873 Pacific Street Condominium

Amendment 14 Sep 19, 2019

Purchase price changed for Unit J to $1,499,000.00, raising total offering price to $14,714,000.00.

• Unit J purchase price set to $1,499,000.00
• Total offering price now $14,714,000.00

Amendment 13 Jul 19, 2019

Financial update on three unsold units with offering prices, common charges, and real estate taxes; extension of offering plan period for twelve months.

• Three residential units remain unsold: 1A ($1,599,000), 2A ($1,525,000), and 2B ($1,550,000)
• Monthly common charges for unsold units: 1A $468.68, 2A $439.30, 2B $439.30
• Projected monthly real estate taxes: 1A $645.92, 2A $605.42, 2B $605.42
• Working Capital Fund balance: $5,274.50
• Offering plan period extended for twelve months from amendment date
• Permanent certificate of occupancy obtained (CO Number 321185980F, effective 05/22/2019)

Amendment 12 Jun 13, 2019

Unit 2B purchase price increased to $1,550,000.00, raising total offering price to $14,814,000.00.

• Unit 2B price changed to $1,550,000.00
• Total offering price now $14,814,000.00

Amendment 11 May 20, 2019

Purchase prices for units 1A and 2A were changed, raising the total offering price to $14,859,000.00.

• Unit 1A price changed to $1,599,000.00
• Unit 2A price changed to $1,525,000.00
• Total offering price now $14,859,000.00
• Schedule A prices decreased for 2 homes (median -3.1%): 1A $1,650,000 → $1,599,000; 2A $1,725,000 → $1,525,000

Amendment 10 Mar 22, 2019

Unit 12A purchase price changed to $1,595,000.00, raising total offering price to $14,980,000.00.

• Unit 12A purchase price set to $1,595,000.00
• Total Purchase Price of Offering now $14,980,000.00

Amendment 9 2019

First unit closing occurred; six units remain unsold with updated prices and common charges; Schedule A and Declaration of Condominium revised.

• First unit closing (Unit 3B) occurred on March 4, 2019
• Temporary certificate of occupancy issued December 20, 2018
• Sponsor escrowed $10,000.00 for permanent certificate of occupancy
• Six residential units remain unsold: 1A, 2A, 2B, 3A, 4A, 4B
• Unsold unit prices range from $1,595,000.00 to $2,450,000.00
• Monthly common charges for unsold units range from $439.30 to $586.22
• Working Capital Fund balance as of amendment date: $937.36
• Sponsor's address changed to 20 West 20th Street, Suite 803, New York, NY 10011
• Schedule A prices increased for 8 homes (median +10.0%): 1A $1,595,000 → $1,650,000; 1B $1,795,000 → $1,975,000; 2A $1,495,000 → $1,725,000; 2B $1,495,000 → $1,595,000; ...

Amendment 8 Jan 3, 2019

Plan declared effective upon execution of purchase agreements for 2 units, exceeding 25% threshold.

• Offering Plan declared effective
• 2 residential units purchased (units 1B and 3B)
• FinCEN Geographic Targeting Order disclosure for cash purchases $300,000 or more

Amendment 7 Jan 2, 2019

Purchase prices for three residential units are changed, raising the total offering price to $15,110,000.00

• Unit 1A price changed to $1,650,000.00
• Unit 2B price changed to $1,595,000.00
• Unit 4B price changed to $2,295,000.00
• Total Purchase Price of the Offering is now $15,110,000.00

Amendment 6 Nov 30, 2018

Purchase prices for two units raised; total offering price adjusted to $15,265,000.00.

• Unit 1A price raised to $1,695,000.00
• Unit 2B price raised to $1,650,000.00
• Total offering price now $15,265,000.00

Amendment 5 2018

Unit 1B's square footage is revised to include a new storage space at the cellar level, and schedules and floor plans are updated accordingly.

• Unit 1B gross square footage increased to 1,752 sq. ft. to include 27 sq. ft. cellar storage space
• Schedule A revised with updated Unit 1B measurements
• Schedule B revised with updated Unit 1B measurements and limited common elements
• Floor plans revised to show Unit 1B storage space at cellar level
• Offering plan effective period extended six months from amendment date
• No material changes to Common Charges or first-year projected budget

Amendment 4 Oct 16, 2018

Unit 3B purchase price raised to $1,670,000.00, increasing total offering price to $15,395,000.00.

• Unit 3B purchase price changed to $1,670,000.00
• Total Purchase Price of Offering now $15,395,000.00

Amendment 3 Sep 26, 2018

Corcoran Group replaces the prior selling agent, and the plan is extended for six months.

• Selling agent changed to Corcoran Group at 888 Seventh Avenue, New York, NY 10106
• No material changes to Common Charges or projected budget
• No lawsuits or proceedings affecting the offering
• First unit closing has not yet occurred
• Sponsor current on all financial obligations
• Plan effective period extended six months from amendment date

Amendment 2 Jun 7, 2018

Real estate tax projections revised based on final 2018/2019 tax assessments and updated valuations.

• Revised Schedule A with updated estimated real estate taxes for First Year of Condominium operation (January 1, 2019 - December 31, 2019)
• First Year real estate taxes for all Units estimated at $60,961.00
• Post-construction real estate taxes upon 100% completion projected at approximately $118,318.00
• Post-construction total assessed valuation for all Units projected by Aaron Valuation Inc. at approximately $917,760.00
• Tax projections based on final 2018/2019 taxable assessed valuation of $27,948.00 and projected 2019/2020 assessment of $917,760.00
• Projected tax rate of 12.892% for both 2018/2019 and 2019/2020 tax years

Amendment 1 May 18, 2018

Purchase prices for 8 residential units are increased, raising the total offering price to $15,450,000.00.

• Purchase prices of 8 residential units revised upward
• Total Purchase Price of Offering now $15,450,000.00
• Schedule A offering prices on page 46 updated