LICQ21

An independent zoning analysis illustrates a 25-story residential tower rising approximately 255 feet. Ownership's contemplated program envisions a modern glass building with fewer than 100 residences and dedicated recreational and amenity space.

The permitted height and available zoning floor area provide substantial flexibility to optimize the building configuration, floorplates, unit mix, amenity space and overall design.

Positioned on 21st Street between Queens Plaza North and 41st Avenue, the Property is within walking distance of subway lines providing direct access throughout Manhattan, Queens and Brooklyn.

Long Island City is one of New York City's principal residential markets, supported by extensive development and absorption. Link Apartments QPN, a 417-unit development completed in 2025 just four blocks from the Property, reported no available residences as of August 2026.

The Property offers breathtaking views of Midtown Manhattan, the East River and Queensboro Bridge, with the permitted height providing an opportunity to maximize premium upper-floor exposures.

The investment opportunity combines 12.0 FAR zoning, approximately 92,532 buildable SF, substantial permitted height, Qualified Opportunity Zone treatment, 485-x tax exemption eligibility and a highly accessible Long Island City location.

The illustrative 99-unit program responds to current rental dynamics by emphasizing studios and two-bedroom residences, while reserving select upper-floor three-bedroom residences for premium exposures. The ultimate unit mix and development program remain flexible.

The Property's Opportunity Zone designation may offer meaningful federal tax benefits to a qualifying investor, depending on the timing and structure of the investment. The contemplated rental program is also eligible for a 35-year 485-x real estate tax exemption, subject to program requirements, which may further enhance the economics of a long-term residential development strategy.