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 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.
THE RESIDENCES

BRONX
HARLEM
UPPER EAST SIDE
CENTRAL PARK

WHY NYC?
THE BIG APPLE
ATTRACTIONS
1,700
Parks and Recreation Facilities
200+
Museums
POPULATION
8.6M
Population in NYC
35.9
Median Age
#1
Tech Workforce
2.3M
People with a Bachelor’s
Degree or Higher
EDUCATION
105
Higher Learning Institutions
594K
College Students in NYC

INFRASTRUCTURE
LARGEST
Public Transit System in US
THREE
Major Airports
$83K
Median Household
Income
ECONOMY
$1.3T
GDP in NYC Metro
52
Fortune 500
Companies
MOST
Venture Capital in US
TOURISM
63.8M
Visitors in 2017
125K
Hotel Rooms

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

UNIT 2
ONE BEDROOM/1 BATHROOM
RESIDENCE:
BALCONY:
TOTAL:
650 SF
130 SF
780 SF

UNIT 3
TWO BEDROOM/1.5 BATHROOM
RESIDENCE:
BALCONY:
TOTAL:
950 SF
130 SF
1,080 SF

UNIT 4
TWO BEDROOM/2 BATHROOM
RESIDENCE:
BALCONY:
TOTAL:
1,000 SF
130 SF
1,130 SF

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

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

Residences
AT UPPER WEST SIDE
Chris Williams
Senior Managing Director
New York Office
Tel: 212-893-6416
Fax: 212-701.4185
cwilliams@realestate.com
Andrew Rutledge
Senior Vice President
New York Office
Tel: 212-893-6416
Fax: 212-701.4185
arutledge@realestate.com