424w52 Condominium

Amendment 6 Oct 5, 2021

Offering prices for two units are increased.

• Unit 2 price changed to $1,950,000
• Unit 4 price changed to $2,150,000

Amendment 5 Jun 2, 2021

Building substantially complete with temporary certificates of occupancy issued; first unit closing projected for July 1, 2021.

• Building substantially complete with three temporary certificates of occupancy issued (January 13, April 12, and May 3, 2021)
• First unit closing/commencement of condominium operations projected for July 1, 2021
• Purchasers may rescind if first unit closing does not occur within twelve months of July 1, 2021
• Projected date of commencement tolled under New York Executive Order 202.18 plus 120 days (potentially extending to approximately October 23, 2021)
• Sponsor required to update projected date within 45 days after expiration of Executive Order 202.18

Amendment 4 Feb 10, 2021

Offering prices for all seven units are amended.

• Unit 1: $1,795,000
• Unit 2: $1,869,000
• Unit 3: $1,999,000
• Unit 4: $2,079,000
• Unit 5: $2,139,000
• Unit 6: $2,199,000
• Unit 7: $2,349,000
• Schedule A prices decreased for 7 homes (median -9.0%): 1 $1,850,000 → $1,795,000; 2 $1,995,000 → $1,869,000; 3 $2,250,000 → $1,999,000; 4 $2,300,000 → $2,079,000; ...

Amendment 3 Nov 12, 2020

Plan declared effective after sponsor accepted purchase agreements for two residential units constituting 28% of units offered.

• Plan declared effective
• Two residential units counted toward effectiveness requirement (28% of seven units offered)
• No material changes to first-year operating budget

Amendment 2 Jul 20, 2020

Sponsor's counsel and selling agent are replaced; Marcus Attorneys PLLC becomes counsel and escrow agent, Halstead Property Development Marketing LLC becomes selling agent.

• Marcus Attorneys PLLC (13 Greene Avenue, Brooklyn, NY 11238) replaces The Law Office of Hershy Itzkowitz, Esq. as Sponsor's counsel, escrow agent, and closing counsel
• Halstead Property Development Marketing LLC (445 Park Avenue, 10th Floor, New York, NY 10022) replaces Sponsor as Selling Agent
• Changes apply to purchase agreements executed from First Amendment date forward

Amendment 1 Mar 9, 2020

Amendment updates unit square footages and common interest percentages, revises building specifications, changes down payment terms, sets Unit 2 price, updates budget period, and assigns escrow agent and transfer tax responsibility to purchaser.

• Square footage of Unit 1 increased from 910 to 931; Unit 7 increased from 1325 to 1320 with 224 sq ft roof allocation
• Common interest percentages recalculated for all units
• Down payment changed from 10% to 5% at contract signing plus 5% at Condominium Declaration recording, minimum $5,000
• Unit 2 offering price set at $1,995,000.00
• Budget period updated to October 1, 2020 – September 30, 2021
• Escrow agent changed to Marcus Attorneys PLLC at 13 Greene Avenue, Brooklyn; escrow account at Bank of America, 76 Court Street, Brooklyn
• Purchaser required to pay NYC transfer tax (1.425% over $500,000; 1.4% under $500,000) and NYS documentary stamp and mansion taxes
• Building specifications corrected: gas supplier ConEdison, electric hot water heater, 150amp house panels, ceiling heights 8'-2" living room and 8'-0" kitchens, 26" kitchen sink, painted concrete meter room ceilings
• Schedule A prices decreased for 1 home (median -7.2%): 2 $2,150,000 → $1,995,000