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                                                               Exhibit 10(v)B(2)

                            FIRST AMENDMENT OF LEASE

         THIS FIRST AMENDMENT OF LEASE, dated as of the 19 day of April, 2002,
by and between SEVEN THIRTY ONE LIMITED PARTNERSHIP ("731"), a New York limited
partnership, having an address c/o Vornado Realty Trust, 210 Route 4 East,
Paramus, New Jersey 07652, and BLOOMBERG L.P. ("BLP"), a Delaware limited
partnership, having an address at 499 Park Avenue, New York, New York 10022.

                                  WITNESSETH :

         WHEREAS, pursuant to an Agreement of Lease (the "Original Lease"),
dated as of April 30, 2001, between 731, as landlord, and BLP, as tenant, 731
leased and demised to BLP, and BLP did hire and take from 731, certain premises
in a new building that 731 intends to construct at the real property bounded by
Lexington Avenue, East 58th Street, East 59th Street and Third Avenue, New York,
New York, on the terms and subject to the conditions set forth therein; and

         WHEREAS, pursuant to a letter agreement, dated December 20, 2001,
between 731 and BLP, the parties agreed to amend Section 22.4(B)(2) of the
Original Lease, on the terms set forth therein; and

         WHEREAS, pursuant to a letter agreement, dated January 30, 2002,
between 731 and BLP, the parties agreed to further amend Section 22.4(B)(2) of
the Original Lease, on the terms set forth therein (the Original Lease, as so
amended by the aforesaid letter agreements, being referred to herein as the
"Lease"); and

         WHEREAS, 731 and BLP desire to amend the Lease to (i) delete from the
premises initially demised thereby the entire rentable area on the twentieth
(20th) and the twenty- first (21st) floors of the Lexington Avenue Building,
(ii) add to the premises initially demised thereby the entire rentable area on
the third (3rd) floor of the Third Avenue Building, and (iii) otherwise modify
the Lease, in each case on the terms and subject to the conditions set forth
herein.

         NOW, THEREFORE, in consideration of the premises and other good and
valuable consideration, the mutual receipt and legal sufficiency of which the
parties hereto hereby acknowledge, 731 and BLP hereby agree as follows:

         1. Defined Terms. Capitalized terms used and not otherwise defined
herein shall have the respective meanings ascribed thereto in the Lease.

         2. Lease Modifications. Landlord and Tenant hereby amend the Lease as
follows:

         (1)      The Base Premises shall include (in addition to the portions
                  of the Building that are included therein as set forth in the
                  Lease) the third (3rd) floor of the Third Avenue Building,
                  other than the portion thereof that is


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                  used for Remote Building Systems or for Shared Building
                  Systems (such area on the third (3rd) floor of the Third
                  Avenue Building that is included in the Base Premises being
                  referred to herein as the "New Space").

         (2)      The New Space shall constitute a Deliverable Unit for purposes
                  of the Lease.

         (3)      The First Delivery Component shall include (in addition to the
                  portions of the Building that are included therein as set
                  forth in the Lease) the New Space.

         (4)      The reference to "the twenty-first (21st) floor of the
                  Lexington Avenue Building" as set forth in definition of the
                  term "Highest Basic Floor" is hereby deleted, and the clause
                  "the nineteenth (19th) floor of the Lexington Avenue Building"
                  is hereby substituted therefor.

         (5)      The New Space shall constitute a Major Sublease Unit for
                  purposes of the Lease.

         (6)      Clauses (xviii) and (xix) are hereby deleted from the
                  definition of the term "Major Sublease Unit" as set forth in
                  the Lease.

         (7)      The clause "twenty-second (22nd) floor of the Building" in
                  clause (xxi) of the definition of the term "Major Sublease
                  Unit" is hereby deleted, and the clause "twentieth (20th)
                  floor of the Lexington Avenue Building" is hereby substituted
                  therefor.

         (8)      The definition for the term "Post-Delivery Work" is hereby
                  deleted, and the following clause is hereby substituted
                  therefor:

                  "Post- Delivery Work" shall mean, collectively, (a) the Timed
                  Post- Delivery Work Components, and (b) any other Work
                  Component that this Lease (including, without limitation, the
                  Work Exhibit) (I) requires Landlord to perform after the
                  Commencement Date for the applicable Deliverable Unit, or (II)
                  does not require Landlord to perform on or prior to the
                  Commencement Date for the applicable Deliverable Unit.

         (9)      The following clause is hereby added to the list of defined
                  terms in the Lease:

                  "Fourth Price Space" shall mean the portion of the Initial
                  Premises that is located on the third (3rd) floor of the Third
                  Avenue Building.


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         (10)     The reference in the definition of the term "Third Price
                  Space" to the twentieth (20th) floor and the twenty-first
                  (21st) floor of the Lexington Avenue Building is hereby
                  deleted.

         (11)     The Fixed Rent for the 1st Rental Period shall include (in
                  addition to the items set forth in the Lease) an amount equal
                  to the product obtained by multiplying (I) Fifty-Four Dollars
                  ($54.0000), by (II) the number of square feet of Rentable Area
                  in the Fourth Price Space.

         (12)     The Fixed Rent for the 2nd Rental Period shall include (in
                  addition to the items set forth in the Lease) an amount equal
                  to the product obtained by multiplying (I) Fifty-Nine and
                  9,400/10,000 Dollars ($59.9400), by (II) the number of square
                  feet of Rentable Area in the Fourth Price Space.

         (13)     The Fixed Rent for the 3rd Rental Period shall include (in
                  addition to the items set forth in the Lease) an amount equal
                  to the product obtained by multiplying (I) Sixty-Six and
                  5,334/10,000 Dollars ($66.5334), by (II) the number of square
                  feet of Rentable Area in the Fourth Price Space.

         (14)     The Fixed Rent for the 4th Rental Period shall include (in
                  addition to the items set forth in the Lease) an amount equal
                  to the product obtained by multiplying (I) Seventy-Three and
                  8,521/10,000 Dollars ($73.8521), by (II) the number of square
                  feet of Rentable Area in the Fourth Price Space.

         (15)     The Fixed Rent for the 5th Rental Period shall include (in
                  addition to the items set forth in the Lease) an amount equal
                  to the product obtained by multiplying (I) Eighty-One and
                  9,758/10,000 Dollars ($81.9758), by (II) the number of square
                  feet of Rentable Area in the Fourth Price Space.

         (16)     The Fixed Rent for the 6th Rental Period shall include (in
                  addition to the items set forth in the Lease) an amount equal
                  to the product obtained by multiplying (I) Ninety and
                  9,931/10,000 Dollars ($90.9931), by (II) the number of square
                  feet of Rentable Area in the Fourth Price Space.

         (17)     The Fixed Rent for the 7th Rental Period shall include (in
                  addition to the items set forth in the Lease) an amount equal
                  to the product obtained by multiplying (I) One Hundred One and
                  24/10,000 Dollars ($101.0024), by (II) the number of square
                  feet of Rentable Area in the Fourth Price Space.

         (18)     The definition of the term "Base Rental Amount" as set forth
                  in Section 38.1(E) of the Lease is hereby amended by adding
                  the following clause (5) thereto:

                  (5)      in connection with the determination of the Rental
                           Value of any portion of the Renewal Premises that
                           constitutes Fourth Price

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                           Space for the Renewal Term, the product obtained by
                           multiplying (x) the number of square feet of Rentable
                           Area in such portion of the Renewal Premises, by (y)
                           (a) One Hundred One and 24/10,000 Dollars ($101.0024)
                           for the period from the first day of the Renewal Term
                           to the day immediately preceding the twenty-eighth
                           (28th) anniversary of the Last Commencement Date, (b)
                           One Hundred Twelve and 1,126/10,000 Dollars
                           ($112.1126) for the period from the twenty-eighth
                           (28th) anniversary of the Last Commencement Date to
                           the day immediately preceding the thirty- second
                           (32nd) anniversary of the Last Commencement Date, and
                           (c) One Hundred Twenty-Four and 4,450/10,000 Dollars
                           ($124.4450) for the period from the thirty-second
                           (32nd) anniversary of the Last Commencement Date to
                           the last day of the Renewal Term.

         (19)     Clause (i) of the definition of the term "Rent Per Square
                  Foot" in Section 12.7(B)(2) of the Lease is hereby deleted,
                  and the following clause is hereby substituted therefor:

                  (i)      with respect to the First Price Space, the Second
                           Price Space, the Third Price Space or the Fourth
                           Price Space, the sum of (I) the amount applicable at
                           such time, as set forth on Exhibit Definitions-A
                           attached hereto, and (II) the Escalation Rent Per
                           Square Foot.

         (20)     Exhibit Definitions-A to the Lease is hereby deleted, and the
                  schedule set forth in Exhibit "A" attached hereto and made a
                  part hereof is hereby substituted therefor.

         (21)     Section 2.1 of the Lease is hereby modified by deleting the
                  last sentence thereof. Landlord shall not have the right to
                  claim that the use of the Premises by a Permitted Occupant at
                  an occupancy density that conforms with the parameters set
                  forth on Exhibit "B" attached hereto and made a part hereof
                  is, in and of itself, not in conformity with the Building
                  Standard.

         (22)     The clause in the first sentence of Section 2.3(C) of the
                  Lease "the twenty- second (22nd) floor of the Building" is
                  hereby deleted, and the clause "the twentieth (20th) floor of
                  the Building" is hereby substituted therefor.

         (23)     Section 2.5(A)(e) of the Lease is hereby modified to delete
                  therefrom the phrase "Post-Delivery Date" and to substitute
                  therefor the phrase "Post- Delivery Work Date."


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         (24)     The references in the definition of the term "Tower Premises"
                  to the twentieth (20th) floor and the twenty-first (21st)
                  floor of the Lexington Avenue Building are hereby deleted.

         (25)     The Third Floor Deck shall include the slab and decking
                  constituting the floor of the portion of the Premises located
                  on the third (3rd) floor of the Lexington Avenue Building and
                  the third (3rd) floor of the Third Avenue Building.

         (26)     Section 3.10 of the Lease is hereby modified by deleting the
                  last sentence thereof and substituting the following sentence
                  therefor:

                  This Section 3.10 shall not apply during any period after the
                  Last Commencement Date that (i) the Rentable Area on the third
                  (3rd) floor of the Lexington Avenue Building is not demised
                  hereby (with respect to the portion of the Third Floor Deck in
                  the Lexington Avenue Building), and (ii) the Rentable Area on
                  the third (3rd) floor of the Third Avenue Building is not
                  demised hereby (with respect to the portion of the Third Floor
                  Deck in the Third Avenue Building).

         (27)     Notwithstanding Section 22.1(E)(1) of the Lease, Landlord
                  shall have the right to cause the Commencement Date for the
                  New Space to occur later than the Commencement Date for the
                  Deliverable Unit constituting the fourth (4th) floor in the
                  Third Avenue Building (with the understanding, however, that
                  the Commencement Date for the New Space shall not occur later
                  than the Commencement Date for the Deliverable Unit
                  constituting the fifth (5th) floor of the Third Avenue
                  Building).

         (28)     Section 22.1(E)(11) of the Lease is hereby modified by
                  deleting the reference therein to "the Lexington Avenue
                  Building" and substituting therefor a reference to "the
                  Lexington Avenue Building or the Third Avenue Building".

         (29)     Section 22.3(F)(4) of the Lease is hereby modified to delete
                  therefrom the phrase "during the calendar month of September,
                  2004" and to substitute therefor the phrase "on or after
                  September 1, 2004."

         (30)     Section 22.7(A) of the Lease is hereby modified to delete
                  therefrom the definition of the term "Timed Post-Delivery Work
                  Components", and to substitute therefor the following clause:

                  As used herein, the term "Timed Post-Delivery Work Components"
                  shall mean, collectively, (I) the Work Components listed in
                  the Technical Requirements that comprise part of the Work
                  Exhibit that, according to the corresponding entry in the
                  column entitled "Delivery of Landlord's

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                  Work," are contemplated to be performed within a particular
                  period of time after the First Commencement Date or the
                  Commencement Date for a particular Deliverable Unit, and (II)
                  those Work Components described in the Lease that are
                  contemplated to be performed within a particular period of
                  time after the First Commencement Date or the Commencement
                  Date for a particular Deliverable Unit.

         (31)     The clause in the second sentence of Section 22.14(D) of the
                  Lease "space on the ground level or the second (2nd) floor of
                  the Third Avenue Building" is hereby deleted, and the clause
                  "space on the ground level of the Third Avenue Building" is
                  hereby substituted therefor.

         (32)     Section 25.2 of the Lease is hereby modified by adding the
                  following sentence:

                  A Construction Notice shall be deemed to be given properly by
                  Tenant if such notice is given, in the manner set forth in
                  this Section 25.2, by Keith Barr, Stephen Karafiol, or Thomas
                  Philip, or such other Person that Tenant designates from time
                  to time.

         (33)     If Landlord exercises Landlord's right to consummate (x) a
                  Sublease Recapture pursuant to Section 12.16(A) of the Lease,
                  or (y) a Subleasehold Assignment Recapture pursuant to Section
                  12.16(B) of the Lease, then Landlord shall have the right to
                  exercise Landlord's rights to use the Recovered Elevators
                  under Section 27.1(B) of the Lease only for the term of the
                  applicable sublease (rather than for the portion of the Term
                  that remains from and after the date that Landlord consummates
                  such Sublease Recapture of such Subleasehold Assignment
                  Recapture).

         (34)     The reference to "the twenty-second (22nd) floor of the
                  Lexington Avenue Building" in clause (i) of the definition of
                  the term "Upper Option Space" in Section 36.1 of the Lease is
                  hereby deleted, and a reference to "the twentieth (20th) floor
                  of the Lexington Avenue Building" is hereby substituted
                  therefor.

         (35)     Each reference to "the second (2nd) floor of the Building" in
                  the definition of the term "Lower Option Space" in Section
                  36.1 of the Lease is hereby deleted, and a reference to "the
                  second (2nd) floor of the Lexington Avenue Building" is hereby
                  substituted therefor.

         (36)     The reference in the definition of the term "Shortage Floor"
                  in Section 36.11(A) of the Lease to "the twenty-second (22nd)
                  floor of the Lexington Avenue Building" is hereby deleted, and
                  a reference to "the twentieth (20th) floor of the Lexington
                  Avenue Building" is hereby substituted therefor.

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<PAGE>
         (37)     The reference in Section 36.11(A) of the Lease to Exhibit
                  Definitions-E is hereby deleted, and a reference to Exhibit
                  Definitions-A is hereby substituted therefor.

         (38)     The first sentence of Section 36.11(B) of the Lease is hereby
                  deleted, and the following sentence is hereby substituted
                  therefor:

                  Subject to the terms of this Section 36.11(B), Tenant shall
                  have the right to include in the Tower Premises either (x) the
                  entire Rentable Area on the twentieth (20th) floor of the
                  Lexington Avenue Building, (y) the entire Rentable Area on the
                  twentieth (20th) floor of the Lexington Avenue Building and on
                  the twenty-first (21st) floor of the Lexington Avenue
                  Building, or (z) the entire Rentable Area on the twentieth
                  (20th) floor of the Lexington Avenue Building, the
                  twenty-first (21st) floor of the Lexington Avenue Building,
                  and the twenty-second (22nd) floor of the Lexington Avenue
                  Building, by giving notice thereof (the "Early Option Notice")
                  to Landlord on or prior to June 30, 2002 (Tenant's aforesaid
                  option to lease such space in the Lexington Avenue Building as
                  provided in this Section 36.11(B) being referred to herein as
                  the "Early Option").

         (39)     The fourth sentence of Section 36.11(B) of the Lease is hereby
                  deleted, and the following sentence is hereby substituted
                  therefor:

                  If Tenant exercises the Shortage Option prior to the date that
                  Tenant exercises the Early Option, then the aforesaid space
                  with respect to which Tenant has the right to exercise the
                  Early Option shall be either (x) the entire Rentable Area on
                  the twenty-first (21st) floor of the Lexington Avenue
                  Building, (y) the entire Rentable Area on the twenty-first
                  (21st) floor of the Lexington Avenue Building and on the
                  twenty-second (22nd) floor of the Lexington Avenue Building,
                  or (z) the entire Rentable Area on the twenty-first (21st)
                  floor of the Lexington Avenue Building, on the twenty-second
                  (22nd) floor of the Lexington Avenue Building, and on the
                  twenty-third (23rd) floor of the Lexington Avenue Building.

         (40)     The reference to Exhibit Definitions-E in Section 36.11(B) of
                  the Lease is hereby deleted, and a reference to Exhibit
                  Definitions-A is hereby substituted therefor.

         (41)     The definition of the term "High Rise Portion" as set forth in
                  Section 36.11(C) of the Lease shall be the portion of the
                  Building at and above the twentieth (20th) floor of the
                  Building that is served by the High Rise Office Elevators.

         (42)     Clause (y) in the first sentence of Section 37.1(B) of the
                  Lease is hereby deleted, and the following clause is hereby
                  substituted therefor:

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                  (y) (I) the entire portion of the Lower Level Space that is
                  located on Lower Level 2 of the Building, (II) the entire
                  portion of the Basic Premises that is then located on the
                  third (3rd) floor of the Lexington Avenue Building (if any),
                  (III) the entire portion of the Basic Premises that is then
                  located on the third (3rd) floor of the Third Avenue Building
                  (if any), and (IV) additional portions of the Basic Premises
                  above the third (3rd) floor of the Building that (X)
                  constitute all of the Rentable Area on particular floors of
                  the Building, and (Y) are vertically contiguous to portions of
                  the Basic Premises for which Tenant exercises the Renewal
                  Option, so that the portion of the Premises with respect to
                  which Tenant exercises the Renewal Option comprises at least
                  Three Hundred Fifty Thousand (350,000) square feet of Rentable
                  Area.

         (43)     Landlord and Tenant acknowledge that for purposes of
                  determining the Fair Market Rent of the New Space, Landlord
                  and Tenant shall assume that such space is being valued as
                  office space (it being understood that the Fair Market Rent
                  for the New Space shall be otherwise determined in accordance
                  with the terms of Section 38.2 of the Lease).

         (44)     The references to the twentieth (20th) floor of the Building
                  and the twenty-first (21st) floor of the Building in Item 8
                  of the Architectural Requirements that comprise part of the
                  Work Exhibit are hereby deleted.

         (45)     Item 9 of the Architectural Requirements that comprise part of
                  the Work Exhibit is hereby amended to provide that the High
                  Rise Office Elevators shall serve (in addition to the floors
                  set forth therein) the nineteenth (19th) and the twentieth
                  (20th) floors of the Building.

         (46)     The reference in Item 24 of the Architectural Requirements
                  that comprise part of the Work Exhibit to "the 22nd floor of
                  the Building" is hereby deleted, and a reference to "the 20th
                  floor of the Building" is hereby substituted therefor.

         (47)     Item 25 of such Architectural Requirements is hereby deleted.
                  Landlord and Tenant acknowledge that (i) the emergency egress
                  capacity of the portion of the Initial Premises that is
                  located at and below the nineteenth (19th) floor of the
                  Building (and the twentieth (20th) floor of the Building, if
                  Tenant exercises the Shortage Option) shall be sufficient to
                  support the occupancy density described in Exhibit "B"
                  attached hereto, (ii) the additional work that is necessary to
                  achieve such emergency egress capacity (over the work that is
                  necessary to achieve emergency egress capacity of one (1)
                  person for each eighty (80) square feet of Usable Area) shall
                  be a Tenant Work Component (such additional work being
                  collectively referred to herein as the "Egress Capacity
                  Work"), (iii) the Fixed Rent shall be increased to reflect the
                  additional space used by the

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                  emergency egress staircase on the second (2nd) floor of the
                  Lexington Avenue Building (at the rate of One Hundred
                  Twenty-Five Dollars ($125) per square foot of Usable Area,
                  increasing by eleven percent (11%) on each fourth (4th)
                  anniversary of the Last Commencement Date), and (iv) the Fixed
                  Rent shall be increased to reflect the additional space used
                  by the emergency egress staircase on the ground floor of the
                  Building (at the rate of Three Hundred Dollars ($300) per
                  square foot of Usable Area, increasing by eleven percent (11%)
                  on each fourth (4th) anniversary of the Last Commencement
                  Date). Landlord shall have the right to require Tenant to pay
                  the cost of the Egress Capacity Work (as otherwise provided in
                  Section 22.2 of the Lease) only if (i) Landlord gives Tenant a
                  notice (or notices) describing in reasonable detail the
                  components of the Work that constitute the Egress Capacity
                  Work, and (ii) Tenant fails to give to Landlord, within ten
                  (10) days after the date that Landlord gives to Tenant the
                  aforesaid notice (or each of the aforesaid notices, as the
                  case may be), a notice to the effect that Tenant revokes
                  Tenant's election to require Landlord to perform the Egress
                  Capacity Work (or the applicable element thereof). If Tenant
                  gives such notice revoking Tenant's election to require
                  Landlord to perform the Egress Capacity Work (or the
                  applicable element thereof), then (x) Landlord shall have no
                  obligation to perform the Egress Capacity Work (or the
                  applicable element thereof), and (y) Tenant shall pay to
                  Landlord an amount equal to the reasonable out-of- pocket
                  design costs that Landlord incurs in redesigning the Work to
                  delete the Egress Capacity Work (or the applicable portion
                  thereof), within thirty (30) days after Landlord's request
                  therefor and Landlord's submission to Tenant of reasonable
                  supporting documentation therefor. Landlord shall use
                  Landlord's reasonable efforts to minimize the scope and the
                  cost to Tenant of the Egress Capacity Work (to the extent that
                  Tenant does not revoke Tenant's election to require Landlord
                  to perform the Egress Capacity Work (or the applicable
                  elements thereof) as provided in this clause (47)). Landlord
                  and Tenant shall each have the right to submit to an Expedited
                  Arbitration Proceeding any dispute between the parties
                  regarding the scope of the Egress Capacity Work or the costs
                  thereof to be paid by Tenant to Landlord under the Lease, as
                  amended hereby.

         (48)     The reference in Item 26 of such Architectural Requirements to
                  "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (49)     The reference in Item 29 of such Architectural Requirements to
                  "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.


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<PAGE>
         (50)     Each reference in Item 30 of such Architectural Requirements
                  to "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (51)     The reference in Item 35 of such Architectural Requirements to
                  "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (52)     The reference in Item 36 of such Architectural Requirements to
                  "the twenty-first (21st) floor of the Building" is hereby
                  deleted, and a reference to "the nineteenth (19th) floor of
                  the Building" is hereby substituted therefor.

         (53)     The reference in Item 36 of such Architectural Requirements to
                  "the twenty-second (22nd) floor of the Building" is hereby
                  deleted, and a reference to "the twentieth (20th) floor of the
                  Building" is hereby substituted therefor.

         (54)     Each reference in Item 40 of such Architectural Requirements
                  to "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (55)     The reference in Item 41 of such Architectural Requirements to
                  "the twenty-first (21st) floor of the Building" is hereby
                  deleted, and a reference to "the nineteenth (19th) floor of
                  the Building" is hereby substituted therefor.

         (56)     The reference in Item 41 of such Architectural Requirements to
                  "the twenty-second (22nd) floor of the Building" is hereby
                  deleted, and a reference to "the twentieth (20th) floor of the
                  Building" is hereby substituted therefor.

         (57)     Each reference in Item 42 of such Architectural Requirements
                  to "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (58)     Each reference in Item 43 of such Architectural Requirements
                  to "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (59)     The reference in Item 44 of such Architectural Requirements to
                  "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.


                                       10
<PAGE>
         (60)     The reference in Item 45 of such Architectural Requirements to
                  "the twenty-first (21st) floor of the Building" is hereby
                  deleted, and a reference to "the nineteenth (19th) floor of
                  the Building" is hereby substituted therefor.

         (61)     The reference in Item 45 of such Architectural Requirements to
                  "the twenty-second (22nd) floor of the Building" is hereby
                  deleted, and a reference to "the twentieth (20th) floor of the
                  Building" is hereby substituted therefor.

         (62)     The reference in Item 50 of such Architectural Requirements to
                  "the twenty-first (21st) floor of the Building" is hereby
                  deleted, and a reference to "the nineteenth (19th) floor of
                  the Building" is hereby substituted therefor.

         (63)     The reference in Item 50 of such Architectural Requirements to
                  "the twenty-second (22nd) floor of the Building" is hereby
                  deleted, and a reference to "the twentieth (20th) floor of the
                  Building" is hereby substituted therefor.

         (64)     The reference in Item 51 of such Architectural Requirements to
                  "the twenty-first (21st) floor of the Building" is hereby
                  deleted, and a reference to "the nineteenth (19th) floor of
                  the Building" is hereby substituted therefor.

         (65)     The reference in Item 51 of such Architectural Requirements to
                  "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (66)     The reference in Item 52 of such Architectural Requirements to
                  "the twenty-first (21st) floor of the Building" is hereby
                  deleted, and a reference to "the nineteenth (19th) floor of
                  the Building" is hereby substituted therefor.

         (67)     The reference in Item 52 of such Architectural Requirements to
                  "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (68)     The first paragraph of Item 53 of such Architectural
                  Requirements shall (i) not apply to the twentieth (20th) floor
                  and the twenty-first (21st) floor of the Lexington Avenue
                  Building, (ii) apply to the twentieth (20th) floor of the
                  Lexington Avenue Building (if Tenant exercises the Shortage
                  Option), and (iii) apply to the New Space.


                                       11
<PAGE>
         (69)     The reference in the last paragraph of Item 53 of such
                  Architectural Requirements to "the 22nd floor of the Building"
                  is hereby deleted, and a reference to "the 20th floor of the
                  Building" is hereby substituted therefor.

         (70)     The reference in Item 54 of such Architectural Requirements to
                  "the 21st floor of the Building" is hereby deleted, and a
                  reference to "the 19th floor of the Building" is hereby
                  substituted therefor.

         (71)     Each reference in Item 54 of such Architectural Requirements
                  to "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (72)     The reference in Item 55 of such Architectural Requirements to
                  "the 22nd floor of the Building" is hereby deleted, and a
                  reference to "the 20th floor of the Building" is hereby
                  substituted therefor.

         (73)     Each reference in Item 56 of such Architectural Requirements
                  to "the twenty-second (22nd) floor of the Building" is hereby
                  deleted, and a reference to "the twentieth (20th) floor of the
                  Building" is hereby substituted therefor.

         (74)     Each reference in Item 57 of such Architectural Requirements
                  to "the twenty-second (22nd) floor of the Building" is hereby
                  deleted, and a reference to "the twentieth (20th) floor of the
                  Building" is hereby substituted therefor.

         (75)     The references in Schedule 1 to such Architectural
                  Requirements to the twentieth (20th) floor in the Lexington
                  Avenue Building and the twenty- first (21st) floor of the
                  Lexington Avenue Building are hereby deleted.

         (76)     The Schematic Drawings listed as Schedule 1 to Exhibit 22.1 of
                  the Lease are hereby modified as described on Exhibit "C"
                  attached hereto and made a part hereof.

         (77)     Item 6 on Exhibit 22.1 of the Lease is hereby modified to
                  delete the introductory clause "13-21st Floors" and the clause
                  "13-19th Floors" is hereby substituted therefor.

         (78)     Item 7 on Exhibit 22.1 of the Lease is hereby modified to
                  delete the introductory clause "22nd Floor" and the clause
                  "20th Floor" is hereby substituted therefor.

         (79)     Item 7 on Exhibit 22.1 of the Lease is hereby modified to
                  delete the clause "22nd floor" and the clause "20th floor" is
                  hereby substituted therefor.


                                       12
<PAGE>
         (80)     The reference to the "twenty-first (21st) floor" in the
                  description of the Second Construction Milestone Stage as set
                  forth in Exhibit 22.6 of the Lease is hereby deleted, and a
                  reference to the "nineteenth (19th) floor" is hereby
                  substituted therefor.

         (81)     Exhibit 39.1 of the Lease is hereby modified by deleting the
                  first sentence under the heading "58th Street and 59th Street
                  & Lexington Avenue Corners (B)" and substituting therefor the
                  following sentence:

                  Tenant high technology signage display located within the
                  windows of the Lexington Avenue Building on floors 3-5 and
                  within the windows of the Third Avenue Building on floors 3-5.

         3. Usable Area Statement. Landlord and Tenant acknowledge that (i)
Landlord shall be deemed to have given to Tenant in accordance with Section
22.4(B)(1) of the Lease a Usable Area Statement that sets forth the Usable Area
for each Deliverable Unit as provided in Exhibit "D" attached hereto and made a
part hereof, (ii) the Usable Area for each Deliverable Unit as set forth in
Exhibit "D" attached hereto shall be deemed to have satisfied the parameters set
forth in Item 3 of the Architectural Requirements that are attached to the Lease
as part of the Work Exhibit, and (iii) the Usable Area that constitutes Bracing
Area (hereinafter defined) or Special East Core Areas (hereinafter defined)
shall not be taken into account for purposes of determining whether (x) Landlord
satisfies the parameters set forth in Items 1 and 2 of the Architectural
Requirements that are attached to the Lease as part of the Work Exhibit, or (y)
Tenant has the right to exercise the Shortage Option. Nothing contained in this
Section 3 limits the rights or obligations of the parties regarding the
measurement of the Usable Area of each Deliverable Unit as contemplated by
Section 22.4 of the Lease.

         4. Special Rules for the Structural Bracing in the Western Core.

         (1) Subject to the terms of this Section 4, Landlord and Tenant
acknowledge that for purposes of the Lease (as amended hereby), the Usable Area
of the Premises shall include, without limitation, the floor area that lies
immediately underneath the structural bracing that is adjacent to the core of
the Lexington Avenue Building (the floor area that lies immediately underneath
such structural bracing in the Lexington Avenue Building being referred to
herein as the "Bracing Area"). Nothing contained in this Section 4 limits
Landlord's obligation to construct the Premises in accordance with the
Architectural Requirements that constitute part of the Work Exhibit (except that
the parties' respective rights and obligations in respect of the Bracing Area,
the Limited Bracing Area and the Dead Space shall be governed by this Section
4). Landlord shall not have the right to include in the Premises more than a
cumulative total of approximately five thousand (5,000) square feet of Rentable
Area that constitutes the Bracing Area. Landlord, as part of the Work, shall
install the sheetrock encasement as close as reasonably practicable to the
structural bracing in the Bracing Area (it being understood that the
construction of such sheetrock encasements for such structural bracing shall not
constitute a Tenant Work Component).


                                       13
<PAGE>
         (2) Subject to the terms of this Section 4(2), the Usable Area of the
Premises shall not include any particular portion of the Bracing Area to the
extent that (x) the distance from the top of the six (6)-inch raised floor to
the underside of the fireproofed structural bracing and the Building Systems
running adjacent thereto in such portion of the Bracing Area is less than eight
(8) feet, six (6) inches, (y) Tenant does not use such portion of the Bracing
Area for any purpose, and (z) Tenant encloses such portion of the Bracing Area
with permanent partitioning (such as sheetrock partitioning) (any portion of the
Bracing Area that meets the requirements set forth in clauses (x), (y) and (z)
above being referred to herein as "Dead Space"; any portion of the Bracing Area
that meets the requirement described in clause (x) above (regardless of whether
such portion of the Bracing Area also satisfies the requirements described in
clauses (y) and (z) above) being referred to herein as "Limited Bracing Area").
Tenant shall have the right to declare that a portion of the Bracing Area
constitutes Dead Space by giving notice thereof to Landlord on or prior to the
sixtieth (60th) day after the Rent Commencement Date for the applicable
Deliverable Unit. If Tenant so declares that a portion of the Bracing Area
constitutes Dead Space, then Landlord shall have the right to inspect the
applicable portion of the Premises to the extent reasonably necessary to confirm
Tenant's aforesaid declaration. Either party shall have the right to submit to
an Expedited Arbitration Proceeding a dispute between the parties regarding the
designation of the Dead Space as contemplated by this Section 4(2). If any
Bracing Area constitutes Dead Space as provided in this Section 4(2), then such
Bracing Area shall constitute Usable Area during the period that such Bracing
Area no longer qualifies as Dead Space as provided in this Section 4(2).

         (3) Landlord and Tenant acknowledge that the Fixed Rent for the Bracing
Area shall be calculated in accordance with the terms of the Lease (as modified
hereby), except that the Fixed Rent for any Limited Bracing Area (other than the
Dead Space) shall be calculated at the rate of (i) Thirty Dollars ($30) per
square foot of Rentable Area for the 1st Rental Period, (ii) Thirty-Three and
3,000/10,000 Dollars ($33.3000) per square foot of Rentable Area for the 2nd
Rental Period, (iii) Thirty-Six and 9,630/10,000 Dollars ($36.9630) per square
foot of Rentable Area for the 3rd Rental Period, (iv) Forty-One and 289/10,000
Dollars ($41.0289) per square foot of Rentable Area for the 4th Rental Period,
(v) Forty-Five and 5,421/10,000 Dollars ($45.5421) per square foot of Rentable
Area for the 5th Rental Period, (vi) Fifty and 5,517/10,000 Dollars ($50.5517)
per square foot of Rentable Area for the 6th Rental Period, and (vii) Fifty-Six
and 1,124/10,000 Dollars ($56.1124) per square foot of Rentable Area for the 7th
Rental Period. Landlord and Tenant acknowledge that Tenant shall not be required
to pay Fixed Rent for any Dead Space by virtue of such Dead Space not being
included in Usable Area as provided in this Section 4. If a portion of the
Bracing Area constitutes Dead Space as determined in accordance with Section
4(2) hereof, then Tenant shall have the right to credit against the Rental
otherwise coming due hereunder an amount equal to the Fixed Rent that Tenant has
theretofore paid to Landlord for such Dead Space, until such credit is
exhausted.

         (4) In connection with the determination of the Rental Value of any
portion of the Renewal Premises that constitutes Limited Bracing Area for the
Renewal Term, the Base Rental Amount shall be the product obtained by
multiplying (x) the number of square feet of Rentable Area in such portion of
the Renewal Premises, by (y) (a) Fifty-Six and 1,124/10,000 Dollars ($56.1124)
for the period from the first day of the Renewal Term to the day immediately

                                       14
<PAGE>
preceding the twenty-eighth (28th) anniversary of the Last Commencement Date,
(b) Sixty-Two and 2,848/10,000 Dollars ($62.2848) for the period from the
twenty-eighth (28th) anniversary of the Last Commencement Date to the day
immediately preceding the thirty-second (32nd) anniversary of the Last
Commencement Date, and (c) Sixty-Nine and 1,361/10,000 Dollars ($69.1361) for
the period from the thirty-second (32nd) anniversary of the Last Commencement
Date to the last day of the Renewal Term.

         (5) The Comparison Amount for any portion of the Premises that
constitutes Limited Bracing Area shall be as indicated for "Limited Areas" on
Exhibit "A" attached hereto.

         (6) Subject to the terms of this Section 4(6), Landlord acknowledges
that Landlord has heretofore advised Tenant that Landlord currently expects that
(i) the portion of the Bracing Area in respect of which the distance from the
top of the six (6)-inch raised floor to the underside of the fireproofed
structural bracing and the Building Systems running adjacent thereto in such
portion of the Bracing Area is eight (8) feet or more will consist of
approximately 1,451 square feet of Rentable Area, and (ii) the portion of the
Bracing Area in respect of which the distance from the top of the six (6)-inch
raised floor to the underside of the fireproofed structural bracing and the
Building Systems running adjacent thereto in such portion of the Bracing Area is
less than eight (8) feet will consist of approximately 2,880 square feet of
Rentable Area. Subject to Section 4(1) hereof, Landlord shall not have any
liability to Tenant to the extent that the Bracing Areas do not conform to
Landlord's expectations as set forth in this Section 4(6).

         5. Special Rules for Ceiling Heights in the Eastern Core.

         (1) Notwithstanding Item 54 of the Architectural Requirements that
constitute part of the Work Exhibit, the Clear Height (hereinafter defined) in
the portions of the Premises that are located in the core of the Third Avenue
Building as shown on Exhibit "E" attached hereto and made a part hereof shall
not be less than eight (8) feet (such portions of the Premises that are located
in the core of the Third Avenue Building as shown on Exhibit "E" attached hereto
being referred to herein as the "Special East Core Areas"). As used herein, the
term "Clear Height" shall mean the height from the top of the six (6)-inch
raised floor to the underside of the fireproofed structure and the obstructions
that are required for the Building Systems (it being understood that such
obstructions for the Building Systems shall include, without limitation, the
chilled water supply and return piping, the general exhaust duct work, and the
toilet exhaust duct work, and any other items shown on Exhibit "F" attached
hereto and made a part hereof). Landlord shall not have the right to include in
the Premises (x) more than a cumulative total of approximately two thousand two
hundred ninety-two (2,292) square feet of Rentable Area that constitutes the
Special East Core Areas, or (y) any portion of the Special East Core Areas to
the extent that Tenant does not have access thereto through a passage having a
clear plan dimension of at least three (3) feet, six (6) inches and a Clear
Height of at least the height of the adjacent Special East Core Area.

         (2) The Fixed Rent for any Special East Core Area in respect of which
the Clear Height (x) is less than eight (8) feet and nine (9) inches, and (y)
complies with the requirements set forth in Section 5(1) hereof shall be (i)
Thirty Dollars ($30) per square foot of Rentable Area

                                       15
<PAGE>
for the 1st Rental Period, (ii) Thirty-Three and 3,000/10,000 Dollars ($33.3000)
per square foot of Rentable Area for the 2nd Rental Period, (iii) Thirty-Six and
9,630/10,000 Dollars ($36.9630) per square foot of Rentable Area for the 3rd
Rental Period, (iv) Forty-One and 289/10,000 Dollars ($41.0289) per square foot
of Rentable Area for the 4th Rental Period, (v) Forty-Five and 5,421/10,000
Dollars ($45.5421) per square foot of Rentable Area for the 5th Rental Period,
(vi) Fifty and 5,517/10,000 Dollars ($50.5517) per square foot of Rentable Area
for the 6th Rental Period, and (vii) Fifty-Six and 1,124/10,000 Dollars
($56.1124) per square foot of Rentable Area for the 7th Rental Period (any such
portion of the Premises within the core of the Third Avenue Building for which
the Clear Height is less than eight (8) feet and nine (9) inches being referred
to herein as "Limited East Core Space"). Nothing contained in this Section 5(2)
permits Landlord to require Tenant to accept Special East Core Areas that do not
comply with the height requirements set forth in Section 5(1) hereof (and,
accordingly, any portion of the Special East Core Areas in which the Clear
Height is less than eight (8) feet shall not constitute Usable Area for purposes
of the Lease).

         (3) In connection with the determination of the Rental Value of any
portion of the Renewal Premises that constitutes Limited East Core Space for the
Renewal Term, the Base Rental Amount shall be the product obtained by
multiplying (x) the number of square feet of Rentable Area in such portion of
the Renewal Premises, by (y) (a) Fifty-Six and 1,124/10,000 Dollars ($56.1124)
for the period from the first day of the Renewal Term to the day immediately
preceding the twenty-eighth (28th) anniversary of the Last Commencement Date,
(b) Sixty-Two and 2,848/10,000 Dollars ($62.2848) for the period from the
twenty-eighth (28th) anniversary of the Last Commencement Date to the day
immediately preceding the thirty-second (32nd) anniversary of the Last
Commencement Date, and (c) Sixty-Nine and 1,361/10,000 Dollars ($69.1361) for
the period from the thirty-second (32nd) anniversary of the Last Commencement
Date to the last day of the Renewal Term.

         (4) The Comparison Amount for any portion of the Premises that
constitutes Limited East Core Space shall be as indicated for "Limited Areas" on
Exhibit "A" attached hereto.

         6. Amendment to Memorandum of Lease. Landlord and Tenant shall execute,
acknowledge and deliver, simultaneously with the execution and delivery hereof,
(i) an Amendment to Memorandum of Lease, in the form of Exhibit "G" attached
hereto and made a part hereof, and (ii) any transfer tax returns that are
required to accompany such memorandum for recording purposes. Tenant shall
submit such Amendment to Memorandum of Lease for recording in the appropriate
government office promptly after the date hereof. Tenant shall pay the recording
charges associated therewith, except that Landlord shall pay any transfer taxes
associated therewith.

         7. Broker. Landlord and Tenant hereby represent and warrant to the
other party that such party has not dealt with any broker in connection with the
execution and delivery hereof, except Broker. Tenant shall indemnify Landlord,
and hold Landlord harmless, from and against, any claim for commission or other
similar compensation that is made by any broker with whom Tenant has dealt
(including, without limitation, Broker). Landlord shall indemnify

                                       16
<PAGE>
Tenant, and hold Tenant harmless, from and against, any claim for commission or
other similar compensation that is made by any broker with whom Landlord has
dealt, other than Broker.

         8. Landlord's Notices.

         (1) Landlord hereby advises Tenant that for purposes of Section 25.1 of
the Lease, Landlord's address is as follows:

         c/o Vornado Office Management LLC
         888 Seventh Avenue
         New York, New York   10019
         Attn: Mr. David R. Greenbaum

                  with copies to:

                  Vornado Realty Trust
                  210 Route 4 East
                  Paramus, New Jersey   07652
                  Attn: Joseph Macnow

                  and to:

                  Proskauer Rose LLP
                  1585 Broadway
                  New York, New York   10036
                  Attn: Lawrence J. Lipson, Esq.

         (2) Landlord hereby advises Tenant that for purposes of Section 25.2 of
the Lease, Landlord's address is as follows:

         c/o Vornado Office Management LLC
         888 Seventh Avenue
         New York, New York   10019
         Attn: Mr. David R. Greenbaum

                  with copies to:

                  Vornado Realty Trust
                  210 Route 4 East
                  Paramus, New Jersey   07652
                  Attn: Joseph Macnow

                  and to:

                  Proskauer Rose LLP

                                       17
<PAGE>
                  1585 Broadway
                  New York, New York   10036
                  Attn: Lawrence J. Lipson, Esq.

                  and to:

                  Vornado Realty Trust
                  888 Seventh Avenue
                  New York, New York 10019
                  Attn: Melvyn Blum

         9. Reaffirmation. Landlord and Tenant hereby acknowledge that (x) the
Lease, as amended hereby, remains in full force and effect, (y) accordingly,
nothing contained herein shall be deemed to limit or expand the parties'
respective rights and obligations regarding the preparation or review of the
Building Plans, as provided in Section 22.3 of the Lease, and (z) except as
expressly provided herein, Item 54 of the Architectural Requirements that
constitutes part of the Work Exhibit remains unmodified.

         IN WITNESS WHEREOF, 731 and BLP have duly executed and delivered this
First Amendment of Lease as of the date first above written.


                               SEVEN THIRTY ONE LIMITED PARTNERSHIP

                               By:      Alexander's Department Stores of
                                        Lexington Avenue, Inc., general partner


                                        By:      ______________________________
                                                 Name:
                                                 Title:


                               BLOOMBERG L.P.

                               By:      Bloomberg, Inc., general partner


                                        By:      _______________________________
                                                 Name: Paul F. Darrah, Jr.
                                                 Title: Director of Real Estate

                                       18
<PAGE>
                                   Exhibit "A"

                               Comparison Amounts



<TABLE>
<CAPTION>
Period                                         First Price        Second       Third Price       Fourth         Limited
------                                         -----------        ------       -----------       ------         -------
                                                  Space           Price           Space          Price           Areas
                                                  -----           -----           -----          -----           -----
                                                                  Space                          Space
                                                                  -----                          -----

<S>                                              <C>             <C>           <C>              <C>            <C>
1st Rental Period                                $50.4373        $54.4373        $53.5732       $54.0000       $30.0000

2nd Rental Period                                $55.9854        $60.4254        $59.4663       $59.9400       $33.3000

3rd Rental Period                                $62.1438        $67.0722        $66.0075       $66.5334       $36.9630

4th Rental Period                                $68.9796        $74.4501        $73.2684       $73.8521       $41.0289

5th Rental Period                                $76.5674        $82.6396        $81.3279       $81.9758       $45.5421

6th Rental Period                                $84.9898        $91.7300        $90.2740       $90.9931       $50.5517

7th Rental Period                                $94.3387       $101.8203       $100.2041      $101.0024       $56.1124

25th anniversary of the Last                     $94.3387       $101.8203       $100.2041      $101.0024       $56.1124
Commencement Date to the day
immediately preceding the 28th
anniversary of the Last Commencement
Date

28th anniversary of the Last                    $104.7159       $113.0206       $111.2265      $112.1126       $62.2848
Commencement Date to the day
immediately preceding the 32nd
anniversary of the Last Commencement
Date

32nd anniversary of the Last                    $116.2347       $125.4528       $123.4614      $124.4450       $69.1361
Commencement Date to the day
immediately preceding the 35th
anniversary of the Last Commencement
Date
</TABLE>
<PAGE>
                                   Exhibit "B"

                                Occupancy Density

<TABLE>
Description                                                        Maximum Allowable Occupancy per Egress
-----------                                                        --------------------------------------
                                                                   Stairs
                                                                   ------

<S>                                                                <C>
Lexington Avenue Building - Floors
20, 19, 18, 17, 16, 15 , 14, 13, 10, 9, and 8.                     240 persons per floor.

7th Floor - East                                                   480 persons

7th Floor - West                                                   360 persons

6th Floor - East                                                   480 persons

6th Floor - West                                                   480 persons

5th Floor - East                                                   480 persons

5th Floor - West                                                   480 persons

4th Floor - East                                                   480 persons

4th Floor - West                                                   480 persons

3rd Floor - East                                                   480 persons

3rd Floor - West                                                   480 persons

Lower Level 2                                                      780 persons
</TABLE>
<PAGE>
                                   Exhibit "C"

                               Schematic Drawings

Schedule 1 to Exhibit 22.1 is hereby modified to:

(I) add thereto the following Schematic Drawing (for the New Space):

                      A-111, last dated April 15, 2002; and

(II) delete the reference therein to Drawing A-2 for Lower Level 2, dated April
20, 2001, and substitute therefor a reference to Drawing A-101 for Lower Level
2, last dated February 15, 2002 and marked "Issued for Construction."
<PAGE>
                                  Exhibit "D"

                             Usable Area Statement

<TABLE>
<CAPTION>
Deliverable Unit                                                      Square Feet of Usable Area
----------------                                                      --------------------------
<S>                                                                   <C>
Lower Level 3                                                               2,047
Lower Level 2                                                              64,768
Third Floor - Lexington Building                                           37,434
Third Floor - Third Avenue Building                                        29,614
Fourth Floor                                                               69,111
Fifth Floor                                                                69,401
Sixth Floor                                                                47,913
Seventh Floor                                                              39,924
Eighth Floor - Lexington Avenue Building                                   18,340
Ninth Floor - Lexington Avenue Building                                    18,340
Tenth Floor - Lexington Avenue Building                                    18,340
Thirteenth Floor - Lexington Avenue
Building                                                                   15,527
Fourteenth Floor - Lexington Avenue
Building                                                                   15,570
Fifteenth Floor - Lexington Avenue
Building                                                                   15,570
Sixteenth Floor - Lexington Avenue
Building                                                                   15,570
Seventeenth Floor - Lexington Avenue
Building                                                                   15,570
Eighteenth Floor - Lexington Avenue
Building                                                                   15,570
Nineteenth Floor - Lexington Avenue
Building                                                                   15,570
</TABLE>
<PAGE>
                                   Exhibit "E"

                             Special East Core Areas

                                  See Attached

The attached plans shall apply only for purposes of depicting the Special East
Core Areas (as the hatched areas) and not for any other purpose.
<PAGE>
                                   Exhibit "F"

                                  Clear Height

See Typical East Core Floor Plan, F&K SKM-10-15-01.2, Latest Revision 10/15/01,
a copy of the relevant portion of which is attached hereto (it being understood
that the aforesaid plan shall apply for purposes of the definition of Clear
Height only to the extent that the aforesaid plan depicts space in the Special
East Core Areas).
<PAGE>
                                  Exhibit "G"

                        Memorandum of Amendment of Lease

SEVEN THIRTY ONE LIMITED PARTNERSHIP,

                                                              Landlord,

                           -and-

BLOOMBERG L.P.,

                                                              Tenant.

                        MEMORANDUM OF AMENDMENT OF LEASE

Dated as of April ___, 2002

The Premises affected by the within instrument lies in the City of New York,
County of New York, State of New York

Address of Property:            The Site Bounded by Lexington Avenue, East 58th
                                Street, East 59th Street and Third Avenue
Section:          5
Block:            1313
Lot:              40



                                              Record and Return to:


                                              WILLKIE FARR & GALLAGHER
                                              787 Seventh Avenue
                                              New York, New York  10019

                                              Attention:  Steven D. Klein, Esq.
<PAGE>
                        Memorandum of Amendment of Lease
                          Pursuant to Section 291-cc of
                         The New York Real Property Law

Reference to the Original Lease:    The Amendment of Lease described herein
                                    amends the Agreement of Lease, dated as of
                                    April 30, 2001, between Landlord and Tenant
                                    (said Agreement of Lease being referred to
                                    herein as the "Original Lease"; the Original
                                    Lease, as amended by such Amendment of
                                    Lease, being referred to herein as the
                                    "Lease"). A Memorandum of Lease for the
                                    Original Lease was recorded on May 14, 2001
                                    in the Office of the Register of The City of
                                    New York (New York County) in Reel 3281,
                                    page 1624.


Date of Execution of the            As of April ___, 2002
Amendment of Lease:

Name and Address of                 SEVEN THIRTY ONE LIMITED PARTNERSHIP
Landlord:                           c/o      Vornado Realty Trust
                                             210 Route 4 East
                                             Paramus, New Jersey  07652
                                             Attention:  Joseph Macnow

Name and Address of Tenant:         Until Tenant takes occupancy of the premises
                                    for the conduct of its business:

                                    BLOOMBERG L.P.
                                    499 Park Avenue
                                    New York, New York  10022
                                    Attention:  Paul F. Darrah, Jr.

                                      and

                                    From and after the date Tenant takes
                                    occupancy of the premises for the conduct
                                    of its business:

                                    BLOOMBERG L.P.
                                    731 Lexington Avenue
                                    New York, New York 10022
                                    Attention:  Paul F. Darrah, Jr.

Nature of the Amendment             The Amendment of Lease (i) deletes from the
                                    premises demised
<PAGE>
of Lease:                           by the Lease the entire rentable area on the
                                    twentieth (20th) and twenty-first (21st)
                                    floors of the Building, and (ii) adds to the
                                    premises demised by the Lease the entire
                                    rentable area on the third (3rd) floor of
                                    the Third Avenue Building. The Fixed
                                    Expiration Date for the premises demised by
                                    the Lease is the day immediately preceding
                                    the twenty-fifth (25th) anniversary of the
                                    last to occur of each of the Commencement
                                    Dates applicable to the Initial Premises
                                    (except that in no event shall the term of
                                    the Lease expire later than the twenty-sixth
                                    (26th) anniversary of the First Commencement
                                    Date). Tenant's renewal rights as set forth
                                    in the Original Lease remain in effect.

Description of the                  The entire third (3rd), fourth (4th), fifth
Premises demised by the             (5th), sixth (6th), seventh (7th), eighth
Original Lease, as                  (8th), ninth (9th), tenth (10th), thirteenth
amended by the                      (13th), fourteenth (14th), fifteenth (15th),
Amendment of Lease:                 sixteenth (16th), seventeenth (17th),
                                    eighteenth (18th), and nineteenth (19th),
                                    floors of the Lexington Avenue Building; the
                                    entire third (3rd), fourth (4th), fifth
                                    (5th), sixth (6th), and seventh (7th) floors
                                    of the Third Avenue Building; the entire
                                    Bridge Building; and portions of Lower Level
                                    2 and Lower Level 3 of the Building. Such
                                    buildings are to be constructed on the site
                                    bounded by Lexington Avenue, East 58th
                                    Street, East 59th Street and Third Avenue in
                                    the Borough of Manhattan, City, County and
                                    State of New York as such site is more
                                    particularly described on Schedule A
                                    attached hereto.


Memorandum of Lease:                This instrument, executed in connection with
                                    the Amendment of Lease, is intended to be
                                    and is entered into as a memorandum thereof
                                    solely for the purpose of recordation and
                                    the giving of notice of the tenancy created
                                    by the Lease and of the rights and
                                    obligations of Landlord and Tenant
                                    thereunder and shall not, in any event, be
                                    construed to change, vary, modify or
                                    interpret the Lease or any of the terms,
                                    covenants or conditions thereof, or any part
                                    thereof, which are set forth, described or
                                    summarized herein and reference is hereby
                                    made to the Lease for any and all purposes.
                                    All capitalized terms used in this
                                    Memorandum of Amendment of Lease shall have,
                                    unless otherwise defined herein, the
                                    meanings ascribed to them in the Amendment
                                    of Lease.


         IN WITNESS WHEREOF, Landlord and Tenant have respectively executed and
delivered this Memorandum of Amendment of Lease as of the date first above
written.




                                       1
<PAGE>
                                    SEVEN THIRTY ONE LIMITED PARTNERSHIP

                                    By:  Alexander's Department Stores of
                                         Lexington Avenue, Inc., general partner


                                         By:  /s/ Joseph Macnow
                                              -----------------------
                                       Name: Joseph Macnow
                                     Title: Executive Vice President

                                    BLOOMBERG L.P.

                                    By:  Bloomberg Inc., general partner


                                         By:  /s/ Paul F. Darrah, Jr.
                                              -----------------------
                                              Name: Paul F. Darrah, Jr.
                                              Title: Director of Real Estate
<PAGE>
STATE OF NEW YORK                   )
                                    )        ss.:
COUNTY OF NEW YORK                  )

         On the ___ day of April, 2002, before me, the undesigned, a Notary
Public in and for said State, personally appeared
______________________________, personally known to me or proved to me on the
basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and who acknowledged to me that such individual executed
such instrument in such individual's capacity, and that by such individual's
signature on such instrument, such individual, or the person upon behalf of
which such individual acted, executed the instrument.


                                  ---------------------------------
                                  Notary Public




STATE OF NEW YORK                   )
                                    )        ss.:
COUNTY OF NEW YORK                  )

         On the ____ day of April, 2002, before me, the undesigned, a Notary
Public in and for said State, personally appeared
______________________________, personally known to me or proved to me on the
basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and who acknowledged to me that such individual executed
such instrument in such individual's capacity, and that by such individual's
signature on such instrument, such individual, or the person upon behalf of
which such individual acted, executed the instrument.



                                  ---------------------------------
                                  Notary Public
<PAGE>
                                  SCHEDULE "A"

                                LEGAL DESCRIPTION

PARCEL I - FORMER LOTS 40 AND 42, NOW KNOWN AS PART OF LOT 40

ALL that certain plot, piece or parcel of land, situate, lying and being in the
Borough of Manhattan, City, County and State of New York, more particularly
bounded and described as follows:

BEGINNING: at the corner formed by the intersection of the southerly side of
59th Street with the westerly side of Third Avenue;

RUNNING THENCE southerly along the westerly side of Third Avenue, 150 feet 5
inches;

THENCE westerly parallel with the southerly side of 59th Street, 100 feet;

THENCE northerly parallel with the westerly side of Third Avenue, 150 feet 5
inches to the southerly side of 59th Street;

THENCE easterly along said southerly side of 59th Street, 100 feet to the point
or place of BEGINNING.

PARCEL II - FORMER LOT 43, NOW KNOWN AS PART OF LOT 40

ALL that certain plot, piece or parcel of land, situate, lying and being in the
Borough of Manhattan, City, County and State of New York, more particularly
bounded and described as follows:

BEGINNING at a point on the easterly side of Lexington Avenue distant 80 feet 5
inches southerly from the corner formed by the intersection of the easterly side
of Lexington Avenue with the southerly side of 59th Street;

THENCE southerly along the easterly side of Lexington Avenue 120 feet 5 inches
to the corner formed by the intersection of the northerly side of East 58th
Street and the said easterly side of Lexington Avenue;

THENCE easterly along the northerly side of East 58th Street 420 feet to the
corner formed by the intersection of the northerly side of East 58th Street and
the westerly side of Third Avenue;

THENCE northerly along the said westerly side of Third Avenue 50 feet 5 inches;

THENCE westerly parallel with the northerly side of 58th Street 100 feet;
<PAGE>
THENCE northerly parallel with the easterly side of Lexington Avenue and part of
the distance through a party wall at right angles to 59th Street 150 feet 5
inches to the southerly side of 59th Street;

THENCE westerly along the southerly side of 59th Street 225 feet;

THENCE southerly parallel with the easterly side of Lexington Avenue 80 feet 5
inches;

THENCE westerly parallel with the southerly side of 59th Street and part of the
distance through a party wall 95 feet to the point or place of BEGINNING.

PARCEL III - FORMER LOT 50, NOW KNOWN AS PART OF LOT 40

ALL that certain plot, piece or parcel of land, situate, lying and being in the
Borough of Manhattan, City, County and State of New York, more particulary
bounded and described as follows:

BEGINNING at the corner formed by the intersection of the easterly side of
Lexington Avenue with the southerly side of 59th Street;

RUNNING THENCE southerly along the easterly side of Lexington Avenue 80 feet 5
inches;

THENCE easterly parallel with the southerly side of 59th Street and part of the
distance through a party wall 95 feet;

THENCE northerly parallel with the easterly side of Lexington Avenue 80 feet 5
inches to the southerly side of 59th Street;

THENCE westerly along the southerly side of 59th Street 95 feet to the point or
place of BEGINNING.


                                  Schedule A-2