223-225 East 50th Street

Amendment 17 Jun 20, 2013

The amendment reports that Sponsor's general partner died in July of 2012, names Nicholas Athas as successor principal, lists unsold apartments and their prices, updates the escrow arrangements with Racht & Taffae, LLP, and lists the Apartment Corporation's current officers and directors.

• Nicholas Athas named as new general partner of Sponsor after Irma Schubert became incapacitated in April 2012 and died in July of 2012
• New sales suspended from that period until this amendment; one apartment under contract will close once the plan is reinstated
• Unsold share offering prices: 2A at $550,000.00 (vacant, maintenance $901.04) and 6C at $271,700.00 (maintenance $713.33)
• Escrow rules revised: Attorney General no longer adjudicates deposit disputes; new rider (Exhibit D) applies to purchasers without a fully executed Contract
• Racht & Taffae, LLP named as Sponsor's counsel and Escrow Agent, with deposits payable to "Racht & Taffae, LLP, as attorneys"
• Sponsor's maintenance obligations of $1,614.37 per month for the next twelve months, offset by rent from 6C of approximately $722.58 per month and reserves
• Certified income and expense statements for 2010, 2011 and 2012, and the 2013 budget, annexed as Exhibits B and C
• Apartment Corporation officers and directors listed; Sponsor has sold more than 75% of shares

Amendment 16 2011

This sixteenth amendment updates the board of directors and officers, lists the sponsor's remaining unsold shares and their prices, attaches the 2009 financial statement and 2011 budget, and extends the plan for twelve months.

• Sponsor has sold more than 75% of shares and relinquished control of the Board of Directors; current officers and directors listed
• Unsold Apt. 2A (vacant) offered at $550,000.00, including a price increase
• Unsold Apt. 6C offered at $271,700.00
• Unsold Apt. 6D (vacant) offered at $600,750.00
• Sponsor's maintenance obligations to the corporation are $2,394.12 per month over the next twelve months
• Certified income and expense statement for year ending December 31, 2009 attached as Exhibit A
• Budget for 2011 attached as Exhibit B
• Plan and offering extended for twelve months from the date of this amendment

Amendment 15 Sep 30, 2009

The amendment sets current prices for the sponsor's unsold shares, reports that the sponsor has relinquished board control, updates the sponsor's financial obligations and escrow arrangements, and extends the plan for twelve months.

• Current price of occupied unsold shares is $1100.00 per share; unit 6D, which is vacant, was previously set at $2225.00 per share
• Sponsor has sold more than seventy-five (75%) percent of the shares and has relinquished control of the Board of Directors
• Sponsor's maintenance obligations on unsold shares are $2,258.60 per month, with an anticipated assessment of approximately $3.7798 per share (Sponsor's share approximately $3,133.45), not yet finalized
• Sponsor expects to cover those costs from rent of approximately $1,374.55 per month plus net sale proceeds
• Certified income and expense statements for the years ending December 31, 2007 and December 31, 2008 are attached as Exhibit A
• Cooperative's projected budget for calendar year 2009 is attached as Exhibit B
• Racht & Taffae, LLP acts as counsel and escrow agent; purchasers must submit form W-9 or W-8, and funds may go to a non-interest-bearing IOLA account until then
• The Plan and Offering are extended for twelve months from the date of this amendment

Amendment 14 November 2007

The sponsor has sold more than 75% of the shares and given up board control, and the amendment updates the unsold share prices, the sponsor's maintenance obligations, the officers and directors list, and the financial statements.

• Sponsor has sold more than seventy-five (75%) percent of the shares and relinquished control of the Board of Directors
• Current price per unsold share is $1100.00, except unit 6D, increased to $2225.00 per share
• Financial statements annexed as Exhibit A cover the years ending December 31, 2003 through December 31, 2006
• No written budget provided for 2007
• Sponsor's maintenance obligation is $2,258.60 per share per month, to be paid from tenant rents of $1,177.66 per month and net proceeds of unsold share sales
• Unsold shares listed: unit 2A (312 shares, $850.04 monthly maintenance), unit 6C (247 shares, $672.95), unit 6D (270 shares, $735.61, vacant)
• Officers and directors updated: Michael Camerini (President & Director), Marianne Pistilli (Secretary & Director), Matt James (Treasurer and Director), Brian Galik (Director), Irma Schubert* (Director)
• Purchasers of unsold shares must sign a contract of sale substantially in the form of Exhibit D to the Ninth Amendment

Amendment 13 Sep 9, 2003

The sponsor has relinquished board control and sold over 75% of shares, and the amendment updates the board list, unsold-share maintenance, the mortgage, escrow account, and roof-rights deadline.

• Sponsor has sold more than 75% of shares and relinquished control of the Board; new officers and directors listed
• Unsold shares 2A, 6A (vacant), 6C and 6D listed, with sponsor maintenance totaling $2,748.06 per month
• Sponsor maintenance obligation stated as $2.3588 per share per month
• Mortgage refinanced May 13, 2002 with Emigrant Savings Bank: $700,000.00 loan at 7.4%, maturity June 1, 2012
• Down payments moved to the Sonja Talesnik Attorney Trust Account-IOLA at Citibank, N.A., placed within five business days after the agreement is signed
• Developer's deadline to give notice of intent to build Roof Apartments extended from fifteen to twenty years after closing, to December 23, 2006
• Certified income and expense statements for the years ending December 31, 2001 and December 31, 2002 attached as Exhibit A; no written budget provided for 2003

Amendment 12 Apr 3, 2002

This twelfth amendment updates the apartment corporation's officers and directors, attaches the 2000 financial statements and unsold-shares list, and states the sponsor's maintenance obligations for unsold units over the next twelve months.

• Officers and directors listed: Michael Camerini (President), Lisa O'Reilly (Vice President and Secretary), Kerry Colley (Treasurer), Irma Schubert (Director, affiliated with the Sponsor)
• Sponsor's maintenance obligations on unsold units stated as $3,314.19 per month, to be paid from $1,208.78 per month in tenant rents and net sale proceeds of Unsold Shares, with any shortfall paid from Sponsor's other assets
• Income and expense statement for the year ending December 31, 2000 annexed as Exhibit A; there is no budget for 2002
• List of Unsold Shares held by the Sponsor annexed as Exhibit B; the shares are not pledged as security for a loan
• Sponsor states it is current on all financial obligations under the Plan
• Irma Schubert's other property with more than 10% ownership: 110-15 71st Road, Forest Hills, New York
• Sponsor is not in control of the Board of Directors and was required to relinquish control no later than December 22 (year cut off in OCR text)