359 Second Avenue Condominium (The Edison Gramercy)

Amendment 7 Apr 28, 2023

Amendment discloses post-closing status including first unit closing, temporary certificates of occupancy, escrow funds, unsold units, and board composition.

• First Unit Closing occurred November 14, 2022
• Partial temporary Certificate of Occupancy issued November 10, 2022; most recent February 7, 2023; expires May 8, 2023
• Two Million Dollars ($2,000,000.00) in purchaser deposits held in escrow for permanent Certificate of Occupancy
• Working Capital fund approximately $35,630.21; Reserve Fund approximately $35,630.21
• Units 5A, 5B, 6D, 7A, 7C, 8A, 9B, 10B, 11A, 11B, PHA, PHB, PHC, and PHD unsold and held by Sponsor
• Sponsor retains board control until 30 days after 100% of units conveyed or 5 years after First Closing, whichever is earlier
• Plan term extended by six (6) months
• Building location corrected: East 21st Street and 2nd Avenue

Amendment 6 Aug 26, 2022

Price of penthouse unit PHB changed to $6,500,000.

Amendment 4 Apr 21, 2022

Plan declared effective, building renamed The Edison, address changed to 250 East 21st Street, three unit prices adjusted, and Schedule A updated for square footage corrections.

• Plan declared effective with 9 units (16%) sold to bona fide purchasers
• Building marketing name changed to The Edison
• Final address changed from 351-359 Second Ave to 250 East 21st Street
• Unit 2D price set to $1,520,000
• Unit 7B price set to $2,525,000
• Unit 9C price set to $1,600,000
• Schedule A updated to match unit square footages to floor plans
• Schedule A prices increased for 3 homes (median +2.0%): 2D $1,495,000 → $1,520,000; 7B $2,475,000 → $2,525,000; 9C $1,500,000 → $1,600,000

Amendment 3 Apr 25, 2022

Prices of 8 units increased in the offering plan.

• Unit 5B price raised to $2,500,000
• Unit 7D price raised to $1,550,000
• Unit 7F price raised to $1,375,000
• Unit 8C price raised to $1,525,000
• Unit 8E price raised to $1,175,000
• Unit 8F price raised to $1,400,000
• Unit 9E price raised to $1,200,000
• Unit 9F price raised to $1,425,000
• Schedule A prices increased for 8 homes (median +3.7%): 5B $2,375,000 → $2,500,000; 7D $1,450,000 → $1,550,000; 7F $1,325,000 → $1,375,000; 8C $1,475,000 → $1,525,000; ...

Amendment 2 Apr 18, 2022

Unit prices updated across the building with revised Schedule A.

• Unit 2B price: $2,225,000
• Unit 3B price: $2,275,000
• Unit 3C price: $1,350,000
• Unit 3D price: $1,350,000
• Unit 4B price: $2,325,000
• Unit 4C price: $1,375,000
• Unit 4D price: $1,375,000
• Unit 5B price: $2,375,000
• Schedule A prices increased for 22 homes (median +2.2%): 2B $2,175,000 → $2,225,000; 3B $2,225,000 → $2,275,000; 3C $1,300,000 → $1,350,000; 3D $1,325,000 → $1,350,000; ...

Amendment 1 Apr 4, 2022

Prices updated for 38 units across the building.

• Prices set for units 2A through 9F, ranging from $925,000 to $4,200,000
• Penthouse units PHC and PHA priced at $5,750,000 and $5,995,000 respectively
• Units 10A and 10B priced at $5,995,000 and $6,995,000 with terrace elements
• Revised Schedule A attached with updated pricing, square footage, and estimated charges for first full year of operation January 1, 2022 – December 31, 2022
• Schedule A prices increased for 48 homes (median +1.9%): 2A $3,650,000 → $3,675,000; 2B $2,150,000 → $2,175,000; 2C $895,000 → $925,000; 3A $3,725,000 → $3,750,000; ...