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					           Lexington Center
Retail Condo’s for Sale or Lease
Newly Constructed Mixed Use Development
            Mass Ave and Waltham Street Frontages
                    www.LivLexPlace.com
                                                            Lexington Place




                                      Lexington Place is the first of its kind mixed-use development in Lexing-
                                      ton center. The 90,000 square foot building features 30 luxury residential
                                      condominiums located on three levels with under ground garage parking
                                      and first level retail space on both Massachusetts Avenue and Waltham
                                      Street. The building was built to Energy Star and LEED certification
                                      standards. The developers commitment to “build green” means that Lex-
                                      ington Place will use
                                      fewer resources – en-
                                      ergy, water, materials,
                                      land - than typical, code
                                      conforming mixed-use
                                      buildings. The devel-
                                      oper’s higher design and
                                      construction standards
                                      will bring in more natu-
                                      ral light, provide better
                                      air quality, and more
                                      weather protection. All
                                      of this will contribute to
                                      a higher level of comfort and health for the residents and retailers of Lex-
                                      ington Place, as well as enable substantial savings in energy costs.
For More Information Please Contact
           Eric Shapiro
                                    The building will be completed in June of 2009, was developed by Oak-
       Lexvest Partners, LLC
                                    tree Development and Lexvest Partners, LLC, and designed by Line
   Broker Participation Welcome
                                    Company Architects, Inc.
           781-862-4400
   eshapiro@lexvestpartners.com
                                                                  Location




                                      Lexington Place is conveniently located in the Lexington Center on both
                                      Massachusetts Avenue and Waltham Street. Lexington is recognized as
                                      one of the higher end communities in Massachusetts and known for its
                                      historical presence in American history. In fact the thriving downtown
                                      center benefits from the many amenities, museums, historical properties,
                                      and convenient access that Lexington has to offer. Lexington promotes
                                      downtown activity with a pedestrian friendly layout, public parking lots,
                                      bike trail, and town run Lexpress community bus service. Lexington is
                                      located 11 miles northwest of Boston in close proximity to routes 2 and
                                      95/128 and situated on route 4 & 225.




For More Information Please Contact
           Eric Shapiro
       Lexvest Partners, LLC
   Broker Participation Welcome
           781-862-4400
   eshapiro@lexvestpartners.com
                                                     Lexington Place
                                                   General Information




                                      Commercial Tax Rate             $23.29/$1,000
                                      Lexington Population            28,974
                                      Median Income                   $123,000
                                      Households with Children        40%
                                      White Collar Workforce          83%
                                      Home Ownership                  84.4%
                                      Median 2008 Home Price          $675,000
                                      Handicap Assessable Bathrooms   Yes, access to 2
                                      Exterior Signage and Lighting   Yes, per specification
                                      Brick Exterior Façade           Mass Ave Units
                                      Clapboard Exterior Façade       Waltham Street Units
                                      Store Front                     Oversized Windows
                                      Front Door                      Double Doors, except unit E
                                      Street Level                    Yes, all units
                                      Parking                         Available for employees
                                      Utilities                       National Grid, NStar, MWRA
                                      Condo Fee                       Condo Fees include water, sewer,
                                                                      building insurance, building
For More Information Please Contact                                   management, and building
           Eric Shapiro                                               repairs.
       Lexvest Partners, LLC
   Broker Participation Welcome
           781-862-4400
   eshapiro@lexvestpartners.com
Join the many local, regional and national
       retailers of Lexington Center




   For More Information Please Contact Eric Shapiro - Broker Participation Welcome
                    781-862-2087 eshapiro@lexvestpartners.com
                                      Massachusetts Avenue Frontage




    2,720 Rentable Square Feet
            Available

 Subdividable into two condominiums

 Retail Space A - 1,125 Square Feet
 Retail Space B - 1,595 Square Feet




For More Information Please Contact
           Eric Shapiro
       Lexvest Partners, LLC
   Broker Participation Welcome
           781-862-4400
   eshapiro@lexvestpartners.com
                                       Waltham Street Frontage




   3,593 Rentable Square Feet
           Available

Subdividable into three condominiums

Retail Space C - 1,345 Square Feet
Retail Space D - 1,330 Square Feet
Retail Space E - 918 Square Feet




For More Information Please Contact
           Eric Shapiro
       Lexvest Partners, LLC
   Broker Participation Welcome
           781-862-4400
   eshapiro@lexvestpartners.com
                                            Lexington Place - Own or Lease
                                         Retail Unit A - Mass Ave                                      1,125 SqFt
                                         Cost to Own
                                         Price                      $ 562,500.00
                                         Down Payment               $ 140,625.00      25%
                                         Mortgage                   $ 421,875.00      75%
                                         Payments                      Monthly              Annually           $/SqFt
                                         Mortgage             $      2,718.15            $ 32,617.76         $ 28.99
                                         Condo Fees           $        186.00            $ 2,232.00
                                         Taxes                $        765.00            $ 9,180.00
                                         Total Costs          $      3,669.15            $ 44,029.76

                                         Cost to Lease
                                         Payments                       Monthly             Annually           $/SqFt
                                         Rent                  $      4,218.75           $ 50,625.00         $ 45.00
                                         Condo Fees            $        186.00           $ 2,232.00
                                         Taxes                 $        765.00           $ 9,180.00
                                         Total Costs           $      5,169.75           $ 62,037.00


                                         Retail Unit B - Mass Ave                                      1,595 SqFt
                                         Cost to Own
                                         Price                    $    797,500.00
                                         Down Payment             $    199,375.00   25%
                                         Mortgage                 $    598,125.00   75%
                                         Payments                     Monthly              Annually            $/SqFt
                                         Mortgage              $      3,853.73       $     46,244.73         $ 28.99
                                         Condo Fees            $        264.00       $      3,168.00
                                         Taxes***              $      1,084.60       $     13,015.20
                                         Total Costs           $      5,202.33       $     62,427.93

                                         Cost to Lease
                                         Payments                     Monthly              Annually            $/SqFt
                                         Rent                  $      5,981.25       $     71,775.00         $ 45.00
                                         Condo Fees            $        264.00       $      3,168.00
                                         Taxes                 $      1,084.60       $     13,015.20
                                         Total Costs           $      7,329.85       $     87,958.20


                                         Retail Unit C - Waltham Street                                 1,345 SqFt
                                         Cost to Own
                                         Price                   $ 605,250.00
                                         Down Payment            $ 151,312.50        25%
                                         Mortgage                $ 453,937.50        75%
                                         Payments                   Monthly                 Annually           $/SqFt
                                         Mortgage             $   2,924.73            $     35,096.71        $ 26.09
                                         Condo Fees           $     225.00            $      2,700.00
                                         Taxes                $     914.60            $     10,975.20
                                         Total Costs          $   4,064.33            $     48,771.91

                                         Cost to Lease
                                         Payments                      Monthly              Annually           $/SqFt
                                         Rent                  $      4,483.33        $     53,800.00        $ 40.00
                                         Condo Fees            $        225.00        $      2,700.00
                                         Taxes                 $        914.60        $     10,975.20
For More Information Please Contact      Total Costs           $      5,622.93        $     67,475.20
           Eric Shapiro
       Lexvest Partners, LLC
   Broker Participation Welcome
           781-862-4400               Mortgage Payments are estimated at 6% interest with 25 year amortization, Rent
   eshapiro@lexvestpartners.com       Payments are offered on a NNN Basis, Taxes and Condo Fees are estimates only.
                                             Lexington Place - Own or Lease
                                      Retail Unit D - Waltham Street                                 1,330 SqFt
                                      Cost to Own
                                      Price                     $ 598,500.00
                                      Down Payment              $ 149,625.00      25%
                                      Mortgage                  $ 448,875.00      75%
                                      Payments                    Monthly                 Annually          $/SqFt
                                      Mortgage              $    2,892.11          $     34,705.29        $ 26.09
                                      Condo Fees            $      222.00          $      2,664.00
                                      Taxes                 $      904.40          $     10,852.80
                                      Total Costs           $    4,018.51          $     48,222.09

                                      Cost to Lease
                                      Payments                    Monthly                 Annually          $/SqFt
                                      Rent                  $    4,433.33          $     53,200.00        $ 40.00
                                      Condo Fees            $      222.00          $      2,664.00
                                      Taxes                 $      904.40          $     10,852.80
                                      Total Costs           $    5,559.73          $     66,716.80



                                      Retail Unit E - Waltham Street                                  918 SqFt
                                      Cost to Own
                                      Price                     $ 413,100.00
                                      Down Payment              $ 103,275.00       25%
                                      Mortgage                  $ 309,825.00       75%
                                      Payments                     Monthly                Annually           $/SqFt
                                      Mortgage               $    1,996.21          $    23,954.48         $ 26.09
                                      Condo Fees             $      153.00          $     1,836.00
                                      Taxes***               $      624.24          $     7,490.88
                                      Total Costs            $    2,773.45          $    33,281.36

                                      Cost to Lease
                                      Payments                     Monthly                Annually           $/SqFt
                                      Rent                   $    3,060.00          $    36,720.00         $ 40.00
                                      Condo Fees             $      153.00          $     1,836.00
                                      Taxes                  $      624.24          $     7,490.88
                                      Total Costs            $    3,837.24          $    46,046.88




For More Information Please Contact
           Eric Shapiro
       Lexvest Partners, LLC          Mortgage Payments are estimated at 6% interest with 25 year amortization, Rent
   Broker Participation Welcome       Payments are offered on a NNN Basis, Taxes and Condo Fees are estimates only.
           781-862-4400
   eshapiro@lexvestpartners.com
                                                       Lexington Place
                                                      Retail Specifications
                                      All of the following work will be furnished and installed to meet all
                                      governing codes and regulations. The term "provide" as used herein
                                      means furnish and installed and included in the purchase price of the
                                      retail condominiums.

                                      Storefront: Provide a glass storefront utilizing double glazed, then-
                                      nally broken windows with opposite swinging doors. Exterior cylinder
                                      locks and interior thumb turns; all locations and layout per Plans.

                                      Fire Sprinkler and Central Station Reporting Systems: Provide a
                                      complete fire sprinkler system code. Additional drops for vestibule,
                                      counter and perimeter soffit areas, workroom, restrooms, and other nec-
                                      essary rooms or locations are the responsibility of the Tenant. Any sys-
                                      tems monitoring, alarms, specialty items or alarm fees shall be included
                                      in the condo fee as required by code.

                                      Walls: Tape and prime paint all unit separation walls.

                                      Lighting: Exterior wall sconce fixtures to flank both sides of retail en-
                                      try doors/storefront windows, fixtures to match wall sconces at residen-
                                      tial public entry door. Recessed can lights with screw-in florescent
                                      bulbs in exterior Ceilings over all retail entry doors. Provide utility
                                      level lighting in retail spaces as prospective tenants will provide inte-
                                      rior fit-out of drop ceiling and all lighting. No interior lighting pro-
                                      vided.

                                      Electric & Gas — Will be sub-metered and provided to the space.
                                      Distribution will be tenants responsibility. Provide 200 amp service to
                                      each retail condominium, except Retail Space E which will be provided
                                      with 100 amp service.

                                      HVAC - Gas fueled forced hot air/central air provided to space. One
                                      supply diffuser per 250 square feet contained in demised premises,
                                      maximum; and one (l) return. Branch lines are the buyers responsibil-
                                      ity.

                                      Flooring - Sealed concrete floors

                                      Ceiling - Fire code sheet rock. Mass Ave units ceiling height 10’-8”.
                                      Waltham Street units ceiling height 9’-6”.
For More Information Please Contact
           Eric Shapiro
       Lexvest Partners, LLC
   Broker Participation Welcome
           781-862-4400
   eshapiro@lexvestpartners.com
                                                       Lexington Place
                                                    Signage Specifications
                                      Retail signage must conform to the following guidelines for Mass Ave.
                                      and Waltham Street elevations

                                      All signs are to be panels of wood or sign foam, which fit on the metal
                                      soffits above the storefront glass. Sign field areas on Mass Ave are 1'-
                                      8" tall x 11'-2" wide. The Waltham Street sign fields are 20" tall x 11'-
                                      6" wide.

                                      No signs will be mounted to the pre-cast stone or wood bands located
                                      above the soffit. No individual letters can be mounted to the building.
                                      The panels shall be mounted with concealed stainless screws.

                                      Panel Size: The Panels should not be taller then 18" and width should
                                      be proportionate to the bay in which the sign sits. The sign panel to be
                                      no thicker than 1” with letters protruding not more than 1" beyond that
                                      face.

                                      Panel color: color to match metal building soffit, or black.

                                      Retail Unit E shall use a blade style sign extending from the last pilas-
                                      ter @ column line 8.8 next to the main lobby entry (see plan A2.l for
                                      reference) for the residential units, metal bracket with similar style sign
                                      as others. Sign shall be above ADA limitations. The sign must be a
                                      minimum of 7' above the grade, and not extend more than 28" from the
                                      column.

                                      Lighting: Lights will be provided and maintained as part of the overall
                                      building and may only be changed if all are replaced on the building
                                      (and approved by HDC).

                                      The following specifications will be approved by the Historic Districts
                                      Commission: Letter Size, Style, Color and Content




For More Information Please Contact
           Eric Shapiro
       Lexvest Partners, LLC
   Broker Participation Welcome
           781-862-4400
   eshapiro@lexvestpartners.com
                                      Allowed Uses
Lexington Place is located within the Central Business (“CB”) zoning district of Lexington,
Massachusetts. The zoning bylaws state that the CB District “is intended to be a district with
a medium intensity of development for establishments and institutional uses offering a wide
variety of goods and services. The CB District is intended to recognize and enhance the role
of Lexington Center as the focus of civic, cultural, retail, and service activity in the town. Its
contribution to the history, culture and image of the Town requires special development stan-
dards not appropriate for other locations in the town. A compact and more intensive develop-
ment oriented to pedestrians and people entering several businesses, public or institutional
uses, is anticipated. Most off-street parking will be in a few larger lots serving a variety of
uses. Mixed-use development is appropriate. Uses which interrupt the continuity of the pe-
destrian circulation and shopping patterns are discouraged.”

Though the following pages will outline the allowed uses per the Town of Lexington Zoning
Bylaw, the Master Deed of the Condominium further restricts the use. Specifically the Mas-
ter Deed states, “Commercial Units may be used for any purpose now or hereafter permitted
by the zoning ordinance of the Town of Lexington, specifically including restaurants, except
as otherwise set forth in the subsection (a). With respect to restaurant use, there shall be
minimal on-site cooking, and all operations shall be conducted to minimize odors. No grill,
stovetop or other cooking surface requiring ventilation or deep fryer shall be used. No so
called fast food establishment requiring a roof top exhaust fan and roof top hood for frying
and cooking shall be permitted. Notwithstanding the foregoing, no Commercial Unit may be
used for (a) any form of live entertainment, (b) massage parlor, but a so-called spa primarily
providing health and beauty services, including massages only as an ancillary service shall be
permitted, (c ) tattoo parlor, (d) so-called adult bookstore, (e) so called adult cinema, (f) pin-
ball arcade, (g) so called t-shirt shop, (h) pet store providing boarding and/or grooming ser-
vices, but a pet store that does not provide boarding or grooming services shall be permitted,
(i) late hour retailers requiring an entertainment license such as a nightclub or discotheque, (j)
on-site dry cleaning, or (k) any other use which would detract the first class ambiance of the
Condominium. The Declarant makes no representation that the Commercial Unit may be
used for the foregoing permitted purposes under applicable law. “




        For More Information Please Contact Eric Shapiro - Broker Participation Welcome
                         781-862-2087 eshapiro@lexvestpartners.com

				
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Description: Amortization on Condo document sample