145 Ludlow Condominium

Amendment 6 Dec 8, 2022

Sixth amendment updates sponsor ownership, board members, financial disclosures, and fund balances for the 145 Ludlow Condominium.

• Sponsor owns 2 unsold units with offering prices of $3,750,000 (Unit 2) and $2,045,000 (Unit 4A)
• Monthly common charges for unsold units approximately $1,918.39; monthly real estate taxes approximately $6,258.53
• Condominium board: Yiannes Einhorn (President), Raman Gardner (Vice President), Alexis Bourbon (Secretary/Treasurer)
• First Unit Closing occurred May 16, 2022
• Working Capital Fund balance approximately $4,679.92 as of November 11, 2022
• Reserve Fund balance approximately $4,679.92 as of November 11, 2022

Amendment 5 Jun 27, 2022

Amendment discloses first unit closing on May 16, 2022, updated roof terrace details for Unit 4A, and fund balances as of June 22, 2022.

• First Unit Closing held May 16, 2022; 5 units conveyed to purchasers, 3 unsold as of June 22, 2022
• Condominium Declaration recorded May 12, 2022 under CRFN 2022000196529; Floor Plans recorded under CRFN 2022000196530
• Unit 4A roof terrace location and square footage updated; amended Schedule A and floor plan attached
• Common Charges for May 2022 waived by Sponsor; waiver period expired June 1, 2022
• Working Capital Fund approximately $7,113.00 as of June 22, 2022
• Reserve Fund approximately $1,000.00 as of June 22, 2022
• Real estate taxes not yet separately assessed; individual tax bills anticipated for second half of 2022/2023 fiscal year

Amendment 4 Apr 5, 2022

Unit 5B offering price reduced to $1,895,000.00.

• Unit 5B price changed to $1,895,000.00
• Amendment does not affect existing Purchase Agreements
• Schedule A prices decreased for 1 home (median -2.8%): 5B $1,950,000 → $1,895,000

Amendment 3 Feb 11, 2022

Plan declared effective after two residential units (25%) were purchased; storage room area for Unit 5B corrected to 52 square feet.

• Plan effectiveness declared as of February 11, 2022
• Storage Room appurtenant to Residential Unit 5B area corrected to 52 square feet
• Amended Schedule A attached with corrected storage room area

Amendment 2 Dec 21, 2021

Amendment adjusts unit prices, corrects common interest percentages and real estate tax estimates, subsidizes concierge service for first year, and clarifies First Annual Meeting timing.

• Offering prices of unsold residential units amended per attached Schedule A
• Common Interest percentages for Units 3B, 4A and PH increased by 0.0001% each to correct rounding error
• Estimated real estate taxes and carrying charges corrected downward
• Sponsor subsidizes concierge service up to $67,528.00 for first year only
• First Annual Meeting to occur within 9 months of first unit closing
• Unit Owners may vote at First Annual Meeting to continue concierge service in year two
• Schedule A prices decreased for 5 homes (median -5.2%): 2 $4,150,000 → $3,995,000; 3A $1,925,000 → $1,825,000; 3B $1,895,000 → $1,695,000; 4B $1,945,000 → $1,795,000; ...

Amendment 1 Aug 24, 2021

Amendment updates the First Year operating budget to July 1, 2022 – June 30, 2023, revises real estate tax projections, names Corcoran Group as selling agent, and discloses NY State real estate transfer tax law changes eliminating gross-up requirements.

• First Year of Condominium Operation moved to July 1, 2022 – June 30, 2023
• Schedule B recertified by Veritas Property Management LLC
• Real estate tax projections updated for 2022/2023 tax year
• Corcoran Group retained as exclusive Selling Agent at 590 Madison Avenue
• NY State real estate transfer tax gross-up requirement eliminated for agreements after April 1, 2021 or closings after July 1, 2021