Luxury2

Residences
AT UPPER WEST SIDE



INVESTMENT SUMMARY

A TROPHY ASSET

We are pleased to present the offering of a 127-unit luxury apartment
tower in Lower Manhattan. The building is comprised of one-,
two- or three-bedroom luxury apartments with full amenities.

Open layouts, high ceilings and slender columns combine to
give a feeling of elegance and spaciousness. Full-length windows
allow residents to enjoy unbeatable views, and add to the

peaceful, exclusive and sophisticated atmosphere.
An entrance foyer designed as a retreat from the busy
activity of Manhattan opens to a graceful reception area,
creating a vibrant social space to greet and mingle. The
lobby also houses a bar lounge on the ground level, an
all-day dining restaurant on level 1, and a pool bar
on level 6.

STYLE AND ELEGANCE
REST IN COMFORT

It all begins somewhere among these 12 stories. A luxury apartment that
speaks to you. Draws you to it. Contemporary living spaces of cool,
natural openness facing the water. Expansive windows that look out

and remind you of your wondrous surroundings. In a home unlike
any other in the entire city. And more marvelous beyond anything
yet attempted.

Every detail has been thoughtfully included. For maximum
luxury and enjoyment. Only steps from downtown and the
riverfront. In the towers and outdoor spaces, entertainment

for the eyes, mind, body and soul. Stimuli to allure your
senses. To make every day at home, every sunset,
effortless and full of pleasure.







THE LOCATION UPPER WEST SIDE
UPPER WEST SIDE
THE RESIDENCES
The Upper West Side is a neighborhood in the borough
of Manhattan, New York City, that lies between Central
Park and the Hudson River andbetween West 59th Street
and West 110th Street. Like the Upper East Side, the Upper
West Side is an affluent, primarily residential area with many
of its residents working in commercial areas of Midtown and
Lower Manhattan.
It has the reputation of being New York City’s cultural and
intellectual hub, with Columbia University and Barnard College
located just past the north end of the neighborhood, and the
Lincoln Center for the Performing Arts located at the south end.
The Upper West Side is considered to be among New York City’s
wealthiest neighborhoods.

BRONX
HARLEM

UPPER EAST SIDE

CENTRAL PARK

WHY NYC? POPULATION

THE BIG APPLE 8.6M EDUCATION

ATTRACTIONS Population in NYC 105

1,700 35.9 #1 Higher Learning Institutions
Median Age
Parks and Recreation Facilities Tech Workforce 594K

200+ 2.3M College Students in NYC
Museums
People with a Bachelor’s
Degree or Higher

ECONOMY

INFRASTRUCTURE $1.3T
GDP in NYC Metro
LARGEST
Public Transit System in US $83K MOST TOURISM
THREE
Major Airports Median Household Venture Capital in US 63.8M
Income Visitors in 2017
125K
52 Hotel Rooms

Fortune 500
Companies

THE DETAILS

Interior Finishes

- Elegant contemporary design details
- Luxurious marble floors
- Expansive floor-to-ceiling windows
- Up to 12’ ceiling heights

Kitchen Finishes

- Incredible Italian designs with European appliances
- Latest integrated gas with oven, refrigerator and dishwasher
- Modern quartz stone countertops
- Rich wood veneer and glass cabinets

Bathroom Finishes

- Bathtub with an expansive marble deck
- Kohler fittings and designer accessories
- Unique selection of stones and finishes
- Large walk-in showers, with ceiling-mounted rain showers





BUILDING SPECS

Building Size: 117,000 SF
Units: 127
Stories: 12
Lobby: Glass doors, stone clad and wood panel walls
Elevators: 4 elevators with 3,500 pound capacity
Electrical System: 480 volt, 3-phase, 4-wire network service with two 4,000 amp switchboards
Security: Security team on site and on call 24/7 with video monitoring
Ceiling Heights: 11’ ceilings in apartments, 20’ ceilings in lobby
Roof: Ballasted 215-mil thick, reinforced hot rubberized asphalt membrane in IRMA configuration
Backup Power: Diesel engine-driven standby power 650kW, three (3) phase generator with automatic controls
Telecom: There will be multiple four-inch (4”) conduits for incoming service conductors by local providers
HVAC System: Chilled water central plant system with one central variable air volume air handling unit on each floor
Loading Docks: There will be two loading docks on the ground level accessible from the rear of the building
Exterior Glass: A floor-to-ceiling glass curtain-wall window glazing system covers the majority of the building façade
Plumbing : Connection points for domestic cold water, waste and plumbing vent will be provided at two (2) points
Amenities: Lobby, swimming pool, fitness center, rooftop deck, laundry room, and lounge area
LEED Rating: LEED-Silver
ADA: The building will be fully ADA compliant with universal access

LUXURY FINISHES
IN EVERY APARTMENT

The units are framed by large panoramic floor-to-ceiling windows
that open up to views of Downtown Manhattan and the Hudson
River. These residences feature 12 foot ceiling heights, three-sided

open balconies and terraces, as well as extraordinary glass pods
that extend out of the building to offer the exclusivity of a
private viewing deck floating above the city.

All residences come equipped with a contemporary
lighting package, including recessed lighting, dimmers,
and lighting control. Paint selections included and

come recommended to complement flooring
selections.

BALCONIES
WITH A VIEW

UNIT 1

ONE BEDROOM/1 BATHROOM

RESIDENCE: 585 SF
BALCONY: 130 SF
TOTAL: 715 SF

UNIT 2

ONE BEDROOM/1 BATHROOM

RESIDENCE: 650 SF
BALCONY: 130 SF
TOTAL: 780 SF

UNIT 3

TWO BEDROOM/1.5 BATHROOM

RESIDENCE: 950 SF
BALCONY: 130 SF
TOTAL: 1,080 SF

UNIT 4

TWO BEDROOM/2 BATHROOM

RESIDENCE: 1,000 SF
BALCONY: 130 SF
TOTAL: 1,130 SF

FINANCIALS

A TURNKEY CASH-FLOWING ASSET

OFFERING DETAILS The Residences DEBT FINANCING $56,000,000
101 West 42nd Street Loan Amount 80%
Property Loan to Sales Price Ratio 5.50%
Address 117,000 SF Interest Rate
Building Size 0.27 Acres Term 10 Years
Lot Size Amortization Period 25 Years, 2 Years I/O
Units 127 Maturity
Price $70,000,000 Outstanding Loan Balance (Yr 10) October, 2028
Price Per SF Annual Debt Service Payment $5,600,000
Price Per Unit $598.29 Year 1 Debt Service Coverage Ratio $4,762,395
Down Payment $551,181 Loan Constant P&I Only 1.66
$14,000,000 7.37%
OPERATING PARAMETERS
PROJECTED RETURNS $5,000,000 Current Operating Expenses $1,000,000
7.14% End of Year 1 Operating Expenses (SF/YR) $44.53
Year 1 NOI 11.47% End of Year 1 Capital Reserves (SF/YR) $0.28
Year 1 Cap Rate 18.46% Occupancy Rate 98%
10-Yr Unleveraged IRR
10-Yr Leveraged IRR $4,100,000
Cash Flow Before D/S $2,400,000
Cash Flow After D/S

OPERATING

CURRENT AND PROJECTED

OPERATING INCOME Current Year 1 Per Unit Per SF
$6,000,000 $6,200,000 $47,244 $51.28
Income ($180,000) ($190,000) ($1,417) ($1.54)
Gross Scheduled Rent ($180,000) ($190,000) ($1,417) ($1.54)
Physical Vacancy $5,820,000 $6,010,000 $45,826 $49.74
Total Vacancy Per Unit Per SF
Effective Gross Income Current Year 1 $7,874 $8.54
Expenses $1,000,000 $1,000,000 $0.43
Real Estate Taxes $394 $0.17
Insurance $50,000 $50,000 $157 $0.26
Utilities - Electric $20,000 $20,000 $236 $0.34
Utilities - Water & Sewer $30,000 $30,000 $315 $0.09
Repairs & Maintenance $40,000 $40,000 $79 $0.45
Operating Reserves $10,000 $10,000 $394 $10.26
Management Fee $50,000 $50,000 $9,449
Total Expenses $1,200,000 $1,200,000 $41.03
Expenses as % of EGI 20.61% 20.61% $36,377
Net Operating Income $4,800,000 $5,000,000

Residences
AT U P P E R WE S T S I D E
Chris Williams
Senior Managing Director
New York Office
Tel: 212-893-6416
Fax: 212-701.4185
[email protected]
Andrew Rutledge
Senior Vice President
New York Office
Tel: 212-893-6416
Fax: 212-701.4185
[email protected]