<table><tr><th>From:</th><th>Richard Kahn &lt;</th></tr><tr><td>Sent:</td><td>Friday, October 31, 2014 1:36 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Fwd: NYU Report: Relax Air Rights Rules to Grow Affordable Housing I New York
Observer </td></tr></table>

i will =peak with David on Monday to review quantity of 26th street air rights =nd potential value this may have for Butterfly Trust

Richard Kahn
HBRK Associates =nc.
575 Lexington Avenue 4th Floor
New York, NY 10022
tel: 
fax: 
cell:

Begin forwarded message:

From: David Mitchell ██████████████████████████████
Subject: =/b>NYU Report: Relax =ir Rights Rules to Grow Affordable Housing | New York =bserver

Date: =/b>October 30, 2014 at =:10:50 AM EDT

To: =/b>"Richard Kahn =lt

http://observer.com/2014/0=/could-more-flexible-air-rights-policies-facilitate-the-growth-of-afforda=le-housing/

David Mitchell
MITCHELL HOLDINGS LLC
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