On February 11, 2004, Meritage Properties, in partnership with EDGE Partners, acquired the 217 remaining unsold cooperative apartments at the Le Havre and Cryder Point developments in Whitestone, Queens. Le Havre and Cryder Point are two multifamily apartment complexes located along the Long Island Sound and Little Bay. The Properties were built in the early 1960s and were converted to cooperative ownership in the early 1980s. The properties are situated near the juncture of the Throgs Neck Bridge, the Cross Island Parkway, and the Clearview Expressway, offering easy commuter access to Manhattan, Long Island and Westchester. Many units have outstanding bridge and water views. There is express bus service into Manhattan and two large retail malls are nearby (Whitestone and Bay Terrace).

Cryder Point comprises three six-story buildings, each of which has a doorman. Cryder Point also offers a swimming pool, a health club and a boat/fishing dock. Most apartments have terraces. Cryder Point is located directly on the Long Island Sound.

Le Havre is a 32 building complex. Each building has nine stories and four apartments per floor, each a corner and each with a large terrace. Le Havre's amenities include two swimming pools, four tennis courts, a health club and several playgrounds.
Meritage Properties and EDGE Partners, as co-owners of the portfolio, renovate market and sell individual apartment units as they become available. 44 units have been sold through November, 2007. For current availabilities, please visit: www.sharesofny.com.

The apartment renovation program includes:

• New, modern kitchens with cherry cabinets
• New fully tiled baths
• New flooring and plush carpeting
• New stainless steel appliances
• New closets

For Further Information Contact:

Meritage Properties
(Owner) (914) 723-3533

Shares of New York Marketing LLC
(Sales Agent) (718) 747-0700