52 Wooster Street Condominium

Amendment 11 Sep 13, 2017

Eleventh Amendment documents first closing, temporary certificate of occupancy, working capital fund balance, and extends the plan for six months.

• First Closing of Unit 4 occurred on June 30, 2017
• Temporary Certificate of Occupancy issued June 28, 2017; expires September 26, 2017
• Security deposit to guarantee Permanent Certificate of Occupancy: $78,000.00
• Working Capital Fund balance: $3,966.86
• Condominium Board members: Amir Chaluts (President), Jane Gol (Vice President and Secretary), Ben Gordon (Associate Vice President and Treasurer)
• First Unit Owners Meeting to be held approximately 30 days after first anniversary of First Closing or when Sponsor closes 90% of Residential Units
• Plan extended for six (6) months from September 13, 2017

Amendment 10 Jun 23, 2017

Tenth Amendment corrects square footage figures for the Roof level and PH Unit to match recorded Declaration and tax lot drawings.

• Revised Floor Plan for Roof level with corrected square footage for Limited Residential Common Element, General Common Element, and Total Gross Area
• New Schedule A with corrected square footage figures for PH Unit
• Plan extended for six (6) months from date of Amendment

Amendment 9 2017

This amendment extends the offering plan for six months, updates the FinCEN Geographic Targeting Order expiration date to August 22, 2017, records condominium documents, and allows purchasers to waive the 30-day closing notice requirement.

• Plan extended for six (6) months
• FinCEN Geographic Targeting Order expiration extended to August 22, 2017
• Declaration recorded April 24, 2017 at CRFN 2017000155941
• Floor Plans recorded April 24, 2017 at CRFN 2017000155942
• Purchasers may waive requirement to receive 30 days' notice of closing date

Amendment 8 Jan 11, 2017

Eighth amendment to 52 Wooster Street Condominium offering plan clarifying building systems, reducing commercial unit access rights, increasing common charges, and extending the plan.

• Virtual doorman system installed with 24/7 remote access monitoring
• Mortgage increased to $16,246,000.00
• Commercial unit access rights reduced due to new two-door elevator installation
• Storage Bins renamed to Storage Rooms
• Plan declared effective January 6, 2017
• First closing anticipated March 1, 2017
• Common charges increased from $122,486.00 to $123,286.00 annually due to virtual doorman system upgrade
• Plan extended for six months from amendment date

Amendment 7 Dec 29, 2016

Price of one residential unit increased by $100,000.

• Schedule A prices increased for 1 home (median +1.9%): 2 $5,350,000 → $5,450,000

Amendment 6 Oct 24, 2016

Price increased for one penthouse unit.

• Unit PH price raised from $13,000,000.00 to $14,800,000.00
• Total price increase: $1,800,000.00
• Schedule A prices increased for 1 home (median +13.8%): PH $13,000,000 → $14,800,000

Amendment 5 Sep 22, 2016

Fifth Amendment updates building specifications, revises floor plans, and extends the offering plan.

• Architect's report corrected: 5 steel double-walled direct vent flues for gas fireplaces (not 6), not usable for wood fire
• Second floor railing is brick, not glass
• Parcel storage cabinet added for residential units adjacent to mailboxes
• Elevator buttons are momentary pressure with electronic key fob for each floor
• Two automatic single-slide single-side opening doors
• Revised floor plans for first, fifth, and sixth floors
• Building floor-to-ceiling heights floor plan revised
• FinCEN Geographic Target Order extended to February 23, 2017; expanded geographic areas effective August 28, 2016

Amendment 4 2016

Common Charges reduced and Schedule A/B budgets revised; property description updated as of February 29, 2016.

• Common Charges reduced from $137,041 to $122,486 (decrease of $14,555) for first year September 1, 2016–August 31, 2017
• Management Fee reduced to $12,000 annually
• Revised Schedule A with reduced projected monthly Common Charges and carrying charges
• Updated Description of Property and Building Condition dated February 29, 2016
• Plan extended for six (6) months from amendment date
• Financial Crimes Enforcement Network disclosure requirement (FinCEN Geographic Target Order effective March 1, 2016)

Amendment 3 Dec 10, 2015

Common charges reduced and building employee hours changed to contracted super/porter service 10 hours per week.

• Total estimated Common Charges for September 1, 2016 through August 31, 2017 reduced from $185,138 to $137,041 (net decrease of $48,097)
• Super/porter services contracted for 10 hours per week at $25 per hour plus tax
• Revised Schedule A with reduced projected monthly Common Charges and reduced projected total monthly carrying charges
• Revised Schedule B - First Year's Budget with updated projections approved by Budget Expert Jordan Cooper & Associates Inc.

Amendment 2 Oct 20, 2015

Amendment updates closing timeline to September 1, 2016, revises real estate tax projections, and adds budget and rescission terms.

• First Closing of Residential Units expected on or about September 1, 2016
• First Year of Condominium Operation expected to commence on or about September 1, 2016
• Real estate taxes for Residential Units first year estimated at $220,943; Commercial Unit at $33,015
• Assessed value for 2016/2017 tax year estimated at $1,750,000; for 2017/2018 tax year at $2,750,000
• Schedule B - First Year's Budget redated with updated projections from Jordan Cooper & Associates Inc.
• Purchasers who signed prior to amendment filing entitled to rescission if first Closing does not occur by December 31, 2016
• Updated letter from Tuchman, Komgold, Weiss, Liebman & Gelles, LLP on tax projections
• Revised Floor Plans, Site Plan, and Condominium Documents addressing storage bins included

Amendment 1 Sep 22, 2015

Prices increased for three residential units.

• Unit 2 price raised from $4,900,000.00 to $5,350,000.00
• Unit 3 price raised from $5,000,000.00 to $5,500,000.00
• Unit 4 price raised from $5,100,000.00 to $5,600,000.00
• Total price increase: $1,450,000.00
• Schedule A prices increased for 3 homes (median +9.8%): 2 $4,900,000 → $5,350,000; 3 $5,000,000 → $5,500,000; 4 $5,100,000 → $5,600,000