2100 Bedford Avenue Condominium

Amendment 20 Jul 1, 2019

Price change for one unsold unit.

Amendment 19 May 7, 2019

Prices updated for two units.

• Unit 6E price changed to $885,000.00
• Unit 6F price changed to $465,000.00

Amendment 18 Mar 26, 2019

Price of one unsold unit adjusted.

Amendment 17 Feb 15, 2019

This amendment extends the offering plan term by six months, updates the operating budget for November 1, 2018 to October 31, 2019, adjusts reserve fund requirements, adds a smoking policy, and provides updated FinCEN disclosure requirements.

• Operating budget for year ending October 31, 2019 approved with total income of $452,935 and total expenses of $452,935
• Reserve Fund increased from $30,695.00 to $34,237.00 based on updated reserve fund study dated January 23, 2019
• Common Charges increased 7% to $415,200 annually; Parking Common Charges increased 7% to $27,536; Storage Common Charges increased 7% to $7,199
• Smoking and electronic cigarettes prohibited in all enclosed common areas; permitted in dwelling units and outdoor areas
• Five units remain unsold: 2A, 5B, 5E, 6E, and 6F
• Sponsor retains Board control with three board members listed
• FinCEN Geographic Targeting Order disclosure requirements updated; order expires May 15, 2019
• Offering plan term extended by six months from amendment date

Amendment 16 Jan 29, 2019

Unit 5E price changed to $875,000.00.

Amendment 15 Oct 24, 2018

Unit 1A price adjusted to $573,200.00.

Amendment 14 Aug 31, 2018

Fourteenth Amendment extends the offering plan term by 12 months and provides required disclosures on unsold units, sponsor obligations, and building occupancy status.

• 21 units remain unsold: 1A, 2A, 2J, 3A, 5A, 5B, 5E, 6A, 6D, 6E, 6F, 8B, P2, P18, P22, SB2, SB3, SB5, SB10, SB11, SB29
• Sponsor paying $6,869.92 monthly in common charges for unsold units
• Sponsor paying $17,217.99 monthly in property taxes for unsold units
• Permanent Certificate of Occupancy issued August 14, 2018
• First unit closing occurred December 1, 2017
• Offering plan term extended 12 months from amendment filing date
• First meeting of unit owners will be called no more than 1 year after first unit closing

Amendment 13 Sep 24, 2018

Prices of 8 units are updated.

• Unit 5B price changed to $460,000.00
• Unit 6F price changed to $475,000.00
• Unit 1A price changed to $545,000.00
• Unit 2A price changed to $775,000.00
• Unit 3A price changed to $795,000.00
• Unit 5A price changed to $840,000.00
• Unit 5E price changed to $895,000.00
• Unit 8B price changed to $1,175,000.00
• Schedule A prices decreased for 8 homes (median -3.6%): 1A $575,000 → $545,000; 2A $799,000 → $775,000; 3A $825,000 → $795,000; 5A $850,000 → $840,000; ...

Amendment 12 Apr 19, 2018

Prices for 21 unsold units and parking spaces are updated.

• Unit prices adjusted: 1A ($575,000), 2A ($799,000), 2J ($820,000), 3A ($825,000), 3C ($615,000), 3G ($615,000), 3J ($830,000), 5A ($850,000), 5B ($495,000), 5D ($995,000), 5E ($910,000), 6A ($860,000), 6D ($1,025,000), 6E ($925,000), 6F ($510,000), 7A ($675,000), 7E ($1,095,000)
• Parking spaces P2, P3, P18, P22, P23, P25 each priced at $58,000
• Schedule A prices increased for 6 homes (median +6.3%): 1A $530,000 → $575,000; 3C $580,000 → $615,000; 3G $590,000 → $615,000; 5B $465,000 → $495,000; ...
• Schedule A prices decreased for 11 homes (median -2.9%): 2A $835,000 → $799,000; 2J $835,000 → $820,000; 3A $860,000 → $825,000; 3J $860,000 → $830,000; ...

Amendment 11 Mar 12, 2018

Corrects typographical error in Unit 5H property tax estimate with 421-a tax benefits.

Amendment 10 Jan 10, 2018

Amendment addresses 421-a tax exemption caps, offers rescission to prior purchasers, discloses post-closing building status, and updates the first-year budget.

• 421-a tax exemption subject to per-unit caps: $87,355 (2018/2019), increasing 3% annually
• Purchasers who signed before this amendment offered rescission within 15 days
• First Unit Closing (Unit 2E) occurred December 1, 2017
• Temporary Certificate of Occupancy issued November 15, 2017; permanent expected before February 13, 2018
• Building superintendent started December 5, 2017; porter started January 22, 2018
• Working capital fund approximately $18,376.80
• First Year Budget updated to reflect December 1, 2017 start date
• Offering term extended by six (6) months

Amendment 9 Sep 28, 2017

Amendment updates first year operating budget with revised payroll costs reflecting prevailing wage compliance, reduces insurance coverage limits, and discloses prior convictions of sponsor principals.

• First year of operations projected to commence November 1, 2017
• Porter hours reduced to 24 per week at $24,960 annually with prevailing wage supplemental benefits added
• Total payroll and related expenses set at $145,583 for superintendent and porter staff
• Umbrella liability coverage reduced from $100,000,000 to $25,000,000
• Employee dishonesty limit reduced from $500,000 to $100,000
• Sponsor principals David (Farzad) Dilmanian and Joseph Davoudzadeh each have one federal conviction from June 1998 related to real estate foreclosure auctions

Amendment 8 Jul 25, 2017

Prices updated for three units.

• Unit 4L price: $705,000.00
• Unit 5D price: $1,035,000.00
• Unit 6D price: $1,075,000.00
• Schedule A prices decreased for 3 homes (median -2.3%): 4L $730,000 → $705,000; 5D $1,050,000 → $1,035,000; 6D $1,100,000 → $1,075,000

Amendment 7 Jun 23, 2017

Floor plans revised for A-line units on seventh and eighth floors to combine two closets and add a hot water heater.

• Closet containing washer/dryer combined with adjacent closet in A-line units on floors 7 and 8
• Combined closet now contains hot water heater

Amendment 6 Jul 10, 2017

Prices updated for six units.

• Unit 3E price set to $555,000.00
• Unit P2 price set to $50,000.00
• Unit P3 price set to $50,000.00
• Unit P13 price set to $50,000.00
• Unit P35 price set to $50,000.00
• Unit P36 price set to $50,000.00

Amendment 5 May 5, 2017

Amendment updates unit specifications, utility cost projections, and property tax assessments, and declares the plan effective.

• Unit flooring changed to red oak; gas range equipped with oven but no hood
• Projected individual electricity charges to each apartment revised in updated Schedule B-1
• Property re-assessed by Department of Finance in February 2017 for 2017/2018 tax year; projected taxes for first year increased
• Updated Schedule A reflects new projected taxes for each unit
• Plan declared effective; sponsor has accepted purchase agreements for 14 residential units (17% of building)

Amendment 4 May 19, 2017

Price change for one unsold unit.

Amendment 3 Apr 27, 2017

Prices updated for 23 unsold units in the condominium.

• Prices set for 23 units ranging from $540,000 to $705,000
• Revised Schedule A with updated prices attached as Exhibit A
• Schedule A prices increased for 23 homes (median +1.7%): 2C $545,000 → $555,000; 2D $530,000 → $540,000; 2F $530,000 → $540,000; 2G $555,000 → $565,000; ...

Amendment 2 Apr 25, 2017

Prices of four unsold units are updated.

• Unit 2E price set to $530,000.00
• Unit 3E price set to $540,000.00
• Unit 4L price set to $730,000.00
• Unit 8B price set to $1,250,000.00
• Schedule A prices increased for 4 homes (median +3.5%): 2E $520,000 → $530,000; 3E $525,000 → $540,000; 4L $705,000 → $730,000; 8B $1,200,000 → $1,250,000

Amendment 1 Apr 20, 2017

Price change for one unit.