Acacia 118 Condominium

Amendment 6 2024

Amendment changes sponsor's attorney, modifies language about restricted spaces in certain units, and provides updated sponsor financial disclosures.

• Sponsor's attorney changed to Lester Shaw & Levy LLP at 45 Main Street, Suite 322 Brooklyn, NY 11201
• Recreation room restriction removed for Duplex 2 Unit (now applies only to Garden Unit and Duplex 3 Unit)
• Temporary Certificate of Occupancy issued January 5, 2024; Final Certificate of Occupancy anticipated July 1, 2024
• Working Capital Fund Account holds approximately $7,685.06 at Valley Bank
• Major Capital Improvement Replacement Reserve Fund Account holds approximately $944.00 at Webster National Bank
• Sponsor owns 2 unsold units (Duplex 2 and Commercial Unit) representing 32.82% of Common Interest
• Sponsor's annual Common Charge obligation for unsold units is $20,402.09
• Sponsor's real estate tax liability for fiscal year 2023/24 totals approximately $46,000.00

Amendment 5 Jan 10, 2024

Price of Unit Duplex 2 lowered, reducing total offering amount by $1,345,000.

• Unit Duplex 2 price lowered from $4,595,000 to $3,250,000
• Total offering amount decreased from $23,875,000.00 to $22,530,000

Amendment 4 October 2023

Amendment extends plan viability, discloses sponsor's new attorney and escrow bank, confirms first unit closing on May 15, 2023, and provides updated financial disclosures.

• Viability extended for six (6) months
• Sponsor's attorney changed to Lester Bleckner & Shaw LLP
• Escrow bank changed from Signature Bank to First Republic Bank
• First unit closing occurred on May 15, 2023 (Unit PH)
• Temporary Certificate of Occupancy issued October 10, 2023
• Final Certificate of Occupancy anticipated on or about July 1, 2024
• Sponsor owns 3 unsold residential units and 1 unsold commercial unit (74.9% of common interest)
• Sponsor's mortgage balance approximately $4,900,000 at 10% per annum

Amendment 3 Nov 9, 2022

Third amendment declares the offering plan effective upon acceptance, extending the offering term by six months from the amendment's filing date.

• Offering plan declared effective with 20% of units under purchase agreement
• Offering term extended six months from amendment filing date
• One penthouse unit purchased and counted toward effectiveness threshold

Amendment 2 Sep 7, 2022

This is an Amended & Restated Condominium Offering Plan (Second Amendment) for Acacia 118 Condominium at 118 East 1st Street, New York, establishing offering prices for 4 residential units totaling $20,275,000.00 and 1 commercial unit at $3,600,000.00, with total offering price of $23,875,000.00.

• Schedule A prices decreased for 1 home (median -8.0%): 2 $4,995,000 → $4,595,000

Amendment 1 Apr 15, 2022

Purchase prices changed for four residential units; total offering price is now $27,400,000.00.

• Unit 2 price: $5,500,000.00
• Unit 5 price: $5,450,000.00
• Unit 7 price: $5,650,000.00
• Unit PH price: $7,200,000.00
• Total offering price: $27,400,000.00