Calyer Greenpoint

Amendment 8 Nov 14, 2024

Sponsor transfers two retail units to a successor sponsor entity for no consideration; successor sponsor will hold units for rental investment only.

• Two retail units transferred to 171 Calyer Main Owner LLC (successor sponsor) for no consideration
• Successor sponsor will hold retail units for rental investment, not for sale
• Successor sponsor principal is Salomon Cojab Moadeb, real estate owner/operator since 2018
• Successor sponsor prohibited from offering retail units for sale without filing new offering plan or obtaining DOL no-action letter

Amendment 5 Apr 8, 2024

Fifth amendment to The Calyer Greenpoint offering plan reflecting first unit closing on February 29, 2024, temporary certificate of occupancy issued, and updated purchase and sale agreement.

• First unit closed on February 29, 2024
• Temporary Certificate of Occupancy issued January 22, 2024 for all residential units
• $25,000 placed in escrow for permanent certificate of occupancy costs
• $10,000 paid to Working Capital Fund
• Managing agent Flatiron Real Estate Advisors engaged at $27,192.00 per year
• Purchase and Sale Agreement updated to reflect effective plan and established condominium
• Units not yet separately assessed and billed for real estate taxes
• Closing apportionments between Sponsor and Board waived by Sponsor

Amendment 4 Dec 4, 2023

Sponsor declares the plan effective based on 5 purchase agreements representing 24% of 21 residential units.

• Plan declared effective on November 28, 2023 with 5 units under purchase agreements
• First closing to be scheduled with at least 30 days' prior written notice to purchasers
• No temporary or final Certificate of Occupancy issued; closing cannot occur before issuance
• Offering and filing period extended

Amendment 3 Oct 2, 2023

Real estate tax projections reduced, Schedule A prices and unit dimensions updated, Schedule B budget reallocated between reserves.

• Real estate taxes for all units reduced 8.7% on average (from $630,364 to $575,701)
• Storage Unit 8 square footage changed from 47 to 40 square feet
• Retail Unit 1 square footage changed from 4,826 to 4,820 square feet
• Common Interests allocated to Residential Units corrected
• Parking unit taxes increased from $6,081 to $8,108
• Schedule B: Reserve for Contingencies eliminated, Reserve for Capital Replacements increased by same amount for Fannie Mae compliance
• Purchasers who signed before amendment have 15-day rescission right
• Appendix to Description of Property and Specifications added
• Schedule A prices increased for 20 homes (median +17.4%): 2A $2,029,000 → $2,295,000; 2B $1,329,000 → $1,475,000; 2C $2,049,000 → $2,395,000; 2D $949,000 → $1,125,000; ...

Amendment 2 Sep 19, 2023

Prices of 2 unsold residential units are updated.

• Unit 3G price set to $1,149,000.00
• Unit 4A price set to $2,950,000.00
• Prices of other unsold units remain negotiable

Amendment 1 Sep 15, 2023

New offering prices set for unsold residential units at The Calyer Greenpoint.

• Offering prices for 21 unsold units listed on Exhibit A, ranging from $1,125,000.00 to $3,950,000.00
• Prices of unsold units not under contract remain negotiable and subject to change