33 Frost Street Condominium

Amendment 6 Dec 10, 2020

This amendment reports the first unit closing (November 4, 2020), the temporary certificate of occupancy, the release of the Popular Bank mortgage, updated sponsor carrying costs and reserve figures, and a six-month extension of the offering term.

• First closing occurred November 4, 2020, for Unit 1A
• Temporary certificate of occupancy issued November 13, 2020, with expiration date 02/11/2021
• Sponsor expects the permanent certificate of occupancy within two (2) years from the first TCO issuance
• Property no longer encumbered by the Popular Bank mortgage; sponsor has no obligations under it
• Offering plan term extended for an additional six-month period from the date of this amendment
• Sponsor's aggregate monthly common charges on unsold units approximately $2,257.27 as of December 1, 2020
• Sponsor's aggregate monthly real estate taxes on unsold units approximately $1,799.13 as of December 1, 2020; units not separately assessed
• Working capital fund balance approximately $1,063.84 as of December 1, 2020; General Contingency Fund anticipated at $500.00 and Reserve Fund at $3,000.00

Amendment 5 Oct 16, 2020

This amendment makes the Private Roof Terraces exclusive to the Penthouse Unit (now Unit 5A), updates Schedule A and the bulkhead floor plan, renames two units, records the Declaration, and discloses Sponsor-paid flood insurance for the first year of operation.

• Private Roof Terraces become Limited Common Elements of the Penthouse Unit, which gets exclusive use under a Private Roof Terrace License at its closing
• Penthouse Unit renamed Unit 5A; Unit 1 renamed Unit 1A
• Sponsor pays the $2,203.00 flood insurance premium for the First Year of Condominium Operation; budget and common charges not affected for that year
• Updated Schedule A: Penthouse square footage revised to include the roof terraces and common interest percentages change slightly; purchase prices not affected
• Common charges of other Unit Owners reduced in line with their lower common interest percentages
• Declaration recorded October 28, 2020 as CRFN 2020000300167; temporary Certificate of Occupancy issued August 18, 2020
• Updated bulkhead floor plan and Sponsor's architect certification dated October 30, 2020
• Plan term not extended

Amendment 4 Jul 2, 2020

This amendment declares the 33 Frost Street Condominium offering plan effective after two units reached purchase agreements, and extends the plan's term by six months.

• Plan declared effective by notice dated June 29, 2020, after purchase agreements for two Units were executed
• Plan term extended for an additional six-month period, starting on the date of this amendment
• Closings of title cannot take place before this amendment is accepted for filing by the Department of Law

Amendment 3 Jun 12, 2020

This third amendment updates the unit prices, common charges, real estate taxes, first-year budget, energy cost estimates and real estate tax opinion for 33 Frost Street Condominium, extends the plan's term by six months, and tolls the projected first-year start date.

• Estimated real estate taxes and common charges updated for each unit (Exhibit A)
• First-year budget (July 1, 2020 to June 30, 2021) updated, with total estimated expenses of $60,894
• Estimated energy costs (Schedule B-1) replaced with updated figures from AmPol Engineering PLLC
• Real estate tax opinion replaced with an updated opinion from The Mazursky Group, Inc.
• Plan term extended for six months from the amendment date
• Projected first-year start and first closing dates tolled under Executive Order 202.18, which was in effect for 112 days (April 16, 2020 through August 6, 2020)
• FinCEN Geographic Targeting Order renewed, now set to expire November 5, 2020, subject to extension

Amendment 2 Mar 11, 2020

This amendment sets new purchase prices for seven units (Units 1, 2A, 2B, 3A, 3B, 4A and 4B), and the plan's term is not extended.

• Unit 1 purchase price set at $1,750,000.00
• Units 2A and 2B purchase prices set at $1,699,000.00 each
• Units 3A and 3B purchase prices set at $1,625,000.00 each
• Units 4A and 4B purchase prices set at $1,640,000.00 each
• Sponsor may revise prices and terms further, but not for a unit with a signed purchase agreement without that buyer's consent
• Plan term not extended
• No other material changes to the plan

Amendment 1 Feb 25, 2020

This amendment lowers the required down payment deposit from 15% to 10% of the Purchase Price, seals certain lot line windows on the fourth and penthouse floors with updated floor plans, and adds FinCEN title company reporting notices.

• Required Deposit reduced from 15% to 10% of the Purchase Price
• Certain lot line windows on the fourth floor and penthouse floor sealed; affected rooms no longer have them
• Floor plans for Residential Units replaced with updated plans (Exhibit A) and Schedule 1 of the Description of Property amended
• FinCEN Geographic Targeting Order (renewed November 8, 2019) added; title company may require buyer information before closing
• Order set to expire May 9, 2020, subject to further extension by FinCEN
• Plan term not extended by this amendment