111 Steuben Street Condominium (The Absolute)

Amendment 9 Jan 13, 2012

Maximum sales prices of residential units 6A and 6B increased.

• Unit 6A price increased to $1,900,000.00
• Unit 6B price increased to $950,000.00
• Schedule A prices increased for 5 homes (median +10.0%): 2G $440,000 → $540,000; 5B $480,000 → $490,000; 5G $760,000 → $830,000; 6C $500,000 → $550,000; ...
• Schedule A prices decreased for 7 homes (median -0.7%): 2B $468,000 → $466,000; 2F $485,000 → $465,000; 2H $436,000 → $435,000; 3A $685,000 → $680,000; ...

Amendment 8 Dec 22, 2010

The amendment extends the term of the offering plan with no other changes to terms and conditions.

Amendment 7 Feb 16, 2010

Amendment discloses first closing completed, permanent certificate of occupancy issued, declaration recorded, sponsor's retained units and financing, board composition, and 2010 operating budget.

• First closing of Units 3H & P17 took place April 2, 2009
• Permanent certificate of occupancy issued June 23, 2009
• Declaration of Condominium recorded January 8, 2009 at CREN 2009000005823
• Sponsor owns 2 community spaces, 31 residential units, 27 parking units; monthly common charges total $21,826.57, monthly taxes $1,303.66
• Sponsor mortgage with China Trust Bank: principal balance $8,500,000.00, monthly interest payment $6,500.0
• 2010 operating budget projects income of $290,054.00 from common charges
• Purchasers with contract date prior to April 10, 2008 may rescind within 30 days after amendment presentation

Amendment 6 Feb 17, 2009

Corrections to unit square footage and bathroom count in Schedule A.

• Unit 3G square footage corrected to 684 square feet
• Unit 3H square footage corrected to 684 square feet
• Unit 6A bathrooms corrected from 3 to 2

Amendment 5 Aug 7, 2008

Amendment confirms the offering plan declared effective on August 6, 2008, after 15% of units received purchase agreements.

• Offering Plan declared effective as of August 6, 2008
• Six residential units have executed purchase agreements by bona fide purchasers
• Purchase agreements represent 17% of the 35 dwelling units in the building
• First year of condominium operation scheduled to begin November 1, 2008
• No changes to the first year budget

Amendment 4 May 27, 2008

Maximum sales prices of units increased as reflected in amended Schedule E.

• Maximum sales prices of units increased
• Schedule E amended to reflect new pricing
• Schedule A prices increased for 29 homes (median +4.6%): 2A $653,000 → $695,000; 2B $445,000 → $468,000; 2C $660,000 → $690,000; 2D $630,000 → $670,000; ...
• Schedule A prices decreased for 1 home (median -12.0%): 2G $500,000 → $440,000

Amendment 3 Apr 7, 2008

Amendment extends the offering plan term and sets the first year of condominium operation to begin July 1, 2008.

• Offering plan term extended
• First year of condominium operation scheduled to begin July 1, 2008

Amendment 2 Jan 14, 2008

Maximum sales prices of units increased per amended Schedule E.

• Increased selling prices for residential units
• Updated Schedule A with new unit prices and carrying costs
• No other changes to terms and conditions of offering

Amendment 1 Nov 7, 2007

Real estate tax estimates, operating budget, and unit specifications corrected; commercial ICIP tax benefits added to Schedule A.

• Real estate tax estimates revised to include ICIP program for commercial units
• Budget revised to include cost of heat and hot water in monthly common charges
• Vented hoods replaced with recirculating hoods in units
• Half bath removed from Unit 6A
• Building description corrected: cellar and six stories
• Zoning corrected to R6/C2-3