EFTA01080922.pdf

PARK PARTNERS 320 EAST 82 ST I NEW YORK I NY August 20, 2015 Dear Partner, I am delighted to inform you that we finally closed on 320 East 82 Street, New York. The Seller delays throughout the summer were extraordinary but because of their not-for-profit humanitarian status there was little one could actually do. Thank you for your patience. I hope to get you closing binders within the next 30-days. At the end of the day, we purchased a very handsome building that we believe will be successful as a residential condominium. Please find enclosed recent news articles outlining the transformation of the area that indicate our submarket of the Upper East Side, low 80s, is positioned for substantial development. The Second Avenue Subway is projected for completion in the third quarter of 2016, which dovetails nicely with our projected completion and sell out plans. After recently touring some of the new condo projects that are currently for sale, we feel comfortable with our projected pricing. For your review, I have included some VERY preliminary floor plans and pricing sheet. We are contemplating offering building amenities as follows: • Part time doorman • Fully equipped, professionally designed athletic center • Individually locked storage rooms • Individually locked wine storage caves for up to 150 bottles each We hope to file for our demolition permit within the next 24 hours and start demo work on the building next week. In the next 45 days, we hope to file for our full building permit. Please fell free to contact me if you have any questions at or Thank you so much for your trust and friendship, David J. Mitchell 801 Madison Avenue, New York, NY 10065 EFTA01080922  THE WILLIAMSON DouglasEllimesTan 1911 REAL ESTATE TEAM 320 EAST 82ND STREET UNIT ROSTER FLOOR SELLABLE SF SELLABLE PSF GROSS SALE PRICE 1,500 SQFT PRIVATE MAISONETTE 4,507 $1,600 $7,211,200' GARDEN SPACE 2 3,735 $2,250 $8,403,750 3 2,899 $2,300 $6,667,700 116 SQFT TERRACE 4 2,899 $2,343 $6,792,357 116 SQFT TERRACE 5 2,814 $2,378 $6,691,692 210 SQFT TERRACE 828 SQFT PRIVATE PH 2,477 $2,700 56,687,900' ROOF DECK • 336 SQFT TERRACE TOTAL 19,329 $2,262 $42,454,599 NOTES: *PRIVATE OUTDOOR SPACE EFTA01080923  31' — 1 1/2" GYM PTORKOF BOILER ELECTRICAL RLSIEWNTIAi FOR UNIT 1 Po_om ROM STORAGE O O N O UP 5-4 - SKYLIGHT STORAGE FOP JrNIT ABOVE UP 1. FAMILY ROOM FOR RECRDOM 2ND FLOOR FOR UNIT I UP I 102' — 2" CELLAR 2ND FLOOR RESIDENTIAL UNIT: 456 SF MAISONETTE: 2390 SF 1 CELLAR RESIDENTIAL STORAGE AND GYM: 71 1 SF 1/8" — I'-0 a) 4) Sheet Number 0 2015-08-17 JEFFREY 258 EAST 3RD STREET — 0) GROUND FLOOR NEW YORK NY 10009 ot 320 EAST 82nd STREET C CELLAR PLAN COL E 0) CO CONCEPT DRAWINGS A-100 ARCH I TECTS PHONE: 212-375-8551 FAX: 212-375-8554 EFTA01080924  301 - 0" I I 1 1 LAU% WAX. MASTER MASTER BATHROOM BEDROOM OMEN LLYIKG MAIL DN - I LOBBY BACK TARO FOR win 1 RESIDENTIAL sST 52ND STRUT N 10122Y BEDROOM 2 I I C IC B TYPE_A BATHROOM BMTRIXIM 4 RAMP FOR 2ND FLOOR UNIT DN fl REDEMONL3 UP RAMP SIDE TARO FOR UNIT I 0 102' - 2" FIRST FLOOR 2ND FLOOR RESIDENTIAL UNIT: 380 SF MAISONETTE: 1998 SF LEVEL 1 TERRACE: 1500 SF 1 /8" = Sheet Number 258 EAST 3RD STREET 2015-08-17 JEFFREY TO" 1= GROUND FLOOR NEW YORK NY 10009 a. 320 EAST 82nd STREET FIRST FLOOR PLAN COL E CONCEPT DRAWINGS A- 1 01 ARCH I TECTS PHONE: 212-375-8551 FAX: 212-375-8554 EFTA01080925  70' - 2" r D° N / TYPE A EIATHR41 KITCHEN 00 LAUNDRY BEDROOM3 BOOM 11' -2" x 13-9' J B L Imam(' ROOM CL 25.-6“ x 19. -r iw• BEDROOM 2 N N 0142 MASTER MASTER DINING ROOM BMW Al BEDROOM 4 x DN urrNANtrAi ROOM r SECOND FLOOR 2ND FLOOR RESIDENTIAL UNIT: LEVEL 2 yr =1.-a. 0, Sheet Number 258 EAST 3RD STREET 2015-08-17 JEFFREY 1= GROUND FLOOR NEW YORK NY 10009 a. 320 EAST 82nd STREET SECOND FLOOR COL E CONCEPT DRAWINGS PLAN A-102 ARCH I TECTS PHONE:212-375-8551 FAX: 212-375-8554 EFTA01080926  ir 72' — 2" -11-11- 1 a a ir 0 ( TYPE A BATHROOM 00 AHNERY EirnROOm 3 ISLTCNEN 11'-2" x 13-9' ROOM 00 I CL LIVING ROOM x 19.-C 1 1V BEDROOM DER 30m 3 FIRE STAIR w UP BALCONY I DN ( 1 ` TRASH ROOM \ MAS ER MASTF aroRn EILEIROOm x I 3' -8" In BATHROOM le x 17' MECHANICAL ROOM U I THIRD FLOOR 3RD FLOOR RESIDENTIAL UNIT: BALCONY: 1 1 6 SF C LEVEL 3 Wi 1/8" = 11-Cr Sheet Number 258 EAST 3RD STREET 2O15-O8-17 JEFFREY GROUND FLOOR NEW YORK NY 10009 0- 320 EAST 82nd STREET THIRD FLOOR PLAN COL E CONCEPT DRAWINGS A-103 ARCH I TECTS PHONE: 212-375-8551 FAX: 212-375-8554 EFTA01080927  72' -2 - TYPE A um= . BAlNROOM ofnRoom 3 ROOM N LIVING ROOM O BEDROOM 2 FOYER EN ‘t BALCONY MASTER BF DROOM 4 MAST BEDROOM BATHRO M 4 x 17 MEC HANICA THROOM 4 ROOM FOURTH FLOOR 4TH FLOOR RESIDENTIAL UNIT: . BALCONY: 116 SF LEVEL 4 1/8 = 1'-0" Sheet Number 258 EAST 3RD STREET 2015-08-17 JEFFREY GROUND FLOOR NEW YORK NY 10009 a. 320 EAST 82nd STREET 115 4) .0 FOURTH FLOOR PLAN COL E CONCEPT DRAWINGS N A-104 ARCH I TECTS PHONE: 212-375-8551 FAX: 212-375-8554 EFTA01080928  70. — 2 - ," , =to TYPEA BATHROOM 00 LAUNDRY BEDROOM 3 EMDEN falm 11'-2" x II -S' C ca LIVING ROOM 35 -fi x 19'-6" / GALLERY k 6 x 0 arnoom 2 1 I1'-4" x POWDER N ROOM ROOM2 FIRE STAIR UP L BALCONY DN kJRASH ROOF BEDROOM 4 Id' x 13*-8- I NEGHANIF.Al ROOM Ir FIFTH FLOOR 5TH FLOOR RESIDENTIAL UNIT: 2695 SF BALCONY/TERRACE: 210 SF LEVEL 5 1 CI Sheet Number 258 EAST 3RD STREET 2015-08-17 JEFFREY GROUND FLOOR NEW YORK NY 10009 0- 320 EAST 82nd STREET FIFTH FLOOR PLAN COL E CONCEPT DRAWINGS A-105 ARCH I TECTS PHONE: 212-375-8551 FAX: 212-375-8554 EFTA01080929  62' — 2" r_fp_EA \ BATHROOM O AnHA ROOM 25'-6" x 19*-6" 0 WIC — TERRAC POWDER ROOM TIRE STAIR UP craw 3 1b 1 BATHROOM 3 urrlIAHICAJ ROOM SIXTH FLOOR 6TH FLOOR RESIDENTIAL UNIT: 2358 SF TERRACE: 336 SF cp LEVEL 6 Sheet Number 258 EAST 3RD STREET 2015-08-17 JEFFREY GROUND FLOOR NEW YORK NY 10009 a. 320 EAST 82nd STREET SIXTH FLOOR PLAN COL E CONCEPT DRAWINGS A-106 ARCH I TECTS PHONE: 212-375-8551 FAX: 212-375-8554 EFTA01080930  DN O - 6 II ELOOR TERRACE DN ELEVATOR MACHINE R0121,1 OVERRUN ROOF ROOF TERRACE: 828 SF ROOF TOP lig.= I.-O. JEFFREY 258 EAST 3RD STREET - 2015-08-17 2 GROUND FLOOR NEW YORK NY 10009 320 EAST 82nd STREET ROOF PLAN COLE CONCEPT DRAWINGS A-107 ARCH I TECTS PHONE: 212-375-8551 FAX: 212-375-8554 - EFTA01080931 THE REAL DEAL NEW YORK CITY REAL ESTATE NEWS Gary Barnett to pay $iooM for UES development site Properly. home to a Gristedes supermarket. part ofExtelts latest condo assemblage A88::52 18. 2015 04.29PM PREVIOUS Pecs, ref,: Cary Barnet John CatSarafid.,S and 350 East 86th Snot on the Upper East S'de Gary Bamett's Extell Development is in contract to buy a Gristedes supermarket site on the Upper East Side for about $100 million. The deal will let the developer put up a 20-story condominium project of more than 200 units, when combined with other sites Extell already owns. The site, at 350 East 86th Street, can be combined with four Extell-owned low-rise properties facing First Avenue between East 86th and East 85th streets, Crain's reported. Extell also bought a property on East 85th Street that could be part of the project. A JLL team led by Richard Baxter brokered the transaction on behalf of the seller, a family that owned the property for many years. If Barnett buys the four remaining adjacent parcels between East 86th and East 85th streets, he would be able to build a project that stretches the entire block, according to Crain's. Earlier this month, The Real Deal reported that Extell came on board as a partner on C&K Properties' Midtown development site at 1710 Broadway. [Crain's] — Hiten Samtani Tags: extell development, gristedes, ill Sgn Up to see what your friends ire. Now Trending on The Real Deal by Taboote 11 crazy facts about Ira Rennert's $248M fiamptons mansion What could Gary do? Analyzing Extell's 54.46 sellout at the Nordstrom Tower Joe Sitt's Thor pays $36M for Williamsburg development site From The Web Sponsored Links by Tab:tote Rafts to Riches - Pool Boy Gains Millions in Stocks Money Morning Report Subscription Forget The (Phone 6. Next Apple Sensation Leaked The Motley Fool EFTA01080932 IN THE NEWS: mORGAN FREEmAN GENO SMITH HILLARY CLINTON DONALD TRUMP NEW YORK METS * E HOME SECIIONS SEARCH NEW YORKPOST FOLLOW SUBSCRIBE SIGN IN FRENCH LOFT • OcYg DESIGNS E=I3MM 0 00 Pay less tax — Second Avenue residential projects on track to open C n way less time. t your quarterly tan bill automatically. 0 with subway CAuckBooks. By Stara .ozzo 0,...1.2M5 115:0530 TREhlft, Nr , hin , Al ON AFN Jr.ordors daughter Kyra to clean up hstagram amount Hackers leak personal data of 32M Ashley Madsen customers MORE 111006 The long wait on Second Avenue will soon be over — STEVE CUOZZO not only for the new subway, which the MTA hopes to open in December 2016, but for progress on two large development sites. Dewloptc Nordstrom Taff design ad up inhe air To most neighbors' relief, Icon Realty Management has started full-bore demolition at the assemblages — EFTA01080933 Eat* readies for move to new 1538.1546 Second Ave. between East 80th and 81st streets and 1562-1564 Second between East 81st and corporate home on W. 23rd Si Wj 82nd streets. These are the west restaurants While any such job creates short-term disruptions, it Top de Blasio backer mulling run in Times Square means actual construction of the new projects will against 'anti-business, anti-cop begin in early 2016, sources told us. socialist' Violence in Times Square could Both sites are slated for luxury residentiaVretail buildings. Although plans for a 14-story structure were send businesses fleeing revealed earlier for the northern site, there's no word VIDEO yet on exactly what will go up on the larger site This mediocre new restaurant between 80th and 81st streets. should have stayed on the Riviera That location, spanning more than half of the east blockfront, comprises six tenement structures. ..", Icon, headed by Terrence Lowenberg and Todd Cohen, paid just 444.8 million for the Check out the $66M 'crown buildings and S3 million for air rights a few years ago — both reflecting values which are likely to skyrocket when the subway is completed. jewel of Soho real estate' No Manhattan boulevard is in such tumultuous transition as Second Avenue, where small businesses and rich and poor residents alike have endured a decade of eminent domain evictions, street digs and sidewalk-narrowing — to say nothing of the MTA's REAL ESTATE NEWS ship-size temporary structures which blocked windows. realtorcom• Netfax Exec Ted Sarandos is On top of it all, Icon had to empty its development sites of stores and cafés, further Selling Beautiful S9.4M darkening the avenue. Beverly Hills Home But the new projects should be open in time to catch the wave of rising fortunes on the Rolm' Away From the Hills: boulevard when the new subway finally puts an end to the disruptions — and fulfills a Limp Bizkit's Fred Durst is Selling House in Hollywood 70-year-old dream. Estate of Hollywood Legends Steve Allen and Jayne Burgeoning online music provider Pandora Media is doubling its Manhattan office meadows for Sale in Encino presence. The Oakland, Calif.-based company is adding 51,065 square feet with a 10- year expansion lease at SL Green's 125 Park Ave., bringing its total in the prewar tower Life's a Beach: Jaguars OB Blake Bowles Buys near Grand Central Terminal to 103,515 square feet. Oceanfront Home In Jacksonville SL Green Executive Vice President Steven Durels, citing Pandora's "rapid growth," said the company has "constructed an extraordinary office environment for its employees? Farewell. Oetrcw: New Maple Leafs Coach Mike Babcock Lists Michigan Home Asking rents in the building are around 170 a square foot. CBRE's William lacovelli and Ramsey Feher represented Pandora and SL Green's MORE FROM Howard Tenenbaum and Gary Rosen rapped the landlord in-house. Cushman & Wakefield on Monday reported the city investment sale market rode "brisk momentum" carried over from 2014 into the first half of 2015 — "on pace for an all- time record in dollar volume of sales," with "values at all-time highs for every property type in every neighborhood," said Cushman's Bob Knakal, chairman of New York investment sales. Second-quarter volume totaled 416.8 billion, the fourth-highest quarterly total on record. On an annualized basis, dollar volume might reach 465.6 billion, topping 2007's all- time high by 22 percent, although Knakal expected final year-end volume closer to S65 billion. In Manhattan, $12.8 billion in total sales pushed the borough average price per property up 29 percent from 2014's average, to 453.5 million. NOW ON PC In the first new lease at 11 Madison Ave. since SL Green agreed to buy the Mt Deco EFTA01080934 giant for $2.29 billion, global talent agency William Morris Endeavor has signed for 33,000 square feet, expanding from its current 66,000 square feet at the address. Not that the new owners were exactly sweating for tenants: the 2.3 million-square- foot tower is nearly fully leased, with Credit Suisse the largest occupant and Sony Corp.'s US division on the way. A grieving Morgan Freeman returns to movie set The William Morris Endeavor asking rent was into triple digits: a source said. However, none of the brokers would comment. CBRE's Howard Fiddle, Zakery Snider and Brad Gerla acted for the landlord. The tenant RFK Jr. orders daughter Kyra to was repped by Newmark Grubb Knight Frank's Brian Goldman and Savills/Studley's clean up Instagram account John Mambrino.