Exclusive Offering Memorandum

Real estate investment services1737 Lexington AvenueEast Harlem, New YorkWalk-Up Apartment Building

Contacts

Steven ZimmermanInvestment Sales Division Directorszimmerman@easternconsolidated.com646.658.7349

Gary MeeseInvestment Sales DivisionSenior Director, Financial Services gmeese@easternconsolidated.com 646.658.7351

Eastern ConsolidatedReal Estate Investment Services 355 Lexington AvenueNew York, NY 10017 www.easternconsolidated.com

Executive Summary 4

Financial Information 6

Transportation Map 7

Confidentiality & Disclaimer 8

1737 LEXINGTON AVENUE

1737 Lexington Avenue 3Executive Summary

Real estate investment services

Executive Summary

As exclusive agent to owner, Eastern Consolidated is pleased to offer for sale 1737 Lexington Avenue (the “Property”), a ±4,400 square foot 5-story walk-up apartment building. The Property is located on the east side of Lexington Avenue between E. 108th and E. 109th Street in the East Harlem neighborhood of Upper Manhattan. The Property is situated on a ±16’ x ±65’ lot and is approximately 18’ from the southeast corner of E. 108th Street and two blocks from the 110th Street 6 train station. The building contains ten 1-bedroom apartments, all of which are rent stabilized except for one unit that is temporarily exempt and can be delivered vacant at the time of sale.

The offering presents investors with the opportunity to acquire a fully leased apartment building with in-place income and inherent future upside potential associated with the 9 rent stabilized units and immediate upside potential in the temporarily exempt unit that can be delivered vacant.

Aerial

1737 LEXINGTON AVENUE

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4 1737 Lexington Avenue Executive Summary

EASTERN CONSOLIDATEDwww.easternconsol idated.com

Address 1737 Lexington Avenue, New York, NY 10029

Location East side of Lexington Avenue between E. 108th and E. 109th Streets in East Harlem

Block & Lot 1636/23

Lot Dimensions ±16’ x ±65’ Lot Area ±1,083 square feet

Building Dimensions ±16’ x ±55’ Building Size ±4,400 square feet

Building Class Walk-up Apartment – Over Six Families with Stores (C7)

Zoning C1-5 / R7-2

Real Estate Taxes (2016-2017) $4,380

Gross Income $141,660

Expenses $40,504

Net Operating Income $101,156

Asking Price $2,300,000

Corner of Lexington Avenue & East 108th Street

1737 Lexington Avenue 5Financial Information

Real estate investment services

Financial Information

Income In-place

Residential Income $141,660

Total Income $141,660

Estimated Expenses

RE Taxes (2016-2017) $4,380

Common Area Electric $1,000

Gas $9,000

Repairs & Maintenance $5,000

Water & Sewer $10,124

Insurance $5,000

Superintendent $6,000

Total Expenses $40,504

Net Operating Income $101,156

Income & Expenses

Unit Unit Description Status Monthly Rent Monthly Rent Annual Rent Lease Expiration

1 1 BR / 1 BA RS $1,341 $1,130 $13,560 1/31/2017

2 1 BR / 1 BA RS $1,120 $13,440 12/31/2017

3 1 BR / 1 BA RS $1,480 $1,150 $13,800 9/30/2016

4 1 BR / 1 BA RS $1,200 $14,400 2/28/2018

5 1 BR / 1 BA RS $1,250 $15,000 9/30/2016

6 1 BR / 1 BA RS $1,228 $1,202 $14,424 7/31/2017

7 1 BR / 1 BA RS $1,075 $12,900 2/28/2017

8 1 BR / 1 BA RS $1,239 $14,868 11/15/2017

9 1 BR / 1 BA RS $1,287 $1,089 $13,068 12/31/2016

10 1 BR / 1 BA TE $1,350 $16,200 n/a

Total/Blended $12,570 $141,660

Residential Rent Roll

6 1737 Lexington Avenue Transportation Map

EASTERN CONSOLIDATEDwww.easternconsol idated.com

Transportation Map

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1737 LEXINGTON AVENUE

1737 Lexington Avenue 7Confidentiality & Disclaimer

Real estate investment services

Confidentiality & DisclaimerThis Confidential Offering Memorandum has been prepared exclusively by Eastern Consolidated (“Eastern Consolidated”) on behalf of Ownership, the (“Owners”), regarding the purchase of the property described herein at 1737 Lexington Avenue, New York, New York (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 Eastern Consolidated, the Owners and other sources and are subject to variation.

No representation is made by Eastern Consolidated or the Owners as to the accuracy or completeness of the information contained herein and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Eastern Consolidated 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, Eastern Consolidated, 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 Confidential 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 Memorandum. 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 Eastern Consolidated 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. Eastern Consolidated 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 Confidential Offering Memorandum or any of its contents to any other entity (except to outside advisors retained 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 Eastern Consolidated, (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 Eastern Consolidated, and (v) to return it to Eastern Consolidated immediately upon request of Eastern Consolidated or the Owners.

If you have no further interest in the Property, please return the Confidential Offering Memorandum forthwith.

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

Real estate investment services

INVESTMENT SALESRETAIL LEASINGCAPITAL ADVISORY

www.easternconsolidated.comF. 212.499.7700O. 212.499.7718

355 Lexington Avenue NY, NY 10017