301 East 81st Street Condominium (Beckford House)

Amendment 11 Mar 3, 2021

Prices updated for 5 units, first closing held October 14, 2020 with 9 units conveyed and 23 unsold, temporary certificate of occupancy issued February 10, 2021.

• Prices raised for units 6B ($3,150,000), 15 ($11,300,000), 16 ($11,550,000), PH18 ($9,500,000), PH20 ($16,995,000)
• First Unit Closing held October 14, 2020; 9 units conveyed to purchasers as of March 3, 2021
• 23 unsold units remain, 15 subject to executed purchase agreements
• Temporary Certificate of Occupancy issued February 10, 2021; estimated cost for permanent occupancy approximately $10,000.00
• Working Capital Fund approximately $41,554.48; Reserve Fund approximately $8,250.11 as of March 3, 2021
• Sponsor waiving Common Charges collection from Unit Owners and paying actual operating expenses
• Purchase Agreement amended to permit remote closings, virtual inspections, and electronic notice delivery
• Condominium Declaration recorded April 3, 2020; Floor Plans recorded April 3, 2020
• Schedule A prices increased for 1 home (median +8.6%): 6B $2,900,000 → $3,150,000
• Schedule A prices decreased for 2 homes (median -5.0%): PH18 $10,000,000 → $9,500,000; PH20 $20,000,000 → $16,995,000

Amendment 10 Aug 5, 2020

Offering prices changed for 8 residential units.

• Unit 15: $10,975,000
• Unit 8A: $4,950,000
• Unit 9B: $4,750,000
• Unit 12B: $3,900,000
• Unit 4A: $3,350,000
• Unit 3B: $2,925,000
• Unit 5B: $2,975,000
• Unit 5C: $2,775,000
• Schedule A prices decreased for 7 homes (median -5.3%): 3B $3,175,000 → $2,925,000; 4A $3,500,000 → $3,350,000; 5B $3,325,000 → $2,975,000; 5C $2,900,000 → $2,775,000; ...

Amendment 9 Jun 19, 2020

Corrects the building's zip code, updates the first-year budget, adds mortgage tax credit language to the purchase agreement, and includes floor plans for three units.

• Zip code corrected from 10075 to 10028
• Schedule B first-year budget (May 1, 2020 – April 30, 2021) total projected income and expenses: $1,256,193
• Purchase agreement paragraph 9 amended to address mortgage recording tax credit benefits to Sponsor
• New subsection 9(b) added requiring purchaser to cooperate on partial assignment of Sponsor's mortgage if requested
• Floor plans added for units 7A, 8A, and 9A

Amendment 8 Jan 6, 2020

Plan declared effective after five units sold, representing 15.625% of thirty-two residential units.

• Plan declared effective based on five purchase agreements executed
• Five units sold represent 15.625% of thirty-two residential units offered

Amendment 7 Jan 9, 2020

Offering prices of certain unsold residential units are amended.

• Schedule A prices increased for 1 home (median +2.7%): 4B $2,800,000 → $2,875,000
• Schedule A prices decreased for 1 home (median -7.4%): 11B $4,050,000 → $3,750,000

Amendment 6 Dec 16, 2019

Prices of three residential units are increased.

• Unit 4B price raised to $2,800,000
• Unit 8B price raised to $4,395,000
• Unit 10A price raised to $5,850,000
• Price changes do not affect existing Purchase Agreements
• Schedule A prices decreased for 3 homes (median -8.9%): 4B $3,250,000 → $2,800,000; 8B $4,825,000 → $4,395,000; 10A $5,975,000 → $5,850,000

Amendment 5 Nov 25, 2019

Allied Partners becomes the new managing agent for the building.

• Managing agent changed to Allied Partners at 770 Lexington Avenue, New York
• Revised Description of Property and Specifications (Exhibit A)
• Amended Floor Plans with narrative of changes (Exhibit B)
• Architect certification attached (Exhibit C)

Amendment 4 Nov 14, 2019

Price of unit 4B raised to $2,800,000.

Amendment 3 Oct 8, 2019

Amendment changes offering prices for certain unsold residential units as shown in the revised Schedule A.

• Offering prices amended for unsold residential units per attached Schedule A
• Price changes do not affect existing Purchase Agreements as of amendment date
• Second Amendment to Plan (submitted September 16, 2019) had not been accepted for filing as of this amendment
• Schedule A prices increased for 1 home (median +9.5%): 3B $2,900,000 → $3,175,000
• Schedule A prices decreased for 8 homes (median -10.1%): 3A $3,425,000 → $3,150,000; 3C $2,650,000 → $2,495,000; 6B $3,475,000 → $2,900,000; 7A $4,975,000 → $4,475,000; ...

Amendment 2 Sep 16, 2019

Updated real estate tax projections, common charges, utility projections, transfer tax rates, smoking policy, and amenity fees.

• Schedule A updated with new real estate tax projection, common charges, and First Year of Condominium Operation
• Schedule B and budget certifications updated
• Schedule B-1 utility projections updated for building and individual units
• New York State Transfer Tax and Mansion Tax rates effective July 1, 2019 for contracts executed after April 1, 2019
• Mansion Tax rates range from 1% ($1,000,000+) to 3.9% ($25,000,000+)
• Smoking prohibited in Common Elements except Residential Limited Common Elements (terraces) and within 15 feet of building entrances
• Sponsor's Budget Expert address changed to 250 East 87th Street, Ste. 28G, New York, NY 10128
• Residents permitted to access amenities at 301 East 80th Street Condominium (Beckford Tower) for a fee
• Schedule A prices increased for 5 homes (median +3.9%): 8A $5,075,000 → $5,225,000; 9A $5,225,000 → $5,375,000; PH15 $11,300,000 → $11,750,000; PH16 $11,550,000 → $12,000,000; ...
• Schedule A prices decreased for 20 homes (median -2.0%): 3B $3,225,000 → $2,900,000; 3C $2,950,000 → $2,650,000; 4B $3,300,000 → $3,250,000; 4C $3,000,000 → $2,850,000; ...

Amendment 1 Jul 17, 2019

Offering prices for unsold residential units are amended.

• Offering prices updated for all unsold units on amended Schedule A
• Price changes do not affect existing Purchase Agreements
• Common charges and real estate taxes projected for May 1, 2020 – April 30, 2021