140 Lexington Avenue New York,NY Written Analysis

JJR Development 140 Lexington Avenue New York, NY 10016
Table of Contents
• Executive Summary
• Subject Property Maps
• Property Information
• Demographics 10016
• Employment & Economic Data
• Consumer Spending Outlook & Amenities
• Best Retail Businesses: New York, NY 10016
• Development
• Zoning Analysis
• Transportation
• Target Market
• Home Value Comparisons
• 10016 Market Research
• Capital Stack Diagram
• Financial Assumptions
• Sources & Uses of Capital, Pro Forma P&L
• Proposed Construction Schedule/Gantt Chart
• Strengths & Risk Assessment
Nicole Myrie REALTOR®
COMMERCIAL PROPERTY REPORT
140 Lexington Ave, New York, NY 10016
R| a| h| sa| a| n| | B| ro| wn| e
P| r| e| s| e| n| t| e| d| | b| y
NewYorkReal Estate License: 10401325140
M| o| b| i| l| e| :| | (| 917| )| | 757| -| 1677 | O| ffi| c| e| :| | (| 516| )| | 809| -| 1000 | F| a| x| :| | (| 516| )| | 570| -| 1138 |
F| a| x| :| | (| 516| )| | 570| -| 1138
M| a| i| n| :| | n| i| c| o| l| e| .| m| y| ri| e| @| c| b| m| o| v| e| s.| c| o| m
O| ffi| c| e| :| | h| t| t| p| s:| /| /| www.| c| o| l| d| we| l| l| b| a| n| k| e| rl| u| x| u| ry| .| c| o| m| / |
B| ro| k| e| r:| | h| t| t| p| s:| /| /| n| i| c| o| l| e| m| y| ri| e| .| c| b| i| n| t| o| u| c| h| .| c| o| m| /
Coldwell Banker Realty
2119| | B| e| d| fo| r| d| | A| v| e| n| u| e
B| e| l| l| m| o| r| e, | N| Y| | 11710
Copyright 2020Realtors PropertyResource®LLC. All Rights Reserved.
Informationis not guaranteed. Equal Housing Opportunity. 10/25/2020

EXECUTIVE SUMMARY
JJR Development team is looking to acquire new commercial property in NYC. The purpose of
this business plan is to raise roughly $16,000,000 for the development of 140 Lexington
Avenue. The Real Estate Developer, JJR Development is a New York-based corporation that will
provide real estate development and rental services to customers in its targeted market 10016.
Nicole Myrie REALTOR®
COMMERCIAL PROPERTY REPORT
R| a| h| sa| a| n| | B| ro| wn| e
P| r| e| s| e| n| t| e| d| | b| y
NewYorkReal Estate License: 10401325140
M| o| b| i| l| e| :| | (| 917| )| | 757| -| 1677 | O| ffi| c| e| :| | (| 516| )| | 809| -| 1000 | F| a| x| :| | (| 516| )| | 570| -| 1138 |
F| a| x| :| | (| 516| )| | 570| -| 1138
M| a| i| n| :| | n| i| c| o| l| e| .| m| y| ri| e| @| c| b| m| o| v| e| s.| c| o| m
O| ffi| c| e| :| | h| t| t| p| s:| /| /| www.| c| o| l| d| we| l| l| b| a| n| k| e| rl| u| x| u| ry| .| c| o| m| / |
B| ro| k| e| r:| | h| t| t| p| s:| /| /| n| i| c| o| l| e| m| y| ri| e| .| c| b| i| n| t| o| u| c| h| .| c| o| m| /
Coldwell Banker Realty
2119| | B| e| d| fo| r| d| | A| v| e| n| u| e
B| e| l| l| m| o| r| e, | N| Y| | 11710

Subject Property Maps
Currently a vacant lot, 140 Lexington Avenue is a prime development site located on the
northwest corner of Lexington Avenue and East 29th Street in the Kips Bay neighborhood of
Manhattan. Featuring easy accessibility and a prime corner location with ample frontage, 140
Lexington Avenue presents investors with a premier Manhattan development opportunity.
Legend: Subject Property Legend: Subject Property
Maps
Legend: Subject Property
140 Lexington Ave, New York, NY10016

PROPERTY INFORMATION
140 Lexington Ave (Borough 1) Manhattan
Block 885 | Lot 19
Zoning District: C6-2A/ R8A Equivalent
Land Use: Parking Facilities
Lot Dimensions 24.69' x 100'
Lot Area:2,469 sq ft
FAR 6.02
Buildable Area 14,863 Sq. Ft. (Approx.)
Lot Frontage:24.69 ft
Lot Depth:100 ft
Year Built: 0
Active: 1/23/2020
List Price
$10,000,000
List Date: 1/23/2020
Exterior Details
Site Influence CORNER
Lot Size - Square Feet 2469 sq ft
Lot Size - Frontage Feet 24.7 sq ft
Lot Size - Depth Feet 100.0 sq ft
Lot Size - Acres 0.057 ac
Property Facts Public Facts Listing Facts
Property Type Retail Single Family Residence
Property Subtype Auto repair (& related), Garage Development
Lot Size 2,469 sq ft –
Lot Dimensions 2469 SF –
Extended Property Facts
This report contains data and informationthat is publicly available and/orlicensed from third
parties and is provided to you onan"as is" and "as available" basis. The informationis not
verified orguaranteed. Neitherthis report northe estimated value of a property is an
appraisalof the property. Any valuationshowninthis report has beengenerated by use of
proprietary computersoftware that assembles publicly available property records and
certainproprietary data to arrive at anapproximate estimate of a property's value. Some
portions of this report may have beenprovided by anRPRuser;RPRis not responsible for
any content provided by its users. RPRand its informationproviders shallnot be liable for
any claim orloss resulting from the content of, orerrors oromissions in, information
contained inthis report.

Demographic Info:10016
CriteriaUsedfor Analysis
Income:
Median Household Income
Age:
Median Age
PopulationStats:
Total Population
Segmentation:
1st Dominant Segment
$120,103 34.8 57,994 Laptops and Lattes
Consumer Segmentation
Life Mode Urbanization
What are the
people like that
live in this area?
Uptown Individuals
Younger, urban singleson the move
Where do people
like this usually
live?
Principal Urban Centers
Young, mobile, diverse in metrosof 2.5 + million people
Top Tapestry
Segments Laptops and Lattes Metro Renters Golden Years High Rise Renters Trendsetters
% of Households 22,201 (65.2%) 9,613 (28.2%) 776 (2.3%) 760 (2.2%) 718 (2.1%)
% of New York 438,186 (13.4%) 95,595 (2.9%) 84,508 (2.6%) 487,577 (14.9%) 284,516 (8.7%)
Lifestyle Group Uptown Individuals Uptown Individuals Senior Styles Next Wave Uptown Individuals
Urbanization Group Principal Urban
Centers
Principal Urban
Centers
Suburban Periphery Principal Urban
Centers
Principal Urban
Centers
Residence Type High-Density
Apartments
Multi-Unit Rentals Multi-Units; Single
Family
High-Rise Rentals High-Density
Apartments
Household Type Singles Singles Singles Singles Singles
Average Household Size 1.85 1.66 2.05 2.78 2.1
Median Age 36.9 31.8 51 31.2 35.5
Diversity Index 47.1 59.3 40.6 89.8 75.2
Median Household Income $93,000 $52,000 $61,000 $21,000 $51,000
Median Net Worth $70,000 $14,000 $140,000 $10,000 $16,000
Median Home Value – – $283,000 – –
Homeownership 37.9 % 20.8 % 63.7 % 3.8 % 24.9 %
Average Monthly Rent $1,830 $1,310 – $800 $1,340
Employment Professional or
Management
Professional or
Management
Professional or
Services
Services Professional, Services
or Management
Education College Degree College Degree College Degree No High School
Diploma
College Degree
Preferred Activities Support the
environment . Stay
connected via laptop,
iPad, mobile phone.
Prefer environmentally
safe products. Practice
yoga, Pilates; ski.
Travel overseas
frequently . Shop, pay
bills, trackinvestments
online.
Care for elderly
relatives. Shop at
Target, Macy's,
Marshalls.
Travel frequently
. Shop at Whole
Foods, Trader Joe's.
Financial Save for retirement Spend wageson rent Manage portfoliosof
CDs, stocks
Spend beyond their
budgets
Seekfinancial advice;
build stockportfolios
Media Listen to classic rock,
jazz, blues
Active on Facebook,
Twitter, YouTube,
LinkedIn
Watch cable TV; read
newspapers
Watch shows, movies
on HBO, Starz,
Showtime
Stay connected; prefer
texting
Vehicle Take public
transportation; walk;
bike
Take public
transportation, taxis;
walk; bike
Prefer late-model
vehicle
Take public
transportation
Choose subcompacts,
public transportation
New York, NY10016

With the median household income of $170k, and the median age of 34.8, our apartments will be
marketed to the 1st dominant segment called the “Laptops and Lattes” demographic. Consumer
segmentation shows the people that live in this area are “Uptown Individuals” younger, urban
singles on the move.
10/24/2020 140 Le i g A e P e Sha k
h :// . e ha k.c / a /P e -Re /c e / i / i _ e .h l? ke =13846&ca =/P e -Re / ec i / / c/ge e ic_ e 22/25

2019
2024 (Projected)
Total Population
Thischart showsthe total population in
an area, compared with other
geographies.
Data Source: U.S. CensusAmerican
Community Survey via Esri, 2019
Update Frequency: Annually
2019
2024 (Projected)
PopulationDensity
Thischart showsthe number of people
per square mile in an area, compared
with other geographies.
2019
2024 (Projected)
PopulationChange Since 2010
Thischart showsthe percentage change
in area'spopulation from 2010 to 2019,
compared with other geographies.
10016
Total Daytime Population
Thischart showsthe number of people
who are present in an area during normal
businesshours, including workers, and
comparesthat population to other
geographies. Daytime population isin
contrast to the "resident" population
present during evening and nighttime
hours.
New York, NY 10016: Population Comparison
10016
10016
10016
10016
New York, NY10016

Employment & Economic Data
Median Salary: $166,745
Median Age: 34.8 years
The unemployment rate is low at 5.3% in 10016 with the overall city at 13.2% in October of
2020; labor force participation is high, more than 75%. Salaries are the primary source of income
for most households, but self-employment income and investment income complement the
salaries in this market.
From the start of New York’s stay-at-home order on March 22, 2020 through the end of August,
there were 488 reported contracts signed for new condos citywide, a 40 percent drop from the
same period last year.

2019
2024 (Projected)
Average HouseholdIncome
Thischart showsthe average household
income in an area, compared with other
geographies.
2019
2024 (Projected)
MedianHouseholdIncome
Thischart showsthe median household
geographies.
2019
2024 (Projected)
Per CapitaIncome
Thischart showsper capita income in an
area, compared with other geographies.
Average Disposable Income
Thischart showsthe average disposable
geographies.
New York, NY 10016: Economic Comparison
10016
10016
10016
10016
New York, NY10016

Consumer Spending Outlook &
Amenities
Consumers in 10016 frequent bars/clubs, art galleries, museums, the theater, opera, and rock
concerts. Physical fitness is a priority, exercising at a club or other facility regularly. They also
favor organic food, purchasing groceries at higher-end markets.

Best Retail Businesses: New York, NY
10016
This chart shows the types of businesses that consumers are leaving an area to find. The business
types represented by blue bars are relatively scarce in the area, so consumers go elsewhere to
have their needs met. The beige business types are relatively plentiful in the area, meaning there
are existing competitors for the dollars that consumers spend in these categories.
Best Retail Businesses:NewYork, NY 10016
Thischart showsthe typesof businessesthat consumersare leaving an area to find. The businesstypesrepresented by blue barsare relatively scarce in the area,
so consumersgo elsewhere to have their needsmet. The beige businesstypesare relatively plentiful in the area, meaning there are existing competitorsfor the
dollarsthat consumersspend in these categories.
Data Source: Retail Marketplace via Esri, 2017
New York, NY10016

Development
1.Floor Area Ratio & Air Rights
Approved Plans: Ownership has approved plans for a 13,526 square-foot 6-story, 40-key mixed-
use building allowing developers to accelerate the process while realizing savings on
development costs.

Zoning Analysis
Currently, a vacant lot, the flexible C6-2A zoning (R8A equivalent) provides the opportunity to
develop a unique property that is ideally situated close to Grand Central Station, the Empire State
Building, and the United Nations. The C6-2A zoning (R8A equivalent) with a 6.00 commercial
FAR and 6.02 residential FAR, allows for a total of 14,863 buildable square feet, as-of-right, for
a mixed-use commercial, residential, or hotel project. Ownership has approved plans for a 20-
unit condo residential building.
Zone: C62A, R8A residential equivalent
Tax Map: 24.69’ x 100’
Lot Area: 2,469 SQ FT Approximately
Community Board: 5 Manhattan
Zoning Regulations
C62A. FAR=6.0
R8A residential equivalent. FAR=6.02
Max Floor Area:
R8A: 2,469 sf x 6.02 = 14,863 square feet
C62A: 2,469 sf x 6.00 = 14,814 square feet
Residential Lot Coverage:
R8A: 2,469 x 80%= 1,975.2 square feet
Quality Housing Density factor: 740
R8A 14,863 sf / 740= 20 UNITS MAX.
Parking required for 40% of the units
If 20 units are provided, then 7 parking spaces must be provided on
site
R8A: Max Building Height = 120’
Setbacks required: if the building is setback 50’ from street line then
no setback is required otherwise 15’ above max base height
Yard regulations
Through lot requires a rear yard equivalent of an open space on
both frontages that are at least 30’ deep.
Zoning Analysis

10/24/2020 140 Le i g A e P e Sha k
oning di ric :

10/24/2020 140 Le i g A e P e Sha k
Property Photos

Transportation
How People Get to Work
10016
• This chart shows the types of
transportation that residents of the
area use for their commute, by
percentage of an area's population.
• Data Source: U.S. Census American
• Update Frequency: Annually
10/24/2020 140 Le i g A e P e Sha k

Target Market
Who We Are
Laptops and Lattes residents are
predominantlysingle, well-educated
professionals in business, finance, legal,
computer and entertainment occupations.
Theyare affluent and partial to cityliving--
and its amenities. Neighborhoods are
denselypopulated, primarilylocated in the
cities of large metropolitan areas. Many
residents walk, bike or use public
transportation to get to work; a number
work from home. Although single
householders technicallyoutnumber
couples, this market includes a higher
proportion of partner households,
including the highest proportion of same-
sexcouples. Residents are more
interested in the stock market than the
housing market. Laptops and Lattes
residents are cosmopolitan and
connected--technologicallysavvy
consumers. Theyare active and health
conscious, and care about the
environment.
Our Neighborhood
30-something single householders, with a
number of shared households; lowaverage
household size of 1.85.
City dwellers, primarily in apartment buildings:
with 2-4 units, 5-19 units, or 20+ units.
Older housing, 2 out of 3 homesbuilt before
1970; 42%built before 1940.
Most householdsrenter occupied, with average
rent close to $1,800 monthly.
Many owner-occupied homesvalued at
$500,000+.
Majority of householdsown no vehicle at 36%
(Index 398) or 1 vehicle (41%).
Socioeconomic Traits
Three out of four have a bachelor'sdegree or
higher.
Unemployment rate islowat 5.3%; labor force
participation ishigh, more than 75%.
Salariesare the primary source of income for
most households, but self-employment income
and investment income complement the
salariesin thismarket.
These are health-consciousconsumers, who
exercise regularly and pay attention to the
nutritional value of the food they purchase.
Environmentally conscientiousbut also image-
conscious: both impact their purchasing.
Market Profile
Support environmental groups, recycle
faithfully and contribute to arts/cultural
organizations.
Invest in mutual funds(bonds) and maintain
retirement savingsplans.
Use their laptops, iPadsand mobile phones
extensively to stay connected.
Spend money on nice clothes, dining out,
travel, treatmentsat day spas, and lattesat
Starbucks.
Physical fitnessa priority, exercising at a club
or other facility on a regular basis.
Enjoy sportssuch asjogging/running, biking,
tennis, soccer, skiing, yoga and Pilates, aswell
asparticipating in fantasy sportsleagues.
Participate in leisure activitiesincluding
painting, reading booksor the newspaper on
their iPad, watching moviesrented from
Netflix, hiking, backpacking,
canoeing/kayaking, aswell asgoing to
bars/clubs, the beach, movies, art galleries,
museums, the theater, opera and rockconcerts.
Listen to classic rock, pop/top 40, classical,
jazz, reggae, blues, folkand alternative music.
Favor organic food, purchasing groceriesat
higher-end markets.
An overview of who makes up this segment across the United States
The demographic segmentation shown here can help you understand the lifestyles and life stages of consumers in a market. Data provider Esri classifies
U.S. residential neighborhoods into 67 unique market segments based on socioeconomic and demographic characteristics. Data Source: Esri 2019. Update
Frequency: Annually.
Thisisthe
#1
dominant segment
for thisarea
In thisarea
65.2%
of householdsfall
into thissegment
In the United States
1.1%
of householdsfall
into thissegment
About this segment
Laptops and Lattes
New York, NY10016

Home Value Comparison
MedianEstimatedHome Value
Thischart displaysproperty estimatesfor
an area and a subject property, where
one hasbeen selected. Estimated home
valuesare generated by a valuation
model and are not formal appraisals.
Data Source: Valuation calculations
based on public recordsand MLS sources
where licensed
Update Frequency: Monthly
12-MonthChange inMedian
EstimatedHome Value
Thischart showsthe 12-month change in
the estimated value of all homesin this
area, the county and the state. Estimated
home valuesare generated by a
valuation model and are not formal
appraisals.
Data Source: Valuation calculations
based on public recordsand MLS sources
where licensed
MedianListingPrice
Thischart displaysthe median listing
price for homesin thisarea, the county
and the state.
Data Source: On- and off-market listings
sources
12-MonthChange inMedian
ListingPrice
Thischart displaysthe 12-month change
in the median listing price of homesin
thisarea, and comparesit to the county
and state.
Data Source: On- and off-market listings
sources
New York, NY 10016: Home Value Comparison
New York, NY10016

10016 Market Research
Active
Unit Type Avg. Price Avg. PPSF Avg. Sq.Ft.
# of
Units
Studio $749,500.00 $1,425.16 523 2
1 Bedroom $997,000.00 $1,451.50 689 2
2 Bedroom $1,347,000.00 $1,202.50 1,116 2
3 Bedroom $2,272,500.00 $1,251.50 1,853 2
4 Bedroom $6,180,000.00 $2,287.50 2,589 4
5 Bedroom $10,995,000.00 $2,894.00 3,798 1
TOTAL/AVG. $3,572,846.15 $1,746.56 1,732 13
Contract Signed
# of
Units
Studio $0.00 $0.00 0 0
1 Bedroom $0.00 $0.00 0 0
2 Bedroom $0.00 $0.00 0 0
3 Bedroom $0.00 $0.00 0 0
4 Bedroom $0.00 $0.00 0 0
5 Bedroom $0.00 $0.00 0 0
TOTAL/AVG. $0.00 $0.00 0 0
Closed
# of
Units
Studio $648,333.33 $1,502.33 431 3
1 Bedroom $1,365,416.67 $1,789.67 756 3
2 Bedroom $2,682,541.67 $1,771.67 1,440 3
3 Bedroom $4,000,000.00 $1,667.00 2,304 4
4 Bedroom $0.00 $0.00 0 0
5 Bedroom $0.00 $0.00 0 0
TOTAL/AVG. $2,314,528.85 $1,681.46 1,315 13

10016 Market Research cont.

$1,425.16
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00
$500.00
$1,000.00
$1,500.00
$2,000.00
$2,500.00
$3,000.00
$3,500.00
Studio
1
Bedroom
2
Bedroom
3
Bedroom
4
Bedroom
5
Bedroom
TOTAL/AVG.
Avg. PPSF
Active
Contract Signed
Closed
19%
19%
19%
23%
16%
4%
Total Unit Mix
Studio
1 Bedroom
2 Bedroom
3 Bedroom
4 Bedroom
5 Bedroom

Capital Stack Diagram

The investment term “capital stack” is comprised of the total capital invested in a project. In
commercial real estate, these “stacks” typically include common equity, preferred equity,
mezzanine debt and senior debt. Each of these investment levels comes with its own unique risk
and rewards. Typically, higher positions in the capital stack earn higher expected returns due to
their higher risk. For our project Common Equity was provided by the general partners ensuring
we all have skin in the game.

Senior Debt
$10,104,239
Mezzanine Debt
Common Equity
$5,488,273
Pref Equity
Equity
Debt
Senior Debt-JP MORGAN-CHASE
• Senior debt is most associated with a bank
loan and it’s often the primary source of
capital in the capital stack. Chase makes
up the largest portion of the financing,
which is 60% of the purchase price, and
the holder is first in line to receive periodic
debt service payments.
Common Equity-General Partners
• As part of their agreement to finance a project, a
lender will require that the Borrower (or General
Partners) invest their own money to ensure they
have a vested interest in the success of the project.
These funds represent the common equity portion of
the capital stack and are last in line to be repaid
should the deal go bad. A common equity
investment is typically unsecured.
Capital Stack Diagram
PotentialRisk&Return
Low
High

Financial Assumptions
Land/Building Information Financing Assumptions
Property
address
140 Lexington
Avenue Construction
City New York Land draw % 76%
State NY Hard costs % 60%
Type Development LTC 65%
Tax Block Term
Tax Lot Rate 4.5%
Lot Sq Ft 2,469 Fee
Buildable 14,863 Construction Takeout
Price 10,000,000 Rate 4.5%
Closing Costs 70,000 Amortization 30
Target DSC 1.3
Construction Assumptions Fee
Hard cost/ft 277 Refinance Loan
Site Costs 56,680 Refi Year (EOY) 6
Term 24 Refi rate 5.5%
Developer's Fee 6.0% Refi Amort 30
Refi DCR 1.25
Market Assumptions Refi Fee 2%
Rent/SF 75
Loss Factor 15% Sales Assumptions
Vacancy 6% Sales Year 5
Rent
commission 6% Exit Cap 6%
Operating ratio 80% Sales Costs 6%
Rent growth 3%
Expense growth 1%
Rent Start (Yr) 2

Sources & Uses and Pro Forma P&L
Sources & Uses
Equity 5,488,273 Land & Closing 10,070,000
Construction Loan 10,104,239 Soft Costs 411,705
Other Hard Costs 4,117,051
Interest Reserve 111,160
Developer's fee 882,595
Total Sources 15,592,511 Total Uses 15,592,511

Pro Forma P&L
Operating Year 1 2 3 4 5
Gross rent 947,516 975,942 1,005,220 1,035,377 1,066,438
less vacancy 56,851 58,557 60,313 62,123 63,986
Net rent 890,665 917,385 944,907 973,254 1,002,452
Building expenses 189,503 191,398 193,312 195,245 197,198
Reserves
Commissions 56,851 3,513 3,619 3,727 3,839
Total Operating Exp 246,354 194,912 196,931 198,973 201,037
NOI 644,311 722,474 747,976 774,281 801,415
Debt Svc 620,315 620,315 620,315 620,315 620,315
Refinance proceeds 0 0 0 0 0
Net Reversion Value 0 0 0 0 4,498,746
Net Cash Flow 23,996 102,159 127,661 153,966 4,679,846

Proposed Construction ScheduleCr
ea 140 Lexington Ave Development Project
Enter Company Namein cell B2.JJR DEVELOPMENT
Enter thenameoftheProject Lead in cell B3. Enter theProject Start datein cell E3. Pooject Start: label is in cell C3.
R. BROWNE
Th
e
1
Ce
Th
is
TASK
ASSIGNED
TO
PROGRESS START END
Ce
ll
Phase 1 Project Predevelopment R. Browne
R
o
Task 1 Project Concept R. Browne 50% 5/6/20 7/5/20
Task 2 Bidding & Award R. Browne 80% 7/5/20 9/3/20
Task 3 Mobilization R. Browne 45% 9/3/20 11/2/20
Th
e
Phase 2 Construction
Task 1 SitePreparation James Phillips 50% 11/2/20 12/2/20
Task 2 Foundation / Framing James Phillips 50% 12/7/20 2/5/21
Task 3 Green RoofInstallation / Exterior Finishes James Phillips 50% 2/6/21 3/8/21
Task 4 Plumbing / Electrical / HVAC James Phillips 25% 3/9/21 6/7/21
Task 5 Insulation/Drywall James Phillips 25% 6/8/21 9/6/21
Samplephasetitleblock
Phase 3 Post Development
Task 1 Landscaping / Design James Park 15% 9/7/21 9/14/21
Task 2 Acceptance James Park 25% 9/15/21 9/22/21
Task 3 Project Closure James Park 25% 9/22/21 9/27/21
Task 4 Occupancy/ Project Marketing James Park 30% 9/28/21 10/28/21
Samplephasetitleblock
Phase 4 / Project Management
Task 1-SELL RENTAL UNITS (20) JJR DEVELOPMENT 10/29/21 4/27/22
Sun, 4/5/2020
Project Start:
Display Week:

In NYC a plethora of factors could affect a project's timeline. JJR Development believes every
project should be under the assumption that there will be unforeseen delays. In construction
project management the project concept, bidding & award, mobilization are some of the initial
stages where special care and consideration should be paid.
Even back office and project planning activities such as overhead costs, creating a project
schedule, trade sequencing, and even finalizing plans or having them reviewed require time and
funds, too.
Site work delays this year in 2020 were predominately Covid-19 related totally unforeseen by
anyone in the industry, but many things as discussed above could change a project's timeline.
Our research led us to Phase 3 which was Post Development of the structure which seemed more
economically viable. JJR Development would hold on to the rental units and manage them until
our investment returns were realized and Net Cash Flow increases.
***Financial Assumptions
Yr1. Yr2. Yr3. Yr4. Yr5.
Net Cash Flow 23,996 102,159 127,661 153,966 4,679,846

Strengths & Risk Assessment

Strengths
• The land is flat and conducive to development
• The subject property is conveniently located next to transportation.
• The project has great potential.
• Near other residential development, high quality of life.
Risks
• A downturn in the economy could continue to stagnate the rental market growth.
• Many Americans likely are looking for somewhere they can stretch their savings,
relocating to places where the cost of living is relatively lower.
• Several other successful developments operate in our territory.

140 Lexington Avenue New York,NY Written Analysis

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140 Lexington Avenue New York,NY Written Analysis