Grandview Palace Update

As of this date, we continue to pursue the Sale of the Grandview Palace Property.

The land is in Multiple Listing and ads have gone out to the Greater New York area. There had been several interested parties who have cancelled out.

We have not received any bona fide offer to date. The cost of cleanup is a large expense and is an issue.

The GVP Board, upon the recommendation of our realtor, is looking to SELL THE LAND AS IS. We are all looking to move on. When a Contract is signed and executed, the Board will send out letters to the Unit Owners.

Sincerely,

Board of Managers.