225 East 47th Street

Amendment 35 Jul 8, 2024

This amendment discloses that Turtle Bay Apartments, LLC holds two unsold apartments (4E and 4F) with their current asking prices, attaches the cooperative's 2022 and 2023 audited financials and 2024 budget, and reports a remaining Local Law 11 and boiler assessment.

• Turtle Bay Apartments, LLC is offering unsold apartments 4E ($575,000.00) and 4F ($775,000.00), totaling $1,350,000.00
• Aggregate monthly Maintenance Charges for these units are $2,574.00 as of June 21, 2024
• Remaining Local Law 11 and boiler assessment for these units is $1,148.40 as of June 21, 2024
• Audited financial statements for 2022 and 2023 and the 2024 Budget are attached as Exhibits B and C
• Turtle Bay Apartments, LLC is not affiliated with Tremada 225 East 47 LLC, which filed the 34th Amendment
• No other material changes to the Plan

Amendment 34 Jan 3, 2024

Tremada 225 East 47 LLC, as new holder, offers five unsold units for sale and discloses a new building assessment for boiler and facade work, the unsold units' carrying charges, updated financial information, and a 12-month extension of the Plan's term.

• Five unsold units offered for sale by Tremada 225 East 47 LLC: 3B, 3F, 3G, 3K and 6B (Exhibit A)
• One-time $28/share assessment imposed in September 2023 for boiler replacement and Local Law 11 facade work, with about half the approximately $800,000 cost covered
• Concurrent monthly assessment of $2.32 per share for 12 months for the remaining $400,000
• Aggregate monthly assessment on unsold units: $2,887.52 as of November 1, 2023
• Aggregate monthly maintenance on unsold units: $6,180.00 as of November 1, 2023
• Plan effective period extended 12 months from the filing of this Amendment
• Apartment Corporation 2022 and 2021 financial statements and 2023 budget attached; no guaranty of projected expenses
• Updated FinCEN Geographic Target Order disclosure, effective October 22, 2023, covering personal identity reporting for certain purchasers

Amendment 33 Jun 22, 2023

Turtle Bay Apartments, LLC, a holder of unsold shares, discloses the finances and prices of its two unsold apartments, attaches the apartment corporation's 2021 and 2022 audited statements and the 2023 budget, and states it is not affiliated with Tremada 225 East 47 LLC.

• Discloses 495 unsold shares for apartments 4E ($575,000.00) and 4F ($775,000.00), total $1,350,000.00
• Aggregate monthly Maintenance Charges for these shares: $2,475.00 as of June 20, 2023
• Aggregate monthly tenant rent received: approximately $5,400.00
• Apartments are not subject to mortgages, financing commitments, or pledges as collateral
• Audited financial statements for years ending December 31, 2021 and December 31, 2022 attached as Exhibit B
• 2023 Budget attached as Exhibit C
• Turtle Bay states it is current on all Plan obligations for the past twelve months
• Not affiliated with Tremada 225 East 47 LLC, whose 32nd Amendment is not yet accepted by the Department of Law; no representations made about those apartments

Amendment 32 Dec 12, 2022

Tremada 225 East 47 LLC offers six of its unsold units for sale at the prices in Exhibit A, reports a change in its principals, extends the Plan's filing period by twelve months, and updates the financial statements, budget and board list.

• Six unsold units offered for sale: 2F $1,057,500.00; 3B $1,020,000.00; 3F $1,057,500.00; 30 $750,000.00; 3K $780,000.00; 6B $1,020,000.00
• Price, downpayment, financing contingencies and other terms may be negotiated with each buyer
• Harrison Douglas became a principal of New Holder; David Landes, Timothy Nelson, Mark Pears and Trevor Pears relinquished their roles
• Plan effective period extended 12 months from filing of this Amendment
• Apartment Corporation financial statements for 2021 and 2020 attached as Exhibit C; 2022 budget attached as Exhibit D
• Current Board members: Andy Roz, Kirnon Psihudakis and David PenchofT
• As of October 1, 2022: unsold units' monthly maintenance $7,087.60; monthly base rent received $10,771.66; none vacant

Amendment 31 May 20, 2022

Turtle Bay Apartments, LLC raises the asking prices of its two unsold apartments (4E and 4F), discloses their rent and maintenance, attaches the 2021 financial statements and 2022 budget, and explains that the New York State transfer tax is no longer grossed up for certain purchases.

• Price of Apartment 4E raised from $525,000 to $575,000.00
• Price of Apartment 4F raised from $725,000 to $775,000.00
• Apartments 4E and 4F are currently rented, at $2,300.00 and $2,800.00 respectively
• Aggregate monthly Maintenance Charges for the two unsold apartments are $2,326.50
• Audited financial statements for the year ending December 31, 2021 attached as Exhibit B
• 2022 Budget attached as Exhibit C
• NY State transfer tax no longer grossed up for purchase agreements signed after April 1, 2021 or closings after July 1, 2021; NYC transfer taxes are still grossed up

Amendment 30 Aug 26, 2021

Tremada 225 East 47 LLC offers seven unsold units for sale at listed prices, updates the transfer-tax terms, adds a FinCEN reporting disclosure, and extends the plan's filing period by 12 months.

• Seven unsold units offered: 2F $1,057,500.00; 3B $1,020,000.00; 3F $1,057,500.00; 3G $750,000.00; 3K $780,000.00; 5A $1,080,000.00; 6B $1,020,000.00
• Tremada may negotiate price, down payment, financing contingencies, renovations or credits, and deadlines individually with each buyer
• Effective July 1, 2021, the NYS transfer tax gross-up is removed; buyers of unsold units must still gross up for NYC RPTT (updated Contract of Sale, Exhibit E)
• Adds FinCEN disclosure for residential closings from May 5, 2021 to October 31, 2021
• Plan filing period extended 12 months from the filing of this amendment
• As of July 1, 2021: monthly maintenance on unsold units $8,193.51; monthly base rent received $10,467.80; one unit vacant
• Unsold shares are not pledged and not subject to any loan or financing commitment
• 2019 and 2020 financial statements (Exhibit C) and 2021 budget (Exhibit D) attached; Board officers listed

Amendment 29 2021

The amendment discloses the financial status of Turtle Bay Apartments, LLC, a holder of unsold shares for Apartments 4E and 4F, lists their asking prices, rents and maintenance charges, and attaches the 2019 and 2020 audited financial statements and the 2021 budget.

• Turtle Bay Apartments, LLC disclosed as holder of the 495 unsold shares for Apartments 4E and 4F
• Price of Apartment 4E set at $525,000.00 and Apartment 4F at $725,000.00, total $1,250,000.00
• Aggregate monthly Maintenance Charges for the two units: $2,212.65
• Apartments 4E and 4F are currently rented at $2,300.00 and $2,750.00 respectively
• Neither unit is subject to mortgages, financing commitments or pledges as collateral
• Audited financial statements for the years ended December 31, 2019 and December 31, 2020 attached as Exhibit B
• 2021 Budget attached as Exhibit C
• Current Board of Directors of the Apartment Corporation listed

Amendment 28 Aug 24, 2020

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

Amendment 27 2020

This amendment discloses that Turtle Bay Apartments, LLC holds unsold apartments 4E and 4F at 225 East 47th Street, lists their prices and maintenance charges, and attaches the 2018 and 2019 audited financial statements and the 2020 budget.

• Turtle Bay Apartments, LLC disclosed as holder of unsold apartments 4E and 4F (495 shares)
• Price of 4E is $525,000.00 and price of 4F is $725,000.00, total $1,250,000.00
• Monthly maintenance charges: 4E $862.71, 4F $1,349.94, total $2,212.65
• Units 4E and 4F are not currently rented
• Units 4E and 4F are not subject to mortgages, financing commitments, or pledges as collateral
• Audited financial statements for years ended December 31, 2018 and December 31, 2019 attached as Exhibit B
• 2020 Budget attached as Exhibit C
• Current Board of Directors listed: Andy Roz (President), Alisa Kaye (Vice President), Chuck Bartelt (Secretary), David Penchoff (Treasurer)

Amendment 26 2019

This amendment discloses that Turtle Bay Apartments, LLC holds 495 unsold shares for Apartments 4E and 4F, prices them, and attaches the 2017-2018 audited financial statements and the 2019 budget.

• Turtle Bay Apartments, LLC is a Holder of Unsold Shares for Apartments 4E and 4F (495 shares), not affiliated with Tremada 225 East 47 LLC
• Asking prices: Apartment 4E $525,000.00; Apartment 4F $725,000.00; total $1,250,000.00
• Aggregate current monthly Maintenance Charges for these apartments: $1,984.95
• Aggregate monthly rent received from tenants: approximately $5,750.00; tenants are not protected by Rent Control, Rent Stabilization, or the General Business Law
• None of these apartments are subject to mortgages or financing commitments, or pledged as collateral
• Audited Financial Statements for the years ended December 31, 2017 and December 31, 2018 attached as Exhibit B
• 2019 Budget attached as Exhibit C

Amendment 25 Mar 21, 2019

The OCR text is unreadable symbol noise with no legible words, so no changes to the plan can be identified.

Amendment 24 Aug 23, 2018

This 2018 amendment updates the sponsor's and Turtle Bay Apartments' unsold-unit disclosures and prices, adds 2016 and 2017 financial statements and the 2018 budget, and adds a building smoking policy and a notice on 2018 federal tax law changes.

• Sponsor's 2,700 unsold shares in nine units disclosed, with prices listed in Exhibit A
• Turtle Bay Apartments' two unsold units (4E and 4F) priced at $525,000.00 and $725,000.00
• Sponsor's aggregate monthly Maintenance Charges on unsold shares stated as $8,745.81
• Turtle Bay's aggregate monthly Maintenance Charges on its unsold shares stated as $1,984.95
• Smoking banned in lobby, halls, stairways and other public areas; smoking permitted within apartments
• Audited 2016 and 2017 financial statements added as Exhibit C; 2018 Budget added as Exhibit D
• Notice added that Tax Cuts and Jobs Act changes affect deductions; buyers should consult a tax expert

Amendment 19 Oct 27, 2014

This amendment updates the sponsor's unsold units and their holders, designates Turtle Bay Apartments, LLC and GA 47 St Realty LLC as holders of unsold shares, and begins a revised escrow trust section.

• Sponsor holds 2,700 unsold shares allocated to 11 unsold apartments, with prices listed in Exhibit "1"
• ECS Apartments, LLC transferred units 4E and 4F to Turtle Bay Apartments, LLC ("TBA")
• GA 47 St Realty LLC designated as Holder of Unsold Shares for apartments 2B and 4H (443 shares)
• Sponsor guarantees Maintenance Charges and assessments for units held by TBA and GA 47 St Realty LLC
• GA 47 St Realty LLC may sublet and sell its unsold shares without Board or shareholder approval or fees
• Form M-10 registrations disclosed for Alvin Schein, Alexander Garvin and Lawrence Ackman
• Revised escrow trust (section 6); the text ends before its details

Amendment 17 Jun 5, 2012

Sponsor Dash Associates and new Holder of Unsold Shares ECS Apartments, LLC update the plan: ECS takes over two unsold apartments (4E and 4F), and the Sponsor's remaining unsold units, sponsor-related management, the Maintenance Charge rate and the 2012 budget are disclosed.

• ECS Apartments, LLC designated Holder of Unsold Shares for apartments 4E ($419,000.00) and 4F ($539,000.00), with 495 shares total
• Sponsor's 13 remaining unsold apartments listed with prices totaling $6,512,000.00
• Sponsor's unsold shares total 3,143, with aggregate monthly Maintenance Charges of $12,603.43
• ECS Apartments, LLC unsold units carry aggregate monthly Maintenance Charges of $1,984.95
• Maintenance Charges payable by tenant-shareholders set at $4.01 per share per month
• Apartment Corporation audited financial statements for January 1, 2010 to December 31, 2011 attached as Exhibit 4, and 2012 Budget attached as Exhibit 5
• Unsold units managed by Ogtagon Corporation, which is related to Sponsor
• Seiden & Schein, P.C. named as counsel and escrow agent for ECS Apartments, LLC's unsold units

Amendment 16 May 31, 2011

The amendment discloses the sponsor's 16 unsold apartments and their asking prices, sets the current Maintenance Charges at $4.01 per share per month, and attaches the apartment corporation's 2009–2010 audited financial statements and the 2011 budget.

• Sponsor owns 16 unsold apartments (3,933 shares), offered at prices in Exhibit A totaling $8,069,000.00
• Maintenance Charges payable by tenant-shareholders are $4.01 per share per month
• Some unsold units are occupied by rent-controlled or rent-stabilized tenants; others by Sponsor's sub-tenants, whose leases Sponsor may choose not to renew
• Unsold units are not subject to mortgages or financing commitments and are not pledged as collateral
• Unsold units are managed by Ogtagon Corporation, which is related to Sponsor
• Audited financial statements for January 1, 2009 to December 31, 2010 attached as Exhibit B
• 2011 Budget attached as Exhibit C
• Sponsor's aggregate monthly rents from unsold units are $21,490.68 against monthly Maintenance Charges of $15,771.33; apartment 4F is vacant

Amendment 15 May 20, 2010

The amendment offers unsold apartments to existing tenants, then to the public, at a 30% discount; it also raises prices on certain units, attaches the building's 2008-2009 audited financials, and updates the sponsor's financial disclosures and maintenance charges.

• Tenants in occupancy of listed unsold units may buy at 30% below the Exhibit A price during a 60-day Tenant's Purchase Period
• After that, any person may buy listed units at the discounted price during a further 60-day Additional Purchase Period
• Purchase Agreement and a deposit of 10% of the Discounted Selling Price must be delivered to Sponsor's attorneys within the applicable period
• Purchase prices of certain units increased, as set forth in the Amended Exhibit A
• Sponsor owns 5,044 Unsold Shares in 21 apartments; none are subject to mortgages or pledged as collateral
• Current monthly Maintenance Charges on unsold shares are $20,226.44; monthly rents received are $30,650.96
• Apartment Corporation's audited financial statements for January 1, 2008 to December 31, 2009 attached as Exhibit B
• Maintenance Charges currently payable by Tenant-Shareholders are $4.01 per share per month

Amendment 14 Mar 17, 2004

The amendment updates the financial disclosure for the 22 apartments whose unsold shares the sponsor still owns, including their prices, maintenance and rent figures, escrow arrangements, and a new General Business Law disclosure.

• Sponsor owns 5,294 Unsold Shares (36.8% of outstanding shares) allocated to 22 apartments, priced at $1776 per share in the cash purchase price table (Exhibit "A")
• Sponsor's current aggregate monthly Maintenance Charges on the unsold shares are $16,146.70, against approximately $25,682.48 in monthly rent from tenants
• No unsold shares are subject to mortgages, financing commitments, or pledges as collateral
• Maintenance Charges payable by tenant-shareholders are $3.05 per share per month
• Financial statements as of December 1, 2003 and December 1, 2002, and a 2004 budget are attached (Exhibits "B-1", "B-2", "B-3")
• Seiden & Schein, P.C. is sponsor's attorney and escrow agent; purchaser deposits go into an interest-bearing attorney escrow account at Citibank, N.A., earning about 1% per annum
• Adds disclosure of General Business Law Section 352-1: if a non-occupying owner's rent goes unpaid for Maintenance Charges, the tenant's rent may be paid directly to the Apartment Corporation
• Discloses that sponsor principals also control the sponsor entity owning more than ten percent of shares in 333 East 46th Street; sponsor relinquished board control in 1987, and two of five directors are affiliated with the sponsor