650 EAST 6TH STREET

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25,736 $ 29,957 Liabilities and Members' Equity Accounts payable and accrued expenses $ 22,444 $ 2,000 Total Liabilities 22,444 2,000 Members' Equity Working Capital 8,121 8,121 Members' Equity 95,171 19,836 Total Members' Equity 103,292 27,957 Total Liabilities and Members' Equity $ 125,736 $ 29,957 The accompanying notes are an integral part of these financial statements. 4

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650 East 6th Street Condominium Statements of Changes in Members' Equity For the Years Ended December 31, 2024 and 2023 Total Working Capital Members' Equity Balance as of Year End 2022 - $ - $ - Net Income (Loss) 19,836 - 19,836 Capital Contribution 8,121 8,121 - Balance as of Year End 2023 27,957 8,121 19,836 Net Income (Loss) 75,335 - 75,335 Capital Contribution - - - Balance as of Year End 2024 $ 103,292 $ 8,121 $ 95,171 The accompanying notes are an integral part of these financial statements. 6

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income (loss) for the period $ 75,335 $ 19,836 Changes in receivables (96,757) (28,974) Changes in accounts payable and accrued expenses 20,444 2,000 Working capital contribution - 8,121 TOTAL CASH FLOWS FROM OPERATING ACTIVITIES (978) 983 CASH FLOWS FROM INVESTING ACTIVITIES: CASH FLOWS FROM FINANCING ACTIVITIES: OTHER ACTIVITIES: Net cash increase (decreases) in cash and cash equivalents (978) 983 Cash and cash equivalents at beginning of period 983 - Cash and cash equivalents at end of period $ 5 $ 983 Supplemental disclosure of cash flow data Corporation Taxes Paid 25 - Cash and cash equivalents consist of the following: Cash: Operating - 983 Cash: Reserve 5 - Total Cash $ 5 $ 983 The accompanying notes are an integral part of these financial statements. 7

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le 28,974 Total Assets $ 29,957 Liabilities and Members' Equity Accounts payable and accrued expenses $ 2,000 Total Liabilities 2,000 Members' Equity Working Capital 8,121 Members' Equity 19,836 Total Members' Equity 27,957 Total Liabilities and Members' Equity $ 29,957 The accompanying notes are an integral part of these financial statements. 4

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650 East 6th Street Condominium Statement of Changes in Members' Equity For the Year Ended December 31, 2023 Total Working Capital Members' Equity Balance as of Year End 2022 $ - $ - $ - Net Income (Loss) 19,836 - 19,836 Capital Contribution 8,121 8,121 - Balance as of Year End 2023 $ 27,957 $ 8,121 $ 19,836 The accompanying notes are an integral part of these financial statements. 6

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PERATING ACTIVITIES: Net income (loss) for the period $ 19,836 Changes in receivables (28,974) Changes in accounts payable and accrued expenses 2,000 Working capital contribution 8,121 TOTAL CASH FLOWS FROM OPERATING ACTIVITIES 983 CASH FLOWS FROM INVESTING ACTIVITIES: CASH FLOWS FROM FINANCING ACTIVITIES: OTHER ACTIVITIES: Net cash increase (decreases) in cash and cash equivalents 983 Cash and cash equivalents at end of period $ 983 Supplemental disclosure of cash flow data Cash and cash equivalents consist of the following: Cash: Operating 983 Total Cash $ 983 The accompanying notes are an integral part of these financial statements. 7

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r from those estimates. The Association's governing documents do not require the accumulation of funds in advance of actual need to finance estimated future major repairs and replacements. Consistent with general practice in New York State, the Association has not promulgated a study to determine the remaining useful lives of the components of the building and estimates of the costs of major repairs and replacements that may be required. When funds are required for major repairs and replacements, the Association has the right to utilize available cash reserves, increase common charges, implement special assessments, or delay repairs and replacements until funds are available. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606). The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to custome

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which is the date the financial statements were available to be issued, for possible disclosure and recognition in the financial statements. Note 2. Working Capital Contribution The Association charges a working capital contribution of 2 months of the then current common charges upon the sale of a unit. Note 3. Management Agreement The Association is obligated under an annual agreement for the management of the property which amounted to $4,000 in 2023. 9

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r from those estimates. The Association's governing documents do not require the accumulation of funds in advance of actual need to finance estimated future major repairs and replacements. Consistent with general practice in New York State, the Association has not promulgated a study to determine the remaining useful lives of the components of the building and estimates of the costs of major repairs and replacements that may be required. When funds are required for major repairs and replacements, the Association has the right to utilize available cash reserves, increase common charges, implement special assessments, or delay repairs and replacements until funds are available. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606). The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to custome

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which is the date the financial statements were available to be issued, for possible disclosure and recognition in the financial statements. Note 2. Working Capital Contribution The Association charges a working capital contribution of 2 months of the then current common charges upon the sale of a unit. Note 3. Management Agreement The Corporation is obligated under an annual agreement for the management of the property which amounted to $12,000 in 2024 and $4,000 in 2023. 9

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10,000 Other (13) 5,000 Reserve Fund (14) 12,011 Total Expenses 132,125

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the following notes. 2) Total Income. The projected income of the Condominium is exclusive of any interest income that may be received from the Working Capital or the Reserve Funds to be established as of Closing. It may be expected that all or part of the Working Capital or Reserve Funds will be expended during the first or subsequent years of operation. Accordingly, such interest income cannot be determined with exactitude. Since such income does not reflect normally anticipated income from operations, the same has not been included in the estimated income for the first year of operation. 3) Expenses. Although the expenses set forth in the Budget have been apportioned among the Unit Owners in accordance with their respective Common Interest, the Sponsor (and after the Initial Closing, the Board) reserves the conditional right specially re -apportion one or more categories of expenses among Unit Owners to reflect special or exclusive availability of or benefit from s

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13) Other. This category of estimated miscellaneous expenses includes such items as administrative costs and overhead of the Condominium. 14) Reserve Fund. A Reserve Fund shall be established for the sole purpose of costs and expenses related to capital repairs, replacements, and improvements in accordance with the By -laws. The Reserve Fund amount is intended to equal approximately ten per cent (10%) of the expenses of the Condominium. 15) Total Expenses. The budget may be modified from time to time prior to the commencement of, or during Condominium operation in order to add or increase or eliminate or reduce one or items of operating expense. If additional funds are required over and above these funds, it may be necessary to increase Common Charges or specially assess Unit Owners. IN THE OPINION OF FARHAT REALTY MANAGEMENT, LLC, THE PROJECTED INCOME IS ADEQUATE TO MEET THE PROJECTED EXPENSES FOR THE 2025 YEAR OF CONDOMINIUM OPERATION. THE FOREGOING BUDGET, H

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obtain additional information regarding current Condominium business and affairs (including, without limitation, the current Common Charges and/or Special Assessments (if any), and other updates, happenings, or matters involving the Condominium). 11. CONDOMINIUM BOARD All of the members of the Condominium Board are affiliated with New Sponsor. New Sponsor controls the Condominium Board. New Sponsor will relinquish control of the Condominium Board on the earlier to occur of (i) the fifth anniversary of the First Closing, (ii) the Closing of Title to all Units offered for sale pursuant to the Plan, or (iii) the date on which New Sponsor otherwise exercises its right to relinquish control of the Condominium Board. Each of the members of the Condominium Board has an address c/o New Sponsor, Pines Street 39, Tel Aviv-Yafo, Israel. 12. FINANCIAL DISCLOSURE OF NEW SPONSOR The information set forth herein is a required disclosure of all offering plans for buildings in which the sp

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its. Owners are subject to various charges and assessments to fund the Association's operations. In addition, the Association may periodically impose special assessments and/or designate a portion of maintenance charges to provide funds for major repairs, replacements, and improvements. These charges and assessments are recognized as income by the Association when billed. The Association considers all receivables to be fully collectible and, accordingly, an allowance for uncollectible accounts is deemed unnecessary. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Association to make certain estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estima

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its. Owners are subject to various charges and assessments to fund the Association's operations. In addition, the Association may periodically impose special assessments and/or designate a portion of maintenance charges to provide funds for major repairs, replacements, and improvements. These charges and assessments are recognized as income by the Association when billed. The Association considers all receivables to be fully collectible and, accordingly, an allowance for uncollectible accounts is deemed unnecessary. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Association to make certain estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estima

PDF page 89 · financial statements as of 2024-12-31

income (loss) for the period $ 75,335 $ 19,836 Changes in receivables (96,757) (28,974) Changes in accounts payable and accrued expenses 20,444 2,000 Working capital contribution - 8,121 TOTAL CASH FLOWS FROM OPERATING ACTIVITIES (978) 983 CASH FLOWS FROM INVESTING ACTIVITIES: CASH FLOWS FROM FINANCING ACTIVITIES: OTHER ACTIVITIES: Net cash increase (decreases) in cash and cash equivalents (978) 983 Cash and cash equivalents at beginning of period 983 - Cash and cash equivalents at end of period $ 5 $ 983 Supplemental disclosure of cash flow data Corporation Taxes Paid 25 - Cash and cash equivalents consist of the following: Cash: Operating - 983 Cash: Reserve 5 - Total Cash $ 5 $ 983 The accompanying notes are an integral part of these financial statements. 7

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he Purchase Price by wire transfer unless New Sponsor offers, in New Sponsor’s sole discretion, to accept an official bank check. Any and all wire transfer fees charged by the initiating and/or receiving bank(s) shall be payable by Purchaser. All instruments (a) in payment of a Deposit shall be wired directly to the escrow account maintained by Escrow Agent (or, if New Sponsor offers to accept payment in the form of an official bank check, made payable directly to the order of “Starr Associates LLP, as Escrow Agent”) and (b) in payment of the Balance of the Purchase Price shall be wired to one or more accounts as directed by New Sponsor. In the event New Sponsor offers to accept payment in the form of an official bank check: (i) checks must be drawn or issued by a bank or trust company which is a member of the New York Clearinghouse Association, with the understanding that checks drawn on out-of-state or foreign

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he Purchase Price by wire transfer unless New Sponsor offers, in New Sponsor’s sole discretion, to accept an official bank check. Any and all wire transfer fees charged by the initiating and/or receiving bank(s) shall be payable by Purchaser. All instruments (a) in payment of a Deposit shall be wired directly to the escrow account maintained by Escrow Agent pursuant to the Plan (or, if New Sponsor offers to accept payment in the form of an official bank check, made payable directly to the order of “Starr Associates LLP, as Escrow Agent”) and (b) in payment of the Balance of the Purchase Price shall be wired to one or more accounts as directed by New Sponsor. In the event New Sponsor offers to accept payment in the form of an official bank check: (i) checks must be drawn or issued by a bank or trust company which is a member of the New York Clearinghouse Association, with the understanding that checks drawn on out-of-state or foreign banks will not be accepted; (ii) in the

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in any event subject to all terms and conditions relating to wires and bank checks set forth in subsection 4.2 of this Agreement. Any and all wire transfer fees charged by the initiating and/or receiving bank(s) shall be payable by Purchaser. 12. AGREEMENT NOT A LIEN OR ENCUMBRANCE No lien or encumbrance shall arise against the Property or the Unit as a result of this Agreement or any monies deposited hereunder, except as hereinafter set forth. In furtherance and not in limitation of the provisions of the preceding sentence, Purchaser agrees that the provisions of this Agreement are and shall be subject and subordinate to the lien of any mortgage heretofore or hereafter made, including, but not limited to, any construction or Building loan mortgage, and any advances heretofore or hereafter made thereon and any payments or expenses made or incurred or which hereafter may be made or incurred, pursuant to the terms thereof, or incidental thereto, or to protect the security th

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PERATING ACTIVITIES: Net income (loss) for the period $ 19,836 Changes in receivables (28,974) Changes in accounts payable and accrued expenses 2,000 Working capital contribution 8,121 TOTAL CASH FLOWS FROM OPERATING ACTIVITIES 983 CASH FLOWS FROM INVESTING ACTIVITIES: CASH FLOWS FROM FINANCING ACTIVITIES: OTHER ACTIVITIES: Net cash increase (decreases) in cash and cash equivalents 983 Cash and cash equivalents at end of period $ 983 Supplemental disclosure of cash flow data Cash and cash equivalents consist of the following: Cash: Operating 983 Total Cash $ 983 The accompanying notes are an integral part of these financial statements. 7

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which is the date the financial statements were available to be issued, for possible disclosure and recognition in the financial statements. Note 2. Working Capital Contribution The Association charges a working capital contribution of 2 months of the then current common charges upon the sale of a unit. Note 3. Management Agreement The Association is obligated under an annual agreement for the management of the property which amounted to $4,000 in 2023. 9

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which is the date the financial statements were available to be issued, for possible disclosure and recognition in the financial statements. Note 2. Working Capital Contribution The Association charges a working capital contribution of 2 months of the then current common charges upon the sale of a unit. Note 3. Management Agreement The Corporation is obligated under an annual agreement for the management of the property which amounted to $12,000 in 2024 and $4,000 in 2023. 9