310 East 86th Street Condominium (The Harper)

Amendment 9 May 1, 2025

Unit 3A offering price revised to $2,200,000.

Amendment 8 Apr 1, 2025

Amendment updates Schedule A with current unit prices and charges as of April 1, 2025, and modifies sponsor control period to end at 80% residential sales or 5 years from first closing.

• Schedule A updated with 33 unsold residential units, 3 commercial units, 19 storage units as of April 1, 2025
• Sponsor control of residential board ends at whichever comes first: 80% of residential units sold or 5 years from first closing
• Board of Managers commenced collecting common charges on April 1, 2025
• Annual real estate taxes for unsold units total approximately $953,421.32 as of March 31, 2025
• Unclosed units subject to Valley National Bank mortgage: $33,726,603 principal at 8.188% interest, maturity August 30, 2025
• Temporary Certificate of Occupancy renewed April 22, 2025; Permanent Certificate estimated cost $10,000
• Condominium meets Local Law 97 emission standards for 2025 and 2030 thresholds with no anticipated carbon penalty through 2030
• Offering plan extended for 12 months from amendment filing date

Amendment 7 Jan 21, 2025

Unit PHB offering price revised to $7,400,000 and Ron Izaki removed as a principal of Sponsor.

• Unit PHB offering price revised to $7,400,000
• Ron Izaki no longer a principal of Sponsor

Amendment 6 Oct 9, 2024

Storage Space Floor Plan corrected to match the property description addendum.

Amendment 4 2023

Plan declared effective with 10 units (15%) sold; first closing set for January 15, 2024; first-year budget and Schedule A prices provided.

• Plan declared effective November 28, 2023 with 10 of 66 units under contract (15%)
• First closing anticipated January 15, 2024
• First-year budget effective January 15, 2024: $1,298,121 income and expenses
• Sponsor to pay monthly common charges for unsold units after first closing
• Offering plan valid for six (6) months from amendment filing date
• Schedule A updated with current offering prices and common charges

Amendment 3 May 31, 2023

Revised offering prices for all residential units in the condominium.

• All unit prices updated in revised Schedule A
• Prices do not affect units currently under contract
• Amendment No. 2 (dated pending) previously submitted May 8, 2023 still pending Department of Law acceptance
• Schedule A prices increased for 7 homes (median +2.3%): 4C $2,150,000 → $2,200,000; 5C $2,175,000 → $2,225,000; 6C $2,200,000 → $2,250,000; 7C $2,225,000 → $2,275,000; ...
• Schedule A prices decreased for 1 home (median -4.3%): 20C $4,700,000 → $4,500,000

Amendment 2 May 8, 2023

Amendment updates marketing name to 'The Harper', sets first closing for October 1, 2023, adjusts deposit requirement to 10% of purchase price, changes closing attorney and escrow bank, and clarifies superintendent's unit acquisition fee.

• Building marketed as 'The Harper' (official name remains 310 East 86th Street Condominium)
• First closing anticipated October 1, 2023
• Fitness room, spa, and amenity terraces expected operational by June 2024
• Deposit requirement changed to 10% of purchase price plus cost of extras
• Closing attorney and escrow agent changed to D'Agostino, Lederman, Landesman, Rivera and Miraglia, LLP
• Escrow account moved to Valley National Bank at Penn I, 1 Pennsylvania Plaza
• Superintendent's Unit (201) acquisition fee of $2,050,000 to be paid pro-rata by purchasers (example: 1.61% common interest = approximately $34,204)
• Structural repairs to balconies, terraces, and limited common elements become condominium responsibility unless caused by unit owner

Amendment 1 Jun 28, 2022

Amendment consolidates residential units, updates floor plans pending DOB approval, revises pricing and tax estimates, changes escrow agent, and updates mortgage and governance documents.

• Consolidated C and D units on floors 10, 11, 12, 14, 15 into single C unit; total now 63 residential units and 3 commercial units
• Multiple floor plan revisions pending DOB approval, anticipated completion by December 1, 2022
• Schedule A updated with current offering prices, common charges, and estimated real estate taxes
• Escrow agent changed to D'Agostino, Levine, Landesman, Lederman & Rivera, LLP
• First closing anticipated on or about October 1, 2023
• Effectiveness requirements revised: 10 units minimum for effectiveness, 53 units for mandatory effectiveness
• Mortgage of $130,000,000 from Valley National Bank closed August 31, 2021; maturity August 31, 2024 plus 1 year extension