Development Update DeLaet’s Landing, Rensselaer, NY Prepared for the City of Rensselaer, NY June 2019 Development Overview – De Laet’s Landing is a mixed use waterfront development site located in the downtown area of the City of Rensselaer, NY within walking distance to the Albany/Rensselaer CDTA-AMTRAK Rail Station. The site features 1,000’ of frontage along the Hudson River, spectacular views of the Albany skyline, convenient access to major highways and includes a 3 acre public access Esplanade and waterfront walking trail. De Laet’s Landing consists of 24 acres, zoned as a Planned Development District (PDD), that will be subdivided and developed overtime based on market demand. The site enjoys a fully approved SEQR with approvals for up to 1.3 million square feet of mixed uses.

DeLaet’s Landing - Development Update June 2019 The Apartments at De Laet’s Landing In February 2019, De Laet’s Landing achieved a major milestone with the completion of 100 New Broadway, a 4 story - 96 unit market rate apartment building. The $20 million project is the first phase of development on the site and represents one of the largest private sector investments within the City of Rensselaer in recent years. Leasing activity for the apartments is on track and the building is expected to be at nearly full occupancy by September 2019. Marx Properties is currently planning additional residential projects for the site and anticipates the next phase of construction to start in the spring of 2020.

DeLaet’s Landing - Development Update June 2019 Hotel & Restaurant Development Marx Properties is currently marketing 3 acres of prime waterfront land for sale, with the intention of attracting a premier hotel developer/operator to the site. With spectacular waterfront views and close proximity to the Rensselaer Rail Station, downtown Albany as well as the Regeneron & SUNY East Campus locations, De Laet’s Landing is ideal for a range of Hotel, Restaurant and Event space opportunities.

Potential tenants may include: DeLaet’s Landing - Development Update June 2019 Commercial Development Opportunities The De Laet’s Landing Master Plan and approved PDD status allow for mixed use development of up to 1.3 million square feet. Marx Properties is actively seeking tenants for Office and Retail space that will create additional opportunities and complement the residential and hotel components of the development. Potential tenants may include: Corporate Headquarters & Class A Office Space Medical & Professional Office Light Retail, Restaurant & Grocery Entertainment & Sports facilities