Vandewater

Amendment 29 Jun 26, 2026

This amendment raises the purchase price of Unit 6H to $2.450,000.00 and sets the Total Purchase Price of the offering at $389,730,000.00.

• Purchase price of Unit 6H set to $2.450,000.00 (Schedule A, page 70)
• Total Purchase Price of the Offering now $389,730,000.00
• No other material changes to the offering plan

Amendment 28 Feb 4, 2026

Financial update for 19 unsold residential units and parking/storage spaces, 2026 budget adoption, Board of Managers composition change, and FinCEN Geographic Targeting Order compliance requirements.

• 19 residential units remain unsold with offering prices ranging from $1,900,000 to $3,800,000
• 2025/2026 monthly common charges for unsold units range from $1,478.41 to $2,636.09
• 2026 fiscal year budget attached as Exhibit A
• Sponsor relinquished control of Board of Managers on January 7, 2026
• Parking Spaces 43, 44, 45, and 46 rented by Sponsor for approximately $2,700 monthly aggregate
• FinCEN Geographic Targeting Order effective October 10, 2025 incorporated into Purchase Agreement paragraph 37
• GTO applies to legal entity purchasers buying for $300,000 or more without bank financing using cash or check methods

Amendment 27 Nov 4, 2025

Prices of 4 units raised; 6 units offered with free parking spaces through January 15, 2026; total offering price now $389,780,000.00

• Unit 3E price raised to $2,200,000.00
• Unit 7H price raised to $2,475,000.00
• Unit 8H price raised to $2,500,000.00
• Unit 9H price raised to $2,600,000.00
• 6 units offered with included parking spaces at no additional cost through January 15, 2026
• Total offering price now $389,780,000.00
• Schedule A prices decreased for 4 homes (median -1.9%): 3E $2,295,000 → $2,200,000; 7H $2,495,000 → $2,475,000; 8H $2,600,000 → $2,500,000; 9H $2,650,000 → $2,600,000

Amendment 26 Aug 13, 2025

Financial update listing 25 unsold residential units with current offering prices, common charges, and tax information as of July 1, 2025, plus 2025 budget and 2024 audited financials.

• 25 unsold residential units with offering prices ranging from $1,900,000 to $4,150,000
• Monthly common charges range from $1,426.01 to $2,542.65
• 2025/2026 real estate taxes with abatement range from $1,265.63 to $2,256.68 monthly
• Multiple unsold storage room licenses in sub cellar and cellar
• Multiple unsold parking space licenses
• 2025 budget shows operating surplus of $340 and overall surplus of $71,919
• 9 parking spaces currently rented by Sponsor generating approximately $6,075 monthly
• No unsold units currently mortgaged

Amendment 25 May 28, 2025

Prices for 4 units raised; parking space licenses offered free with purchase of 4 units through September 30, 2025.

• Unit 3E price raised to $2,295,000.00
• Unit 7H price raised to $2,495,000.00
• Unit 16A price raised to $2,295,000.00
• Unit 18A price raised to $3,375,000.00
• Total offering price now $390,045,000.00
• Free parking space licenses with units 7H, 16A, 18A, 21A for purchases by September 30, 2025
• Schedule A prices decreased for 4 homes (median -2.2%): 3E $2,375,000 → $2,295,000; 7H $2,550,000 → $2,495,000; 16A $2,300,000 → $2,295,000; 18A $3,500,000 → $3,375,000

Amendment 24 May 2, 2025

Prices of certain residential units increased; total offering price now $390,310,000.00.

• Purchase prices for 5 residential units raised to $1,900,000, $1,950,000, $1,900,000, $1,925,000, and $2,000,000
• Total offering price revised to $390,310,000.00

Amendment 23 Dec 9, 2024

Amendment updates unit prices, common charges, and tax information as of January 1, 2025, confirms permanent Certificate of Occupancy issued August 13, 2024, and clarifies Coop-Condo Abatement eligibility.

• Permanent Certificate of Occupancy issued August 13, 2024
• 35 residential units remain unsold as of January 1, 2025
• Unit offering prices listed with updated monthly common charges and real estate taxes for 2024/2025 and 2025/2026
• Eligible unit owners acquiring before January 5, 2025 qualify for 17.5% real estate tax abatement starting July 1, 2025
• 36 storage room licenses remain unsold
• 30 parking space licenses remain unsold
• Operating budget for year beginning January 1, 2025 attached
• Audited financial statements for period ending December 31, 2023 attached

Amendment 22 May 3, 2024

Amendment updates prices for three units, adds closing credits for two to four bedroom units through September 1, 2024, and provides current unsold unit pricing and building financials as of May 3, 2024.

• Unit 8B price changed to $1,225,000.00, Unit 29B to $2,550,000.00, Unit 32B to $4,150,000.00
• Total offering price now $390,710,000.00
• Closing credits: $75,000 for two bedroom, $100,000 for three bedroom, $150,000 for four bedroom units (valid through September 1, 2024)
• 45 residential units remain unsold as of May 3, 2024
• 41 storage rooms and 32 parking spaces remain unsold
• Parking space monthly license fee is $330.45
• 2024 operating budget totals $3,541,510 in income and expenses
• Sponsor currently controls the residential board with four sponsor-affiliated members
• Schedule A prices decreased for 3 homes (median -2.4%): 8B $1,260,000 → $1,225,000; 29B $2,575,000 → $2,550,000; 32B $4,250,000 → $4,150,000

Amendment 21 Jan 17, 2024

Purchase prices for 23 residential units have been updated.

• Purchase prices updated for 23 units (16F, 4B, 8G, 6B, 11B, 2C, 3A, 3E, 4A, 9C, 10C, 27B, 28B, 4H, 3H, 10H, 27A, 28A, 17A, 21A, 31A, 31B, 32A)
• Total offering purchase price now $390,870,000.00
• Schedule A prices decreased for 23 homes (median -4.1%): 2C $1,750,000 → $1,700,000; 3A $1,900,000 → $1,825,000; 3E $2,600,000 → $2,375,000; 3H $2,350,000 → $2,250,000; ...

Amendment 20 Oct 13, 2023

Updates unsold unit prices, common charges, and real estate tax estimates for the 2023/2024 and 2024/2025 tax years; explains Coop-Condo Abatement eligibility and requirements.

• Offering prices for 52 unsold units range from $1,060,000.00 to $4,400,000.00
• Monthly common charges listed for all unsold units
• 2023/2024 current monthly and annual real estate taxes without abatement provided
• 2024/2025 estimated monthly real estate taxes with and without abatement listed
• 43 storage room licenses remain unsold
• 34 parking space licenses remain unsold
• Unsold units not eligible for 2023/2024 Coop-Condo Abatement as Sponsor owned them on January 5, 2023
• Unit owners acquiring prior to January 5, 2024 eligible for 17.5% real estate tax abatement starting July 1, 2024

Amendment 19 Mar 22, 2023

Purchase prices increased for 31 residential units, and escrow account banks changed to First Republic Bank or ConnectOne Bank.

• Purchase prices increased for 31 units (2A through 29B); total offering price now $393,555,000.00
• Escrow accounts moved to First Republic Bank (10 Columbus Circle) or ConnectOne Bank (551 Madison Avenue)
• Escrow agent is D'Agostino, Lederman, Landesman, Rivera & Miraglia, LLP with seven designated signatories
• Schedule A prices decreased for 32 homes (median -6.7%): 2A $1,975,000 → $1,875,000; 3A $2,050,000 → $1,900,000; 3H $2,500,000 → $2,350,000; 4A $2,075,000 → $1,925,000; ...

Amendment 18 Jul 28, 2022

Prices for 2 units raised, parking space licenses offered free with purchase of 10 units through December 31, 2022, and unsold unit pricing updated.

• Unit 10D price raised to $1,245,000.00, Unit 12D to $1,255,000.00; total offering price now $399,170,000.00
• Free parking space licenses offered with purchase of 10 units (2A through 32B) if agreement signed by December 31, 2022
• 73 unsold units listed with offering prices from $950,000.00 to $5,850,000.00
• Monthly common charges for unsold units range from $539.06 to $2,400.65
• Estimated monthly real estate taxes 2022/2023 for unsold units range from $930.45 to $4,143.72
• Architect of record certification dated March 11, 2022; PCO work cost $656,767.00
• Temporary certificate of occupancy issued September 1, 2022
• First annual unit owner meeting to elect new board within 30 days after 75% of units conveyed, 90% common interest closed, or 2 years after first unit closing

Amendment 17 Jun 28, 2022

Purchase prices for 15 residential units have been changed.

• Unit 2C price changed to $1,750,000.00
• Unit 3C price changed to $1,775,000.00
• Unit 4C price changed to $1,800,000.00
• Unit 8C price changed to $1,875,000.00
• Unit 9C price changed to $1,900,000.00
• Unit 10C price changed to $1,925,000.00
• Unit 11C price changed to $1,950,000.00
• Total Purchase Price of Offering now $399,090,000.00
• Schedule A prices increased for 12 homes (median +1.4%): 2C $1,725,000 → $1,750,000; 3C $1,750,000 → $1,775,000; 3D $1,145,000 → $1,150,000; 4C $1,775,000 → $1,800,000; ...
• Schedule A prices decreased for 2 homes (median -2.5%): 2A $2,025,000 → $1,975,000; 10C $2,075,000 → $1,925,000

Amendment 16 Jul 13, 2021

Purchase prices updated for 27 residential units and parking space licenses; total offering price now $398,815,000.00.

• Purchase prices updated for 27 residential units (units 2C through 27D)
• Total offering price revised to $398,815,000.00
• Schedule A-2 parking space license prices revised
• Unsold units now total $247,920,000.00 (62.2074% of offering)
• Monthly common charges for unsold units: $141,970.09
• Monthly estimated real estate taxes for unsold units: approximately $247,407.18
• Outstanding loan principal balance as of December 1, 2021: $4,457,276
• Loan maturity date January 5, 2022 with right to extend to January 2023
• Schedule A prices increased for 18 homes (median +1.5%): 2C $1,700,000 → $1,725,000; 2D $1,140,000 → $1,200,000; 3C $1,725,000 → $1,750,000; 3D $1,130,000 → $1,145,000; ...

Amendment 15 Feb 9, 2021

First unit closing completed, temporary certificate of occupancy issued, escrow account and working capital fund established, common charges collection delayed, 177 units remain unsold with prices and terms listed.

• First unit closing (Unit 8F) occurred on December 23, 2020
• Temporary certificate of occupancy issued December 3, 2020, valid through March 3, 2021
• Permanent certificate of occupancy required within two years of first unit closing
• Escrow account balance as of February 5, 2021 was approximately $10,409,242.10
• Architect estimated $9,842,759.00 needed to obtain permanent certificate of occupancy
• Working Capital Fund of $10,903.47 established, funded by two months common charges per unit
• Sponsor waived common charges collection; unit owners to make payments instead during delay period
• 177 residential units remain unsold, with offering prices ranging from $940,000 to $2,710,000

Amendment 14 Nov 5, 2020

Updates the First Year of Condominium operation to December 1, 2020 through November 30, 2021, with revised real estate tax projections.

• First Year of Condominium operation revised to commence December 1, 2020
• First Unit Closing projected within December 1, 2020 through November 30, 2021
• Aggregate real estate taxes for First Year projected at approximately $3,286,284.00
• Estimated post-construction assessed valuation projected at $28,500,000.00 with 13.11% tax rate
• Final Transitional assessed valuation set at $23,769,810.00 with 12.473% tax rate for 2020/2021
• Schedule A revised to reflect updated First Year and projected Real Estate Taxes
• Purchasers have rescission right if first closing does not occur within 12 months after December 1, 2020
• Schedule A prices increased for 85 homes (median +5.7%): 2B $1,120,000 → $1,170,000; 2D $1,055,000 → $1,140,000; 3B $1,135,000 → $1,185,000; 3D $1,065,000 → $1,130,000; ...

Amendment 13 Mar 27, 2020

Floor plans revised for appliance and bedroom changes; Schedule A updated for Unit 24D; force majeure protections added for Sponsor and Purchaser.

• Unit 24D floor plan revised to two bedrooms
• Closets enlarged in Units 17G, 18G, 19G, 20G, 21G, 22G, 23G
• Heat pumps eliminated in Units 3H–9H; added in Units 10H–12H and 14H–16H
• Schedule A updated to reflect Unit 24D bedroom count
• Appliances in certain units changed per revised Architect's Report
• Unit 25D floor plan caption updated
• Force majeure clause added: Sponsor and Purchaser excused from performance during acts of God, pandemics, government orders, and similar events
• Rescission rights delayed until expiration of Tolling Period plus equal Delay Period

Amendment 8 Feb 11, 2019

Purchase prices increased for 13 residential units on Schedule A; total offering price revised to $397,190,000.00.

• Unit 3F price raised to $940,000.00
• Unit 4F price raised to $950,000.00
• Unit 5F price raised to $960,000.00
• Unit 6F price raised to $970,000.00
• Unit 7F price raised to $980,000.00
• Unit 8F price raised to $990,000.00
• Unit 9F price raised to $1,000,000.00
• Total offering price now $397,190,000.00

Amendment 7 Dec 14, 2018

Amendment revises unit bedroom counts, square footages, floor plans, building specifications, and common charges budget.

• Units 26A, 27A, 28A, 29A changed to 3 bedrooms and 2.5 bathrooms
• Units 26B, 27B, 28B, 29B changed to 2 bedrooms and 2.5 bathrooms
• Sponsor to amend DOB-approved building plans (filed March 16, 2018) and resubmit by May 2019 with estimated 8-week approval timeline
• No unit closings permitted until amended DOB approval obtained
• Mezzanine floor redesignated as 2nd Floor or Floor 2
• Revised common charges due to updated elevator maintenance projections
• Multiple floor plans revised for layout and square footage changes across units 2-33
• FinCEN disclosure requirements for legal entity purchasers with cash transactions $300,000+ (effective November 17, 2018 through May 15, 2019)

Amendment 6 Dec 11, 2018

Purchase prices for 40 residential units are updated, with new total offering price of $396,540,000.00.

• Purchase prices updated for 40 units including 30A ($5,850,000.00), 24B ($5,650,000.00), 30B ($5,085,000.00), 3E ($2,600,000.00), 17E ($2,875,000.00), 170 ($3,200,000.00), and others
• Total purchase price of offering now $396,540,000.00

Amendment 5 Nov 27, 2018

Purchase prices for 22 residential units are increased.

• Prices for units 2D through 23D (except 13D) raised between $1,140,000 and $1,355,000
• Total purchase price of offering revised to $393,570,000.00

Amendment 4 Nov 9, 2018

Purchase prices for 27 residential units are increased, raising the total offering price to $392,540,000.00.

• Purchase prices increased for units 3F through 16F (prices from $920,000 to $980,000)
• Purchase prices increased for units 3G through 16G (prices from $1,150,000 to $1,300,000)
• Total offering price now $392,540,000.00

Amendment 3 Oct 16, 2016

Purchase prices increased for 13 residential units; total offering price revised to $391,060,000.00.

• Unit 20: $1,085,000.00
• Unit 30: $1,095,000.00
• Unit 40: $1,105,000.00
• Unit 50: $1,115,000.00
• Unit 60: $1,125,000.00
• Unit 70: $1,135,000.00
• Unit 80: $1,145,000.00
• Total offering price now $391,060,000.00

Amendment 2 Sep 25, 2018

Purchase prices for 40 residential units are increased.

• Purchase prices updated for units 2D through 23D and 3F through 16F on Schedule A
• Total purchase price of offering revised to $390,880,000.00

Amendment 1 Sep 7, 2018

Purchase prices for 13 residential units have been increased.

• Purchase prices increased for units 3F through 12F, 14F, 15F, and 16F
• Total offering purchase price is now $390,315,000.00