9 Chapel Condominium (Nine Chapel)

Amendment 6 Jul 30, 2025

This amendment reports a renewed temporary certificate of occupancy, higher projected property taxes, and a second escrow account at IDB Bank for purchaser deposits.

• Temporary Certificate of Occupancy renewed by DOB as of June 5, 2025 (Exhibit I)
• 2025/26 property tax assessments approximately 40% higher than those projected in the last filed amendment
• Schedule of Unsold Units updated with taxes as of June 5, 2025 (Exhibit II)
• Additional escrow account established at IDB Bank, entitled "Marcus Attorneys PLLC Attny Escrow Acct"
• Additional escrow signatories designated as Guillermo Santiago and Philip Lavender
• Purchaser deposits in the additional account payable to "Marcus Attorneys PLLC, as Escrow Agent"
• Purchasers not notified of deposit within 15 business days may cancel within 90 days
• Deposit disputes must go to Expedited Arbitration administered by JAMS

Amendment 4 Oct 23, 2024

This amendment moves the first year of condominium operation to December 1, 2024 through November 30, 2025, updates the projected real estate taxes, adds a rescission right for buyers who signed before the amendment if the first closing is not held by March 31, 2025, and extends the plan for six months.

• First year of condominium operation now December 1, 2024 through November 30, 2025
• Anticipated annual real estate tax burden for the first year of operation: $517,145
• Real estate taxes for the 2025/2026 tax year expected to reflect full completion: $614,293 annual, based on post-completion assessed value of $4,913,556
• Purchasers who signed contracts before this amendment will be offered a right of rescission if the first unit closing does not occur by March 31, 2025
• Real estate taxes likely to increase in the second year of condominium operation
• Updated Schedules A and B and Certification of Adequacy of Budget attached as Exhibit I; common charges and Schedule B line items unchanged
• Offering plan extended for six months from the date of the amendment
• Anticipated completion of construction in November 2024

Amendment 3 Apr 15, 2024

Five more residential units (4A, 4B, 5B, 9B and 10B) now have accepted purchase agreements, so the plan is declared effective, and the architect's floor plans are updated with new unit numbers and mechanical closet notes that do not change any unit's size.

• Plan declared effective by notice dated April 8, 2024, after purchase agreements were accepted for five residential units (4A, 4B, 5B, 9B, 10B), constituting 18.52% of residential units offered
• Units 4A, 4B, 4C, 5B, 6B, 7B, 9B and 10B are listed as in contract as of April 8, 2024
• First unit closing will not occur until the plan is declared effective and this amendment is accepted for filing by the Department of Law
• Floor plans and unit numbers updated to new identifiers (for example, formerly 9A is now 10A, and formerly 11 and 12 are now PHA and PHB)
• Mechanical closets noted in Units 2C, 3C, 4C, 10A, PHA and PHB; a closet door removed in Unit 10A; no change to dimensions or square footage
• Changes do not require NYC Dept. of Buildings approval
• Addendum to the Architect's Report dated 03/28/24, updated floor plans and updated architect certification attached as Exhibit I; Sponsor's Affidavit attached as Exhibit B

Amendment 2 Mar 21, 2024

This second amendment raises the offering prices of 20 of the 27 listed homes, renumbers the units, replaces Schedule A, and makes no other changes to the plan.

• Offering prices raised for 20 of 27 homes; 7 unchanged
• Unit 11B (f/k/a 10B) price raised from $1,985,000 to $2,100,000
• Unit 7C (f/k/a 6C) price raised from $1,770,000 to $1,850,000
• Unit 6C (f/k/a 5C) price raised from $1,750,000 to $1,820,000
• Units renumbered, e.g., 2A (f/k/a 1A), PHB (f/k/a 11), PHA (f/k/a 12)
• Schedule A (Exhibit I) replaced, first year of operation April 1, 2024 - March 31, 2025
• No other changes to the Offering Plan

Amendment 1 Dec 19, 2023

This amendment lowers common charges after new utility estimates and a smaller reserve line, replaces the escrow agent and sponsor's closing counsel, and updates unit numbers, a risk disclosure, and a tax abatement disclosure.

• Common charges reduced to reflect the updated Schedule B
• Escrow Agent changed from Smith, Gambrell & Russell, LLP to Marcus Attorneys PLLC, which also replaces sponsor's counsel for Unit Closings
• Water and sewer projection updated to 1,489,200 gallons per year at $11.63 per 100 cubic feet, plus a 10% inflation allowance
• Common area electricity projection updated to 280,222 kilowatt hours per year, with an electricity line item of $72,808
• Capital Reserve Fund line item reduced from $27,000 to $25,500
• As-built unit identifiers renumbered per the table in Paragraph 3 and Exhibit I
• New special risk 47 added: appliance access panels may be smaller than the 30" x 30" minimum working space under NYC Mechanical Code 2022, section 306.1
• Real estate tax abatement disclosure added; sponsor makes no representation that the building or any unit will qualify