Charlotte Of The Upper West Side

Amendment 11 Feb 14, 2025

Amendment discloses first closing completed, confirms condominium declaration and floor plans filed, and extends offering term by six months.

• First closing of Unit #6 took place December 16, 2024
• Sponsor has closed on Unit #5, Unit #6, and Unit #PH1
• Final certificate of occupancy issued March 28, 2024
• Condominium Declaration recorded November 14, 2024
• Working Capital Fund balance approximately $97,571.17
• Unsold units: Unit #GAR, Unit #3, Unit #4, Unit #PH2
• Offering term extended six months from filing date

Amendment 10 Sep 9, 2024

Plan declared effective based on receipt of two purchase agreements representing 28% of the seven units.

• Plan declared effective upon receipt of 2 Purchase Agreements for 28% of 7 units
• Down payment requirement reduced to 10% (from 15% initially)

Amendment 8 Oct 13, 2023

Extends the offering period by six months, updates the temporary certificate of occupancy, and sets the commencement of First Year of Condominium Operations to January 1, 2024.

• Offering term extended for six (6) months from filing date
• First Year of Condominium Operations commencement date set to January 1, 2024 through December 31, 2024
• Updated temporary certificate of occupancy issued (dated 10/16/2023)
• Updated Schedule B budget with total income and expenses of $532,140
• Common Charges allocated 82.1333% to Residential Units and 17.8667% to Retail Units
• Schedule A prices decreased for 1 home (median -11.1%): 3 $9,950,000 → $8,850,000

Amendment 7 Oct 6, 2023

Offering prices updated for four units and Douglas Elliman appointed as new Selling Agent.

• Garden unit price changed to $11,995,000
• Unit 4 price changed to $10,225,000
• Unit 5 price changed to $10,500,000
• PH2 price changed to $16,995,000
• Douglas Elliman Real Estate appointed as new Selling Agent effective immediately
• Schedule A prices decreased for 4 homes (median -4.0%): Garden $12,500,000 → $11,995,000; 4 $10,870,000 → $10,225,000; 5 $11,000,000 → $10,500,000; PH 2 $17,500,000 → $16,995,000

Amendment 6 May 19, 2023

Extends the offering plan term for six months and provides an updated temporary certificate of occupancy.

• Offering plan term extended for six (6) months following the filing date of this amendment
• Updated temporary certificate of occupancy issued (CO Number: 1032071-0000004, dated 05/04/2023)

Amendment 5 Nov 8, 2022

First Closing and condominium operations postponed from August 1, 2022 to January 1, 2023; updated budget, real estate taxes, and offering prices for first year of operations.

• First Closing and Condominium Operations now anticipated January 1, 2023 (previously August 1, 2022)
• Budget for First Year of Condominium Operation revised and restated (Schedule B)
• Real Estate Taxes for First Year of Condominium Operations updated
• Offering Prices and Related Information updated (Schedule A)
• Temporary Certificate of Occupancy issued September 28, 2022
• Term of Plan extended six (6) months following Filing Date
• No Purchase Agreements entered into as of amendment date
• Schedule A prices increased for 1 home (median +6.1%): PH 2 $16,500,000 → $17,500,000
• Schedule A prices decreased for 1 home (median -7.4%): 3 $10,740,000 → $9,950,000

Amendment 4 Sep 13, 2022

Revised offering price for Residential Unit No. 3.

Amendment 3 2022

Third amendment updates the condominium's first-year operating budget, energy costs, real property tax projections, and construction status, with an expected temporary certificate of occupancy within 60 days.

• First Year of Condominium Operation projected to commence July 1, 2022 (revised from April 1, 2020)
• Schedule B budget for First Year revised; total expenses $578,904 ($533,773 residential, $45,131 retail)
• Individual Energy Costs (Schedule B-1) restated per May 10, 2022 estimate by GEA Consulting Engineers
• Real property tax projections amended per May 14, 2022 letter from Hucke and Associates
• Building substantial completion achieved; temporary certificate of occupancy expected within 60 days
• No Purchase Agreements entered into for any Residential Units as of amendment date
• Schedule A updated to reflect revised budget and tax projections
• Offering plan term extended for six (6) months from amendment filing date
• Schedule A prices decreased for 1 home (median -5.7%): PH 2 $17,500,000 → $16,500,000

Amendment 2 Oct 25, 2021

This amendment extends the offering period, tolls the first closing deadline by 554 days due to COVID-19 executive orders, and eliminates gross-up calculations for New York State Real Estate Transfer Tax.

• First closing deadline extended to September 23, 2022 (tolled 554 days due to COVID-19 Executive Order)
• Purchasers may rescind if first closing does not occur by September 23, 2022
• New York State Real Estate Transfer Tax no longer requires gross-up of taxable consideration (effective July 1, 2021)
• Mansion Tax calculation updated to reflect elimination of gross-up requirement
• Offering plan extended for six months following filing date of this amendment

Amendment 1 Apr 12, 2021

Amendment discloses new sponsor counsel and escrow agent, updates floor plans for two non-residential units and penthouse unit PH2, and provides updated Schedule A pricing.

• Federman Steifman LLP becomes Sponsor's counsel and Escrow Agent (220 East 42nd Street, New York, NY 10017; Hamid Soltani, Esq.)
• Floor plans revised for Cellar, Ground Floor, Retail Unit 2, Retail Unit 1, and PH2; non-residential units reconfigured but total square footage unchanged
• PH2 kitchen layout reconfigured with no change to total square footage
• Updated Schedule A reflects reconfiguration of two non-residential units
• Revised Purchase Agreement form reflects new counsel and Escrow Agent
• Revised Interim Lease Agreement form reflects new counsel as notice party
• Amendment does not extend the Plan