Core 10 Condominium

Amendment 7 Aug 17, 2021

The sponsor reports that the building has received a temporary certificate of occupancy, the condominium declaration has been recorded, and the offering plan is extended six months, with title to the two residential units under contract expected to close within the next month.

• Temporary Certificate of Occupancy issued (CO Number 3426009-0000003, Date Issued 08/20/2021)
• Declaration of Condominium filed with the City Register on August 27, 2021 under CRFN 2021000339590
• Sponsor expects to close title to Units A & B within the next month
• Offering Plan extended for six months from the date hereof
• Budget annexed to the Fourth Amendment (Exhibit 3) remains in effect

Amendment 6 Jan 21, 2021

This sixth amendment lets the Sponsor rent the cellar storage space for $7,200.00 a year, allows the Sponsor to delay collecting common charges, restricts certain uses of the commercial unit, corrects the house rules on noise complaints, and extends the offering plan by six months.

• Sponsor gets an option to rent or license the shared cellar Residential Storage Space, to be exercised within one year of the First Unit Closing
• License starts at $7,200.00 per annum, rising 2% annually; fees offset residential common charges
• License runs five years initially, with four ten-year renewal options
• Sponsor may suspend collection of common charges after the First Unit Closing while paying the building's operating expenses; buyers still pay their own taxes, utilities, mortgage and insurance
• Special Risk #39 added covering the delay in common charges and the required notices to owners
• Commercial Unit barred from uses including restaurant, bar, club, lounge, disco, laundry or dry-cleaning, and firearms sales; sale of prepared foods still allowed
• House Rule 11 corrected so a noise complaint no longer needs confirmation by a second unit owner
• Offering Plan extended for six months from the date of the amendment

Amendment 5 Nov 19, 2020

The sponsor declared the Core 10 condominium plan effective after one bona fide purchaser signed, covering 50% of the residential units offered, and extended the plan for six months.

• Plan declared effective by notice dated November 16, 2020, based on one purchase agreement (Unit A, dated November 12, 2020)
• Two residential units offered for sale; one commercial unit not presently offered
• Plan extended for six months from the date of the amendment
• 50.00% of residential units sold to bona fide purchasers, per the sponsor's affidavit
• No other material changes to facts and circumstances affecting the property or the offering

Amendment 4 Aug 24, 2020

This Fourth Amendment to the Core 10 Condominium offering plan updates the first-year budget, moves the start of condominium operation to January 1, 2021, revises the real estate tax estimate and Schedule A, changes the selling agent to Compass, and extends the offering plan for six months.

• Start of condominium operation set for January 1, 2021 through December 31, 2021
• Updated first-year budget totals $42,992 (residential $28,417; commercial $14,575), recertified by the Sponsor's expert
• Purchasers offered a right of rescission if the first unit closing occurs later than December 31, 2021
• Offering plan extended for six months from the date of the amendment
• Selling agent changed to Compass, 110 Fifth Avenue, New York, New York 10011
• Real estate tax estimate updated by expert Jerome Mazursky (Exhibit 3)
• Schedule A updated (Exhibit 4) with current unit prices, revised budget, and updated real estate taxes
• As of filing, there are no units in contract

Amendment 2 Feb 7, 2020

The amendment changes the asking prices for two residential units, Unit A and Unit B, in the 285 Grand Street building under the Core 10 Condominium Offering Plan.

• Unit A price set at $3,500,000.00
• Unit B price set at $3,650,000.00
• No other material changes to the Plan beyond those set forth in amendments