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The Mitsui Fudosan Group’s First Rental Residential Apartment Building in the US Completed
Acceptance of Resident Applications for 160 Madison Avenue in New York City Begin

October 1, 2015
Mitsui Fudosan Co., Ltd.

Mitsui Fudosan Co., Ltd. (Head Office, Nihonbashi-Muromachi 2-chome, Chuo-ku, Tokyo) announced today through its US subsidiary, Mitsui Fudosan America, Inc. (Representative: John Westerfield), that it completed the construction of 160 Madison Avenue, the Group’s first rental residential apartment building in the United States. At the same time, the Group has begun accepting resident applications for the residential apartments in Manhattan, New York City. Apart from this building, the Group agreed this year to participate in the development of three other rental residential apartment buildings in the United States. The construction of those buildings in New York City, San Francisco, and Seattle is scheduled successively for completion from 2016 through 2017.

160 Madison Avenue is located in Midtown Manhattan with convenient transportation access to three subway lines; within five minutes’ walk from the 33rd Street Station and the 34th Street/Hudson Square Station. The building is only one block away from the Empire State Building and within 500 meters of Macy’s, and Lord & Taylor; two iconic department stores in the United States. It is also close to parks New Yorkers go to relax, such as Bryant Park and Madison Square Park. This so-called NOMAD (North of Madison Square) area is very convenient to live in, and has recently been developing as an area popular among young adults with a high concentration of sophisticated bars, restaurants and shops.

With 318 rental units housed in 42 floors above ground, 160 Madison Avenue is the fairly rare rental residential apartment tower to be built in its vicinity. The tower, clad with a wraparound glass curtain wall exterior, was developed with businesspersons in their 20s and 30s working in Manhattan as the main target. The tower features various common facilities including a lounge on the top floor and a roof-top terrace, which take advantage of the building’s great view of New York City in all directions, as well as a sports gym on the second floor and tranquil green spaces.

160 Madison Avenue was developed jointly in partnership with J.D. Carlisle Development, a local real estate developer excelling in housing development in the New York area, and DLJ Real Estate Capital Partners, a real estate investment fund.

Perspective drawing of the completed building

Perspective drawing of the lounge on the top floor

Perspective drawing of the 2nd floor green space

The Mitsui Fudosan Group has positioned overseas business as one of its growth areas. Under “Innovation 2017 stage II,” the Group’s mid-term business plan through to FY2017 announced in May 2015, the Group is planning to execute investments of approximately ¥550 billion in Europe, the USA, and Asia fromFY2015 to FY2017. In the United States, the Group is involved in numerous multi-purpose development projects, such as the 55 Hudson Yards (tentative name) project in Manhattan, New York City, which was announced in January 2015. In the housing development business, in particular, Mitsui Fudosan will continue to supply dwellings with high added value in response to robust US demand for urban housing.
In addition to New York City, Washington DC, and San Francisco where the Group has been operating, Mitsui Fudosan is expanding its business to several new cities in the United States, and announced in February 2015 that it will be entering the market in Seattle for the first time.

Overview of 160 Madison Avenue

Location	160 Madison Avenue, New York, NY
Access	Two minutes’ walk from the subway 33rd Street Station Five minutes’ walk from the subway 34th Street/Herald
Square Station	Site area 21,500 ft2 (approximately 1,997 m2)
Gross floor area	312,400 ft2 (approximately 29,023 m2)
Rental space	258,000 ft2 (approximately 23,969 m2) *7,200 ft2 (approximately 669 m2) per standard floor
Number of rental units	318 units
Number of floors	42 floors above ground, 1 floor below ground

Maps

Click map to enlarge

Other business development in the United States
Office Building Rental Business

1. 1251 Avenue of the Americas

Location	1251 Avenue of the Americas, New York,NY
Completion	1970
Site area	99,359 ft.2 (approx. 9,231 m²)
Gross floor area	2,309,610 ft.2 (approx. 214,563 m²)
Number of floors	54 floors above ground 4 floors below ground
Main application	Offices and commercial facilities
Outline	Acquired 1986

2. Fifty Five Hudson Yards (tentative name)

Location	55 Hudson Yards, New York, NY
Completion	2018 (planned)
Site area	Approx. 40,000 ft.2 (approx. 3,700 m²)
Gross floor area	1,265,700 ft.2 (approx. 117,600 m²)
Number of floors	51 floors above ground 2 floors below ground
Main application	Offices and commercial facilities
Outline	Mitsui Fudosan to develop with joint developer from 2015

3. 527 Madison Avenue

Location	527 Madison Avenue, New York,NY
Completion	1986
Site area	11,650 ft.2 (approx. 1,082 m²)11,650 sf
Gross floor area	237,000 ft.2 (approx. 22,017 m²)
Number of floors	26 floors above ground 1 floor below ground
Main application	Offices and commercial facilities
Outline	Acquired 2008

4. Homer Building

Location	601 13th Street NW, Washington D.C
Completion	1914 (Underwent major renovations in 1990)
Site area	43,318 ft.2 (approx. 4,024 m²)
Gross floor area	610,671 ft.2 (approx. 56,731 m²)
Number of floors	12 floors above ground 5 floors below ground
Main application	Offices, commercial facilities and parking
Outline	Acquired 2012

5. 1200 17th Street

Location	1200 17th Street NW, Washington D.C
Completion	September 2014
Site area	17,013 ft.2 (approx. 1,581 m²)
Gross floor area	169,150 ft.2 (approx. 15,714 m²)
Number of floors	11 floors above ground 2 floors below ground
Main application	Offices and commercial facilities
Outline	Mitsui Fudosan developed with joint developer from 2012

6. 270 Brannan Street Development Plan (tentative name)

Location	270 Brannan Street, San Francisco, CA
Completion	Fall 2015 (planned)
Site area	37,813 ft.2 (approx. 3,513 m²)
Gross floor area	213,302 ft.2 (approx. 19,815 m²)
Number of floors	North wing 7 floors South wing 5 floors
Main application	Offices and commercial facilities
Outline	Mitsui Fudosan developed with joint developer from 2014

Residential Rental Business

1. 525 West 52nd Street (tentative name)

Location	525 West 52nd Street, New York, NY
Completion	Spring 2017 (planned)
Site area	38,100 ft2 (approx. 3,539.6 m2)
Gross floor area	444,800 ft2 (approx. 41,323.3 m²)
Number of floors	North wing: 22 floors above ground, 1 floor below ground South wing: 14 floors above ground
Main application	Rental apartments
Outline	Mitsui Fudosan developed with joint developer from 2015

2. 2nd & Pike Development Project (tentative name)

Location	1430 2nd Avenue, Seattle, WA
Completion	Fall 2017 (planned)
Site area	19,062 ft.2 (approx. 1,771 m²)
Gross floor area	Approx. 548,000 ft.2 (approx. 50,911 m²)
Number of floors	39 floors above ground 5 floors below ground
Main application	Rental apartments
Outline	Mitsui Fudosan developed with joint developer from 2015

3. 650 Indiana Street Development Project (tentative name)

Location	650 Indiana Street, San Francisco, CA
Completion	Summer 2016 (planned)
Site area	26,300 ft.2 (approx. 2,443 m²)
Gross floor area	100,600 ft.2 (approx. 9,346 m²)
Number of floors	5 floors above ground 1 floor below ground
Main application	Rental apartments
Outline	Mitsui Fudosan developed with joint developer from 2015