----- Forwarded Message ----
From: "PNemcova@AglowProperties.com" PNemcova@AglowProperties.com
To: Jeffrey Epstein jeeproject@yahoo.com; Jeffrey Epstein sarah@ellmax.com
Sent: Tuesday, December 4, 2007 9:28:57 AM
Subject: Fw: Masarykovo Riverfront Building
!!! Wow!!! Look at this views!!!
Let us light up your life!
Lots of love, light, and happiness,
Petra
Petra Nemcova
Partner
Aglow Properties
160 Riverside Blvd. #509
New York, NY 10069
646.761.4337
-----Original Message-----
From: "Ron Schnackenberg" RSchnack@AglowProperties.com
Date: Tue, 4 Dec 2007 09:05:11
To:PNemcova@AglowProperties.com
Subject: Masarykovo Riverfront Building
Petra,
It is not currently for sale and the owner is looking to sign a contract for a refurbishment project and create “high end” residential units and sell them off individually. The property has:
- Size: 1490sqm net sellable
- Location: Masarykovo 22, river front in Prague 1, opposite to Zofin Villa. Stunning river, castle and Charles Bridge views
- Building: 8 storey (7+1), 13 residential units, 1 large commercial/retail unit (ground floor + basement).
- Project: refurbishment of the units with the same layout, new lift, deep renovation of common areas and façade. Top standard finishing. The attic floor will offer three duplex units
- Expected price (once refurbished): approx. 6.500/sqm average
Comments:
· The contract with the building company is not yet signed
· The owner intends to develop the project and sell it (in approx. 1 year) at the highest possible price (the expected € 6.500/sqm is high but still a reasonable price)
· The property is already divided in units (extremely difficult at this stage to change the layout, but for the last floor) at the cadastral office.
· We might convince them to sell in case they received a very attractive offer
Possible Actions:
- To bid for the building “as is”. The owner would sell a new SPV. They might accept an offer that arrives this week (best case scenario!!!) with the following structure:
a. Price: not less than € 5.000/sqm (as is)
b. Payment: immediate 10% after offer acceptance, the rest at purchase contract signature (50% into escrow account till shares registration, 50% free)
- To bid for the refurbished units/building. In that case they would prepare a pre purchase contract and sell the building/units once they finish the works, but that would mean that the buyer accepts the existing project.
As said, I’m not really sure that they would accept either one of the option, but I do not want to miss the opportunity.
Ron Schnackenberg
Partner/Licensed Real Estate Broker
AGLOW PROPERTIES
160 Riverside Blvd. #509
New York, NY 10069
646.761.4337
mailto:RSchnack@AglowProperties.com RSchnack@AglowProperties.com