75 Wall Street Condominium

Amendment 42 Aug 5, 2025

This amendment updates the unsold-unit figures and Schedule A, names Serhant LLC as selling agent for unsold homes, extends the plan's term 12 months, and discloses a lawsuit against the hotel unit owner and new Residential Board control details.

• Schedule A updated with common charge amounts and 2025/2026 real estate tax amounts for 38 unsold residential units listed as of July 15, 2025
• Plan term extended to twelve (12) months from the filing of this Amendment
• Serhant LLC named exclusive Selling Agent for the Unsold Residential Units
• Residential Board lawsuit against White Pearl Hospitality LLC (Hotel Unit Owner) filed May 5, 2025, over approximately $490,000 in unpaid charges
• Sponsor no longer holds a majority of Residential Board seats; Michael Hakimian and Jonathan Peykar are affiliated with Sponsor
• All unsold units financed under mortgage to Emigrant Bank, maturity February 5, 2027, principal $5,791,469.58 as of July 2025
• 30 unsold units occupied by tenants, with approximately $250,840.00 monthly rent as of July 2025
• Residential Section financial statements for 2023 and 2024 not yet issued; to be provided in a later amendment

Amendment 41 Feb 16, 2024

This amendment updates the Plan's financial and unsold-unit information as of January 2024, reports the new board control and certificate of occupancy status, and extends the Plan's term.

• 55 Unsold Residential Units remain as of January 31, 2024, listed in Exhibit A
• Plan term extended to expire twelve months from the filing of this Amendment
• Sponsor no longer holds a majority of seats on the Residential Board
• Permanent Certificate of Occupancy not yet issued; temporary CO effective January 11, 2024 attached; estimated cost $0.00, so no escrow
• Budget for January 1, 2024 through December 31, 2024 adopted; 2022 financial statement attached; 2023 statement not yet available
• Schedule A updated; aggregate monthly Common Charges approximately $71,671 and real estate taxes approximately $109,481 for Unsold Residential Units
• Unsold Residential Units financed under Flagstar Bank mortgage maturing February 10, 2025, with $20,001,600 outstanding principal as of January 10, 2024
• 39 Unsold Residential Units occupied by tenants, with aggregate monthly rent approximately $349,635

Amendment 40 Apr 12, 2023

This amendment updates the 2023 operating budget, the unsold-unit price and charge schedule (Schedule A), the escrow rider, and the plan's term, and corrects a typo in the General Common Interest amounts for unsold units.

• Residential operating budget for January 1, 2023 through December 31, 2023 adopted and attached as Exhibit A
• Schedule A updated with the common charge amounts from the 2023 budget
• Estimated real estate taxes recalculated using actual DOF amounts for tax year 2022/2023, with and without 421-g benefits
• General Common Interest for unsold units corrected to match the 38th Amendment, fixing a typo in the 39th Amendment's Schedule A
• Escrow Rider revised with new account information and other changes
• Plan term extended

Amendment 39 Feb 7, 2023

This amendment updates the financial, unit, and board information for the 66 unsold units as of December 12, 2022, sets new closing fees, and extends the plan's term by twelve months.

• Plan term extended to expire twelve (12) months from the filing of this Amendment
• 66 Unsold Residential Units as of December 12, 2022, with prices and charges listed in Schedule A (Exhibit A)
• Mortgage on unsold units with Signature Bank, maturity February 10, 2025, outstanding principal $28,005,400 as of December 12, 2022
• Aggregate monthly Common Charges for unsold units approximately $83,436.42; aggregate monthly real estate taxes approximately $127,942.12
• 59 unsold units occupied by tenants, with aggregate monthly rent approximately $405,170
• Sponsor no longer holds a majority of Residential Board seats; current members listed
• Closing fees: $4,000 per unit base fee, plus $850 if purchaser obtains mortgage financing
• Hotel Unit title transferred December 29, 2021 to an unaffiliated entity; foreclosure action reported terminated January 5, 2022

Amendment 38 Jan 28, 2022

This amendment extends the Plan's term by twelve months, updates the unsold-unit figures, reports the Hotel Unit's closure and pending foreclosure, and reduces the permanent Certificate of Occupancy cost estimate to $0.00.

• Plan term extended: expires twelve (12) months from the filing of this Amendment
• Hotel Unit remains closed since March 2020; foreclosure action pending (Index Number 850045/2021)
• 81 Unsold Residential Units as of December 1, 2021, listed with offering prices in Exhibit A
• Permanent Certificate of Occupancy cost estimate reduced from $9,600,000 to $0.00; no escrow required
• Sponsor no longer holds a majority of seats on the Residential Board
• Unsold units mortgaged to Signature Bank, maturity February 20, 2025, outstanding principal $37,877,500 as of November 10, 2021
• 68 Unsold Residential Units occupied by tenants; aggregate monthly rent approximately $462,373
• Unsold units' aggregate monthly Common Charges approximately $99,232.91 and real estate taxes approximately $133,379.74 as of December 1, 2021

Amendment 37 May 21, 2021

This amendment discloses that the hotel unit's mortgage is in foreclosure, updates the unsold-unit counts and figures, reports a change in Residential Board control, and adds the 2021 budget and a 2019 financial statement.

• Hotel Unit mortgage matured unpaid; lender 50 Wall Lender LLC began foreclosure (Index Number 850045/2021)
• Hotel shut since March 2020; Hotel Unit owner 75 Wall Hotel, LLC, an affiliate of Sponsor, is evaluating whether to reopen
• 83 Unsold Residential Units as of April 1, 2021; 69 are occupied by tenants
• Sponsor no longer holds a majority of Residential Board seats; three of six members are affiliated with Sponsor
• Unsold-unit monthly figures: Common Charges approximately $101,478.84; real estate taxes approximately $126,315.50; rental income approximately $398,992.67
• Unsold Residential Units' mortgage with Signature Bank matures February 20, 2025; principal $40,007,600 as of July 22, 2020; interest only, varies with LIBOR
• Operating budget for January 1, 2021 through December 31, 2021 added (Exhibit B)
• 2019 financial statement added; 2020 statement not yet available; Plan term expires twelve months from filing

Amendment 36 Aug 19, 2020

The amendment updates the plan's 2020 budget, Schedule A prices and tax estimates, unsold-unit and mortgage disclosures, board membership, and title company reporting, and extends the plan's effective period by twelve months.

• Schedule A offering prices, common charges and 2020/2021 real estate tax estimates updated (Exhibit B)
• Plan effective period extended 12 months from filing of this Amendment
• 2020 operating budget for Residential Section attached (Exhibit A)
• Residential financial statements for period ending December 31, 2019 not yet finalized; to come in a future amendment
• 85 Unsold Residential Units as of July 22, 2020, all occupied by tenants; aggregate monthly rent approximately $490,583.00
• Sponsor no longer holds a majority of Residential Board seats; board list updated
• Title company reporting disclosure restated for FinCEN order, effective until November 5, 2020 (subject to extension)
• Unsold units financed by Signature Bank mortgage maturing February 20, 2025; outstanding principal $40,007,600 as of July 22, 2020