PDF page 2
2
(payment obligations, interest rate and maturity da te) are disclosed in paragraph 8 of
this Amendment.
E. Sponsor expects to meet all its financial obliga tions under the Plan from sales
proceeds and rental income from its apartments. If sales or rental income is
insufficient, Sponsor has adequate other resources to meet its obligations.
F. The Sponsor is current on all its financial obli gations under the Plan, including
maintenance charges. Sponsor has been current on a ll of the aforementioned
maintenance and mortgage obligations since the filing of the 34th Amendment. .
G. To date, the Sponsor, affiliates and/ or princip als of the Sponsor currently own more
than ten (10%) percent of the shares in one or more of the cooperative apartment
buildings set forth on Exhibit “3” attached to the Amendment. The sponsors of the
offering plans for buildings set forth in Exhibit “ 3” are current on all of their financial
obligations under their respective offering plans. Offering plans for these buildings
are on file with the Department of Law and are available for public inspection.
H. The Board of Directors of the Apartment Corporat ion consists of five members; the
last annual meeting of shareholders was on November 16, 2023. The directors are
Luan Ndreshaj,
(Sponsor designee), Esther Akinsanya, (President), Stuart Halper ( Assistant Secretary,
Vice President of Managing Agent), Penny Rodney (Tr easurer) and Yizhou Jian (
Secretary). Pursuant to the terms of the Plan, th e Sponsor relinquished control of the
Board of Directors on July 25, 1995.
5 Shares Held by Sponsor.
Schedule “A” lists the Unsold Shares (as defined in the Plan) allocated to apartments owned
by the Sponsor as of the date of this Amendment. No Unsold Shares are owned by any person
or entity other than Sponsor. The Sponsor currentl y owns 25,395 unsold shares which are
allocated to 51 apartments, which constitute 40.57% of the outstanding shares of the
Apartment Corporation.
6. Managing Agent.
The Apartment Corporation continues to retain the f irm of Impact Real Estate Management
Inc., 30-30 Northern Boulevard, Suite 402, Long Isl and City, New York 11101, a
management company which is not affiliated with the Sponsor, as the managing agent on a
month- to- month basis. Tenant-shareholders can review a copy of the management
agreement upon request to the Board of Directors.
7. . Mortgage
On June 15, 2020, the Apartment Corporation refinan ced the underlying mortgage with
National Cooperative Bank 2011 Crystal Drive, Suite 800, Arlington, Virginia 22202. The
material terms of the underlying mortgage are as follows:
Principal - $4,600,000
Term - ten (10) years
Maturity Date - July 1, 2030
PDF page 5
6/24/2026 EXHIBIT 1
Share Offering Price Annual Maintenance Monthly Maintenance
Apt. Allocation @ $700.00 / share Charges@ $23.69/share Charges@ $1.9737/share
2L 520 $364,000.00 $12,316.46 $1,026.37
2M 588 $411,600.00 $13,927.07 $1,160.59
2W 520 $364,000.00 $12,316.46 $1,026.37
2Y 664 $464,800.00 $15,727.17 $1,310.60
3C 594 $415,800.00 $14,069.19 $1,172.43
3E 594 $415,800.00 $14,069.19 $1,172.43
3M 594 $415,800.00 $14,069.19 $1,172.43
3T 525 $367,500.00 $12,434.89 $1,036.24
4E 600 $420,000.00 $14,211.30 $1,184.27
4W 530 $371,000.00 $12,553.32 $1,046.11
6D 706 $494,200.00 $16,721.96 $1,393.50
6E 612 $428,400.00 $14,495.53 $1,207.96
6L 540 $378,000.00 $12,790.17 $1,065.85
6T 540 $378,000.00 $12,790.17 $1,065.85
6Y 696 $487,200.00 $16,485.11 $1,373.76
7D 714 $499,800.00 $16,911.45 $1,409.29
7L 545 $381,500.00 $12,908.60 $1,075.72
7T 545 $381,500.00 $12,908.60 $1,075.72
7W 545 $381,500.00 $12,908.60 $1,075.72
SUBTOTAL: 11,172 $7,820,400.00 $264,614.41 $22,051.18
Share Offering Price Annual Maintenance Monthly Maintenance
Apt. Allocation @ $700.00 / share Charges@ $23.69/share Charges@ $1.9737/share
2B 445 $311,500.00 $10,540.05 $878.34
3A 450 $315,000.00 $10,658.48 $888.21
4B 455 $318,500.00 $10,776.90 $898.07
5B 460 $322,000.00 $10,895.33 $907.94
2G 440 $308,000.00 $10,421.62 $868.47
2J 445 $311,500.00 $10,540.05 $878.34
2R 450 $315,000.00 $10,658.48 $888.21
2S 450 $315,000.00 $10,658.48 $888.21
3G 445 $311,500.00 $10,540.05 $878.34
3N 450 $315,000.00 $10,658.48 $888.21
4S 460 $322,000.00 $10,895.33 $907.94
5G 455 $318,500.00 $10,776.90 $898.07
6G 460 $322,000.00 $10,895.33 $907.94
7J 470 $329,000.00 $11,132.19 $927.68
7N 470 $329,000.00 $11,132.19 $927.68
4V 295 $206,500.00 $6,987.22 $582.27
5V 298 $208,600.00 $7,058.28 $588.19
2U 294 $205,800.00 $6,963.54 $580.29
3U 297 $207,900.00 $7,034.59 $586.22
2P 374 $261,800.00 $8,858.38 $738.20
2F 364 $254,800.00 $8,621.52 $718.46
2K 369 $258,300.00 $8,739.95 $728.33
3F 367 $256,900.00 $8,692.58 $724.38
3K 372 $260,400.00 $8,811.01 $734.25
4F 370 $259,000.00 $8,763.64 $730.30
5F 373 $261,100.00 $8,834.69 $736.22
7K 384 $268,800.00 $9,095.23 $757.94
7P 389 $272,300.00 $9,213.66 $767.80
SUBTOTAL: 11,351 $7,945,700.00 $268,854.11 $22,404.49
Schedule A 35th Amendment
Unsold Apartments at 3500 Snyder Ave.
Page 1 of 2