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Date: Mon, Oct 26, 2015 at 7:08 PM Subject: draft To: Melanie Spinella , Brad Wechsler phaidon and art space. combined basis 96 million , ( reviewed with brad and joe.) . add ten for restructuring . basis 106. mi. subtract total sale price. for both, lets say approx $8-15m ._ leaving loss of between 90 and 98 million long term loss. . AMT rate 28% obama. tax 3.8% . city and state 12% total aprox43 %. tax rate. savings 38.7-44m 0:51 PM (15 hours ago) to me, Richard, Karen Good afternoon Removal of headers in Cabana’s | and 2 started today Dock Shelters proposed start date 16 Apr LSJ staff cottage and Sams kitchen and bath cabinets are due in this week. Have yet to schedule install. Will have estimate for GSJ Staff Cottage from EB by the end of the week Unable to contact Jimmy again regarding thIs project, Reached our Monday to schedule site meeting, got a - No Can Do - reply !!! Regards Brice Date: Mon, Oct 26, 2015 at 8:37 PM Subject: To: Brad Wechsler - = =—res—CSY Melanie Spinella - gain at 20 % not 28. . so total , 35.8%. taxrate. same for boat. and plane each around 10 m so total 7 m savings if both sold Date: Fri, Jun 3, 2016 at 5:56 PM Subject: To: Heather Gray (iii i 77> heather leon seems to not recall the issue of finding an alternative to the eschange agents resale cerificate. he didnt remeebr you suggesting a gallery instead. you mentioned that he did not want to get another gallery involved.? has any of the transactions been audited using this method , which even i find agressive. Date: Fri, Jun 3, 2016 at 3:02 PM Subject: RE: To: "jeffrey E." <jeevacation@gmail.com> Hi Jeffrey, As you will recall, we used this same exchange agent last year on the Calder 1031. At the time, we discussed the merits of using a gallery versus a commercial exchange agent and my recommendation to Leon was to use a gallery. | felt that there were advantages to using a commercial exchange agent instead of a gallery on the 1031 side (e.g., less likelihood of a breach of confidentiality, IRS familiarity with CDEC in the event of an audit, security of HOUSE_OVERSIGHT_023285