MBC Corporate Portfolio ABBREVIATED

Jersey City Waterfront, NJ (circa 1960)

Allentown, PA (circa 1959)

Allentown, PA (circa 1937)

EXECUTIVE SUMMARY

pages 4

OUR TEAM page 5

OUR MISSION

pages 6 - 7

DEVELOPMENT TRACK RECORD

pages 8 - 15

JERSEY CITY PROJECT OVERVIEW

pages 16 - 22

ALLENTOWN PROJECT OVERVIEW

pages 23 - 29

In 1978, Sanford Weiss, saw an opportunity for growth in Hoboken, New Jersey - a small old-industrial city located across the river from Manhattan.

Weiss began his career transforming underutilized walk-up buildings into boutique, loft-style apartment buildings.

After developing multiple successful projects in Hoboken, Weiss garnered a reputation for being a premiere “local builder”. Weiss quickly learned that his “local builder” persona gave him a unique advantage to recruit top local professionals and to navigate the legislative and political process that is unavoidable in real estate development.

As Weiss’s vision grew, his grassroots approach to development remained the mantra and backbone of his development success.

In 1994, Weiss teamed up with his development mentor, Bill Zeckendorf, and formed The Manhattan Building Company (“MBC”). At that time, MBC hired some of the top local professionals, creating a vertically integrated, design-build real estate development firm. MBC’s vertical integration gave it the ability to identity, acquire, design, entitle, build and manage mixed-use residential projects, in house.

MBC’s vertically integrated platform led to rapid growth and translated into a multi-billion-dollar project pipeline.

MBC’s massive project pipeline led Weiss to make a strategic decision to join forces with The Toll Brothers to properly capitalize the company for development of its project pipeline. Shortly thereafter, MBC and Toll created a company called City Living by Toll Brothers, which now has a market cap in excess of $3 Billions Dollars.

In 2005, Weiss took a critical step in his career and parted from The Toll Brothers venture.

Shortly thereafter, Weiss revamped MBC with top local professionals and refocused his energy on MBC. At that time, Weiss saw an opportunity for growth in an old-industrial area nestled between Hoboken’s southern-border and the Holland Tunnel. Weiss envisioned this area as an opportunity to elevate his persona from “local builder” to “neighborhood builder”. Once again, Weiss’s forward thinking proved to be successful, as SoHo West is now Jersey City’s fasting growing neighborhood.

A natural visionary, Weiss is always seeking innovation and planning for the future. For the last half-decade, Weiss has been grooming John Palumbo and Alex Wright to become the next generation of great builders, much like Zeckendorf groomed Weiss. In addition to SoHo West, Weiss, Wright and Palumbo have identified and uniquely positioned MBC to transform two additional old-industrial areas into world-class “Sub-Urban” neighborhoods – Van Vorst West and the Allentown Waterfront. With a strong Executive Team, a group of highly skilled professionals and a multi-billion-dollar project pipeline, MBC is a poised for development of its current project pipeline for the next decade.

Sanford Weiss: Founder and President MBC

Building Neighborhoods

Spacious Lofts

21st Century Safe Living “Sub-Urban” America

John Palumbo is the CLO and VP of Real Estate Development at MBC, where he plays a key role in overseeing the day-today operations of MBC’s development team. Palumbo is involved in all aspects of development, from conceptualization through completion and works directly with Weiss on all legal and regulatory issues.

Palumbo is also the Founder and President of John Michael Real Estate Holdings, a real estate development firm created for development of mixed-use residential projects in Jersey City and Allentown. Prior to joining MBC, Palumbo was an attorney at one of New Jersey’s most prominent law firms. In that role, Palumbo represented multiple private developers, municipalities and public agencies in a series of complicated redevelopment, land-use and financing related issues.

Before beginning his career as a lawyer and developer, Palumbo was named Captain and Co-MVP of Temple University’s Football Team, where he led the Owls to their first bowl victory in 30 years.

Alex Wright is the Director of Purchasing at MBC, where he oversees MBC’s day-to-day construction operations. In that role, Wright is involved in all aspects of construction, from pre-construction through project closeout. Wright works closely with MBC’s in-house development team and some of the most experienced and qualified sub- contractors in the Northeast to ensure that MBC’s projects are completed on time and under budget.

Wright is also the Founder and President of Urban Residential Properties, where he has over a decade of experience owning, developing and managing development projects in the City of Allentown. Wright's current Allentown portfolio consists of over 20 buildings totaling approximately 100 units. Wright’s local Allentown ties uniquely position MBC to attract top local professionals and to navigate the legislative and political process needed for development in Allentown.

Innovation - Integration - Implementation

MBC (through a series of entities) can acquire, design, finance, build and manage its portfolio and project pipeline in-house. MBC’s complete vertical integration translates into a more efficient and cost-effective development process. Ultimately, MBC’s vertical integration gives it the ability to develop Class A buildings at lower construction costs than its competition. With a strong team and large project pipeline, MBC is poised TO BUILD UP AND DOWN THE CYCLE for the next decade.

In-House Vertically Integrated Platform

A NEW “SUB-URBAN” LIVING EXPERIENCE

THE MODERN LIVING STANDARD

“Sub-Urban” Living is a futuristic lifestyle model. Our goal is to create self-sustaining, membership-based communities where our residents are offered an unprecedented blend of amenities, services and happenings that enrich their lifestyle. Our vision is founded on three pillars of sustainability:

1. HEALTHY LOCAL ENVIRONMENT

An integral part of our sustainability is promoting an active, healthy community comprised of an integrated mix of top-of-the-line fitness centers & spas, public green parks, community gardens and pedestrian friendly streets.

2. QUALITY OF LIFE FOR RESIDENTS

We are creating smart cities that encourage residents to live, work and play locally. We offer a curated mix of places to experience, work, dine and exercise, creating a personal oasis for our residents. Our communities are master planned to encourage a safe, healthy lifestyle.

3. ECONOMIC VITALITY

We are committed to maintaining a vibrant economy by providing local workers with construction jobs and giving small businesses and their employees opportunities to thrive being part of our Membership Based Community. Our combination of retail, restaurant and office spaces will exceed the needs of our residents and support growth and development of local small businesses.

CREATING THE “SUB-URBAN” LIVING EXPERIENCE

Location, Location, Location

The first critical piece to creating a “Sub-Urban” Living Experience is strategic acquisition of development sites in mid-size cities, with access to transit hubs, employment opportunities, entertainment and activity. If cohesively developed, these mid-sized markets can provide residents “big city access” and “suburban space,” creating an environment that embodies “the best of both worlds”.

MBC is hyper-focused on two “Sub-Urban” markets – Jersey City and Allentown -- both of which have a population of 150,000-250,000 people. Our corporate strategy is to target old-industrial areas within these markets, which can be developed into cohesive and vibrant “Sub-Urban” communities – in essence creating communities within cities.

Spacious Lofts, More Space, More Amenities

Our strategy is to build spacious loft-style apartments with access to top-of-the-line amenity spaces which meet the market demands of each location. Some site-specific amenities include “work-from-home” office space, childhood learning centers, sun drenched rooftop pool decks, fitness centers, and athletic minded outdoor spaces. The amenities are designed to keep residents comfortable at home and complement the current times. In addition, we view our integrated retail, restaurant and commercial spaces as added amenities for our residents. Each tenant is carefully selected to enhance our resident’s quality of life and to create economic vitality in the neighborhood.

As each neighborhood grows, residents are invited to experience all unparalleled amenity spaces within MBC projects in that area. Our phased development approach gradually unlocks additional common spaces to residents, offering more access than any stand-alone project could ever accommodate, while giving us a unique advantage over competition.

Additionally, each neighborhood is master planned to incorporate public green space networks and pedestrian friendly streets, further promoting an active, healthy lifestyle.

In short, master planning and developing multiple mixed-use projects in one specific area will create a luxury environment that delivers every imaginable leisure right at your fingertips. In turn, these added features will substantially grow the rents and fees from our projects.

Membership Community Experience:

Our vision is to create a Club Membership atmosphere, bringing resort-style living everyday. For example, Hudson House Club Members, which is MBC’s first true Membership Community, will enjoy access to lifestyle luxuries such as a full-service spa, saunas, a rooftop pub lounge, a full-service pool-side water club, private fitness sessions and on-site school tutors.

Each Club Member is given a membership card which entitles them to exclusive discounts everywhere within the community such as coffee shops, boutiques and entertainment spaces, further enticing them to eat, shop and indulge locally. Certain membership services are also open to the general public, providing more support for our business tenants. In turn, these added features will grow the rents and fees from our projects.

Resort-Style Hospitality:

We are bringing five-star service to our residential buildings by recruiting experienced professionals within the Hotel and Hospitality Industries. Our Hospitality Team will work in sync with City Homes and Gardens, our property management arm, who was named Management Company of the Year by the New Jersey Builders Association in 2017 and 2019.

The Team will be tasked with addressing all of our residents Club Membership needs. This is not limited to coordinating community events, such as private fitness and cooking classes, and servicing the amenity spaces such as the pool-side water club, which allows our residents to be served food and beverages while lounging poolside. In turn, these added features will grow the rents and fees from our projects.

Our goal is that our residents live their life on vacation.

Shuttle Transportation:

When residents are on the go, our in-house shuttle service allow us to meet their individual transportation needs.

In Jersey City, we shuttle our residents to transit hubs such as the Grove Street Path and Hoboken Path Station, both located within 1-mile of Van Vorst West and SoHo West, as well as provide direct shuttle service to NYC. In Allentown, our shuttle service will run directly to the 10 local colleges and universities, as well as the central business district, providing a seamless commute to and from campus and work.

Integrated Wi-Fi and Application Network:

MBC’s communities are linked by an integrated Wi-Fi network, providing our residents access to high-speed internet throughout the community. This Wi-Fi connection includes apartments, amenity spaces, elevators, restaurants, shops, public parks and pedestrian friendly streets within the community. In addition, our integrated Wi-Fi network allows us to seamlessly implement the newest technologies into our buildings.

MBC’s communities are serviced by an App Network which allows our residents to plan their life with the click of a button. Through our App Network, residents can schedule reservations for all membership activities such as fitness classes, cooking classes, spa sessions or poolside cabanas. In addition, residents can pay rent, schedule work orders and package delivers, order delivery from Membership Shops and Restaurants and track our shuttles via GPS tracking, truly embodying the “life at your fingertips” mantra of our membership based communities. In turn, these added features will grow the rents and fees from our projects.

THE CLIFFS

CAST IRON LOFTS II

CAST IRON LOFTS BEACH CLUB

SOHO LOFTS LOBBY

DEVELOPMENT TRACK RECORD

ADDITIONAL PROJECTS

City

JERSEY CITY NEIGHBORHOODS

VAN VORST WEST

Van Vorst West is a 4-block old-industrial area in Downtown Jersey City, located a stones throw from the Van Vorst Park Historic District, Jersey City’s most affluent neighborhood, having a medium household income of approximately $150,000. MBC has been designated as the Master Redeveloper of the Van Vorst West Area by the Jersey City Redevelopment Agency, paving the way for MBC to plan and develop Van Vorst West into a vibrant mixeduse community. Van Vorst West is one of the last remaining undeveloped areas in Downtown, Jersey City. Zoned for approximately 800 Units and located within close proximity to several transit hubs, employment hubs and green space networks, Van Vorst West has all of the bones for a vibrant “Sub-Urban” neighborhood. MBC anticipates Van Vorst West will take approximately 8 years to develop, in total.

Views from the future VAN VORST WEST neighborhood

SOHO WEST

Coles Park

Soho West is a new neighborhood, nestled between Southwest Hoboken and the Holland Tunnel. Spearheaded by MBC, SoHo West is the fastest growing neighborhood in Jersey City, with approximately 1200 units completed since 2011. MBC’s current project in the SoHo West neighborhood, Hudson House, is one of the last remaining development parcels needed to complete the neighborhood. Hudson House is a (4) Four Phase Project located on approximately (4) Four acres of property and totals 1100 Units. MBC is developing Coles Park concurrently with Phase 1 of Hudson House. Coles Park was inspired by a small portion of Central Park in NYC and is being designed and built by MBC’s Development Team.

HUDSON HOUSE

SOHO WEST

CLUB MEMBERSHIP PRIVIEGES

Rooftop Brewpub and Sky Lounge

High-Speed “wifi Elevators”

High-Speed wifi (including Coles Park)

Poolside Waterclub & Restaurant

Restaurants, Bars & Entertainment

Grand Piano Music Room

Lobby Coffee Bar

Pickleball Courts

Full Service Spa and Wellness Center

High-Speed “wifi-elevators”

Hair-Nail and Tanning Salon

“Work-From-Home” Office Space

Childhood Learning Center

Indoor Basketball Court and Soccer Field

Dog Grooming Station

Kids Play Room

In-Door Movie Theater

State-of-the-art Fitness Center

Golf Simulator

Salt Sauna

Access to Hudson House APP to schedule lessons, deliveries, etc.

ALLENTOWN

Pennsylvania’s 3rd Largest City

ALLENTOWN PROJECT OVERVIEW

Da Vinci Science Center

Convention Center

(Planning Stage)

PPL Center Stadium (Flyers Minor League Stadium)

Coca-Cola Park (Phillies Minor League Stadium)

COLLEGES IN CLOSE PROXIMITY:

Lehigh University

Penn State Lehigh

Lafayette University

DeSales University

Kutztown University

Muhlenberg College

Lehigh Carbon Community College

Cedar Crest College

North Hampton Community College

AIRPORTS:

Lehigh Valley International Airport

Allentown Queen City Municipal Airport

NOTABLE DOWNTOWN BUSINESS:

Starbucks

ADP (1100+ New Jobs)

JP Morgan

BB&T

CrosAmerica Partners

Lehigh Valley Health Network

LEHIGH RIVER:

PA’s only nautical river

Property located on widest portion of LeHigh River in the City of Allentown

NIZ:

One-of-a-kind Tax Incentive Program

Over $1B in development since 2011

An additional $1B planned or under construction

TheManhattanBuildingCompany.com

contacts: Sanford Weiss

Xxxx xxxx xxxx

Xxx x x xxxx x

John Palumbo

Xxxx xxxx xxxxx

Xxx x xxx x xx.

Alex Wright

Xxxx x xxxx x xx.

300 Coles Str., Suite 2 Jersey City, NJ 07301