Bayview Courtyard Condominium

Amendment 6 Sep 2, 2025

Amendment adds budgets for reduced service period (Oct 1, 2025–Sept 30, 2026) and full service year (Oct 1, 2026 onward), offers Community Facility Unit for sale, and updates tax deduction information.

• Budget for reduced service period Oct 1, 2025–Sept 30, 2026 with common charges of $1,212,128
• Budget for full service year commencing Oct 1, 2026 with common charges of $1,575,483
• Community Facility Unit now offered for sale with separate Schedule A pricing
• SALT deduction limit increased to $40,000 for tax years 2025–2029
• Mortgage interest deduction limit remains $750,000
• Mortgage insurance premiums (PMI) deductibility reinstated subject to income limitations
• Reserve fund for reduced service period set at $110,193
• Reserve fund for full service year set at $143,226

Amendment 5 2025

Amendment No. 5 updates unsold unit prices, common charges reflecting reduced and total budgets as of May 1, 2025, refinanced senior and mezzanine loans, and Board of Managers composition.

• 81 unsold residential units and 61 storage units as of May 1, 2025
• Senior loan refinanced with Cropsey Avenue Servicing LLC for $39,167,000 at 9%, maturing October 31, 2026
• Mezzanine loan outstanding balance $8,139,826 at SOFR + 4.50% with 24-month term and two 6-month extension options
• Annual real estate taxes for unsold units total approximately $504,332 as of May 1, 2025
• Sponsor commenced collection of common charges January 1, 2025
• Board members: Howard Chen (President), Johnny Zhang (Vice President), Lina Ouyang (Treasurer), Mindi Wei (Secretary)
• Reduced Service Period budget effective immediately; Total Budget anticipated to commence on or about October 1, 2025
• FinCEN Geographic Targeting Order renewed October 16, 2024, effective through April 14, 2025

Amendment 4 2025

Offering prices increased for 30 unsold residential units.

• Prices of 30 Residential Units increased effective 01/23/25
• Units 6-A through 21-F affected; prices range from $883,320 to $1,505,520
• No changes to units currently under contract

Amendment 3 Nov 12, 2024

Amendment updates post-closing status, financing refinance, unit pricing, common charges structure, and budgets.

• First unit closed June 5, 2024; Temporary Certificate of Occupancy issued September 19, 2024
• Original G4 Capital Partners mortgage refinanced October 25, 2024 with senior loan $36,000,000 and mezzanine loan $10,000,000
• Interest rate SOFR + 4.50% with 4.50% floor, 24-month term with two 6-month extension options
• 101 untitled Residential Units and 61 Storage Space Units remain unsold as of October 14, 2024
• Common charges collection to commence January 1, 2025 under Reduced Service Period budget
• Working capital held $51,460.00; reserve fund account holds $52,515.00 as of September 30, 2024
• Cropsey Avenue Servicing LLC and Cropsey Avenue Mezz Servicing LLC added to Institutional Lender definition
• Offering plan extended for six months from amendment filing date

Amendment 2 Mar 18, 2024

Selling agent changed to Bayview Marketing Group LLC, condominium documents revised for mortgage lender requirements, and offering prices revised for 47 units.

• Selling agent: Bayview Marketing Group LLC, 2059 86th Street, Suite 300, Brooklyn, NY 11214
• Declaration of Condominium Article Twenty-Third final paragraph revised
• Condominium By-Laws Article XVI, Section 4 revised regarding unpaid Common Charges reporting
• Revised offering prices for 47 units listed in Exhibit A (range $572,400 to $1,140,300)
• Revised prices do not apply to units currently under contract
• Revised prices apply to subsequent sales if units under contract become available

Amendment 1 2024

Plan declared effective with 30 of 151 units sold; sponsor address changed; offering plan extended for six months.

• Plan declared effective December 22, 2023
• 30 of 151 units sold (approximately 20%)
• Sponsor address changed to 131-11 Fowler Avenue, 1D, Flushing, New York 11355
• Offering plan valid for six months from amendment filing date