Onsite Leasing & Marketing Proposal

1 1 AV E N U E CONSITE LEASING & MARKETING PROPOSAL

1 1 AV E N U E CONSITE LEASING & MARKETING PROPOSAL

CONTENTS• Opening Statement• Why to Choose BOND• Confidence in Our Experience• Our Process• Creative Campaign• Leasing Campaign• Timeline• Projected Expenses• Summary

ONSITE LEASING& MARKETING PROPOSAL

ONSITE LEASING &MARKETING PROPOSALBOND New York is pleased to submit this proposalto represent BLDG Management as Exclusive OnsiteLeasing and Marketing Agent for its new residentialdevelopment at 11 Avenue C in Manhattan. In thiscapacity, BOND will use its considerable influence inthe Downtown / East Village rental market and themomentum of two decades of successful residential ac-tivity in the neighborhood to lease up the new buildingat the highest possible market rents as quickly as pos-sible. We will also save BLDG considerable expenseby leveraging our already proven, sensible, high touchbusiness model, from consultation through marketingand into the final leasing phase, all at discounted com-missions, with no consulting fees and with the invest-ment of our own capital.BOND is well-suited to bring a boutique building tomarket in a neighborhood where it is firmly establishedas a leading rental broker. The fact that the buildingis a new BLDG property makes it all the more suitable,given BOND’s role as a leading broker for BLDG’swider rental portfolio. Add these factors to BOND’sproven momentum from recent lease ups at 216 East84th Street, 14 West 69th Street and its largest prop-erty to-date at 501 East 74th Street, and the logicbecomes even clearer. As BOND continues to buildits development marketing business, representing 11Avenue C would have greater value to us than it mighthave to other development marketing companies--bothas a boutique new development and as a BLDG prop-erty. BOND would represent and promote the 44 unitswith all of the intention and detail as if it were rollingout a 300 unit high rise building!



WHY CHOOSE BOND• BOND’s long history as a star Downtown broker• Brand Content Created In-House• Rapid Turnaround and Production• No Consulting Fees• No Graphic Design Fees• No Photography or Video Fees• No Staging Fees• No Staffing Fees First 60 Days• Discounted Commission on Every Unit

CONFIDENCE IN OUR EXPERIENCE

CONFIDENCE IN OUR EXPERIENCEBOND has grown to 700 agents and five NYC locations, with a thriving, industry-leading leasingdivision as well as a robust coop and condo sales business. The firm continues to advance in the areasof development marketing, corporate relocation, investment sales, and commercial sales and leasing.BOND’s in-house creative marketing department has become an anchor for the company’s success,allowing the firm to deliver results faster and more economically than any of its competitors.BOND has firmly established itself as one of NYC’s top ten full service brokerage companies, cultivatingexclusive rental portfolios from myriad landlords and management companies, new developmentprojects, and continued leadership roles within the Real Estate Board of New York.PEOPLE IN YOUR NEIGHBORHOODToday’s East Village renter has evolved from the gritty and edgy art school types who gave the areaits most recent appeal to a broader cross section of independent, self motivated New Yorkers whoare comfortable outside the mainstream, and who will pay a premium for a blend of neighborhoodauthenticity and the personal upscale familiar comforts of home. As this southeast corner of Alphabet Citycontinues to gentrify, tenants moving in are often entrepreneurial, freelance or small business oriented,working in tech, media and creative fields. They prize new and polished homes offering an array ofamenities, and in this area, they will appreciate and gravitate to a new building like 11 Avenue C, aslong as its design and presentation maintain some of the non-conventional aesthetic for which the EastVillage is celebrated, while bringing the top quality interiors and layouts for which BLDG is known.BOND has almost two decades of experience in working with this kind of consumer, having started asa Downtown broker, and having maintained a large Downtown office for its entire history. Our agents,our leadership, and our staff frequently identify with this same group, and much of the company’s successis based on a peer level consultative practice, where the consumers feel that they are among friendswhen working with BOND.

OUR PROCESS

OUR PROCESSBOND proposes to work on 11 Avenue C in three phases: a Consulting phase, a Creative Campaignphase, and a Leasing and Marketing phase.CONSULTINGThe consulting phase begins immediately, with BOND in attendance at any remaining architecturaland interior planning meetings to provide feedback and context to inform decisions about the finaldesign elements and pricing of the apartments and the common areas of the building. BOND will furthercollaborate with BLDG and their team in resourcing examples of finishes, fixtures, furnishings, and otherdesign elements for the building, as needed. With Douglas Wagner as Director of Marketing and Leasingfor the project, and BLDG’s’ primary contact point, BOND will remain available as necessary to helpmove the planning phase forward and press ideas into reality.CREATIVEThe creative phase begins as soon as the firm is retained. BOND’s in-house creative team, lead byDouglas Wagner and BOND’s Director of Marketing, Bree Perlman, will develop the identity campaignfor the property in collaboration with key members of BLDG’s team. With the experience and perspectivegleaned from years of creating such campaigns, BOND will spearhead all design and creative contentas well as a full property marketing and media plan, under the guidance of and in regular discussionswith BLDG’s leadership.LEASING AND MARKETINGThe leasing and marketing phase involves execution of the media and marketing plan, staging of mod-el apartment units, and staffing and opening of a full-time leasing center within the building. BONDwill be both behind the scenes, coordinating the media, advertising and broker engagement, and outfront as liaison to customers while presenting the building and the apartments on a daily schedule.BOND’S NEW DEVELOPMENT MODELUnlike most marketing and leasing agencies, BOND does not charge a premium for its consulting andplanning contributions. We also invest in our own full-time staff, who produce the kind of quality designwork that outside vendors charge small fortunes to produce. We stake our own success on our dedicated,results-driven performance in creating distinctive campaigns which identify tenants for the property andsecure leases for the owner. BOND is compensated only for our results, on commission from the rentals.In the nascent phases, BOND will work with BLDG without charge to implement a brand identity forthe project and to create a marketing campaign around that identity which will bring the building to lifein the hearts and minds of Downtown New Yorkers along with those who strive to become DowntownNew Yorkers. BOND will produce a full identity package by our in-house creative department. BOND’sabilities and expertise span from interactive to design to media to content to social, all under one roof.

C R E AT I V EC A M PA I G N

BOND’s Creative Team will be responsible for the creation of a comprehensive StyleGuide for 11 Avenue C. The elements of this Style Guide will manifest within all of thebelow marketing tools: Logo / Building Name Building Lifestyle Brand Website Design CRM (Customer Relationship Management) Collateral Materials will include: Show Books / Brochures Branded Business Cards Neighborhood Information Floor Plans (based on Architect’s files) Interior and Exterior Building Signage Interior Directional Signage Design and Setup of the Property’s: Leasing Center Model Apartment Staging Ad Design for insertion ads, eblasts, etc. Online Apartment Ads Print Advertising (if any)Although BOND will design the visual, graphic and technical presentation of the website, an expertthird-party vendor recommended by BOND will be engaged by the developer to code and build theactual site.



TRADITIONAL MEDIABOND’s public relations team will place strategic pitches for stories related to the project, developer,and neighborhood benefits in New York area industry and lifestyle periodicals including the NY Times,New York Magazine, the New Yorker, Luxury Listings, the Real Deal, Curbed, Time Out NY (appealingto a younger / upward financially mobile demographic), and other real estate and lifestyle blogs whichcontinue to publish when the project is nearing completion.ADVERTISINGBOND knows from experience that over 90% of prospective customers come from internet sources.Should BLDG wish to place print advertising in newspapers or magazines, BOND will coordinate the adinsertions using its agency discount, which will be passed along to the owners to save on print ad rates.SOCIAL MEDIAThe property will be regularly featured on BOND’s social media platforms including Facebook, Twitter,Instagram, and LinkedIn. Regular updates, live streaming events, tweets, video posts, and blog posts willserve to create an ongoing story around the character of the property within the minds of the building’saudience.WEBSITELong before an apartment is ever shown to a live customer, BOND will design and build a dedicatedwebsite for the promotion of 11 Ave C. The design elements of the site would mirror the specificarchitectural features of the new building, and it would focus on celebrating a luxurious urban lifestyleon the edge in an iconic Downtown neighborhood. The site will feature static pages with large, highresolution photographs of the neighborhood, digital images provided by the architects, individual unitfloor plans, and ancillary original video content provided by BOND.Visitors to the website will be inspired by the images and descriptions of the building, the apartments,and an up-to-date map of the neighborhood, including all of the appealing lifestyle attractions that will beup and running by the time the building is ready to launch. This will create enthusiasm and anticipationfor the Leasing phase.The website will capture contact information from prospective customers through a contact form whichvisitors may utilize to schedule viewings, complete applications, and share information about the propertywith their own social media networks.



BOND will curate a list of enthusiastic prospects, and we will provide people on this list with an opportunityfor an exclusive preview of the property before apartments are released to the open market, which willmagnify the early buzz and allow for pre-leasing to this subset of customers.In addition to listing the apartments at 11 Avenue C on bondnewyork.com and the building’s dedicatedwebsite, online advertisements will further be syndicated to the following online real estate marketplaces:​StreetEasy ListingForce ​Hotpads Rent Hop Zillow Apartable Acme Rentals Trulia Apartments.com Nestio Tenant.com Naked Apartments New York Times Online Juwai LiveLovely Realtor.comSamaki Padlister Apartment List MyApartments Rent.com BrokerLoop Craiglist RentalHomesPlus IB TimeBy the time the project is ready to launch, this group of sites will likely be expanded, and BOND’ssyndication to additional online platforms can be easily scaled up to target the wider marketplace.BOND’s creative team will design each page of the website, and we will outsource the building of thesite to expert website developers. BOND has been working with a web developer overseas to createsites for half the expense of local web builders.Although BOND’s design of the website is free, we would recommend a construction budget of $10,000to $12,000 for the website, depending on the complexity of the site. The website will remain the propertyof BLDG once the lease up has completed.



DISPLAYS IN BOND OFFICESBOND will create original, visually-attractive displays about 11 Avenue C in the highly trafficked lobbiesof our Union Square and Columbus Circle offices, as well as street-level window displays which will beon view at our Upper East Side, Upper Manhattan, and Chelsea storefront windows.OPENING RECEPTIONBOND will host a well-publicized and highly-anticipated launch party event once model units are preparedand the Leasing Center is ready to open. Guests will include cooperating brokers, customers, BLDGinvitees, select BOND agents, influential industry trend setters, and the media.COOPERATING BROKERSBOND will share available listings will all members of REBNY via the RLS. Not every broker willindependently know about the new building, but every broker knows BOND, and BOND streamlinesdistribution of available listings to a network of over 570 participating brokerage firms composed of over20,000 active agents. Cooperating brokers would schedule appointments through the leasing center,and BOND’s onsite leasing agents will present the property to cooperating agents and their customers,maximizing exposure and leasing opportunities for BLDG and its new property across the industry.SIGNAGETogether with the developer’s and contractor’s teams, BOND will design and create banners and signageto hang on the outside of the building which embody the look and feel of the identity campaign we havedeveloped.BOND’s creative team can also be responsible for designing interior directional signage, which willcorrespond with the property’s Style Guide identity package, at no additional cost. High resolution files ofapproved designs will be forwarded to the owner’s sign maker, as needed, for production in coordinationwith BLDG’s construction and project management.ANALYTICSThrough our own proprietary data analysis software system, BOND is able to track advertising responsesfor 11 Avenue C. We are able to monitor daily which customers have responded to which ads, andfrom which search engines or referring websites the most customers have been generated.Subsequently, BOND is able to calibrate its daily advertising budget and respond strategically to favorthose online markets that generate the most customer leads. No time or resources are wasted advertisingon sites that do not draw leads. Analysis reports and real-time statistics are available to be shared withthe owners.

LEASINGC A M PA I G N

The Leasing Campaign begins subsequent to the Creative Campaign, and it is based on providingease and efficiency for consumers to view, apply for, be approved for and sign leases.The Leasing Campaign begins subsequent to the Creative Campaign, and it is based on providing easeand efficiency for consumers to view, apply for, be approved for and sign leases.BOND will provide dedicated onsite staffing at 11 Avenue C so that viewing access can be providedseven days a week. A Leasing Center will be open daily during times that most customers will want tovisit the building. Given the location, the best hours are likely to be afternoon and early evenings onweekdays and daytime hours which highlight and bookend open house times on weekends. As inventorydwindles, the schedule and staffing may also be reduced and tailored to consumer demand.BOND will style and stage two apartments, to be provided by ownership, as model units. Additionally,a larger apartment will be used as a leasing center for welcoming customers, holding lease signings,and coordinating application submission along with other administrative tasks.BOND will provide the design, research, and legwork necessary to assemble all of the furnishings andaccessories for the model units. BLDG will provide a budget and funds for the actual furnishings andaccessories to be used. If furniture is purchased (which is more economically sensible in most cases),some of the contents may be sold to tenants at the end of the initial Leasing Campaign. BOND wouldrecommend a budget of $7,500 for a studio staging, $10,000 for a one bedroom staging, and $12,500for a two bedroom staging in order to achieve the interior design and lifestyle profile that the projectaspires to portray. All pricing will be transparent and BOND will not accept markups on any furnishingspurchased on behalf of BLDG.Within the Leasing Center, there will be a dedicated team of leasing agents as well as at least oneprimary administrator, who will be charged with the processing of applications and lease preparation.The team will be paid a combination of hourly wage plus commission based on their productivity. Theentire team will report to Douglas Wagner for training and daily direction. It has been proven effectiveto have one or two agents on duty during slower times and up to three agents available during peakcustomer traffic times, including during weekend open houses. Staffing levels will also vary based onavailable inventory.Onsite leasing agents will be compensated by a combination of hourly wage and commission. BONDwill pay the salaries of the leasing and administrative staff for the first two months of the leasing campaign,after which time the hourly wages for the staff would be paid by BLDG. Hourly wages on our othercurrent projects are $20 per hour per agent. BOND will pay the agents’ commissions for the durationof the lease up. Currently, commissions of approximately $200 for a studio, $300 for a one bedroomand $400 for a two bedroom are being paid on other active, ongoing BOND leasing projects.

BOND will welcome walk-in visitors during regularly-scheduled Leasing Office hours, and other customerswill make appointments online or by calling ahead toschedule a private tour. The administrator or a leasingagent will confirm appointments and log the customer’sinformation into a customer database, including that of co-brokers and their customers. Maintaining this informationwill allow agents to follow up after appointments, interactwith prospective renters, and keep clear records ofcustomers’ interest and levels of engagement with theproperty.In BOND’s experience, after viewing model units,customers most frequently want to see the actual unit forwhich they might apply. With the owners’ consent (andonce safe to do so), BOND agents will lead customersthrough the building to show actual apartments so thatcustomers can experience the spaces, light, exposure,and views of their new home, and feel the comfort andappeal of the building community. Customers will alsobe introduced to any amenities, including the residents’lounge, fitness center, and common outdoor spaces asthey become available.Prior to the building’s receipt of the TCO, BOND willrequire all visitors to the property to execute an InspectionRelease which indemnifies both BLDG and BOND beforetouring the building.When customers are ready to apply for an apartment,the showing agent will present them with the leaseapplication and requisite paperwork requirements andassist them in completing the forms and organizing thesupporting documents, all before the customer leaves.BOND will coordinate the collection of paperwork andfunds, per BLDG’s rules and application protocol.

BOND RELOCATIONBOND has exclusive NYC representation of the largest third-party corporate relocation network in theworld, Cartus. Corporate clients and employers throughout the Tri-State area also rely on BOND to findhomes for their relocating staff and executive team as well as new hires establishing themselves in theCity. BOND’s Relocation Department provides access to highly vetted, exceptionally-qualified, and well-heeled renters from across the country and around the world. 11 Avenue C would be marketed directlyto these customers through their own human resources divisions and via our global relocation network toprovide the most financially qualified and professionally established tenants to the developer.THE BOND IN-HOUSE ADVANTAGEWith 700 active real estate agents working within our full-service brokerage, 11 Avenue C will reach atremendous audience when BOND agents share the building with their personal spheres of influence andactive customer rosters. Any BOND agent may invite a qualified customer directly to the Leasing Centerwithout any concern about access or having to share commission, which are both great motivators foragents.BOND AND THE RLS11 Avenue C will be shared with the RLS, which now has more than 570 participating member brokeragefirms. All firms are members of REBNY (The Real Estate Board of New York), who exchange all of theirexclusive listings in real time among over 20,000 licensed professional agents in NYC. There is nowa digital feed established throughout the RLS so that listing updates and availability status changes areelectronically reflected in real time to the other participating members. As such, everyone is up to dateand on the same page to maximize the efficiency of our coordinated lease-up.The Leasing Center will also host broker-focused tours for specific firms which have high levels of rentalactivity, and BOND will invite RLS colleagues to the launch event and special open houses. BONDwould welcome and encourage broker / agent preview tours, and we will continue to maintain andgrow our constructive rapport with our colleagues from all qualified brokerage companies to maximizethe development’s exposure. Branded collateral materials including brochures and floor plans will beoffered to co-brokers as well.It will be particularly beneficial to BLDG that Douglas Wagner is an established leader at REBNY, wherehe has chaired the Residential Rental Committee for more than a decade and a half, holds a seat on theBoard of the RLS, and has previously served as a governor of the Real Estate Board.

TIMELINE EXPENSESFrom the time we are retained, BOND will become a fully-invested partner, working to document the buildingprocess and pique the public’s curiosity about the project. If authorized, our video team will capture the lateconstruction into apartment finishing phases, which we will share across our social media channels to engagethe surrounding community and increase enthusiasm and anticipation of completion. As amenities and otherfeatures come online and are ready to share, BOND will work as the clearinghouse for all communications.Our public relations team will also share the content with industry media, upon the consent of the owners.BOND will become BLDG’s comprehensive full-service media agent for 11 Avenue C.SIX MONTHS BEFORE MOVE-INBOND will begin its active campaign to establish the newly-created identity for the building among New Yorkrenters. At this phase, our graphics team will have already created and BLDG will have approved the logo,look, and feel for the building; and BOND will launch the landing page for the building’s website announcingleasing for the anticipated move-in month.FOUR MONTHS BEFORE MOVE-INWith all collateral materials prepared and the Style Guide featuring all logos, color story, floor plans, andbrochures designed, BOND will also launch the dedicated website for 11 Avenue C.

THREE MONTHS BEFORE MOVE-INBOND, with approval from ownership, will make assignments of onsite leasing agents and any otherstaff members to work in the Leasing Center for the leasing campaign. Presuming that model units can bedelivered early for staging, BOND will coordinate furnishing and decorating of the staged model units.Ownership will have final approval of staged model units, as always.TWO MONTHS BEFORE MOVE-INThe Leasing Campaign begins with a high-impact, front-loaded media blitz. With the owners’ noticethat apartments may be shown for a confident future lease start date, BOND will staff the building dailyand begin showing apartments along with processing rental applications.Showing hours would be coordinated around construction crew hours in the early phases for safety andto reduce overall building traffic. The Leasing Campaign would continue daily until all of the apartmentsare committed. The goal for this commitment level would be 12 to 14 weeks from launch, providedunits are consistently ready for occupancy according to the predicted schedule.ONE MONTH BEFORE MOVE-INIn addition to the ongoing Leasing Campaign, BOND will begin to schedule and coordinate new tenantmove-ins in collaboration with BLDG’s leasing department. A second wave of media content will belaunched, and BOND’s PR team will place 11 Avenue C in local and industry news, shelter and lifestyleperiodicals, as well as online blogs and websites.



BOND would cover the costs of the following marketing initiatives: Branding / Logo / Graphic Design $ 5,000.00 Website Design (excluding construction) $ 7,000.00 Photography $ 3,000.00 Video $ 3,000.00 Leasing Management Software & Data Management $ 5,000.00 Staffing Leasing Center for first 60 days $11,500.00 Agent Commissions $14,500.00 Total Projected BOND expenses $49,000.00PROJECTED EXPENSESBased on BOND’s low commission rate, the following marketing expenses would be paid byBLDG Management: Production of Brochures, Floor Plans, Collateral $ 4,500.00 Signage / Building Banners $ 8,000.00 Website Coding and Construction $12,000.00 Website Hosting $ 300.00 Online Banner Advertising (optional) $20,000.00 Leasing Center Office Supplies & Expenses $ 4,000.00 Movers / Transportation / Deliveries $ 1,000.00 Staffing Leasing Center (after 60 days) $10,000.00 Furniture for Model Units $20,000.00 Opening Reception Launch Event $ 3,500.00 Total Projected Expenses $83,300.00

BROKERFEES

BROKER FEESBOND recommends marketing the property as “No Fee” to tenants for the initial lease up. ProvidedOwner assumes the marketing expenses enumerated above --For every apartment BOND should rent directly to a consumer, involving no outside broker, Owner wouldpay BOND a commission equal to 75% of one month’s rent.For every apartment BOND should rent with the cooperation of an outside broker, Owner will pay BONDa commission equal to 50 percent of one month’s rent as well as pay the outside broker a commissionequal to one month’s rent. (The need for OP commissions or other landlord concessions will be moreevident closer to the actual time of the Leasing Campaign, based on future market conditions.)ALTERNATELY, BOND would assume all marketing expenses herein if Owner pays one month’s rent forevery apartment rented directly and 50% of one month’s rent plus one month to the outside broker onany co-brokered transactions.SUMMARYBOND has become a skilled partner for developers who are bringing new projects to market. Fromplanning and branding through showing and closing, we are a formidable ally in getting a new building tomeet its goals. As the company continues to grow, this is an opportune time for BLDG to take advantageof our considerable experience and talent, because our plate is not yet full. Unlike so many developmentmarketing companies who will take on as many properties as they can apply their model to, BONDwill tailor a distinct model that will reflect the quality of the project without biting off more than we canhandle. Here is the opportunity to engage a full service creative, marketing, branding and leasingcompany who will surpass all of the other companies in its capital investment as well as in its resourcesof time, talent and expertise.As BLDG Management proceeds with construction of 11 Avenue C, there is no more opportune time toengage BOND New York as its partner and collaborator to streamline, energize, and make the most ofthe entire project from now until the last apartment is rented.© 2017 BOND New York. All material presented herein is intended for information purposes only. While information is believed to be correct, it is represented subject to errors, omissions, changes, orwithdrawals without notice. BOND New York is a broker that supports Equal Housing Opportunity. BONDNewYork.com