75 Greene Avenue Condominium

Amendment 15 Mar 12, 2021

Financial disclosure update showing 1 unsold residential unit and 3 unsold storage units with current pricing, common charges, taxes, board composition, 2021 budget, and Temporary Certificate of Occupancy status.

• 1 unsold residential unit (1B) priced at $1,795,000.00 with monthly common charges of $1,253.24 and real estate taxes of $1,888.60
• 3 unsold storage units (SB14, SB15, SB16) priced at $13,000, $10,000, and $13,000 respectively
• Aggregate monthly common charges for unsold units approximately $1,325.19 and real estate taxes approximately $1,955.00
• Working Capital Fund approximately $40,000.00; Reserve Fund approximately $70,000.00
• 2021 condominium budget approved with total revenue of $252,882
• Temporary Certificate of Occupancy issued January 4, 2021; estimated cost for Permanent Certificate of Occupancy approximately $5,000.00
• Sponsor anticipates Permanent Certificate of Occupancy by or before September 2021
• Offering plan term extended 12 months from filing date

Amendment 14 Sep 10, 2020

Unit 1B price raised to $1,795,000.00 and Sponsor will pay all transfer taxes for that unit.

• Unit 1B offering price set to $1,795,000.00
• Sponsor to pay NYC Real Property Transfer Tax, NY State Real Estate Transfer Tax, and NY State Mansion Tax for Unit 1B

Amendment 13 Apr 22, 2020

Amendment updates financial disclosures, board members, 2020 budget, working capital and reserve fund amounts, and temporary certificate of occupancy status.

• 2 unsold residential units and 5 unsold storage units remain for sale, totaling $3,651,000
• Monthly common charges for unsold units approximately $2,450.43; monthly real estate taxes approximately $3,994.85
• Board designated: Michael Kessler (President), Adam Ditchfield (Treasurer), Ryan O'Conner, Troy Berman, Josh Young, Ron Luft (Assistant Secretaries)
• 2020 condominium operating budget approved at $252,882
• Working Capital Fund approximately $32,171.70 at M&T Bank
• Reserve Fund approximately $0.00 at M&T Bank
• Temporary Certificate of Occupancy issued March 23, 2020; estimated cost for Permanent Certificate of Occupancy approximately $5,000.00, anticipated by September 2021
• Offering plan term extended 12 months from filing date

Amendment 12 Jan 10, 2020

Offering price for Unit 1C changed to $1,695,000.00.

• Unit 1C price changed to $1,695,000.00
• Price change does not affect existing Purchase Agreements

Amendment 11 Nov 19, 2019

Offering price of Unsold Residential Unit 24 changed.

Amendment 6 Mar 15, 2019

Offering prices of certain unsold residential units have been changed.

• Offering prices of unsold residential units amended per Schedule A
• Price changes do not affect existing Purchase Agreements
• Estimated carrying costs updated for first year of operation (July 1, 2019 through June 30, 2020)

Amendment 5 Jan 10, 2019

Plan declared effective after four residential units (18% of units offered) were placed under Purchase Agreement.

• Plan declared effective by notice dated January 10, 2019
• Four (4) Residential Units with Purchase Agreements executed and accepted by Sponsor
• Updated FinCEN Geographic Targeting Order disclosure regarding cash purchases of $300,000 or more
• FinCEN GTO effective March 1, 2016 through May 15, 2019 (subject to change)

Amendment 4 Jan 7, 2019

Sponsor amended offering prices of certain unsold residential units.

• Offering prices of unsold units changed per amended Schedule A
• Price changes do not affect existing Purchase Agreements

Amendment 3 Dec 11, 2018

Amendment updates offering prices for certain unsold residential units effective December 11, 2018.

Amendment 2 Nov 5, 2018

Offering prices of certain unsold residential units are amended.

• Offering prices of unsold units changed per amended Schedule A
• Price changes do not affect existing Purchase Agreements
• Estimated carrying costs for July 1, 2019 through June 30, 2020 included

Amendment 1 September 2018

Amendment updates the condominium operating budget, unit prices and common charges, modifies closing fund contributions, discloses tax law changes, and establishes a no-smoking policy.

• First year of condominium operation changed to July 1, 2019 through June 30, 2020
• Schedule B budget updated; sponsor contributes $12,600.00 per year for first three years
• Schedule A amended: unit prices, common interest percentages, square footage, and common charges
• Estimated substantial completion date, unit square footage, and fixtures modified
• Working Capital Fund contribution at closing changed from two months to one month of common charges; one month added to Reserve Fund
• Tax Cuts and Jobs Act of 2017 disclosure: real estate and state/local tax deductions capped at $10,000; mortgage interest deductions available on mortgages up to $750,000
• No-smoking policy established: smoking prohibited in units, terraces, common elements, and within 15 feet of building; first violation results in warning letter, subsequent violations subject to fines
• Department of Law office address updated to 28 Liberty Street, 21st Floor, New York, New York 10005
• Schedule A prices increased for 1 home (median +4.2%): 5B $2,395,000 → $2,495,000