129 MALCOLM X BOULEVARD

PDF page 2

R:\Cicero\129 Malcolm X Blvd (OP)\Amendments\1st Amendment\1st Amendment.v2 - New 1st Yr, Budget & Effectiveness.v2.docx 
3. The section of the Offering Plan entitled “Schedule B to the Declaration of Condominium ” is hereby 
amended to correct the following: 
a. The approximate square footage for the Units as set forth in Schedule B to the Declaration of 
Condominium is hereby revised to disclose the revised approximate square footage for the 
Units based on the revised floor plans contained herein this Amendment. 
 
The “Schedule B to the Declaration of Condominium” Section contained in the Plan, commencing on 
page 333 of the Offering Plan, has been deleted in its entirety and replaced with the Revised Schedule 
B, which is annexed hereto as Exhibit “B” and made a part hereof. 
 
AMENDED FLOOR PLANS 
 
3. The “Site Plans and Floor Plans” Section contained in Part II of the Offering Plan is hereby revised 
by the amended floor plans dated March 5, 2025. The amended floor plans showing revised layouts 
and gross square footage measurements for certain Units are annexed hereto as Exhibit “C” and 
made a part hereof. 
 
AMENDED ARCHITECT’S REPORT 
 
4. The “Description of Property and Building Specifications” (the “Report”) Section contained in Part II 
of the Offering Plan is hereby supplemented by the Addendum to the Report dated June 25, 2025 (the 
“Addendum to the Report”). The Addendum to the Report detailing and summarizing the changes to 
the Report, Units and Property, together with a certification by the Architect, is annexed hereto as 
Exhibit “D” and made a part hereof. The revision is for disclosures pertaining to revised landscaping, 
floor assemblies, exterior doors, hot water boilers, heating and air conditioning mechanicals, updated 
appliances and fixtures and certain revised square footage measurements.   
 
UPDATED PROJECTED FIRST YEAR OF CONDOMINIUM OPERATION 
The Plan is hereby amended to set forth an updated anticipated First Year of Condominium operation 
commencing July 1, 2025. If the First Unit Closing does not occur by June 30, 2026, Sponsor will 
amend the Offering Plan to offer a right of rescission to purchasers that entered into contract 
subsequent to the date of presentation of this Amendment. The projected real estate tax rates have been 
projected by DL Partners, 9 East 40th Street, 5th Floor, New York, NY 10016. A copy of DL Partners’ 
letter is annexed hereto as Exhibit “E” and made a part hereof.  
 
5. Special Risk numbered 26 in the Plan, as amended, is hereby revised to reflect that the First Year of 
Condominium operation is now estimated to commence July 1, 2025. Special Risk numbered 26, 
commencing on page 14 of the Plan are hereby deleted in its entirety and shall be replaced with the 
following: 
 
“The First Year of Condominium operation is estimated to be July 1, 2025 through June 30, 2026. As 
in any substantial renovation project, given the vagaries of the construction and renovation process, it 
is difficult to predict with precision the date Sponsor will first be able to close title to the Residential 
Units. Accordingly, it is a special risk of this Offering  Plan that the First Residential Closing may 
occur sooner or later than the projected First Year of Condominium operation and closing to certa in 
Residential Units may occur substantially before or after closings for other Residential Units.  
 

PDF page 3

R:\Cicero\129 Malcolm X Blvd (OP)\Amendments\1st Amendment\1st Amendment.v2 - New 1st Yr, Budget & Effectiveness.v2.docx 
The Sponsor anticipates that the first closing of a unit will occur by July 1, 2025. Purchasers will be 
offered a right of rescission if: (i) the actual date of closing of title to the first unit; or (ii) the projected 
date of closing of title to the first unit occurs later than December 31, 2025, twelve  (12) months after 
the projected date for the first closing. If the Plan is amended to provide for a  later projected date for 
the first closing, purchasers will be entitled to an offer of rescission if the  first closing occurs more 
than twelve (12) months beyond that amended, later date. 
 
However, if the first closing occurs before Ju ly 1, 2025, or within the twelve (12) month period  
thereafter, the Sponsor may schedule the closings of title to other units significantly later than such  
date. Unless your Purchase Agreement contains an outside closing date, the Sponsor is not  obligated 
to schedule your closing within any specified time frame or to ensure that closing of title  to your 
closing within any specified time frame or to ensure that closing of title to your Unit will occur by any 
date certain. PROSPECTIVE PURCHASERS SHOULD THEREFORE CAREFULLY CONSIDER 
SUCH RISKS IN THEIR DETERMINATION AS TO WHETHER TO PURCHASE A UNIT. See 
the Section of the Offering Plan titled “Description of Property and Improvements” in Part I of the  
Plan for further details.” 
 
6. The caption to Schedule A, located on page 52 of the Plan, as amended, is hereby revised to reflect a 
new anticipated First Year of Condominium operation commencing July 1, 2025. The caption shall 
now read as follows: 
“129 MALCOLM X BLVD 
LOCATED AT 129 MALCOLM X BLVD 
BROOKLYN, NEW YORK 11221 
REVISED SCHEDULE A 
 
Offering Prices and Related Information 
All Projected Charges are for the Twelve-Month Period 
Commencing July 1, 2025 and Ending June 30, 2026 (“First Year”)” 
 
  A Revised Schedule A is annexed hereto as Exhibit “A” and made a part hereof. 
 
7. The section of the Plan, as amended, entitled “Notes to Schedule A,” set forth commencing on page 
54, is hereby revised to reflect an updated anticipated First Year of Condominium operation 
commencing July 1, 2025. The first paragraph of Note 6 beginning on page 56 is hereby deleted in its 
entirety and replaced with the following: 
“These estimates as set forth in column numbered ( 6) are based upon the “Projected Budget  for the 
First Year of Condominium Operation,” which was prepared for the year commencing July 1, 2025  
and which will appear in Schedule B located in Part I of the Plan, hereinafter referred to as the “First 
Year.” Included in these charges, amongst other costs, are the cost of insurance for the Property, repairs 
& maintenance for the common areas, electric ity for the common areas, and gas and water usage for 
the Building. These charges do not include the cost of electricity for individual Units, which will be 
separately metered and billed by the utility company to each Unit Owner.” 
 
8. The section of the Plan, as amended, entitled “Notes to Schedule A,” set forth commencing on page 
54, is hereby revised to reflect an updated anticipated First Year of Condominium operation 

PDF page 4

R:\Cicero\129 Malcolm X Blvd (OP)\Amendments\1st Amendment\1st Amendment.v2 - New 1st Yr, Budget & Effectiveness.v2.docx 
commencing July 1, 2025. The first five paragraphs of Note 7 beginning on page 56 are hereby deleted 
in their entirety and replaced with the following: 
 “7. The estimates of real estate taxes due for each Residential Unit for the First Year of 
Condominium operation commencing on July 1, 2025 and ending June 30, 2026 (“First Year”) are 
based upon the 2025/2026 tax year which commences July 1, 2025. Estimates of real estate taxes due 
for the Residential Units are based upon (i) the projected 2025/2026 assessed valuation for the 
Property, as projected for 100% completion, as apportioned to all the Residential Units, and (ii) 
projected tax rates for the 2025/2026 t ax year. The apportioned and estimated aggregate taxable 
assessed valuation for all of the Residential Units, and the projected tax rates, have been projected by 
DL Partners, 9 East 40th Street, 5th Floor, New York, NY 10016. A copy of DL Partners’ letter is set 
forth in Part I of the Plan. DL Partners’ letter projects that the tax year aggregate assessed valuation 
during the First Year of Condominium operation shall be $108,490.00.  
The apportioned and estimated aggregate taxable assessed valuation for all of the Residential Units, 
and the projected tax rates, have been projected by DL Partners, 9 East 40 th Street, 5th Floor, New 
York, NY 10016. A copy of DL Partners’ letter is set forth in the “Post -Construction Assessment” 
section of Part I of the Plan. It has been assumed by DL Partners that the assessed valuation for the 
2025/2026 tax year will reflect the completed structure. Therefore, for the purpose of projected real 
estate tax es for the Residential Units during the Projected First Year of Condominium operation 
commencing on July 1, 2025 and ending June 30, 2026 (“First Year”), DL Partners has assumed a 
completion valuation of the Property for the 2025/2026 tax year. 
 
However, as the projected completion date for the Building of on or about  August 1, 2025 is prior to 
the January 5, 2026 taxable status date for the 2026/2027 tax year, the actual total assessment for the 
Property reflective of completion and full one hundred percent (100%) valuation will likely be 
effective as of July 1, 2026 for the 2026/2027 tax year, which is after  the projected First Year of 
Condominium operation. See Note 8 below for an additional discussion of the total increase in assessed 
valuation and real estate taxes for the Property. 
As stated above, Sponsor’s projection of real estate taxes for all of the Units for the First Year of 
Condominium operation are based upon projections by DL Partners, which projected the total taxable 
assessed valuation for the Units prior to completion of renovations for the 2025/2026 tax year, assumed 
to be effective July 1, 2025, as $108,490.00. 
 
It is the twelve (12) months of the projected 2025/2026 tax year and the projected Actual Total 
Assessment of the Property, as apportioned to all of the Units, upon which real estate taxes for the 
First Year of Condominium operation have been based.  
 
Therefore, the real estate taxes for all of the Units for the First Year of Condominium  Operation are 
projected to be approximately $13,561.00.” 
 
9. The section of the Plan, as amended, entitled “Notes to Schedule A,” set forth commencing on page 
54, is hereby revised to reflect an updated anticipated First Year of Condominium operation 
commencing July 1, 2025. Note 8 beginning on page 59 is hereby del eted in its entirety and replaced 
with the following: 
“8. Upon 100% completion of the construction renovation by Sponsor, which is assumed to be prior 
to January 5, 2026 for assessment purposes, and the implementation of the post -construction