21 East 26th Street, New York, NY 10010 PROJECT SUMMARY Gross Square Feet 35,280 Net Sellable Square Feet: Retail Units 6,700 Net Sellable Square Feet: Residential Units 21,441 Net Sellable Square Feet 28,141 LAND BASIS DETERMINATION Land/Improvement Basis $13,250,000 Total Land/Improvement Basis $13,250,000 FINANCING COSTS ( re-sale of units) Building & Project Loans 79% $25,671,303 Interest Rate 13.0% SOURCES OF FUNDS • re-sale of units Equity A (Lofts21 LLC) 21.4% $7,000,000 Project Loan Financing 3.7% $1,197,747 Building Loan Financing 74.9% $24,473,556 Total Sources of Funds 100% $32,671,303 SES OF FUNDS (pre-sale of units) Cost of Land & Improvements $13,250,000 Hard, Soft, Financing & Interest Costs $19,421,303 Total Project Costs $32,671,303 RESIDUAL VALUATION Retail Units Gross Sales $7,500,000 Unit #2-4 Residential Gross Sales $29,250,000 Penthouse Residential Sale (Projected) $22,000,000 Gross Sales $58,750,000 Sales Costs (Commissions, Legal, etc.) ($3,761,566) Net Sales $54,988,434 EFTA01188863