121 St. Nicholas Avenue Housing Development Fund Corporation

Amendment 3 Oct 5, 2022

This amendment sets the Effective Date based on purchase agreements for 13 apartments (54%), corrects the vacant apartment from 3B to 3D, and attaches a revised Schedule A.

• Effective Date set based on purchase agreements for 13 Apartments, representing 54% of the Building's apartments
• Apartment 3D, not 3B, is vacant (correcting the Second Amendment)
• Revised Schedule A attached as Exhibit II
• Sponsor's affidavit supporting the Effective Date attached as Exhibit I
• No other changes to the Cooperative Information Package

Amendment 2 Aug 4, 2020

This amendment lowers the purchaser-contract threshold for setting the Effective Date, expands the Initial Tenant and Insider definitions to cover successors, offers vacant Apartments 3B and 5B at outsider prices, and gives purchasers a right to rescind.

• Effective Date threshold lowered from 80% to 51% of the total Apartments in the Building in contract
• Purchasers given the right to rescind their Purchase Agreement, with written notice due within fifteen (15) calendar days of delivery of the Amendment
• Initial Tenant and Insider definitions expanded to include family members with succession rights to a rent stabilized lease
• Apartments 3B and 5B are now vacant and offered at the outsider purchase prices in the revised Schedule A (Exhibit I)
• Rescinding Initial Tenants get the purchase price returned, and rescinding Insiders get the down payment returned, within fifteen (15) calendar days

Amendment 1 2019

The amendment lets insiders finance up to 95% of the purchase price, removes the initial rents for non-purchasing tenants from the plan in favor of rent-stabilized leases, and corrects a typo in the estimated maintenance for six apartments.

• Insiders may finance up to 95% of the purchase price and must include a certified bank check or money order for 5% of the purchase price with their signed Purchase Agreement and Purchasing Tenant Affidavit
• Initial rents for non-purchasing tenants are no longer listed; their rent-stabilized leases remain in effect, subject to increases set by the Rent Guidelines Board, and the Monthly Rent column is removed from Schedule A
• Estimated Maintenance for Apartments 2D, 3D, 4D, 5D, 6D and 7D corrected to $1,018.77 from $10,018.77