What Changes in an Offering Plan Amendment?
Short answer: Prices, more than anything. An amendment is a filing the developer (the "sponsor") makes to update its offering plan. Of the 8,840 NYC condo amendments we have summarized, 57% change or restate prices (the price list is called Schedule A). Next come the budget (43%), reports on how many units have sold or closed (33%), and construction and first-closing dates (32%). Most amendments cover several things; the average touches 3.1 of the topics below. Changes to the rules, the amenities or your right to cancel are rarer, and those are the ones to read closely.
What Amendments Change
| Prices (Schedule A) | 57% |
|---|---|
| Budget, common charges or maintenance | 43% |
| Sales progress (units sold or closed) | 33% |
| Construction or first-closing dates | 32% |
| Real estate taxes or tax breaks | 25% |
| Plan term extended | 23% |
| Sponsor financing (loans, mortgages) | 18% |
| Reserve fund or working capital | 17% |
| Plan declared effective | 17% |
| Agents, escrow, architect or lawyers | 16% |
| Units added, combined or redesigned | 12% |
| Declaration, by-laws, house rules or lease | 10% |
| Buyers offered the right to cancel | 6% |
| Amenities | 2% |
Amendment summaries on The Condo Book Project, 1,613 condo plans, as of Nov 9, 2026. One amendment usually covers several topics.
An amendment counts toward a topic when its summary or one of its listed changes mentions it. Each building page lists what every amendment we have read changed, in its Amendments section.
The First Amendment vs. Later Ones
The first amendment and the later ones do different jobs. The first often declares the plan effective, meaning enough units are under contract for the deal to go ahead (32% of first amendments, against 14% of later ones). It also adjusts prices or layouts after early sales. Later amendments mostly keep the plan current: a new budget each year (46%), a sales report (36%), updated tax figures (27%) and the state of the reserve fund (20%). Co-op amendments are different: they talk about the building's mortgage and financing more often (36%, against 18% for condos) and seldom about construction (4%).
| Change | First amendment | Later amendments | Co-op amendments |
|---|---|---|---|
| Prices (Schedule A) | 63% | 56% | 53% |
| Budget, common charges or maintenance | 28% | 46% | 50% |
| Sales progress (units sold or closed) | 16% | 36% | 36% |
| Construction or first-closing dates | 28% | 33% | 4% |
| Real estate taxes or tax breaks | 17% | 27% | 10% |
| Plan term extended | 21% | 24% | 16% |
| Sponsor financing (loans, mortgages) | 9% | 20% | 36% |
| Reserve fund or working capital | 5% | 20% | 15% |
| Plan declared effective | 32% | 14% | 5% |
| Agents, escrow, architect or lawyers | 17% | 15% | 16% |
| Units added, combined or redesigned | 18% | 11% | 5% |
| Declaration, by-laws, house rules or lease | 5% | 11% | 5% |
| Buyers offered the right to cancel | 8% | 5% | 2% |
| Amenities | 2% | 2% | 1% |
The Changes, One by One
Prices
A price amendment files a new Schedule A, raising or cutting the asking price of some or all unsold units. It takes effect the day it is submitted, without waiting for the New York Attorney General (AG), which reviews plans, to respond. For how many plans' total prices rose or fell, see how to find a plan's amendments.
Budget
Sponsors file updated budgets (Schedule B) as time passes, which resets your projected common charges (the condo's monthly fee) or co-op maintenance. Compare it with the budget in the plan: higher payroll or insurance shows up here first. See Schedule A and Schedule B.
Construction and closing dates
In new buildings, amendments move the expected first closing and completion dates. Plans usually let buyers cancel if the first closing slips past a set date, so a new date can matter more than a new price.
Plan term and effectiveness
A plan can only be used for a limited time, so sponsors file amendments to extend it (23% of condo amendments mention an extension). The amendment that declares a plan effective says how many units were under contract.
Sales progress and sponsor finances
Later amendments often report units sold, closed and still unsold, what the sponsor pays on unsold units, and its loans. A sponsor that still owns many units years later is a risk worth checking.
Taxes
New tax estimates, or a change to a tax break such as 421-a or 485-x (city programs that cut taxes on new buildings). See how plans estimate property taxes.
Rules, documents and amenities
Less often, an amendment rewrites the declaration, by-laws or house rules (10%), or changes the amenities (2%). These change what you are buying, not just what it costs. A few real examples:
| Building | Amendment | What it changed |
|---|---|---|
| 301 West 53rd StreetCD130300 | 6March 13, 2015 | Pet policy revised to allow two domestic pets up to 90 pounds each without Board consent |
| 51 East 131st Street And 48 East 132nd StreetCD160016 | 2September 2016 | Gym decreased; additional bicycle storage room added; janitors closet replaced by pet spa; common laundry eliminated at 51 East 131st Street cellar |
| 80 East 10th StreetCD170016 | 8 | First Unit closing projected on or about January 1, 2019; rescission right if closing occurs after December 31, 2019 |
| 320 East 82nd StreetCD160055 | 3 | Purchasers have right to rescind if budget increases by 25% or more before First Unit Closing |
| 2132-2136 Second AvenueCD050026 | 162025 | Escrow agent changed to Golenbock Eiseman Assor Bell & Peskoe LLP with account at Bank of America |
The right to cancel
When an amendment discloses a material change that hurts buyers, the sponsor must offer buyers under contract the right to cancel ("rescind") and get their deposit back. 6% of condo amendments mention rescission. If yours does, check the deadline.
What to Do With a New Amendment
- Read the first pages. Most amendments open with a numbered list of what changed.
- Compare the new Schedule A and Schedule B with the old ones for your unit's price and your monthly costs.
- Look for a rescission offer and its deadline.
- Check the dates. A later first closing can trigger your right to cancel under the plan.
- Ask your attorney whether a change is material for you.
To find every amendment, use the building's page here or the Attorney General's database: see how to find offering plan amendments. For co-ops, see co-ops that changed their rules in amendments.
FAQ
What is an amendment to an offering plan?
A filing with the New York Attorney General that updates an offering plan after it was accepted. Sponsors must amend promptly when something important changes. Each amendment is numbered under the same plan ID.
What do most amendments change?
Prices. 57% of the NYC condo amendments we summarized change or restate prices, and 43% update the budget.
Can an amendment change the building's rules?
Yes. 10% of condo amendments mention the declaration, by-laws, house rules or rules and regulations, for example a new pet or smoking policy. After the first closing, rule changes are usually made by the board or owners instead.
Does an amendment let me cancel my contract?
Only if it discloses a material change that hurts buyers, or the plan gives you a right to cancel for that event (for example, a first closing after a set date). Then the sponsor must offer to cancel and return your deposit.
How many amendments does a plan have?
It depends on size and how long sales take. See how to find offering plan amendments for medians.
Where this comes from: 10,465 amendments to 1,737 NYC offering plans (8,840 condo amendments to 1,613 plans, 1,625 co-op amendments to 124 plans), each summarized from its own text, as shown on the building pages. Shares count amendments whose summary or listed changes mention a topic, so they are approximate. This is general information, not legal advice. Updated November 2026.
Related: NYC Co-ops That Changed Their Rules in Plan Amendments · How to Find and Read Amendments to a NYC Condo Offering Plan