Bensonhurst Condominium

Amendment 4 Feb 27, 2025

Amendment confirms Schedule B budget projections remain unchanged and identifies MidFirst Bank as the construction lender.

• Schedule B projections remain unchanged as certified by Budget Expert
• First Closing anticipated during projected First Year of Condominium Operation (September 1, 2024)
• Construction financing from MidFirst Bank, 420 Lexington Avenue, Suite 2806, New York, NY 10170
• Construction Lender references in Plan documents mean MidFirst Bank

Amendment 3 Dec 12, 2024

Amendment declares the offering plan effective based on receipt of three purchase agreements representing fifteen percent of twenty residential units.

• Plan declared effective with 3 purchase agreements from bona fide purchasers (15% of 20 units)
• Three units counted for effectiveness: 3D, 3E, 5C (all purchase agreements dated November 27, 2024)

Amendment 2 Apr 23, 2024

This is a Second Amendment to the Amended and Restated Condominium Offering Plan for Benson House Condominium establishing unit prices and sponsor control terms.

• Total Offering Amount: $31,117,350 (20 residential units at $16,242,250, 10 parking spaces at $750,000, 3 commercial units at $13,720,100, 1 community facility unit at $405,000)
• Sponsor retains unconditional right to rent rather than sell the non-residential unit prior to plan consummation and all units after consummation
• Purchasers may never gain control of condominium board under terms of this plan
• Sponsor control of board continues until earliest of: fifth anniversary of First Closing, closing of all units offered for sale, or sponsor's decision to relinquish control
• Condominium board cannot take action interfering with sponsor's rights or obligations under the plan
• 1 Garage Unit included but not offered for sale at this time
• Parking spaces offered pursuant to License Agreement
• Schedule A prices increased for 13 homes (median +10.9%): 3C $676,500 → $693,000; 3D $539,000 → $604,000; 4A $720,500 → $770,000; 4B $704,000 → $713,000; ...

Amendment 1 Feb 12, 2024

Selling agent changed to Brown Harris Stevens, condominium name changed to Benson House Condominium, and updated Schedule A with current offering prices.

• Selling agent changed to Brown Harris Stevens at 160 Seventh Avenue, Brooklyn, NY 11215
• Condominium name changed from The Bensonhurst Condominium to Benson House Condominium
• Updated Schedule A with current offering prices for unsold units
• First closing must occur by September 30, 2024 or Schedule B will be amended
• FinCEN Geographic Targeting Order disclosure for cash purchases over $300,000