PARK PARTNERS

PARK PARTNERS November 23, 2015 Dear Partner, I hope this letter finds you well — please see the below updates on the Park Mansion: I am happy to report that we have completed the building's demolition stage. I have included a few photos for your reference. Furthermore, we are very close to filling our building permit and we have finalized our design for the units. Please see the attached plans. The team is finishing interviews with General Contractors (GCs) and has come down to the final five GCs that will be allowed to bid on the project. Additionally included are visuals for the sidewalk shed and a rendering for the website. 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 EFTA01080936 0. No Wotan.. 1.1mj Cr4vrn "Ns Iell flx. groin aa.o.ne 7o.3 dgto lAn, at a or ..45t 4204:v wao ind an. apeaaNW Ponitoss. THE PARK MANSION /8•11,0),./t, FOR NOURIES PLEASE CONTACT GREG WILLIAMSON AND JAMIE MITCHELL T 212 7126088 10' SIDE PANEL Uliwicion,L uu PARK MANSION Introducing The Park Mansion, a striking prewar condominium conversion featuring four full floor residences, one grand duplex Maisonette with dramatic outdoor space and one spectacular Penthouse. WWW.PARKMANSION.NYC 50' FRONT PANEL WiL I to.tSO ,4 Ichtdµf no The PO* lAinliert i Muhl; ts~ cambrona 0).4,0,194 lionotrj 10,411110,”..V.no,y4,14.yee. Muyntle. ,1-1 THE PARK MANSION • O s _4 X 10' SIDE PANEL 12'-4' EFTA01080937 77 TIIIIIrsr_r_r_rrr71ISSINDIIIMINIllielienlirnIOR Or II Siiii=ttrunran z1 glicinnilltiaL 7 G l ina ..6•,.-41.4.22ei railli •P anterwAttinsz cif arceti,1 1/4. •K , :41:7lif4dlireilligyorearralra likinti: ,. 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O r- I I MICOEFBURHINCI FIREPLACE L./Inc nom 25-2 lax IS‘S I/2" BEDROOM 3 min 17-23/C MING ROOM IT-ITR9A• 7 ENTRY 'OYER O w/D w/D Ro GEC. DRESSING AREA CLOSET BATHROOM 3-- TC [CHIMER ROOM KITCICKETIE 0 C 0 ( 0 Rt REF. MECHANICAL ROOM LIP BRISERS M1 Y- I SEISMS oil I/2' O ilAIHRODM 0 IXOSCT V AAP. MASTER BATHROOM r At TERRACE 6TH FLOOR 320 EAST 82ND STREET I A a 201S03 CO SIXTH FLOOR PLAN 1 A-106.00 EFTA01080945 JEFFREY C_)LE ARCH ITECTS ,56E,413ISSIREE1 .- GIVJNOFICCO NEW YClbole RICOC 2,24/54,551 FM 2i2.1454554 D IH FLOOR RRAFE BELOW NEVATOR MAOIEAD ON 320 EAST 82ND STREET 2015400) S ROOF PLAN in ROOFvs - A-107.00 EFTA01080946 • EFTA01080947 EFTA01080948 c. A EFTA01080949 EFTA01080950 br— EFTA01080951 _ EFTA01080952 IN THE NEWS: US OPEN TENNIS DEFLATEGATE EUROPEAN REFUGEE CRISIS DONALD TRUMP TOM BRADY REAL ESTATE HOME SECTIONS SEARCH 0000 The Upper East Side's last affordable pocket goes luxe By Nona R. Albert( Sapeetat, 9, 2015 I 7 Sepe Take (nee% of YOC kvdle (and beyond) Iron( a poah 20 East End Ave. terrace. PI i)kp He', It's a tale (practically) as old as time. When New York City real estate thrives, home builders and buyers seek to colonize neighborhoods previously deemed undesirable. The Financial District was once the exclusive domain of nine-to-fivers; these days, every other office building is a condominium. Along the Hudson River, midtown Manhattan used to be an industrial no-man's-land of warehouses and strip clubs. No more — residential projects abound. And now the Upper East Side neighborhood dubbed Yorkville, which stretches from about 72nd to 96th streets east of Third Avenue, is ready for its turn. FOLLOW SUBSCRIBE SIGN IN auctIon •com' r [ ' New York. NY 10016 206-208 East 35th Stree 54927 14' • ABC's David Muir nicknamed 'Anchor Monster' EFTA01080953 YORKVILLE Area <y ot &Ha 944 3 lbseutta 0 ° ".3e,c. 302 E96th St I must 1 CentrilePark 4 205 &Sind% t Ones MO 4, IS0EIEMSt • baellGristedsib F.0.1 Ann 8 5$1182d S. & 225E8La I& Iconoeatys Scconi kfe.ste Ii. 20 East Wart 12. thr Chutes lbeRcseModent The area, defined by its dearth of all-glass towers and plethora of tree-lined streets, has long been a favorite for blue-bloods looking to live near prep schools and the FDR Drive — for weekend getaways out East, of course. But as both land and condo prices hit record highs, it's attracting a fresh wave of interest. More than a dozen new buildings are on the way, and with them a crop of buyers who see Yorkville as a place where apartments are a relative bargain. Yes, until the Second Avenue subway comes online in late 2016, public transportation is limited as you approach the East River. But the Q extension's imminent completion — coupled with a new Whole Foods and easy access to parks, museums, hospitals and other family-friendly perks — all mean people want in on a neighborhood in the throes of a transformation from nice 'n' quiet to construction - induced, decibel-busting busy. Extell Development sure wants a piece of the action, shelling out 4100 million for a Gristede's grocery store on 86th Street near First Avenue. (The property giant already owns at least four tenement buildings in the vicinity, and reports say it's cobbled together enough land to build something big.) Extell has also filed plans for two smaller projects on 92nd Street and Second Avenue, plus, it's already begun the foundation of a 30-story building at the corner of 95th and Third Avenue, just a block south of the boundary with East Harlem. Called The Kent, sales of 83 luxe two- to five bedroom residences in a handsome brick structure will hit the market in the fourth quarter. Talk about flooding the zone! A biker tackle:: Can Sclera ParkIseconio promenade along the East River. Note that The Kent, set for completion in the fall of 2017, is replacing a row of walk-up tenements that used to dominate their block. Similarly, Icon Realty spent less than 450 million for a comparable row on Second Avenue in the 80s, which it is demolishing n Vegas hooker inspired former Olympian to turn tricks ' I Cops wrongfully nab tennis star James Blake on way to US Open VIDEO STATE iI~!HI ill rf..1annAlla Check out the $66M 'crown jewel of Soho real estate' REAL ESTATE NEWS reattoccom• Musician Dave Stewart's House in Toluca Lake Gets the Hollywood Treatment Musician Nell Young Is Saying 'Aloha' to Compound on Hawaii's Big Island Hot in the Hollywood Hills: Amass Ali Laner Is Selling Loh-Style Home in LA. Hal of Famer Torn Glavin Selling Florida Beach Home Dean Cain's Colorado Rents Needs a Hero to Come to the Rescue MORE F ROA, EFTA01080954 with the goal of putting up a chic high-rise on the site. It's markedly cheaper than Extell's deal, in part because Icon started assembling properties in 2007. (Icon is working on a second high-rise as well as a shorter rental building in the same neck of the woods.) lust look to other data and the same trend emerges. In 2010, Yorkville's median sale price was S663,500, according to real estate listings site StrectEasy. Compare that to the first seven months of this year — it's 14 percent higher, at S757,500. But remember, the sub-market remains cheaper relative to the Upper East Side at large, which boasts a year-to-date median of 51.15 million. Get your lid of brats andglass boots of WarsteWer at HendeRerg. Despite the building boom, some low-rises remain, housing institutions, such as German butcher Schaller & Weber and beer garden I leidelberg, that arc vestiges of centuries past when Yorkville was an immigrant enclave. Schaller &Weber owner Ralph Schaller happily holding his WOSSYSIII. Let's hope they can hang on: Even more small buildings were razed to make way for star architecture firm SlloP (of Barclays Center fame) to design a tower of 83 condos with Anbau Enterprises at the corner of 89th Street and First Avenue. The building, dubbed Citizen360 because its height will afford many residents an all-around view of NOW ON Psixne a Justin Timberlake shows off son, Silas Docs don't have to admit wrongdoing in Rivers' death: judge John Slattery drops 51,600 at NYC art fair SEE ALL — NOW ON DECIDER Afea • • 'el lirSsiOtball Comedy 'The , League' Was Mocking Bro Culture Before It Was Cool SEE ALL Run your business anytime. Track sales & expensesiii CB Get paid faster V Rum payroll dek 'mud OuckBooks Try it Free ) EFTA01080955 the neighborhood, will have 6,000 square feet of amenity space that ranges from music rehearsal and art rooms to a gym and children's play area. Apartments go on sale this fall, with pricing in the 51.3 million to over-5,12 million ballpark. Thelate% readent% roe skysetorfoing Ornzen360. "The site was highly undervalued because it was so far east, and there were no good transportation links, and people just weren't interested or willing to go there. But we saw opportunity," says Barbara van Beuren, Anbau's managing director. "I think the absolute prices are manageable. This is not a building full of 510 million apartments?' Still, it points to a future far more expensive than the current data shows. Just one block from 113-year-old lowish bakery Glaser's, which churns out delicious black-and-white cookies, Citizen360's shimmery facade will rise 410 feet above street level. But trumping them all will be DDG's under-construction goliath on IS0 E. 88th St. At 521 feet, it will be the tallest structure on the Upper East Side north of 72nd Street. Its 48 apartments with 16- foot ceilings and custom lobby amvork launch sales this fall, with two-beds starting from 53.4 million, three- beds from 54.5 million and four-beds from 57 million. It's not all about living among the clouds, though. Michael president of Michael Paul Enterprises, oversaw the overhaul of two smallish rental buildings east of Third Avenue into boutique luxury projects. "They were prime locations for condominiums catering to families," says of the projects, 225 E. 81st St. (a.k.a The Justin) and 554 E. 82nd St., which have nine apartments between them. "They arc three or four bedroom units, with big living and dining areas with fireplaces, and they all have outdoor space:" Six have been snatched up, with asks ranging from 52.25 million for a two-bedroom to 55.99 million for a four-bedroom. iii~unit .--de654 East 82ncla Meanwhile, another rental-to-condo conversion — Carnegie Park — attracted first- time buyer Elizabeth Dean, who realized Yorkville offered more bang for her buck after house-hunting in lower Manhattan. "Originally, I wasn't going to go north of 86th Street. I didn't know what was above there,' says Dean, 29, who works in finance, paid 51,184 per square foot for her one- EFTA01080956 bedroom and loves the restaurants, bars and grocery stores that dot the area File.t.W/10 hornobuyer Elizabeth Dean in a model and at Carnegie Park. She moves into her Qum one ibedroorn soon In July, StreetEasy reports Yorkville's median price per square foot was 51,098, up 5.1 percent from the year prior and a whopping 29.8 percent from the month prior. The Upper East Side as a whole, of course, boasts a higher median: $1,694 per square foot in luly. "It'll actually be a great investment, Dean says. "Downtown is extremely pricey, and I think there's a lot more upside to the Upper East Side.' Part of Carnegie Park's makeover includes a slate of plush amenities designed by classicist Robert a Stern, the architect behind famously ritzy buildings like IS Central Park West. (The pool, the roof deck and the in- house "mini-Equinox" gym lured Dean.) Available apartments range from a 4955,000 one-bedroom to a 57.15 million penthouse. Voul be al* to drive up to 20 East End in style via its potte-oothare and motor ecurt. (The latter isdepicted in the tendering.) Stern is also working on a ground-up project at 20 East End Avenue that could pass as a setback-laden prewar, with old-school details like a porte-cochere, which allows residents to enter in a vehicle via an archway from the street and drive right up to the lobby door in a circular motor court. One of these hasn't been a part of any newly constructed building since the 1930s! About half of its 43 condos, spread across 18 stories, arc in contract from $4.49 million to 514.25 million. Still, three-fourths of New York City residents are renters, and the Upper East Side's new crop of construction has something for them, too. Related has topped out on a 36- story tower at 205 E. 92nd St., where a playground used to sit. The uber-fancy development will have a massive two-story Equinox gym and a private school for kids with language-based learning disabilities on its lower floors. EFTA01080957 The under-construction rental at 205 E. 92nd Si. The apartments above, set for completion and leasing in the spring of 2016, will have layouts that skew in favor of three- and four-bedrooms. 'There will be thermostats programmable remotely on all the A/C units, and motorized shades in some of the units,* says Bryan Cho, executive vice president at Related Companies. "From the marble bathrooms to the highly designed public spaces and the amenities, it's what's usually in condominiums." On the rental market sooner is The Rose Modem, a 20-story, 82-unit tower currently finishing up construction on York Avenue. The leasing office will open the first week of October offering "competitive' rents for a luxury building, according to Bond New York's Douglas Wagner, with move-ins slated for November and December. An wt-inrusedkitohen inside a condo at The Charles PI-ofa Evan ImaRr, Want to buy now, and move in immediately? The building most ahead of the curve is The Charles. Previously stalled after 2008's downturn, the 32-story condo at 1355 First Ave. got redesigned to emphasize large MI-floor apartments before breaking ground in 2012. And it's paid off. There are four units left out of 27 total, which started at $5.97 million. A recent sale of the top six floors to two unidentified relatives for a total of 459 million made headlines. That price? On First Avenue? EFTA01080958 First look!Onee a three-story garage.302 E. 96th St bill become a 2I-story luxury ococb. "The preconceived idea of what was considered prime and where you would build luxury has completely changed," says Jason Karadus of Town, who is director of sales for the Charles along with Ginger Brokaw. "A lot of people in the industry smirked at the pricing — about $2,500 per square foot ... Now it's not so risky, which is why you're seeing companies like Extell building up what's left to be developed up there." Every developable parcel seems to be getting snatched up. lust take a three-story garage on 302 East 96th Street, which developer Wonder Works bought in March for $24 million. On the northernmost border with Harlem, the developer plans to put up a 21-story, 48- unit "affordable luxury" condo building — basically right on the approach to the FDR. (Don't worry, the facade will have extra soundproofing.) "The Second Avenue subway station for 96th street, which will be one of the first ones opened, is just 200 feet away," says Eric Brody, Wonder Works' managing partner, who adds that brokers are recommending asking prices of S1,500 to 42,300 per square foot when units go on sale next year. "The buyer is anyone who can't afford to be in all these downtown neighborhoods, but still wants to live in the city and have incredibly close access to a train' Public transit of the future is why Andrew Ellis bought a fixer-upper on 95th Street and Second Avenue in 2013. The 31-year-old consultant paid a mere $430 per square foot for a one-bedroom garden-level duplex. Then came a massive year-long renovation that updated the windows and kitchen appliances. He also completely redid the backyard, adding a rear deck and koi pond. In Yorkville, Ellis discovered a "neighborhood feel" that was a far cry from the raucous scrum of Murray Hill, where he had been renting. "I had sort of grown out of that," says Ellis, who is no longer alone in his move uptown. "My high school friends and some college friends are migrating to the Upper East Side. One is two doors down, literally, and two others are a few blocks away. Having that subway there eventually is really what did it for me. This place can only go up." Andrew EIGs stands in As Yorkvite backyard.which he completely redid. adonis a deck (so that the outdoor space was accessible from the upstairs living room of the duplex) and a koi pond. EFTA01080959 anbau DESCRIPTION 360 East 89th Street New York, NY 360 East 89th Street is a new construction luxury condominium building located in Manhattan's Upper East Side between Carl Schurz Park on the East River and the new Second Avenue subway. The building will offer a full range of residence types. all with floor to ceiling windows. innovative kitchens. and high ceilings. Over 7.500 SF of amenity space will be available for the residents' use and an on-site. fully automated parking COMPLETION DATE SIZE Ciiflf.Di SP 771 stories UNIT MIX 83 one. two, three, four bedroom and penthouse AMENITIES doorman. gym and fitness studio. ci iildien's playroom. catering kitchen. tenant and bike storage, common laundry & automated parking facility TEAM Architect SHoP Architects Interior Designer Clodagh Design Engineers Cosentini Associates Thornton Tomasetti Marketing & Sales The Corcoran Group Creative Agency IF Studio Contractor Ryder Construction. Inc. EFTA01080960 st-antk•rrrly with nerAlion in• tor trte city Big Ticket 1355 F.trAt Avenue I MICHELL,. incur's!. Four Floors, One Apartment A three-apartment penthouse combination. ;palming the top four floor; of the Charles condo- minium at 1355 First Avenue, sold for 537.94 million and was the most expensive closed sale of the week, according to city record!. $37,940,000 I he price is the highest ever paid fora home on the Upper East Side east of Third Avenue. accord- lint to CityRealty, which tracks co- op and condo sales_ The common charges for PHI, nn 11.740-squaredoot quadruplex with 1.300 square feet of private terraces on two levels and views that extend north, south and from river to river. are 510,347 a month. Taxes are 14,04S a month, abated through 2020. The buyer, who was shielded under a limited liability company, CRE Acqutsition L.LC, created the sprawling unit by combining the original duplex penthouse. Priced at 3163 million, with the two contiguous Data beneath, one priced at SIo.Nt million and the other at 510 63 million. The three apartments. eta Boors 29 to S2, comprise a gairrn rooms and t2 and Ala, bath-*AV it C. bO TI• MI.. -4* 1335 First Avenue rooms But acconlinx to a publi- cist for the Charles, t he buyer. who is American. IS c reating a custom configunition with 12-foot ceding& and a pnvate elevator. "It's like having a townhouse, but with views and (hr ;civic es of an ultraluxury condominium." said R. Ramin Kander, the chief executive of Bluerock Real Estate, which is des-eloping the propel with the Victor Group. The buyers were represented by Beth Benalloid of the Corcoran Group, who declined to comment The Charles, a 27-unit glass- ancl-limm one condommiam de- signed by Ismael Uryva. is on Ant Avenue between 72nd and nrd streets. a neighborhood with more tenement style walk 11 tic and postwar high-rises than ritzy townhouses and luxury condos. 'There was always a line of de- lineation; stud Ginger Brokaw. an associate broker with Town New Development, who * handling sakes at the Charles with Jason Rands*. also of Town. - West of Third was considered better than rmything east of Third." But now, 'with the Second Avenue subway underway. she said. there has been `a shift in luxury commer cal and residential real estate to- ward the East River." Units st the Charles have eat-u• kitchens with Miele and Sub-Zerc appliances. soundproofing comp( rents like under-floor padding, and master bedroom suites with dresstint areas, walk-in closets and marble soaking tubs. Intend finishes, designed by David Col- lins Studio, include white oak an marble floors. Budding amenities include a children's lounge, private sierra) a fitness center. a game room at 24-hour dcMrmen and Concierge Five MI-floor four-bedrooms at still for sale from $6.58 million tp 59.88 million Rig Ticket includes closed sa (ruin the previous week, riktir4 ‘Vednesday. • EFTA01080961