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Queens – Purchase of First Mortgage

Brick Realty Capital LLC, through an affiliate entity, has purchased the first mortgage and note that encumbers a mixed use apartment building on Fresh Pond Road in Ridgewood, Queens.  The 4 story walk-up corner building is comprised of 3 retail stores and 6 residential apartments and generates an annual income of $200,000.  The note is due and payable in 2011.