200 E 62 Condominium

Amendment 26 2024

Twenty-Sixth Amendment updates financial information, lists 12 unsold units with current prices and common charges, and discloses FinCEN reporting requirements for certain cash purchases.

• 12 unsold units listed with prices ranging from $2,150,000 to $4,510,000
• Current aggregate monthly common charges for unsold units: $26,784.87
• Current aggregate 2024/2025 monthly real estate taxes for unsold units: $28,074.67
• Current aggregate monthly rents from unsold units: $32,636.65
• 2023 certified financial statements and 2024 budget annexed; 2025 budget not yet available
• FinCEN Geographic Targeting Order effective October 16, 2024 requires reporting of certain all-cash purchases of $300,000 or more through April 14, 2025

Amendment 25 Dec 13, 2023

Updated financial and operational disclosures for 12 unsold units controlled by Successor Sponsor 200 E 62 St LLC.

• 12 unsold units listed (approximately 10.43% of total units); Successor Sponsor does not control board
• Current aggregate monthly common charges for unsold units: $25,445.37
• Current aggregate 2023/2024 monthly real estate taxes for unsold units: $42,966.31
• Current aggregate monthly rents from unsold units: $38,531.03
• Successor Sponsor current on all financial obligations; no other obligations due within 12 months
• Certified financial statement for year ended December 31, 2022 provided; 2024 budget not yet available
• FinCEN Geographic Targeting Order effective April 25, 2023 requires reporting of certain all-cash residential real estate purchases

Amendment 24 Dec 1, 2022

Successor Sponsor (200 E 62 ST LLC) acquired twelve unsold units and updated financial, governance, and escrow procedures.

• Twelve units purchased by Successor Sponsor (200 E 62 ST LLC) on September 29, 2022
• Successor Sponsor manager: Mark Fessel; address 780 West End Avenue, New York, NY 10025
• Current aggregate monthly common charges: $22,907.26; 2022/2023 real estate taxes: $27,853.91; tenant rent: $37,817.87
• Successor Sponsor not liable for original Sponsor's representations, rebates, or allowances; all units sold 'as is'
• Escrow agent: Goldstick, Weinberger, Feldman, & Grossman, P.C. (7 Penn Plaza, Suite #1602, New York, NY 10002)
• Escrow account at Signature Bank (485 Madison Avenue, New York, NY); FDIC insured up to $250,000
• Escrow interest rate as of January 2022: 0.30%; all interest paid to Purchaser at closing
• Attorney General no longer adjudicates deposit disputes; applies to Purchasers without fully executed Purchase Agreement before amendment date

Amendment 23 Sep 29, 2022

Original Sponsor sold 12 unsold residential units to a Successor Sponsor on July 25, 2022.

• 200 E 62 ST LLC becomes Successor Sponsor for units 04B, 05E, 06D, 12B, 15A, 17A, 18A, 18C, 19B, 21A, 22E, 28B
• Original Sponsor retains sponsorship of all other condominium portions and prior representations
• Mark Fessel is principal of Successor Sponsor, office at 780 West End Avenue, Suite 1E, New York, New York 10025
• Purchasers of Successor Sponsor units may not rely on Original Sponsor's prior representations
• Successor Sponsor is now Declarant under Declaration for its units

Amendment 22 Nov 10, 2021

The amendment updates financials through 2020, lists 15 unsold units as of October 27, 2021, revises purchase prices, and confirms the sponsor's financial status and board composition.

• Financial statements attached for year ended December 31, 2020
• 15 unsold residential units owned by sponsor as of October 27, 2021
• Sponsor no longer controls the condominium board (first annual meeting held April 11, 2018)
• 2021 budget finalized; 2022 budget not yet finalized as of amendment date
• Revised purchase prices for certain residential units in updated Schedule A
• Transfer tax calculation method changed per New York State Tax Law Section 1404(a)
• Sponsor's aggregate monthly common charges approximately $29,818.68 as of October 1, 2021
• No mortgage on unsold residential units; sponsor current on all financial obligations

Amendment 21 Oct 19, 2020

Amendment updates financials through 2019, lists 19 unsold units as of August 26, 2020, revises purchase prices, and extends the plan's effective period by 12 months from filing.

• 19 unsold residential units owned by Sponsor as of August 26, 2020
• Purchase prices of certain unsold units revised
• Budget updated
• Financial statements through December 31, 2019 included
• Sponsor aggregate monthly common charges approximately $32,434.00
• Sponsor aggregate monthly real estate taxes $49,149.63
• Sponsor mortgage on unsold units satisfied
• Plan effective period extended 12 months from filing date
• Schedule A prices decreased for 7 homes (median -31.4%): 4E $2,120,000 → $1,500,000; 7E $2,100,000 → $1,995,000; 8D $3,900,000 → $2,675,000; 11D $4,095,000 → $2,675,000; ...

Amendment 18 Feb 4, 2019

Sponsor revised purchase prices for certain units in the condominium.

Amendment 17 Dec 24, 2018

Purchase prices for certain units were revised.

Amendment 16 Oct 15, 2018

Amendment extends the plan's effective period, updates financials and budget, lists unsold units, establishes smoking policy, and confirms sponsor control of board has ended.

• Smoking prohibited in all Common Elements; permitted in individual Units only if smoke does not enter other Units or Common Elements
• 40 unsold Residential Units owned by Sponsor as of October 11, 2018
• Budget decreased by 0.34%
• Sponsor's aggregate monthly common charges approximately $64,937.00; aggregate quarterly real estate taxes $152,171.00
• Sponsor's loan principal balance $22,948,473.06, matures April 15, 2019
• First Annual Meeting held April 11, 2018; Sponsor no longer controls Board
• Plan effective period extended 12 months from filing date of this Amendment

Amendment 15 Apr 6, 2018

Purchase prices for certain units revised.

• Schedule A prices decreased for 33 homes (median -4.9%): 4C $1,850,000 → $1,695,000; 4D $3,400,000 → $3,150,000; 6C $1,975,000 → $1,825,000; 7A $3,115,000 → $2,850,000; ...

Amendment 14 Nov 30, 2017

Updates financial accounts, lists 54 unsold units, confirms board members, and extends plan effectiveness period.

• Working Capital Fund held at Citibank contains $224,891.24 as of November 3, 2017
• Reserve Fund held at Citibank contains $5,430,374.24 as of November 3, 2017
• 54 unsold residential units owned by Sponsor
• Condominium Board members: Brett Buehrer (President/Secretary), Tom Quinn (Vice President/Treasurer), Brian Bacharach (Manager)
• Sponsor's aggregate monthly common charges for its units are $105,498
• Sponsor's aggregate quarterly real estate taxes for its units are $431,133
• Sponsor's aggregate monthly rents from tenants are $79,925
• Acquisition Loan principal balance is $47,643,959.06 with maturity date April 15, 2018

Amendment 13 Nov 15, 2017

This amendment updates purchase prices for certain unsold units in the condominium.

Amendment 12 Apr 12, 2017

Units reconfigured and purchase prices updated.

• Units 29A, 29B, 29D, and 29E reconfigured into Units 29AB, 29D, and 29E
• Units 30D and 30E combined into Unit 30DE
• Revised floor plan for Unit PHA
• Purchase prices changed for certain unsold units
• Plan effective period extended by twelve (12) months from filing date

Amendment 11 Apr 10, 2016

Eleventh amendment updates purchase prices for unsold units in the condominium.

• Schedule A prices increased for 1 home (median +5.4%): 25B $3,695,000 → $3,895,000
• Schedule A prices decreased for 7 homes (median -3.6%): 6C $2,085,000 → $1,975,000; 10C $2,135,000 → $2,015,000; 14E $3,728,000 → $3,725,000; 17D $4,330,000 → $4,225,000; ...

Amendment 10 2016

Floor plans reconfigured for units 20A, 20B, 20D, 20E, 21E, 6C, 17C, and 17D; working capital and reserve fund balances updated; 82 unsold units as of November 9, 2016.

• Units 20A, 20B, 20D, 20E reconfigured into Units 20AB, 20D, 20E
• Unit 21E layout reconfigured
• Units 6C, 17C, 17D floor plans updated
• Working Capital Fund held at Citibank: $1,110,000 as of October 31, 2016
• Reserve Fund held at Citibank: $2,959,561.40 as of October 31, 2016
• 82 unsold residential units owned by Sponsor as of November 9, 2016
• Sponsor's aggregate monthly common charges: $212,652.00 as of November 9, 2016
• Plan effective period extended 12 months from filing date of this amendment
• Schedule A prices increased for 2 homes (median +6.3%): 14E $3,725,000 → $3,728,000; 21E $2,400,000 → $2,550,000
• Schedule A prices decreased for 1 home (median -5.1%): 25B $3,895,000 → $3,695,000

Amendment 9 Oct 5, 2016

Purchase prices for unsold units are revised.

• Schedule A prices decreased for 38 homes (median -6.9%): 4A $2,985,000 → $2,775,000; 4C $1,975,000 → $1,850,000; 4D $3,495,000 → $3,400,000; 5B $2,795,000 → $2,750,000; ...

Amendment 8 Jul 1, 2016

Sponsor revises purchase prices for certain unsold units in the condominium.

• Schedule A prices decreased for 2 homes (median -2.9%): 4C $2,120,000 → $1,975,000; 4D $3,600,000 → $3,495,000

Amendment 7 2016

Amendment updates financial details, terminates common charge waiver period effective May 1, 2016, and adds alternate floor plan option for D-line units.

• First Closing held February 1, 2016 for Unit 9A
• Working Capital Fund balance $109,996.00 as of March 21, 2016
• Reserve Fund balance $1,465,788.75 as of March 21, 2016
• Sponsor taking $3,408,159.75 Reserve Fund Credit for structural, window, and HVAC work
• 100 Unsold Units as of March 18, 2016
• Common charge waiver period terminates April 30, 2016; Unit Owners pay from May 1, 2016
• Updated Floor Plan for Unit 3D
• Alternate Floor Plan option for D-line Units on Floors 20 and above

Amendment 6 Mar 17, 2016

Purchase prices for certain unsold units are revised.

• Schedule A prices increased for 16 homes (median +0.8%): 4A $2,935,000 → $2,985,000; 5A $2,975,000 → $2,999,000; 6A $2,995,000 → $3,065,000; 7A $3,045,000 → $3,115,000; ...
• Schedule A prices decreased for 12 homes (median -4.6%): 5B $2,999,000 → $2,795,000; 5C $2,180,000 → $1,975,000; 5D $3,675,000 → $3,495,000; 9C $2,250,000 → $2,175,000; ...

Amendment 5 Jan 5, 2016

Purchase prices for certain unsold units are revised.

Amendment 4 Dec 18, 2015

Plan declared effective based on eighteen purchase agreements representing fifteen percent of 115 residential units, and effective period extended.

• Plan declared effective on eighteen (18) purchase agreements for residential units
• Eighteen purchase agreements represent fifteen percent (15%) of 115 residential units offered
• Six (6) purchase agreements from bona fide tenants in occupancy
• Twelve (12) purchase agreements from purchasers intending to occupy when vacant
• Effective period extended to six (6) months from filing date of this amendment

Amendment 3 Nov 24, 2015

Purchase prices for certain unsold units are revised with an updated Schedule A.

• Purchase prices for unsold units changed
• Updated Schedule A with new prices for tenant and non-tenant purchasers

Amendment 2 Oct 22, 2015

Amendment modifies tenant purchase rights, permits unit leasing after closing, and corrects floor plan scrivener's errors.

• Eligible tenants can purchase their leased unit at 82.5% of non-tenant price (17.5% discount) in as-is condition, or purchase any renovated unit at 94% of non-tenant price (6% discount)
• Tenants can apply their discount to a different unsold unit, but not to units in construction or already undergoing renovation
• Unit owners may lease their unit immediately after closing
• Purchasers prohibited from selling, listing, or advertising units for sale for 12 months after closing
• Purchasers prohibited from any pre-closing advertising, leasing, or selling activities
• After closing, purchasers may lease units without sponsor consent or restriction
• More favorable tenant terms, if offered by sponsor, apply retroactively to tenants who already signed purchase agreements
• Minor corrections made to floor plans for scrivener's errors

Amendment 1 Jul 23, 2015

Purchase prices for certain unsold units are revised with an updated Schedule A.

• Purchase prices for unsold units updated
• Updated Schedule A effective with revised prices for tenant and non-tenant purchasers
• Schedule A prices increased for 3 homes (median +3.0%): 14C $2,310,000 → $2,380,000; 16C $2,340,000 → $2,410,000; 18C $2,370,000 → $2,440,000
• Schedule A prices decreased for 1 home (median -2.2%): 17B $3,615,000 → $3,535,000