EFTA00761794.pdf

From: David Stern To: Jeffrey Epstein <[email protected]> Subject: london house Date: Thu, 25 Mar 2010 17:40:56 +0000 My friend (billionaire family) is looking for a house and I told him to let me know what he sees: Dear David, I have now seen 7 houses in Mayfair and Belgravia and here is my verdict: Grosvenor Street: This property is unbelievable since it is a freehold building with a five windowed front in the middle of Mayfair. The living area of around 20,000 sq.ft stretches over 5 floors and includes some pretty substantial rooms. The living room for example stretches over 3,200 sq.ft which I have not seen in London before. The property has a lift, a main staircase and a separate staircase for the staff. An impressive entrance and a very nice interior, the house was completely refurbished about 2 years ago and the decor has been designed by Ralph Lauren designers. Having said that, it looks very NYC. Currently there are 4 guest rooms, a master suite stretching over 3,000 sq.ft and a staff apartment in the basement with 2 bedrooms. There is a Spa/Gym/Sauna and plunge pool in the basement but no swimming pool. The outside space is very nice too. The owner, Maurice Salem, a Lebanese born Hedgie (Wharton Asset Management) just moved with his wife and 3 children to Monaco for the obvious reasons. He is asking £50m and it has been confirmed that no one has seen the place to date, and it will not come on the market for the obvious Middle Eastern, Russian or Chinese buyers. I had to pull the family office card and show my passport to be granted access to show that I could qualify as a serious buyer. Since it is not on the market really, there is no marketing material whatsoever. They will not accept to take any pictures nor to send out floor plans. The only way really to check it out is to have a look at it. 115 Eaton Square: This house is a typical Eaton Square house that has not been refurbished for about 6 years. Having said that, it is pretty impressive but a different story to Grosvenor Street. I believe you have seen the picture I have send you last time. The place needs some cosmetic work. Nothing substantial but I would put wooden floors throughout, a new kitchen and bathrooms etc. The mews house on the back could be used as staff accommodation and has a parking space. It would have to be completely refurbished though. The seller just got divorced a year ago and has been living in the house himself for a year now so he is ready to sell. He is asking £27m for the house, and I think you would need to spend around £4m to make this place amazing. Others: I have seen other houses on Eaton Square (2 interlinked) and Wilton Crescent (interlinked as well), No. 1 Belgrave Square which is still owned by the Saudi Royal Family (the Sheikh who died last year used it when he was in town) and one house on Kensington Palace Gardens (Billionaires Row) owned by a German arms dealer (who could that be???) but they all need complete refurbishment except for the Sheikhs. There are two more houses on Billionaire's Row but they are starting at £110m. My favorite, the Nepalese embassy has 3 people waiting for it at £150m. Unfortunately the Royal Family has no say anymore; I always wanted that house for myself. There is only one more on Belgrave Square but it is done Lebanese style and costs £80m. Bottom line: Grosvenor Street is a real trophy house, and definitely one of the top 20 houses in central London. The EFTA00761794 standard of building and interior seems 10 times better than 38 Belgrave Square, a different story really. It perfectly lends itself to entertain, show an art collection and impress. I would move in there tomorrow. If I were actively looking at that budget, I would buy it. Very very nice! If we meet for Bfast on Saturday, I can pass by with you to show you the outside. Best, Rupert This message is confidential. It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake please let us know by reply and then delete it from your system; you should not copy the message or disclose its contents to anyone. Opinions, conclusions and other information in this message that do not relate to the official business of Asia Gateway Ltd. shall be understood as neither given nor endorsed by it. Asia Gateway Ltd. Michelin House 81 Fulham Road London SW3 6RD UK Tel: Fax• EFTA00761795