Urban/Infill Redevelopment Program PELHAM MANOR SHOPPING PLAZA ***** 400 EAST FORDHAM ROAD ***** RIVER PLAZA ***** 4650 BROADWAY AT SHERMAN ***** 216th STREET ***** 260 EAST 161st STREET ***** CANARSIE ***** LIBERTY AVENUE
Urban/Infill Redevelopment Program
Urban/Infill Redevelopment Program 400 East Fordham Road - Multi-level retail and commercial building - Over 650,000 people in a two-mile radius - Potential additional expansion - $100 Million development project Pelham Manor Shopping Plaza - 10 miles from Manhattan with over 400,000 people in a 3-mile radius - Existing warehouse buildings, replaced by a multi-anchor community retail center - $35 Million development project 260 East 161 st Street - 225,000 square foot, 10 story office building located directly across the street from the new Bronx Criminal courthouse Complex - Current rents are below market - Redevelopment plans include ultimately re-tenanting with 50% retail 4650 Broadway & Sherman Avenue - 140,000 square foot building with potential expansion rights - Redevelopment plans include retail, commercial and residential components totaling over 175,000 square feet - $55 Million development project 216 th Street at 4055 10 th Avenue - $24 Million redevelopment project - 60,000 sq. ft. office building to be occupied by the New York City Human Resources Administration (HRA) - Location has been approved by both the HRA and the NYC Department of Real Estate (DRE) 8925 Avenue D Canarsie (under contract) - Existing warehouse buildings replaced by a mixed-use community center - Strong, infill location with a total population of 450,000 within 2 mile radius - An anticipated total development cost of approximately $55 Million 98 th Street at Liberty Avenue - $15 Million redevelopment project - 30,000 feet of retail and 95,000 selfstorage facility - Self storage to be operated by Storage Post
PELHAM MANOR SHOPPING PLAZA ****** PELHAM MANOR, NEW YORK
PELHAM MANOR SHOPPING PLAZA 2 PENN PLACE *Pelham Manor, NY Regional Map Pelham Manor Competition Map Super Stop & Shop Super Stop & Shop, Staples Best Buy Linen s N Things New Roc City Bally s, Modell s, Regal Cinema Kohl s (Future Development) Target (under construction) Pelham Manor Shopping Plaza Home Depot
PELHAM MANOR SHOPPING PLAZA 2 PENN PLACE *Pelham Manor, NY Market Overview The property is located in Pelham Manor, which is a densely populated upper-income area of Westchester County, NY. There are approximately 29,000 people in a 1 mile radius and 400,000 in a 3-mile radius with an average household income of $73,000 and $60,000, respectively. Hutchinson River Pkwy Boston Post Road Demographic Summary 1 Mile 3 Mile 5 Mile Total Population 28,559 400,119 1,114,822 Median HH Inc. $60,205 $47,713 $44,052 Average HH Inc. $73,324 $59,780 $56,839
PELHAM MANOR SHOPPING PLAZA 2 PENN PLACE *Pelham Manor, NY Aerial Photograph Route 1 (Boston Post Road) Hutchinson River Parkway Redevelopment Rendering
PELHAM MANOR SHOPPING PLAZA 2 PENN PLACE *Pelham Manor, NY Proposed Site Plan
FORDHAM PLACE ****** 400 EAST FORDHAM ROAD, BRONX, NEW YORK
FORDHAM PLACE 400 EAST FORDHAM ROAD * Bronx, New York Regional Map Fordham Place Competition Map A. J. Wright, PC Richard Payless Shoe Source Modell s Foot Locker Strawberry The Gap Fordham Place Seaman s Furniture
FORDHAM PLACE 400 EAST FORDHAM ROAD * Bronx, New York Market Overview According to the New York City Planning Commission, Fordham Road is the most successful retail corridor in The Bronx with approximately 25,000 shoppers visiting the stores daily and annual retail sales of $500 million according making it the third strongest retail corridor in New York. Demographic Summary 1 Mile 2 Mile 3 Mile Total Population 206,850 651,504 1,193,185 Average HH Inc. $33,414 $37,631 $40,477 Median HH Inc. $24,205 $28,217 $30,162
FORDHAM PLACE 400 EAST FORDHAM ROAD * Bronx, New York CURRENT Expansion Rights Additional commercial or residential GLA
FORDHAM PLACE 400 EAST FORDHAM ROAD * Bronx, New York REDEVELOPMENT RENDERINGS
RIVER PLAZA 225 TH STREET & BROADWAY ****** BRONX, NEW YORK
RIVER PLAZA 225TH STREET & BROADWAY* Bronx, NY BEFORE REDEVELOPMENT AFTER REDEVELOPMENT Photos taken by: Paul Rivera/archphoto (c)
RIVER PLAZA 225 TH STREET & BROADWAY* Bronx, NY Post-Redevelopment Photographs Photos taken by: Paul Rivera/archphoto (c)
4650 BROADWAY AT SHERMAN AVENUE ****** MANHATTAN (WASHINGTON HEIGHTS), NEW YORK
SHERMAN AVENUE 4650 BROADWAY* Manhattan, NY Regional Map Sherman Avenue Competition Map Duane Reade Rent a- Center Subway & Radio Shack Sherman Avenue Staples C. Gonzalez 1280 Food Corp
SHERMAN AVENUE 4650 BROADWAY* Manhattan, NY Market Overview A-P/A has purchased a 142,500 sf property located at 4650 Broadway, in Manhattan (Washington Heights), NY. The property (the Property ) is tenanted by the NYC Department of General Services ( NYC-DGS ), which occupies 60,000 sf and is currently on a month-to-month basis, and a public garage operator occupying 74,000 square feet. The Property will be completely demolished and a new 285,000 square foot mixed use project will be developed. The Property is across the street from Fort Tryon Park and is equidistant between the main campus of Columbia Presbyterian Hospital and its Allen Pavilion campus. This location has high barriers to entry and is densely populated with 530,000 people in a 2-mile radius. Demographic Summary 0.5 Mile 1 Mile 2 Mile Total Population 54,549 139,935 529,999 Median HH Inc. $27,981 $31,657 $29,932 Average HH Inc. $35,501 $40,618 $40,762
SHERMAN AVENUE 4650 BROADWAY* Manhattan, NY CURRENT
SHERMAN AVENUE 4650 BROADWAY* Manhattan, NY REDEVELOPMENT RENDERING
216 TH STREET ****** 4055 10 th AVENUE MANHATTAN, NEW YORK
216 TH STREET 4055 10 th Avenue, N.Y. Regional Map 4055 10 th Avenue at 216 th Street Sherman Ave
216 TH STREET 4055 10 th Avenue, N.Y. Market Overview A-P/A has acquired a fee simple interest in 4055 10th Avenue (the Property ), a 65,000 square foot parking garage located at the corner of 10th Avenue and 216th Street in the Inwood section of Manhattan. The purpose of the acquisition is to redevelop the building into a 60,000 square foot office building that would be occupied by our current tenant at 4650 Broadway (at Sherman Avenue), the New York City Human Resources Administration ( HRA ). The location has been approved by both HRA and the NYC Department of Real Estate ( DRE ) and we have received a term sheet from DRE outlining a new 15 year lease for the building. Additionally, a 100 space rooftop parking deck is planned for the site. Demographic Summary.5 Mile 1 Mile 2 Mile Total Population 30,873 156,847 536,119 Average HH Inc. 45,536 42,793 41,481 Median HH Inc. 37,300 32,868 30,978
216 TH STREET 4055 10 th Avenue, N.Y. CURRENT View from the corner of 10th Avenue and 216th Street
216 TH STREET 4055 10 th Avenue, N.Y. REDEVELOPMENT RENDERING
260 EAST 161 st STREET ****** BRONX, NEW YORK
260 EAST 161 st STREET * Bronx, NY Regional Map 260 E 161 st Street
260 EAST 161 st STREET * Bronx, NY Market Overview The Property is a 223,611 square foot, 10-story building located in the Melrose section of the Bronx, approximately three blocks from the Yankee Stadium. It is directly across the street from the new Bronx Criminal Courthouse Complex. It is 100% occupied, with leases to New York City, Albert Einstein College, and New York State comprising 85% of the square footage and income. Demographic Summary 0.5 Mile 1.0 Mile 2.0 Mile Total Population 57,862 192,706 712,029 Average HH Inc. $34,363 $31,017 $32,900 Median HH Inc. $23,177 $20,649 $22,230
260 EAST 161 st STREET * Bronx, NY CURRENT
260 EAST 161 st STREET * Bronx, NY REDEVELOPMENT RENDERING
New Bronx Criminal Court Complex 260 EAST 161 st STREET * Bronx, NY
CANARSIE PLAZA ****** BROOKLYN, NEW YORK
CANARSIE PLAZA 9025 AVENUE D *Brooklyn, NY Regional Map Canarsie Plaza
CANARSIE PLAZA 9025 AVENUE D *Brooklyn, NY Aerial Photograph Demographic Summary 0.5 Mile 1 Mile 2 Mile Total Population 20,742 107,413 457,908 Median HH Inc. $44,317 $41,614 $36,564 Average HH Inc. $52,009 $50,290 $45,778
CANARSIE PLAZA 9025 AVENUE D *Brooklyn, NY REDEVELOPMENT RENDERINGS
CANARSIE PLAZA 9025 AVENUE D *Brooklyn, NY Proposed Site Plan
LIBERTY AVENUE 98 TH ST. at LIBERTY AVENUE, OZONE PARK, QUEENS, NY LIBERTY AVENUE ****** OZONE PARK, QUEENS
LIBERTY AVENUE 98 TH ST. at LIBERTY AVENUE, OZONE PARK, QUEENS, NY Regional Map Liberty Avenue
LIBERTY AVENUE 98 TH ST. at LIBERTY AVENUE, OZONE PARK, QUEENS, NY Aerial Photograph The parcel of land west of 98th Street will be occupied by CVS and the parcel east of 98th Street will feature small shop space fronting Liberty Avenue, and a self-storage facility on the rear portion of the parcel. Demographic Summary 0.5 Mile 1 Mile 2 Mile Total Population 24,181 95,292 619,479 Median HH Inc. $49,822 $52,215 $49,105 Average HH Inc. $57,774 $61,422 $60,405
LIBERTY AVENUE 98 TH ST. at LIBERTY AVENUE, OZONE PARK, QUEENS, NY