Exhibit 10.40
| Edna Wells Handy | December 28, 2010 |
| Commissioner |
| Real Estate Services | By Certified Mail Return Receipt Requested |
| 1 Centre Street | Berkshire Equity LLC |
| 20th Floor | 4611 12th Avenue - Suite 1L |
| New York, NY 10007 | Brooklyn, New York 11219 |
| Attn: David Bistricer |
| (212) 669 3645 tel | ||
| (212) 669 2666 fax | Re: | Option to Renew Lease |
| Lease made the 1st day of January, 1997 | ||
| 240-250 Livingston Street (the "Lease") | ||
| Block 165, Lot 22, Brooklyn | ||
| Human Resources Administration |
| Dear Mr. Bistricer: | |
| Pursuant to Article 3 of the Lease, Tenant does hereby exercise its option to renew the Lease, for a period of five (5) years, commencing January 1, 2012 and expiring December 31, 2016, at an annual rent of One Million Seven Hundred Seven Thousand Six Hundred Sixteen Dollars ($1,707,616.00) for the entire renewal term. | |
| In accordance with Article 22 (Notices) of the Lease, please be advised that notices to Tenant shall be addressed as follows: | |
| Assistant Commissioner of Acquisitions and Construction Services | |
| Department of Citywide Administrative Services | |
| Division of Real Estate Services | |
| 1 Centre Street, 20th Floor North | |
| New York, New York 10007 | |
| and | |
| Director, Lease Management | |
| General Support Services | |
| Human Resources Administration | |
| 250 Church Street, 14th Floor | |
| New York, New York 10013 |
David Bistricer
December 28, 2010
Page 2
Thank you for your attention to this matter.
| Sincerely, | |
| /s/ Jeffrey Kondrat | |
| Jeffrey Kondrat | |
| Assistant Commissioner | |
| (212) 669-2620 |
| c: | James Lawler, HRA |
| Maureen Mullaney, HRA | |
| Jacob Schwimmer | |
| Spiro Antypas, OMB | |
| Chris Fleming | |
| Mark Steiner | |
| Central File-HRA-3/165/22/1381 |