224 North 6th Street Condominium

Amendment 6 2025

Plan declared effective after one unit purchased; first closing expected July 1, 2025; FinCEN reporting requirements added.

• Plan declared effective March 17, 2025 (one unit = 33.33% of three residential units offered)
• First closing anticipated on or about July 1, 2025
• FinCEN Geographic Targeting Order update: entity purchasers paying $300,000+ in cash or alternative funds without bank financing must be reported to FinCEN (applies to closings on or after April 14, 2025)
• Budget updated in Amendment No. 5 with Certification of Adequacy by G Buddy Inc.
• Plan extension: valid for six months from amendment filing date

Amendment 5 2025

Amendment adds managing agent, updates first closing date to July 1, 2025, changes unit prices, and updates budget and tax estimates.

• First closing date changed to July 1, 2025; Temporary Certificate of Occupancy anticipated June 2025
• Alvic Property Management Corp. appointed as managing agent at annual fee of $4,800
• Unit prices changed (Schedule A revised)
• Budget updated to include managing agent fee (Schedule B revised)
• Real estate tax estimates updated for first year of operation
• No units currently in contract as of amendment date
• Amendment valid for six months from acceptance for filing
• Schedule A prices increased for 3 homes (median +10.7%): 1 $3,100,000 → $3,250,000; 2 $2,400,000 → $2,895,000; 3 $2,575,000 → $2,850,000

Amendment 4 2024

Sponsor updated unit prices effective with this amendment.

• Unit prices changed; revised Schedule A attached as Exhibit A
• Prices unchanged for units currently under contract

Amendment 3 2023

Amendment updates closing timeline to November 1, 2023, provides revised Schedule A with no entered Purchase Agreements as of September 5, 2023, and reaffirms budget with updated commencement date.

• First closing anticipated November 1, 2023; Temporary Certificate of Occupancy expected October 2023
• No Purchase Agreements entered into as of September 5, 2023
• Schedule A updated showing 3 units totaling $8,075,000 with prices: Unit 1 at $3,100,000, Unit 2 at $2,400,000, Unit 3 at $2,575,000
• Budget commencement date changed to November 1, 2023 - October 31, 2024
• First year budget total remains $32,516
• Plan extension valid for six months from amendment filing date

Amendment 2 Mar 15, 2023

Amendment updates first closing date to September 1, 2023, provides updated Schedule A with three units and pricing, and reaffirms the budget for the revised operating period.

• First closing and condominium operation moved to September 1, 2023 (from original 2022 date)
• Temporary Certificate of Occupancy anticipated August 2023
• No purchase agreements entered as of February 14, 2023
• Schedule A updated with three units: Unit 1 at $3,100,000 (1 BR/1 Bth), Unit 2 at $2,400,000 (3 BR/3 Bth), Unit 3 at $2,575,000 (3 BR/3 Bth); total $8,075,000
• Monthly common charges: Unit 1 at $1,175.43, Unit 2 at $851.70, Unit 3 at $865.87
• Budget period September 1, 2023 to August 31, 2024 with total projected expenses of $32,516
• Purchasers entitled to rescission offer due to first closing not occurring in initial projected 2022 year
• Plan valid for six months from amendment acceptance date

Amendment 1 Jul 18, 2022

Amendment updates Schedule A pricing, closing timeline, budget commencement date, real estate tax estimates, and transfers state and city transfer tax obligations to purchasers.

• Schedule A updated with 3 units priced at $3,100,000, $2,400,000, and $2,575,000
• First Temporary Certificate of Occupancy expected September 2022
• First residential unit closing anticipated January 1, 2023
• Budget commencement date updated; budget totals unchanged at $32,516
• Real estate tax estimates updated per letter dated August 5, 2022
• Purchasers now responsible for New York State Transfer Tax (0.4% or 0.65%) and New York City Real Property Transfer Tax (1% or 1.425%)
• Purchasers responsible for New York State Mansion Tax of 1% for units with combined sales price $1,000,000 or more
• Plan valid for 6 months from amendment filing date