Epstein Secrets

and Octavia drawing [LDB owns 40% of this work. The appraised value shown is for the entire work.] 600.000 1,600.000 1.000,000 1,000.000 0 AP Narrows (Collateral) PICASSO, PABLO Paysage^ 2.500.000 3.500,000 1.000.000 1,000.000 0 Narrows (Collateral) PONTORMO (JACOPO CARUCCI) Study of a

ollateral) PICASSO. PABLO Femme nue (painting) (3YKD2) 11.000.000 30.000.000 19.000,000 19.000.000 0 EFTA00592228 ALL ART - 3/19/17 Owner Narrows (Collateral) Artist TURNER. JOSEPH WILLIAM MALLORD Title Goldau Basis 1,300.000 CHRISTIE'S 5/11/16 appraised value or purchase price +

750 0 0 0 Narrows CEZANNE, PAUL Bouteilles, Pots, Rechaud a Alcoa, Pommes - 10% undivided interest (pd no sales tax because Narrows traded-in Braque at 5 for 10% undivided interest in Cezanne worth 5) 5.000.000 5.000.000 0 0 0 Narrows CHUN, KWANG YOUNG Aggregation 05-J003' 125.000 125.

fore being sold. The Braque is owned by Narrows Holdings LLC (and is collateral on the Bank of America loan), so it would have to be distributed by Narrows to Leon and then contributed by Leon to the 2011 LLC in exchange for membership interests in the LLC. As indicated above, AP Narrows and the LDB 20

et sale price for the Giacometti is $30 million and the purchase price of the Cezanne figure study is also $30 million. The first columns on the AP Narrows spreadsheet show the basis in the Giacometti, the gain that would be deferred in an exchange and the NY sales tax that would be sheltered by operati

e both raise holding period questions. The Picasso is owned by APO-01, so it would have to be distributed to the LDB 2011 LLC before being sold. The Braque is owned by Narrows Holdings LLC (and is collateral on the Bank of America loan), so it would have to be distributed by Narrows to Leon and then co

get sale price for the Giacometti is $30 million and the purchase price of the Cezanne figure study is also $30 million. The first columns on the AP Narrows spreadsheet show the basis in the Giacometti, the gain that would be deferred in an exchange and the NY sales tax that would be sheltered by operat

efore being sold. The Braque is owned by Narrows Holdings LLC (and is collateral on the Bank of America loan), so it would have to be distributed by Narrows to Leon and then contributed by Leon to the 2011 LLC in exchange for membership interests in the LLC. As indicated above, AP Narrows and the LDB 20

e both raise holding period questions. The Picasso is owned by APO-01, so it would have to be distributed to the LDB 2011 LLC before being sold. The Braque is owned by Narrows Holdings LLC (and is collateral on the Bank of America loan), so it would have to be distributed by Narrows to Leon and then co

fore being sold. The Braque is owned by Narrows Holdings LLC (and is collateral on the Bank of America loan), so it would have to be distributed by Narrows to Leon and then contributed by Leon to the 2011 LLC in exchange for membership interests in the LLC. As indicated above, AP Narrows and the LDB 20

et sale price for the Giacometti is $30 million and the purchase price of the Cezanne figure study is also $30 million. The first columns on the AP Narrows spreadsheet show the basis in the Giacometti, the gain that would be deferred in an exchange and the NY sales tax that would be sheltered by operati

e both raise holding period questions. The Picasso is owned by APO-01, so it would have to be distributed to the LDB 2011 LLC before being sold. The Braque is owned by Narrows Holdings LLC (and is collateral on the Bank of America loan), so it would have to be distributed by Narrows to Leon and then co

chments to Heather's email below. Haze is just purchasing Giacometti for $25MM and Braque FOR $5MM. Two separate wires - $25MM with reference to AP Narrows for Giacometti and $5MM with reference to LDB 2011 LLC for the Braque. Sent from my iPhone Begin forwarded message: From: Heather Gray Date: Nov

. NY 10022 646-589-0315 From: jeffrey E. Sent: Tuesday, November 22, 2016 3:33 PM ; Darren Indyke < > I I Georges Braque Le Gueridon signed 'Braque' (on the reverse) oil on canvas 16 x 13 in. Painted in 1911 EFTA00592211 12Cozov✓ Alberto Giacometti I Figure moyenne H signed and dated 'A.

show this proposed exchange. If a buyer is not found for the Mondrian, the LDB 2011 LLC has identified a Schiele (the same one identified on the AP Narrows exchange above), a Picasso (Nue Endormie) and a Braque (Le Gueridon) as alternative works to be potentially used in the exchange in the combinations

e both raise holding period questions. The Picasso is owned by APO-01, so it would have to be distributed to the LDB 2011 LLC before being sold. The Braque is owned by Narrows Holdings LLC (and is collateral on the Bank of America loan), so it would have to be distributed by Narrows to Leon and then con

et sale price for the Giacometti is $30 million and the purchase price of the Cezanne figure study is also $30 million. The first columns on the AP Narrows spreadsheet show the basis in the Giacometti, the gain that would be deferred in an exchange and the NY sales tax that would be sheltered by operati

e both raise holding period questions. The Picasso is owned by APO-01, so it would have to be distributed to the LDB 2011 LLC before being sold. The Braque is owned by Narrows Holdings LLC (and is collateral on the Bank of America loan), so it would have to be distributed by EFTA00815395 Narrows to L

80.000 (65.000) 0 (65.000) 2011 LLC & Narrows CEZANNE. PAUL Bouteilles, Pots. Rechaud a Alcoa. Pommes (90% owned by 2011 LLC. 10% owned by Narrows) 11/23/2016 54.000,000 40,000.000 (14,000.000) 0 (14,000.000) AP Narrows CEZANNE. PAUL Portrait de Vallier de Prof if 11/23/2016 30.450,000

L'autobus 2/3/16 1/8/07 601,013 1.418,229 (817,216) 0 (817,216) 38,184,892 13,171,871 25,013,021 26,341,509 (1,328,488) 'Giacometti and Braque were each sold as part of 1031 exchanges, so the gain realized on the sale of each work will not be recognized until the Cezannes acquired in the ex

From: Richard Joslin Sent: Tuesday, May 27, 2014 5:14 PM To: Jeffrey E. Cc: lawrence delson; art Subject: LDB/ Narrows art - unrealized Attachments: UNREALIZED - PARTIAL AND OR PLEDGED TO CHARITY - NARROWS AND LDB.pdf, UNREALIZED - UNDIVIDED INTEREST - NARROWS AND

he a=t held as undivided interest from largest gain to largest loss. The Braque item listed first needs to have cost che=ked; there are two items by Braque with same name — one is pledged t= Met and the other is not. Cost includes sales tax and legal fees.&n=sp; A comprehensive review of capitalized co