[Wien & Malkin LLP Letterhead]

November 30, 2003

TO PARTICIPANTS IN 250 WEST 57th ST. ASSOCIATES L.L.C. ("Associates"):

We enclose the operating report of the lessee, Fisk Building Associates L.L.C., for the fiscal year of the lease ended September 30, 2003. The lessee reported profit of $5,458,830 subject to additional rent for the lease year ended September 30, 2003, as against profit of $3,088,058 subject to additional rent for the lease year ended September 30, 2002. Additional rent for the lease year ended September 30, 2003 was $3,082,160; $752,000 was advanced against additional rent so that the balance of additional rent is $2,330,160.

Wien & Malkin LLP receives an additional payment for supervisory services of 10% of distributions in excess of 15% per annum on the original cash investment of $3,600,000. After reserving $20,000 for advances by Associates for payment of New York State 2004 estimated tax for non-resident individual investors and deducting $500 for the annual New York State LLC filing fees, $2,332,915 is available for distribution. Accordingly, Wien & Malkin LLP received $233,292 of the additional rent and the balance of $2,099,623 is being distributed to the participants. A check for your share of the additional distribution and the computation of the additional payment to Wien & Malkin LLP and distribution are enclosed.

The additional distribution of $2,099,623 represents a return of about 58.3% on the original cash investment of $3,600,000. Regular monthly distributions are at the rate of 20% a year, so that distributions for the lease year ended September 30, 2003 were about 78.3% per annum.

If you have any question about the enclosed material, please communicate with the undersigned.

Cordially yours,

WIEN & MALKIN LLP

By: Mark Labell

ML/fm

Encs.

250 West 57th St. Associates L.L.C.
Computation of Additional Payment for
Supervisory Services and Distribution
For the Lease Year Ended September 30, 2003
Secondary additional rent			$ 2,330,160
Primary additional rent for the lease year ended September 30, 2003			752,000
			3,082,160
Add:	Additional in connection with interest earned on excess mortgage proceeds		23,255
			3,105,415
Less:	Reserve for advances by Associates for payment of 2004 New York State estimated tax for non-resident individual investors	$ 20,000
	NYS 2004 LLC filing fee	500	20,500
			3,084,915
Less:	Additional basic payment to Wien & Malkin LLP from primary overage rent		12,000
Total rent to be distributed			3,072,915
Less:	15% return on $3,600,000 investment		540,000
Subject to additional payment at 10% to Wien & Malkin LLP			$ 2,532,915
Additional payment at 10%			$ 253,292
Paid to Wien & Malkin LLP as advance for additional rent			20,000
Balance of additional payment to Wien & Malkin LLP			$ 233,292
Summary:
	Additional distribution to participants		$ 2,099,623
	Payment to Wien & Malkin LLP, as above		233,292
Total secondary additional rent available for distribution
to participants and payment to Wien & Malkin LLP			$ 2,332,915

Anchin, Block & Anchin LLP Accountants and Consultants

1375 Broadway

New York, New York 10018 (212) 840-3456

FAX (212) 840-7066

ACCOUNTANTS' COMPILATION REPORT

TO THE MEMBERS OF

FISK BUILDING ASSOCIATES L.L.C.:

We have compiled the accompanying special-purpose statement of income and expense of Fisk Building Associates L.L.C. (a limited liability company) ("Associates") for the lease year ended September 30, 2003 in accordance with standards established by the American Institute of Certified Public Accountants.

A compilation is limited to presenting information that is the representation of management. We have not audited or reviewed the accompanying special-purpose statement and, accordingly, do not express an opinion or any other form of assurance on it.

The accompanying special-purpose statement of income and expense was prepared for the determination of additional rent due to 250 West 57th St. Associates L.L.C. in accordance with paragraph 2(B) of the lease, as modified, between Associates and 250 West 57th St. Associates L.L.C, and is not intended to be a presentation in conformity with generally accepted accounting principles..

This report is intended solely for the information and use of the managements of Associates and 250 West 57th St. Associates L.L.C., and should not be used for any other purpose.

Anchin, Block & AnchinLLP

New York, New York November 5, 2003

Fisk Building Associates L.L.C.
Special Purpose Statement of Income and Expense
October 1, 2002 through September 30, 2003
Income:
	Rent income	$	12,428,572
	Escalation rent income		1,285,643
	Net electric income		601,628
	Other income		266,978
Total Income				$	14,582,821
Expenses:
	Real estate taxes		2,467,128
	Labor costs		2,448,658
	Repairs, supplies and improvements		1,541,500
	Management and leasing		547,793
	Fuel oil		166,857
	Professional fees		571,380
	Security monitor system		39,853
	Water and sewer charges		76,686
	Insurance		289,038
	Telephone		35,407
	Advertising		149,539
	Miscellaneous		37,767
Total Expenses					8,371,606
Net Income before rent expense					6,211,215
Less, Basic rent expense					752,385
Net Income subject to primary and secondary additional rent					5,458,830
Less, Primary additional rent					752,000
Net income subject to seconday additional rent				$	4,706,830
Seconday additional rent at 50%				$	2,353,415
Computation of Additional Rent due Landlord:
	Primary additional rent			$	752,000
	Secondary additional rent				2,353,415
Total Additional rent					3,105,415
Less, Advances against additional rent					775,255	*
Additional rent due Landlord				$	2,330,160
*	Consisting of primary additional rent of $752,000 and $23,255 of interest earned and retained by 250 West 57th St. Associates L.L.C. on funds borrowed for the improvement program.
See accompanying Accountants' Compilation Report

Fisk Building Associates L.L.C.
Special Purpose Statement of Income and Expense
October 1, 2002 through September 30, 2003

Note 1 - The lease as modified effective January 1, 1984 provides for additional rent, as follows:

Additional rent equal to the first $752,000 of the Lessee's net operating income, as defined, in each lease year.

Further additional rent equal to 50% of the Lessee's remaining net operating income, as defined, in each lease year.