From: ' To: "Jeffrey Epstein"t Subject: Re: PB real estate deal Date: Mon, 20 Jan 2014 18:24:46 +0000 Yea. Thanks. Connected by DROID on Verizon Wireless Original message From: Jeffre E stein < To:" Sent: Mon, Jan 20, 2014 16:10:22 GMT+00:00 Subject: Re: PB real estate deal Sounds good. , speak wed? On Monday, January 20, 2014, < > wrote: I spoke with Steve on Sunday. We need to close on 124 Parc Monceau by the end of the month. We are at least $1.5M in the money in that position and quite possibly $2M. Would you be willing to provide the acquisition capital or arrange credit of $4.8M by the end of the month with interest and principal due in 1 year. Steve and I would carry maintenance, insurance and taxes by paying a rent of $15,000 per month. I believe 124 Parc Monceau will resell by September (with fluffing and some tweaking). Steve and I can arrange that. Jim McCann already has a California couple coming back for a second view in a few weeks @ an ask of $7.9 ($2.9 M over our contract cost). They ranked it as their first choice out of several houses they looked at up to $14M. (They need to be resident here by next fall.) In the 7s it is the least expensive lakefront by 20%. At our contract buying price of $4,975,000, it is $4.2M cheaper (40%) than the next more expensive lakefront — a mediocre two- story Bermuda @ $9.1M. Title could be in an LLC organized for the purpose with membership and voting control in a trust you or a designee would control. Steve and my interest could be contractual as a profit participation or through a trust. The first cash out would repay capital, then accrued preferred return on cash invested, then Steve's and my carry contribution, then profit distribution. We would rely on you to price the funds and suggest a 50/50 split of profits after a preferred return of the accrued interest and investment. In the meantime, I would try to firm up the short sale at 1700 S Ocean this week and discuss that with yo