One Essex Crossing Condominium

Amendment 7 Dec 27, 2023

Units 11H and 12H each gain a second bedroom; floor plans and pricing updated.

• Units 11H and 12H converted from 1-bedroom to 2-bedroom units
• Unit 11H price: $2,150,000
• Unit 12H price: $2,175,000
• Updated floor plans for floors 11 and 12 approved by Department of Buildings
• Unit 11H monthly common charges: $1,900; annual RE taxes with abatement: $21,740
• Unit 12H monthly common charges: $1,900; annual RE taxes with abatement: $21,740

Amendment 6 Sep 20, 2023

Escrow bank changed from Signature Bank to Flagstar Bank, N.A., and Schedule A purchase prices updated.

• Escrow Bank changed to Flagstar Bank, N.A. (formerly Signature Bank); escrow account at 261 Madison Avenue, New York, NY 10016
• Escrow Bank interest rate approximately 0.30%, subject to change
• Schedule A updated with current purchase prices for unsold units

Amendment 5 Feb 17, 2023

Updated Schedule A with 2023 common charges and real estate taxes, and adopted 2023 condominium budget.

• Schedule A updated with common charges based on 2023 condominium budget
• Real estate taxes updated in Schedule A
• Purchase prices updated for unsold units
• 2023 condominium budget adopted by board
• Plan term extended

Amendment 4 Aug 11, 2022

Fourth amendment updates unsold unit prices, financial disclosures as of August 1, 2022, refinances construction loan, and extends plan expiration.

• Schedule A purchase prices for unsold units updated
• Sponsor sold 51 residential units; 32 residential units and 4 non-residential units remain unsold
• Working Capital Account balance approximately $140,890 as of August 1, 2022
• Common Charges waiver period expired June 30, 2022; collection commenced July 1, 2022
• Construction loan refinanced from SM Tactical Finance II-A LLC to SM Finance II LLC; total outstanding balance $29,320,611, expiration date June 11, 2024
• Permanent Certificate of Occupancy expected within approximately 24 months from May 3, 2022 architect letter
• Escrow amount for Temporary Certificate of Occupancy reduced to $68,183
• First Annual Meeting scheduled approximately 30 days after second anniversary of First Closing (December 27, 2021)

Amendment 3 Mar 8, 2022

First Closing occurred on December 27, 2021; Condominium Board established; Common Charges waived through May 31, 2022; Working Capital Account created; Sponsor's financial obligations and loan details disclosed.

• First Closing took place December 27, 2021 for Unit 9P
• Common Charges waived for all Unit Owners from December 27, 2021 to May 31, 2022
• Working Capital Account established at Signature Bank with $61,000 balance as of March 1, 2022
• 22 Residential Units sold; 61 Residential Units remain unsold
• 4 Non-Residential Units remain unsold
• Outstanding loan balance $153,827,765 with SM Tactical Finance II-A LLC at 6.35% interest, expiring August 1, 2022
• PCO Escrow Amount reduced from $1,984,203.36 to $1,335,953.36
• Permanent Certificate of Occupancy anticipated within approximately 24 months