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BY : TAKE TWO DEVELOPMENT (FROM MEDIA TO YOU)

BY : TAKE TWO DEVELOPMENT (FROM MEDIA TO YOU). 330 : THE FOCUS. 330.

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BY : TAKE TWO DEVELOPMENT (FROM MEDIA TO YOU)

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  1. BY : TAKE TWO DEVELOPMENT(FROM MEDIA TO YOU) 330 : THE FOCUS 330 PM JOSEPH JEMALCONCEPT & ARCHITECTURE ANDY BURNE JACKIE SIEGEL HOWARD LEE GOLNAZ FINANCE KACEY CORDES WINTHROP HOYT UDI KORE LORENZO COROLEOMARKET SUPPORT SCOTT BARNHOLT WONKYO SEO EUN KYUNG SOHN PRESENTATION AND TERM SHEET MICHAEL KAUFMAN GREG SPENCER JESSE WARK COLUMBIA UNIVERSITY

  2. DEVELOPERS FOR MORGANS HOTEL GROUP LONDON MIAMI NEW YORK INTRODUCTION CONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  3. ARE YOU BORED WITH YOUR OFFICE TENANTS? COLUMBIA UNIVERSITY

  4. TOO MANY SUITS, NOT ENOUGH GLAM? COLUMBIA UNIVERSITY

  5. WELCOME TO THE IMAGINATION DESTINATION330 : THE FOCUSA MIXED MEDIA BUILDING(OFFICE + HOTEL + RESTAURANT + RETAIL) INTRODUCTIONCONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  6. OFFICE : 330 • 142,000 SF • MEDIA TENANTS • 3 PRODUCTION STUDIOS • POST PRODUCTION / CGI STUDIO INTRODUCTIONCONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  7. HOTEL : MONDRIAN BYMORGANS HOTEL GROUP • 328 ROOMS • ROOF TOP POOL • SKY BAR • RESTAURANT • M. BUCKLEY MEMORIAL TERRACE INTRODUCTIONCONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  8. DESIGN INTRODUCTIONCONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  9. DESIGN PRODUCTION STUDIO BACK OF HOUSE RETAIL OFFICE / HOTEL LOBBY PRESS(RESTAURANT) 1ST FLOOR : PLAN / PROGRAMMING INTRODUCTIONCONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  10. DESIGN POOL AREA HOTEL LOBBY TERRACE BAR RESTAURANT M. BUCKLEY MEMORIAL TERRACE 9TH FLOOR : PLAN / PROGRAMMING INTRODUCTIONCONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  11. DESIGN HOTEL 10TH-15TH FLOOR : PLAN / PROGRAMMING INTRODUCTIONCONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  12. OCCUPANCY : 83% - 87% ADR : $330 - $600 RevPAR : $210 - $420 HOTEL MARKET COMPS Soho Grand Hotel 369 Rooms $400-$600 Modern Design Affiliations with nearby Yoga Studio and Athletic Club, for Classes and Swimming Restaurant The Mercer 75 Rooms $400-$600 Cutting-Edge 24-hour Room Service From the Mercer Kitchen Complimentary Guest Access To the Renowned Crunch Gym Marble bathrooms, many with two-person tubs TriBeCa Grand Hotel 210 Rooms $400-$600 Modern Design Atrium Bar Exclusive Malin + Goetz Bath Screening Room Spa INTRODUCTION CONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  13. OVERVIEW : OFFICE ABSORPTION : • Asking rental rate – Midtown South : $60 - $70 psf • Asking rental rate – Downtown : $41- $45 psf • Vacancy rate – Midtown South : 6.1% • Vacancy rate – Downtown : 9.1% • Class A asking rents keep increasing OFFICE MARKET COMPS COMPETITIVE PROJECTS : 375 Hudson street $ 50/sf/yr 345 Hudson street 289,000 SF $ 44/sf/yr 325 Hudson street 37,000 SF $ 42/sf/yr 155 Ave of the Amer. $ 39/sf/yr 55 Water street 93,000 SF $ 45/sf/yr INTRODUCTION CONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  14. OVERVIEW : RETAIL PRICING : • Asking rental rate – Hudson Square : $20 - $100 psf • Asking rental rate – Tribeca : $27 - $160 psf • Asking rental rate – SoHo : $40 - $280 psf • Asking rental rate – West Village : $40 - $160 psf • Retail vacancy rate – Midtown South : 7.0% • Retail vacancy rate – Downtown : 6.7% RETAIL MARKET COMPS COMPETITIVE PROJECTS : 145 Hudson street 1,600 $ 90/sf/yr 345 Hudson street 4,346 $ 70/sf/yr 426 West Broadway 3,600 $ 109/sf/yr 424 Washington St 1,565 $ 65/sf/yr 526 Hudson street 726 sf $ 160/sf/yr INTRODUCTION CONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  15. PRODUCTION STUDIO RENT : $383 SF : 4,700 OFFICE RENT : $65 SF : 142,000 HOTEL ADR : $400 ROOMS : 328 RETAIL RENT : $95 SF : 50,000 TAKE TWO DEVELOPMENT TOTAL HARD COST : $225MM TOTAL SOFT COST : $71MM TOTAL PROJECT COST : $296MM TOTAL EQUITY : $89MM TOTAL DEBT : $207MM BLENDED IRR : 14% TRINITY FIXED GROUND RENT (YR 1) : $6.5MM ANNUAL ESCALATION : 3% TERM OF LEASE : 99YRS BASE / 25YR EXT. REASSESSMENT RENT FACTOR : 6% NON REFUNDABLE PMT : $63K LEASEHOLD SECURITY DEP. : $3M PERCENT RENT : 1% - $50MM TO $59MM 2% - $60MM - $69MM 3% - $70MM + PV AT 6% : $65MM INTRODUCTIONCONCEPT MARKET MARKET COMPS DESIGN FINANCE COLUMBIA UNIVERSITY

  16. YOUR NAME IN LIGHTS

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