101 Wall Condominium

Amendment 22 Aug 31, 2021

Amendment updates sponsor disclosures, adds a new purchase incentive covering common charges and real estate taxes for one year, provides 2021 budget and 2020 financial statements, and extends the offering plan filing period.

• New purchase incentive: Sponsor pays common charges and real property taxes for one year from closing
• Four unsold units remain: 11B, 12B, 20B, PH1
• Aggregate monthly common charges for sponsor-held units: $9,143.16 as of August 1, 2021
• Aggregate real estate taxes for sponsor-held units: approximately $168,294.72 for tax year 2020/21
• Special assessment for façade repair: $11,316.07 remaining balance as of August 1, 2021
• Mortgage with Valley National Bank: $1,794,882.42 principal as of August 16, 2021, matures May 1, 2026
• Temporary Certificate of Occupancy renewed August 13, 2021; permanent certificate expected by fourth quarter of 2021
• Offering plan filing period extended twelve months

Amendment 21 Sep 9, 2020

Price increase for one unit, new purchase incentive for common charges and taxes, and extension of filing period.

• Unit 20B price raised to $2,249,000.00
• New purchase incentive: Sponsor may pay common charges and real property taxes for one year from closing
• Aggregate monthly common charges for Sponsor-held units: $9,143.16 as of August 25, 2020
• Aggregate real estate taxes for Sponsor-held units: approximately $90,878.00 for tax year 2020/21
• Temporary Certificate of Occupancy renewed July 13, 2020 (expires October 11, 2020); permanent certificate expected by first quarter of 2021
• Special escrow account balance for permanent certificate: $25,500.00
• Filing period extended twelve (12) months from filing of this Amendment
• 2020 budget attached; 2019 financial statements attached

Amendment 20 Mar 2, 2020

Price of Unit 12B changed to $1,895,000.

Amendment 19 Dec 10, 2019

Managing Agent changed to Midboro Management, Inc.

Amendment 17 Oct 21, 2019

This seventeenth amendment updates sponsor disclosures, adds new transfer tax information effective July 1, 2019, provides 2019 budget and 2018 financial statements, and extends the plan's filing period by twelve months.

• Six unsold units remain; one has executed purchase agreement, five do not
• Sponsor's aggregate monthly common charges $14,173.41; aggregate real estate taxes approximately $275,924.92 for tax year 2019/20
• All unsold units subject to mortgage with Mercantil Bank, N.A.; principal amount $2,390,848.00 as of September 11, 2019; maturity date June 15, 2020
• New York transfer taxes increased as of July 1, 2019; additional taxes apply to sales $2,000,000 or more
• Temporary Certificate of Occupancy renewed August 15, 2019; permanent certificate expected by end of 2019 or early 2020; special escrow balance $25,083.32
• Department of Law investigating whether sponsor violated Martin Act regarding limited marketing activities after plan expiration
• Filing period extended twelve months from filing date

Amendment 16 2019

Real estate taxes settled, common charge credits offered, escrow account moved, prices reduced, smoking policy disclosed, and FinCEN reporting requirements added.

• Real estate taxes settled with NYC Department of Finance for unsold units
• Common charge credit of $30.00 per square foot offered ($.50/sq ft/month for 5 years)
• Escrow deposits moved from TD Bank to City National Bank account
• Purchase prices reduced for certain unsold units
• FinCEN all-cash purchase reporting requirement disclosed for transactions $300,000+
• Smoking policy explicitly added to Purchase Agreement

Amendment 15 Nov 16, 2018

Sponsor changed prices for five unsold units.

• Unit 2C price changed to $2,000,000
• Unit 12A price changed to $995,000
• Unit 1C price changed to $1,600,000
• Unit 1SB price changed to $1,950,000
• Unit PH1 price changed to $4,995,000
• Schedule A prices decreased for 3 homes (median -19.4%): 2C $2,975,000 → $2,000,000; 12A $1,235,000 → $995,000; PH1 $5,950,000 → $4,995,000

Amendment 14 August 2018

Amendment discloses 18 unsold units, updates sponsor financial obligations, changes selling agent, and issues temporary certificate of occupancy.

• 18 units unsold as of filing (1 under contract, 17 not)
• Temporary Certificate of Occupancy issued July 3, 2018 for all residential units
• Selling agent changed from Corcoran Sunshine Marketing Group to Nest Seekers International
• Sponsor control of Board of Managers ended as of June 12, 2018 unit owner meeting
• Tax assessments for 2018/2019 tax year issued; Board protested new amounts
• 2017 financial statements included; budget estimated adequate for balance of 2018
• Aggregate monthly common charges for sponsor-held units: $37,380.08
• Sponsor mortgage with Mercantil Bank: $20,000,000.00 principal, maturity June 15, 2020

Amendment 13 Jan 11, 2018

Prices changed for 7 unsold units.

• 7A: $1,120,000
• 8A: $1,130,000
• 9B: $2,495,000
• 10B: $2,250,000
• 11B: $2,275,000
• 22A: $3,495,000
• PH2: $5,995,000
• Schedule A prices decreased for 7 homes (median -5.2%): 7A $1,145,000 → $1,120,000; 8A $1,200,000 → $1,130,000; 9B $2,660,000 → $2,495,000; 10B $2,375,000 → $2,250,000; ...

Amendment 12 Sep 27, 2017

Prices changed for four unsold units.

• Unit 7A price changed to $1,145,000
• Unit 4B price changed to $2,295,000
• Unit 11C price changed to $1,925,000
• Unit 22A price changed to $3,685,000
• Schedule A prices decreased for 4 homes (median -4.2%): 4B $2,390,000 → $2,295,000; 7A $1,195,000 → $1,145,000; 11C $2,020,000 → $1,925,000; 22A $3,875,000 → $3,685,000

Amendment 11 July 2017

Updated pricing for unsold units, added buyer disclosure about title company reporting requirements for cash purchases, confirmed residential Certificate of Occupancy, corrected declaration omissions, and extended filing period.

• Schedule A pricing updated for all unsold units and real estate taxes
• Title companies must report identities for cash purchases of $3M+ in Manhattan
• Amended temporary Certificate of Occupancy issued May 26, 2017 for residential use
• First Amendment to Amended and Restated Declaration corrects inadvertently omitted provisions
• 31 unsold units: 8 with executed Purchase Agreements, 23 without agreements
• Sponsor controls Board of Managers until 75% of units closed
• Mortgage principal $12,877,500 with October 1, 2017 maturity date
• Filing period extended 6 months

Amendment 10 Jun 16, 2017

Sponsor changed prices for 20 unsold units across multiple floors.

• Prices raised for 20 unsold units: 7A to $1,195,000, 8A to $1,200,000, 9A to $1,210,000, 10A to $1,215,000, 11A to $1,225,000
• B-line prices raised: 4B to $2,390,000, 5B to $2,425,000, 6B to $2,475,000, 7B to $2,500,000, 8B to $2,625,000, 9B to $2,660,000
• Upper B-line prices raised: 10B to $2,375,000, 11B to $2,395,000, 12B to $2,445,000, 14B to $2,490,000, 15B to $2,575,000
• High-floor prices raised: 23A to $3,300,000, 22A to $3,875,000, PH1 to $5,950,000, PH2 to $6,300,000
• Schedule A prices decreased for 20 homes (median -4.0%): 4B $2,495,000 → $2,390,000; 5B $2,525,000 → $2,425,000; 6B $2,655,000 → $2,475,000; 7A $1,210,000 → $1,195,000; ...

Amendment 9 Nov 29, 2016

Amendment establishes first closing occurred March 29, 2016, sets common charges billing to begin January 1, 2017, and lists unsold units held by sponsor.

• First Closing of Commercial Units A, B, C occurred March 29, 2016
• Common Charges billing begins January 1, 2017; Sponsor covered all operating expenses until then
• Permanent Certificate of Occupancy for First Units issued November 9, 2007
• Working Capital Fund established with $1,710.08 (two months' Common Charges) at Capital One Bank
• 51 unsold units listed: 32 with executed Purchase Agreements not yet closed, 19 without agreements
• Board of Managers members designated: John P. Lari (President/Secretary), Steve Lari (Vice-President/Assistant Secretary), Krsto Stamatovski
• Filing period extended six months

Amendment 8 2016

Sponsor changed prices for seven unsold units.

• Unit 5A price changed to $1,135,000
• Unit 12A price changed to $1,235,000
• Unit 14A price changed to $1,250,000
• Unit 15A price changed to $1,265,000
• Unit 4B price changed to $2,495,000
• Unit 5B price changed to $2,525,000
• Unit 20A price changed to $1,730,000
• Schedule A prices decreased for 7 homes (median -3.8%): 4B $2,595,000 → $2,495,000; 5A $1,180,000 → $1,135,000; 5B $2,625,000 → $2,525,000; 12A $1,285,000 → $1,235,000; ...

Amendment 7 2016

Unit 18AB price, square footage, and common interest percentages updated; first closing projected for December 2016; Schedule B budget revised.

• Unit 18AB offering price set to $5,335,000.00
• Unit 17A square footage revised to 1113 square feet
• Unit 17B square footage revised to 2167 square feet
• Units 18A and 18B combined into Unit 18AB with 3074 square feet and 52 square feet storage
• Unit 18AB now contains 6 bedrooms and 5 bathrooms
• First Residential Units first closing projected December 2016
• Schedule B budget projected for December 1, 2016 to November 30, 2017
• Common interest percentages revised for Units 17A, 17B, and 18AB
• Schedule A prices increased for 1 home (median +4.4%): 20B $2,870,000 → $2,995,000

Amendment 6 Oct 28, 2015

This is the cover page and table of contents of an amended and restated offering plan; no substantive changes to the plan itself are described in this excerpt.

Amendment 5 Oct 13, 2015

Sponsor changed prices for 41 unsold units across multiple floors.

• Prices changed for 41 unsold units
• 2A and 2C: $2,975,000
• 5A through 16A: $1,180,000 to $1,330,000
• 4B through 9B: $2,595,000 to $2,745,000
• 4C through 16C: $1,695,000 to $2,120,000
• 17B: $3,850,000
• 19A: $1,570,000; 23A: $3,590,000
• PH1: $6,500,000; PH2: $6,650,000
• Schedule A prices increased for 36 homes (median +4.3%): 2A $2,750,000 → $2,975,000; 2C $2,750,000 → $2,975,000; 4B $2,565,000 → $2,595,000; 4C $1,650,000 → $1,695,000; ...

Amendment 4 Sep 16, 2015

Sponsor changed prices for 27 unsold units across multiple floors.

• Prices of 27 unsold units changed
• Units 5A through 16A: prices ranging from $1,135,000 to $1,250,000
• Units 4B through 16B: prices ranging from $2,545,000 to $2,670,000
• Units 22A and 23A: prices of $3,995,000 and $3,495,000
• Schedule A prices increased for 25 homes (median +4.3%): 4B $2,415,000 → $2,565,000; 5A $1,100,000 → $1,135,000; 5B $2,465,000 → $2,590,000; 6A $1,110,000 → $1,145,000; ...

Amendment 3 Sep 2, 2015

Sponsor changed prices for 9 unsold units.

• Unit 10B: $2,415,000
• Unit 11B: $2,440,000
• Unit 12B: $2,465,000
• Unit 14B: $2,490,000
• Unit 15B: $2,520,000
• Unit 16B: $2,550,000
• Unit 2A: $2,750,000
• Unit 2B: $3,225,000
• Schedule A prices increased for 9 homes (median +5.0%): 2A $2,550,000 → $2,750,000; 2B $2,995,000 → $3,225,000; 2C $2,550,000 → $2,750,000; 10B $2,300,000 → $2,415,000; ...

Amendment 2 Aug 13, 2015

Sponsor changed prices for six unsold units.

• Unit 4B price changed to $2,415,000
• Unit 5B price changed to $2,465,000
• Unit 6B price changed to $2,490,000
• Unit 7B price changed to $2,515,000
• Unit 8B price changed to $2,540,000
• Unit 9B price changed to $2,565,000
• Schedule A prices increased for 6 homes (median +4.8%): 4B $2,300,000 → $2,415,000; 5B $2,350,000 → $2,465,000; 6B $2,375,000 → $2,490,000; 7B $2,400,000 → $2,515,000; ...

Amendment 1 May 11, 2015

Amendment revises unit square footage for PH1 and eight storage units, updates floor plans, and provides new certifications on common charges and budget adequacy.

• Unit PH1 square footage changed; Storage Units 2B, 7A, 9A, 10A, 19A, 21A, 23A square footage revised
• Schedule B revised with minor revisions
• Floor plans adjusted for PH1 changes and minor dimensional changes to many units
• Updated 339(i) Opinion from FirstService Residential
• Updated Certification of Common Charges from FirstService Residential
• Updated Budget Certification from FirstService Residential
• Updated 339(i) Opinion from Olshan Frome Wolosky LLP
• Schedule A prices decreased for 1 home (median -0.5%): 16C $2,025,000 → $2,015,000