137 Carlton Avenue Condominium

Amendment 2 May 10, 2023

Plan declared effective based on execution of purchase agreement for one unit representing approximately 16% of six units offered.

• Plan declared effective
• One unit (Unit 5A) purchased as of April 21, 2023
• Unit represents approximately 16% of six units offered

Amendment 1 Aug 1, 2022

First Closing date moved to January 1, 2023; offering prices updated; budget and tax projections revised for new commencement date.

• First Closing projected date changed to January 1, 2023
• Unit prices updated: 1A $1,350,000, 1B $1,800,000, 2A $1,500,000, 3A $1,625,000, 4A $1,750,000, 5A $1,800,000
• First-year real estate taxes projected at $59,806.00
• Post-completion assessed valuation projected at approximately $748,971.00 with estimated taxes of approximately $91,637.00
• Schedule B budget revised to $38,677 for year January 1, 2023 – December 31, 2023
• Transfer tax law change: NYS taxable consideration now includes purchase price plus NYC transfer taxes paid (not both NYS and NYC transfer taxes)
• No units currently under contract or closed
• Schedule A prices increased for 3 homes (median +3.4%): 2A $1,450,000 → $1,500,000; 4A $1,675,000 → $1,750,000; 5A $1,750,000 → $1,800,000