99 Morningside

Amendment 3 Aug 14, 2020

Amendment updates tax projections, common charges, and pricing for units with revised first year of operation commencing January 1, 2021.

• First Year of Condominium operation updated to commence January 1, 2021
• Schedule A revised with updated unit pricing
• Real estate tax estimates revised based on 2020/2021 tax assessment
• Projected real estate taxes upon 100% completion estimated at $4,656,000.00 for residential units with 12.5% tax rate
• Post-construction estimated real estate taxes for entire 2021/2022 tax year approximately $582,000 for residential units
• Common charges updated including new line item for virtual doorman
• 421-a tax exemption cap table provided for tax years 2019/2020 through 2033/2034
• Sponsor acquired 24 negotiable certificates to meet 421-a eligibility requirements
• Schedule A prices increased for 3 homes (median +1.3%): 7B $2,700,000 → $2,750,000; 8B $2,390,000 → $2,395,000; 9B $2,790,000 → $2,825,000
• Schedule A prices decreased for 13 homes (median -5.6%): 3A $1,795,000 → $1,590,000; 4A $1,850,000 → $1,615,000; 4B $1,580,000 → $1,495,000; 4C $1,595,000 → $1,505,000; ...

Amendment 2 Jan 24, 2020

Floor plans revised for specific units, Temporary Certificate of Occupancy issued, and Selling Agent address updated.

• Floor Plans for Units 3A, 4A, 5A, 6A, 3B, 4B, 5B, 6B, 7A and 8A now equipped with kitchenettes
• Floor Plans for Units 4C, 5C and 6C revised with proper legend
• Site Plan revised to clarify project site border
• Temporary Certificate of Occupancy issued December 23, 2019, covering through March 22, 2020
• Sponsor to obtain permanent Certificate of Occupancy within two years of First Unit Closing
• Selling Agent address updated to Halstead Property Development LLC, 445 Park Avenue, 10th Floor, New York, NY 10022

Amendment 1 Jan 7, 2020

Purchase prices for 20 residential units have been revised, raising the total offering price to $44,095,000.00.

• Purchase prices updated for 20 residential units (Units 1A through 10B)
• Total offering price now $44,095,000.00
• Schedule A page 67 revised with new pricing
• Schedule A prices increased for 11 homes (median +2.8%): 4B $1,450,000 → $1,580,000; 4C $1,550,000 → $1,595,000; 5B $1,475,000 → $1,595,000; 5C $1,575,000 → $1,610,000; ...
• Schedule A prices decreased for 9 homes (median -3.4%): 3A $1,895,000 → $1,795,000; 4A $1,925,000 → $1,850,000; 5A $1,950,000 → $1,875,000; 6A $1,975,000 → $1,925,000; ...