200 West 108th Street *

Amendment 20 Dec 16, 2024

This Twentieth Amendment updates the offering prices and financial disclosures for six unsold apartments, adds the Apartment Corporation's refinanced mortgage, attaches a 2025 budget and 2022-2023 audited financials, and extends the plan's term by twelve months.

• Current offering prices set for the six unsold apartments, with a total offering price of $19,128,650.00
• Plan term extended twelve (12) months from the date of the amendment
• Apartment Corporation refinanced its mortgage with Valley National Bank on October 28, 2020: monthly payments of $6,027.64 at a fixed 3.50%, maturing November 1, 2030
• Operating budget for the year beginning January 1, 2025 attached (Exhibit B), reflecting a 6.5% increase
• Aggregate monthly maintenance for unsold shares is $9,157.17; aggregate monthly rent is $6,826.81
• Audited financial statements for 2022 and 2023 attached (Exhibit C)
• FinCEN Geographic Targeting Order reporting disclosed, effective until April 14, 2025, subject to change
• Successor Sponsor is current on Apartment Corporation obligations; none of the unsold shares are pledged as collateral

Amendment 19 Jun 7, 2023

This nineteenth amendment updates the offering plan for six unsold apartments now owned by successor sponsor 108 Amsterdam Realty Co., LLC, with current prices and charges, the Apartment Corporation's 2020 mortgage refinancing, 2022 and 2023 budgets, 2020–2021 audited financials, a twelve-month term extension, and a FinCEN reporting disclosure.

• Six unsold apartments (2C, 2F, 3D, 5E, 7A, 15C) are now owned by successor sponsor 108 Amsterdam Realty Co., LLC
• Current sales prices listed: 2C $850,000.00; 2F $827,500.00; 3D $522,500.00; 5E $527,500.00; 7A $1,317,500.00; 15C $1,002,500.00
• Offering plan term extended twelve (12) months from the date of the amendment
• Apartment Corporation refinanced its mortgage on October 28, 2020 with Valley National Bank: approximately $2,000,000 principal, 3.50% fixed, matures November 1, 2030
• Aggregate monthly maintenance charges for unsold shares: $8,977.59; aggregate monthly rental charges: $6,355.56
• Projected budgets for the years 2022 and 2023 attached as Exhibit B
• Audited financial statements for 2020 and 2021 attached as Exhibit C; 2022 statements not yet available
• Added FinCEN Geographic Targeting Order reporting disclosure for title companies, effective until October 21, 2023

Amendment 18 Apr 5, 2022

This Eighteenth Amendment covers 10 unsold apartments now owned by successor sponsor 108 Amsterdam Realty Co., LLC, listing their prices and carrying charges, disclosing a 2020 building mortgage refinancing, extending the plan term 12 months, and adding a federal title-company reporting notice.

• Successor Sponsor 108 Amsterdam Realty Co., LLC owns the shares for 10 unsold apartments: 2C, 2F, 3D, 3F, 5D, 5E, 7A, 10B, 11A, 15C
• Current sales prices listed in Schedule A, from $522,500.00 (3D) to $1,357,500.00 (11A)
• Plan term extended twelve (12) months from the date of the amendment
• Apartment Corporation refinanced its mortgage with Valley National Bank on October 28, 2020; principal approximately $2,000,000, monthly payments $6,027.64 at 3.50% fixed, matures November 1, 2030
• Aggregate monthly maintenance for unsold shares: $14,818.90; aggregate monthly rental charges: $14,735.91
• 2022 budget and 2021 financial statements not yet available; 2021 budget (Exhibit B) and audited 2019 and 2020 statements (Exhibit C) attached
• Added FinCEN Geographic Targeting Order notice for title companies, effective until April 29, 2022
• Board of Directors list as of the amendment date provided

Amendment 17 Mar 11, 2021

This seventeenth amendment sets out the current status, prices, and finances for the 10 unsold apartments that the successor sponsor, 108 Amsterdam Realty Co., LLC, now owns, and it extends the plan's term by twelve months.

• Successor sponsor 108 Amsterdam Realty Co., LLC owns the shares for unsold Apartments 2C, 2F, 3D, 3F, 5D, 5E, 7A, 10B, 11A and 15C
• Offering prices for the 10 unsold apartments are set per Schedule A, from $522,500.00 (3D) to $1,357,500.00 (11A)
• Plan term extended twelve (12) months from the date of the amendment
• Apartment Corporation refinanced its mortgage with Valley National Bank on October 28, 2020: principal about $2,000,000, monthly payments of $777.78 at 3.50% fixed, maturing November 1, 2030
• Budget for the year commencing January 1, 2021 attached as Exhibit B
• Audited financial statements for 2018 and 2019 attached as Exhibit C; 2020 statements not yet available
• Aggregate monthly maintenance for unsold shares is $14,113.20; aggregate monthly rental charges are $14,637,32
• Geographic Targeting Order reporting by title companies applies to qualifying closings until May 4, 2021

Amendment 14 Jan 26, 2018

The OCR text is too garbled to read, so no changes to the offering plan can be identified.

Amendment 13 Jan 26, 2017

The OCR text is too garbled to identify any changes to the plan, so no amendment changes can be determined from it.

Amendment 12 Feb 26, 2016

This twelfth amendment sets new offering prices for the 17 unsold apartments, extends the plan's term by twelve months, and discloses the building's mortgage, the sponsor's loan, carrying costs, tenants, budget, and financial statements.

• New offering prices for all 17 unsold apartments; new total Offering Price $21,531,400.00
• Offering Plan term extended twelve (12) months from the date of the amendment
• Apartment Corporation mortgage with National Consumer Cooperative Bank: principal approximately $917,685.93, matures November 1, 2020
• Sponsor's security agreement with First Republic Bank covering all unsold shares: note approximately $3,000,000.00, matures January 1, 2021
• Aggregate monthly maintenance for unsold shares $19,084.47; aggregate monthly rent $28,470.27
• Only Apartment 1B is vacant; other unsold apartments are occupied by rent regulated and free market tenants
• Projected budget for the year commencing January 1, 2016 (Exhibit B) and audited financials for 2013 and 2014 (Exhibit C) attached

Amendment 11 Mar 27, 2015

This amendment resets the asking prices of the 18 unsold apartments to a new total of $19,353,000.00, extends the offering plan's term by 12 months, and updates the budget, financial statements, and debt disclosures.

• Prices of 18 unsold apartments reset; new total Offering Price $19,353,000.00
• Offering Plan term extended twelve (12) months from the date of this Amendment
• Apartment Corporation projected budget for year commencing January 1, 2015 attached as Exhibit "B"
• Audited financial statements for calendar years 2012 and 2013 attached as Exhibit "C"
• Apartment Corporation mortgage refinanced October 8, 2010 with National Consumer Cooperative Bank; principal approximately $951,226.78, matures October 7, 2020
• Successor Sponsor's security agreement on Unsold Shares secures a note of approximately $3,852,335.00, matures April 30, 2016
• Aggregate monthly maintenance for Unsold Shares $18,823.22; aggregate monthly rent $31,227.19; only Apartment 12G vacant
• Board of Directors of the Apartment Corporation listed as of this date

Amendment 10 Apr 10, 2014

This Tenth Amendment updates the status of 22 unsold apartments held by the successor sponsor, including their sales prices, rents, maintenance charges, the sponsor's security agreement, and the Apartment Corporation's mortgage, and it extends the offering plan's term by twelve months.

• Plan term extended twelve (12) months from April 10, 2014
• Successor Sponsor 108 Amsterdam Realty Co., LLC owns the shares for 22 unsold apartments, with current sales prices listed in Schedule A (Exhibit A)
• Aggregate monthly maintenance charges for unsold shares: $23,854.04
• Aggregate monthly rental charges for unsold shares: $39,471.51; Apartments 8F and 9C are vacant
• Unsold shares subject to a security agreement with John Lekutanaj, as Trustee, securing a note with principal of approximately $4,576,546.50 as of February 26, 2014, interest-only payments of $15,255.16 monthly at 4%, maturing April 30, 2016
• Apartment Corporation mortgage refinanced October 8, 2010 with National Consumer Cooperative Bank; principal balance $951,226.78, monthly payments $5,241.00 at 4.79%, maturing October 7, 2020
• Budget for the year commencing January 1, 2014 added as Exhibit B
• Audited financial statements for the years ending December 31, 2011 and December 31, 2012 added as Exhibit C

Amendment 9 Mar 15, 2013

Successor Sponsor 108 Amsterdam Realty Co., LLC took over 23 unsold apartments from a prior holder, and the amendment updates the mortgage, financing, escrow and purchase procedure disclosures.

• 108 Amsterdam Realty Co., LLC became Successor Sponsor on April 5, 2011 for the Transferred Unsold Shares of 23 unsold apartments
• Transferred Unsold Shares secure a note with principal balance of approximately $4,800,000, fixed 4%, interest-only payment of $16,000.00 monthly, maturing April 30, 2016
• Escrow provisions revised: Down Payment of at least ten percent (10%) payable to "Robert A. Pacht, Esq., as Escrow Agent"; Subscription Agreement replaced by Contract of Sale
• Escrow Account at Capital One Bank, insured by FDIC up to $250,000.00 per deposit
• Apartment Corporation refinanced its mortgage on October 8, 2010 with National Cooperative Bank for $1,000,000; new loan requires monthly payments of $5,241.00 at 4.79% on a 30-year amortization
• Aggregate Monthly Maintenance Charges for Unsold Shares are $25,009.49; aggregate Monthly Rental Charges are $47,286.89
• Revised Identity of Parties section replaces the one on Page 102
• Successor Sponsor registered as a dealer under GBL § 359-e via M-10 registration

Amendment 8 Jun 23, 2006

The amendment updates the plan after Peter Lekutanaj's unsold shares passed to his revocable living trust, which is now the Sponsor, and it adds 2004-2005 financial statements, a $2,600.00 maximum price per share, and a 2006 budget based on the 2004 forecast.

• Unsold shares transferred to The Peter Lekutanaj Revocable Living Trust on December 19, 2005; Peter Lekutanaj died January 25, 2006; Trust is now Sponsor
• Trust holds unsold shares for 28 apartments
• Maximum price per share offered by Sponsor is $2,600.00
• Sponsor reserves right to negotiate terms, including reduced down payment (at least $1,000) and financing contingency
• Financial statements for years ending December 31, 2004 and 2005 added
• Trust also holds 29 apartments at 127 West 96th Street; April 2005 lease modification removes real estate taxes from Base Rent; $148,199.97 unbilled Additional Rent payable in 49 payments of $3,087.50 starting October 1, 2005
• No budget prepared for 2006; 2004 forecast used as the budget
• Unsold units: aggregate monthly maintenance $26,763.66 and aggregate monthly rents $52,620.85

Amendment 7 Feb 9, 2005

This amendment adds 2001-2003 financial statements, updates the unsold-share holder's unsold apartments, negotiable terms and price cap, and states that the 2003 forecast is being used as the 2004 budget.

• Financial statements for the years ending December 31, 2001 through 2003 added as Exhibit A
• Peter Lekutanaj, Holder of Unsold Shares, holds unsold shares allocated to 28 apartments
• Maximum price per share offered by Sponsor is $2,600.00
• Holder of Unsold Shares may negotiate terms, including a reduced down payment deposit (but at least $1,000) and financing contingency
• Holder's financial obligations to the Apartment Corporation due within 12 months: NONE
• Aggregate monthly maintenance charge for units owned by Holder is $26,763.66; aggregate monthly rents received are $52,620.85
• Holder also has unsold shares allocated to 29 apartments at 127 West 96th Street
• No budget prepared for 2004; the Forecast for 2004 in the 2003 Financial Statement is used as the Budget

Amendment 6 Mar 5, 2002

This Sixth Amendment names Peter Lekutanaj as holder of 31 unsold apartments, sets a maximum price of $1,200.00 per share and lists negotiable terms, replaces the escrow disclosure, changes the sales attorney, and adds 1995-2000 financial statements, a 2001 budget forecast, and the November 16, 2000 mortgage refinancing.

• Peter Lekutanaj, a principal of the original Sponsor, is Holder of Unsold Shares for 31 apartments
• Maximum price per share offered by Sponsor is $1,200.00
• Holder may negotiate terms including renovations, credits, reduced down payment (at least $1,000), financing contingency and closing costs
• Escrow disclosure replaced: downpayments go to a Marshall S. Schiff, P.C. escrow account at Citibank, NA
• Marshall S. Schiff, Esq. will represent the Holder of Unsold Shares at sales
• No Budget prepared for the year commencing January 1, 2002; 2001 Forecast used as the Budget (Exhibit C)
• Apartment Corporation refinanced its underlying mortgage on November 16, 2000 with National Cooperative Bank for $2,000,000 at 7.98%, maturing December 1, 2010
• Financial statements for the years ending December 31, 1995 through 2000 annexed as Exhibit A

Amendment 5 Feb 10, 1992

This Fifth Amendment discloses the post-closing workout history of the 200 West 106th Street plan, offers only Peter Lekutanaj's remaining unsold shares, and updates the maintenance, budget, board, financial and New York tenant-rent law disclosures.

• Only the unsold shares held by Peter Lekutanaj are offered under this amendment
• Wrap-around mortgage reinstated in the reduced amount of $2,250,000.00 (principal reduced by $750,000.00)
• An attempt is being made to obtain Freddie Mac financing for purchasers, and a proposal has been delivered to Freddie Mac
• Current maintenance charges on the unsold shares are listed in Exhibit C
• A 12-month budget for calendar year 1992 is annexed as Exhibit D, and the most recent financial statements as Exhibit E
• Lekutanaj's aggregate rent received is $15,814.55 per month and aggregate maintenance payable is $17,164.61
• Board of Directors listed, including Peter Lekutanaj (SO) as director appointed by Lekutanaj
• General Business Law Section 352-e(2-d) rent-collection provisions disclosed (Exhibit F); no representation on whether the law is retroactive

Amendment 4 Sep 15, 1988

The amendment declares the plan effective after enough subscriptions were received, reduces the prices of apartments 3E and 7B, and sets a tentative closing date.

• Plan declared effective: subscription agreements for 25 residential apartments (22.5% of the 111 apartments in the base) received
• Price of apartment 3E reduced (printed as "580,595.00", OCR unclear)
• Price of apartment 7B reduced (printed as "$107,280.00")
• Closing tentatively scheduled for October 31, 1988
• No other material changes

Amendment 3 Sep 1, 1988

This amendment adds a certified 1987 income statement, updates the first-year budget for cooperative operation starting October 1, 1988, and revises the per-unit price schedule, with no other material changes.

• Certified income statement for the year ended December 31, 1987 added as Exhibit A
• Budget for the first year of cooperative operation, commencing October 1, 1988, updated (Schedule B)
• Schedule A per-unit purchase prices and financial details for the first year revised (Exhibit B)
• Annual maintenance charge of $18.07 per share, based on 37,065 shares, with maintenance charges of $669,706
• Commercial income of $10,000 from master lease of ground-floor stores
• There are no other material changes

Amendment 2 Mar 23, 1988

This Second Amendment adds a riser and pipe inspection report, lets Initial Purchasers sell or sublet without Board of Directors consent, and extends the tenant exclusive period to April 30, 1988 or thirty days after presentation of the amendment, whichever is later.

• Proprietary Lease paragraphs 15 and 16 conformed to let Initial Purchasers sell or sublet without Board of Directors consent
• Exclusive period for tenants extended to April 30, 1988 or thirty days after presentation of this amendment, whichever is later
• Riser and pipe inspection by J.S. Wassac, Plumbing and Heating, Inc. (Special Risk Number 4) annexed as Exhibit A
• Exhibit A: 7 sets of risers serve all apartments; 4 sets have been replaced with copper pipes; remaining lines in good condition
• No other material changes

Amendment 1 1988

This amendment corrects the share allocations for apartments 4C and 40 by attaching a revised Schedule A (Exhibit "A"), attaches a new Opinion of Reasonable Relationship from J. H. Taylor, and states that there are no other material changes.

• Shares for apartments 4C and 40 corrected, because their layout and size differ from the typical apartments on the "C" and "D" lines
• Revised Schedule A attached as Exhibit "A" showing the corrected share allocation
• New Opinion of Reasonable Relationship from J. H. Taylor attached
• No other material changes