210 Bowery Condominium

Amendment 7 2019

Amendment updates building occupancy status, unsold unit pricing, sponsor principals, and extends offering plan effectiveness.

• First unit closing (Unit PH) occurred November 30, 2018
• Permanent Certificate of Occupancy issued May 1, 2018
• Three units remain unsold: Units 2, 3, and 7
• Unit 2 offered at $3,750,000.00; Unit 3 at $3,675,000.00; Unit 7 at $2,725,000.00
• Working Capital Fund established at $9,410.72
• Jonathan W. Grisham removed as Principal; John Gottfried added as Principal
• Offering plan effectiveness extended six months from amendment date

Amendment 6 Jan 10, 2019

Prices for three residential units were reduced.

• Unit 2 price reduced to $3,750,000.00
• Unit 3 price reduced to $3,675,000.00
• Unit 7 price reduced to $2,725,000.00
• Total Purchase Price of Offering changed to $23,175,000.00

Amendment 5 Aug 15, 2018

Offering plan declared effective with 28% of units under contract, extending the term to six months after filing acceptance.

• Offering Plan declared effective by written notice dated August 15, 2018
• Two residential units purchased, representing 28% of units offered
• Minimum 15% requirement for effectiveness exceeded
• Term of offering extended to six months after Department of Law acceptance date
• No other material changes to plan terms

Amendment 4 May 22, 2018

Amendment updates the anticipated first year of condominium operation to July 1, 2018, revises common expense allocations, and replaces the real estate tax projection letter.

• Permanent Certificate of Occupancy issued May 1, 2018
• First Year of Condominium operation moved to July 1, 2018 through June 30, 2019
• First Unit Closing anticipated July 1, 2018
• Commercial Unit bears 15% of Shared Common Expenses
• Rescission right offered if first closing delayed 12+ months beyond July 1, 2018
• Real estate tax assessment opinion letter replaced with updated letter dated May 22, 2018
• Schedule A, Schedule B, and Special Risks 22 and 28 revised to reflect new dates

Amendment 3 Jan 8, 2018

Revised easement provisions for unit owners and commercial unit owner to access roofs and common areas for equipment maintenance.

• Easement language updated for all unit owners to access roofs and terraces for maintaining mechanical equipment including air-conditioning
• Easement language updated for commercial unit owner to access roofs, terraces, cellar and common areas for maintaining heating, air-conditioning, boiler, water, electrical and gas equipment
• Same commercial unit easement language added to Special Risk 9 on page 7
• Same commercial unit easement language added to 'The Commercial Unit' section on page 98
• No material changes to Common Charges or projected budget for first year
• No lawsuits or administrative proceedings affecting the offering
• First unit closing has not yet occurred; financial statements to be provided in future amendment
• Term of offering extended six months from amendment filing date with Department of Law

Amendment 2 May 16, 2016

This amendment updates the anticipated First Year of Condominium operation to July 1, 2017, revises real estate tax projections, and modifies closing timelines and related disclosures.

• First Year of Condominium operation moved to July 1, 2017 through June 30, 2018
• Commercial Unit to bear 15% of Shared Common Expenses
• First Unit Closing anticipated on or about July 1, 2017
• Purchasers have right of rescission if First Unit Closing delayed 12 months or more beyond July 1, 2017
• Real estate tax assessment opinion letter replaced with revised letter from Herman, Katz, Congemi & Clyne, LLP dated March 31, 2017
• Post-construction taxable assessed valuation projected at $982,269.00
• Projected tax rate for Residential Units 12.892%

Amendment 1 2017

This amendment extends the term of the offering plan for six months after Department of Law filing acceptance and provides financial and FinCEN disclosures.

• Offering plan term extended six months after Department of Law filing acceptance
• No material changes to Common Charges or individual expenses from Projected Budget
• No lawsuits or administrative proceedings materially affecting the offering
• First Unit Closing has not yet occurred; no Common Charges collected
• FinCEN disclosure: title companies must report on entity purchasers buying residential property for cash over $3M in Manhattan or $1.5M in other boroughs, effective August 28, 2016 through August 22, 2017