310 West 52nd St. Condominium (The Link)

Amendment 28 March 2017

32 storage units remain unsold with updated pricing, financial statements, and budget information included.

• All residential units sold; 32 storage units unsold
• Storage unit prices range from $22,500.00 to $48,750.00
• Monthly common charges for unsold storage units total $1,446.31
• Financial statements for years ended December 31, 2014 and 2015 attached
• Projected budget for year commencing January 1, 2017 attached
• Offering plan effective period extended for 12 months from amendment date
• No unsold storage units currently rented
• Board of Managers controlled by unit owners

Amendment 27 May 6, 2016

Amendment updates unsold storage unit prices, common charges, and financial information as of the amendment date.

• 32 storage units remain unsold; all residential units sold
• Unsold storage unit prices range from $22,500.00 to $48,750.00
• Monthly common charges for all unsold storage units total $1,400.36
• 2015/2016 monthly real estate taxes for unsold units total $687.58
• Financial statements for year ended December 31, 2014 attached
• Projected budget for year commencing January 1, 2016 attached
• Offering plan effective period extended for 12 months from amendment date

Amendment 26 May 23, 2015

All residential units are now sold; 34 storage units remain unsold with updated pricing and common charges.

• All residential units sold as of amendment date
• 34 storage units remain unsold (SU22, SU23, SU59, SU60, SU63, SU64, SU67, SU69, SU75, SU78, SU80, SU81, SU82, SU102, SU111, SU112, SU125, SU126, SU128, SU132, SU163, SU164, SU166, SU173, SU176, SU183, SU186, SU191, SU195, SU203, SU204, SU206, SU207, SU208)
• Storage unit prices range from $22,500.00 to $57,000.00
• Aggregate monthly common charges for unsold units: $1,482.51
• 2014/2015 annual real estate taxes included for all units
• Financial statements for year ended December 31, 2013 attached
• Projected budget for 2015 attached
• Offering plan effective period extended 12 months

Amendment 25 May 15, 2014

All residential units sold; 34 storage units remain unsold with updated pricing and common charges; financial statements and 2014 budget attached.

• All residential units sold; 34 storage units unsold
• Storage unit prices range from $22,500 to $57,000
• Monthly common charges for unsold storage units total $1,432.09
• 2013/2014 annual Fannie Mae assessment total $143.82
• Financial statements for year ended December 31, 2012 attached
• Projected budget for year commencing January 1, 2014 attached
• Offering plan effective period extended 12 months from amendment date

Amendment 24 Feb 19, 2013

Escrow agent and down payment procedures updated due to revised state regulations on deposit handling.

• Escrow agent changed to D'Agostino, Levine, Landesman & Lederman, LLP at 345 Seventh Avenue, 23rd Floor, New York, NY 10001
• Escrow account held at HSBC Bank USA, 452 Fifth Ave Lower Level, New York, NY
• Down payment structure: 10% initial down payment plus 5% additional down payment within 60 days
• FDIC insurance covers maximum $250,000.00 per deposit; amounts exceeding this are not insured
• Interest rate for escrow deposits approximately 0.20% as of March 18, 2013
• Escrow Agent signatories: John D'Agostino, Esq., Michael J. Levine, Esq., and Wayne R. Landesman, Esq.
• Purchaser may cancel if not notified of deposit within 15 business days of Purchase Agreement execution

Amendment 23 Feb 10, 2012

Thirty-three storage units remain unsold with updated pricing and common charges; all residential units have been sold.

• All residential units sold; 33 storage units remain unsold
• Storage unit prices range from $22,500 to $57,000
• Monthly common charges for unsold storage units total $1,301.05
• Fannie Mae Assessment implemented; 2011/2012 annual assessment $2,688.70
• 2011/2012 estimated annual real estate taxes $224.06 per month
• Sponsor changed: Orly Daniell now President and Manager of El-Ad 52 LLC
• New sponsor office address: 575 Madison Avenue, 22nd Floor, New York, NY 10022
• Offering plan effective period extended twelve months

Amendment 22 2010

All residential units sold; 31 storage units remain unsold with pricing and charges listed; financial statements and budget provided.

• All residential units now sold
• 31 storage units remain unsold with prices ranging from $22,500 to $57,000
• Monthly common charges for unsold storage units total $365.00; estimated annual real estate taxes $30.44
• Financial statements for year ended December 31, 2009 included
• Projected budget for year commencing January 1, 2010 included
• Offering plan effective period extended 12 months from amendment date
• Board of Managers now controlled by unit owners (not sponsor)

Amendment 21 September 2009

Amendment updates unsold unit inventory, pricing, and common charges as of September 2009, and extends the offering plan period.

• Two residential units remain unsold: TH1 and TH2, each priced at $3,925,000.00
• Thirty-eight storage units remain unsold
• Monthly common charges for TH1 are $1,917.15; for TH2 are $1,882.70
• 2009/2010 estimated annual real estate taxes for TH1 are $791.64; for TH2 are $777.24
• Aggregate monthly common charges for all sponsor-owned units are $5,123.52
• Board of Managers commenced Supreme Court action against Sponsor on April 23, 2008 for unpaid common charges
• Board is now controlled by unit owners, with three sponsor representatives
• Offering plan period extended for twelve months from amendment date

Amendment 20 Sep 19, 2008

Amendment updates unsold unit inventory, pricing, common charges, and tax estimates as of the amendment date.

• 3 residential units unsold (TH1, TH2, 18J); 35 storage units unsold
• TH1 and TH2 priced at $3,925,000.00 each; 18J at $1,260,000.00
• Storage units priced from $22,500.00 to $57,000.00
• Monthly common charges for sponsor-owned unsold units total $5,846.93
• 2008/2009 estimated annual/monthly real estate taxes for unsold units total $5,983.47
• Financial statements for year ended December 31, 2007 and projected 2008 budget attached
• Offering plan effective period extended 12 months from amendment date
• Board of Managers controlled by unit owners as of December 6, 2007

Amendment 19 Aug 10, 2007

Rules and Regulations amended to permit home occupations and professional office use in Residential Units, subject to zoning compliance and Board consent, and to clarify permitted occupancy.

• Residential Units may be used for home occupation and professional offices permitted under zoning law with prior written Board consent
• Professional use restricted: no patients, clients, or invitees in public hallways; only non-illuminated professional signs permitted
• Storage Units may store personal effects only; no materials posing health/safety threats or nuisances allowed
• Residential Units may only be occupied by owners, lessees, and specified related persons (officers, directors, partners, members, fiduciaries, employees) as primary occupants
• Transient, fractional, or shared occupancy arrangements prohibited
• Family members, domestic employees, and non-paying guests permitted

Amendment 18 Mar 30, 2007

Amendment reports first two unit closings, working capital fund status, and lists 156 unsold residential units and 173 unsold storage units.

• First Unit Closing (Unit 4A) occurred January 18, 2007
• Second Unit Closing (Unit 5A) occurred January 22, 2007; Sponsor escrowed $500,000.00 for permanent certificate of occupancy
• Temporary certificate of occupancy issued December 19, 2006
• Permanent certificate of occupancy to be obtained within two (2) years of first unit closing
• Working Capital Fund amount as of amendment date is $25,437.42
• Declaration of Condominium recorded December 4, 2006 as CRFN 2006000666657
• No Reserve Fund established at First Unit Closing
• 156 Residential Units and 173 Storage Units remain unsold or under contract

Amendment 17 Apr 17, 2007

Purchase prices increased for certain residential units, raising the total offering price to $328,481,000.00.

• Unit 41B price increased to $2,425,000
• Total Purchase Price of Offering now $328,481,000.00
• Price increases for residential units on pages 45-54 of original plan

Amendment 16 January 2007

Offering period extended for six months.

• Offering plan effective period extended for six (6) months from date of amendment
• No first closing has occurred yet
• Sponsor current on all financial obligations including mortgage debt service

Amendment 15 Sep 11, 2006

Amendment establishes agreement with CIMAX for home theater and home automation systems installation, and changes window treatment color requirement to neutral.

• CIMAX agreement for home theater, video, speakers and home automation pre-wiring and installation in units
• Vertilinc wireless building control device with $18 monthly subscription fee waived for first 18 months from first unit closing
• Sponsor receives 10% commission on Building Control Devices and Upgrade Packages sold by CIMAX
• CIMAX agreement terminates in 2 years or when all units close, whichever first
• Upgrade Packages unavailable to purchasers on floors 1-30 until after closing; post-closing upgrades require additional wiring at unit owner's cost
• Building Control Device available to all purchasers at any time without pre-wiring
• Window treatments visible from exterior must now be neutral in color

Amendment 14 Jul 10, 2006

Purchase prices increased for five residential units on the 41st floor; total offering price revised to $328,356,000.00

• Unit 41A price raised to $1,225,000
• Unit 41B price raised to $2,300,000
• Unit 41C price raised to $1,150,000
• Unit 41H price raised to $2,100,000
• Unit 41I price raised to $1,450,000
• Total Purchase Price of Offering now $328,356,000.00

Amendment 13 July 2006

Amendment declares the offering plan effective after 148 units (69% of total) were purchased.

• Offering plan declared effective by written notice dated June 22, 2006
• 148 residential units purchased, representing 69% of units offered
• List of 148 purchased units with their purchase agreement dates attached

Amendment 12 May 23, 2006

Common Interest percentages reallocated for three units and First Year of Condominium Operation moved to January 1, 2007.

• Unit 4D Common Interest increased to 0.4367%, TH1 decreased to 1.0741%, TH2 decreased to 1.0548%
• First Year of Condominium Operation now commencing January 1, 2007
• First Unit Closing anticipated January 1, 2007
• Real estate tax estimates updated for 2006/2007 and 2007/2008 tax years
• Residential Units projected real estate taxes for First Year approximately $2,348,173.00
• Storage Units projected real estate taxes for First Year approximately $50,829.00
• Real estate tax escrow examples revised for January 1, 2007 closing date

Amendment 11 Jan 17, 2006

Amendment adds 5 new residential units (215 total), increases total offering price to $328,036,000.00, and relocates the decorative trellis from 11th to 12th floor.

• Total residential units increased from 210 to 215
• Total Purchase Price of Offering now $328,036,000.00
• Decorative metal and glass trellis moved from 11th floor to 12th floor
• Plan effectiveness threshold updated to 33 units (15% of 215)
• Plan must be declared effective at 172 units (80% of 215)
• Special Risk 5 clarifies title insurance options and potential closing delays
• Building will have 42 structural floors plus subcellar and cellar (no 13th floor)

Amendment 10 July 2005

Amendment adds mortgage financing contingency option and increases down payment requirements for new purchasers.

• Down payment increased to 10% upon execution plus additional 5% within 60 days (total 15% in escrow)
• Sponsor may offer mortgage financing contingency up to 70% of purchase price
• Mortgage commitment must be obtained within 30 calendar days
• Purchaser must apply through approved mortgage brokers: Manhattan Mortgage Company or Wells Fargo Home Mortgage
• Sponsor can extend commitment date by 15 days or require application to alternate lender
• Purchaser may cancel if commitment not issued by commitment date, with deposit refunded within 20 days
• Loan term minimum 30 years at prevailing fixed or adjustable rate

Amendment 9 Nov 2, 2005

Purchase prices increased for certain residential units, raising the total offering price to $319,836,000.00.

• Purchase prices increased for 141 residential units listed in Schedule A1
• Total Offering Price now $319,836,000.00
• Schedule A prices increased for 156 homes (median +3.9%): TH1 $3,825,000 → $3,925,000; TH2 $3,825,000 → $3,925,000; 3F $1,325,000 → $1,370,000; 3G $860,000 → $890,000; ...

Amendment 8 Apr 1, 2005

Purchase prices increased for certain residential units; total offering price now $309,746,000.00

• Prices raised for 118 units listed in Schedule A (pages 45-54 of original plan)
• Total Purchase Price of Offering increased to $309,746,000.00
• Schedule A prices increased for 167 homes (median +8.0%): TH1 $3,650,000 → $3,825,000; TH2 $3,650,000 → $3,825,000; 3F $1,255,000 → $1,325,000; 3G $800,000 → $860,000; ...

Amendment 7 Jun 24, 2005

Purchase prices increased for 147 residential units across all floors.

• Total Purchase Price of Offering increased to $2,254,991,000.00
• Price increases for units 1H-1 through 40J and penthouse units PH-A through PH-D listed in attached Schedule A1

Amendment 6 Jun 21, 2005

Purchase prices increased for 123 residential units, raising the total offering price to $289,645,000.00.

• Prices increased for 123 residential units listed in Schedule A1
• Total offering price now $289,645,000.00
• Schedule A prices increased for 198 homes (median +3.0%): TH1 $3,550,000 → $3,650,000; TH2 $3,550,000 → $3,650,000; 3D $1,195,000 → $1,250,000; 3E $610,000 → $645,000; ...

Amendment 5 Jun 16, 2005

Purchase prices increased for 144 residential units; total offering price raised to $280,064,000.00.

• Purchase prices increased for 144 residential units listed in Schedule A (pages 45-54)
• Total offering price now $280,064,000.00
• Schedule A prices increased for 200 homes (median +3.9%): TH1 $3,450,000 → $3,550,000; TH2 $3,450,000 → $3,550,000; 3D $1,120,000 → $1,195,000; 3E $565,000 → $610,000; ...

Amendment 4 Jun 14, 2005

Purchase prices increased for 124 residential units across the building.

• Prices of 124 unsold homes raised across all floors
• New total offering price: $267,972,000.00
• Price increases listed in Schedule A1 for units on pages 45-54 of original plan
• Schedule A prices increased for 203 homes (median +4.5%): TH1 $3,350,000 → $3,450,000; TH2 $3,350,000 → $3,450,000; 3D $1,020,000 → $1,120,000; 3E $520,000 → $565,000; ...

Amendment 3 Jun 13, 2005

Purchase prices increased for 82 residential units across floors 3 through 40 and penthouse units.

• Purchase prices raised for units TH-1, TH-2, 3-D through 3-J, 4-D through 4-J, 5-A through 5-J, 6-A through 6-J, 7-A through 7-J, 8-A through 8-I, 9-A through 9-J, 10-A through 10-J, 11-A through 11-J, 12-A through 12-J, 14-A through 14-J, 15-A through 15-I, 16-A through 16-J, 17-A through 17-J, 18-A through 18-J, 19-A through 19-J, 20-A through 20-J, 21-A through 21-J, 22-A through 22-J, 23-A through 23-J, 24-A through 24-J, 25-A through 25-J, 26-A through 26-J, 27-A through 27-J, 28-A through 28-J, 29-A through 29-J, 30-A through 30-J, 31-A through 31-J, 32-A through 32-J, 33-A through 33-J, 34-A through 34-J, 35-A through 35-J, 36-A through 36-J, 37-A through 37-J, 38-A through 38-J, 39-A through 39-J, 40-A through 40-J, PH-1A, PH-1B, PH-1C, and PH-1D
• Total Purchase Price of the Offering now $251,136,000.00
• Schedule A prices increased for 205 homes (median +3.4%): TH1 $3,200,000 → $3,350,000; TH2 $3,200,000 → $3,350,000; 3D $870,000 → $1,020,000; 3E $485,000 → $520,000; ...

Amendment 2 Jun 10, 2005

Purchase prices increased for 79 residential units across multiple floors.

• Purchase prices increased for units TH-1, TH-2, 3-D through 3-J, 4-D through 4-J, 5-B through 5-J, 6-B through 6-J, 7-B through 7-D, 7-H, 7-J, 8-B through 8-J, 9-B through 9-J, 10-B through 10-J, 11-B through 11-J, 12-B through 12-J, 14-B through 14-J, 15-B through 15-J, 16-B through 16-J, 17-B, 17-C, 17-H, 17-J, 18-B, 19-B through 19-J, 20-B through 20-J, 21-B through 21-J, 22-B through 22-J, 23-B through 23-J, 24-B through 24-J, 25-B, 25-C, 25-H, 25-J, 26-J, 27-B through 27-J, 28-B through 28-J, 29-B through 29-J, 30-B through 30-J, 31-B through 31-J, 32-B through 32-J, 33-B through 33-J, 34-B through 34-J, 35-B through 35-J, 36-B through 36-J, 37-B through 37-J, 38-B through 38-J, 39-B through 39-J, 40-B through 40-J, PH-1A, PH-1B, PH-1C, PH-1D
• Total Purchase Price of the Offering updated to $243,461,000.00
• Schedule A prices increased for 164 homes (median +2.8%): TH1 $3,150,000 → $3,200,000; TH2 $3,150,000 → $3,200,000; 3D $850,000 → $870,000; 3E $450,000 → $485,000; ...

Amendment 1 Jun 10, 2005

Purchase prices increased for 24 residential units; total offering price restated to $234,391,000.00.

• Prices of units 17-H through 40-H raised (ranging from $1,390,000 to $1,505,000)
• Total Purchase Price of Offering restated to $234,391,000.00
• Schedule A prices increased for 22 homes (median +20.9%): 17H $1,145,000 → $1,390,000; 18H $1,150,000 → $1,395,000; 19H $1,155,000 → $1,400,000; 20H $1,160,000 → $1,405,000; ...