TWENTIETH AMENDMENT TO THE OFFERING PLAN
Premises:
FRANKLIN PLACE
5 Franklin Place a/k/a 371 Broadway
New York, NY 10013
This Amendment Modifies And Supplements The Terms Of
The Offering Plan Dated Approximately May 2, 2013, And
Should Be Read In Conjunction with Said Plan, as Amended.
1.
Pursuant to the terms of the Offering Plan and as disclosed in the Eighteenth Amendment
thereto (the "Eighteenth Amendment"), as of the First Unit Closing, the Sponsor elected to
pay the actual expenses of the operation of the Condominium in lieu of making payments
of monthly Common Charges. Unit Owners and Purchasers in contract are hereby advised
that, pursuant to Special Risk numbered 28 of the Offering Plan, commencing May 1,
2016, all Unit Owners, including Sponsor as to Unsold Units, shall pay the monthly
Common Charges as disclosed in the Offering Plan, as amended. This disclosure is in
accordance with the provision disclosed in said Special Risk numbered 28 that Sponsor
shall file an amendment to the Offering Plan at least thirty (30) days in advance of
commencing collection of monthly Common Charges.
2.
Pursuant to Geographic Target Order ("Order") issued on January 13, 2016 by the Director
of the Financial Crimes Enforcement Network ("FinCEN"), title companies are now
required to collect and report information regarding purchasers in transactions where: (1)
the purchaser is a legal entity as defined in the Order; (2) the purchaser purchases
residential real property located in the Borough of Manhattan in New York; (3) the total
purchase price is in excess of $3,000,000; (4) the purchaser does not obtain external
financing; and (5) the purchase is made at least in prui, using currency or a cashier's check,
a cetiified check, a traveler' s check, or a money order in any form. This affects all
residential real property closing occurring on or after March 1, 2016 and until the
expiration of the effective period of such Order (i.e., August 27, 2016, as of the date hereof,
which date is subject to change by FinCEN).
3.
The first temporary certificate of occupancy ("TCO") for certain Residential Units at the
Premises was issued by the Department of Buildings of the City of New York (the "DOB")
on December 4, 2015. The most recent TCO, which covers all Residential Units at the
Premises save for Units PHA, PHB, and PHC, was issued by the DOB on March 17,2016
and covers the period through June 15, 2016, a copy of which is attached hereto and made
a part hereof as Exhibit "A". As disclosed in the Eighteenth Amendment, at the First Unit
Closing, Sponsor escrowed $750,000.00 for the purpose of obtaining the permanent
certificate of occupancy (the "PCO") for the Building, pursuant to an architect's
G:\ReaiEslale\D'Agostino\PLANS\5 Plan\Amendme nts\20th Amendme nl\20th Amendment vJ.docx
certification letter dated December 7, 2015 from ODA-Architecture, P.C. ("ODA"). On
March 16, 2016, ODA issued an updated le tter which certifies a revised projected amount
of $375,000.00 in work necessary in order for Sponsor to obtain the PCO for the Building,
a copy of which is attached hereto and made a part hereof as Exhibit "B". Upon the date of
acceptance of this Amendment, Sponsor s hall reduce the amount of the escrow held to
match the $375,000.00 certified by ODA. Sponsor shall obtain the PCO within two (2)
years of the First Unit Closing.
4.
Except as herein defined, all capitalized terms used in this Amendment which are defined
in the Offering Plan, as amended, shall have the respective meaning ascribed to such terms
in the Offering Plan, as amended.
5.
The Offering Plan, as amended and supplem ented by this Amendment, is incorporated
herein by reference with the same force and effect as if set forth at length. This Amendment
governs and supersedes any inconsistency in the Offering Plan, as amended. This
Amendment does not extend the term of the Offering Plan, as amended.
2
G:\RealEstate\D'Agostino\PLANS\5 Plan\Amendments\20th Amendment\20th Amendment v3.docx
6.
There are no other material changes to the terms of the Offering Plan, as amended, except
those set forth in this Amendment.
Dated: _ _ _ _ _, 2016
Sponsor:
BROADWAY 371, LLC
By~Ji--
Sheara Arbit, Authorized Signatory
3
G:\ReaiEstate\D'Agostino\PLANS\5 Plan\Amendments\20th Am~ndment\20th Amendment v3.docx
Exhibit "A"
G:\ReaiEstate\O'Agostino\PLANS\5 Plan\Arnendments\20th Amendment\20th Amendment v3.docx
Page 1 of 4
Certificate of Occupancy
Buildings
CO Number:
1044028161004
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 th e 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:
00175
Certificate Type: Temporary
Address:
371 BROADWAY
Lot Number(s):
31
Effective Date:
03/17/2016
Expiration Date:
06/15/2016
Building Identification Number (BIN):
1001937
Building Type:
Altered
For zoning lot metes & bounds, please see 8/SWeb.
B.
c.
1-B
(1968 Code)
Building Occupancy Group classification: R-2
(2008 Code)
Construction classification:
Multiple Dwelling Law Classification:
HACA
No. of stories:
Height in feet:
19
210
No. of dwelling units: 48
Fire Protection Equipment:
Standpipe system, Fire alarm system, Sprinkler system
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 19 outstanding requirements. Please refer to BISWeb for further detail.
Borough Comments:
None
Borough Commissioner
Commissioner
DOCUMENT CONTINUES ON NEXT PAGE
Page 2 of 4
Certificate of Occupancy
Buildings
CO Number:
104402816T004
Permissible Use and Occupancy
A ll Bui lding 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
Floor
occupancy
persons lbs per
From To permitted sq. ft.
group
Dwelling or
Rooming
Zoning
Units
use group Description of use
CEL
5
OG
D-2
2
ELECTRICAL, GAS WATER METER ROOMS,
TELECOM ROOM, FIRE PUMP, MECHANICAL
ROOM
CEL
2
OG
B-2
2
BICYCLE STORAGE ROOMS FOR (30)
BICYCLES
CEL
3
OG
B-2
2
LAUNDRY ROOM
CEL
1
OG
E
2
SUPER'S OFFICE
001
2
100
J-2
2
RESIDENTIAL LOBBY, MAILROOM, PACKAGE
ROOM
002
11
40
c
6
RETAIL SPACE
002
40
J-2
4
2
FOUR(4)APARTMENTS
003
40
J-2
0.5
2
ONE-HALF (1/2) APARTMENT (LOWER LEVEL)
003
40
B-2
2
TENANT'S STORAGE ROOM
003
40
J-2
3
2
THREE(3)APARTMENTS
004
40
J-2
B-2
2
2
TWO (2) APARTMENTS, TENANT STORAGE
004
40
J-2
0.5
2
ONE-HALF (1 /2) APARTMENT (UPPER LEVEL)
40
J-2
2
ACCESSORY RECREATION ROOM
004
40
~z1
7
I.._.?
s?:~~
Borough Commissioner
Commissioner
DOCUMENT CONTINUES ON NEXT PA GE
Page 3 of 4
Certificate of Occupancy
Buildings
CO Number:
104402816T004
I
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
Dwelling or
Moxlmum Uve load Code
occupancy Rooming
Zoning
Floor
persons lbs per
Units
use group Description of use
group
From To permitted sq. ft.
i
005
40
J-2
B-2
2
2
TWO (2) APARTMENTS, TENANT STORAGE
005
40
J-2
0.5
2
ONE-HALF (1/2) APARTMENT (LOWER LEVEL)
006
40
B-2
2
TENANT'S STORAGE ROOMS
006
40
J-2
0.5
2
ONE-HALF (1 /2) APARTMENT (UPPER LEVEL)
006
40
J-2
2
2
TWO (2) APARTMENTS
40
J-2
2
ACCESSORY RECREATION ROOM
007
40
J-2
2
TWO (2) APARTMENTS
007
40
B-2
2
TENANT'S STORAGE ROOMS
007
40
J-2
0.5
2
ONE-HALF (1/2) APARTMENT (LOWER LEVEL)
008
40
J-2
3
2
THREE (3) APARTMENTS
008
40
J-2
0.5
2
ONE-HALF (1 /2) APARTMENT (UPPER LEVEL)
008
40
B-2
2
TENANT'S STORAGE ROOM
40
006
009
012
J-2
B-2
A/1
~
2
4
FOUR (4) APARTMENTS PER FLOOR,
STORAGE ROOM
¢:.J.-~
Commissioner
Borough Commissioner
DOCUMENT CONTINUES ON NEXT PAGE
Page 4 of 4
Certificate of Occupancy
Buildings
CO Number:
104402816T004
Permissible Use and Occupancy
A ll Building Code occupancy group designations are 1968 designations, except RES, COM, or PUB w hich
are 1938 B uild ing Code occupancy g r oup designations.
Building
Maximum Live load Code
Floor
persons lbs per
occupancy
gro up
From To permitted sq. ft.
013
40
B-2
013
40
J-2
014
40
B-2
014
40
J-2
015
40
01 6
Dwelling or
Rooming
Zoning
use group Description of use
Un its
2
TENANT'S STORAGE ROOM (14TH BLDG.
FLOOR)
2
FOUR (4) APARTMENTS (14TH BLDG. FLOOR)
2
TENANT'S STORAGE ROOM (15TH BLDG.
FLOOR)
3.5
2
(15TH BLDG.FLOOR) THREE (3) APARTMENTS
AND LOWER PORTION OF DUPLEX
J-2
1.5
2
(16TH BLDG. FLOOR) ONE (1) APARTMENT
AND UPPER PORT ION OF DUPLEX
40
J-2
2
2
TWO (2) APARTMENTS (17TH BLDG. FLOOR)
RO
F
100
D-2
2
COOLING TOWER, STAIR AND ELEV.
BULKHEADS, BOILER ROOM, ELECTRICAL
ROOM (BULKHEADS)
RO
F
100
D-2
2
ELEVATOR, MACHINE ROOM
4
NOTES: THESE PREMISES CONSIST OF TAX LOT #29, 30, & 9301. THEY HAVE BEEN DECLARED ONE SINGLE ZONING LOT TO BE
SUBJECT TO SECTION 12-10ZR. AS TO OWNERSHIP ZONING DECLARATION FILED TO BE RECORDED IN THE COUNTY CLERK'S
OFFICE CRFN#2007000145379 NOTE: THIS IS A QUALITY HOUSING DEVELOPMENT
END OF SECTION
'-
Borough Commissioner
Commissioner
END OF DOCUMENT
104402816/004 3/22/2016 1:55:15 PM
Exhibit "B"
G:\ReaiEstate\D'Agostino\PLANS\5 Plan\Amendments\20th Amendment\20th Amendment v3.docx
0)\
NEW
YORK
3.16.16
D'Agostino, Levine, Landesman & Lederman, LLP
345 Seventh Avenue, 23rd Floor
New York, New York 10001
Re:
Certification Regarding Sponsor's Work and Costs to Obtain a
Permanent Certificate of Occupancy for Franklin Place Condominium
("Condominium")
Offering Plan Filing No. 130014
Dear Sirs:
The undersigned is the r egistered architect of record with respect to the development of the
Condominium. Broadway 371, 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 registered architect duly
licensed in the State of New York.
This certification is being made specifically to be relied upon by (i) D'Agostino, Levine,
Landesman & Lederman, LLP, ("Escrow Agent"), and (ii) Sponsor.
FOUNDATION FOR CERTIFICATION
In rendering this certification, the undersigned represents that it has an adequate basis to
form the opinions herein, and has considered the following:
0
0
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' "8-Scan List of Required
Items";
3.
all documents related to all soft costs necessary to procure the PCO for the
Condominium;
O DA - A R C HI TE C T UR E .CO M
6 4 6 ·4 78 ·74 55
250 PAR I\ AVE H VE SO UTH . T H IRD flOO R, NEW YORII, N Y 10003
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N EW
Y O
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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.
PROFESSIONAL OPINION
Based on the undersigned's examination, inspection and consideration of the foregoing, it is
the undersigned's professional opinion that $375,000.00 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.
Cl) OOA · ARC H ITE C T URE. COM
646 · 478·7455
0
2 50 PA R K AV EN U E SOU TH , THIRD
r ~OO R .
I<E W YO RK, NY 10003
NEW
Acknowledged and accepted:
Broadway 371, LLC
By:
Name:
Title:
~
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CI)OOA·ARCHIT£ C TUR£ . COM
0 646·478·7455
250 PARK AVENUE SOUTH, TIHRD fLOOR, IICW YORK, IIY 10003
VORK