Dovecote Condominium

Amendment 4 Sep 24, 2025

Fourth Amendment adds financing and lease options, appoints new selling agents, and updates unit prices.

• Sponsor may offer interest rate buy-downs up to ½ point through preferred lender American Financial Network, Inc.
• Sponsor may facilitate partial mortgage assignment with lender's consent; purchaser pays up to $3,000 attorney fee
• Sponsor may grant early possession under Interim Lease with rent and terms to be negotiated; downpayment may increase to 50%
• New selling agents: Amala Redd and Ronald Lense at Douglas Elliman Real Estate
• Updated offering prices for all units in Schedule A
• Schedule A prices decreased for 4 homes (median -6.3%): Unit Floor 2 $1,249,500 → $1,175,000; Unit Floor 3 $1,299,500 → $1,215,000; Unit Floor 4 $1,325,000 → $1,240,000; Unit Floor 5 $1,349,500 → $1,265,000

Amendment 3 2025

The plan's effectiveness was cancelled and will be redeclared; Schedule A and B were updated with corrected common interest percentages, monthly carrying costs, and budget details; declaration language on exclusive-use areas was revised; and passive house certification was added.

• Purchase agreement used to declare plan effective was cancelled; sponsor will file new amendment when in contract with bona-fide purchaser
• Schedule A corrected typographical error in Unit 1 common elements percentage and updated all monthly carrying costs
• Schedule B updated with revised budget projections for December 1, 2025 – November 30, 2026
• Declaration revised to specify exclusive-use vestibules, roof deck, terrace, and balconies by floor
• Passive house certification added as Exhibit C
• Schedule A prices decreased for 4 homes (median -15.6%): Unit Floor 2 $1,500,000 → $1,249,500; Unit Floor 3 $1,535,000 → $1,299,500; Unit Floor 4 $1,570,000 → $1,325,000; Unit Floor 5 $1,610,000 → $1,349,500

Amendment 2 Jun 23, 2025

Plan declared effective upon receipt of purchase agreement for one unit representing 15% of offered units.

• Plan declared effective as of June 23, 2025
• One unit (Unit 3) purchased on April 11, 2025 satisfies the 15% effectiveness threshold
• Purchaser must receive at least 30 days' prior written notice of closing date and time

Amendment 1 2025

Amendment updates closing timeline, removes and revises special risk disclosures, adds window shade costs, renames units, updates budget and Schedule A, and provides final architect's report and certificate of occupancy.

• First closing anticipated by July 1, 2025; building operations date moved from January 1, 2024 to July 1, 2025
• Rescission right if first closing occurs later than June 30, 2026
• Winder stairs confirmed code compliant; paragraph 2 of Special Risks removed
• Sponsors installing manual shades on south and east windows, floors 2-5 and penthouse; buyers pay $3,000 per unit at closing
• Passive House pre-certification noted; no guarantee building will achieve final certification
• Contingency reserve corrected to 7% of projected expenses in amended budget
• Units renamed: Garden Duplex becomes Unit 1, Penthouse becomes Unit 6
• Schedule A updated with new offering price, corrected square footage for Unit 1 and Unit 6, and updated carrying costs