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12. The sponsor is not in control of the Board of Directors. The sponsor relinquished
control in January 1993.
13. The directors of the corporation are: Michael E. Troisi (who is a principal of the
sponsor), Devin Ratliff, Rachel Gross, Steven Lee and Jenny Halper (who are not
related to the sponsor). The officers of the corporation are:
Devin Ratliff President
Rachel Gross Vice-President
Steven Lee Vice-President
Jenny Halper Secretary
Michael E. Troisi Treasurer
14. The Actual Assessed Valuation for the property for the 2025/2026 tax year (July 1,
2025 to June 30, 2026) has been set at $2,828,250.00 and the Transitional
Assessed Valuation has been set at $2,445,500.00. Real Estate taxes for each
such year should be based on the Transitional Assessed Valuations. The tax rate
for the 2025/2026 tax year for this class of property is 12.500% of assessed
valuation.
15. Annexed hereto as Exhibit B is the certified financial statement for the building for
the years ending December 31, 2024 as prepared by Bezzina & Company, CPAs
LLC.
16. In prior years the apartment corporation adopted a budget for a fiscal year from July
1 to June 30 of each year. That practice has been discontinued and the apartment
corporation expects to adopt calendar year budgets in the future. To transition to
calendar year budgets the apartment corporation adopted a budget for the six month
period of July 1, 2025 to December 31, 2025 and a budget for the calendar year
January 1, 2026 to December 31, 2026. Both budgets are attached hereto.
17. Monthly maintenance charges are approximately $11.9616 per share as of July 1,
2025 which is expected by the apartment corporation to cover the combined budget
period of July 1, 2025 to December 31, 2026.
18. Purchase prices and monthly maintenance for the sponsor held apartments are as
follows:
Apt. Shares Purchase Price Maintenance
1B 105 $850,000.00 $1,255.97
2A 130 $750,000.00 $1,555.01
2C 90 $600,000.00 $1,076.54
4B 160 $950,000.00 $1,913.86
32nd Amendment - 77 Eastern Parkway, Brooklyn, New York 2
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Apt. Shares Purchase Price Maintenance
4C 90 $600,000.00 $1,076.54
5G 120 $850,000.00 $1,435.39
19. Sponsor represents that all material changes in facts or circumstances affecting the
property, or this offering are included in this amendment.
Dated:
EASTPARK APARTMENTS LLC
Sponsor
32nd Amendment - 77 Eastern Parkway, Brooklyn, New York 3
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77 East Owners Corp.
Budget
July 1, 2025 to December 31, 2026
Income 7/1/24-6/30/25 7/1/25 to 12/31/26 2026
Maintenance charges 520,483.00 $ 579,037.00 $ 579,037.00 $
Other income 5,000.00 $
Coop abatement assessment 51,544.00$ 53,495.00 $ 54,950.00 $
Laundry Income 3,500.00 $ 2,500.00 $ 2,500.00 $
------------------ ------------------
Total Income 580,527.00 $ 635,032.00 $ 636,487.00 $
Expenses
Superintendent 44,000.00 $ 44,000.00 $ 44,000.00 $
Heat & Hot Water 28,000.00 $ 27,500.00 $ 29,500.00 $
Mortgage payments 51,634.00 $ 52,134.00 $ 52,134.00 $
Real Estate Taxes 294,536.00 $ 305,688.00 $ 314,000.00 $
Water & Sewer 27,500.00 $ 23,750.00 $ 26,500.00 $
Repairs and Supplies 23,750.00 $ 36,576.00 $ 37,000.00 $
Management Fees 27,000.00 $ 27,000.00 $ 27,000.00 $
Insurance - Hazard 49,121.00 $ 55,944.00 $ 64,336.00 $
Insurance - Workers Comp 4,000.00 $ 4,000.00 $ 4,600.00 $
Accounting Fees 5,250.00 $ 6,500.00 $ 6,500.00 $
Corporate Taxes 1,000.00 $ 1,900.00 $ 1,900.00 $
Electric 6,000.00 $ 6,350.00 $ 6,650.00 $
Exterminator 2,000.00 $ 2,450.00 $ 2,450.00 $
Heat computer 1,750.00 $ 3,000.00 $ 3,000.00 $
Other 7,500.00 $ 9,120.00 $ 9,700.00 $
Contingency 7,486.00 $ 29,120.00 $ 7,217.00 $
------------------ ------------------
Total Expenses 580,527.00 $ 635,032.00 $ 636,487.00 $