EFTA00917018.pdf

From: "David Mitchell" • To: "Jeffrey Epstein" <[email protected]> Subject: Re: Thanks Date: Fri, 05 Aug 2011 11:28:37 +0000 Importance: Normal Yes,I am sending you a stacking plan ,in a few hours Right now the project is designed with a large duplex penthouse ,but we might separate them into two units They are "loft" style I am still negotiating to buy out the promote and hope to have that done today Sent via BlacicBerry from T-Mobile David Mitchell MITCHELL HOLDINGS LLC 815 Fifth Avenue New York NY 10065 From: Jeffrey Epstein <[email protected]> Date: Fri, 5 Aug 2011 11:11:00 +0000 To: David Mitchell< Subject: Re: Thanks what type of apts.. is there a penthouse? On Thu, Aug 4, 2011 at 5:03 PM, David Mitchell wrote: For calling me back , As I outlined there is 950,000 in investor unit on 21 e 26 th street We closed our deal in February and since then have received Landmark approval to extend the building one more floor We have also completed the demolition and have removed all the asbestos The 950,000 is part of the placement that I did with friends and family of 7,000,000 The deal is that after the mortgage debt is paid 100 percent goes to return of capital ,once that happens 75 percent goes to the investment group No fees are paid until return of capital There- after the development group receives the residual EFTA00917018  A quick snapshot is Mortgage 15.625 Debt 338,000 Equity 7,800,000 Square feet to sell 33,000 We plan to offer a white box unit at 1300 a foot And one finished unit at 1600 a foot (Comps are higher) I believe there is a sellout of over 36-38 million I also believe it will happen with in 12 months I think this is attractive because most of the risk of approvals and asbestos removal is behind No guarantees but should be good Sent via BlackBerry from T-Mobile David Mitchell MITCHELL HOLDINGS LLC 815 Fifth Avenue New York NY 10065 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 Jeffrey Epstein 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 EFTA00917019