermittable Use Full service restaurant & barOption NoneDemo Clause None

Jekyll & Hyde

Taqueria Mez-A

LEASE SUMMARY

Income Current Pro FormaGross Potential Rent $596,953 $615,649RE Tax Reimbursements $81,546 $102,332Water & Sewer Reimbursements $31,127 $32,060Effective Gross Income $709,625 $750,041

Expenses (1)Real Estate Taxes (2) $188,977 $207,875Water & Sewer $31,127 $32,060Management Expense $24,882 $25,628Total Expenses $244,985 $265,563 Expenses per Unit $122,493 $132,782 Expenses per SF $45.76 $49.60 % of EGI 34.52% 35.41%

Net Operating Income $464,640 $484,478

(1): Pro forma expenses are 103% of the current expenses unless otherwise indicated(2): Pro forma Real Estate Taxes is 110% of the current Real Estate tax

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Loan Program 5 Year Fixed – Current

5 Year Fixed – Pro Forma

Loan Amount Min $6,400,000 $6,600,000 Loan Amount Max $6,500,000 $6,700,000 Interest Rate Min 3.625% 3.625%Interest Rate Max 3.875% 3.875%Fixed Term 5 Years 5 YearsAmortization (Years) 30 30

PRICING & FINANCIAL ANALYSISINCOME & EXPENSES

For a financing quote, please contact:

Stephen FilippoMarcus & Millichap Capital Corporation(212) 430-5288

Income Current Pro FormaGross Potential Rent $596,953 $615,649RE Tax Reimbursements $81,546 $102,332Water & Sewer Reimbursements $31,127 $32,060Effective Gross Income $709,625 $750,041

Expenses (1)Real Estate Taxes (2) $188,977 $207,875Water & Sewer $31,127 $32,060Management Expense $24,882 $25,628Total Expenses $244,985 $265,563 Expenses per Unit $122,493 $132,782 Expenses per SF $45.76 $49.60 % of EGI 34.52% 35.41%

Net Operating Income $464,640 $484,478

(1): Pro forma expenses are 103% of the current expenses unless otherwise indicated(2): Pro forma Real Estate Taxes is 110% of the current Real Estate tax

FINANCING

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The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT FOR MORE DETAILS.

CONFIDENTIALITY & DISCLAIMER

EXCLUSIVE AGENTS:

John J. StewartAssociate Real Estate Broker

(212) 430-5152John.Stewart@MarcusMillichap.com

Joshua BluesteinLicensed Real Estate Salesperson

(646) 805-1466Joshua.Bluestein@MarcusMillichap.com

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