Manor82 Condominium

Amendment 6 Dec 6, 2022

This sixth amendment reports the first unit's closing, the building's temporary certificate of occupancy and expected final certificate, the sponsor's continued control of the board, bank balances, and the mortgage on unsold units.

• First Unit closed on November 10, 2022
• Temporary certificate of occupancy issued September 30, 2022; sponsor anticipates final certificate of occupancy by the end of 2022
• $5,000.00 deposited with escrow agent to secure the final certificate of occupancy
• Sponsor still controls the board; will relinquish control at the first Unit Owners meeting within thirty (30) days after November 10, 2023, or when Unsold Units are less than 50% of Common Interests, whichever is sooner
• All Unsold Units encumbered by mortgages in favor of Bank Leumi USA, outstanding principal approximately $16,509,000.00
• Real estate taxes not yet separately assessed for each Unit
• Operating account $4,592.12; working capital fund $10, 204.70; reserve fund $510.23
• Exhibit 3 lists Unsold Units with monthly common charges (total $10,188.58) and monthly real estate taxes (total $5,096.29); no Unsold Units occupied by tenants

Amendment 5 Jul 22, 2022

This amendment declares the Manor82 Condominium plan effective after the sponsor accepted purchase agreements for four residential units, 19.05% of the units offered, and attaches the sponsor's affidavit listing those units.

• Plan declared effective upon acceptance of this amendment for filing
• Purchase agreements for four Residential Units (19.05% of units offered) counted toward effectiveness
• Units counted: 2A & PS4 (June 10, 2022), SB & ST4 (June 9, 2022), 6C & ST3 (April 12, 2022), 6D (April 11, 2022)
• Sponsor affidavit annexed as Exhibit 1 under 13 NYCRR §20.5(e)(5)
• No other changes to the Plan; its remaining terms stay in force

Amendment 4 Jun 13, 2022

This amendment updates the building description to reflect the architect's revised report: Unit TH loses a master bedroom bathtub, four units get sliding closet doors, and the Unit PH1 washer and dryer closet layout changes.

• Unit TH will not have a bathtub in the master bedroom
• Units 3A, 4A, 5A, and 6A will have a sliding closet door instead of double swinging doors
• Layout of the washer and dryer closet in Unit PH1 has changed
• Architect's report revised to reflect as-built conditions; no areas changed

Amendment 3 Apr 29, 2022

This third amendment revises the offering prices of 15 residential units and attaches a revised Schedule A as Exhibit 1, with no other changes to the Plan.

• Offering prices revised for Residential Units 2B, 3A, 3B, 3C, 3D, 4A, 4B, 4C, 4D, 5A, 5B, 5C, 5D, 6A and 6B
• Revised Schedule A (Exhibit 1) for the first year of condominium operation, July 1, 2022 - June 30, 2023, replaces the prior prices
• No other changes to the Plan; its remaining terms stay in full force
• Schedule A prices increased for 14 homes (median +2.0%): 3A $2,848,000 → $2,950,000; 3B $2,375,000 → $2,395,000; 3C $2,368,000 → $2,390,000; 3D $1,398,000 → $1,495,000; ...

Amendment 2 Oct 4, 2021

This amendment revises the first-year budget to add three doormen, updates the sizes and room counts of several units, offers buyers who signed before the amendment a right of rescission, and adds a roofing warranty, a projected working capital fund, and a change to how the transfer tax is calculated.

• First-year budget (July 1, 2022 – June 30, 2023) revised to add three (3) doormen at a cost of $133,091.00
• Community Facility Unit no longer pays for doormen, common water charges and sewer rents
• Sizes changed for Units C1, TH, 2A, 2B, 3A, 3B, 3C, 4A, 4B, 4C, 5A, 5B, 5C, 6A, 6B, 6C, PH1, PH2, PS1–PS5, ST1 and ST2
• Limited common element sizes changed for Units TH, PH1 and PH2; bedroom and bathroom counts changed for Units 4A, 5A, 6A, PH1 and PH2
• Purchasers who signed before the amendment offered a right of rescission until midnight of the fifteenth day after service of the amendment
• Soprema, Inc. roofing warranty: roof waterproofing watertight for ten (10) years from roof installation, assigned to the Board of Managers at the closing of the first Residential Unit
• Working Capital Fund anticipated to equal $60,894.67 for the first year of operation, upon sale of all Units
• As of July 1, 2021, NY State transfer tax excluded from the consideration calculation; New York City transfer tax added to the purchase price instead

Amendment 1 Apr 22, 2021

This amendment adds disclosure about the sponsor's Bank Leumi USA loans, including how units are released from the lien on sale and how renting instead of selling would delay loan repayment, and updates the sponsor's attorney address.

• Bank Leumi USA loans disclosed: acquisition loan $13,800,000.00, building loan $11,974,323.00, project loan $4,225,677.00
• A unit is released from Bank Leumi's lien upon sale, after payment of the release price in the loan documents
• Schedule A offering prices are stated to be in excess of the loan release prices
• Bank Leumi set no minimum sales or contract requirements before the plan can be declared effective
• Bank Leumi set no limits on the sponsor renting rather than selling units
• Sponsor's decision to rent rather than sell will delay discharge of the loan
• Sponsor's attorneys, Tsyngauz & Associates, P.C., moved to 114 Mulberry Street, 1st fl., New York, NY 10013
• Introduction paragraph 5 and Rights and Obligations of Sponsor paragraph 9 revised accordingly