EFTA02708024.pdf

From: Harry Bel 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 Harry EFTA_R1_02108266 EFTA02708024  From: Harry Beller /Mae Subject: Date: March 1, 2913 11:31.O4 AM EST To: jennifer greene Cc: Rich Kahn Jennifer Please confirm that Jeffrey Epstein will receive a 25% discount ott retail for fuel purchases for his boat. We plan on fueling boats today. Thanks Harry EFTA_R1_02108267 EFTA02708025  From: Harry Beller Subject: AYH Date: February 27, 20 • • To: jennifer greene Jennifer Could AYH prepay the current $15.3 million loan facility at any time. If so are there any fees or penalties to prepay. please advise thanks Harry EFTA_R1_02108268 EFTA02708026  From: Harry Beller Subject: AYH Capital Accounts Date: February 27, 2013 11:17:26 AM EST To: jennifer greene <JGreeneeigyrnarinas.com> 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 4,691,868. 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 EFTA_R1_02108269 EFTA02708027  From: Harry Beller Subject: IGY-AYH ST Thomas Holdings, LLC Date: February 11, 20131127:57 AM EST To: jennifer greeneill • 1 Attachment, Jennifer Attached are some questions that I have with respect to my review of the financials of IGY-AYH ST Thomas Holdings, LLC. Thank you Harry <KIWI! cis- ral (6111;ED EFTA_R1_02108270 EFTA02708028 February 11, 2013 Dear Jennifer, I have reviewed the financial information that you have provided for IGY-AYH St Thomas Holdings, LLC (IGY) and have the following questions and requests for additional information: 1. _pland Revenues 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 off in 2012, 2011 and 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, 2011 and 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. Management Fees - 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 ICY perform any cost segregation studies? S. Fuel - Please provide a copy of the fuel purchase contract and a detail of fuel purchases for 2012, 2011and 2010. 6. CZM permit - Please provide a copy of CZM permits. EFTA_R1_02108271 EFTA02708029  7. Beneficial leasehold - Please provide an explanation as to the nature of the asset per Note 5 of the 2011 financial statements. 8. Deferred Financing Cost - Please provide a schedule of mortgage acquisition costs incurred during financing of 2007. 9. Rent 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. EDC- 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. Professional Fees - Please provide a description of the fees and to whom they were paid to for the last 3 years. 14. Gross Receipts Tax - 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 Accounts - Please provide a detailed schedule of capital accounts, showing increase and decreases, for each partner from inception through December 31, 2012. 17.Distribotions- In 2011 the Company made partnership distributions of 5500,000. 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. Sin7rely, HArry Bile EFTA_R1_02108272 EFTA02708030  From: Harry Beller <M=a Subject: Re: RE: Date: February 4, 2013 1:51:19 PM ST 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. I am 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 Mess From: Harry Beller Sent: Monday, February 04, 2013 1:09 PM 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> EFTA_R1_02108273 EFTA02708031  From: Harry Beller Subject: Re: RE: Date: February 4, 2013 10 • 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 Mess From: Harry Belletrillin... Sent: Monday, February , 1 To: Greene, Jennifer Subject: Jennifer please call me a 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 2012.xlsx> EFTA_R1_02108274 EFTA02708032  From Harry Beller Subject: Date: February 4, 2013 1 08 58 PM EST To: jenniter greene Jennifer please send me a balance sheet as of December 31, 2012. Also, is Jeffrey getting distnbutons Please call to discuss thanks Harry EFTA_R1_02108275 EFTA02708033  From: Harry Beller Subject: Re: AYH Date: February 4, 2013 10:34:10AM EST To: "Greene, Jennifer" glimilimm. Jennifer please send me the attached schedule updated with November and December 2012 actuals thanks Many On Dec 3, 2012, at 3:36 PM, Greene, Jennifer wrote: Please find attached the 2012 forecast in detail and by month. From: Greene, Mender Sent: Monday, December 03, 2012 2:29 ON To: 'Harry Bean' Cc: Menai, Thomas Subject RE: AYH Marry- 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. I am sure you can appreciate that a forecast is forwarchlooking. After the year is over, we report ACT UALS. Not forecast. From: Many Sent Monday, Dec To: Greene, Jennifer Subject: AYH Jennifer please send me a similar schedule for 201) and 2012 and the audited financials fur year ended 2010 Thanks Harry ligs message, and any attachments hereto, is confidential and Intended exclusively la the use of the intividual or entity to *tom It is addressed. TNs communication may contain Information Owl's confidential, proprietary, privileged. euteect to a confidentiality andfor norwasciosua agreement, or otherwise exempt or protected from disclosure (either by contact or under applicable law). If you are not the intended recipient, you are hereby notified that pnnting, retaining, reprodtEing, 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 'notification of any agreement with Island Global Yachting LTD or any of is affiliates, each of which requires a fully executed agreement to be received by Island Global Yachting LTD or such affiliate. <AYH Forecaster 2012.xlsx> EFTA_R1_02108276 EFTA02708034  From: Harry Beller Subject: Re: RE: RE. Date: February 4, 201310:57:14 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 Me ---- From: Harry Belle Sent: Monday, Febru y . 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 Mess From: Harry Seller Sent:Monday, February 04, 2013 10:07 AM To: Greene, Jennifer Subject: Jennifer please call me thanks Harry This message, and any attachments hereto, is confidential and intended exclusively for the use of the individual or entity to EFTA_R1_02108277 EFTA02708035  From: Harry Beller Subject: AYH Date: December 3, 2012 1024'43 AM EST To: jennifer greene P 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 AYHT110f wbx in .111 EFTA_R1_02108278 EFTA02708036  From: Harry Beller Subject: Re: estimat 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 are 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. Original Messa From: Harry Beller Sent: Wednesday, vem er , : To: Greene, Jennifer Subject: Re: estimated taxes Thanks It will be great if I could have it today Harry On Nov 28, 2012, 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 Mess From: Harry Beller=IMME Sent: Wednesday, November 28, 2012 12:48 PM To: Greene, Jennifer Subject: estimated taxes Jennifer How are you? Please send me e ' bers 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. EFTA_R1_02108279 EFTA02708037  From: Harry Beller Subject: Re: Distribution from IGY-AYH St. Thomas Holdings LLC Date: October 24, 2011 1 • • To: "Greene, Jennifer" Jennifer please wire funds as follows: JPMoraan Chase Bank ABA A/C 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. Beller, The attached letter is being sent to Mr. Jenny Epstein We certified mail Informing him of a pro-rata share of a $500,000 distribution from IGY-AVH St. Thomas Holdings U.C. The payment date for this distribution Is October 31, 201L Would you kindly inform me if he would prefer to receive a check or a wire for distribution of these funds? If he would like to receive a wire, please provide bank account details. Thank you in advance for your quick response. Janata Genre EVP Forme land OWN Tatham; 112 webs Way tar P fiefra can ,aeeeranaeeMbeywMedInaw.r This message, end any attachments hereto, is confidential and intended exclusively for the use of the individual or entity to whom it Is addressed. This cornmeal:0bn may cornin information that is confidential. proprietary. privieged, subject toe confidentiality and/or non-disclosure agreement, or ofhen/nee exempt Of protected from disclosure (either by contract or under applicable taw). If you are not the intended recipient. you are hereby not/led that printing, retaining. reproducing, copying, disdain. disseminating or using this message or any information contained herein including any reliance thereon) a strictly prohibited. II you have received this message in error, please contact the sender immediately and destroy the message (inducing any attachments) and any copies In their entirety. whether In electronic or hard cow format. Nothing contained in this e-mail shill be considered a legally binding agreement, amendment or modification of any agreement with bland Global Yachting LTD or any of its affiliates, each of which requiem a fully executed agreement to be received by Island Global Yachting LTD or such affiliate. <DOC.PDF> EFTA_R1_02108280 EFTA02708038  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 Messall- From: Harry Beller 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> EFTA_R1_02108281 EFTA02708039 $ubloci Nan' edisi Dam An 6. 2011 11 A4 26 AM EDT To serwler gone arneer Hoe es you need W:6.22 almstlatis. pal and projealons cm 1G Y.AYH 9 Thcm6s Plano cal me 12 Maas tanks Hony EFTA_R1_02108282 EFTA02708040  From: Harry Beller Subject: Re: AYH information Date: June 6, 2011 2:41:06 PM T To: 'Greene, Jennifer Thanks please cal me 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 Me 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. I would use a range for deferred maintenance of S1 ma to $3 me, remembering that Mr. Epstein's ownership percentage is 50%. You had also asked that I provide a range of cap rates for you to use In your analysis. I would submit to you a range anywhere from 6% to 11% Please let me know it you need further information <AYH - 12.31.10.xls,<AYH Forecast 2011Jdsx> EFTA_R1_02108283 EFTA02708041