GARY MILLER, MAI President Nico Valuation Services, Ltd. 53 West 89th Street - Suite 101A New York, New York 10024 (212) 362-5155 // (516) 741-8448 Facs (212) 362-3938 Email: [email protected]

Nico Valuation Services, Ltd. is a highly trained and experienced real estate firm which specializes in appraisal/consultation services for commercial and multi-family real estate and business valuations in the New York Metropolitan Area. Our clients include prominent banks and financial institutions, law firms, securities firms, governmental agencies, development concerns, offshore investors, and international corporations. Public agencies we have worked for and on whose behalf we have provided litigation support include the New York City Department of Law, Corporation Council, Board of Education, the Assemblies of God, Battery Park City Authority, Department of Ports and Trade, General Services Agency, New Jersey Redevelopment Agency, Resolution Trust Corp., and the FDIC. We are currently on retainer for appraisal preparation and review work for the New York City Economic Development Corporation, the Metropolitan Transit Authority, and the United States Postal Service. The professionals at Nico Valuation Services, Ltd. have valued well over $1 Billion of real estate during their careers, working for industry leaders requiring quality educational backgrounds and committed to valuation experience and expertise. We are intimately familiar with local neighborhood nuances and general locational and economic trends throughout this geographic area, and constantly review and consult with numerous publications, data services, and public and private real estate sources throughout the metropolitan area.

Nico Valuation Services, Ltd. has established a reputation as a top quality real estate firm using the most advanced modern computerized technology and providing timely and efficient service. All valuation work is supervised by an MAI Member of the Appraisal Institute, assuring compliance with state mandated laws and regulations, FIRREA, FDIC and OTS regulatory standards, and the Uniform Standards of Professional Practice and Code of Ethics of the Appraisal Institute. We have completed engagements for multiple property portfolios requiring supervision of individual evaluations of more than 45 separate locations within one portfolio.

Gary Miller, MAI is a Member of the Appraisal Institute, and President of Nico Valuation Services, Ltd. The States of both New York and New Jersey have licensed him as a State Certified General Real Estate Appraiser. He specializes in the valuation of income producing properties for litigation and consulting purposes. Mr. Miller has more than 25 years experience valuing an impressive array of major properties including shopping centers, office buildings, new condominium complexes, large scale cooperative conversions, marinas, industrial buildings, luxury residential properties, and major development sites with vacant land for numerous use types. He testifies as an expert witness in litigation matters and also handles valuation arbitrations. Mr. Miller was formerly a Managing Director of the Banking Services Group at James Felt/Grubb & Ellis, Inc. for nearly 10 years.

NICO VALUATION SERVICES, LTD.

53 West 89th St. – Suite 101 A New York, New York 10024

Nico Valuation Services, Ltd. (212) 362-5155 // (516) 741-8448 Facs (212) 362-3938

GARY MILLER, MAI President EDUCATION The Johns Hopkins University, B.A., May 1983, Cum Laude Major course of study included economics and business The University of California at Berkeley - Economics The Choate School/Rosemary Hall, May 1979, Dean's List The American Institute of Real Estate Appraisers: All core courses 1A1, 1A2, 1BA, 1BB, 2-1, 2-2, SPP: Dartmouth College, University of Colorado, and New York MAI Chapter Course SPP - Standards of Professional Practice: New York, NY Arbitration Valuation Business Valuation State Certification -

New York, NY New York, NY New York, NY

PROFESSIONAL EXPERIENCE 1993 Pres.

President, Nico Valuation Services Ltd. 53 West 89th Street, Suite 101A New York, New York, 10024

1984 1993

Managing Director, Banking Services Group Commercial Real Estate Valuation James Felt/Grubb & Ellis Inc. 55 East 59th Street New York, NY

1980

Commercial Real Estate Salesperson ERA Imperial/Grempler Realty Baltimore, Maryland

PROFESSIONAL AFFILIATIONS Member of the Appraisal Institute - MAI Designation Currently certified in the program of Continuing Education Member of the Regional Ethics Panel Member of the National Association of Realtors Real Estate Board of NY - Appraisal Committee Member LICENSES NY State Certified General Real Estate Appraiser NJ State Certified General Real Estate Appraiser Real Estate Salesperson - The State of New York

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Qualifications of Gary Miller, MAI

Sample Properties

Gary Miller, MAI is a Member of the Appraisal Institute, and President of Nico Valuation Services, Ltd. The States of both New York and New Jersey have licensed him as a State Certified General Real Estate Appraiser. He specializes in the valuation of income producing real estate and business interests for litigation and consulting purposes. Mr. Miller has valued more than $1 Billion of real estate, including apartment buildings, office buildings, shopping centers, industrial buildings, new condominium complexes, large scale cooperative conversions, luxury residential properties, marinas, businesses, and major development sites with vacant land for numerous use types. He testifies as an expert witness in litigation matters and also handles valuation arbitrations and tax certiorari reviews. Clients include prominent banks and financial institutions, law firms, securities firms, governmental agencies, development concerns, offshore investors, and international corporations.

Sample Appraisal Experience: MANHATTAN Swiss Bank Tower 10 East 50th Street Empire State Building Metropolitan Tower The Regatta Battery Park City Paramount Hotel Park Avenue Plaza, 55 East 52nd St. 1, 3, 11, 31, and 15 Park Row 823 Park Avenue 1514 Broadway 1481/3 Broadway 12 Barclay Street Chanin Building 122 East 42nd Street 340 East 34th Street 2724 Broadway Morgans Hotel Little West Street 50 East 78th Street 50 Madison Avenue 247 West 26th Street 451-457 Columbus Avenue 301 East 75th Street 130 West 79th Street 66 Madison Avenue 599 Broadway 44-58 East 8th Street 622 Third Avenue Blue Cross/Blue Shield Bldg. 90 West Street 31 Bedford Street 17 Sutton Place 101 West 79th Street

New premiere headquarters office building with Saks 5th Avenue extension at its base - consultation Retail component analysis Commercial condominium portion of mixed use tower New 200+ unit condominium development with a large retail and restaurant component 20 story, 610 room Midtown Manhattan Hotel New 45 story, 1,000,000 sq. ft. office building with retail atrium 325,000 sq. ft. office and loft buildings, plus vacant land 12 story luxury pre-war apartment building Criterion Center - theaters, stores, & signs 4 story mixed use building - T.V. studios & theaters Vacant hotel/office land downtown 54 story, 750,000 sq. ft. office building - Estate Tax Consultation 17 story institutional apartment building 16 story, 223 room Regent/Elysee Hotel 16 story, 139 room Luxury Midtown Manhattan Hotel Vacant 1+ acre strip of downtown land 15 story apartment building 5 story office building 3 attached apartment buildings with stores 5-story apartment building with retail 19 story cooperative apartment building 18 story Austin condominium development 6,800 sq. ft. retail leasehold 2-level bank commercial condominium unit 6 story cooperative apartment building leasehold, with stores 38 story, 875,000 sq. ft. Blue Cross/ Blue Shield Headquarters office building 23 story, 325,000 sq. ft. office building Blue Ribbon Bakery Restaurant 5 story luxury townhouse 35 story luxury penthouse condominium unit

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Qualifications of Gary Miller, MAI

Sample Properties

29-10 Thomson Ave., Long Island City Eastpoint Development, College Point Windsor Oaks, Bayside 227-15 North Conduit, Laurelton 45-20 83rd Street, Elmhurst Acropolis Gardens, Astoria Jamaica Arms Hotel, Jamaica 48-02 48th Ave., Sunnyside 57-02/10 Hoffman Dr., Elmhurst 37-11 23rd St., Long Island City 70-10 Austin Street, Forest Hills 133-63 Roosevelt Ave., Flushing 102 Beach 169th St., Far Rockaway 106-16 70th Avenue, Forest Hills

QUEENS Executone Building - 1,000,000 sq. ft. loft/office building 306 unit waterfront apartment complex with dockominium boat slips 522 occupied coops in a 898 unit garden apartment complex 110,000 sq. ft. pharmaceutical lab with warehouse 33,000 sq. ft. industrial building 16 building walk-up apartment complex for coop conversion - R41C 50,000 sq. ft. apartment hotel - condemnation 1, 2, and 3 story industrial buildings Elmwood Twin Theater with stores Vacant land with small garage Retail space and parking land 10-story proposed hotel with retail and parking garage Fort Tilden Post Office in the Gateway National Park Recreation Area New construction of 40,000 sq. ft. Bukharian Temple/Community Center

977 East 149th Street 162 Willow Avenue 165 City Island Avenue 3813-21 Boston Road 740 Allerton Avenue 880 River Avenue 849 Crotona Park N./1790 Marmion Ave. 910 East 163rd Street Foot of East 134th Street 2488 Grand Concourse

BRONX 185,000 sq. ft. industrial building Vacant 5 story renovated loft building Residential/commercial land and marina 1, 2, & 3 story commercial buildings Mixed use retail/office building and movie theatre 40,000 sq. ft. office/retail building Twin 3-story residential drug treatment homes 5 story apartment building with store Vacant Land for self storage warehouse 100,000 sq. ft. office/retail building

26 Court Street 40 Flatbush Avenue 1 Main Street Fulton Landing 517 Wilson Avenue 868, 360 and 763 Ocean Parkway 42-44 Jay Street Green and West Streets 3039 Ocean Parkway 1368 Flatbush Avenue

BROOKLYN 275,000 sq. ft. Class A office building 300,000 sq. ft. loft/office building 275,000 sq. ft. gut renovated office building - Gair 7 Clocktower Building Small apartment building 6 story elevatored cooperative apartment buildings 40,000 sq. ft. Pheonix House Rehabilitation Facility 15 acres of Greenpoint waterfront land 4 story walk-up apartment building Proposed Target department store

100 Ellis Street 1741 Richmond Terrace 91 Wright Avenue 400 Victory Boulevard 999 Forest Avenue 1501 Richmond Avenue Calvary Tabernacle 1424 Richmond Avenue 1285 Castleton Avenue 800 Castleton Avenue Amboy Road Widening

STATEN ISLAND 25 multiple use waterfront properties for condemnation Vacant Land 1 story industrial building 2 story warehouse Partially constructed cooperative building with excess land New 45,000 sq. ft. Church with excess land and public assembly building under construction - Bankruptcy Court 2 story retail building with restaurant 2 story retail/office building New medical offices for Staten Island University Hospital 20 properties of various use types for condemnation

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Qualifications of Gary Miller, MAI

Sample Properties

NEW YORK METROPOLITAN AREA Cross County Center, Yonkers 1,000,000 sq. ft. shopping center Sun Vet Mall, NY 250,000 sq. ft. shopping mall Sterns Department Store, Yonkers 300,000 sq. ft. department store/Cross County Shopping Center Newport Development Vacant land for condemnation Jersey City, NJ and 113 door truck terminal on Hudson River Revlon Headquarters 450,000 sq. ft. multi-building complex Yonkers/Tuckahoe, NY of research lab/office/flex space plus vacant land Half Moon Bay Development 342 waterfront condominiums and Croton-On-Hudson, NY 300 slip dockominium marina High Ridge at Randolph, NJ 62 acre residential sub-division Bethpage State Park, Bethpage Water tower easement Sears Shopping Center, NY 450,000 sq. ft. shopping center Hoboken Shipyard Site, NJ Land for 7,000,000+ sq. ft. mixed use waterfront development with marina Meadow Lane, Southampton Dragon's Head Castle renovation Exchange Place, Jersey City 15 acres of waterfront land: office/residential and marina Nassau / Suffolk Counties 45 property portfolio with over 500,000 sq. ft. Long Island, NY involving several different use types Bethpage State Parkway, Bethpage Watermain easement 54 South 4th Ave., Mt. Vernon 3 story retail building Westinghouse elevator headquarters, NJ Office headquarters in Whippany 129 S. Kensico Ave., White Plains Multi-tenant retail/service building Davenport Neck, New Rochelle Vacant land for marina and residential use - condemnation 4 Tri-Harbor Court, Port Washington New 50,000 sq. ft. corporate headquarters 1200 Harrison Avenue, Kearny, NJ 400.000 sq. ft. Postal distribution hub

115 Forest Avenue, Locust Valley

Strip shopping center

FDR Estate Land, Hyde Park 2 Gateway Center, Newark, NJ

Multiple easements on a 50 acre development site 500,000 sq. ft. office building

Blue Cross/Blue Shield Bldg. Albany, New York Americana Hotel-Great Gorge Vernon Valley, New Jersey 8025 Black Horse Pike, Atlantic City, New Jersey Saratoga Village Malta, New York 8279 State Route 28 Big Indian, New York 366 North Church Street Spartanburg, South Carolina Skokie, Illinois Ferndale, Michigan Tonawonda, New York Maryland Heights, Missouri

NATIONAL 87,000 sq. ft. office building 617 room hotel/timeshare on 800 acres with excess land Bayport 1 office building 175,000 sq. ft. factory outlet mall United States Post Office 100,000 sq. ft. neighborhood strip shopping center 1 story net leased office/industrial bldg. 1 story net leased office/industrial bldg. 1 story commercial building 1 story net leased office/industrial bldg.

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