Property Overview 429 East 75th Street is a four story former parking facility which was acquired by Taconic in October 2006. Following the acquisition, Taconic vacated the garage tenant and is currently in the process of rehabilitating and expanding the existing building into an approximately 30,200 square foot, first class medical office facility.

Investment Strategy To take advantage of the full development potential permitted by zoning, a rooftop addition will be added. In addition to expanding the existing structure, the base building program will include demolition, renovation of the existing façade, replacement of windows, the addition of a new elevator/stairway core, installation of a new lobby, installation of new mechanical, electrical and plumbing distribution throughout the building and the creation of full floor tenant units.

The site is located in the Upper East Side's "Hospital Corridor", and offers an ideal location for the development of medical/healthcare office space in an underserved market. Numerous world-class hospitals with leading specialists in every field of medicine are located within the immediate area including New York Presbyterian, the University Hospitals of Columbia and Cornell, Lenox Hill Hospital, Memorial Sloan-Kettering Center, Mount Sinai, Rockefeller University Hospital, and Gracie Mews Hospital.

Building Amenities Strategic Location: The property is located within blocks of eight leading New York City hospitals.

Advanced Building Systems: Amenities including a gurney sized elevator and back up generator cater to the specific needs of medical office tenants.

Efficient Floor Plates: Full floor suites are easily divisible such that two separate units can be created on each floor.

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