Alfred On Fleet Condominium

Amendment 4 Jun 30, 2022

Fourth amendment provides updates on occupancy certificates, first closing, financial accounts, unsold units, and sponsor control relinquishment.

• First unit closing occurred January 27, 2022
• Initial temporary certificate of occupancy issued November 30, 2021
• Latest temporary certificate of occupancy issued June 22, 2022
• Sponsor anticipates final certificate of occupancy by end of 2022
• Condominium declaration recorded January 13, 2022 (CRFN 2022000020901)
• Real estate taxes separately assessed by NYC Department of Finance on May 20, 2022
• Operating account has $9,496.90; reserve fund has $590.01
• Sponsor will relinquish board control July 26, 2022

Amendment 3 Dec 21, 2021

Construction completed with temporary certificate of occupancy issued; Unit 1A size revised; first-year budget and tax treatment updated.

• Temporary certificate of occupancy issued November 30, 2021
• Unit 1A size revised to 1,527.00 sq. ft.
• Schedule B first-year budget revised with reduced insurance and service contracts
• New York State transfer tax rate: 0.4% for units under $3,000,000; 0.65% for $3,000,000 or more
• Transfer tax excluded from consideration calculation as of July 1, 2021

Amendment 2 Apr 23, 2021

Amendment revises first closing date to July 1, 2021, sets condominium operation year as July 1, 2021 – June 30, 2022, reduces projected real estate taxes by 27.44%, and updates Schedule A and Schedule B accordingly.

• First closing anticipated by July 1, 2021; purchasers entitled to rescission if closing occurs after June 30, 2022 (12 months later)
• Condominium operation year begins July 1, 2021 and ends June 30, 2022
• Projected annual real estate taxes for first year: $220,469.00 (decreased 27.44% from initial disclosure)
• Assessed value of property estimated at $1,729,170.00 at tax rate of 12.75%
• Projected real estate taxes for 2022/2023: $274,042.00
• Schedule A revised with new commencement date and real estate taxes
• Schedule B budget total: $203,796.00 common charges for July 1, 2021 – June 30, 2022
• First year reserve fund: $20,379.00

Amendment 1 Mar 15, 2021

The offering plan is declared effective upon acceptance of purchase agreements for four residential units.

• Plan declared effective with four units sold (17.39% of residential units)
• Sponsor's attorney address changed to 114 Mulberry Street, 1st fl., New York, NY 10013
• Units 3B, 5B, 6A, and 6B purchase agreements accepted between January 27 and February 21, 2021