Patagonia

Amendment 7 Jun 14, 2024

Pet weight limits added to house rules, 28 residential units and 15 storage spaces remain unsold with updated pricing, and offering plan validity extended.

• Domesticated dogs limited to 25 pounds or less in units
• Pit bull terriers prohibited without Board written permission
• 28 residential units unsold, ranging from $699,000 to $2,750,000
• 15 storage space licenses unsold
• Aggregate monthly common charges for unsold units: $26,915.51
• Aggregate monthly estimated real estate taxes for unsold units: approximately $48,547.55
• Plan validity extended 6 months from Department of Law acceptance

Amendment 6 Dec 22, 2023

Schedule B corrected for common interest percentage; first unit closing occurred December 8, 2023 with $20,000 escrowed for permanent certificate of occupancy; 30 units remain unsold with pricing and common charges listed.

• Schedule B corrected for typographical error in common interest percentage total
• First unit closing (4D) occurred in escrow on December 8, 2023
• $20,000.00 escrowed by Sponsor for permanent certificate of occupancy
• Temporary certificate of occupancy issued October 10, 2023, valid through January 8, 2024
• Sponsor must obtain permanent certificate of occupancy within two (2) years of first unit closing
• Declaration of Condominium recorded November 21, 2023 as CRFN 2023000306511
• Working Capital Fund established with $989.56 as of amendment date
• 30 residential units remain unsold with prices ranging from $699,000.00 to $2,750,000.00

Amendment 5 2023

Plan declared effective with five units sold, Schedule B corrected for unit square footage, and plan extension granted.

• Offering Plan declared effective (5 units purchased, over 16% threshold met)
• Schedule B revised to correct unit square footage measurements
• Plan effectiveness period extended six (6) months from amendment acceptance

Amendment 4 Aug 22, 2023

Selling agent changed to Douglas Elliman Real Estate; unit prices revised; total offering price now $42,676,000.00

• Selling agent changed to Douglas Elliman Real Estate, 575 Madison Avenue, 4th Floor, New York, New York 10022
• Unit offering prices revised: Unit 3A $849,000, Unit 4D $669,000, Unit 5C $1,339,000, Unit 6B $1,410,000, Unit 7C $1,699,000, Unit 8B $1,634,000, Unit 8C $1,730,000, Unit 10C $1,469,000, Unit 11A $1,295,000
• Total Purchase Price of Offering revised to $42,676,000.00
• Plan effective period extended six (6) months from acceptance date by Department of Law of the State of New York
• Schedule A prices decreased for 14 homes (median -5.1%): 3A $895,000 → $849,000; 4A $775,000 → $749,000; 4C $1,395,000 → $1,349,000; 4D $755,000 → $669,000; ...

Amendment 3 Jul 14, 2023

Purchasers of four units are offered rescission rights because first closing did not occur by June 30, 2023.

• Rescission right offered to purchasers of units 4C, 5A, 6A, and 6B
• First unit closing has not yet occurred; originally projected for July 1, 2022
• Purchasers may rescind by returning rescission form within 15 days of amendment presentation
• Sponsor will return down payment deposit and accrued interest to purchasers who rescind
• Purchasers may waive rescission rights by returning waiver form within 15 days

Amendment 2 Apr 20, 2023

Second amendment revises unit prices, adds storage space licenses on the 3rd floor, updates law firm name, and reflects temporary certificate of occupancy issued March 1, 2023.

• Total offering price now $43,256,500.00
• Seven residential units have revised prices ranging from $675,000 to $1,499,000
• 16 storage spaces added on 3rd floor priced from $15,000 to $35,000
• Temporary certificate of occupancy issued March 1, 2023 (CO Number: 1051432-0000001)
• Counsel to Sponsor law firm name changed to D'Agostino, Lederman, Landesman, Rivera & Miraglia, LLP
• Schedule A completely replaced with revised unit prices and real estate taxes
• By-laws amended to permit virtual meetings per New York State law S7278/A8185
• 3rd floor common elements floor plans revised to show storage spaces

Amendment 1 Jun 16, 2022

Law firm name and address updated, Schedule A unit common charges revised, by-laws amended for mortgagee notice, budget revised for actual costs, lobby and super services defined, and new managing agent appointed.

• Law firm changed to D'Agostino, Levine, Landesman, Lederman, Rivera & Miraglia, LLP at 9 East 40th Street, 5th Floor, New York, New York 10016
• Unit common charges in Schedule A revised to match updated budget
• Budget revised for First Year of Condominium Operation (July 1, 2022 – June 30, 2023) based on actual costs
• Lobby attended 12 hours daily, 7 days a week (approximately 8:00 am to 8:00 pm)
• Part-time non-resident super available at least 20 hours per week
• Managing Agent changed to MD Squared Property Group, LLC at 801 Second Avenue, Suite 404, New York, New York 10017
• By-laws Section 2 of Article VII amended to require notice to mortgagees and guarantors of default uncured after 60 days
• Building structure nearly completed as of amendment date