450 Grand Avenue Condominium (Four Fifty Grand)

Amendment 5 Jan 16, 2025

Sponsor replaced the selling agent with Serhant LLC, changed legal counsel to Marans Newman Tsolis & Nazinitsky LLC, established new escrow arrangements, and extended the offering term by six months.

• First unit closed January 23, 2024; temporary Certificate of Occupancy issued December 12, 2023, expires March 24, 2025
• Selling agent replaced with Serhant LLC (372 West Broadway, New York, NY 10012)
• Sponsor's attorney changed to Marans Newman Tsolis & Nazinitsky LLC (29 Broadway, Suite 2400, New York, NY 10006)
• New escrow agent: Marans Newman Tsolis & Nazinitsky LLC at Capital One Bank (299 Park Avenue, New York, NY 10171)
• Sponsor's attorney legal fees: $3,150.00 at closing, plus $350.00 if purchaser obtains mortgage financing
• Units 4A, 5C, 5G, 6B, 6D, and 7B unsold as of amendment submission date
• Offering term extended by six months from amendment date
• $10,000.00 escrowed for permanent Certificate of Occupancy; additional $10,000.00 to be held back from next unit closing

Amendment 3 Jan 5, 2024

Prices updated for 18 residential units and 6 storage spaces.

• Unit 2A price: $1,478,700.00
• Unit 2C price: $1,590,000.00
• Unit 2D price: $773,800.00
• Unit 2E price: $1,404,500.00
• Unit 2G price: $805,600.00
• Unit 3A price: $1,393,900.00
• Unit 3F price: $805,600.00
• Unit 4A price: $1,404,500.00
• Schedule A prices increased for 28 homes (median +6.0%): 2A $1,395,000 → $1,478,700; 2C $1,500,000 → $1,590,000; 2D $720,000 → $773,800; 2E $1,325,000 → $1,404,500; ...

Amendment 2 August 2023

Amendment declares the plan effective, revises the board structure, removes in-unit washers/dryers, relocates the outdoor kitchen to the roof, and extends the offering term.

• Plan declared effective; six units sold constituting 15% of building units
• Board of Managers revised to seven members: one non-residential and six residential
• Units no longer include stacked washer and dryer; hookups provided for owner-purchased units
• Prior purchasers receive washer and dryer of equal or better quality
• Outdoor common kitchen moved from 6th floor terrace to main roof terrace
• Offering term extended by six months from amendment date
• Separate water sub meter added for all commercial units

Amendment 1 Jul 18, 2023

Amendment changes sponsor's closing attorney and escrow agent to Nussbaum Lowinger LLP, moves down payments to a non-interest-bearing IOLA account, and updates purchase prices for 16 units.

• Closing attorney for Purchase Agreements changed from Marans Newman Tsolis & Nazinitsky LLC to Nussbaum Lowinger LLP
• Escrow agent changed to Nussbaum Lowinger LLP with IOLA account at Flagstar Bank
• Down payments no longer earn interest
• FDIC insurance limited to $250,000 per depositor
• Purchase prices updated: Unit 2D $730,000, 2F $750,000, 2G $760,000, 2H $770,000, 3D $740,000, 3F $760,000, 3G $770,000, 3H $780,000, 4G $780,000, 5B $780,000, 6A $1,760,000, 6B $1,475,000, 6C $1,775,000, 6D $1,525,000, 7A $1,775,000, 7C $1,850,000