INVESTMENT HIGHLIGHTS

• Incredible Scale In Unmatched Location: Opportunity to build significant scale in NYC’s most dynamic submarket
• 85% Free Market Income: $2.65M of the total $3.125M current gross income can be attributed to free-market units
• Upside In Rents: The portfolio’s current rent roll can be improved by roughly 7-10% attributable to growth in the local rental market
• Mostly Renovated: 70% of the portfolio has been meticulously renovated, with high-end finishes, basement duplexes, etc
• Separate Utilities: 66 of 96 units have separate utilities, where tenants are responsible for their own heat and hot water
• Significant Light & Air: 11 of 15 buildings have large air shafts, providing ample light and air for proper apartment layouts
• Cohesive & Efficient: 8 of 15 buildings are within 1/3 mile of one another and all are within 2.5 miles, translating to significant efficiencies in management
• Tax Protected: All properties are tax class 2A or 2B, limiting real estate tax increases to a max of 8% per year and 30% over five years
• Transit Oriented: All properties are within 3-4 blocks of an MTA subway station, with the majority within easy access to the desirable L and M train lines