Fifth Avenue

Amendment 13 2023

Ownership of 87 unsold units transferred to new sponsor-successor Jober Upper Fifth Ave. LLC with revised offering terms.

• 87 unsold units transferred to Jober Upper Fifth Ave. LLC on March 13, 2023
• Original sponsor retained Units 2A and 3P at 1330 Fifth Avenue, all retail and parking units
• Post Vacancy Renovation Finishes requirement deleted; units offered in 'as is' condition
• Sponsor-Successor may negotiate individual purchase prices and terms without filing amendments
• Sponsor-Successor obligated to contribute 3% of gross sale price to reserve fund, up to maximum $1,244,069.91 by February 8, 2025
• MD Squared Property Group LLC designated as managing agent for unsold units
• Sponsor-Successor assumes no liabilities of original sponsor except for unsold units

Amendment 12 Nov 15, 2022

Reserve fund credit applied; one unit price decreased; plan term extended.

• Reserve Fund Credit of $1,282,525 applied against Initial Reserve Fund Contribution
• Supplemental Reserve Fund Contribution of $1,563,255 made through November 1, 2022
• Remaining Reserve Fund Contribution Balance obligation of $1,001,795
• Unit 3P at 1330 Fifth Avenue price decreased to $879,000
• Plan term extended for twelve months from amendment filing date

Amendment 11 2022

Eleventh amendment updates reserve and operating funds, adjusts prices for two unsold units, and extends the offering plan term by twelve months.

• Reserve fund balance: approximately $1,996,207.45 (as of August 1, 2022)
• Working capital fund balance: approximately $122,829.92 (as of August 1, 2022)
• Operating account balance: approximately $277,768.46 (as of August 1, 2022)
• Unit 1330 2A price changed to $799,000
• Unit 1330 3P price changed to $899,000
• Superintendent's Unit mortgage of $895,000 due July 1, 2025
• Certificate of Occupancy transition to DOB NOW system underway; residential spaces unaffected
• Offering plan term extended twelve months from filing date

Amendment 10 2021

Tenth Amendment updates reserve and working capital fund balances, decreases prices on 9 unsold units, clarifies transfer tax obligations under amended NY tax law, and extends the plan term by 12 months.

• Reserve fund balance approximately $1,168,722 as of May 1, 2021
• Working capital fund balance approximately $84,706 as of May 1, 2021
• 9 unsold units had prices decreased (ranging from $685,000 to $1,139,000)
• Unsold units no longer subject to any mortgages (paid off June 29 and August 9, 2021)
• Transfer tax calculation methods updated per amended NY Tax Law Section 1404 effective July 1, 2021
• Purchasers required to pay NYC RPT Tax and NYS RET Tax at closing
• Plan term extended for 12 months from amendment filing date
• Sponsor current on all financial obligations; first unit owners meeting held April 7, 2021

Amendment 6 May 21, 2019

The amendment updates terrace square footage for certain units and adds disclosure regarding FinCEN currency reporting requirements for purchases over $300,000.

• Limited Common Element square footage revised for units at 1325 and 1330 Fifth Avenue (minimal changes to terraces)
• New disclosure: title companies must report purchaser information for transactions over $300,000 paid without bank financing using cash, checks, or wire transfers

Amendment 5 Mar 13, 2019

Commercial units are now offered for sale and the anticipated commencement date of condominium operations is moved to June 1, 2019.

• Commercial Units offered for sale with pricing in Schedule A
• New anticipated commencement date: June 1, 2019
• Updated First Year budget for condominium operations (no change in budget amount)

Amendment 4 Jan 31, 2019

Offering prices for two units are changed.

• Unit 1330/30 price changed to $695,000
• Unit 1330/61I price changed to $985,000

Amendment 3 Jan 3, 2019

Offering prices for three units were changed.

• Unit 1330/21 price changed to $930,000
• Unit 1330/2L price changed to $675,000
• Unit 1330/6N price changed to $1,395,000
• Schedule A prices decreased for 2 homes (median -10.6%): 1330 2L $760,000 → $675,000; 1330 6N $1,560,000 → $1,395,000

Amendment 2 2018

Amendment corrects post-renovation floor plans and adds a smoking policy compliant with NYC Local Law 147.

• Post-renovation floor plans corrected for minor kitchen and bathroom changes
• Architect's Descriptions of Property and Building Condition revised
• New Certification by Architect attached
• Smoking prohibited in common areas and within 30 feet of building entrances
• Smoking allowed in units and exclusive terraces/balconies if no odor permeates to other units
• $250 fine per smoking violation imposed to unit owner's common charges
• Unit owners must include smoking policy in leases and inform occupants and guests
• Smoking policy incorporated as House Rule #23 and into interim lease and purchase agreements

Amendment 1 Aug 16, 2018

Amendment updates the selling agent address and designates five mortgage lenders for buyer financing.

• Selling agent address changed to 97 North 10 Street, #2C, Brooklyn, New York 11249
• Five designated lenders added: Citizens Bank, Citibank, Wells Fargo, First Republic Bank, and Popular Mortgage