From: Joe Avantario <JAvantario@elysllc.com>
Sent: Thursday, July 28, 2016 6:55 PM
To: jeffrey E.
Cc: Brad Wechsler; Heather Gray
Subject: Art Partnership
The quarter ending 6/30/16 was the first active quar=er for AP Narrows LP (the art partnership).
During that period, the partnership sold 4 pieces of=art, bought one and loaned $30MM to an exchange agent (to
purchase a Cezan=e) in connection with the partnership's 1031 exchange.
We are in the process of preparing financial stateme=ts and will forward you a copy of them upon completion.
Thanks,
Joseph Avantario=/p>
Ely=ium Management, LLC
445 Park Avenue Suite 1401, New York, NY 10022 Tel. (646)589-0316 I Cell (914)450-8806 =Avantario@elyslIc.com
<mailto:JAvantario@elyslIc.com>
EFTA_R1_01383026
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