565 Broome SoHo – Sponsor Equity, Mixed Use, Manhattan, Under Construction

In January 2014, HREV structured, financed, and closed on the $152M acquisition of a large scale, multi-parcel site assembly in the newly rezoned Hudson Square area of Lower Manhattan. HREV led the transaction after initially engaging with a group that had secured purchase contracts at an attractive basis for a majority of the properties comprising the assemblage. HREV is the co-developer of the 290’ tall mixed-use development, marketed as 565 Broome Soho (www.565broomesoho.com). Designed by Renzo Piano, the building will feature two 25-story towers and include 115 condos, approximately 26,000 SF of retail space and up to 40 automated parking spaces.

270 Waverly Avenue- Sponsor Equity/Distressed Asset Purchase, Multifamily Residential, Mamaroneck, Under Construction

in the Village of Mamaroneck, is a 100-unit transit oriented multifamily residential development just steps from the Mamaroneck Metro North train station. In December 2012, HREV joint ventured with the Rosen Development Group and acquired the 2.7-acre development site out of bankruptcy with site plan approval in place. HREV worked through an extensive pre-development period to clean up the former junk yard, and worked with the Army Corps of Engineers to mitigate flood issues on site. Total development costs amount to $38MM, with HREV securing a $25MM construction loan from Principal Financial Group. Construction at the property commenced in Q2 2017, with an estimated delivery in Q4 2018.

Marketed as “The Mason M.V.S”, the property will offer a mix of studios, one and two bedroom units; along with four townhome units for rent. HREV is working with local architecture firm, Papp Architects, with interiors by The Stephan B Jacobs group, and amenity design by The Meshberg Group. The building will offer extensive amenities designed around the transit-oriented, work/live lifestyle.

331 East Houston Street- Sponsor Equity, Multifamily Residential Rental, Manhattan, Realized

a 13-story, 78-unit, 63,000 square foot luxury rental building located in the heart of the emerging Lower East Side neighborhood. In June 2012 HREV joint ventured with SMA Equities and Lynk Holdings in the acquisition of an 8,000 SF land assemblage. SMA/Lynk had put the parcels under contract at an attractive land basis and needed an experienced Sponsor/Developer to develop the project. Total development costs amount to $42.3MM, with sponsorship securing $26.8MM in construction financing from Santander Bank.

Marketed as “Jones l.e.s.” (jonesles.com), the property offers a mix of studios, one, two, and three bedroom units. The building also offers amenities typical of Class A buildings, including 24-hour doorman service, a 2-floor resident lounge, bicycle storage, fitness center, a private courtyard at ground level, a landscaped roof deck, a barbecue area, and a movie screening area. The building has been well received and is 100% leased at rents exceeding original underwriting. HREV successfully realized its investment and sold the property for $61.5MM in Q3 2017.

Eastern Parkway – Equity, Mixed Use, Brooklyn, Realized

HREV made an equity investment in a 63-unit residential condominium project in Prospect Heights, Brooklyn in the second quarter of 2012. The site is located at the foot of a subway stop with a ground floor retail component. With a capital structure in place, the Sponsor developed an 8-story mixed-use building consisting of 63 residential rental units (56,727 NSF) and 3 commercial units. The Property was sold in 2016

Holland Park –Sponsor Equity/ Distressed Note Purchase, Mixed-Use Rental, Jersey City, Realized

HREV and an investment partner acquired the defaulted mortgage notes on a 3-acre transit-oriented development site in Jersey City, NJ. The notes were purchased in a discounted payoff (DPO) and full control of the site was secured during the second quarter of 2012. The site represents the gateway location in the last remaining undeveloped neighborhood along the Jersey City/Hoboken Waterfront. The Hudson-Bergan light rail line passes adjacent to the site with plans for a commuter station within the development affording connections to the Path system and Jersey Transit rail. The as-of-right zoning yields maximum density of 670,000 SF configured as mixed use residential, office, hotel and retail The site was sold in 2017 at a significant profit