twenty-fourth amendment to …...monies other than purchasers' deposits to secure its...

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TWENTY-FOURTH AMENDMENT

TO

CONDOMINIUM OFFERING PLAN

HALCYON CONDOMINIUM 305 EAST 51 ST STREET

NEW YORK, NEW YORK 10022

Dated:

Contents

1. CERTIFICATE OF OCCUPANCY ...... ... ........................................................................... 1

2. INCORPORATION OF THE PLAN ........ .......................................................................... 1

3. NO OTHER MATERIAL CHANGES .................... .......... .. .... .. ............. ...... .... .. ...... ... ... ... .. 2

4. DEFINITIONS ........ ... ..... ......... ......................... .. ...... ... ...................... ... .. .. ..... ... .. .. ... .. .. .. ... ... 2

Exhibits

A Current TCO B Architect's Letter

1

TWENTY-FOURTH AMENDMENT TO

CONDOMINIUM OFFERING PLAN HALCYON CONDOMINIUM

This Twenty-Fourth Amendment modifies and supplements the terms of the Condominium Offering Plan for the premises known as the Halcyon Condominium ("Condominium") and located at 305 East 5l51 Street, New York, New York 10022 ("Building"), dated March 22, 2013, the First Amendment dated April 25, 2013, the Second Amendment dated May 9, 2013, the Third Amendment dated June 17, 2013, the Fourth Amendment dated June 27, 2013, the Fifth Amendment dated August 1, 2013, the Sixth Amendment dated August 7, 2013, the Seventh Amendment dated August 26, 2013, the Eighth Amendment dated October 4, 2013, the Ninth Amendment dated November 5, 2013, the Tenth Amendment dated November 14, 2013, the Eleventh Amendment dated January 29, 2014, the Twelfth Amendment dated March 10, 2014, the Thirteenth Amendment dated May 30, 2014, the Fourteenth Amendment dated July 23, 2014; the Fifteenth Amendment dated September 19, 2014, the Sixteenth Amendment dated October 1, 2014, the Seventeenth Amendment dated October 28, 2014, the Eighteenth Amendment dated April 8, 2015, the Nineteenth Amendment dated May 18, 2015, the Twentieth Amendment dated September 16, 2015, the Twenty-First Amendment dated December 3, 2015, the Twenty-Second Amendment dated February 23, 2016, and the Twenty-Third Amendment dated March 16, 2016 (the "Plan"), and should be read in conjunction with the Plan.

The terms of this Twenty-Fourth Amendment are as follows:

1. CERTIFICATE OF OCCUPANCY

A, A temporary certificate of occupancy has been issued for the Building. Attached hereto as Exhibit "A" is a copy of the temporary certificate of occupancy. The permanent certificate of occupancy ("PCO") has not yet been issued.

B. Sponsor has funded a PCO escrow account (the "PCO Escrow Account") from monies other than purchasers' deposits to secure its obligation to procure a PCO and to comply with GBL § 352-e(2-b) and 13 NYCRR §20.3(t)(13), in the amount of $2,000,000. Since the initial funding of the PCO Escrow Account, substantial work has been completed. Pursuant to the Twenty-First Amendment, the anticipated cost to procure the PCO as of December, 2015 was $1,000,000. Sponsor's architect has now certified that the anticipated cost to procure the PCO is $150,000, and the PCO Escrow Account will be reduced accordingly. Attached hereto as Exhibit "B" is a copy of the letter of Sponsor's architect certifying the foregoing.

2. INCORPORATION OF THE PLAN

l

The Plan, as modified and supplemented herein, is incorporated herein by reference with the same effect as if set forth in length. All provisions of the Plan which are consistent with this amendment shall remain in effect.

3. NO OTHER MATERIAL CHANGES

Except as set forth in this Amendment, there have been no material changes in the Plan.

4. DEFINITIONS

All capitalized terms expressly defined in this Amendment shall have the meanings given to them in the Plan.

SPONSOR:

51 st STREET MAIN LOT OWNER, LLC

2

EXHIBIT A

CURRENTTCO

of 4

Bulldlngs Certificate of Occupancy

CO Number: 104560235T009 This certifies that the premises described herein conforms substantially to the approved plans and specifications and to the requirements of all applicable laws, rules and regulations for the uses and occupancies specified. No change of use or occupancy shall be made unless a new Certificate of Occupancy is issued. This document or a copy shall be available for inspection at the building at all reasonable times.

A. Borough: Manhattan Block Number: 01344 Certificate Type: Temporary

Address: 305 EAST 51 STREET Lot Number(s): 7503 Effective Date: 04/07/2016

Building Identification Number (BIN): 1039675 Expiration Date: 07/06/2016

Building Type: New

For zoning lot metes & bounds, please see BISWeb.

B. Construction classification: 1-8 (2008 Code)

Building Occupancy Group classification: R-2 (2008 Code)

Multiple Dwelling Law Classification: HAEA

No. of stories: 32 Height in feet: 360 No. of dwelling units: 123

c. Fire Protection Equipment: None associated with this filing.

D. Type and number of open spaces: None associated with this filing.

E. This Certificate is issued with the following legal limitations: None

Outstanding requirements for obtaining Final Certificate of Occupancy:

There are 27 outstanding requirements. Please refer to BISWeb for further detail.

Borough Comments: None

Borough Commissioner Commissioner

DOCUMENT CONTINUES ON NEXT PAGE

of 4

Bull dings Certificate of Occupancy

CO Number: 1045602351009

Permissible Use and Occupancy All Building Code occupancy group designations are 1968 designations, except RES, COM, or PUB which

are 1938 Building Code occupancy group designations.

Building Maximum Live load Code Dwelling or

Floor persons lbs per occupancy Rooming Zoning From To permitted sq. ft. group Units use group Description of use

CEL 15 100 S-2 2 ACCESSORY ATTENDED OFF STREET PARKING FOR (8) CARS IN CONJUNCTION WITH SUBCELLAR

CEL 1 100 F-2 2 FIRE PUMP ROOM

CEL 3 100 S-2 2 TENANT STORAGE

CEL 2 100 F-2 2 SWITCHGEAR ROOM, WATER/STEAM ROOM, GAS METER ROOM, TEL.ROOM, BUILDING MAINTENANCE ROOM

CEL 8 100 R-2 2 STAFF LOUNGE

CEL 1 100 S-2 2 LAUNDRY ROOM

CEL 1 100 R-2 2 SUPER'S OFFICE

SUB 9 OG S-2 2 ACCESSORY ATTENDED OFF STREET PARKING FOR (8) CARS IN CONJUNCTION WITH CELLAR

001 3 100 R-2 2 LOBBY/CONCIERGE/MAIL ROOM

002 23 75 R-2 3 LIBRARY (ACCESSORY)

-003 40 R-2 8 2 (8) CLASS "A"APARTMENTS

004 40 R-2 8 2 (8) CLASS "A" APARTMENTS

004 40 S-2 2 TENANT STORAGE

--




CO Number:

Permissible Use and Occupancy

Page 3 of 4

104560235T009

All Building Code occupancy group designations are 1968 designations, except RES, COM, or PUB which are 1938 Building Code occupancy group designations.

Building Maximum Live load Code Dwelling or

Floor persons lbs per occupancy Rooming Zoning From To permitted sq. ft. group Units use group Description of use

005 1 100 S-2 2 TENANT STORAGE




'

· 007 40 R-2 6 2 (6) CLASS "A" APARTMENTS


007 40 R-2 0.5 2 LOWER HALF OF ONE CLASS "A" DUPLEX APARTMENT

008 40 R-2 0.5 2 UPPER HALF OF ONE CLASS "A" DUPLEX APARTMENT

008 40 R-2 1 2 LOWER HALF OF TWO CLASS "A" DUPLEX APARTMENTS


009 40 R-2 2 2 (2) CLASS "A" APARTMENT

009 40 R-2 1 2 UPPER HALF OF TWO CLASS "A" DUPLEX APARTMENTS

010 019 40 R-2 5 2 (5) CLASS "A" APARTMENTS PER FLOOR



of 4


CO Number: 104560235T009 .

Permissible Use and Occupancy All Building Code occupancy group designations are 1968 designations, except RES, COM, or PUB which

are 1938 Building Code occupancy group designations. Building

Maximum Live load Code Dwelling or Floor persons lbs per occupancy Rooming Zoning From To permitted sq. ft. group Units use group Description of use



031 40 R-2 1 2 LOWER HALF OF TWO CLASS "A" DUPLEX APARTMENTS

032 40 R-2 1 2 UPPER HALF OF TWO CLASS "A" DUPLEX APARTMENTS

RO 1 100 F-2 2 ELEVATOR MACHINE ROOM F

RO 2 100 F-2 2 MECHANICAL EQUIPMENT F

NOTE: THESE PREMISES HAVE BEEN DECLARED TO BE ONE ZONING LOT AS PER ZR 12-10 OF THE ZONING RESOLUTION CONSISTING OF LOTS 103, 48, 49, 50, 51 IN BLOCK 1344 AS RECORDED IN THE CITY REGISTER CRFN 2011000266964

END OF SECTION


END OF DOCUMENT 104560235/009 4nt2016 3:18:06 PM

EXHIBIT B

ARCHITECT'S LETTER

c: C3D ARCHITECTURE PLLC

51 st Street Main Lot Owner, LLC 600 Madison A venue New York, NY 10022

Dated: 5.19.16

Re: Certification Regarding Sponsor's Work and Costs to Obtain a Permanent Certificate of Occupancy for Halcyon Condominium ("Condominium") Offering Plan Filing No: CD 12-0232

Dear Sir/Madam:

The undersigned is the registered architect with respect to the development of the Condominium. 51 st Street Main Lot Owner, LLC ("Sponsor") has retained the undersigned to supply this certification regarding the remaining work and costs necessary for Sponsor to obtain a permanent certificate of occupancy ("PCO") from the Department of Buildings of the City of New York for the Condominium.

The undersigned hereby represents and warrants that it is a professional limited liability company of registered architects duly licensed in the State ofNew York.

This certification is being made specifically to be relied upon by (i) Holland & Knight LLP, as escrow agent, ("Escrow Agent"), and (ii) Sponsor.

FOUNDATION FORCER TIFICA TION

In rendering this certification, the undersigned represents that it has an adequate basis to form the opinions herein, and has considered the following:

1. the current state of construction of the Condominium, including all major building systems and components;

2. all documents related to the costs of outstanding construction work or sign-offs necessary to complete construction of the Condominium, including without limitation, The New York City Department of Buildings and its B-Scan List of Required Items.

3. all documents related to all soft costs necessary to procure the PCO for the Condominium;

4. all documents setting forth an estimated date for the procurement of the PCO for the Condominium;

5. all other reasonable and customary costs and fees likely to be incurred by Sponsor, including without limitation, all expeditors' fees and Department of Buildings fees, to procure a PCO from the Department of Buildings covering the entire Condominium; and

6. all other documents or instruments the undersigned deems necessary or appropriate for rendering this certification.

307 7th Avenue Suite 1407 New York, New York 10001 212 233 3100 T 212 233 3101 F

C3DArchitecture.com

C3D ARCHITECTURE PLLC

PROFESSIONAL OPINION

Based on the undersigned's examination, inspection and consideration of the foregoing, it is the undersigned's professional opinion that $150,000.00 is the reasonable cost of the work to obtain a PCO for the entire Condominium.

This professional opinion is limited to the matters stated herein. It is not intended as a guarantee or warranty of the physical condition of the Condominium or that construction and ministerial acts will be carried out.

CERTIFICATION

In addition to the foregoing, the undersigned certifies that:

(i) this letter affords Escrow Agent an adequate basis upon which to release that portion of purchasers' deposits and funds which are in excess of the amount set forth above, to Sponsor prior to the procurement of the PCO for the Condominium;

(ii) the amount set forth above is an amount which represents all reasonable costs and work necessary for Sponsor to procure a PCO for the entire Condominium;

(iii) the undersigned is not owned or controlled by and has no beneficial interest in Sponsor; and

(iv) the undersigned's compensation for preparing this letter is not contingent on the conversion of the property to a condominium or on the profitability or price of the offering.

Yours faithfully,

ARCHITECT:

C3D Architecture PLLC a New York Professional Limited Liability Company

By:

Acknowledged and accepted: 51 st Street Main Lot Owner, LLC

By: Name: Title:

307 7th Avenue Suite 1407 New York, New York 10001 212 233 3100 T 212 233 3101 F C3DArchitecture.com

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