10 Lenox Avenue Condominium

Amendment 9 Jan 29, 2020

Prices updated for two units in the offering plan.

• Unit 3E price set to $750,000.00
• Unit 5A price set to $920,000.00

Amendment 8 Dec 9, 2019

This amendment updates the substantial completion date to December 1, 2019, changes the managing agent to Monarch Realty Holdings LLC, updates the First Year Budget and property tax projections, and removes Licensed Storage Space #22 from the offering.

• Substantial completion date moved from July 1, 2019 to December 1, 2019
• First Unit Closing rescission deadline June 30, 2020 for pre-amendment purchasers; November 30, 2020 for post-amendment purchasers
• Managing agent changed to Monarch Realty Holdings LLC at $17,400 annual fee
• Licensed Storage Space #22 removed from offering and converted to building storage
• Reserve Fund increased from $9,202.00 to $9,335.50
• Property tax projections updated: $246,600 assessed value (Dec 1, 2019–June 30, 2020) with $18,413 taxes; $3,000,000 assessed value (July 1–Nov 30, 2020) with $160,000 taxes
• Post-construction assessed value increased approximately 13% from previous projection
• Schedule A prices increased for 1 home (median +2.9%): 6E $1,700,000 → $1,750,000

Amendment 7 Oct 31, 2019

Unit 6E purchase price changed to $1,750,000.00

Amendment 6 Sep 5, 2019

Prices updated for 8 unsold units.

• Unit 3D price set to $979,000.00
• Unit 3E price set to $735,000.00
• Unit 4A price set to $895,000.00
• Unit 5F price set to $825,000.00
• Unit 6F price set to $845,000.00
• Unit 7D price set to $1,575,000.00
• Unit PHA price set to $2,995,000.00
• Unit PHB price set to $3,195,000.00
• Schedule A prices increased for 8 homes (median +1.9%): 3D $950,000 → $979,000; 3E $715,000 → $735,000; 4A $885,000 → $895,000; 5F $815,000 → $825,000; ...

Amendment 5 Jun 14, 2019

Floor plans revised for as-built conditions, apartment designations changed from numbers to letters, and transfer tax disclosures updated for 2019 New York State changes.

• Floor plans updated to reflect as-built conditions with revised unit designations (e.g., 301 to 3A, 502 to 5B)
• Church shaft and duct shown as blue rectangle throughout building
• Community facility limited common elements reduced from 1988 to 1948 square feet
• 57 square foot terrace added to unit 4F on 4th floor
• Bulkhead layout altered with area increased by 48 square feet
• Unit 3B interior layout changed on 3rd floor
• Unit 7B closet reconfigured on 7th floor
• Transfer tax and mansion tax disclosure updated for March 31, 2019 New York State changes

Amendment 4 May 13, 2019

Fourth Amendment declares the plan effective, requires preferred lender preapproval and $200 offering plan deposit, adds window treatment restrictions, updates construction completion to July 1, 2019, and revises budget and property tax projections.

• Plan declared effective with 6 units (20%) presold
• All non-cash purchasers must obtain preapproval from Wells Fargo Home Mortgage (Brian Scott Cohen, 718.780.9132)
• $200 refundable deposit required to receive offering plan copy
• New house rule: window treatments facing public must be white only; terraces/balconies require board approval
• First Unit Closing projected for July 1, 2019 (changed from January 1, 2019)
• Rescission rights extended to December 31, 2019 for prior purchasers; June 30, 2020 for new purchasers
• Property tax assessment reduced from $1,218,600 to $246,600 (April 29, 2019)
• Estimated First Year R.E. Taxes: $182,836.00; Post-Construction R.E. Taxes: $327,514.00

Amendment 3 May 3, 2019

Price changes for seven units

• Unit 3D: $950,000.00
• Unit 4D: $975,000.00
• Unit 4E: $1,600,000.00
• Unit 5D: $995,000.00
• Unit 5E: $1,650,000.00
• Unit 6D: $1,050,000.00
• Unit 6E: $1,700,000.00
• Schedule A prices increased for 7 homes (median +4.8%): 3D $925,000 → $950,000; 4D $925,000 → $975,000; 4E $1,525,000 → $1,600,000; 5D $950,000 → $995,000; ...

Amendment 2 Apr 19, 2019

Prices updated for 8 unsold units.

• Unit 3B price: $725,000.00
• Unit 4A price: $885,000.00
• Unit 4C price: $1,600,000.00
• Unit 5A price: $905,000.00
• Unit 5C price: $1,650,000.00
• Unit 6A price: $925,000.00
• Unit 6C price: $1,700,000.00
• Unit 7A price: $965,000.00
• Schedule A prices increased for 8 homes (median +2.3%): 3B $715,000 → $725,000; 4A $865,000 → $885,000; 4C $1,500,000 → $1,600,000; 5A $885,000 → $905,000; ...

Amendment 1 Apr 1, 2019

Purchase prices established for 13 units.

• Unit 7B price set at $2,450,000.00
• Unit 7C price set at $1,950,000.00
• Unit 3A price set at $1,350,000.00
• Unit 3C price set at $1,050,000.00
• Unit 3D price set at $925,000.00
• Unit 4D price set at $925,000.00
• Unit 5D price set at $950,000.00
• Unit 6D price set at $980,000.00
• Schedule A prices increased for 13 homes (median +4.0%): 3A $1,325,000 → $1,350,000; 3C $1,025,000 → $1,050,000; 3D $865,000 → $925,000; 3E $685,000 → $715,000; ...