One West End - One West End, New York, NY

SECURE LONG-TERM TENANCY
The Property is 92% leased through 2043 to leading grocery chain Morton Williams, providing reliable long-term cash flow backed by one of New York City's strongest operators.. LANDLORD-FAVORABLE LEASE TERMS
Morton Williams pays a 10% increase in base rent every five years and is responsible for a 50% pro-rata share of taxes on a net basis. Morton Williams also pays 100% of CAM increases over a base, further enhancing real returns.. RESIDENTIAL BOOM
The Property is situated at the epicenter of Lincoln Square’s new development activity, with more than 8,000 new or under-construction units within a five minute walk.. ONE WEST END
The Property is located at the base of the architecturally striking Pelli Clarke Pelli-designed One West End, a newly-completed 950,000 square foot mixed use building with 362 luxury residential units that deliver strong captive demand.. NEW CONSTRUCTION ADVANTAGE
Completed in 2018, the full-block Property provides competitively superior facilities that will require virtually no capital investment for decades to come.. ESSENTIAL USE
The Property's grocery store use is an essential service, highly resilient to economic, social, or healthcare-related disruptions.. VACANCY UPSIDE
Opportunity to lease up Retail Space A (895 sf) and Retail Space B (1,744 sf)  with the pending completion of Waterside Square's restaurant and retail offerings across the street.. 421A TAX ABATEMENT
The Property benefits from a 421a tax abatement through tax year 2039, with a 100% abatement of real estate tax expense for the next eleven years.. IDEAL 1031 OPPORTUNITY
Reliable long-term low-management investment with excellent appreciation potential, ideally suited to a 1031 buyer wishing to defer capital gains.