168 Plymouth Street Condominium

Amendment 13 May 27, 2025

This amendment updates the plan for the one remaining unsold unit (PHC, offered at $3,846,000 and currently rented), refreshes projected taxes, common charges, budget, financial statements and reserve balances, and names Adler & Stachenfeld LLP as attorney for Sponsor and escrow agent.

• One unsold residential unit (PHC) remains, offered at $3,846,000 and currently rented
• Projected 2025/2026 real estate taxes without abatement: approximately $3,217.46 monthly commencing July 1, 2025 (2024/2025: approximately $3,134.12 monthly)
• Sponsor's monthly Common Charges for unsold units: approximately $2,767.93 as of March 19, 2025
• Attorney for Sponsor and Escrow Agent changed to Adler & Stachenfeld LLP; escrow rider updated (Exhibit D)
• 2025 Condominium budget and updated budget certification attached as Exhibit B; audited financial statement for calendar year 2023 attached as Exhibit C
• Working Capital Fund approximately $204,041.95 and Reserve Fund approximately $540,605.44 as of March 19, 2025, held at Bank United
• Sponsor still controls the Board of Managers; Sponsor control lasts until the later of Sponsor owning 10% or less of unsold Common Interest or five years from the First Unit Closing
• Board members and officers listed: AJ Pires, Jared Della Valle, Matt Leonard, Andy Snyder, Alix Amori

Amendment 12 Apr 3, 2024

This twelfth amendment updates the unsold-unit list and prices, the expected permanent certificate of occupancy, the condominium board, the managing agent, and the financial and tax figures for 168 Plymouth Street Condominium.

• 2 unsold residential units offered at the prices in Exhibit A, including Unit 4F at $1,999,000 and PHC at $3,846,000
• Permanent Certificate of Occupancy anticipated on or about September, 2024, not guaranteed; estimated outstanding work $25,000.00, with deposits of at least $25,000.00 held in escrow
• Solstice Residential Group, LLC named as Managing Agent, 3-year term, annual fee $46,500.00
• Unsold units' estimated monthly real estate taxes without abatement about $5,364.37 from July 1, 2024 (up from about $5,303.77 for FY 2023/2024); abatement not guaranteed
• Unsold units' monthly Common Charges about $5,019.40 as of March 13, 2024
• Board members: AJ Pires (President), Jared Della Valle (Vice President), Matt Leonard (Secretary/Treasurer), Andy Snyder and Alix Amori (Officers)
• Working Capital Fund about $233,313.91 and Reserve Fund about $271,473.65 as of March 13, 2024
• 2024 budget attached; 2022 audited financial statement attached; 2023 audit being prepared, not yet approved

Amendment 11 Apr 17, 2023

This amendment updates the unsold units' prices and carrying costs, the Temporary Certificate of Occupancy and expected Permanent Certificate of Occupancy timing, the 2023/2024 budget, reserve and working capital balances, and the property tax abatement description.

• 3 unsold residential units offered at prices in Exhibit A (THC $3,511,000; 4F $2,102,000; PHC $3,846,000)
• Sponsor's monthly Common Charges on unsold units rise from approximately $5,547.77 to $6,990.19 beginning July 1, 2023
• Sponsor's monthly real estate taxes on unsold units projected at approximately $8,326.45 from July 1, 2023 (vs. approximately $5,766.25 on 2022/2023 bills)
• Temporary Certificate of Occupancy issued February 2, 2023; estimated outstanding work for PCO approximately $25,000.00; deposits of at least $25,000.00 held in escrow
• PCO anticipated on or about September 31, 2023, not guaranteed
• Condominium budget for July 1, 2023 to June 30, 2024 annexed as Exhibit D
• Working Capital Fund approximately $223,563.00 and Reserve Fund approximately $246,346.00 as of February 28, 2023
• Property tax abatement of up to 17.5% described; eligibility and continuation not guaranteed

Amendment 10 Apr 19, 2022

This Tenth Amendment reports that 37 homes have closed and 9 remain unsold, updates the certificate of occupancy status, and gives the budget, reserve fund, and real estate tax status as of March 2022.

• Temporary Certificate of Occupancy issued April 4, 2022; Permanent Certificate of Occupancy anticipated on or about January 31, 2023, not guaranteed, with deposits of at least $660,000.00 held in escrow until it is obtained
• 9 unsold homes offered at the prices in Exhibit A, ranging from $2,076,000 to $4,846,000
• 37 residential units conveyed to Purchasers as of March 14, 2022
• Unsold units are not currently rented
• Common Charges billed to all Unit Owners, including Sponsor for unsold units, as of January 15, 2022
• Real estate taxes not yet separately assessed; DOF anticipated, but not guaranteed, to issue individual bills for the first half of the 2022/2023 fiscal year
• Schedule B remains an accurate 2022 budget projection; updated certification in Exhibit C
• Working Capital Fund approximately $167,713.65 and Reserve Fund approximately $119,118.99 as of March 15, 2022

Amendment 9 Mar 7, 2022

This Ninth Amendment changes the offering prices of certain unsold residential units, as shown in an amended Schedule A, and states that no other material changes are made to the Plan.

• Offering prices of certain unsold residential units changed per amended Schedule A (Exhibit A)
• Price changes do not affect Purchase Agreements in effect as of March 7, 2022
• No other material changes to the Plan

Amendment 8 Oct 14, 2021

This eighth amendment changes offering prices for certain unsold homes, reports the First Unit Closing and sales status, sets out the expected permanent certificate of occupancy timing with deposits held in escrow, updates taxes and common charges, and removes the gross-up on the buyer's NYS transfer tax.

• Expected permanent certificate of occupancy on or about August, 2022 (not guaranteed), with at least $1,500,000.00 of purchaser deposits held in escrow until it is procured
• Offering prices of certain unsold homes changed, as set out in amended Schedule A (Exhibit A); existing Purchase Agreements not affected
• First Unit Closing held September 2, 2021, conducted remotely due to COVID-19
• As of November 9, 2021, 13 homes conveyed, 33 unsold, 18 of the unsold under executed Purchase Agreements
• Sponsor waived common charges as of the First Unit Closing and paid actual operating expenses
• Homes not yet separately assessed by DOF; individual tax bills anticipated for the second half of 2021/2022 (not guaranteed); Sponsor paid first-half taxes
• Gross-up removed from the purchaser's NYS Real Estate Transfer Tax for purchase agreements after April 1, 2021 or closings after July 1, 2021
• Most recent Temporary Certificate of Occupancy issued October 25, 2021

Amendment 7 Jul 28, 2021

This seventh amendment changes the offering prices of several unsold units, updates the soil vapor mitigation disclosure, reports the first Temporary Certificate of Occupancy, and confirms the first-year budget.

• Offering prices of several units changed (revised Schedule A, Exhibit C)
• Soil vapor mitigation changed: Positive Pressure Method used in place of a 20-mil soil vapor barrier membrane, per Langan Engineering, with the system engineered by Guth DeConzo Consulting Engineers, P.C. and installed
• First Temporary Certificate of Occupancy issued by NYC Department of Buildings on August 25, 2021 (Exhibit D)
• First-year budget (April 1, 2021 to March 31, 2022) certified as still accurate; total residential Common Charges $958,148 (updated certification in Exhibit A)

Amendment 6 Apr 28, 2021

This amendment changes the offering prices of certain unsold residential units, as listed in the amended Schedule A (Exhibit A), and states that these price changes do not affect Purchase Agreements already in effect.

• Offering prices of certain unsold residential units changed, per amended Schedule A (Exhibit A)
• Price changes do not affect Purchase Agreements in effect as of April 28, 2021
• No other material changes to the Plan

Amendment 5 Mar 25, 2021

This amendment changes the offering prices of certain unsold residential units, as shown in the amended Schedule A (Exhibit A), and states that the price changes do not affect purchase agreements already in effect.

• Offering prices of certain unsold residential units changed per amended Schedule A (Exhibit A)
• Price changes do not affect Purchase Agreements in effect as of March 25, 2021
• Exhibit A total offering price for residential units: $132,087,000
• Schedule A covers the first projected year, April 1, 2021 - March 31, 2022, and lists storage locker prices of $25,000 to $35,000
• Schedule A-1 lists cabana storage prices and Schedule A-2 lists cabana prices for the same period
• No other material changes to the Plan

Amendment 4 Jan 19, 2021

The Fourth Amendment changes prices of some unsold units, lets the Sponsor waive common charges and submeter electricity, allows remote closings and email notices, and updates storage, unit layouts and building details.

• Offering prices of certain unsold units changed per amended Schedule A (Exhibit A); existing purchase agreements not affected
• Sponsor may waive common charges until an occupancy level is reached, then either pays all expenses or owners pay their share
• Sponsor has petitioned the NYSPSC to submeter electricity; if approved, owners pay Con Edison-based rates capped at direct-metered residential rates
• Storage Lockers increased from 20 to 21
• Sponsor may conduct remote closings and virtual inspections, and notices may be sent by email to the Purchaser's attorney
• Unit layouts and dimensions changed in certain units; floor plans updated
• Telecom Unit square footage decreased; radiant floor heating disclosed for certain units
• Building height, window description and construction status updated

Amendment 3 Oct 7, 2020

The plan is declared effective after purchase agreements for 7 of the 46 residential units were signed, and Bank of America is named as Escrow Bank.

• Plan declared effective: purchase agreements for 7 units, approximately 15.2173% of the 46 residential units offered
• Bank of America, 345 Park Avenue, New York, New York 10022, designated as Escrow Bank
• Exhibit A affidavit supports effectiveness and lists units 2G, 6C, 6D, 6F, 6G, 7A and PHB with purchase agreement dates

Amendment 2 Apr 24, 2020

This amendment attaches an updated first-year budget (Schedule B, Exhibit A) for the period April 1, 2021 to March 31, 2022 and states that the original Schedule B remains an accurate projection.

• Schedule B first-year budget restated as Exhibit A, stated to remain an accurate projection
• Projected residential Common Charges: $958,148
• Projected total operating expenses: $875,953, plus Capital Reserve Fund contribution of $87,595
• Projected total income and expenses: $963,548
• Projected cabana license fee income: $5,400
• No other material changes to the Plan

Amendment 1 Jan 9, 2020

This amendment changes the offering prices of certain unsold residential units, as set out in an amended Schedule A (Exhibit A), and those changes do not affect purchase agreements already in effect.

• Offering prices of certain unsold residential units changed (amended Schedule A, Exhibit A)
• Price changes do not affect purchase agreements in effect as of January 9, 2020
• Exhibit A also lists offering prices for storage lockers (Schedule A-1) and cabanas (Schedule A-2) for April 1, 2021 - March 31, 2022
• No other material changes to the Plan