EFTA00858452.pdf

From: "Jeffrey E." <[email protected]> To: Brad Wechsler Subject: Re: revised Picasso agreement Date: Mon, 27 Apr 2015 15:18:34 +0000 Not todAy On Monday, April 27, 2015, Brad Wechsler < > wrote: Hi jeffrey-i hope you were able to shrug off the "bugging me" reference....it was really for heather's benefit who I was bugging... On dante, shld we talk? Understand the trusts each buying an undivided 25% interest. Other issues like future contribution to the art partnership? Also, heather seems to feel that leon was equivocal about using a 1031 for the calder. Originally, he said he'd have losses to use against the gain and no 1031...then he brgt up that maybe we shld use a 1031...just spoke to 1db and he confirmed he wld like the "optionality" of using a 1031. Issues? Again, sorry if my flippancy yesterday bothered you... In the office if you want to speak. B Sent from my Verizon Wireless BlackBerry From: Heather Gray Date: Mon, 27 Apr 2015 12:30:49 +0000 To: Jeffrey Epstein ([email protected]@gmail.com> Cc: Brad Wechsler< >; Richard Joslin< Subject: revised Picasso agreement Jeffrey, Attached is the revised Agreement of Sale for the Picasso, along with a redline showing the changes I made. I have included New York sales tax in the Agreement at the New York City rate because I am assuming the work will come to Park Avenue and not to Bedford. Sales tax will be paid in full in February 2016 when title to and possession of the work pass to Leon, assuming the Picasso is in substantially the same condition at the end of the MoMA exhibition in February 2016 as it is now. Rich researched installment sales this morning, and it is clear under the Regulations that sales tax becomes due at the time of transfer of title to or possession of the work. Best, Heather Heather Gray Elysium Management LLC EFTA00858452  445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00858453