bankruptcy sale - amazon web services...floor gross sf rentable sf* ppsf monthly rent annual rent...
TRANSCRIPT
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46,365 Sq. Ft. Vacant Elevator BuildingStunning Upgrades | 75’ of Frontage
Outdoor Patio and Roof Deck
Bankruptcy SalE:55-59 chryStiE StrEEt, nyc
Sara D.Roosevelt
Park
ColumbusPark
LOWER MANHATTAN
TRIBECA
SOHO
LITTLEITALY
CHINATOWN
LOWEREAST SIDE
TWOBRIDGES
JERSEY CITY
City Hall
WoolworthBuilding
New Yorkby Gehry
New York CountySupreme Court
One WorldTrade Center
BrookfieldPlace
Marketplace28
B
Grand StD
4
Spring St5 6 6
4
Canal St5 6 6
1
Canal St2 3
A
Canal StC E
R
Canal StW
N
Canal StQ
J
Canal StZ
32
TABLE OF CONTENTS
6
73
EXECUTIVE SUMMARY
FLOOR PLANS
EVENTS/PHOTO SHOOTS
PROPERTY PHOTOS
FINANCIAL OVERVIEW
19
47
6 ExECuTivE SummAry
9 PrOPErTy OvErviEw
11 FiNANCiAL OvErviEw
19 PrOPErTy PhOTOS
47 EvENTS/PhOTO ShOOTS
61 PrOPErTy SPECiFiCS
73 FLOOr PLANS
Tax assessmenTAddress 55 Chrystie Street
City, State New york, Ny
Block 303
Lot 27
Year Built 1900
NRA 39,547
assessed $ $3,282,290assessed $/sF $87.53ToTal Taxes $348,567Taxes per sF $9.30
11
54
76
ExEcutivE Summary
rosewood realty is pleased to present the opportunity to joint venture or
purchase 55-59 Chrystie Street, a 6 story elevator office/retail building currently in
Bankruptcy.
The 46,365 square foot property, located in the up-and-coming Lower manhattan
area, is architecturally significant and boasts 75 feet of frontage. The ground floor
is comprised of two retail spaces, and the second through sixth floors consist of
office/commercial.
Just 3 minutes from the Grand Street subway station the property has stunning
vaulted ceilings, original beams, modern upgrades, and outdoor patio and roof
deck, providing sweeping views of manhattan and Brooklyn.
Built in 1900, the building underwent significant capital improvements in 2014
and 2016, modernizing while accentuating the character of the existing structure.
$1,900,000 was spent on updates to the common areas, loft, and office spaces.
55-59 Chrystie will attract a diverse office tenant roster across an array of industries,
both established and startup, such as media, tech, art, health & wellness, fashion,
and finance, thereby insulating an owner from industry specific risk. The Property,
in part or in entirety, can also be used as a luxury gallery or high end event space.
This deal presents investors the opportunity to purchase a unique mixed-use asset
with incredible upside. Due to its vacancy, it is a blank slate.
whereas the property is currently in Chapter 11 and is slated for sale, ownership is
also actively seeking joint venture proposals.
Sara D.Roosevelt
Park
ColumbusPark
LOWER MANHATTAN
TRIBECA
SOHO
LITTLEITALY
CHINATOWN
LOWEREAST SIDE
TWOBRIDGES
JERSEY CITY
City Hall
WoolworthBuilding
New Yorkby Gehry
New York CountySupreme Court
One WorldTrade Center
BrookfieldPlace
Marketplace28
B
Grand StD
4
Spring St5 6 6
4
Canal St5 6 6
1
Canal St2 3
A
Canal StC E
R
Canal StW
N
Canal StQ
J
Canal StZ
98
• 46,365squarefootofficeandretailpropertyrisingsixstories
• 75’offrontagedividedintotworetailunits
• $1.9Millionofrecentrenovations(2014and2016),whichincludeupgradestolobby,common
corridors, and loft/office spaces.
• PatioandroofdeckloungeprovidessweepingviewsofNewYorkCity
• LocatedbetweenCanal&HesterStreet,just3minutesfromtheGrandStreetsubwaystation
• Perfectforanarrayofofficetenants:media,tech,art,health&wellness,fashion,andfinance
• Inadditiontooffice&retail,thepropertycanbeusedasluxurygallery/eventspace
PROPERTY SNAPSHOT
STRUCTURAL/MECHANICAL OVERVIEW
PrOPErTy OvErviEw
PROPERTY NAME 55-59 Chrystie Street
PROPERTY TYPE Office-Retail
AddRESS 55-59 Chrystie St, New york, Ny 10002
MARkET Downtown
SUbMARkET Soho
ASSESSOR PARCEL Block 303, Lot 27
LOT Sq. FT. 7,500
LOT dIMENSIONS 75 x 100 ft
GROSS SqUARE FOOTAGE 46,365 SF
AVAILAbLE AIR RIGHTS 7,500 SF
YEAR bUILT/RENOVATEd 1900, 2014 & 2016
NUMbER OF STORIES 6-Stories, plus Basement
ZONING dISTRICTS C6-1G
OWNERSHIP Fee-Simple interest
EXTERIOR Brick masonry with stucco
HEATING Split system heat pumps and a packaged rTu
AIR-CONdITIONING Split system air conditioner and a packaged rTu
ELECTRICAL WIRING Copper
ELEVATORS One cable passenger unit
ROOF Built-up with aluminum coating and granular cap sheet
FIRE SPRINkLER 100% coverage
1312
F iNANCiAL OvErviEw
Historical stabilized
properTY pro-Forma 2014 2015 2016 2017 pro Forma
revenue:
BaseRentalRevenue(i): $1,690,322 $1,885,971 $2,133,575 $1,743,803 $2,766,179
ExpenseReimbursementRevenue: $91,920 $41,416 $65,606 $52,870 $70,000
potential Gross revenue: $1,782,242 $1,927,387 $2,199,181 $1,796,673 $2,836,179
Vacancy&CollectionLoss(ii): ($141,809)
effective Gross revenue: $1,782,242 $1,927,387 $2,199,181 $1,796,673 $2,694,370
operating expenses:
RETaxes(iii): $237,110 $268,865 $297,294 $320,494 $365,361
Utilities: $80,330 $81,547 $73,134 $65,374 $80,000
ContractServices: $8,264 $7,740 $9,014 $8,326 $7,000
Payroll&AssociatedBenefits: $23,920 $24,700 $27,825 $27,820 $25,000
RepairsandMaintenance: $12,625 $2,426 $7,371 $17,505 $10,000
Insurance: $33,225 $39,228 $45,063 $49,995 $45,000
ManagementFees(iv): $35,645 $38,548 $43,984 $35,933 $53,887
Miscellaneous: $4,310 $9,992 $5,124 $6,113 $5,000
Total operating expenses $435,429 $473,046 $508,809 $531,560 $591,249
net operating Income (noI): $1,346,813 $1,454,341 $1,690,372 $1,265,113 $2,103,121
NOI Margin %: 75.6% 75.5% 76.9% 70.4% 78.1%
Notes To Financials:(iii)ProFormaVacancy&CollectionLoss@5%ofPGR.(iii)ProFormaRETaxesassume6monthsoftaxesincurredbasedonFTY19/20Dept.OfFinanceBillingand6monthswith3%inflation(H22020).(iv)ProFormaMgmt.Fee@2%ofEGR.
*rentable SF assumes rEBNy Add on Factor.
Floor Gross sF rentable sF* ppsF monthly rent annual rent
Cellar 7,528 SF 7,461 SF $40.00 $24,871.20 $298,454.40
1st Floor 7,545 SF 6,645 SF $110.00 $60,910.58 $730,926.90
2nd Floor 7,550 SF 6,842 SF $60.00 $34,210.80 $410,529.60
3rd Floor 7,550 SF 7,223 SF $55.00 $33,104.09 $397,249.05
4th Floor 7,550 SF 7,366 SF $55.00 $33,760.38 $405,124.50
5th Floor 7,550 SF 6,887 SF $65.00 $37,306.26 $447,675.15
6th Floor 1,092 SF 1,173 SF $65.00 $6,351.64 $76,219.65
ToTal 46,365 sF 43,597 sF $63.45 $230,514.94 $2,766,179.25
FiNANCiAL OvErviEw
Tax assessmenTAddress 55 Chrystie Street
City, State New york, Ny
Block 303
Lot 27
Year Built 1900
assessed $ $3,282,290assessed $/sF $87.53ToTal Taxes $348,567Taxes per sF $9.30
Tax InFormaTIon (2018/2019) Tax YearAssessor’s Parcel No. Block 303, Lot 27Tax Code Area City of New york
Tax rate 10.5140%
Tax Class 4
Tax Assessment Transitional
Estimated market value $7,737,000
assessed ValueActual Transitional
Land $387,900 $387,900
improvements $3,093,750 $2,894,390
Total Assessed Value $3,481,650 $2,894,390Taxable Assessed Value $3,282,290Base Tax $345,100
addITIonal CHarGes/abaTemenTs/exempTIonsBldg-hazardous re-inspection Fee $85.00
Chinatown BiD $3,382.16
Total additional Charges $3,467ToTal base Tax & addITIonal CHarGes $348,567
1514
BIDDEADLINE:
January 28th, 2020• Alloffersarerequestedonorbeforetheofferduedateby5:00PMEST.
AUCTIONDATE:
January 30th, 2020 at 2 PM• OnlyQualifiedBiddersasdefinedintheBiddingProceduresandTerms&ConditionsofSalethathavesubmittedQualifiedBidsandprovidedepositsare eligible to participate.
ADDITIONALDETAILS:
• The property is being sold on an as is, where-is basis.
• Bid procedures available upon request
• Purchaser will be required to pay all costs and expenses it incurs in connection with its evaluation of the property
• rights are reserved to modify this process and the time frames set forth
AUCTIONLOCATION:
Herrick, Feinstein LLP 2 Park Avenue, New York, NY 10016
UnitedStatesBankruptcyCourtSouthernDistrictofNewYork-InRe:C.T.W.REALTYCOrP., - Case # 19-11425-mkv
INFORMATIONPROVIDEDAT:www.55Chrystie.com
should a private sale or joint venture not be consummated by January 24th, 2020, the following dates will apply:
Viewings:AvailablebyAppointmentUponRequest.
AuCTiON DETAiLSaddress: sub market sale price sale date Office SF retail sF Gla (sF) Class built/renovated ppsF
149 Canal Street Chinatown $7,300,000 10/10/19 5,764 1,441 7,205 C 1910 $1,013
53 E Broadway Two Bridges $5,500,000 1/11/19 5,127 1,709 6,836 C 1915 $805
161 Bowery Lower East Side
$24,300,000 8/30/18 13,921 5,073 18,994 C 1920/1989 $1,279
135 Bowery Lower East Side
$24,300,000 8/29/18 18,750 2,557 21,307 B 2015 $1,140
139 mott Street Little italy $6,800,000 8/24/17 4,900 2,430 7,330 C 1910 $928
30-32 howard Street Soho $46,000,000 1/9/18 42,407 0 42,407 B 1910/2018 $1,085
85 worth Street TriBeCa $21,000,000 8/4/17 5,000 20,000 25,000 C 1920 $840
174-178 mott Street* NoLiTa $44,000,000 12/15/16 39,998 8,190 48,188 B 1920/2015 $913
29, 31 Leonard Street, 198 w Broadway
Tribeca $24,500,000 7/11/18 29,400 0 29,400 C 1920 $833
79 walker Street Chinatown $19,000,000 9/29/16 21,582 0 21,582 C 1920/2016 $880
35-37 East Broadway Chinatown $20,200,000 3/14/18 24,157 9,000 33,157 C 1910/1985 $836
106 Franklin Street TriBeCa $11,500,000 1/25/17 11,000 2,400 13,400 C 1987 $858
64-66 white Street TriBeCa $13,445,000 3/27/18 15,036 0 15,036 B 1869 $894
44 hudson Street TriBeCa $14,000,000 9/27/18 12,000 3,570 15,570 C 1910/2019 $899
average $20,299,667 21,704 $940
address: sub market: lease signed Term Floor sF leased rent/sF
26 Bowery City hall Nov-18 10 years Ground 6,486 147.00
50 Bayard Street Chinatown Oct-17 7 years Ground 1,000 132.00
125 Canal Street Soho Sep-17 5 years Ground 1,000 132.00
79 mott Street Chinatown Aug-17 10 years BSmT, Ground 1,600 141.39
79 mott Street Chinatown mar-17 5 years Ground 870 179.31
116-120 mott Street Chinatown Dec-16 7 years Ground 500 177.79
7 Division Street City hall Jan-15 10 years Ground 1,650 90.42
14-16 Orchard Street Chinatown Apr-14 5 years Ground 637 74.07
145 Canal Street Soho mar-14 10 years Ground 1,200 107.37
9 Elizabeth Street City hall mar-13 8 years Ground 1,800 112.21
average 1,200 $132.00
address: sub market: lease signed Term Floor sF leased rent/sF
75 Spring Street Soho Jun-19 8 years 6 6,400 75.00
338 Broome Street Soho Feb-18 5 years 2 1,819 69.00
135 Bowery LES may-19 2 years 2 1,657 67.00
161 Bowery Street Soho Oct-19 2 years 3 3,300 63.00
84 Bowery Soho Sep-17 5 years 2 2,200 46.36
173 Canal Street Soho Jun-18 5 years 3 1,500 48.09
167-169 Canal Street Soho Apr-16 5 years 2 1,180 48.00
average 1,819 $63.00
RETAIL LEASE COMPARAbLES
OFFICE LEASE COMPARAbLES
PROPERTY SALE COMPARAbLES
6362
ProPerty SPeciFicS
Significant development in the immediate area consists of office, retail,
mixed-use and multifamily residential development.
• Canal Street is the primary retail corridor in the neighborhood and
over time has come to include a handful of national chain restaurants
and branch banks, in addition to the existing restaurant and retail stores
typical of Chinatown.
• in addition to the tenement style housing that has historically existed
in the neighborhood, new condominium development has taken place
over the past ten years, primarily along the borders with more desirable
neighborhoods of Soho, Little italy and the Lower East Side.
• The neighborhood represents a secondary office market within manhattan
that is included in the Soho submarket. As rents rise within the submarket,
the desirability of Chinatown office as a lower cost alternative continues
to increase, particularly for small and start-up creative, technology, and
media tenants.
• There are currently several mid-size office and residential development
projects in the immediate area, and a number of hotels have been
completed in recent years.
reformation
coop & Spree
3x1
michele varian
Blue in Green
Grand Seoul
Shabushabu macoron
Le coucou
Gohan-ya
DOmODOmO
SoHo
color Factory
tenement museum
miette culinary Studio
New museum of contemporary art
IMMEdIATE AREA PROFILE
Retail Restaurants Attractions
ProPerty SPeciFicS
The subject property is located in Chinatown, within the borough of
manhattan in New york City. Chinatown is bordered to the north by Little
italy, to the east by the Lower East Side, to the south by Civic Center, and to
the west by Tribeca and Soho.
As a historically Chinese ethnic enclave, Manhattan’s Chinatown has the
highest concentration of ethnic Chinese in the western hemisphere. The
area also serves the larger population base in the New york metro area,
which includes a significant Chinese population with additional Chinatown
neighborhoods spread across the five boroughs.
As the surrounding neighborhoods have seen significant redevelopment and
rising prices, the make-up of Chinatown has begun to shift, with existing,
formerly affordable, housing stock being renovated and leased at higher
rates.
New development has also taken place over the last ten years, primarily in
the form of luxury condominiums and hotels. Tourism and hospitality have
always played a role in the Chinatown economy given the historic significance
of the neighborhood, but over the last several years this has increased with
the increase in new construction, including luxury, hotels attracting tourists
to the neighborhood.
Public Transportation is available near the subject property. The D train is
available at Grand St. two blocks north of the subject, and the F train is
available at East Broadway, 6 blocks east.
LOCAL AREA PROFILE
TRANSPORTATION
6564
ProPerty SPeciFicS
Throughout the past decade both private and public investments have
transformed the economy of Lower manhattan. Numerous office buildings
have been built and renovated, and many are still under construction. mass
transit infrastructure and connections have been improved and, in some cases,
rebuilt entirely. The region has also seen a significant increase in the amount
of new retail complexes. Commuters and residents from other parts of the
metro area have moved to the region. while the financial sector continues
todominate LowerManhattan’seconomy, therehasbeena considerable
diversification of the overall workforce.
information and media companies including Time, inc. and Conde Nast have
relocated to the area, which is currently the fourth largest business district
in the country. Lower manhattan is also home to the South Street Seaport,
City hall, and wall Street. As of 2015, private sector employment accounted
for 228,300 jobs in the region, with one tenth of all private sector jobs in
the borough located within Lower manhattan. in addition to finance, other
economic sectors that are particularly strong include healthcare, business
services, hospitality, and information. Tourism has also become an important
part of the local economy, with over 14 million tourists visiting the region
each year.
Community services and facilities are readily available in the surrounding
area. These include public services such as fire stations, hospitals, police
stations,andschools(allages).ThesubjectpropertyislocatedintheNYC
Geog District # 2 - manhattan.
ECONOMIC FACTORS
COMMUNITY SERVICES
LibertyState Park
PershingField
Bridge Park
HamiltonPark
SouthCove
Madison Square
Park
ProspectPark
CoffeyPark
Tompkins Square Park
SunsetPark
Pratt Institute
Long IslandUniversity-Brooklyn
NYUNewportCentre
Mall
New YorkTransit Museum
New YorkTransit Museum
World TradeCenter
World TradeCenter
Statueof LibertyStatueof Liberty
GOVERNORSISLAND
Prospect ParkLake
East
Riv
er
BROOKLYN BRGM
ANHATTAN
BRG
WILLIAMSBURG BRG
QUEENS MIDTOWNTU NL
HOLLAND TUNL
BELT
BELT PKWY
BELTPKWY
BELTPKWY
BELT PKWY
FDR DR N
FDR
DR S
FDR
BELT
WhitneyMuseumWhitneyMuseum
WILLIAMSBURG
RED HOOK
RED HOOK
BOERUMHILL
LOWER EAST SIDE
GREENWOOD
GRAMERCY
FORT GREEN
WESTVILLAGE
EASTVILLAGE
SUNSET PARK
CARROLLGARDENS BROOKLYNBROOKLYN
MANHATTANMANHATTAN
278
278
478 278
278
1
24
3
1 Essex Crossing is a mixed use project of over 1,000 new residences, 350,000 square feet of office space, 100,000 square feet of green space and 300,000 square feet of retail spaces that will enhance the culture and unique flavor of New York City’s Lower East Side. This large complex is located just a few short blocks from the property.
2 215 Chrystie Street, Ian Schrager’s world-class hotel development, is a 160,000 square foot, 32-story, 370-room luxury hotel located five blocks north of the Property.
3 252 South Street, also known as One Manhattan Square has sold the most condos in 2019. The building rises 800 feet tall, with 815 magnificent condos with unique luxury amenities.
4 The Sione, located at 171 Suffolk Street is a 14 story building, featuring 88 luxury rental units with high end amenities.
Noteworthy Developments Nearby
6968
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To Two Boonsik
ShanghaiDumpling
Paris Sandwich
Ho WonBake
88 LanZhou
Deluxe Green BoBassanova Ramen
Dim Sum VIP
Mei Li Wah
Lion'sGateField
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HESTER STREET
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MAP © 2019 CARTIFACTDATA © OSM CONTRIBUTORS
7170
Based on the interpretation of the zoning ordinance, the subject property is
an outright permitted use that could be rebuilt if unintentionally destroyed.
Thesubject’suseispermittedoutrightbythezoning;however,itdoesnot
conform to certain specific zoning requirements as detailed above. if the
subject were destroyed unintentionally, the site could be redeveloped with
thesameuse;however,theoveralldesignandsiteplacementwouldhaveto
be adjusted to conform to current zoning requirements
ZONING ANALYSIS
Zoning overview
ZonInG summarYMunicipality Governing Zoning City of New york Planning & Zoning Department
Current Zoning Commercial(C6-1G)
Permitted Uses Officeorcommercialusesservingneighborhoodorcommunity needs
Current Use Officewithretailatgrade
Is Current Use Legally Permitted? yes
Zoning Change Not Likely
ZonInG requIremenTsConforming Use The existing improvements represent a conforming use
within this zone that is non compliant with regards to setback requirements.
Minimum Site Area (SF) N/A
Minimum Yard SetbacksFront(Feet)Rear(Feet)Side(Feet)
N/A30N/A
Maximum Building Height 75 Feet
Maximum Floor Area Ratio (FAR) 6.0 times the lot area
Maximum Building Area 45,000 SF
Parking RequirementSpaces requiredSpaces Provided
00
Zoning overview
7776
METAMECHANICS 11/05/1955 CHRYSTIE ST.
TAX MAPSCALE: N.T.S.
1
CELLAR
TOTAL CELLAR 7,528 SQ. FT.
1ST FLOOR
TOTAL 1ST FLOOR 7,545 SQ. FT.
2ND FLOOR
TOTAL 2ND FLOOR 7,550 SQ. FT.
3RD FLOOR
TOTAL 3RD FLOOR 7,550 SQ. FT.
4TH FLOOR
TOTAL 4TH FLOOR 7,550 SQ. FT.
5TH FLOOR
TOTAL 5TH FLOOR 7,550 SQ. FT.
6TH FLOOR
TOTAL 6TH FLOOR 1,092 SQ. FT.
TOTAL GROSS SQ. FT.(EXCLUDING VAULT)
46,365 SQ. FT.
EX STORE#106
EX.TOILET
EX.TOILET
EX.TOILET
EX.TOILET
EX.MECH.
EX STORE#105
EX STORE#104
EX STORE#103
EX STORE#101
EX.STORAGE
EXIT PASSAGEWAY
100'
75'
METAMECHANICS 11/05/1955 CHRYSTIE ST.
1ST FLOOR PLANSCALE: 3/32" = 1'-0"
1
1ST FLOOR7,545 SQ. FT.
#107
#106
#102EX STORE
EX STORE
EX. WATER METER ROOM
EX.TOILET
EX.STORAGE
EX.TOILETEX.
STORAGEEX.
STORAGEEX.
STORAGE
100'
75'
HATCHED AREANOT INCLUDED
METAMECHANICS 11/05/1955 CHRYSTIE ST.
CELLAR PLANSCALE: 3/32" = 1'-0"
1
CELLAR7,528 SQ. FT.
#102
#102
#105
#101
#103
#104
OFFICE#207
OFFICE#206
#204
OFFICE#203
OFFICE
#202
OFFICE#201
OFFICE#200
OFFICE#210
OFFICE#209
OFFICE#208
A/CMECH. RM EX. TOILET
EX.TOILET
STORAGE
STORAGE
EX. TOILET
EX. TOILET
100'
75'
METAMECHANICS 11/05/1955 CHRYSTIE ST.
2ND FLOOR PLANSCALE: 3/32" = 1'-0"
1
2ND FLOOR7,550 SQ. FT.
#205OFFICE OFFICE
7978
MECH. RM
OFFICE#301
OFFICE
OFFICE#307
OFFICE#310 OFFICE
#309
OFFICE#308
OFFICE#303OFFICE
#302
EX. TOILET EX.TOILET
100'
75'
METAMECHANICS 11/05/1955 CHRYSTIE ST.
3RD FLOOR PLANSCALE: 3/32" = 1'-0"
1
3RD FLOOR7,550 SQ. FT.
OFFICE#502
OFFICE#501
OFFICE#504
EX.TOILET
EX.TOILET OFFICE
#503
OFFICE#500
TERRACE
EX. TOILET
EX.STORAGE
EX. MECH.RM.
100'
75'
METAMECHANICS 11/05/1955 CHRYSTIE ST.
5TH FLOOR PLANSCALE: 3/32" = 1'-0"
1
5TH FLOOR7,550 SQ. FT.
EX.TOILET
CL.
CL.
OFFICE
OFFICEOFFICE
#402
OFFICE#408
OFFICE#409
OFFICE
OFFICE#407
OFFICE
OFFICE#401
EX.TOILET
EX.TOILET
EX.MECH
RM
EX.TOILET
EX.TOILET
EX.TOILET
100'
75'
METAMECHANICS 11/05/1955 CHRYSTIE ST.
4TH FLOOR PLANSCALE: 3/32" = 1'-0"
1
4TH FLOOR7,550 SQ. FT.
#403OFFICE
#410
TERRACEBELOW
ROOF
OPENTO
BELOW
EX. ELEVMECH RM
PENTHOUSE
503
100'
75'
METAMECHANICS 11/05/1955 CHRYSTIE ST.
6TH FLOOR PLANSCALE: 3/32" = 1'-0"
1
6TH FLOOR1,092 SQ. FT.
80
Greg CorbinPresident, Bankruptcy and RestructuringDirect:212.359.9904Cell:[email protected]
aaron Kline DirectorDirect:212.359.9930Cell:[email protected]
brandon serota Associate Direct:212.359.9928Cell:[email protected]
Chaya milworn AssociateDirect:212.359.9936Cell:[email protected]
elliot Haft AssociateDirect:212.359.9925Cell:[email protected]
FoR MoRe INFoRMATIoN oR To SeT UP A VIewING, PLeASe CoNTACT THe CoRBIN GRoUP AT RoSewooD ReALTY:
Disclaimer: Thisisaconfidentialbrochure(the“Brochure”)intendedsolelyforyourlimiteduseandbenefitindeterminingwhetheryoudesiretoexpressanyfurtherinterestintheproposedsaleof55-59ChrystieStreet,NewYork,NewYork(the“Property”).Theinformationcontainedherein,includinganyproformaincomeandexpenseinformation(collectively,the“Information”)isbaseduponassumptionandprojectionsandhasbeencompiled or modeled from sources we consider reliable and is based on the best available information at the time the brochure was issued. however, the information is subject to change and is not guaranteed as to completeness or accuracy. while we have no reason to believe that the information setforthinthisbrochure,underwriting,cashflows,valuationandotherfinancial information(oranyInformationthatissubsequentlyprovidedormadeavailabletoyou)containsanymaterialinaccuracies,norepresentationsorwarranties,expressorimplied,aremadewithrespecttotheaccuracyor completeness of the information. independent estimates of pro forma income and expenses should be developed before any decision is made on whether to invest in the property. Summaries of any documents are not intended to be comprehensive or all-inclusive, but rather only outline some of the provisions contained therein and are qualified in their entirety by the actual document to which they relate. you understand that the information is confidential and is furnished solely for the purpose of your review in connection with a potential investment in the property. you further understand that the information is not to be used for any other purpose or made available to any other person without the express written consent of rosewood realty Group. This offering is subject to prior placement and withdrawal, cancellation or modification without notice.