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Offering Plan - Book One

When Lincoln Towers converted from rental to a complex condominium/cooperative structure in 1987 the sponsor published nine offering plan books.  One of the books, Book Two, covered the overall complex.  Each of the eight buildings is covered by its own version of Book One.

The Board of 205 West End Avenue has undertaken to make the offering plan available on this website as a convenience to shareholders and potential shareholders.

The entire 773 pages of 205's Book One are available as a single document.  In addition, we have separated the PDF file into components representing specific subject areas from the original document.  This presentation, we hope, will make it as convenient as possible to investigate the contents of the Offering Plan.


Front CoverFront Cover
iITable of ContentsTable of Contents
ixISpecial RisksSpecial Risks

Title PageIntroduction
1INature of the Transaction
1IThe 351 Exchange with the Apartment Corporation
2IThe Offer of Shares of the Apartment Corporation
6IParking Spaces (Outdoor)
7IThe Offer of the Professional Units
7IFeatures of Cooperative Ownership
10IFeatures of Condominium Ownership
11IThe Offering Plan
12ILincoln Towers Community Association
14ISponsor's Retention of Air Rights
16IClosing Adjustments
22IPurchase Prices and Share Allocation - Schedule ASchedule A
42IBudget for first year of Cooperative operation - Schedule BSchedule B
50IBudget for first year of Condominium operation - Schedule CSchedule C
63IBudget for first year of Community Association Operation - Schedule DSchedule D
76IChanges in Prices and ApartmentsChanges in Prices and Apartments
78IOpinion of Reasonable RelationshipOpinions
82IAccountant's Certified Statements of Operation
92IAttorney's Income Tax Opinion
102IRights of Existing TenantsPurchasing and Non-Purchasing Tenants
107IObligations of Holders of Shares of Dwelling Units Occupied by Non-Purchasing Tenants
109IInterim Leases
110IProcedure to Purchase
115IAssignment of Subscription Agreements by Tenant-Purchasers
117IMaintenance Stipend for Tenant-Purchasers
120IVacant Apartment Exchange Offer
129IApartment Switch Offer
131IRelocation Allowance for Non-Purchasing Tenants
134IParking SpacesParking
141IGarage Leases
145IFinancing for Qualified Tenant-Purchasers - General, Citibank FinancingFinancing for Qualified Tenant-Purchasers
155IFinancing for Qualified Tenant-Purchasers - Sponsor Financing
157IEffective DateEffective Date
160ITerms of Mortgages - The Aetna MortgageTerms of Mortgages
170ITerms of Mortgages - The Purchase Money Mortgage
180ITerms of Mortgages - The Chase Mortgage
181ISummary of Proprietary LeaseSummaries
186ISummary of Certain Provisions of the Condominium Declaration and Condominium By-Laws
193IApartment CorporationApartment Corporation
197IUnsold SharesUnsold Shares
200IPurchasers for Investment or ResalePurchasers for Investment or Resale
201IWorking Capital FundFunds
202IReserve Fund
204IContract of ExchangeContract of Exchange
214IContract of Exchange
216IManagement Agreement, Contracts, and LeasesManagement Agreement, Contracts, and Leases
222IIdentity of PartiesIdentity of Parties
227ISponsor's ProfitSponsor's Profit
228IReports to ShareholdersReports to Shareholders
229IDocuments on FileDocuments on File
230IWork to be performed at the propertyWork to be performed at the property
235IGeneralGeneral Representations
238ISponsor's Statement of Present Building ConditionSponsor's Statement of Present Building Condition
Section II Title page
Section II Title Page
242IISubscription AgreementSubscription Agreement
254IIGains Tax Transferee FormGains Tax Transferee Form
256IINotice of RescissionNotice of Rescission
258IIAssignment and Assumption of Subscription AgreementAssignment and Assumption of Subscription Agreement
262IIAssignee's Statement of PurchaseAssignee's Statement of Purchase
264IIDescription of Property and Building ConditionDescription of Property and Building Condition
364IILocal Law 10 ReportLocal Law 10 Report
373IIProprietary Lease (and Cooperative House Rules)Proprietary Lease (and Cooperative House Rules)
416IICooperative House RulesCooperative House Rules
421IICooperative By-LawsCooperative By-Laws
439IICondominium DeclarationCondominium Declaration
469IICondominium By-LawsCondominium By-Laws
497IICommunity Association DeclarationCommunity Association Declaration
523IICommunity Association By-LawsCommunity Association By-Laws
535IIGeneral Business Law, Section 352-eeee and Administrative CodeApplicable Laws and Regulations
547IIApplicable Rent Regulations
549IILocal Law 70
557IIExchange Apartment SchedulesExchange Apartment
571IIExchange Apartment Application
573IISelection Meeting Power of Attorney
575IIExchange Apartment Surrender Agreement
581IISchedule of DHCR Proceedings
585IIRelocation Allowance Surrender Agreement
593IIInterim LeaseInterim Lease
603IINotice of Election Concerning Sponsor FinancingSponsor Financing
605IIPurchase Money Note
613IIPurchase Money Security Agreement
621IIRecognition Agreement
625IICollateral Assignment of Proprietary Lease
627IICollateral Stock Power
629IIMaximum Adjustment Agreement
631IIUCC-1 Financing Statement
633IIDisclosure Statement of Credit Sale
637IICommercial Properties Development StudyCommercial Properties Development Study
649IILincoln Towers Site PlanLincoln Towers Site Plan
655IIParking Site Plan205 West End Parking
659IISchedule of Parking Spaces
663IIParking Space Application
665IIParking Space Lease
669IIGarage Lease ApplicationGarage
671IIGarage Lease
677IICertification of Sponsor and PrincipalsCertifications
683IICertification of Sponsor's Engineer
689IICertification of Sponsor's Expert Concerning Adequacy of Budgets (Schedules B, C, and D)
693IICertification of Sponsor's Expert Concerning Adequacy of Common Charges
697IIIOffering for Sale of Professional UnitsProfessional Units
705IIIPurchase Prices and Other Financial Details for Professional Units - Schedule E
711IIITerms of Sale for Professional Units
721IIIPurchase Agreement for Professional Unit
747IIIProfessional Condominium Unit Deed
753IIISchedule A to Professional Condominium Unit Deed
755IIIFloor Plans of Professional Units