HOTEL/RETAIL OPPORTUNITIES

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1 HOTEL/RETAIL OPPORTUNITIES HI-VISIBILITY SITE IN SULLIVAN COUNTY Monticello, New York 20± Acre Retail Development Site for Hotel site, which is designed and ready for finalization. Conceptual plans complete for additional retail. Exceptional Visibility at Exit 105 of NYS 17 (I-86) Existing Retailers WalMart ShopRite McDonalds Dunkin Donuts Staples Home Depot AutoZone SITE Join a burgeoning retail community in the New York s Catskills. This site is a natural extension of the retail growth in this area and is ideal for hotel and restaurant development adjacent to proposed casino resort developments. 20+ Acres Interchange Visibility Adjacent to National Tenants Municipal Water & Sewer Commercial Zoning Permitting Retail You too can benefit from a productive location in New York s hottest retail corridor. Call RJ Smith and John Lavelle FIND YOUR NEXT TOP PERFORMER Real Estate Solu$ons RJ Smith Realty 55 Main Street Pine Bush, NY (845) Tel. (845) Fax rj@rjsmithrealty.com FOR SALE 20+ Acre Site $1,250,000

2 Impact Area A B C D E F G Total Wetland Impact Wetland Impact Summary NYSDEC Eligible Wetland Area ± 0.05 Ac. ± 0.05 Ac. ± 0.01 Ac. ± 0.11 Ac. Federal Wetland Area ± 0.09 Ac. ± 0.05 Ac. ± 0.05 Ac. ± 0.01 Ac. ± 0.02 Ac. ± 0.01 Ac. ± 0.03 Ac. ± 0.26 Ac.

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5 Highlights of the 20± Acre Thompson Town Centre Site: Engineering: Location: Retail Community: Access: 20± Acre retail development site with exceptional conditions to accommodate national retail tenants in a multiple pad site configuration. Also ideal for restaurant uses to complement the hotel site, which is approved and ready for finalization. Work currently being conducted Traffic studies Wetlands permits Engineering Plans complete for hotel site and conceptual plans complete for additional retail sites in Phase I and expansion to Phase II. Cultural study Application and SEQRA Subdivision Centrally located adjacent to the westbound ramp of Exit 105 of NYS Route 17 (Interstate 86) in the Town of Thompson, Monticello, NY. The location currently serves as a rapidly expanding primary retail hub for Sullivan County. Nearby retail at Exit 105 includes a Super Wal-Mart, ShopRite Supermarket, Burger King, Home Depot, Staples, and an Auto Zone on the parcels immediately surrounding the subject property. The site is situated on NYS Route 42, and benefits from an existing signalized intersection just past the R.J. Smith Realty 55 Main Street, Pine Bush, NY (845)

6 Interstate exit ramp. McDonalds is located on this corner. Zoning: Services: The entire site is zoned HC, Highway Commercial. This zoning permits a wide variety of uses, including Retail, Restaurant, Office and Hospitality. The property has municipal water and sewer available. Ample electric supply is provided by Orange & Rockland Utilities. Heating in this region is typically accomplished via propane, as there is no natural gas in the area. R.J. Smith Realty 55 Main Street, Pine Bush, NY (845)

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8 recordonline.com - Sullivan County developer Berman back with new casino plans Page 1 of 1 12/4/2013 Sullivan County developer Berman back with new casino plans By Steve Israel Times Herald-Record Published: 2:00 AM - 11/17/13 Last updated: 5:59 PM - 11/17/13 ROCK HILL He's back. Sullivan County native Robert Berman, who almost brought a casino to Sullivan just over a decade ago, is the latest player in the increasingly competitive quest for a Catskill gambling resort. Berman has teamed with longtime partner Joe Bernstein on plans to build a $600 million casino/family entertainment complex in Rock Hill, just off Route 17's Exit 109. Their former company, Catskill Development, was the predecessor of Empire Resorts, which now wants to build a casino at the site of the old Concord hotel. Their new company is the Sullivan-based RH Land Development. The new plans for Berman's Catskills Entertainment City and Casino Resort include a 527-acre family-oriented resort with a hotel, live theaters, a golf course and a casino, according to the project's website. There will also be at least two specific nods to the Catskills, a Catskills Comedy Hall of Fame and a Woodstock Revival. Berman did not return calls for comment. Bernstein did not want to comment. Now that New York state voters have approved a constitutional amendment allowing non-indian casinos, the Entertainment City proposal joins a crowded field of at least five other projects vying for the first four upstate casino slots in three upstate regions: the Catskills/Hudson Valley, the Southern Tier and the Capital/Saratoga region. One region, widely assumed to be the Catskills, could get two. Sullivan already has four casino contenders, with two projects vying to build at the Concord just outside Monticello and two more at, or adjacent to, the crumbling Grossinger's in Liberty. There's also one project in Ulster County, at the old Nevele in Ellenville. The winners will be chosen by an as-yet-unnamed state panel by early summer, according to state Sen. John Bonacic, R-C, Mount Hope, an architect of the casino legislation. Back in 2000, Berman's Catskill Development and the St, Regis Mohawk Indian tribe won federal approval for a casino at Monticello Raceway. While they were waiting for Gov. George Pataki to sign off on the deal, Park Place Entertainment lured the tribe away from Catskill, which effectively killed the plan. sisrael@th-record.com

9 recordonline.com - Sale of Kutsher's finalized Page 1 of 1 12/4/2013 Sale of Kutsher's finalized Famous Sullivan country club to become healthy living center By Chris Valdez Times Herald-Record Published: 2:00 AM -11/29/13 THOMPSON The sale of the last iconic Catskills resort was finalized late Wednesday, according to Sullivan County Industrial Development Agency Chairman and county Legislator Ira Steingart. Once the site of legends like Wilt Chamberlain, Mickey Mantle and Jerry Seinfeld, the century-old, family-operated Kutsher's Country Club is being transformed into a $90 million Nature Cure Lifestyle Management Center. "We need resorts like this in Sullivan County," Steingart said. The 1,300-acre resort, both its man-made and natural lakes, and all its properties outside Monticello were sold to Veria Lifestyle, which is connected to the Veria Living media conglomerate. Veria's management has said it hopes to start demolition very soon with the opening expected next spring. Steingart said the timeline is aggressive but he's eager to get the property back on the tax rolls and create hundreds of expected jobs. "I'm very excited about the closing," he said. Steingart said Veria is looking for bids to demolish the building and is hoping to hire a local company. The agency approved a sales tax exemption of $88,000 for the process in October. The healthy living resort will feature "yoga sciences," "ayurvedic medical treatment," "biodynamic restaurants," golf, tennis and "a wide range of health-driven activities." Steingart doesn't expect Veria to rely on borrowing to finance the project because the owner of the parent company is Indian media mogul Subhash Chandra, whose worth is $2.4 billion, making him one of the richest people in the world. Recently, the hotel has been branded as The New Kutsher's Resort and leased to Yossi Zablocki. Brothers Louis and Max Kutsher began the business in For the next century the historic resort transformed itself from a rooming house to a 400-room year-round resort with a golf course and, at one time, a sports academy. Much of the hotel's development in the last half-century was overseen by Milton and Helen Kutsher, and later their son, Mark Kutsher, who took the reins in the early 1990s and helped guide the resort to its new ownership. Milton Kutsher died in Helen Kutsher, considered the matriarch of the Catskills, died this past March. cvaldez@th-record.com

10 recordonline.com - Steve Israel: Casinos could also bring museums, college programs Page 1 of 2 12/4/2013 Steve Israel: Casinos could also bring museums, college programs By Steve Israel Published: 2:00 AM - 12/01/13 Let the competition begin. Not just for one of the up-to-two slots for the first Catskill casinos but for what will make each of those proposals special. We already have at least a half-dozen contenders for that long-awaited Catskill casino with five vying to build destination resorts at or near three of the old Catskill resorts: the Concord near Monticello, Grossinger's in Liberty and the Nevele outside Ellenville; and one wanting to build just off Route 17's Exit 109 in Rock Hill. But at least two projects are trying to distinguish themselves with blasts from the Catskills' glorious past. At the Nevele, Jack Godfrey finally hopes to find a home for his long-proposed Catskill Resort Museum. It would chronicle the days when millions of vacationers came to hundreds of resorts to see entertainers ranging from Louis Armstrong to Jerry Seinfeld an area with such renown that politicians like LBJ and RFK made it a must stop. "The simple reality is that without the Nevele, our museum project is down the toilet, and the preservation of Catskill history will be a series of websites and little else," says Godfrey, who's obviously lobbying for the Nevele to get a casino slot. But the newest casino contender in the race to be chosen by an as-yet-to-be-named state commission also aims to pay homage to the Catskills' glorious past. Sullivan native Robert Berman and his partner, Joe Bernstein, want to build a Catskills Comedy Hall of Fame at their proposed casino/family entertainment complex in Rock Hill. The tentative plans sound similar to their proposal last year for a Friars Comedy Hall of Fame, which would focus on the who's who of comedians who played the Catskills including comedy legends like Milton Berle, Jerry Lewis, Joan Rivers, Billy Crystal and, of course, Seinfeld. Let more competition begin The folks behind that proposed Nevele casino have already said they'll pay for a training program for casino-related jobs if the Nevele is chosen as a Catskill casino. Back in September, before state voters approved the constitutional amendment allowing non-indian casinos, Nevele developer Michael Treanor and his partners announced their Mid-Hudson Gaming Workforce Master Plan. SUNY Ulster would help train the workers, SUNY Ulster President Donald Kaat said in September. This week, SUNY Orange and Dutchess County Community College also said they would help.

11 recordonline.com - Steve Israel: Casinos could also bring museums, college programs Page 2 of 2 12/4/2013 But don't think Sullivan County which many think is a lock for a casino is being left out of the casino jobs action. SUNY Sullivan already has a casino/resort management program from about a decade ago when it looked as if the county was on the verge of getting at least one Indian casino. The college will update and share that program with the Hudson Valley Educational Consortium, which includes Orange, Ulster and Rockland community colleges, SUNY Sullivan President Karin Hilgersom said. Plus, SUNY Sullivan is finalizing an agreement with Empire Resorts widely believed to be the frontrunner for a Catskill casino to train potential workers for its resort casino at the old Concord, Hilgersom said. Sullivan County Legislator Cora Edwards not only wants SUNY Sullivan to train workers for a Sullivan casino, but for any of the up to seven casinos that will eventually be allowed in New York. Edwards, who is Sullivan's representative on the Mid-Hudson Economic Development Council, wants SUNY Sullivan to become "a regional magnet for training future employees at casinos throughout New York state." And that means teaching everything from dealing table games to hospitality management, in part in cooperation with Sullivan BOCES, she said. SUNY Sullivan will help train those casino workers, Hilgersom said especially after it knows exactly what the casinos might need. "SUNY Sullivan is ready to assist," she said. "But we want to listen to the employers and what their needs are and baseour program on a needs assessment." sisrael@th-record.com