<table><tr><th>From: </th><th></th></tr><tr><td>Sent:</td><td>Tuesday, April 8, 2014 11:59 PM</td></tr><tr><td>To:</td><td>jeevacation@gmail.com</td></tr><tr><td>Subject:</td><td>Newhouse</td></tr></table>

Spoke to Rockwell who designed the project and actually is a partner They have 3 partners One is great at the programming

Lecturing / events / membership / amenity package Which david thinks they have done a great job at -selective members and the c=rrect hype making it a membership club.

Similar to the soho house which drives the social aspect Newhouse drives t=e business - designed for business people not geeks / very thoughtful on ho= people work not party / not as pretentious as soho Other partner does real estate selection.

Other is the facility guy. Makes the place run correctly Issue you touched on is competition So far Schrager / steve ross / BARRY Sternlicht have all done walk through=

Issue is if they go into this field / they all have the assets to open 10+ p=r year. Ross has equinox and a team of real estate guys / they know each m=rket because of the gyms -, their quest is close to the kids using Newhouse=- ross is building 1 mm sq feet projects - Newhouse a great

Amenity for his projects. Just like equinox is Same applies to both Ian and Barry. Tons of sq ft at their disposal I can go on --along with how hard real estate selection is. But You get the p=cture I'll call u at 730 am Hope thus helps

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