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LAW OFFICES OF
VICTOR A. WORMS
48 Wall Street, 750
NEW YORK, NY 10005
TELEPHONE: (212) 374-9590
FACSIMILE: (212) 591-6188
WEB: VICTORAWORMSPC.COM
WRITERS EMAIL
VWORMS@VICTORAWORMSPC.COM
October 21, 2021
VIA ECF AND EMAIL
Hon. Paul I. Marx
Justice
Supreme Court of the State of New York
County of Rockland
1 South Main Street
New City, New York 10956
Re: Hello Living Developer Nostrand LLC, et. al. v. 1580 Nostrand
Mezz, LLC, et. al.
Index No. 034885/2021
Dear Justice Marx:
My office is co-counsel for the plaintiffs in the above-referenced action. I write to raise
three issues with the revised proposed order, which was submitted today by the attorneys for the
defendants, and to submit the plaintiffs’ counter proposed order.
In the first instance, the defendants have proposed that the Court include in the order that
the plaintiffs owe $4.5 million on the mezzanine loan without submitting to the Court any
documentary proof that this amount is correct.
The Court will recall that the Notice of Sale, which was issued by the defendants on July
14, 2021, and which scheduled a proposed sale of the Collateral for September 2, 2021 indicated
that the amount due on the mezzanine loan up and until September 2, 2021, was $3,296,266.22.
(A copy of the first page of the Notice of Sale is annexed hereto as Exhibit “A”).
A little more than a month and half after September 2, 2021 and following the Court’s
determination on October 18, 2021 denying the plaintiffs’ application for a preliminary
injunction, the defendants are essentially claiming that more than $1.2 million have been added
to the $3,296,266.22, due on the mezzanine loan.
Before an amount of $4.5 million allegedly due on the mezzanine loan is confirmed in an
order by this Court, the defendants should be required to provide to the Court, and to the
plaintiffs, documentary proof as to the calculation of this amount so that it can be verified by the
Court and the plaintiffs.
Separately, in their motion for a preliminary injunction, the plaintiffs argued, among
other things, that the proposed UCC foreclosure sale was commercially unreasonable because the
Notice of Sale only provided for 51 days of notice which is in contravention of industry standard
for a sale of this particular Collateral; that the Notice of Sale was not published in a newspaper of
wide circulation; and that the bid deposit was more than the usual 10%.
During the hearing of October 18, 2021, the Court directed that the defendants should
correct these “deficiencies” in any new notice of sale.
In view of the deficiencies that the Court determined were present in the defendants’
Notice of Sale of July 14, 2021, the defendants should not be permitted to charge a second notice
of sale correcting these deficiencies against the bond which was posted by the plaintiffs as a
condition of the temporary restraining order (“TRO”) that was granted by this Court in this
action on August 24, 2021. At a minimum, the defendants should present the Court with a
breakdown of all amounts to be charged against the bond, and court approval should be required
before any amounts can be charged against the bond. The bond should not be treated by the
defendants, and their counsel, as a blank check.
Finally, and most importantly, the proposed order should contain a specific provision that
if the plaintiff pay the amount that is due on the mezzanine loan, the plaintiffs will be able to
redeem their Collateral. Indeed, the plaintiffs intend to redeem the Collateral.
As the Court is well aware, New York Uniform Commercial Code (“UCC”) §9-623 gives
a debtor the right to redeem the collateral at anytime before the UCC foreclosure sale of the
collateral. Significantly, the right of redemption under UCC§ 9-623 cannot be waived by a
debtor. See UCC§9-602 (k).1
Therefore, the plaintiffs cannot, in any agreement, with the defendants waive their right
to redeem the Collateral by paying the $4.5 million or whatever is the correct amount due on the
mezzanine loan before the UCC foreclosure sale of the Collateral.
The defendants, and their counsel, have been more than transparent in their efforts to
impede and frustrate the right of the plaintiffs to redeem the Collateral.
More specifically, on July 30, 2021, after the defendants had served the Notice of Sale, I
wrote to Jerold C. Feuerstein, Esq., of Kriss & Feuerstein LLP, counsel for the defendants,
advising him that the plaintiffs would like to exercise their right of redemption under the UCC.
1
UCC§9-602(k) provides in relevant part as follows:
Except as otherwise provided in Section 9-624, to the extent that they give rights to a debtor or obligor and
impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the
following listed sections:
(k) Section 9-623, which deals with redemption of collateral;
2
My letter of July 30, 2021 to Mr. Feuerstein provided, in relevant part, as follows:
The Borrower would like to redeem the collateral by tendering payment prior to
the date scheduled for the sale.
Accordingly, I would request that you provide me with the requested payoff
letters without delay as time is of the essence.
(A copy of my July 30, 2021 letter to Mr. Feuerstein is annexed hereto as Exhibit “B”).
With no definitive response from Mr. Feuerstein concerning the plaintiffs’ right of
redemption, I again wrote to him on August 12, 2021, and finally, on August 18, 2021, Mr.
Feuerstein sent me a letter obscurely addressing the plaintiffs’ right of redemption. The August
18, 2021 letter of Mr. Feuerstein stated, in relevant, part as follows:
The Loan Documents are self-explanatory. As such, I do not understand your
request for written confirmation regarding redemption.
(A copy of Mr. Feuerstein August 18, 2021 letter is annexed hereto as Exhibit “C”).
The Court will recall that there are two senior loans which are secured by mortgages
against the Nostrand Building, and then there is a mezzanine loan which is secured by the shares
in plaintiff Hello Nostrand, LLC, the owner of the Nostrand Building.
Apparently, what the defendants, and Mr. Feuerstein, are attempting to do is to frustrate
the plaintiffs’ right of redemption by effectively insisting that in order to exercise their right to
redeem the Collateral, they will have to also pay off the senior loans against the Nostrand
Building in violation of UCC § 9-109(d)(11) which explicitly provides that Article 9 of the UCC
does not apply to “the creation or transfer of an interest in or lien on real property.”
This is the reason that Mr. Feuerstein has been so evasive in providing me with the exact
amount that is necessary for the plaintiffs to exercise their right of redemption and confirming
that if the plaintiffs pay this amount the defendants’ security interest in the Collateral will
terminate.
Accordingly, the proposed order should contain an unequivocal provision that the
plaintiffs, upon the payment of the amount due on the mezzanine loan, as determined by the
Court, will redeem the Collateral, and the defendants’ security interest in the Collateral will
immediately terminate.
Respectfully submitted,
Victor A. Worms
3
EXHIBIT “A”
FILED: ROCKLAND COUNTY CLERK 08/17/2021 07:20 PM INDEX NO. 034885/2021
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 08/17/2021
NOTICE OF SALE
PLEASE TAKE NOTICE, that in accordance with applicable provisions of the Uniform
Commercial Code as enacted in New York, by virtue of an Event of Default under that certain
Pledge and Security Agreement dated as of August 28, 2020 (the "Pledge Agreement"), executed
and delivered by Hello Living Developer Nostrand LLC (the "Pledgor") and by virtue ofthat certain
UCC-1 Filing Statement made in favor of 1580 Nostrand Mezz LLC ("Secured Party") in
accordance with Article 9 of the Uniform Commercial Code of the State ofNew York Code, Secured
Party will offer for sale, at public auction, allof Pledgor's right, title,and interest in and to: (i)100%
of the limited liabilitymembership interests in Hello Nostrand LLC ("Pledged Entity"), and (ii)
certain related rights and property relating thereto (collectively, (i) and (ii)are the "Collateral").
Secured Party's understâñdiñg is thatthe principal asset of the Pledged Entity is that certain fee
interest in real property commonly known as 1580 Nostrand Avenue, Brooklyn, NY 11226.
Mannion Auctions, LLC ("Mannion"), under the direction of Matthew D. Mannion, licensed
auctioneer (DCA #1434494) (the "Auctioneer"), will conduct a public sale ecasisting of the
Collateral (as set forth in Schedule A below), via online bidding, on September 2, 2021 at 1:00pm,
in satisfaction of an iñdebtedness in the approximate amcüñt of $3,296,266.22, including principal,
interest on principal, and reasonable fees and costs,plus default interest through September 2, 2021,
subject to open charges and all additional costs, fees and disbursements permitted by law. The
Secured Party reserves the right to credit bid.
Online bidding will be made available via Cisco WebEx Remote Meeting, Meeting link:
https://bit.1y/NostrandUCC Access Code: 182 106 6590, Password: 1580UCC (1580822 from
phones and video systems), Call-in number 1-415-655-0001.
The Collateral will be sold to the highest qualified bidder; provided, however, that Secured
Party reserves the right to cancel the sale in its entirety, or to adjourn the sale to a future date.
Interested parties who intend to bid on the Collateral must contact Secured Party's counsel, Jerold C.
Feuerstein, Esq., at Kriss & Feuerstein LLP, 360 Lexington Avenue, New York, New York 10158,
(212) 661-2900, ifeuerstein@kandf1lp.com to receive the Terms and Conditions of Sale and bidding
instructions August 2021 4:00pm. Upon execution of a standard and non-
by 30, by confidentiality
disclosure agreement, additional documentation and information will be available. Interested parties
who do not contact the Secured Party's counsel and qualify prior to the sale will not be permitted to
enter a bid.
SCHEDULE A
Pledged Interest
PLEDGOR ISSUER INTERESTS
Hello Living Developer Hello Nostrand LLC, a PLEDGED .
Nostrand LLC, a New York Delaware limited liability 100% membership
limited liabilitycompany company interest
The UCC1 was filed on August 3, 2020 with the Secretary ofState of theState ofNew
York under the FilingNo. #202008310350070.
KRISS & FEUERSTEIN LLP
Attn: Jerold C. Feuerstein, Esq.
Attorneys for Secured Party
360 Lexington Avenue, Suite 1200
New York, New York 10017
(212) 661-2900
EXHIBIT “B”
LAW OFFICES OF
VICTOR A. WORMS
48 Wall Street, SUITE 1100
NEW YORK, NY 10005
TELEPHONE: (212) 374-9590
FACSIMILE: (212) 591-6188
WEB: VICTORAWORMSPC.COM
WRITERS EMAIL
VWORMS@VICTORAWORMSPC.COM
July 30, 2021
VIA E-MAIL
Jerold C. Feuerstein, Esq.
Kriss & Feuerstein LLP
360 Lexington Avenue
New York, New York 10017 .
Re: Hello Living Developer Nostrand LLC (“Borrower”)
with 1580 Nostrand Mezz LLC (“Lender”)
and Hello Nostrand LLC (“Borrower”) with
1580 Nostrand Ave LLC (“Lender “)
Property: 1580 Nostrand Avenue, Brooklyn, NY 11266 (the
“Property”)
Dear Mr. Feuerstein:
I am the attorney for the above-referenced entities which are designated as Borrowers. I
am writing to request that you provide me with payoff letters, good until September 2, 2021, for
the loans referred to above to which my clients are the Borrowers.
As you are well aware, your office has served a notice of sale dated July 14, 2021 for the
collateral which secures the mezzanine loan in the amount of $3,000,000.00. The sale has been
noticed for September 2, 2021 at 1 PM. The Borrower would like to redeem the collateral by
tendering payment prior to the date scheduled for the sale.
Accordingly, I would request that you provide me with the requested payoff letters
without delay as time is of the essence.
Thank you for your attention to this matter.
Sincerely,
Victor A. Worms
cc: Eli Karp
EXHIBIT “C”
Jerold C. Feuerstein, Esq.
p: 212-661-2900
f: 212-661-9397
jfeuerstein@kandfllp.com
August 18, 2021
Via Email and FedEx (vworms@victoraworms.com)
Victor A. Worms, Esq.
Law Offices of Victor A. Worms
48 Wall Street, Suite 1100
New York, NY 10005
Re: Hello Nostrand LLC (“Mortgage Borrower”) with
1580 Nostrand AVE LLC (“Mortgage Lender”)
Hello Living Developer Nostrand LLC (“Mezz Borrower” and together
with Mortgage Borrower, the “Borrowers”) with
1580 Nostrand Mezz LLC (“Mezz Lender” and together with Mortgage
Lender, the “Lenders”)
1580 Nostrand Avenue, Brooklyn, NY 11226 (the “Property”)
Dear Mr. Worms:
I write on behalf of the Lenders in response to your August 12, 2021 correspondence on
behalf of your clients, the Borrowers. On Tuesday August 10, 2021 Lenders provided you with the
statements of indebtedness which you requested on Friday August 6, 2021. The Loan Documents
are self-explanatory. As such, I do not understand your request for written confirmation regarding
redemption.
This letter, and its enclosures are being sent without prejudice to my clients’ rights and
remedies under the Loan Documents, at law or in equity, all of which are reserved. Please be
guided accordingly.
Very truly yours,
Kriss & Feuerstein LLP
By: ________/s________________
Jerold C. Feuerstein, Esq.
Enc.
cc: 1580 Nostrand Ave LLC (via email)
1580 Nostrand Mezz LLC (via email)
Preview
LAW OFFICES OF VICTOR A. WORMS 48 Wall Street, 750 NEW YORK, NY 10005 TELEPHONE: (212) 374-9590 FACSIMILE: (212) 591-6188 WEB: VICTORAWORMSPC.COM WRITERS EMAIL VWORMS@VICTORAWORMSPC.COM October 21, 2021 VIA ECF AND EMAIL Hon. Paul I. Marx Justice Supreme Court of the State of New York County of Rockland 1 South Main Street New City, New York 10956 Re: Hello Living Developer Nostrand LLC, et. al. v. 1580 Nostrand Mezz, LLC, et. al. Index No. 034885/2021 Dear Justice Marx: My office is co-counsel for the plaintiffs in the above-referenced action. I write to raise three issues with the revised proposed order, which was submitted today by the attorneys for the defendants, and to submit the plaintiffs’ counter proposed order. In the first instance, the defendants have proposed that the Court include in the order that the plaintiffs owe $4.5 million on the mezzanine loan without submitting to the Court any documentary proof that this amount is correct. The Court will recall that the Notice of Sale, which was issued by the defendants on July 14, 2021, and which scheduled a proposed sale of the Collateral for September 2, 2021 indicated that the amount due on the mezzanine loan up and until September 2, 2021, was $3,296,266.22. (A copy of the first page of the Notice of Sale is annexed hereto as Exhibit “A”). A little more than a month and half after September 2, 2021 and following the Court’s determination on October 18, 2021 denying the plaintiffs’ application for a preliminary injunction, the defendants are essentially claiming that more than $1.2 million have been added to the $3,296,266.22, due on the mezzanine loan. Before an amount of $4.5 million allegedly due on the mezzanine loan is confirmed in an order by this Court, the defendants should be required to provide to the Court, and to the plaintiffs, documentary proof as to the calculation of this amount so that it can be verified by the Court and the plaintiffs. Separately, in their motion for a preliminary injunction, the plaintiffs argued, among other things, that the proposed UCC foreclosure sale was commercially unreasonable because the Notice of Sale only provided for 51 days of notice which is in contravention of industry standard for a sale of this particular Collateral; that the Notice of Sale was not published in a newspaper of wide circulation; and that the bid deposit was more than the usual 10%. During the hearing of October 18, 2021, the Court directed that the defendants should correct these “deficiencies” in any new notice of sale. In view of the deficiencies that the Court determined were present in the defendants’ Notice of Sale of July 14, 2021, the defendants should not be permitted to charge a second notice of sale correcting these deficiencies against the bond which was posted by the plaintiffs as a condition of the temporary restraining order (“TRO”) that was granted by this Court in this action on August 24, 2021. At a minimum, the defendants should present the Court with a breakdown of all amounts to be charged against the bond, and court approval should be required before any amounts can be charged against the bond. The bond should not be treated by the defendants, and their counsel, as a blank check. Finally, and most importantly, the proposed order should contain a specific provision that if the plaintiff pay the amount that is due on the mezzanine loan, the plaintiffs will be able to redeem their Collateral. Indeed, the plaintiffs intend to redeem the Collateral. As the Court is well aware, New York Uniform Commercial Code (“UCC”) §9-623 gives a debtor the right to redeem the collateral at anytime before the UCC foreclosure sale of the collateral. Significantly, the right of redemption under UCC§ 9-623 cannot be waived by a debtor. See UCC§9-602 (k).1 Therefore, the plaintiffs cannot, in any agreement, with the defendants waive their right to redeem the Collateral by paying the $4.5 million or whatever is the correct amount due on the mezzanine loan before the UCC foreclosure sale of the Collateral. The defendants, and their counsel, have been more than transparent in their efforts to impede and frustrate the right of the plaintiffs to redeem the Collateral. More specifically, on July 30, 2021, after the defendants had served the Notice of Sale, I wrote to Jerold C. Feuerstein, Esq., of Kriss & Feuerstein LLP, counsel for the defendants, advising him that the plaintiffs would like to exercise their right of redemption under the UCC. 1 UCC§9-602(k) provides in relevant part as follows: Except as otherwise provided in Section 9-624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections: (k) Section 9-623, which deals with redemption of collateral; 2 My letter of July 30, 2021 to Mr. Feuerstein provided, in relevant part, as follows: The Borrower would like to redeem the collateral by tendering payment prior to the date scheduled for the sale. Accordingly, I would request that you provide me with the requested payoff letters without delay as time is of the essence. (A copy of my July 30, 2021 letter to Mr. Feuerstein is annexed hereto as Exhibit “B”). With no definitive response from Mr. Feuerstein concerning the plaintiffs’ right of redemption, I again wrote to him on August 12, 2021, and finally, on August 18, 2021, Mr. Feuerstein sent me a letter obscurely addressing the plaintiffs’ right of redemption. The August 18, 2021 letter of Mr. Feuerstein stated, in relevant, part as follows: The Loan Documents are self-explanatory. As such, I do not understand your request for written confirmation regarding redemption. (A copy of Mr. Feuerstein August 18, 2021 letter is annexed hereto as Exhibit “C”). The Court will recall that there are two senior loans which are secured by mortgages against the Nostrand Building, and then there is a mezzanine loan which is secured by the shares in plaintiff Hello Nostrand, LLC, the owner of the Nostrand Building. Apparently, what the defendants, and Mr. Feuerstein, are attempting to do is to frustrate the plaintiffs’ right of redemption by effectively insisting that in order to exercise their right to redeem the Collateral, they will have to also pay off the senior loans against the Nostrand Building in violation of UCC § 9-109(d)(11) which explicitly provides that Article 9 of the UCC does not apply to “the creation or transfer of an interest in or lien on real property.” This is the reason that Mr. Feuerstein has been so evasive in providing me with the exact amount that is necessary for the plaintiffs to exercise their right of redemption and confirming that if the plaintiffs pay this amount the defendants’ security interest in the Collateral will terminate. Accordingly, the proposed order should contain an unequivocal provision that the plaintiffs, upon the payment of the amount due on the mezzanine loan, as determined by the Court, will redeem the Collateral, and the defendants’ security interest in the Collateral will immediately terminate. Respectfully submitted, Victor A. Worms 3 EXHIBIT “A” FILED: ROCKLAND COUNTY CLERK 08/17/2021 07:20 PM INDEX NO. 034885/2021 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 08/17/2021 NOTICE OF SALE PLEASE TAKE NOTICE, that in accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, by virtue of an Event of Default under that certain Pledge and Security Agreement dated as of August 28, 2020 (the "Pledge Agreement"), executed and delivered by Hello Living Developer Nostrand LLC (the "Pledgor") and by virtue ofthat certain UCC-1 Filing Statement made in favor of 1580 Nostrand Mezz LLC ("Secured Party") in accordance with Article 9 of the Uniform Commercial Code of the State ofNew York Code, Secured Party will offer for sale, at public auction, allof Pledgor's right, title,and interest in and to: (i)100% of the limited liabilitymembership interests in Hello Nostrand LLC ("Pledged Entity"), and (ii) certain related rights and property relating thereto (collectively, (i) and (ii)are the "Collateral"). Secured Party's understâñdiñg is thatthe principal asset of the Pledged Entity is that certain fee interest in real property commonly known as 1580 Nostrand Avenue, Brooklyn, NY 11226. Mannion Auctions, LLC ("Mannion"), under the direction of Matthew D. Mannion, licensed auctioneer (DCA #1434494) (the "Auctioneer"), will conduct a public sale ecasisting of the Collateral (as set forth in Schedule A below), via online bidding, on September 2, 2021 at 1:00pm, in satisfaction of an iñdebtedness in the approximate amcüñt of $3,296,266.22, including principal, interest on principal, and reasonable fees and costs,plus default interest through September 2, 2021, subject to open charges and all additional costs, fees and disbursements permitted by law. The Secured Party reserves the right to credit bid. Online bidding will be made available via Cisco WebEx Remote Meeting, Meeting link: https://bit.1y/NostrandUCC Access Code: 182 106 6590, Password: 1580UCC (1580822 from phones and video systems), Call-in number 1-415-655-0001. The Collateral will be sold to the highest qualified bidder; provided, however, that Secured Party reserves the right to cancel the sale in its entirety, or to adjourn the sale to a future date. Interested parties who intend to bid on the Collateral must contact Secured Party's counsel, Jerold C. Feuerstein, Esq., at Kriss & Feuerstein LLP, 360 Lexington Avenue, New York, New York 10158, (212) 661-2900, ifeuerstein@kandf1lp.com to receive the Terms and Conditions of Sale and bidding instructions August 2021 4:00pm. Upon execution of a standard and non- by 30, by confidentiality disclosure agreement, additional documentation and information will be available. Interested parties who do not contact the Secured Party's counsel and qualify prior to the sale will not be permitted to enter a bid. SCHEDULE A Pledged Interest PLEDGOR ISSUER INTERESTS Hello Living Developer Hello Nostrand LLC, a PLEDGED . Nostrand LLC, a New York Delaware limited liability 100% membership limited liabilitycompany company interest The UCC1 was filed on August 3, 2020 with the Secretary ofState of theState ofNew York under the FilingNo. #202008310350070. KRISS & FEUERSTEIN LLP Attn: Jerold C. Feuerstein, Esq. Attorneys for Secured Party 360 Lexington Avenue, Suite 1200 New York, New York 10017 (212) 661-2900 EXHIBIT “B” LAW OFFICES OF VICTOR A. WORMS 48 Wall Street, SUITE 1100 NEW YORK, NY 10005 TELEPHONE: (212) 374-9590 FACSIMILE: (212) 591-6188 WEB: VICTORAWORMSPC.COM WRITERS EMAIL VWORMS@VICTORAWORMSPC.COM July 30, 2021 VIA E-MAIL Jerold C. Feuerstein, Esq. Kriss & Feuerstein LLP 360 Lexington Avenue New York, New York 10017 . Re: Hello Living Developer Nostrand LLC (“Borrower”) with 1580 Nostrand Mezz LLC (“Lender”) and Hello Nostrand LLC (“Borrower”) with 1580 Nostrand Ave LLC (“Lender “) Property: 1580 Nostrand Avenue, Brooklyn, NY 11266 (the “Property”) Dear Mr. Feuerstein: I am the attorney for the above-referenced entities which are designated as Borrowers. I am writing to request that you provide me with payoff letters, good until September 2, 2021, for the loans referred to above to which my clients are the Borrowers. As you are well aware, your office has served a notice of sale dated July 14, 2021 for the collateral which secures the mezzanine loan in the amount of $3,000,000.00. The sale has been noticed for September 2, 2021 at 1 PM. The Borrower would like to redeem the collateral by tendering payment prior to the date scheduled for the sale. Accordingly, I would request that you provide me with the requested payoff letters without delay as time is of the essence. Thank you for your attention to this matter. Sincerely, Victor A. Worms cc: Eli Karp EXHIBIT “C” Jerold C. Feuerstein, Esq. p: 212-661-2900 f: 212-661-9397 jfeuerstein@kandfllp.com August 18, 2021 Via Email and FedEx (vworms@victoraworms.com) Victor A. Worms, Esq. Law Offices of Victor A. Worms 48 Wall Street, Suite 1100 New York, NY 10005 Re: Hello Nostrand LLC (“Mortgage Borrower”) with 1580 Nostrand AVE LLC (“Mortgage Lender”) Hello Living Developer Nostrand LLC (“Mezz Borrower” and together with Mortgage Borrower, the “Borrowers”) with 1580 Nostrand Mezz LLC (“Mezz Lender” and together with Mortgage Lender, the “Lenders”) 1580 Nostrand Avenue, Brooklyn, NY 11226 (the “Property”) Dear Mr. Worms: I write on behalf of the Lenders in response to your August 12, 2021 correspondence on behalf of your clients, the Borrowers. On Tuesday August 10, 2021 Lenders provided you with the statements of indebtedness which you requested on Friday August 6, 2021. The Loan Documents are self-explanatory. As such, I do not understand your request for written confirmation regarding redemption. This letter, and its enclosures are being sent without prejudice to my clients’ rights and remedies under the Loan Documents, at law or in equity, all of which are reserved. Please be guided accordingly. Very truly yours, Kriss & Feuerstein LLP By: ________/s________________ Jerold C. Feuerstein, Esq. Enc. cc: 1580 Nostrand Ave LLC (via email) 1580 Nostrand Mezz LLC (via email)