THE CONDO BOOK PROJECT

110-35 And 110-55 72nd Rd

110-35 And 110-55 72nd Road, Queens, NY 11375

Compare

Overview

110-35 And 110-55 72nd Rd is a co-op conversion in Queens.

  • Offering plan: Accepted January 1984 · 495 pages
  • Finishes: Hardwood floors and GE appliances
  • Prices: $12.2 million in all ($10.6 million when first offered)
  • Sponsor: Ilija Jaksic & Irena Jaksic, represented by Rucigay & Rucigay; principals Meir Stefansky
  • Subway: 5-minute walk to 75 Av (E, F); 5 minutes to Forest Hills-71 Av (E, F, M, R)
  • Amendments: 16, the latest in May 2014
  1. SubmittedMarch 1983
  2. AcceptedJanuary 1984
  3. 16 amendments

First-Year Budget

From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)

Ask Claude or ChatGPT: How do 110-35 And 110-55 72nd Rd's common charges compare with similar buildings? →

Property Taxes

The city's tax bill for this co-op building, and any tax breaks.

The estimate, city bills and tax breaksSee it free →

Amendments

Amendment 16 May 13, 2014

This amendment revises the escrow rules for buyer deposits, discloses the transfer of unsold shares to Ilija Jaksic and Irena Jaksic, and reports maintenance and operating figures.

  • Buyer deposits to be held in an IOLA escrow account at Capital One Bank, insured by the FDIC up to $250,000.00 per Deposit, with no interest credited to purchasers
  • Escrow Agent must confirm each Deposit in writing within ten (10) business days of placing it in escrow; purchaser may cancel within ninety (90) days if no notice arrives within fifteen (15) business days
  • Escrow Agent must give thirty (30) days' prior written notice before releasing a Deposit when no direction to release has been given
  • Unsold apartment shares conveyed March 30, 1989 by sponsor ALDEN-RALEIGH ESTATES to ILIJA JAKSIC and IRENA JAKSIC
  • As of April 1, 2014, JAKSIC owns 215 shares; monthly maintenance on the Unsold Apartment is $733.33; rental income is $0.00 because Apartment 610 is vacant
  • Maintenance is $3.41 per share per month and $40.93 per share per year; no assessment is in effect
  • Net operating losses after depreciation and amortization: $61,190.00 (2010), $56,193.00 (2011), $44,276.00 (2012)
  • JAKSIC does not control the Apartment Corporation Board of Directors

Amendment 15 Dec 24, 2003

This fifteenth amendment lists the sponsor's unsold shares with maximum sale prices, updates the financial disclosures, attaches a July 2003 to June 2004 budget and 2001 and 2002 financial statements, and reports a refinanced underlying mortgage.

  • Sponsor's unsold shares (7645 total) listed with maximum prices in Exhibit A
  • Underlying mortgage refinanced May 2, 2002 to $2,500,000 at 7.12%, maturing June 1, 2017, subject to prepayment penalties
  • Budget for July 1, 2003 through June 30, 2004 attached as Exhibit B; monthly maintenance $2.45175 per share
  • Budget Real Estate Taxes reflect an 18 ½ % New York City property tax rate increase
  • Sponsor's aggregate monthly maintenance on its shares: $11498.73; aggregate monthly rents from its units: $22,149.87
  • Financial statements for calendar years 2001 and 2002 attached as Exhibit C
  • Board of Directors membership listed; sponsor states it does not control the board
  • Sponsor states it is current on all financial obligations under the plan

Amendment 14 Jun 6, 2002

The sponsor raises the price of its unsold shares to $1,200 per share, allows negotiated sales below the Exhibit A prices without a further amendment, and states there are no other material changes to the plan.

  • Price of unsold shares raised to $1,200 per share
  • Sponsor may sell one or more units to individual buyers at prices lower than Exhibit A without filing an amendment
  • Exhibit A lists unsold shares by unit: Total Unsold Shares 10725, Total Units 48
  • No other material changes to the terms of the Offering Plan

Amendment 13 Feb 22, 2002

This 13th amendment raises the price of unsold shares to $800 per share, attaches a 2001-2002 budget and 2000 and 1999 financial statements, updates the escrow addresses, and reports that the Reserve Fund has been fully spent.

  • Price per unsold share increased to $800 per share
  • Sponsor may sell units below Exhibit A prices without filing an amendment
  • Reserve Fund fully expended; no Reserve Fund set aside at this time
  • Escrow agent address changed to 1481 42nd Street, Brooklyn, New York 11219
  • Chase Manhattan Bank, N.A. address changed to 4901 13th Avenue, Brooklyn, New York, 11219
  • Budget for July 1, 2001 through June 30, 2002 attached as Exhibit B; monthly maintenance $2.29135 per share
  • Financial statements for calendar years 2000 and 1999 attached as Exhibit C
  • Lender warning added that some lenders require 35% or 50% of units sold before lending
What each amendment changed, line by lineSee it free →

Team

Sponsor
Ilija Jaksic & Irena Jaksic
Principals
Meir Stefansky

From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?

Zoning

Zoning district
R7-1

Today's zoning, from city data (PLUTO 26v2).

Nearby

Free in ChatGPT or Claude

Ask Claude or ChatGPT about 110-35 And 110-55 72nd Rd

The fastest way to know any condo or co-op

Get Connected →
The Condo Book Project What does the offering plan say about subletting at 110-35 And 110-55 72nd Rd? Who were 110-35 And 110-55 72nd Rd's sponsor, attorney and architect?
Free: every budget line, property taxes, every amendmentSee it free