February 2, 2015

Gary Altman

President, East River Housing Corporation

572 Grand Street, Apt. G2004

New York, NY 10002

Mr. Altman:

Press reports note that the real estate law firm named in the federal complaint against Sheldon Silver is Goldberg & Iryami, P.C., the same firm retained by East River Housing for many years to seek reductions on our property tax bill.

There is no implication in the federal complaint against Mr. Silver that East River Housing’s relationship with Goldberg & Iryami is under investigation. Nevertheless it shouldn’t surprise you, given Mr. Silver’s high profile in this neighborhood and his long ties to East River Housing’s management and directors, that some cooperators have suspicions about our agreement with Goldberg & Iryami. Namely: Has any past or present member of East River Housing’s board of directors or management staff — or any shareholder of East River Housing — received referral fees or any other fee relating to our business with Goldberg & Iryami, P.C. or Jay Arthur Goldberg, P.C.?

Our general manager, Harold Jacob, was quoted in the New York Times (12/29/14) saying that Mr. Goldberg has represented East River for at least 25 years, and “that while [Mr. Jacob] knew Mr. Goldberg personally ... he was awarded the work because he regularly outbids his competitors.”

It is understandable in these circumstances for shareholders to have questions about our business dealings. I hope you agree that clearing the air is a painless process. There’s no reason that Mr. Silver’s troubles should cloud our home on Grand Street.

Respectfully & cooperatively yours,

Jeremy Sherber signature

Jeremy Sherber

577 Grand Street, Apt. F1801