Dear Neighbors:

We are pleased to report that the contractors continue to make good progress on the gas piping project. Last week we advised that our contractors prepared for and began "core drilling" to open the holes for the risers up from the basement to the top of the building. As of today (Thursday, June 7th) all of the core drilling is completed on both the AB and the CDEF sides of the building.

The new riser on the AB side of the building is now in place, though there may remain some work to do to on the riser before it is "complete." The new riser for the CF apartments is also now complete (with the same caveats as the new AB riser), and the new DE riser is up to the first floor. Our contractor's goal is to have all 3 new risers completed by the end of the week, but that may not happen until early next week.

As you will recall from our first update, completion of the risers is the first milestone. The second milestone will be the passing of the Department of Buildings and Con Edison inspections upon completion of phase 1. We advised that we were very loosely estimating around July 2nd for completion of phase 2, but that there are many variables that we cannot control, and approvals could come earlier or later. For now, we continue to use the July 2nd date as a very loose target date for completion of phase 2.

We will continue to keep you posted as the project progresses.

As a reminder, you can also view these updates on line as well at the website Todd Dubner set-up for the building: www.50rsd.blogspot.com.

The Board of Directors