21 Powers Street Condominium

Amendment 13 Jan 30, 2024

All residential units sold; two roof deck licenses remain unsold; sponsor principals changed and address updated.

• All residential units sold; two unsold Roof Deck Licenses priced at $50,000 and $75,000
• Sponsor control of Board of Managers relinquished in approximately August 2021
• Yehuda Mor removed as principal of Sponsor; Keren Harris added as principal
• Sponsor address changed to 124 Grove Avenue, Unit 546, Cedarhurst, NY 11516
• 2023-2024 budget projects $178,510 in revenues and $178,510 in operating expenses
• Offering term extended twelve (12) months from amendment filing date

Amendment 12 2023

All residential units sold; only storage and roof deck licenses remain unsold with listed prices.

• All units sold; 2 storage space licenses ($25,000 each) and 3 roof deck licenses ($50,000–$75,000) remain unsold
• Sponsor has no monthly common charges or real estate tax obligations
• No sponsor financial obligations due within 12 months
• Board of Managers control relinquished by sponsor in approximately August 2021
• 2021 budget (Sept 1, 2020–Aug 31, 2021): $102,237 income, $92,943 expenses, $9,294 reserve fund
• Financial statements for years ended August 31, 2021 and 2020 attached

Amendment 11 May 12, 2021

Unit 1A price increased to $1,254,000.00, raising total offering price to $17,543,000.00.

• Unit 1A purchase price changed to $1,254,000.00
• Total offering purchase price now $17,543,000.00

Amendment 10 Oct 9, 2020

Selling agent changed to Brown Harris Stevens Development Marketing LLC

• Selling agent changed to Brown Harris Stevens Development Marketing LLC at 445 Park Avenue, 10th Floor, New York, NY 10022
• Updated definition of Selling Agent in Offerings Plan
• Updated Identity of Parties section with new selling agent information and representations
• Updated Purchase Agreement paragraph 25 regarding brokerage commissions

Amendment 9 Aug 3, 2020

Temporary certificate of occupancy issued, two residential units and one parking unit remain unsold with specified prices and common charges, and force majeure provisions updated.

• Temporary certificate of occupancy issued August 7, 2019, covering through September 1, 2020
• $20,000.00 escrowed for permanent certificate of occupancy
• Two residential units unsold: Unit 1A at $1,249,000.00 and Unit 1C at $1,350,000.00
• One parking unit unsold: P1 at $75,000.00
• Monthly common charges for unsold units total $1,618.75; projected monthly RE taxes $3,428.58
• Force majeure provisions expanded to include pandemics, epidemics, shelter-in-place orders, and quarantine measures
• Sponsor's liability limited to return of deposit with interest; performance obligations tolled during excused events

Amendment 8 Jan 30, 2020

Purchase prices updated for units 1A and 1B, raising the total offering price.

• Unit 1A price changed to $1,249,000.00
• Unit 1B price changed to $1,299,000.00
• Total Purchase Price of Offering now $17,538,000.00
• Schedule A prices decreased for 1 home (median -5.5%): 1B $1,375,000 → $1,299,000

Amendment 3 Jan 15, 2019

Purchase prices for two residential units (2C and 2D) were changed, raising the total offering price to $17,517,000.00.

• Unit 2C price changed to $1,449,000.00
• Unit 2D price changed to $925,000.00
• Total offering price now $17,517,000.00
• Schedule A prices increased for 2 homes (median +3.6%): 2C $1,399,000 → $1,449,000; 2D $899,000 → $925,000

Amendment 2 Dec 12, 2018

Plan declared effective with smoking policy added and FinCEN disclosure requirements noted.

• Plan declared effective December 7, 2018; three (3) units (21%) purchased, exceeding 15% minimum requirement
• Building smoking policy prohibits smoking in Common Elements at all times and within 25 feet of entrances and outdoor air intakes
• FinCEN disclosure requirements apply to entity purchasers paying $300,000 or more without bank financing, effective through May 15, 2019
• Smoking policy added to Special Risks as item 45, Purchase Agreement as paragraph 43, and Interim Use and Occupancy Agreement
• Offering term extended to six (6) months after amendment acceptance by Department of Law

Amendment 1 Dec 10, 2018

Purchase prices for six residential units were changed, raising the total offering price to $17,441,000.00.

• Unit 1A price changed to $1,249,000.00
• Unit 2B price changed to $1,335,000.00
• Unit 3B price changed to $1,375,000.00
• Unit 3D price changed to $889,000.00
• Unit PHB price changed to $1,599,000.00
• Unit PHC price changed to $949,000.00
• Total offering price now $17,441,000.00
• Schedule A prices increased for 6 homes (median +4.7%): 1A $1,229,000 → $1,249,000; 2B $1,279,000 → $1,335,000; 3B $1,299,000 → $1,375,000; 3D $849,000 → $889,000; ...