Murray Hill Corner Assemblage

507, 509 511 Third Avenue 207, 209, 211 East 34th Street, New York, NY 10016 (The “ consists of five contiguous lots totalingtotaling±123,450 buildable SF The Property has 74 08 feet of frontage on Third Avenue and 149.75 feet of frontage on East 34th Street This 5 lot assemblage is zoned C 1 9 /C 1 9 A and is located at the northeast corner of Third Avenue and East 34th Street in the Murray Hill section of Manhattan.

• Given the location of the property at the very center of Midtown’s Murray Hill Location, amongst the neighboring technology firms/start ups that serve as headquarters to many of the world’s largest corporations, 507 511 3rd Avenue 207 211 East 34th Street is in the ideal location to be developed into a Mixed Use Residential Condo Development to cater to the myriad executives and tourists that make this stretch their primary destination for business and leisure
• 507 511 3 rd Avenue 207 211 East 34 th Street represents a rare opportunity to acquire a previously assembled development site located on the northeast corner of 3 rd Avenue and East 34 th Street in the highly desirable Murray Hill neighborhood of Manhattan The site features 75 feet of frontage on 3rd Avenue and an additional 150 feet on East 34 th Street
• The assemblage consists of five contiguous walkup buildings containing a total of 36 apartments and 10 commercial tenants As of right, the properties hold a combined 123 450450±SF of developable air rights, which can be increased to approximately 148 146146±SF by utilizing inclusionary
  housing bonuses
• All commercial tenants have leases with cancellation clauses that can be executed solely at the landlord’s discretion There are only 5 rent stabilized tenants and 1 rent controlled tenant remaining, the rest of the apartments are vacant