Sky View Parc Residential Condominium Tower 6 A/K/A Grand One At Sky View Parc

Amendment 18 Oct 18, 2021

Amendment extends the offering period for 12 months, updates Schedule A with current common charges and real estate taxes, provides current budgets and financial statements, and clarifies tax law changes.

• Offering period extended 12 months from filing date
• Schedule A updated with common charges and real estate taxes for fiscal year June 1, 2021 to May 31, 2022
• Real estate taxes calculated using tax year 2021/2022 amounts from NYC Department of Finance
• 2 unsold units remain: 11J at $2,275,888 and PH1J at $2,359,888
• Monthly common charges for all unsold units approximately $4,066.79; monthly real estate taxes approximately $3,482.38
• Sponsor (Sky View Parc II, L.P.) current on all financial obligations to condominium
• Permanent Certificate of Occupancy not yet issued; $10,000 estimated to obtain it
• New York State Tax Law Section 1404(a) amended effective July 1, 2021 regarding RETT calculation

Amendment 17 Nov 9, 2020

Extended the offering period for twelve months and updated Schedule A with current common charges and real estate taxes.

• Offering period extended twelve months from filing date
• Schedule A updated with common charges effective June 1, 2020 to May 31, 2021
• Real estate taxes calculated using actual 2020/2021 tax year amounts from NYC DOF
• Two unsold units: 11J priced at $2,275,888 and PH1J at $2,359,888
• Monthly common charges for all unsold units approximately $3,609.73 aggregate
• Monthly real estate taxes for all unsold units approximately $3,356.07 aggregate
• Permanent Certificate of Occupancy not yet issued; $10,000 estimated amount needed
• FinCEN beneficial ownership reporting requirements for entity purchasers effective through May 4, 2021

Amendment 16 Oct 24, 2019

Sixteenth amendment extends the offering period twelve months, updates Schedule A prices and charges, provides 2019–2020 budgets, and discloses new New York State transfer and mansion taxes effective July 1, 2019.

• Schedule A updated with current common charges and real estate taxes (tax year 2019/2020)
• Offering period extended twelve months from filing date
• New York State transfer tax and mansion tax increase disclosed for closings on or after July 1, 2019
• Schedule B budget for June 1, 2019 through May 31, 2020 provided
• Schedule C budget for Sky View Parc Homeowners Association for June 1, 2019 through May 31, 2020 provided
• Unsold units list as of October 15, 2019: 3 units with aggregate monthly common charges of $4,532.91 and taxes of $4,214.41
• No lawsuits or proceedings affecting the offering
• Permanent Certificate of Occupancy not yet issued; $50,000 escrow posted
• Schedule A prices increased for 1 home (median +2.7%): 8M $1,125,888 → $1,155,888

Amendment 15 Nov 6, 2018

Fifteenth Amendment extends the offering term, updates budgets and financial statements, adopts a smoking policy, and provides additional sponsor disclosures.

• Smoking prohibited within 25 feet of building entrances and in lobbies, hallways, elevators, common areas; permitted only in private units and adjoining balconies; effective August 15, 2018
• Offering term extended 12 months from filing of this Amendment
• Audited financial statements for periods ending May 31, 2017 and May 31, 2018 attached
• Schedule B and C budgets for June 1, 2018 through May 31, 2019 with no material changes
• Monthly Common Charges on unsold units approximately $4,369 in aggregate; monthly real estate taxes approximately $3,810 in aggregate as of October 31, 2018
• Sponsor controls board until December 12, 2021 (fifth anniversary of first closing) or closing of 90% of units, whichever is later
• Permanent Certificate of Occupancy not yet issued; $50,000 escrow posted for PCO costs

Amendment 14 Jun 4, 2018

Amendment extends the offering term for twelve months and updates budgets, disclosures, and financial information for the condominium and homeowners association for June 1, 2018 through May 31, 2019.

• Offering term extended twelve months from filing date
• Schedule B budget updated for June 1, 2018 through May 31, 2019
• Schedule C budget updated for Sky View Parc Homeowners Association for June 1, 2018 through May 31, 2019
• Tax Cuts and Jobs Act of 2017 disclosed as special risk affecting homeownership tax projections
• Unsold units: approximately $8,132.00 monthly common charges and $7,143.00 monthly real estate taxes in aggregate
• Permanent Certificate of Occupancy not yet issued; $50,000 escrow posted with First Republic Bank
• No lawsuits or proceedings that may materially affect the offering

Amendment 13 Dec 4, 2017

Purchase prices of certain unsold units increased; Schedule A updated with current common charges and real estate taxes; mortgage on unsold units paid off.

• Purchase prices increased for certain unsold units
• Schedule A updated with real estate taxes based on tax year 2017/2018
• Common charges updated for current operating year June 1, 2017 to May 31, 2018
• Mortgage from Bank of the Ozarks paid off; unsold units no longer financed
• First Annual Meeting held May 23, 2017; board members designated
• FinCEN title company reporting requirements effective until March 20, 2018

Amendment 12 Oct 18, 2017

Purchase prices increased for 15 unsold units.

• Schedule A prices increased for 10 homes (median +3.7%): 10Q $828,888 → $850,888; 11Q $810,888 → $855,888; 12C $729,888 → $750,888; 16N $842,888 → $868,888; ...

Amendment 11 May 25, 2017

Amendment extends the offering period by 12 months and increases purchase prices for certain unsold units.

• Purchase prices increased for units listed in Exhibit A
• Offering period extended 12 months from filing date
• First closing occurred December 12, 2016 (Unit 11H)
• Waiver Period in effect; Sponsor paying all operating expenses
• Permanent Certificate of Occupancy not yet issued; $50,000 escrow posted
• Sponsor controls Board until fifth anniversary of First Closing or 90% unit closings
• Monthly Common Charges for unsold units approximately $40,242.70 aggregate; real estate taxes approximately $22,886.60 aggregate
• Mortgage on unsold units with Bank of the Ozarks, maturity July 7, 2018, total commitment $152,500,00
• Schedule A prices increased for 22 homes (median +2.2%): 8H $715,888 → $735,888; 8M $1,098,888 → $1,125,888; 8R $773,888 → $825,888; 9L $775,888 → $799,888; ...

Amendment 10 Dec 22, 2016

Tenth Amendment discloses first closing of Unit 11H on December 12, 2016, updates budgets and unit prices, and establishes escrow and working capital arrangements.

• First closing occurred December 12, 2016 for Unit 11H
• Temporary Certificate of Occupancy issued December 1, 2016; permanent PCO not yet issued
• Purchaser deposits held in escrow at Bank of America until PCO obtained
• Escrow account balance as of November 30, 2016: $20,491,488.01
• PCO security deposit of $50,000 posted with First Republic Bank
• Working Capital Fund funded with two months' Common Charges per unit; $43,131.99 deposited as of December 16, 2016
• Sponsor waiving Common Charges collection starting with first closing; will provide 30 days' notice when waiver ends
• Purchase prices of certain unsold units increased; 223 unsold units as of December 16, 2016
• Schedule A prices increased for 98 homes (median +1.4%): 8C $660,888 → $685,888; 8D $667,888 → $705,888; 8H $710,888 → $715,888; 8I $605,888 → $610,888; ...

Amendment 9 Nov 22, 2016

Amendment extends the plan term, updates construction status and window washing procedures, adds title company reporting requirements, and clarifies unit measurement methodologies.

• Construction expected to permit closings to begin in or about December 2016
• Window washing rigs on east and west sides only; Board cleans those units, owners clean north and south side units
• Building staff may access PH1A and PH1J terraces for window cleaning with one day notice, minimum twice yearly
• FinCEN title company reporting requirement for certain entity purchases over $3M (Manhattan) or $1.5M (other boroughs) with cash payments
• Unit square footage measured from exterior building walls to centerline of demising walls; columns and pipes not deducted
• Unit ceiling heights measured from top of finished floor to underside of concrete or suspended ceiling
• Exemption deleted: flip payment waived if owner agrees to purchase another unit in the Parc
• Plan filing period extended six months

Amendment 8 Nov 1, 2016

Offering prices increased for multiple unsold units across floors 8 through 11.

• Offering prices raised for 71 unsold units on floors 8-11
• Price increases range from $5,000 to $235,000 per unit
• Sponsor reserves right to revise further prices and terms for remaining unsold units
• Schedule A prices increased for 207 homes (median +3.3%): 8C $635,888 → $660,888; 8D $642,888 → $667,888; 8E $757,888 → $777,888; 8F $757,888 → $777,888; ...

Amendment 7 Apr 14, 2016

Amendment declares the plan effective, combines 15 units reducing total from 247 to 232, changes resident manager's unit from 8F to 18D, and updates amenities access for phased development of Grand Two and Grand Three towers.

• Plan declared effective as of April 14, 2016 with 217 executed agreements
• Unit combinations reduce total units from 247 to 232
• Resident Manager's Unit changed from 8F to 18D with Purchase Price of $682,888
• RMU Payments required from purchasers for resident manager's unit costs
• Grand Club amenities building anticipated to open May 2017 for Grand One, Grand Two, and Grand Three residents
• Grand One residents to lose access to Phase I indoor recreational facility once Grand Club opens
• Closings of title to Units anticipated to begin 3rd or 4th Quarter 2016
• DOB sign-off on revised Plans and Specifications anticipated within 30 days
• Schedule A prices increased for 206 homes (median +2.8%): 8C $612,888 → $635,888; 8D $622,888 → $642,888; 8E $704,888 → $757,888; 8F $699,888 → $757,888; ...
• Schedule A prices decreased for 1 home (median -1.7%): 11K $1,074,000 → $1,055,888

Amendment 6 Nov 12, 2015

Amendment updates the offering plan term, changes sponsor's closing counsel firm, increases unit prices, and provides construction status.

• Sponsor's Closing Counsel changed to Levitt & Boccio, LP at 60 Columbus Circle, 20th Floor, New York, New York 10023
• Purchase Prices of units increased per revised Schedule A
• Effective period extended six months from filing of this Amendment
• Construction Lender (Bank of the Ozarks) to consent to condominium formation with lien limited to unsold units or subordinate lien
• Superstructure of initial eight floors erected as of filing date
• Closings of title to units contemplated to begin on or about Fall 2016
• Schedule B and C budgets have no material changes; re-certification dated October 30, 2015 from budget expert annexed
• Grand Two at Sky View Parc accepted for filing October 14, 2015 under File No. CD15-0155

Amendment 5 Jul 13, 2015

Purchase prices of certain unsold units are increased.

• Purchase prices increased for units in Floors 8, 9, 10, and 11 as shown in revised Schedule A
• Operating period covered: June 1, 2015 to May 31, 2017 (first year) and June 1, 2016 to May 31, 2017 (second year)
• Schedule A prices increased for 237 homes (median +1.3%): 8C $602,888 → $612,888; 8D $612,888 → $622,888; 8E $694,888 → $704,888; 8F $689,888 → $699,888; ...
• Schedule A prices decreased for 2 homes (median -0.8%): PH3S $656,888 → $651,888; PH2F $777,888 → $767,888

Amendment 4 Mar 20, 2015

Purchase prices increased for certain unsold units.

• Prices raised on units in floors 8, 9, 10, and 11
• Sponsor reserves right to revise purchase prices further for units without signed purchase agreements
• Schedule A prices increased for 243 homes (median +1.1%): 8C $592,888 → $602,888; 8D $602,888 → $612,888; 8E $684,888 → $694,888; 8F $679,888 → $689,888; ...

Amendment 3 Feb 25, 2015

Offering prices increased for unsold units across multiple floors.

• Prices of unsold units in floors 8–11 raised by $7,000–$40,000 per unit
• Floor 11K unit price set to $1,034,000
• Schedule A prices increased for 130 homes (median +0.7%): 8E $679,888 → $684,888; 8F $674,888 → $679,888; 8G $673,888 → $678,888; 9E $687,888 → $692,888; ...

Amendment 2 Feb 17, 2015

Amendment increases offering prices for certain unsold units in the condominium.

• Offering prices increased for units on Floor 8 (units 8C through 8S)
• Offering prices increased for units on Floor 9 (units 9C through 9S)
• Offering prices increased for units on Floor 10 (units 10A through 10T)
• Offering prices increased for units on Floor 11 (units 11A through 11M)

Amendment 1 Jan 23, 2015

Amendment changes the condominium name to Grand One at Sky View Parc, transfers sponsorship to SKY VIEW PARC II, L.P., updates prices and unit specifications in Schedule A, and modifies insurance and HOA provisions.

• Condominium name changed to Grand One at Sky View Parc
• Sponsor changed from FTC RESIDENTIAL COMPANY III, L.P. to SKY VIEW PARC II, L.P.
• Revised Schedule A with updated Purchase Prices and unit square footages
• Updated bedroom/bathroom counts for certain Units
• Common interest percentages updated for all units
• Floor Plans replaced with updated versions
• Liability insurance requirement reduced from $4,000,000 umbrella coverage to $1,000,000
• Schedule A prices increased for 244 homes (median +3.9%): 8C $568,888 → $592,888; 8D $563,888 → $602,888; 8E $653,888 → $679,888; 8F $648,888 → $674,888; ...
• Schedule A prices decreased for 1 home (median -1.3%): PH1L $748,888 → $738,888