COMPLETED PROJECT

The project at 12-16 Waverly Place has been completed.

In July, the restoration of the rear courtyard and front façade will be completed. New sidewalks will be installed and a section of the street will be repaved.

The interior fit-out work continues as the project nears its anticipated completion in July.

The restoration of the rear courtyard facing 15 Washington Place is scheduled to begin on May 17, 2010 with a projected completion date of June 30, 2010. Scaffolding behind 16 Waverly Place and the sidewalk shed and construction fencing in the courtyard will be removed, and sections of courtyard will be demolished and restored with new concrete.

Façade restoration will begin and continue through June. A scaffolding will be erected behind 16 Waverly Place to complete the masonry work where the recently removed construction hoist was previously located.

Internal fit-out work continues.

Contractors are scheduled to dismantle the two temporary exterior elevators in the back of 16 Waverly Place and install scaffolding for the new exterior brickwork in the back of the building beginning on March 18, 2010.

This work will take place from Monday to Saturday between the hours of 7AM — 6PM and it is scheduled to be completed by July 31, 2010.

Con Edison started installation of new electric service to 12 Waverly Place on February 1, 2010. However, due to the two (2) snow storms in February the completion date for this work has been revised to March 31, 2010.

The north traffic lane along Waverly Place will be closed to traffic to allow installation of new conduits and a new manhole to accommodate this service. The construction fence will be shifted as required to ensure traffic flows freely along Waverly Place. This work is expected to be accomplished on weekdays only between the hours of 7AM—5PM.

Should a situation arise because of unknown underground conditions, Con Ed may extend the work beyond these hours and into the weekends as necessary to ensure electric service is NOT interrupted to the community.

Interior construction continues at the Genomics building. Con Edison should complete their street work on the north side of Waverly Place by mid-March (weather dependent). The hoist installed at the rear of 12-16 Waverly Place will begin to be disassembled at the end of the month, pending a successful elevator inspection.

Interior construction continues on the Genomics building. The construction barrier has been moved back to allow for Con Edison to install new electric service in the street. We anticipate this work to occur during normal construction hours 7AM - 6PM and the closure of the northern lane of traffic on Waverly Place to last through the end of February.

Beginning January 30, 2010 to February 12, 2010, interior construction work will proceed at 12-16 Waverly Place from 7AM to 6PM on Saturday, 7AM to 6PM on Sunday and 7AM to 10PM on weekdays.

Con Edison is scheduled to start installation of new electric service to 12 Waverly Place on February 1, 2010 to February 28, 2010. The north traffic lane along Waverly Place will be closed to traffic to allow installation of new conduits and a new manhole to accommodate this service. The construction fence will be shifted as required to ensure traffic flows freely along Waverly Place.

This work is expected to be accomplished on weekdays between the hours of 7AM - 5PM. However, should a situation arise because of unknown underground conditions, Con Edison may extend the work beyond these hours and into the weekends as necessary to ensure electric service is NOT interrupted to the community.

Dependent upon weather conditions, the new building roof is scheduled to be installed from January 18, 2010 to February 5, 2010.

From time to time, odors from the roofing material may be noticeable to the neighbors. This product is environmentally safe for exterior use. All work will be performed in accordance to New York City Building Department.

The sidewalk in front of 15 Washington Place has been re-opened. Mechanical, plumbing, and electrical work is on-going inside the building. Con Edison has indicated they are scheduled to start their work in late January and be complete by late February. Once this work is completed, the barrier will move, opening a second lane of traffic on Waverly Place.

With the installation of windows and enclosure of the building complete, internal work will continue until 6 pm during the week. On occasion, work will occur on Saturday but should not disturb neighboring buildings. Neighbors will be notified of any substantial noticeable work that will take place outside of normal working hours (Monday - Friday, 7 AM - 6 PM).

Fireproofing of the steel is completed, and concrete block work will conclude in December. The Sidewalk in front of 15 Washington Place will be restored by Mid-December and the corresponding construction fence will be removed. Mechanical, plumbing, and electrical work is on-going inside the building.

Throughout November, fireproofing on the structural steel, concrete block wall construction, and brick work will continue. The build out of ductwork and piping inside the building and installation of curtain wall and windows for the front façade are scheduled. Installation of the windows in the back wall facing 15 Washington Place should begin and be completed by the end of December.

Installation of mechanical piping in the cellar of 7 and 15 Washington Place and removal of the sidewalk fence in front of 15 Washington Place is scheduled, with the installation of a new sidewalk planned for mid-December.

The construction fence and barricades will be temporarily moved on Friday, October 16, 2009 and set at the curb line as requested by NYC Department of Transportation for the TR Republican Club Street Fair on Saturday, October 17, 2009. The Construction fence and barricades will be restored back in its place on Monday, October 19, 2009.

In October, fireproofing is scheduled to be installed on the front 25% of the building. Ductwork and piping will be installed inside 12-16 Waverly and mechanical piping will be installed in the cellars of 7 and 15 Washington Place. Brick and concrete block wall work will continue throughout the month.

The installation of the concrete decks on the front 25% of the building and brick work in the rear continues. The mechanical work in front of 15 Washington Place is on schedule to be completed in November 2009.

During the month of September, installation of the concrete decks on the front 25% of building is scheduled and removal of the temporary façade bracing will precede the second phase of the façade restoration, which is scheduled to be completed in October 2009.

Brick work in the back of the building will continue as will mechanical work in front of the cellar of 15 and 7 Washington Place.

Steel assembly for the front of the building is scheduled to begin the week of August 3, 2009 and closing up the back wall in the courtyard of 15 Washington Place continues. Both are scheduled to be completed by September 2009.

Work also continues in front of 15 Washington Place with the opening of the sidewalk for mechanical piping installation. This work is scheduled to be completed by November 2009.

Assembly and installation of a construction crane at 16 Waverly Place is scheduled for the week of July 27, 2009, pending weather conditions and work progress. Mechanical equipment will be delivered and hoisted to the penthouse of the building will delivered in the days following the crane's arrival.

Erection of structural steel and decking will take place over the four (4) weeks after the above work.

During the month of July, the project will complete the installation of the water/fire main in front of 285 Mercer Street. A construction crane to hoist mechanical equipment on to the roof is scheduled to be delivered mid-July.

The construction of the steel for the front 25% of the building will begin and is scheduled to be completed by August 2009.

Closing up the back wall in the courtyard of 15 Washington Place will begin in July is scheduled to be completed by September 2009.

A section of sidewalk in front of 15 Washington Place will be removed and excavated to provide access for delivery of mechanical equipment into 7 Washington Place. This work is scheduled to begin the week of July 6, 2009 and be completed by the week of November 30, 2009.

Work is scheduled to begin on Monday, June 15, 2009 on the section of street in front of 12-16 Waverly Place. The street will be saw cut and excavated to install new water and sewer pipes. Existing water and sewer services to adjacent buildings will not be affected.

The street closure will effect Waverly Place between Greene Street and Mercer Street, 7 AM to 5PM, weekdays only. The sidewalk will remain open and work is expected to be completed in two weeks, pending city inspection.

Beginning May 28th 2009, mechanical piping will be installed in the cellar of 15 Washington Place. This work will not affect existing building water or sewage system and should be completed by October 31, 2009.