74 Grand Street Condominium

Amendment 5 Nov 21, 2023

Fifth Amendment updates initial closing details, board members, sponsor's unsold units status, and selling agent information.

• Initial Closing occurred October 20, 2023 for Unit 5
• Working Capital Account of approximately $3,021 established at Flagstar Bank
• Sponsor sold 1 Residential Unit; 4 Residential Units remain unsold
• Commercial Unit remains unsold
• Monthly Common Charges for Unsold Residential Units approximately $7,368
• Monthly Common Charges for Unsold Commercial Unit approximately $2,125
• Loan outstanding balance $14,000,000 with expiration date December 1, 2024
• Living Real Estate Group LLC d/b/a Living New York is new Selling Agent

Amendment 4 Oct 3, 2023

First Year of Condominium Operation moved to October 1, 2023, with rescission rights offered and remote closings permitted.

• First Year of Condominium Operation now projected to commence October 1, 2023
• Final Certificate of Occupancy issued September 21, 2023
• Schedule A updated with current purchase prices, real estate taxes, and Common Charges
• Purchasers offered 15-day rescission right from Presentation Date
• Real estate tax section superseded by Footnote 5 to updated Schedule A
• Remote closings permitted through title company
• First Closing and substantial completion date amended to October 1, 2023

Amendment 3 Jul 11, 2023

New attorneys and escrow agent replace prior parties, sponsor closing fees are established, and FinCEN disclosure is added.

• Starr Associates LLP replaces Rosenberg & Estis, P.C. as Escrow Agent and Attorneys for Sponsor
• Escrow account moved to Webster Bank at 420 Lexington Avenue, New York, NY 10170
• Sponsor closing fees: $3,500 for document prep and closing supervision, $250 for ACRIS transfers
• Additional fees: $500 for storage license, $1,500 for assignment or name changes, $1,250 per rescheduled closing
• Mortgage financing fee $750, tax deferred exchange fee $750, contract amendment fee $1,500
• FinCEN Geographic Targeting Order disclosure added for cash purchases over $300,000 threshold

Amendment 2 2023

Plan effectiveness confirmed with updated tax projections and zoning changes removing artist live-work requirements.

• Plan declared effective as of November 14, 2022
• Zoning changed to M15/R7X district and SNX special purpose district; AIR (artist live-work) requirements no longer apply
• Residential units now permitted for general residential use only
• Real estate tax projections approximately unchanged per November 9, 2022 tax consultant letter
• First Year Budget remains unchanged
• TCO issuance projected for approximately March 1, 2023
• Selling Agent: The Corcoran Group at 590 Madison Avenue, New York, NY 10022
• Plan effective period extended six months from amendment date

Amendment 1 Mar 29, 2022

First Year of Condominium Operation moved to July 1, 2022; Schedule A prices, unit designations, and storage unit terms revised; managing agent changed to Livingston Management Services LLC; property report and architect certification updated; two new special risks disclosed.

• First Year of Condominium Operation projected to commence July 1, 2022
• Total Offering Price amended to $33,340,000 (5 Residential Units $28,165,000, 5 Storage Unit Licenses $175,000, 1 Commercial Unit $5,000,000)
• Individual unit offering prices revised in Schedule A
• Storage units: 5 units at $35,000 each, approximately 24 square feet each, basement location, license basis only
• Managing agent changed to Livingston Management Services LLC, 225 West 35th Street 14th Floor, New York, NY 10001
• Property Report revised with updated floor plans and appliance details
• Special Risk 33: Penthouse storage space cannot be used as habitable space
• Special Risk 34: Winder stair treads non-compliant with NYC Building Code, less than 6 inches deep in certain locations