533 Pacific Street Condominium (Post House)

Amendment 4 May 15, 2023

Amendment updates post-closing disclosures, corrects board quorum provisions, adjusts prices for 3 units, and extends the plan term by 6 months.

• First Unit Closing occurred March 30, 2023
• Temporary Certificate of Occupancy issued March 1, 2023, set to expire May 30, 2023; Sponsor expects permanent Certificate by end of calendar year
• $10,000.00 posted as security for obtaining permanent Certificate of Occupancy
• Declaration recorded February 14, 2023
• 34 units unsold as of April 5, 2023
• Board quorum corrected to one (1) Non-Residential and two (2) Residential members
• Unit 2D price $999,900.00, Unit 9B price $3,650,000.00, Unit PHB price $4,650,000.00
• Plan term extended six (6) months from amendment date

Amendment 3 Feb 7, 2023

Floor plans revised to reflect as-built conditions, Schedule A corrected for unit areas, off-site storage lot numbers corrected, infrared sauna and kitchen appliances specified, and plan term extended by six months.

• Unit PHA and PHB Schedule A corrected: Unit PHA no longer includes Unit T1 area (402 SF) as Limited Common Element; Unit PHB no longer includes Unit T2 area (358 SF) as Limited Common Element
• Off-site storage easement lot numbers corrected: Lots 58 and 60 share refuse room on Lot 60, Lot 58 has exclusive storage room access on Lot 60
• Garden Unit LCE Garden area now 612 SF
• Unit 7B now 1,092 SF
• Unit 7E now 1,586 SF
• Unit 10B now 1,819 SF
• Terraces T1 now 427 SF and T2 now 327 SF
• Infrared sauna added to cellar recreation area: SoloCarbon model H2B/H1B/H1D, 7'3" deep × 10'8" wide, max 194°F, one-hour timer, ADA accessible

Amendment 2 Nov 30, 2022

Plan declared effective with 20 units sold; utility costs updated with wine cooler removal; Unit 4F balcony added to Schedule A; plan term extended 6 months.

• Plan declared effective: 20 units (48%) sold to bona fide purchasers
• Schedule B-1 utility costs revised: wine cooler costs removed from units 8E, 8F, 9A, 9F
• Schedule A corrected: Unit 4F balcony (160 SF) added as Limited Common Element
• Common Interest Percentages updated per Real Property Law Section 339-i
• Plan term extended by 6 months

Amendment 1 Jun 17, 2022

Amendment corrects property tax projections, discloses ICAP abatement for commercial units, updates floor plans to reflect as-built conditions, and modifies architect specifications.

• Property tax projections corrected; previous figures were erroneous
• Commercial unit 2023/2024 tax liability $62,674, reduced to $9,971 with ICAP abatement
• Community facility unit 2023/2024 tax liability $6,182, reduced to $984 with ICAP abatement
• ICAP abatement expected for 25 years, decreasing over time, beginning 2023/2024 tax year
• Floor plans revised: Unit 9B reduced by 10 square feet to 1,870 total; Garden Unit door relocated; Unit 8E terrace door opens inward; kitchen layouts revised for Units 5A and 10A
• Kitchens do not meet ADA clearance; 28" stoves protrude into required galley or U-shaped kitchen clearances; Sponsor will replace stove at closing upon purchaser request
• Architect Report updated: cellar reading room now craft room; gas metered by National Grid with two common meters; garden areas use pavers on pedestals instead of natural grass
• New York State Real Estate Transfer Tax calculation revised effective July 1, 2021
• Schedule A prices increased for 41 homes (median +12.7%): Garden $2,650,000 → $2,750,000; 2A $2,195,000 → $2,400,000; 2B $975,000 → $1,125,000; 2C $899,000 → $979,000; ...