EFTA01126149.pdf

From: Harry Beller •, › Subject: Note on loan facility Date: March 4, 2013 2 36 56 PM EST To: Jennifer greene Jennifer Please send me a copy of the note for the $15.3 million loan facility Thanks Many EFTA01126149  From: Harry Beller Subject: Date: March 1, 201311:31:04 AM EST To: jennifer gr Cc: Rich Kah Jennifer Please confirm that Jeffrey Epstein will receive a 25% discount off retail for fuel purchases for his boat. We plan on fueling boats today. Thanks Harry EFTA01126150  From: Harry Beller •ca Subject: AYH Date: February 27, 2013 4:55:46 PM EST To: Jennifer greene Jennifer Could AYH prepay the current $15.3 million loan facility at any time. If so we there any fees or penalties to prepay. please advise thanks Harry EFTA01126151  From: Harry Beller <Ila Subject: AYH Capital Accounts Date: February 27, 2013 11:17:26 AM EST To: jennifer greene Jennifer The 2011 Form 1065 schedule L shows a balance in partners capital accounts of 5,589,263. The individual K-1 shows a balance or IGY LTD of 4,316,636 and for Mr Epstein of 4,691,888. With respect to the capital accounts I have the following questions: 1) please explain the difference in the amount of 3,419,261 between the total balances on the K-1s verses' the balance on schedule L 2)Please explain the net stepup of 375,252 to Mr Epstein's capital account 3) if both partners share 50% of profit and loss as per the K-1, why are they being allocated different amounts of P&L as per your analysis please advise thanks Harry EFTA01126152  From: Harry Beller Subject: IGY-AYH ST Thomas Holdings, LLC Date: February 11, 20131127:57 AM EST To: Jennifer greens <M > * 1 Attachment, 639 KB Jennifer Attached are some questions that I have with respect to my review of the financials of IGY-AYH ST Thomas Holdings, LW. Thank you Harry (MKT OSaf (639 Ica EFTA01126153 February 11, 2013 Dear Jennifer, I have reviewed the financial information that you have provided for IGY-AYH St Thomas Holdings, LLC (ICY) and have the following questions and requests for additional information: 1. UplandRevenues and Accounts Receivable - Please provide a schedule of the following: a) Schedule of current vacancies - please include square footage of rental space and asking price per square footage. b) Schedule of rental income written offin 2012, 2011and 2010. c) Aged accounts receivable report as of December 31, 2012. d) Please provide a detailed schedule of bad debt expense/write offs for 2012, 2011and 2010. e) 2012 provision for doubtful accounts. f) CAM i. Provide calculation of CAM charges for 2012,2011, 2010. ii. Provided total square footage chargeable for CAM. 2. ManagementFees- Please provide a detailed fee calculation of management fees for years ending December 31, 2012, 2011 and 2010. 3. Personnel - Please provide a detailed list of employees indicating salary costs, benefits and job descriptions. 4. Capital improvements and repairs and maintenance -Please provide the following; detailed list of capital improvement to the property over the last 3 years, schedule of repairs and maintenance expenses over the last 3 years and detail any other capital improvements to be performed in the next year other than the budgeted painting of the facilities. In addition did IGY perform any cost segregation studies? S. he/ - Please provide a copy of the fuel purchase contract and a detail of fuel purchases for 2012, 2011and 2010. 6. f2Mpermit - Please provide a copy of CZM permits. EFTA01126154  7. Ben ficial leasehold - Please provide an explanation as to the nature of the asset per Note 5 of the 2011 financial statements. 8. Deferred Financing Cog- Please provide a schedule of mortgage acquisition costs incurred during financing of 2007. 9. pent Expense - Please provide a detailed schedule of components of rental expense. Please explain the nature of these expenses. 10. other Expenses - Please provide the detail of other expenses in the audited financial statements. 11. Note Payable - Please provide a copy of the mortgage note. In addition, is the mortgage securitized, are there prepayment penalties and can the mortgage be modified/ 12. - Please provide a detail of the benefits IGY received under its EDC certificate. Please provide a copy of EDC certificate and it's conditions. 13 ProfessionalFees - Please provide a description of the fees and to whom they were paid to for the last 3 years. 14.GrasiReCgiaLtZatt - Please provide a computation of the gross receipts tax, indicating the revenues subject to this tax and the EDC exemption amount 15.Partnership Tax Returns- Please provide a copy of the partnership tax returns for 2007, 2008, 2009, 2010 and 2011. When do you anticipate filing the 2012 return? 16.Partner Capital Amounts - Please provide a detailed schedule of capital accounts, showing increase and decreases, for each partner from inception through December 31, 2012. 17.Distributionx - In 2011 the Company made partnership distributions of $500,000. What are the Company's plans for future distributions and if so will they be made annually, quarterly or monthly. Please advise. Your prompt response is greatly appreciated. Sin rely, Pt.\ H rry B le EFTA01126155  From: Harry Beller a: Subject: Re: RE: Date: February 4, 2013 1 51 19 PM EST To: "Greene, Jennifer" Thanks do you also have a statement of cash flows On Feb 4, 2013, at 1:31 PM, Greene, Jennifer wrote: Please find attached an unaudited balance sheet. lam copying Tom Mukamal, IGY's President, on this email to answer your distribution question as he has been working with Mr. Epstein's attorneys regarding the painting project Original Message From: Harry Beller [mailto Sent Monday, February 04, 2013 1:09 To: Greene, Jennifer Subject: Jennifer please send me a balance sheet as of December 31, 2012. Also, is Jeffrey getting distributions . Please call to discuss thanks Harry This message. and any attachments hereto, is confidential and intended exclusively for the use of the individual or entity to whom it is addressed. This communication may contain information that is confidential, proprietary, privileged, subject to a confidentiality and/or non-disclosure agreement, or otherwise exempt or protected from disclosure (either by contract or under applicable law). If you are not the intended recipient, you are hereby notified that printing, retaining, reproducing, copying, disclosing, disseminating or using this message or any Information contained herein (including any reliance thereon) is strictly prohibited. If you have received this message in error, please contact the sender immediately and destroy the message (including any attachments) and any copies in their entirety, whether in electronic or hard copy format. Nothing contained in this e-mail shall be considered a legally binding agreement, amendment or modification of any agreement with Island Global Yachting LTD or any of its affiliates, each of which requires a fully executed agreement to be received by Island Global Yachting LTD or such affiliate. <AYH BS 12.31.12.xlsx> EFTA01126156  From: Harry Beller ‹ > Subject: Re: RE: Date: February 4, 2013 10:47:40 AM EST To: "Greene, Jennifer" Thanks do you have the detailed schedule that you sent me as of October 2012. Please call me thanks Harry thanks Harry On Feb 4, 2013, at 10:42 AM, Greene, Jennifer wrote: Per your request, attached are the 2012 results for American Yacht Harbor. These are unaudited and subject to change. You can click on the "+'s" to see the individual months. I formatted it to show the months Oct, Nov and Dec since you were most concerned about those in your last email. ----Original Message-- From: Harry Beller Imailto: Sent: Monday. February 041.11 9/1. 1 To: Greene, Jennifer Subject: Jennifer please call me at thanks Harry This message, and any attachments hereto, is confidential and intended exclusively for the use of the individual or entity to whom it is addressed. This communication may contain information that is confidential, proprietary, privileged, subject to a confidentiality and/or non-disclosure agreement, or otherwise exempt or protected from disclosure (either by contract or under applicable law). If you are not the intended recipient, you we hereby notified that printing, retaining, reproducing, copying, disclosing, disseminating or using this message or any information contained herein (inducing any reliance thereon) is strictly prohibited. If you have received this message in error, please contact the sender immediately and destroy the message (including any attachments) and any copies in their entirety, whether in electronic or hard copy format. Nothing contained in this e-mail shall be considered a legally binding agreement, amendment or modification of any agreement with Island Global Yachting LTD or any of its affiliates, each of which requires a fully executed agreement to be received by Island Global Yachting LTD or such affiliate. <AYH 2012.xlsn EFTA01126157  From Harry Beller a> Subject: Date: February 4, 2013 1 0858 PM EST To: jennifer greene Jennifer please send me a balance sheet as of December 31, 2012 Also, is Jeffrey getting distributions Please call to discuss thanks Harry EFTA01126158  From Harry Beller Subject: Re: AYH Date: February 4, 2913 10 34 10 AM EST To: "Greene. Jennifer" Jennifer please send me the attached schedule updated with November and December 2012 actua's Thanks Harry On Dec 3, 2012, at 3:36 PM, Greene, Jennifer wrote: Please and attached the 2012 forecast in debt and by month. From: Greene, bender Seen: Monday, December 03, 2012 2:29 PM To: 'Harry Beller Cc: Muttons* Thomas Subject: RE: AYH Harry- see attached for the 2010 audit. I have someone running a monthly forecast for you for 2012. We do not have a forecast for 2011, as that year is closed and over. lam sure you can appreciate that a forecast h forward-looking. After the year is over, we report ACT UALS. Not forecast. From: Many Begeerce M1.1.11 Sent Monday, , 10- AM To: Greene, lent Subject AYH Jennifer please send me a similar schedule for 2011 and 2012 and the audited financials for year ended 2010 thanks Harry This message, and any attachrnenb hereto, is confidential and intended exclusively for the use of the individual or entity to atom it is addressed. This communication may contain information that b confidential, proprietary. privileged, subiect to a confidentiality andor non-disclosum agreement, or otherwise exempt or protected from disclosure (either by contract or under applicable law). If you are not the intended recipient. you are hereby notified that printing, retaining, reproducing, copying, disclosing, disseminating or using this message or any Information contained herein (including any reliance thereon) is strictly prohibited. If you have received this message in error, please contact the sender Immediately end destroy the message (including any attachments) and any copies in the entirety, whether in electronic or hard copy format. Nothing contained in this e-mail shall be considered a legally binding agreement, amendment or modification of any agreement with Island Global Yachting LTD or any of its affiliates, each of which requires a fully executed agreement to be received by 'sand Global Yachting LTD or such affiliate <AYH Forecaster 2012.xlsx> EFTA01126159  From: Harry Beller Subject: Re: RE: RE: Date: February 4, 2013 10 57 14 AM EST To: "Greene, Jennifer" Jennifer Do you have a schedule showing actual totals for 2011 and 2012 side by side (similar to the schedule that you sent as of October 2012) thanks Harry On Feb 4, 2013, at 10:48 AM, Greene, Jennifer wrote: No, that was a forecast schedule. The year is over so we have actuals, which is what I just sent you. I cannot call as I am in meetings this morning. Original Message-- From: Harry Beller [math° Sent: Monday, February 04, 2013 10:48 AM To: Greene, Jennifer Subject: Re: RE: Thanks do you have the detailed schedule that you sent me as of October 2012. Please call me thanks Harry thanks Harry On Feb 4, 2013, at 10:42 AM, Greene, Jennifer wrote: Per your request, attached are the 2012 results for American Yacht Harbor. These are unaudited and subject to change. You can click on the '+'s* to see the individual months. I formatted it to show the months Oct Nov and Dec since you were most concerned about those in your last email. Original Message..... From: Harry Beller (mailto: Sent: Monday, February 04, 2013 10:07 AM To: Greene, Jennifer Subject: Jennifer please call me at thanks Harry This message, and any attachments hereto, is confidential and intended exclusively for the use of the individual or entity to EFTA01126160  From: Harry Beller Subject: AYH Date: December 3, 2012 10 24 43 AM EST To: Jennifer greene 1 Attachment, 183 KB Jennifer please send me a similar schedule for 2011 and 2012 and the audited financials for year ended 2010 thanks Harry EFTA01126161  From: Harry Beller Subject: Re: estimated taxes Date: November 28, 2012 4:17:41 PM EST To: •Greene, Jennifer thanks On Nov 28, 2012, at 4:12 PM, Greene, Jennifer wrote: Harry, Please see attached for estimated tax numbers for 2012 for Mr. Epstein's investment in IGY-AYH St Thomas Holdings LLC. Please note that we we currently reviewing potential accelerated depreciation options that may change this estimate, with the result being that Mr Epstein could have a lesser amount of taxable income or even a taxable loss for 2012. The results of those analyses will not be ready until closer to year-end. Origins Message---- From: Harry Beller (mailto Sent: Wednesday, November 28, 2012 1:02 PM To: Greene, Jennifer Subject: Re: estimated taxes Thanks It will be great if I could have it today Harry On Nov 28, 201Z at 12:58 PM, Greene, Jennifer wrote: Hi Harry, Hope you are doing well. I will work on pulling something together right now for Mr. Epstein. Original Message From: Harry Beller Imago Sent: Wednesday, November 28, 2012 12:48 PM To: Greene, Jennifer Subject: estimated taxes Jennifer How are you? Please send me estimated tax numbers for 2012 for Jeffrey Epsteins investment in IGY-AYH St Thomas Holdings LLC. I can be reached at or by email thanks Harry This message, and any attachments hereto, is confidential and intended exclusively for the use of the individual or entity to whom it is addressed. This communication may contain information that is confidential, proprietary, privileged, subject to a confidentiality and/or non-disclosure agreement, or otherwise exempt or protected from disclosure (either by contract or under applicable law). If you are not the intended recipient, you are hereby notified that printing, retaining, reproducing, copying, disclosing, disseminating or using this message or any information contained herein (including any reliance thereon) is strictly prohibited. If you have received this message in error, please contact the sender immediately and destroy the message (including any attachments) and any copies in their entirety, whether in electronic or hard copy format. Nothing contained in this e-mail shall be considered a legally binding agreement, amendment or modification of any agreement with Island Global Yachting LTD or any of its affiliates, each of which requires a fully executed agreement to be received by Island Global Yachting LTD or such affiliate. EFTA01126162  From: Harry Beller < z• Subject: Re: Distribution from IGY-AYH St. Thomas Holdings LLC Date: October 24. 2011 1026:51 AM EDT To: "Greene. Jennifer" Jennifer please wire funds as follows: JPMorgan Chase Bank ABA: 021000021 A/C It A/C Name: Jeffrey Epstein Please send me backup to the calculation of this wire as well as financials along with budgets. Also, please let me know when you wire these funds. Thanks Harry Dear Mr. Belkr, The attached letter Is being sent to Mr. Jeffery Epstein via certified mail informing him of a prolate share of a 5500,000 distribution from iGY-riVH St. Thomas Holdings ti.C. The payment date for this distribution is October 3). 2011. Would you kindly Inform me if he would prefer to receive a check or a wire for distribution of these funds? if he would Ike to receive a wire, please provide bank account details. Thank you in advance for your quick response. Annear driers EvP - Fleenor Island Gebel Yaae 142 ialiesbne Way P P,.r o:nothr CM,artnintmen, Wore }NJ Milt In, WINi --A This message, and any attachments hereto, is confidential and intended excknnrely for the use of the individual or entity to whom k is addressed. This communicabon may contain information that is confidential, proprietary. privileged, subject to a confident/ON ands non-discbsure agreement, or otherwise exempt or protected from disclosure (either by contract or under applicable law). If you are not the Intended recipient, you are hereby notified that printing, retaining, reproducing, copying. disclosing, disseminating or using this message or any information contained herein (ncluding any reliance thereon) is strictly prohibited. If you have received ens messier in error, please contact the sender erepatfotely and destroy the message (including any attachments) and any copies in their entirety, whether in °ketonic or hard copy lomat. Nothing contained in this e-mail shall be considered a legally binding agreement, amendment or modification of any agreement with Island Global Yachting LTD or any of its affiliates, each of which requires a fully executed agreement to be received by Island Global Yachting LM or such affiliate. <DOC.PDF> EFTA01126163  From: Harry Beller Subject: Re: RE: Date: June 7, 2011 1:15:17 PM EDT To: 'Greene. Jennifer Jennifer thanks this was very helpful. please call me at 646-862-4814. I have a few questions thanks Harry On Jun 6, 2011, at 7:46 PM, Greene, Jennifer wrote: Please find attached cash flow statements for 2010 and for the first three months of 2011; capex additions for 2010; and our detail of what we have committed to spending in capital per our EDC application for the periods 2011 - 2015. While we have committed to a minimal capex threshold of $210k, things wise which are unplanned. For example, we just completed an unbudgeted roof repair in 2011. We can discuss further tomorrow. Thanks. Original Message----- From: Harry Beller (mailto: Sent: Monday, June 06, 2011 5:04 PM To: Greene, Jennifer Subject: Jennifer please send me 1) a cash flow statement for 2010 and 2011 2) capital improvement schedule for 2010 and 2011 3) an analysis of the $1 mil to $3 million deferred maintenance range thanks Harry <AYH information.PDF> EFTA01126164  Flaw /460Y 84040 &Med: Dee Aria 6.2011 1I 44 26 AM EDT To. trait gter• Angler Mow an yet/ I mad updalaO valuations. pal and pot:bona on IGY-AYM SI Tomas. Please call ma en &min Mks Many EFTA01126165  From: Harry Beller c Subject: Re: AYH Information Date: June 6, 2011 2:41:08 PM EDT To: •Greene, Jennifer <IMOMIIIM Thanks please call me at - I have a few quick questions thanks Harry On Jun 6, 2011, at 1:56 PM, Greene, Jennifer wrote: Please find attached the requested information for American Yacht Harbor. The first file is an income statement for year ended 2010. The second file is projected income for 2011. You had also asked that I estimate deferred capital additions needed at the property for use in a valuation analysis. 'would use a range for deferred maintenance of $1 ma to $3 ma, remembering that Mr. Epstei's ownership percentage Is 50% You had also asked that I provide a range of op rates for you to use in your analysis. I would submit to you a range anywhere from 6% to 11%. Please let me know if you need further information <AYH • 12.31.10.xls>cAYH Forecast 2011.xisx> EFTA01126166