FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2002
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ____________ to ___________
Commission file number 0-2670
60 EAST 42ND ST. ASSOCIATES L.L.C.
(Exact name of registrant as specified in its charter)
A New York Limited Liability Company 13-6077181
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
60 East 42nd Street, New York, New York 10165
(Address of principal executive offices)
(Zip Code)
(212) 687-8700
(Registrant's telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since
last report)
Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90
days. Yes [ X ]. No [ ].
An Exhibit Index is located on Page 14 of this Report.
Number of pages (including exhibits) in this filing: 15
60 East 42nd Street Assocaites
June 30, 2002
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements.
60 East 42nd St. Associates L.L.C.
Condensed Statements of Income
(Unaudited)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
2002 2001 2002 2001
Income:
Basic rent, from a
related party (Note B) $ 471,992 $372,834 $ 940,253 712,443
Additional rent, from
a related party (Note B) 263,450 263,450 526,900 526,900
Interest Income 731 44,398 2,957 120,424
Total income $ 736,173 $ 680,682 $1,470,110 1,359,767
Expenses:
Interest on mortgages (Note B) $ 466,723 $ 411,232 $ 931,210 $ 820,867
Supervisory services, to a
related party (Note C) 7,845 7,845 15,690 15,690
Depreciation of building improvements
And equipment 119,152 10,828 212,660 21,656
Amortization of mortgage
refinancing costs 66,020 66,020 132,040 132,040
Miscellaneous 325 -0- 325 -0-
Total expenses $660,065 $ 495,925 $ 1,291,925 $ 990,253
Net Income $ 76,108 $ 184,757 $ 178,185 $ 369,514
======== ======= ======== ========
Earnings per $10,000
participation unit, based on
700 participation units
outstanding during the period $ 108.73 $263.94 $ 254.55 $527.88
====== ====== ====== ======
Distributions per $10,000
participation consisted of
the following:
Income $ 108.73 $263.94 $ 254.55 $527.88
Return of Capital 264.99 109.78 492.89 219.56
Total distributions $373.72 $373.72 $ 747.44 $747.44
====== ====== ====== ======
At June 30, 2002 and 2001, there were $7,000,000 of participations outstanding
..See notes to the condensed financial statements.
-2-
60 East 42nd Street Assocaites
June 30, 2002
60 East 42nd St. Associates L.L.C.
Condensed Balance Sheets
(Unaudited)
Assets June 30, 2002 December 31, 2001
Current assets:
Cash $ 368,166 $1,950,750
----------- -----------
Total current assets 368,166 1,950,750
----------- ----------
Real estate
Land 7,240,000 7,240,000
---------- ----------
Buildings 16,960,000 16,960,000
Less, allowance for depreciation 16,960,000 16,960,000
----------- ----------
-0- -0-
----------- ----------
Building improvements and equipment 20,244,223 13,882,233
Less, allowance for depreciation 1,993,049 1,780,389
----------- ----------
18,251,174 12,101,844
----------- ----------
Mortgage refinancing costs 1,361,096 1,361,096
Less, allowance for amortization 744,920 612,879
----------- -----------
616,176 748,217
----------- -----------
Total assets $26,475,516 $22,040,811
=========== ===========
Liabilities and Members' Deficiency:
Current liabilities:
Due to Lessee $ 5,129,671 $ 2,372,779
Accrued expenses 2,077,868 55,030
----------- -----------
Total current liabilities 7,207,539 2,427,809
Long-term debt 25,020,814 25,020,814
----------- -----------
Total liabilities $32,228,353 $ 27,448,623
----------- -----------
-3-
60 East 42nd Street Assocaites
June 30, 2002
60 East 42nd St. Associates L.L.C.
Condensed Balance Sheets
(Unaudited)
(CONTINUED)
June 30, 2002 December 31, 2001
Members'Deficiency:
Members'Deficiency, January 1, $(5,407,812) $(4,924,185)
Add, Net income:
January 1, 2002 through June 30, 2002 178,185 -0-
January 1, 2001 through December 31, 2001 -0- 7,814,714
----------- -----------
(5,229,627) 2,890,529
----------- -----------
Less Distributions:
Monthly distributions,
January 1, 2002 through June 30, 2002 523,210 -0-
January 1, 2001 through December 31, 2001 -0- 1,046,420
Distribution on November 30, 2001 of
Additional Rent for the lease year
ended September 30, 2001 -0- 7,251,921
----------- -----------
Total distributions 523,210 8,298,341
----------- -----------
Members' deficiency:
June 30, 2002 (5,752,837) -0-
December 31, 2001 -0- (5,407,812)
----------- -----------
Total liabilities and members' deficiency:
June 30, 2002 $26,475,516 -0-
December 31, 2001 -0- $ 22,040,811
=========== ==========
See notes to the condensed financial statements.
-4-
60 East 42nd Street Assocaites
June 30, 2002
60 East 42nd St. Associates L.L.C.
Condensed Statements of Cash Flows
(Unaudited)
January 1, 2002 January 1, 2001
through through
June 30, 2002 June 30, 2001
Cash flows from operating activities:
Net income $ 178,185 $ 369,514
Adjustments to reconcile net income
to net cash provided by operating
activities:
Depreciation of building improvements
and equipment 212,660 21,656
Amortization of mortgage
refinancing costs 132,040 132,040
Change in due to lessee 12,833 601,887
Accrued expenses 2,022,838 87,056
--------- ---------
Net cash provided by operating
activities 2,558,556 1,212,153
----------- ----------
Cash flows from investing activities:
Purchase of Building Improvements
in Progress -0- (2,644,328)
Purchase of Building Improvements (6,361,990) (838,656)
---------- ----------
Net cash used in investing
activities (6,361,990) (3,482,984)
---------- ----------
Cash flows from financing activities:
Cash distributions (523,210) (523,210)
Increase in amounts advanced by lessee 2,744,060 -0-
----------- ----------
Net cash provided by (used in)
financing activities 2,220,850 (523,210)
----------- ----------
Net (decrease) in cash (1,582,584) (2,794,041)
Cash, beginning of period 1,950,750 5,987,609
----------- ----------
Cash, end of period $ 368,166 $ 3,193,568
========= ========
Cash paid for:
Interest $ 920,056 $ 733,810
========== =========
See notes to the condensed financial statements.
-5-
60 East 42nd Street Assocaites
June 30, 2002
Notes to Condensed Financial Statements (Unaudited)
Note A Organization and basis of Presentation
In the opinion of management, the accompanying unaudited
condensed financial statements reflect all adjustments, consisting of
normal recurring accruals, necessary to present fairly the financial
position of Registrant as of June 30, 2002, its results of operations
for the six months and three months ended June 30, 2002 and 2001 and
cash flows for the six months ended June 30, 2002 and 2001 and its
changes in Members' deficiency for the six months ended June 30,
2002. Information included in the condensed balance sheet as of
December 31, 2001 has been derived from the audited balance sheet
included in Registrant's Form 10-K for the year ended December 31,
2001 (the "10-K") previously filed with the Securities and Exchange
Commission (the "SEC"). Pursuant to rules and regulations of the
SEC, certain information and disclosures normally included in
financial statements prepared in accordance with accounting
principles generally accepted in the United States of America have
been condensed or omitted from these financial statements unless
significant changes have taken place since the end of the most recent
fiscal year. Accordingly, these unaudited condensed financial
statements should be read in conjunction with the financial
statements, notes to financial statements and the other information
in the 10-K. The results of operations for the six months ended June
30, 2002 are not necessarily indicative of the results to be expected
for the full year.
Note B Interim Period Reporting
Registrant was originally organized as a partnership
which was organized on September 25, 1958. On October 1, 1958,
Registrant acquired fee title to the Lincoln Building (the "Building")
and the land thereunder, located at 60 East 42nd Street, New York, New
York (the "Property"). On November 28, 2001, Registrant converted to a
limited liability company under New York law and is now known as 60
East 42nd St. Associates L.L.C. The conversion does not change any
aspect of the assets and operations of Registrant other than to protect
its participants from any future liability to a third party.
Registrant's members are Peter L. Malkin, Anthony E. Malkin, Scott D.
Malkin, Thomas N. Keltner, Jr., Fred C. Posniak, Jack Feirman and Mark
Labell (individually, a "Member" and, collectively, the "Members"),
each of whom also acts as an agent for holders of participations in the
Registrant ( individually, a "Participant" and, collectively,
"Participants").
-6-
60 East 42nd Street Assocaites
June 30, 2002
Registrant leases the Property to Lincoln Building Associates
("Lessee") under a long-term net operating lease (the "Lease"), the
current term of which expires on September 30, 2008. (There is one
additional 25-year term which, if exercised, will extend the Lease
until September 30, 2033.) Lessee is a partnership whose partners
consist of, among others, trusts for the benefit of members of Peter L.
Malkin's family. Six of the seven members in Registrant are at Wien &
Malkin LLP, 60 East 42nd Street, New York, New York, which provides
supervisory and other services to Registrant and to Lessee (the
"Supervisor"). See Note C of this Item 1 ("Note C").
In 1999, the participants in Registrant and the partners in
Lessee consented to a building improvement program (the "Program")
estimated to cost approximately $28,000,000 and expected to take two to
three years to complete. To induce the Lessee to approve the Program,
Associates agreed to grant to the Lessee, upon completion of the
Program, an extension of the lease for an additional 50 years to 2083.
The Lease, as modified March 1, 2000, provides that Lessee
is required to pay Registrant:
(i) annual basic rent (the "Basic Rent") equal to the sum of
$24,000 for supervisory services payable to Supervisor plus the
constant installment payments of interest and amortization (excluding
any balloon principal due at maturity) payable during such year under
all mortgages to which the Lease is subordinate, provided that the
aggregate principal balance of all mortgages now or hereafter placed on
the Property does not exceed $ 40,000,000 plus refinancing costs.
(ii) (A) additional rent (the "Additional Rent") equal to the
lesser of (x) Lessee's net operating income for the lease year or (y)
$1,053,800 and (B) further additional rent ("Further Additional Rent")
equal to 50% of any remaining balance of Lessee's net operating income
for such lease year. (Lessee has no obligation to make any payment of
Additional Rent or Further Additional Rent until after Lessee has
recouped any cumulative operating loss accruing from and after
September 30, 1977. There is currently no accumulated operating loss
against which to offset payment of Additional Rent or Further
Additional Rent.)
(iii) An advance against Additional Rent equal to the lesser
of (x) Lessee's net operating income for the preceding lease year or
(y) $1,053,800, which, in the latter amount, will permit basic
distributions to Participants at an annual rate of approximately 14.95%
per annum on their remaining cash investment in Registrant; provided,
however, if such advances exceed Lessee's net operating income for any
Lease year, advances otherwise required during the subsequent lease
year shall be reduced by an amount equal to such excess until Lessee
shall have recovered, through retention of net operating income, the
full amount of such excess. After the participants have received
distributions equal to a return of 14% per annum, $7,380 is paid to
Supervisor from the advances against Additional Rent.
Further Additional Rent income is recognized when earned from
the Lessee, at the close of the lease year ending September 30. Such
income is not determinable until the Lessee, pursuant to the Lease,
renders to Registrant a report on the operation of the Property.
Further Additional Rent for the lease year ended September 30, 2001 was
$8,057,690. After the payment of $805,769 to Supervisor as an
additional payment for supervisory services, the balance of $7,251,921
was distributed to the Participants on November 30, 2001.
-7-
60 East 42nd Street Assocaites
June 30, 2002
A refinancing of the existing first mortgage loan on the
Property in the original principal amount of $12,020,814 was closed on
October 6, 1994 (the "Mortgage"). Annual Mortgage charges are
$1,063,842, payable in equal monthly installments of $88,654,
representing interest only at the rate of 8.85% per annum. The
Mortgage will mature on October 31, 2004 and is prepayable in whole
after October 6, 1995 with a penalty providing interest protection to
the mortgagee. The Mortgage is prepayable in whole without penalty
during the 90-day period prior to its maturity date.
The refinancing costs were capitalized by Registrant and are
being expensed ratably during the period of the mortgage extension from
October 6, 1994 to October 31, 2004.
A second mortgage loan with Emigrant Savings Bank in the
amount of $27,979,186 was closed on March 9, 2000 and advances of
$13,000,000 have been taken as of June 30, 2002. Monthly payments of
interest only at the rate of 8.21% per annum apply to the advances made
through September 30, 2000. Amounts advanced from October 1, 2000
through September 30, 2002 and amounts in excess of $7,000,000 are at
interest only at the 30 day LIBOR rate. Amounts advanced after October
1, 2002 require interest only payments at 1.65 points in excess of the
yield on U.S. Treasury Securities. Maturity is October 31, 2004.
During the prepayment period, Borrower has the option to
prepay the second mortgage note in whole only, on the first day of any
month upon (i) prior written notice given by prepaid registered or
certified mail at least sixty (60) days prior to the date fixed for
prepayment and (ii) the payment of the prepayment premium plus accrued
interest. There shall be no prepayment premium after October 1, 2004
to and including the Maturity Date.
Note C - Supervisory Services
Registrant pays Supervisor for supervisory services and
disbursements. The supervisory fees are $24,000 per annum (the "Basic
Payment"): plus an additional payment of 10% of all distributions to
Participants in Registrant in any year in excess of the amount
representing a return at the rate of 14% per annum on their remaining
cash investment (the "Additional Payment"). At June 30, 2002, such
remaining cash investment was $7,000,000 representing the original cash
investment of Participants in Registrant.
-8-
60 East 42nd Street Assocaites
June 30, 2002
The supervisory services provided to Registrant by supervisor
include, but are not limited to providing or coordinating with counsel
to Registrant, maintaining all of its entity and Participant records,
performing physical inspections of the Building, reviewing insurance
coverage and conducting annual supervisory review meetings, receipt of
monthly rent from Net Lessee, payment of monthly and additional
distributions to the Participants, payment of all other disbursements,
confirmation of the payment of real estate taxes, and active review of
financial statements submitted to Registrant by Net Lessee and
financial statements audited by and tax information prepared by
Registrant's independent certified public accountant, and distribution
of such materials to the Participants. Supervisor also prepares
quarterly, annual and other periodic filings with the Securities and
Exchange Commission and applicable state authorities.
Registrant also pays Supervisor for other services at hourly
rates.
Pursuant to the fee arrangements described herein, Registrant paid
Supervisor $12,000 of the Basic Payment and $3,690 on account of the
Additional Payment, for supervisory services for the six month period
ended June 30, 2002. No remuneration was paid during the six month
period ended June 30, 2002 by Registrant to any of the Members as such.
Reference is made to Note B of Item 1 ("Note B") for a
description of the terms of the Lease between Registrant and Lessee.
As of June 30, 2002, Peter L. Malkin owned a partnership interest in
Lessee. The respective interests, if any, of the Members in Registrant
and Lessee arise solely from ownership of their respective
participations in Registrant and, in the case of Peter L. Malkin, his
individual ownership of a partnership interest in Lessee. The Members
as such receive no extra or special benefit not shared on a pro rata
basis with all other Participants in Registrant or partners in Lessee.
However, each of the seven Members who is currently a member of
Supervisor (which supervises Registrant and Lessee), by reason of his
interests in Supervisor, may receive income attributable to
supervisory, service, legal or other remuneration paid to Supervisor
for services rendered to Registrant and Lessee.
As of June 30, 2002, the Members owned of record and
beneficially an aggregate $61,667 of participations in Registrant,
representing .88% of the currently outstanding participations therein.
In addition, as of June 30, 2002, certain of the Members in
Registrant (or their respective spouses) held additional Participations
in Registrant as follows:
Peter L. Malkin owned of record as trustee or co-trustee an
aggregate of $55,714 of Participations. Peter L. Malkin
disclaims any beneficial ownership of such Participations.
Entities for the benefit of members of Peter L. Malkin's
family owned of record and beneficially $107,500 of
Participations. Peter L. Malkin disclaims any beneficial
ownership of such Participations, except that related trusts
are required to complete scheduled payments to him.
-9-
60 East 42nd Street Assocaites
June 30, 2002
Anthony E. Malkin owned of record as co-trustee an aggregate
of $25,000 of Participations. Anthony E. Malkin disclaims any
beneficial ownership of such Participations
Item 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations.
As stated in Note B, Registrant was organized solely for the
purpose of acquiring the Property subject to a net operating lease held
by Lessee. Registrant is required to pay, from Basic Rent under the
Lease, mortgage charges and amounts for supervisory services.
Registrant is required to pay from Additional Rent and Further
Additional Rent additional amounts for supervisory services and then to
distribute the balance of such Additional Rent and Further Additional
Rent to the Participants. Under the Lease, Lessee has assumed sole
responsibility for the condition, operation, repair, maintenance and
management of the Property. Registrant is not required to maintain
substantial reserves or otherwise maintain liquid assets to defray any
operating expenses of the Property.
Registrant does not pay dividends. During the six month
period ended June 30, 2002, Registrant made regular monthly
distributions of $124.57 for each $10,000 participation ($1,494.89 per
annum for each $10,000 participation). There are no restrictions on
Registrant's present or future ability to make distributions; however,
the amount of such distributions particularly distributions of
Additional Rent and Further Additional Rent, depends solely on the
ability of Lessee to make payments of Basic Rent, Additional Rent and
Further Additional Rent to Registrant. Registrant expects to make
distributions so long as it receives the payments provided for under
the Lease.
On November 30, 2001, Registrant made an additional
distribution of $10,359.89 for each $10,000 participation. Such
distribution represents Further Additional Rent paid by the Lessee in
accordance with the terms of the Lease after the Additional Payment to
Supervisor. See Notes B and C.
Registrant's results of operations are affected primarily by
the amount of rent payable to it under the Lease. The amount of
Overage Rent payable to Registrant is affected by the New York City
economy and real estate rental market. It is difficult for management
to forecast the New York City real estate market. The following
summarizes, with respect to the current period and the corresponding
period of the previous year, the material factors regarding
Registrant's results of operations for such periods:
-10-
60 East 42nd Street Assocaites
June 30, 2002
Total income increased for the six month period ended
June 30, 2002, as compared with the six month period
ended June 30, 2001. Such increase is the net result
of an increase in basic rent to cover an increase in
debt service payable by Registrant and a decrease in
interest income in the period ended June 30, 2002 as
compared with the period ended June 30, 2001.
Total expenses increased for the six month period
ended June 30, 2002, as compared with the six month
period ended June 30, 2001. Such increase is
attributable to an increase in interest on the
mortgage paid by Registrant, amortization of mortgage
refinancing costs and the depreciation of improvements
in the period ended June 30, 2002 as compared with the
period ended June 30, 2001.
Liquidity and Capital Resources
Registrant's liquidity has decreased significantly due to the
improvement program for the six month period ended June 30, 2002, as
compared with the six month period ended June 30, 2001. Costs relating
to the improvement program are funded from proceeds of a second
mortgage of $27,979,186, of which $14,979,186 is available to be drawn
down at June 30, 2002. Registrant may from time to time establish a
reserve for contingent or unforeseen liabilities.
No amortization payments are due under the Mortgages to fully
satisfy the outstanding principal balance at maturity, and furthermore
Registrant does not maintain any reserve to cover the payment of such
Mortgage indebtedness at maturity. Therefore, repayment of the
Mortgage will depend on Registrant's ability to arrange a refinancing.
Assuming that the Property continues to generate an annual net profit
in future years comparable to that in past years, and assuming further
that current real estate trends continue in the geographic area in
which the Property is located, Registrant anticipates that the value of
the Property would be in excess of the amount of the mortgage balance
at maturity.
Registrant anticipates that funds for working capital for the
Property will be provided by rental payments received from Lessee and,
to the extent necessary, from additional capital investment by the
partners in Lessee and/or external financing. However, as noted above,
Registrant has no requirement to maintain substantial reserves to
defray any operating expenses of the Property.
Inflation
Registrant has been advised that there has been no material
change in the impact of inflation on its operations since the filing of
its report on Form 10-K for the year ended December 31, 2001, which
report and all exhibits thereto are incorporated herein by reference
and made a part hereof.
-11-
60 East 42nd Street Assocaites
June 30, 2002
PART II. OTHER INFORMATION
Item 1. Legal Proceedings.
The property of Registrant is the subject of the following
material pending litigation:
Wien & Malkin LLP, et. al. v. Helmsley-Spear, Inc., et. al.
On June 19, 1997 Wien & Malkin LLP and Peter L. Malkin filed an action
in the Supreme Court of the State of New York, against Helmsley-Spear,
Inc. and Leona Helmsley concerning various partnerships which own,
lease or operate buildings managed by Helmsley-Spear, Inc., including
Registrant's property. In their complaint, plaintiffs sought the
removal of Helmsley-Spear, Inc. as managing and leasing agent for all
of the buildings. Plaintiffs also sought an order precluding Leona
Helmsley from exercising any partner management powers in the
partnerships. In August, 1997, the Supreme Court directed that the
foregoing claims proceed to arbitration. As a result, Mr. Malkin and
Wien & Malkin LLP filed an arbitration complaint against Helmsley-
Spear, Inc. and Mrs. Helmsley before the American Arbitration
Association. Helmsley-Spear, Inc. and Mrs. Helmsley served answers
denying liability and asserting various affirmative defenses and
counterclaims; and Mr. Malkin and Wien & Malkin LLP filed a reply
denying the counterclaims. By agreement dated December 16, 1997, Mr.
Malkin and Wien & Malkin LLP (each for their own account and not in any
representative capacity) reached a settlement with Mrs. Helmsley of the
claims and counterclaims in the arbitration and litigation between
them. Mr. Malkin and Wien & Malkin LLP then continued their
prosecution of claims in the arbitration for relief against Helmsley-
Spear, Inc., including its termination as the leasing and managing
agent for various entities and properties, including the Registrant's
Lessee. The arbitration hearings were concluded in June 2000, and the
arbitrators issued their decision on March 30, 2001, ordering that the
termination of Helmsley-Spear, Inc. would require a new vote by the
partners in the Lessee, setting forth procedures for such a vote, and
denying the other claims of all parties. Following the decision,
Helmsley-Spear, Inc. applied to the court for confirmation of the
decision, and Mr. Malkin and Wien & Malkin LLP applied to the court for
an order setting aside that part of the decision regarding the
procedure for partnership voting to terminate Helmsley-Spear, Inc. and
various other parts of the decision on legal grounds. The court granted
the motion to confirm the arbitrators' decision and denied the
application to set aside part of the arbitrators' decision. Mr. Malkin
and Wien & Malkin LLP have served notice of appeal of the court's
determination.
Item 6. Exhibits and Reports on Form 8-K.
(a) The exhibits hereto are being incorporated by reference.
(b) Registrant has not filed any report on Form 8-K during
the quarter for which this report is being filed.
-12-
60 East 42nd Street Assocaites
June 30, 2002
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
The individual signing this report on behalf of Registrant is
Attorney-in-Fact for Registrant and each of the Partners in Registrant,
pursuant to Powers of Attorney, dated March 18, 1998, March 20, 1998
and May 14, 1998 (collectively, the "Power").
60 EAST 42ND ST. ASSOCIATES L.L.C.
(Registrant)
By: /s/ Stanley Katzman
Stanley Katzman, Attorney-in-Fact*
Dated: August 20, 2002
Pursuant to the requirements of the Securities Exchange Act
of 1934, this report has been signed by the undersigned as Attorney-in-
Fact for each of the Partners in Registrant, pursuant to the Power, on
behalf of Registrant on the date indicated.
By: /s/ Stanley Katzman
Stanley Katzman, Attorney-in-Fact*
Dated: August 20, 2002
__________________________
* Mr. Katzman supervises accounting functions for Registrant.
-13-
60 East 42nd Street Assocaites
June 30, 2002
EXHIBIT INDEX
Number Document Page*
3(a) Partnership Agreement, dated
September 25, 1958, which was filed
by letter dated March 31, 1981
(Commission File No. 0-2670) as
Exhibit No. 3 to Registrant's Form
10-K for the fiscal year ended
December 31, 1980, and is
incorporated by reference as an
exhibit hereto.
3(b) Amended Business Certificate of
Registrant filed with the Clerk of
New York County on November 28,
1997, reflecting a change in the
Partners of Registrant, was filed as
Exhibit 3(b) to Registrant's 10-Q
for the quarter ended March 31,
1998, and is incorporated by
reference as an exhibit hereto.
13 (a) Letter to Participants dated April
16, 2002 and supplementary financial
reports for the fiscal year ended
December 31, 2001. The foregoing
material shall not be deemed "filed"
with the Commission or otherwise
subject to the liabilities of
Section 18 of the Securities
Exchange Act of 1934.
24 Powers of Attorney dated March 18,
1998, March 20, 1998 and May 14,1998
between the Partners of Registrant
and Stanley Katzman and Richard A.
Shapiro which were filed as Exhibit
24 to Registrant's 10-Q for the
-14-
60 East 42nd Street Assocaites
June 30, 2002
EXHIBIT INDEX
(cont.)
Number Document Page*
quarter ended March 31, 1998 and is
incorporated by reference as an
exhibit hereto.
99 (1) Chief Executive Officer Certification
pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
99 (2) Chief Financial Officer Certification
pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
_____________________________________________________
* Page references are based on sequential numbering system.
-15-