Related Companies & Zagster Launch NYC's First Resident Bike Sharing Program

NEW AMENITY EXTENSION OF RELATED’S COMMITMENT TO HEALTH AND WELLNESS LIFESTYLE OFFERING. PROGRAM OFFERS RESIDENTS CONVENIENT ON-PROPERTY ACCESS TO LIGHT WEIGHT BIKES ON DEMAND FOR FUN, EXERCISE AND ERRANDS

NEW YORK, NY – June 10, 2013 – Related Companies, and Zagster, a company that provides bikes-as-a-service, today launched New York City’s first resident bike sharing program, making Related Companies the first real estate company to offer a bike sharing program at multiple properties in multiple cities. Bikes will be located initially in 10 of Related’s New York City and Boston properties. Related plans on extending the program to include properties in Chicago and San Francisco.

“Related prides itself on bringing first-to-market innovations to our residential offerings. From being the first landlord to offer credit card payments, to developing one of the nation’s initial green high-rise residential buildings, to the full integration of the world’s finest fitness brand into our residential portfolio, Related continues to seek out new opportunities to anticipate our residents’ needs and improve their lifestyle. We are proud to partner with Zagster and become the first national real estate company to offer its residents an exclusive on site bike sharing service across the country. Residents will be able to experience the ultimate in convenience while exercising, running errands and living green,” said Daria Salusbury, Senior Vice President of Related, who leads the company’s luxury residential leasing operations.

“Related understands the changing dynamics of today’s urban resident, who is very interested in sustainable, convenient and efficient transportation,” said Timothy Ericson, co-founder and CEO of Zagster. “By offering Zagster, Related can meet their residents’ needs while providing Related a key differentiator in a highly competitive market.”

From Tribeca to the Upper West Side, from the Theater District to Midtown and the Upper East Side, Related residents can now “Zag” around town from any of Related’s 11 initial bike share locations, with additional bikes and properties being added as demand increases. Bikes are already located at 1214 Fifth Avenue, The Caledonia, MiMA, One Carnegie Hill, The Strathmore, Tribeca Green, Tribeca Park, Tribeca Tower and The Westport in New York City. A map of the properties in New York is located here: http://batchgeo.com/map/4876de4cb25164c58f6d4c016760391e.

In addition, bikes are available in Boston at One Back Bay, and will soon be available in Chicago at 500 Lake Shore Drive and in San Francisco at The Paramount.

Zagster offers riders the Breezer Uptown, an award winning bike known for its light weight, yet durable construction, specifically designed for city riding. All bikes will be located on property in garages or parking structures and will be equipped with spacious baskets for transporting groceries, take out or goodies from New York's legendary retailers. With an attached flexible lock, riders can park their bikes wherever they want, allowing the ultimate in convenience.

Each onsite bike contains a bike lock with the key stored inside a lock box. After joining Zagster at www.zagster.com, Related riders will simply text 'start' plus the bike number (e.g. ‘start 46’) to a phone number. A confirmation message with the access code for the lock box will be texted back. This action reserves the bike for the remainder of the day or until the bike is returned. Riders will text “end” to the same number to release the bike for the next rider.

The bike share program continues Related’s foray into groundbreaking advances in sustainability and lifestyle services, including the usage of Green Seal cleaning products and low VOC paints in all of its apartments across the country and integrating one of the world’s finest fitness brands, Equinox Fitness Clubs, into its residential portfolio, as well as becoming the first New York City developer to offer credit card rental payment options to its residents. Related is also committed to building all LEED certified buildings and reducing global carbon emissions by advancing clean energy generation, energy management and energy conservation throughout all of its properties.

About Related:

Related Companies is the most prominent privately-owned real estate firm in the United States. Formed 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Abu Dhabi, Sao Paulo and Shanghai and an existing portfolio of real estate assets, valued at over $15 billion, made up of best-in-class mixed-use, residential, retail, office and affordable properties. Related has developed preeminent mixed-use projects such as Time Warner Center in New York and CityPlace in West Palm Beach and is currently developing the 26-acre Hudson Yards project on Manhattan’s West Side.

Related has dramatically redefined the concept of metropolitan luxury by introducing extraordinary residential rental properties in Boston, San Francisco and New York City. With each new building, Related has been hailed for setting new standards of excellence in the luxury rental marketplace. To ensure that every resident in every Related building enjoys the very finest services, unsurpassed amenities, and a luxury lifestyle without compromise, Related Companies takes great pride in managing every building it owns. Related owns and manages The Caledonia, One Carnegie Hill, Carnegie Park, MiMA, One MiMA Tower, The Lyric, One Union Square South, Riverwalk Crossing, The Sierra, The Strathmore, The Tate, Tribeca Green, Tribeca Park, Tribeca Tower, The Westminster and The Westport in New York City (and manages 1214 Fifth Avenue, The Ventura and 89 Murray also in New York City), One Back Bay in Boston, 500 Lake Shore Drive in Chicago and The Paramount in San Francisco.

Related is staunchly committed to sustainable design with over $10 billion in green development underway or completed. Related also owns Equinox® Fitness Clubs, further expanding the company's capabilities into the health and fitness arena and enhancing the value of its properties by incorporating an exclusive, branded amenity into the lifestyle offering, and a partnership interest in Union Square Events, the catering, culture, sports, and events business of Danny Meyer’s Union Square Hospitality Group. For more information about Related Companies please visit www.related.com.

About Zagster:

Founded in Philadelphia in 2007 as CityRyde and now headquartered in Cambridge, Mass., Zagster is one of the nation’s first bike sharing companies. Zagster is uniquely focused on contracting with property managers, hotels, businesses, and universities across North America to make bike sharing programs available to tenants, employees, guests and students. This highly efficient and unique model allows Zagster to offer services in areas that traditional city-wide bike sharing systems can’t reach. Zagster is developing a national footprint of bike sharing programs in partnership with real estate/apartment companies, businesses, hotel chains and universities, all of whom are looking to provide value added services and benefits to tenants, guests or employees. More information about Zagster is available online at www.zagster.com.


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