Exhibit
10.3


 


THIRD AMENDMENT TO
AGREEMENT OF SUBLEASE (NYT)


 


 


By and Between


 


 


42ND ST. DEVELOPMENT PROJECT, INC.,


as Landlord


 


and


 


NYT REAL ESTATE
COMPANY LLC,


as Tenant


 


 


Premises:


 


 


Block:  1012


 


Lots:       1001, 1003, 1007, and 1009 through 1035          (formerly part of Lot 1)


 


Address


 


620-628 8th Avenue


263-267 and
241-261 West 40th Street


242-244 West 41st Street


231-235 West 40th Street


248-256, 260-262
and 268 West 41st Street


634 and 630-632 8th Avenue


 


Borough of
Manhattan


County, City and
State of New York


 


 


RECORD AND RETURN
TO:


 


DLA Piper LLP (US)


1251 Avenue of the
Americas


New York, New
York  10020

Attention:  Marc Hurel, Esq.


 

















 


THIRD
AMENDMENT TO AGREEMENT OF SUBLEASE (NYT)


 


THIS
THIRD AMENDMENT TO AGREEMENT OF SUBLEASE (NYT) (this “Amendment”)
is made as of the 6th day of March, 2009, by and between 42ND ST. DEVELOPMENT
PROJECT, INC. (“42DP”), a subsidiary of New York State Urban Development
Corporation (“UDC”) d/b/a Empire State Development Corporation (“ESDC”),
a corporate governmental agency of the State of New York constituting a
political subdivision and public benefit corporation, having an office at 633
Third Avenue, 33rd floor,
New York, New York 10017, as landlord (in such capacity, “Landlord”),
and NYT REAL ESTATE COMPANY LLC, a New York limited liability company, having
an office c/o The New York Times Company, 620 Eighth Avenue, New York, New York
10018, as tenant (in such capacity, “Tenant”).


 


W  I 
T  N  E 
S  S  E 
T  H  :


 


WHEREAS,
Landlord and The New York Times Building LLC (“NYTB”) entered into that
certain Agreement of Lease dated as of December 12, 2001, as amended by
letter dated April 8, 2004 (the “Initial Ground Lease”), with
respect to certain land and improvements more particularly described in the
Initial Ground Lease, a memorandum of which was recorded October 24, 2003
in the Office of the City Register of the City of New York (the “Office of
the City Register”) as CRFN 2003000433122;


 


WHEREAS,
NYTB, as landlord, entered into:


 


(a)           that certain Agreement of Sublease
(NYT) dated as of December 12, 2001 with NYT Real Estate Company LLC, as
tenant, a memorandum of which was recorded October 24, 2003 as CRFN
2003000433125 in the Office of the City Register (the “Initial NYTC Sublease”),  which Initial NYTC Sublease was amended by
First Amendment to Agreement of Sublease (NYT) dated as of August 15, 2006
between Landlord and Tenant and recorded in the Office of the City Register of
the City of New York on November 20, 2006 as CRFN 2006000644735 (the “First
Amendment”) and by Second Amendment to Agreement of Sublease (NYT) (the “Second
Amendment”) dated as of January 29, 2007 between Landlord and Tenant
and recorded in the Office of the City Register of the City of New York on February 22,
2007 as CRFN 2007000100157 (the Initial NYTC Sublease, as so amended and as
further amended by this Amendment, the “NYTC Sublease”);


 


(b)           that certain Agreement of Sublease
(Office) dated as of December 12, 2001 with FC Lion LLC (“FC Lion”),
as tenant, a memorandum of which was recorded October 24, 2003 as CRFN
2003000433123 in the Office of the City Register (the “Initial FC Office
Sublease”), the tenant’s interest in which Initial FC Office Sublease was
assigned to and assumed by FC Eighth Ave., LLC, a Delaware limited liability
company (“FC Eighth”) pursuant to that certain Assignment and Assumption
of Sublease Agreement dated as of August 15, 2006 between FC Lion, as
assignor, and FC Eighth, as assignee, and recorded in the Office of the City
Register of the City of New York on November 20, 2006 as CRFN
2006000644730, and which Initial FC Office Sublease was amended by First
Amendment to Agreement of Sublease (Office)


 

















 


dated as of August 15, 2006 between
Landlord and FC Eighth and recorded in the Office of the City Register of the
City of New York on November 20, 2006 as CRFN 2006000644733, by Second
Amendment to Agreement of Sublease (Office) dated as of January 29, 2007
between Landlord and FC Eighth and recorded in the Office of the City Register
of the City of New York on February 22, 2007 as CRFN 2007000100155, by
Third Amendment to Agreement of Sublease (Office) dated as of October 11,
2007 between Landlord and FC Eighth and recorded in the Office of the City
Register of the City of New York on January 8, 2008 as CRFN 2008000008732,
and by Fourth Amendment to Agreement of Sublease (Office) dated of even date
herewith and intended to be recorded in the Office of the City Register of the
City of New York (the Initial FC Office Sublease, as so assigned and amended,
the “FC Office Sublease”); and


 


(c)           that certain Agreement of Sublease
(Retail) dated as of December 12, 2001 with FC Lion, as tenant, a
memorandum of which was recorded October 24, 2003 as CRFN 2003000433124 in
the Office of the City Register (the “Initial FC Retail Sublease”), the
tenant’s interest in which Initial FC Retail Sublease was assigned to and
assumed by FC Eighth pursuant to that certain Assignment and Assumption of
Sublease Agreement dated as of August 15, 2006 between FC Lion, as
assignor, and FC Eighth, as assignee, and recorded in the Office of the City
Register of the City of New York on November 20, 2006 as CRFN
2006000644731, and which Initial FC Retail Sublease was amended by First
Amendment to Agreement of Sublease (Retail) dated as of August 15, 2006
between Landlord and FC Eighth and recorded in the Office of the City Register
of the City of New York on November 20, 2006 as CRFN 2006000644734, by
Second Amendment to Agreement of Sublease (Retail) dated as of January 29,
2007 between Landlord and FC Eighth and recorded in the Office of the City
Register of the City of New York on February 22, 2007 as CRFN
2007000100156, by Third Amendment to Agreement of Sublease (Retail) dated as of
October 11, 2007 between Landlord and FC Eighth and recorded in the Office
of the City Register of the City of New York on January 8, 2008 as CRFN
2008000008733, and by Fourth Amendment to Agreement of Sublease (Retail) dated
of even date herewith and intended to be recorded in the Office of the City
Register of the City of New York (the Initial FC Retail Sublease, as so
assigned and amended, the “FC Retail Sublease”);


 


WHEREAS, NYTB
submitted the Initial Ground Lease to a leasehold condominium structure
pursuant to Article 9-B of the Real Property Law of the State of New York;


 


WHEREAS, pursuant
to that certain Assignment and Assumption Agreement dated as of August 15,
2006 (being the “Lease Assignment Date” under the Initial Ground Lease) between
NYTB and Landlord (the “Assignment”), NYTB assigned to Landlord all of NYTB’s
right, title and interest in and to the Initial Ground Lease and the NYTC
Sublease, the FC Office Sublease and the FC Retail Sublease;


 


WHEREAS,
pursuant to the provisions of the Initial Ground Lease and the Assignment, the
Assignment did not cause a merger of the interests of landlord and tenant under
the Initial Ground Lease, which interests are and remain separate and distinct;


 


2

















 


WHEREAS, the
Initial Ground Lease was amended and restated pursuant to Amended and Restated
Agreement of Lease dated as of August 15, 2006 and recorded in the Office
of the City Register of the City of New York on November 20, 2006 as CRFN
2006000644736, which Amended and Restated Agreement of Lease was amended by
First Amendment to Amended and Restated Agreement of Lease dated as of January 29,
2007 and recorded in the Office of the City Register of the City of New York on
February 22, 2007 as CRFN 2007000100154;


 


WHEREAS,  Tenant has requested that Landlord agree, and
Landlord has agreed, to further amend the NYTC Sublease, inter alia, to
remove from the premises demised thereunder a portion of the NYTC Collective
Unit consisting of Units 21-A, 22-A, 23-A, 24-A, 25-A, 26-A and 27-A, together
their undivided percentage interest in the Common Elements, as more
particularly described on Exhibit A annexed hereto (the “New
NYTC Sublease Premises”);


 


WHEREAS,
simultaneously herewith Landlord and Tenant are entering into an Agreement of
Sublease (NYT-2), a memorandum of which is intended to be recorded in the
Office of the City Register immediately following the recording of this
Amendment, covering the New NYTC Sublease Premises (the “New NYTC Sublease”);


 


WHEREAS,
simultaneously herewith the Unit Owners (as defined in the Condominium
Declaration) are executing a Third Amendment to Declaration of Leasehold
Condominium for certain purposes; and


 


WHEREAS,
Landlord and Tenant desire to amend the NYTC Sublease for the purposes
hereinafter set forth.


 


NOW, THEREFORE,
in consideration of the foregoing and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows:


 


1.     Definitions.  All capitalized terms used herein without
definition shall have the meanings ascribed to them in the NYTC Sublease.


 


2.     New Definitions.  The following new defined terms are hereby
added to Article I of the NYTC Sublease:


 


“New NYTC Sublease”
means that certain Agreement of Sublease (NYT-2), dated as of March 6,
2009, a memorandum of which is intended to be recorded in the Office of the
City Register, covering the New NYTC Sublease Premises, as the same may
hereafter be amended and/or assigned, subject to any required consents
thereunder.


 


“New NYTC Sublease Premises”
means a portion of the NYTC Collective Unit (as defined in the Condominium
Declaration) consisting of Units 21-A, 22-A, 23-A, 24-A, 25-A, 26-A and 27-A,
together with their undivided percentage interest in the Common Elements and
the NYTC Limited Common Elements.


 


3

















 


3.     Modified Definitions.  The following defined terms set forth in the
NYTC Sublease are hereby modified as set forth below:


 


“Common Elements”
has the meaning set forth in the Condominium Declaration (it being acknowledged
that “Common Elements” shall not include any
FC Limited Common Elements, Retail Limited Common Elements or NYTC Limited
Common Elements (as such terms are defined in the Condominium Declaration), but
shall expressly include the Lobby Sublease Space).


 


“Demised Premises”
means a portion of the NYTC Collective Unit (as defined in the Condominium
Declaration) consisting of Units 0-A, 1-A, 1-E, 2-A, 3-A, 4-A, 5-A, 6-A, 7-A,
8-A, 9-A, 10-A, 11-A, 12-A, 13-A, 14-A, 15-A, 16-A, 17-A, 18-A, 19-A, 20-A,
28-A, together with their undivided percentage interest in the Common Elements
and the NYTC Limited Common Elements.


 


“FC”
means FC Eighth Ave., LLC, a Delaware limited liability company, its permitted
successors and assigns.


 


“FC Office
Sublease” means that certain Agreement of Sublease (Office) dated as
of December 12, 2001 with FC Lion LLC (“FC Lion”), as tenant, a
memorandum of which was recorded October 24, 2003 as CRFN 2003000433123 in
the Office of the City Register (the “Initial FC Office Sublease”), the
tenant’s interest in which Initial FC Office Sublease was assigned to and
assumed by FC Eighth Ave., LLC, a Delaware limited liability company (“FC
Eighth”) pursuant to that certain Assignment and Assumption of Sublease
Agreement dated as of August 15, 2006 between FC Lion, as assignor, and FC
Eighth, as assignee, and recorded in the Office of the City Register of the
City of New York on November 20, 2006 as CRFN 2006000644730, and which
Initial FC Office Sublease was amended by First Amendment to Agreement of Sublease
(Office) dated as of August 15, 2006 between Landlord and FC Eighth and
recorded in the Office of the City Register of the City of New York on November 20,
2006 as CRFN 2006000644733, by Second Amendment to Agreement of Sublease
(Office) dated as of January 29, 2007 between Landlord and FC Eighth and
recorded in the Office of the City Register of the City of New York on February 22,
2007 as CRFN 2007000100155, by Third Amendment to Agreement of Sublease
(Office) dated as of October 11, 2007 between Landlord and FC Eighth and
recorded in the Office of the City Register of the City of New York on January 8,
2008 as CRFN 2008000008732, and by Fourth Amendment to Agreement of Sublease
(Office) dated as of March 6, 2009 between Landlord and FC Eighth and intended
to be recorded in the Office of the City Register of the City of New York,
as the same may hereafter be amended and/or assigned, subject to any required
consents thereunder.


 


“FC Retail
Sublease” means that certain Agreement of Sublease (Retail) dated as
of December 12, 2001 with FC Lion, as tenant, a memorandum of which
was recorded October 24, 2003 as CRFN 2003000433124 in the Office of the
City Register (the “Initial FC Retail Sublease”), the tenant’s interest
in which Initial FC Retail Sublease was assigned to and assumed by FC Eighth
Ave., LLC, a Delaware


 


4

















 


 limited liability company (“FC
Eighth”) pursuant to that certain Assignment and Assumption of Sublease
Agreement dated as of August 15, 2006 between FC Lion, as assignor, and FC
Eighth, as assignee, and recorded in the Office of the City Register of the
City of New York on November 20, 2006 as CRFN 2006000644731, and which
Initial FC Retail Sublease was amended by First Amendment to Agreement of Sublease
(Retail) dated as of August 15, 2006 between Landlord and FC Eighth and
recorded in the Office of the City Register of the City of New York on November 20,
2006 as CRFN 2006000644734, by Second Amendment to Agreement of Sublease
(Retail) dated as of January 29, 2007 between Landlord and FC Eighth and
recorded in the Office of the City Register of the City of New York on February 22,
2007 as CRFN 2007000100156, by Third Amendment to Agreement of Sublease
(Retail) dated as of October 11, 2007 between Landlord and FC Eighth and
recorded in the Office of the City Register of the City of New York on January 8,
2008 as CRFN 2008000008733, and by Fourth Amendment to Agreement of Sublease
(Retail) dated as of March 6, 2009 between Landlord and FC Eighth and
intended to be recorded in the Office of the City Register of the City of New
York, as the same may hereafter be amended and/or assigned, subject to
any required consents thereunder.


 


“Lease”  means that certain Agreement of
Sublease (NYT) dated as of December 12, 2001 with Tenant, as tenant, a
memorandum of which was recorded October 24, 2003 as CRFN 2003000433125 in
the Office of the City Register (the “Initial NYTC Sublease”), which
Initial NYTC Sublease was amended by First Amendment to Agreement of Sublease
(NYT) dated as of August 15, 2006 between Landlord and Tenant and recorded
in the Office of the City Register of the City of New York on November 20,
2006 as CRFN 2006000644735, by Second Amendment to Agreement of Sublease (NYT)
(the “Second Amendment”) dated as of January 29, 2007 between
Landlord and Tenant and recorded in the Office of the City Register of the City
of New York on February 22, 2007 as CRFN 2007000100157, and by Third
Amendment to Agreement of Sublease (NYC) dated as of March 6, 2009 between
Landlord and FC Eighth and intended to be recorded in the Office of the City
Register of the City of New York, as the same may hereafter be amended
and/or assigned, subject to any required consents thereunder.


 


“Severance Subleases”
means this Lease, the New NYTC Sublease, the FC Office Sublease, the FC Retail
Sublease, any New Office Subleases (as defined in the FC Office Sublease) and
any new leases entered into pursuant to Section 31.6 of any of the
foregoing.


 


4.     Removal of New NYTC
Sublease Premises; Legal Description.  The New NYTC Sublease Premises are hereby
deleted from the premises demised under the NYTC Sublease, effective as of the
date hereof, it being the intention of the parties that the provisions hereof
and the New NYTC Sublease are not intended to constitute a surrender and
releasing of the New NYTC Sublease Premises, but merely the splitting of the
NYTC Sublease into two (2) separate leases.  “Exhibit A” to the Second
Amendment is hereby deleted and replaced in its entirety by the document
attached hereto as Exhibit A. 
All references to “Exhibit A” in the First Amendment and
Second Amendment shall be deemed to refer to the document attached hereto as Exhibit A.  Tenant shall remain liable under the NYTC
Sublease for all Charges and other 


 


5

















 


obligations which have accrued under the NYTC Sublease
with respect to the New NYTC Sublease Premises up to the date hereof; provided
that, Tenant (and its successors and assigns) 
as tenant under the NYTC Sublease, shall not have any obligations or
liabilities under the NYTC Sublease with respect to the New NYTC Sublease
Premises which accrue from and after the date hereof, it being the
understanding of the parties that Tenant (and its successors and assigns) as
tenant under the New NYTC Sublease, shall have all such obligations and
liabilities with respect to the New NYTC Sublease Premises.  Nothing herein shall be deemed to modify the
terms of Section 14.7 of the NYTC Sublease.


 


5.     Deletion of Roof Top
Garden Space Obligations. 
The Initial NYTC Sublease included obligations on the part of Tenant
with respect to the Roof Top Garden Space based on the assumption that the Roof
Top Garden Space would constitute part of the Common Elements.  However, pursuant to the Condominium
Declaration, the Roof Top Garden Space is designated as “Special FC Limited
Areas” and is not part of Common Elements. 
Accordingly, the parties hereby further amend the NYTC Sublease as
follows:


 


(a)   The defined terms “Budget Roof
Top Garden Construction Costs” and “Roof Top
Garden Adjusted Revenues”  are
hereby deleted in their entirety.


 


(b)   The definition of “Demised
Space” is hereby modified to delete the words “the Roof Top Garden
Space or”.


 


(c)   The definition of “Occupied
Square Foot” is hereby modified to delete clause (B) (i.e., the
words “with respect to the Roof Top Garden Space, each Rentable Square Foot
within the Roof Top Garden Space”).


 


(d)   The definition of “Retail PILOT”
is hereby modified by deleting clause (3) (i.e., the words “Tenant’s
Percentage Allocation of 10,000 Square Feet, representing the Roof Top Garden
Space”).


 


(e)   The definition of “Roof Top
Garden Space” is modified to read as follows: “Roof Top
Garden Space” shall mean up to 10,000 Square Feet of space on the
floor designated as the 52nd (Main Roof) floor of the Building, as shown on,
and in conformity with, the schematic design plan drawing listed on Exhibit I-1
attached to the Initial Ground Lease as numbered A1053.


 


(f)    Section 3.1(a)(i)(B)(2) is
modified to delete the phrase “or the Roof Top Garden Space”.


 


(g)   Section 3.2 is hereby modified by
deleting clause (iii) of Section 3.2(a) (i.e., the calculation
of Percentage Rent with respect to the Roof Top PILOT Space) and to delete all
references in Section 3.2 to “Roof Top Garden Adjusted Gross Revenues”.


 


(h)   Section 3.13 is modified to delete all
references to “Roof Top Garden Adjusted Gross Revenues”.


 


(i)    Sections 13.2(b)(i), 34.1(b), 34.2(b) and
34.2(d) are hereby deleted in their entirety.


 


6

















 


(j)    Section 34.1(c) is modified to
delete the phrase “and together with the Roof Top Garden Space, the ‘Common
Elements Leaseable Space’”.


 


6.     PILOMRT Modification.


 


(a)   The defined term “Exempted
Mortgage” is hereby deleted in its entirety.


 


(b)   The first sentence of Section 3.4(b) of
the NYTC Sublease is hereby deleted in its entirety and the following inserted
in lieu thereof:  “Prior to the recording
of any Mortgage with the Office of the Register of the City, New York County,
Tenant shall make a payment of PILOMRT to Landlord in an amount equal to an
amount equal to the Mortgage Recording Tax that would have been payable upon
the recording of such Mortgage if not for the exemption provided under Section 3.4(a) hereof.”


 


(c)   Section 3.18 of the NYTC Sublease is
hereby deleted in its entirety.


 


7.     Estoppel.  To Landlord’s knowledge, (a) Tenant has
fulfilled all of its obligations under the NYTC Sublease to date, (b) no Default or Event of Default (as each is defined in
the NYTC Sublease) by Tenant exists
under the NYTC Sublease and (c) Landlord
has no claims (including claims of off-set, defense or counterclaims) against
Tenant alleging Tenant’s default under the NYTC Sublease; provided, however, that Landlord has advised Tenant
that Tenant is not in compliance with its obligations to provide Landlord, for
Landlord’s review and approval in accordance with the terms of the NYTC
Sublease, with details relating to the design and programming of the flat
screen televisions installed by Tenant in lieu of retail signage (the “Signage
Obligations”) and Landlord reserves all rights and powers to enforce the
Signage Obligations and remedies with respect thereto.  Landlord has further advised Tenant that,
with respect to the “Prohibited Person” status of 620 Eighth NYT (NY) Limited
Partnership as a proposed transferee of the NYTC Sublease, Landlord’s knowledge
is limited to a search of the NYC Vendex database indicating that no “Caution”
or “Warrant” information was discovered.


 


8.     Recording.  Landlord and Tenant agree that Tenant shall
cause this Amendment to be recorded and that Tenant shall pay any transfer or
similar taxes that may be payable as a result of this Amendment.


 


9.     No Other Amendments.  As modified by this Amendment, the NYTC
Sublease remains in full force and effect.


 


[the remainder of this page is
intentionally blank]


 


7

















 


IN
WITNESS WHEREOF, Landlord and Tenant have executed this
Amendment as of the day and year first written above.


 


	
   

  	
  LANDLORD:

  
	
   

  	
   

  
	
   

  	
  42ND ST. DEVELOPMENT
  PROJECT, INC., as Landlord

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Naresh Kapadia

  
	
   

  	
   

  	
  Name: Naresh Kapadia

  
	
   

  	
   

  	
  Title: Assistant VP, Planning and Design

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TENANT:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NYT REAL ESTATE COMPANY
  LLC, a New York limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Kenneth A. Richieri

  
	
   

  	
   

  	
  Name:
  Kenneth A. Richieri

  
	
   

  	
   

  	
  Title:
  Manager

  



 


8

















 


ACKNOWLEDGMENTS


 


STATE OF NEW YORK      )

                                               )        ss.:

COUNTY OF NEW YORK  )


 


On the     
day of             
in the year 2009, before me, the undersigned, a Notary Public in and for said
State, personally appeared                             ,
personally known to me or proved to me on the basis of satisfactory evidence to
be the individual whose name is subscribed to the within instrument and
acknowledged to me that   he executed the same in h  
capacity, and that by h     signature on the instrument,
the individual, or the person upon behalf of which the individual acted,
executed the instrument.


 


 


	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Notary
  Public

  
	
   

  	
   

  	
   

  	
  Commission
  Expires

  



 


 


STATE OF NEW YORK      )

                                               )        ss.:

COUNTY OF NEW YORK  )


 


On the     
day of             
in the year 2009, before me, the undersigned, a Notary Public in and for said
State, personally appeared                             ,
personally known to me or proved to me on the basis of satisfactory evidence to
be the individual whose name is subscribed to the within instrument and
acknowledged to me that   he executed the same in h  
capacity, and that by h     signature on the instrument,
the individual, or the person upon behalf of which the individual acted,
executed the instrument.


 


 


	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Notary
  Public

  
	
   

  	
   

  	
   

  	
  Commission
  Expires

  



 


9

















 


EXHIBIT A


 


LEGAL
DESCRIPTION


 


The Condominium Units (in the Building located at and known as THE NEW YORK TIMES BUILDING
CONDOMINIUM and by Street Number 620-628 8TH AVENUE, NEW YORK, NEW YORK),
designated and described as Units (SEE SCHEDULE ANNEXED) (hereinafter called
the “Units”) in the Declaration Establishing
a Plan of Leasehold Condominium Ownership of Premises made by The New York
Times Building LLC, as Declarant, under the Condominium Act of The State of New
York (Article 9-B of the Real Property Law of the State of New York),
dated as of August 4, 2006 and recorded August 15, 2006 in the Office
of the Register The City of New York (the “Register”), as
CRFN 2006000460293, as amended by First Amendment to Declaration dated January 29,
2007 and recorded as CRFN 2007000075106, and Second Amendment to Declaration
dated October 11, 2007 and recorded as CRFN 2008000008734, and Third
Amendment to Declaration dated March 6, 2009 and to be recorded with the
Register (which Declaration, and any further amendments thereto, are
hereinafter collectively called the “Declaration”),
establishing a plan for leasehold condominium ownership of said Building and
the land upon which the same is erected (hereinafter sometimes collectively
called the “Property”) and also designated and
described as Tax Lots No. (SEE SCHEDULE ANNEXED), Block 1012 Section 4,
Borough of MANHATTAN on the Tax Map of the Real Property Assessment Department
of the City of New York and on the floor plans of said Building certified by
Daniel Kaplan, approved by the Real Property Assessment Bureau on August 13,
2006 and filed as Condominium Plan No. 1595 on August 15, 2006 in the
aforesaid Register’s Office.


 


The land upon which the Building containing
the Units is erected as follows:


 


ALL that certain plot, piece or parcel of
land, situate, lying and being in the Borough of Manhattan, County of New York,
City and State of New York, bounded and described as follows:


 


BEGINNING at the corner formed by the
intersection of the northerly line of West 40th Street with the easterly line
of 8th Avenue,


 


RUNNING THENCE northerly along said easterly
line of 8th Avenue, 197 feet 6 inches to the corner formed by the intersection
of the easterly side of 8th Avenue with the southerly line of West 41st Street;


 


THENCE easterly along said southerly line of
West 41st Street, 400 feet;


 


THENCE southerly and parallel to said
easterly line of 8th Avenue, 197 feet 6 inches to the northerly line of West
40th Street;


 


THENCE westerly along said northerly line of
West 40th Street, 400 feet to the point or place of BEGINNING,


 


TOGETHER with an undivided percentage
interest (SEE SCHEDULE ANNEXED) in the Common Elements and the NYTC Limited
Common Elements (as such terms are defined in the 


 

















 


Declaration) of the New York Times Building
Condominium, recorded as CRFN 2006000460293 as amended.


 


10

















 


SCHEDULE
OF UNITS


 


	
  UNIT DESIGNATION

  	
   

  	
  TAX LOT

  	
   

  	
  PERCENTAGE INTEREST 

  IN COMMON ELEMENTS

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  0-A

  	
   

  	
  1001

  	
   

  	
  0.6627%

  
	
  1- A

  	
   

  	
  1003

  	
   

  	
  2.0132%

  
	
  1-E

  	
   

  	
  1007

  	
   

  	
  0.0691%

  
	
  2-A

  	
   

  	
  1009

  	
   

  	
  4.7805%

  
	
  3-A

  	
   

  	
  1010

  	
   

  	
  4.7579%

  
	
  4-A

  	
   

  	
  1011

  	
   

  	
  4.5636%

  
	
  5-A

  	
   

  	
  1012

  	
   

  	
  1.6352%

  
	
  6-A

  	
   

  	
  1013

  	
   

  	
  1.7325%

  
	
  7-A

  	
   

  	
  1014

  	
   

  	
  1.7325%

  
	
  8-A

  	
   

  	
  1015

  	
   

  	
  1.7325%

  
	
  9-A

  	
   

  	
  1016

  	
   

  	
  1.7325%

  
	
  10-A

  	
   

  	
  1017

  	
   

  	
  1.7325%

  
	
  11-A

  	
   

  	
  1018

  	
   

  	
  1.7325%

  
	
  12-A

  	
   

  	
  1019

  	
   

  	
  1.7325%

  
	
  13-A

  	
   

  	
  1020

  	
   

  	
  1.7325%

  
	
  14-A

  	
   

  	
  1021

  	
   

  	
  1.7440%

  
	
  15-A

  	
   

  	
  1022

  	
   

  	
  1.3998%

  
	
  16-A

  	
   

  	
  1023

  	
   

  	
  1.7484%

  
	
  17-A

  	
   

  	
  1024

  	
   

  	
  1.7207%

  
	
  18-A

  	
   

  	
  1025

  	
   

  	
  1.7711%

  
	
  19-A

  	
   

  	
  1026

  	
   

  	
  1.7711%

  
	
  20-A

  	
   

  	
  1027

  	
   

  	
  1.7711%

  
	
  28-A

  	
   

  	
  1035

  	
   

  	
  0.4446%

  



 


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