183 COLUMBIA HOLDING, LLC 815 Fifth Avenue New York, New York 10065 May 9, 2014 Re: 183 Columbia Heights Brooklyn NY 11201 Dear Partner, The Riverview closed on the last unit this week. I am most pleased to make this distribution of profits on our investment and development of 183 Columbia Heights, Brooklyn, New York. We are currently holding back a portion of funds to pay off the balance owed to the contractors and vendors; in addition, we will need to deliver a Certificate of Occupancy. Our hope is to make a final distribution to you within the next six months. We will issue a preliminary accounting report in the next 45 days, and once all monies have been distributed, a final accounting report. Please contact me with any questions at Thank you again for your trust and confidence, c-+ David J. Mitchell 815 Fifth Avenue New York, NY 10065 (1 • (F) - m EFTA00613826

FIRST REPLISLIC BANK NEW YORK. NY loom root • Malt /114.111/1 rn IAA I AMIN. 183 COLUMBIA HOLDINGS U-C PAYTOTHE ORDER OF FT Real Estate Inc. 1363 MV4a 05/08[14 • $ —333,333.24 CM Three Hundred Thirty-Three Thousand Three Hundred Thirty-Three and 24/100 DOLLARS FT Real Estate Inc. MEMO Profit Distribution w MM<StaMAIltWNSE EFTA00613827