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SCHECHTER & BRUCKER, P.C.

ATTORNEYS-AT-LAW
350 FIFTH AVENUE

EMPIRE STATE BUILDING SUITE 4510

NEW YORK, NEW YORK 10118

ANDREW P. BRUCKER*

TELEPHONE

HOWARD SCHECHTER

(212) 244-6600

DAVID H. OSTWALD

TELECOPIER

DAVID S. KASDAN **

212-244-6784

KENNETH H. AMORELLOT†

RONALD FRANCIS

* LL.M (TAXATION)

OF COUNSEL

** N.Y. ANID NJ. BARS

† N.Y. ANID MASS. BARS

              May 5, 2000

Via Facsimile 752-0097
Mr. Kenneth B. Newman
Bleecker Charles Company
488 Madison Avenue
New York, NY 10022

     Re: 350 Bleecker Street Apartment Corp.
     Our File No.: 23500-000

Dear Ken:

     Some months ago, the board of directors of 350 Bleecker Street Apartment Corp offered to go to mediation with you concerning the garage lease dispute, and to split the cost of such mediation.

     I understand that instead of specifically accepting or rejecting its offer, you sent them back a five page agreement. An agreement at this time is premature, for there are many issues involved. However, as another show of good faith, the Board would like to express, once again, its willingness to place this entire matter before a mediator. It should be made clear that notwithstanding the mediation, or any discussion for that matter, both sides reserve their right to exercise any other legal remedies which they may have.

     We hope that you will be willing to follow this path so that we might settle this dispute without further costs or delays. We would appreciate hearing from you by facsimile or email (abrucker@sblaw.com) no later than the end of the day on May 10, 2000, with an acceptance or rejection of this offer of mediation. If we do not hear from you by then, we will assume that you are not interested in mediating this issue.

 

Very truly yours,

/s/ Andrew P. Brucker

Andrew P. Brucker

cc: Board of Directors

 

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