October 2, 2003

Press Release     1/2004

53,106 Square Feet

Heavy Traffic Retail Highway

Site at

The Madison Avenue and 135^th Street Bridge

& 138^th Street exit of The Major Deegan Highway

                                                                              Sold

            The 53,100 square foot extraordinary highway retail location located at the 138^th Street exit of the Major Deegan Highway and the short 135th Street and Madison Avenue Bridge to Manhattan, has been sold to an investment group represented by Earle S. Altman, Daniel A. Burack, Gregg Schenker and Steven Hornstock of ABPartners, LLC who will act as Exclusive Leasing Agents to net lease the land to a retail developer to lease the land to use the 53,106 square feet of land to build a special purpose retail or service building or to simply park or store vehicles or equipment as the land rental is only $5 per square foot for up to 99 years.

            Approximately 65,700,000 vehicles pass the site each year on the Major Deegan Highway, so a 24-hour drug store, restaurant, automotive parts or service and repair gas station would likely do well at the site, or a 24-hour, 7-day restaurant and a garage service center.

            An adjoining plot of approximately 40,000 square feet might possibly be added to the 53,105 square foot site creating a plot of approximately 90,000 square feet.

            Verizon long term net leases a large vehicle facility north of this 53,106 square foot lot that is also owned by the ABPartners, LLC group.

            A large advertising sign on the site would also have significant real dollar value for the tenant who long term leases this unique plot.

            Larry Simon, Esq. of Phillips Nizer was the attorney for the purchasers and Edmund J. Burns of Burns, Kennedy, Shilling and O’Shea were attorneys for the seller.