AppnnserCoUSULTANTSonp.
Real EstateAppraisersand ConsultartsPresidential enter293Eisenhower arl,:waySuite200Livingston,New Je6eyO7039-l'lll(913)994-',7400FAX:(973)994- 3493E-Mail:pb@appcon.com
IuJy 4,2008Townshipof Maplewoodc/o RogerJ.Desiderio,Esq.Bendit,Weinstock& Sharbaugh80 Main StreetWestOrange, J 07052DearMr. Desiderio:
tuchadM. Chaiken, AI, CRE(103)JonP.Brody,MAI, CRE
(104)William .SteinhartAI, CRE(0)
DebraRipoliCherylS.NobilcDianeV. ChristianaMark A. Chaiken
(107)(108)(109)(r06)
Pursuant oyourrequestor an appraisalreparedn summaryppraisal eportormatestimatinghecurrentMarketVa1ue, eeSimpleEstate, fthe subject
ropertyorpossiblealepurposesy theTownshipof Maplewood. Thepropertys situateat:125DunnellRoad,Maplewood, ssexCounfy,NJ
Block/Lot17.16110We submitherewith copies fourreport hatcontains atagatheredn our nvestigationndwhichdescribesur methods f approach.Wehavemadean nspection fthe subject ndhave
givencareful onsiderationo allofthefactorsthat,n our opinion,affect heMarketValueofthisparticular roperty-In our opinion, heMarket Valueofthe FeeSimpleEstatefthis property,or the abovestatedpurposendhe sitecouldbe developed ith 50 residential ulti-familyunitsasof June20,2008
was$68,000/unitr$3,400,000.Sincerely,AppraisalConsultants orp.JonP. Brody,MAI, CRECertified GeneralAppraiserN.J.Licenseo.RG00390
Fldoc-jpbVpt08\aaplewoodolicestation pt7-087167b.doc
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