171 North First Street Condominium (171n1)

Amendment 2 Apr 5, 2024

Amendment updates condominium operations following the December 12, 2023 first closing, including board composition, financial disclosures, and unsold unit offerings.

• First Closing occurred December 12, 2023 for Unit PHG
• Condominium Declaration recorded August 29, 2023 in CRFN 2023000221001
• Working Capital Account established with approximately $110,692 at Capital One Bank
• Board members: Lisa Poon (President), Andy Wong (Vice President), Michael Berson (Secretary/Treasurer)
• Sponsor sold 22 units; 35 units remain unsold
• Sponsor's monthly Common Charges on unsold units approximately $53,732
• Permanent Certificate of Occupancy escrow deposit $48,487.22
• 35 unsold units offered for sale at prices on Schedule A

Amendment 1 Jun 20, 2023

Amendment updates Schedule A pricing, common charges, and real estate taxes effective December 1, 2023, and provides updated floor plans for multiple units.

• First Year of Condominium Operation projected to commence December 1, 2023
• Updated Schedule A with new Offering Prices for all units
• Updated Schedule B Budget for period December 1, 2023 - November 30, 2024
• Updated floor plans for Units 2G, 3A, and North Elevation reflecting as-built conditions
• New floor plans for Units 3G, 4G, 4A, 5A, 6A, and PHA
• Updated Real Estate Tax Opinion Letter
• Updated Schedule B-1 Projected Individual Energy Costs Budget
• Updated Budget Expert certification
• Schedule A prices decreased for 7 homes (median -26.6%): 3D $2,552,000 → $1,880,000; 3H $2,160,000 → $1,590,000; 3J $1,510,000 → $1,090,000; 3K $2,638,000 → $1,935,000; ...