175-06 Owners

Amendment 23 Jan 2, 2007

Sterling Queensboro LLC's nine unsold apartments (2,864 shares) may be offered at $800 per share, subject to negotiation, and maintenance rises to $2.264 per share per month from February 1, 2007.

• Nine unsold apartments (2,864 shares) held by Sterling Queensboro LLC may be offered for sale at $800 per share, subject to negotiation
• Maintenance increased by approximately 6.8% to $2.264 per share per month, effective February 1, 2007
• Maintenance was approximately $2.1199 per share per month as of November 2006
• Sterling pays approximately $6,071 per month in maintenance and receives approximately $10,862 per month in subtenant rent
• The Corporation has not provided Sterling with a 2007 budget
• Victor Fein is the only current director affiliated with Sterling; Sterling does not control the board
• Exhibit C adds the Corporation's certified financial statements for 2005 and the 2006 budget

Amendment 22 2005

The amendment updates the sponsor's unsold-share sales for nine apartments, reports Sterling Queensboro's maintenance and rental income for those apartments, and discloses two new per-share assessments and board and financial information.

• Nine unsold apartments (2,864 shares) held by Sterling Queensboro LLC may be offered at $600 per share, subject to negotiation
• Assessment of $1.1768 per share imposed April 1, 2005 for increased operating expenses
• Assessment of $0.29 per share per month for November 1, 2005 through June 30, 2006 for increased fuel oil costs
• Maintenance charges approximately $2.1199 per share per month as of November 2005
• Sterling pays approximately $6,071 monthly in maintenance and receives approximately $9,151 monthly rent; one apartment was vacant
• Only Victor Fein of the listed directors is affiliated with Sterling, which does not control the board
• Corporation has not provided Sterling with a 2006 budget; 2004 certified financial statements and 2005 budget attached as Exhibit C
• Sponsor principal's other cooperatives listed in Exhibit B, with principals current on maintenance

Amendment 21 Jan 27, 2005

Sterling Queensboro LLC still holds the nine unsold apartments (2,864 shares) and may keep offering them at $600 per share, negotiable, while the amendment updates its maintenance payments, the Corporation's finances, a 2004 assessment, and the board of directors.

• Nine unsold apartments (2,864 shares, Exhibit A) remain offered by Sterling Queensboro LLC at $600 per share, subject to negotiation
• Sterling may negotiate price and terms such as renovations, closing costs, maintenance rebates and financing contingencies with each buyer
• As of November 2004, maintenance is approximately $2.1199 per share per month; Sterling pays about $6,071.48 per month to the Corporation
• Sterling's monthly rent from subtenants is approximately $10,231.69
• In 2003, the Corporation's operating expenses exceeded income by $40,611
• Assessment of $1.1768 per share imposed April 1, 2004
• Budgets for 2003, 2004 and 2005 attached as Exhibit D
• Current board listed; only the last-named director (Victor Fein) is affiliated with Sterling, so Sterling does not control the board

Amendment 20 2003

This amendment confirms that Sterling Queensboro LLC still holds 11 unsold apartments (3,419 shares) offered at $600 per share, reports its August 2003 maintenance and rent figures, and notes the Corporation's 2002 finances and a January 2003 real estate tax increase with no maintenance increase.

• Sterling's 11 unsold apartments (3,419 shares) may be offered at $600 per share, subject to negotiation
• As of August, 2003, maintenance is approximately $2.1199 per share per month, and Sterling pays approximately $7,248.04 monthly to the Corporation
• As of August, 2003, Sterling collects approximately $10,934.10 monthly rent from subtenants; one Apartment was vacant
• Sterling is current on payments and has no obligations due within the next twelve months other than maintenance and assessments
• Victor Fein is the only listed director affiliated with Sterling, so Sterling does not control the Board
• No 2003 budget has been provided; 2002 income exceeded operating expenses by $42,468 after a $42,671 excess of expenses over income in 2001
• Real property taxes rose approximately 18% effective January 1, 2003; maintenance has not been increased
• Certified 2002 financial statements are attached as Exhibit C

Amendment 19 2002

Sterling Queensboro LLC, which holds 16 unsold apartments, may offer them at $600 per share and updates the plan's maintenance, board, sponsor, and financial disclosures for 175-06 Devonshire Road.

• 16 unsold apartments (Exhibit A, total 5,081 shares) owned by Sterling Queensboro LLC may be offered at $600 per share, subject to negotiation
• Effective July, 2002, maintenance approximately $2.1199 per share per month; Sterling pays approximately $10,771.36 monthly and receives approximately $16,629.03 monthly in subtenant rent
• Operating expenses exceeded revenues by $47,472 in 2001, $22,487 in 2000 and $83,502 in 1999
• No budget prepared for 2002 or 2001
• Victor Fein is the only listed director affiliated with Sterling, which does not control the board
• Sterling's principal is also principal of the sponsors or holders of unsold shares in the properties on Exhibit B
• Sterling has no financial obligations due within the next twelve months other than maintenance and assessments, and has been current on them
• Certified financial statements for 2001 and 2000 attached as Exhibit C