Symon Condominium

Amendment 7 Apr 21, 2023

Unit 4D price increased to $1,850,000.00, sponsor financial disclosures updated, board control transferred to unit owners, and 2023 budget certified.

• Unit 4D offering price set to $1,850,000.00
• Sponsor relinquished board control on May 26, 2023
• Common Charges waiver period expired October 31, 2021; collection began November 1, 2021
• Monthly Common Charges for Unit 4D approximately $1,419.08
• Monthly real estate taxes for Unit 4D approximately $1,979.82 (2022/2023 fiscal year)
• Unit 4D currently rented at $8,600.00 per month
• 2023 Condominium Budget certified; projected income and expenses both $987,259
• Temporary Certificate of Occupancy issued March 7, 2023; estimated cost for Permanent Certificate approximately $75,000.00

Amendment 6 Jul 28, 2021

Sixth Amendment offers non-residential units for sale and updates sponsor financial disclosures, board members, escrow banks, and New York State real estate transfer tax treatment.

• Retail Unit and Community Facility Unit now offered for sale with prices and common charges listed
• Sponsor designates Andrew Bradfield (President), Jamie Anthony (Vice President), and Richard Diego (Secretary/Treasurer) as initial board members
• Escrow banks expanded to include Bank Leumi USA and Citibank, N.A.; David Lu, Esq. added as signatory
• Working Capital Fund as of July 1, 2021 is approximately $84,040.08; Reserve Fund is $24,489.75
• Most recent Temporary Certificate of Occupancy issued May 14, 2021; estimated cost for Permanent Certificate of Occupancy is approximately $75,000.00
• New York State Real Estate Transfer Tax no longer requires gross-up of consideration; rates are 0.4% for residential under $3,000,000 and 0.65% for $3,000,000 or more

Amendment 5 Jan 6, 2021

First Unit Closing occurred on November 30, 2020; 12 units conveyed to purchasers, 47 units remain unsold, with condominium declaration recorded and temporary certificate of occupancy issued.

• First Unit Closing held November 30, 2020; 12 residential units conveyed to purchaser as of December 29, 2020
• 47 unsold residential units remain, 10 subject to executed purchase agreements
• Condominium Declaration recorded November 24, 2020; Amended and Restated Declaration recorded November 24, 2020
• Temporary Certificate of Occupancy issued November 5, 2020; estimated cost to obtain Permanent Certificate of Occupancy approximately $75,000.00
• Purchaser deposits of at least $75,000.00 held in escrow with Seiden & Schein, P.C.
• Purchase Agreement amended to permit remote closings and virtual inspections; notices may be sent by electronic mail to purchaser's attorney
• Sponsor waiving collection of common charges as of First Unit Closing; sponsor paying actual operating expenses
• Working Capital Fund approximately $29,416.92 as of December 29, 2020; Reserve Fund $4,069.83 as of December 3, 2020

Amendment 4 Jul 31, 2020

Real estate tax projections and Schedule B are updated for a projected First Year of Condominium Operation beginning October 1, 2020.

• Real Estate Tax Projection Opinion updated to June 25, 2020 with new projections for 2020/2021 and 2021/2022 tax years
• Schedule A amended to reflect updated real estate tax projections
• Schedule B amended with new projected First Year of Condominium Operation commencing October 1, 2020
• Common Charges on Schedule B remain unchanged
• Schedule A prices increased for 5 homes (median +1.4%): 2C $1,325,000 → $1,345,000; 3C $1,340,000 → $1,360,000; 7C $1,430,000 → $1,450,000; 8C $1,450,000 → $1,470,000; ...

Amendment 3 Feb 10, 2020

Amendment adds storage bins and parking spaces available for purchase, with pricing and terms defined in new schedules.

• 30 Storage Bins offered for sale on cellar level
• 30 Bicycle Spaces offered (3 cellar, 27 first floor)
• Automated parking system with 8 spaces plus 1 ADA space offered for sale
• Storage Bin Licenses must close simultaneously with Residential Unit purchase
• Storage Bins available no later than 12 months after First Unit Closing
• Parking Space Licenses must close simultaneously with Residential Unit purchase
• Semi-automated parking garage on first floor accessible from Schermerhorn Street

Amendment 2 Jan 22, 2020

Purchase prices of five residential units were increased.

• Unit 2C price changed to $1,345,000.00
• Unit 3C price changed to $1,360,000.00
• Unit 7C price changed to $1,450,000.00
• Unit 8C price changed to $1,470,000.00
• Unit 9C price changed to $1,490,000.00
• Price changes do not affect existing Purchase Agreements

Amendment 1 Oct 28, 2019

This is an affidavit declaring the offering plan effective, not an amendment to the plan itself.