Exhibit 16.1
July 13, 2004
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read Item 4 of Form 8-K dated July 12, 2004, of Cornerstone Realty Fund, LLC and we are in agreement with the statements contained in the second and third paragraphs therein. We have no basis to agree or disagree with other statements of the registrant contained therein.
| /s/ ERNST & YOUNG LLP |
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