216 CALYER STREET

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ions: In accordance with the Condominium’s offering plan, all first-time purchasers must contribute an amount equal to two months’ common charges as working capital at closing. 4. Income Taxes: For Federal tax purposes, the Condominium may annually elect to be taxed as a homeowners’ association pursuant to Section 528 of the Internal Revenue Code, or as a regular corporation. Under Section 528, the Condominium is taxed on its non-exempt function income, such as interest earnings, at a flat rate of 30%, and the use of net operating loss deduction is not permitted. For the years ended December 31, 2025 and 2024, the Condominium elected to be taxed as a homeowners’ association. New York State (NYS) and New York City (NYC) generally treat Condominiums as a regular corporation, subject to NYS and NYC corporation tax. Generally accepted accounting principles requires evaluation of the tax positions taken or expected to be taken in the course of preparing the Condominium’s tax returns to de

PDF page 54 · financial statements as of 2024-12-31

tions: In accordance with the Condominium’s offering plan, all first-time purchasers must contribute an amount equal to two months’ common charges as working capital at closing. 4. Income Taxes: For Federal tax purposes, the Condominium may annually elect to be taxed as homeowners’ association pursuant to Section 528 of the Internal Revenue Code, or as a regular corporation. Under Section 528, the Condominium is taxed on its non-exempt function income, such as interest earnings, at a flat rate of 30%, and the use of net operating loss deduction is not permitted. For the years ended December 31, 2024 and 2023, the Condominium elected to be taxed as a homeowners’ association. New York State (NYS) and New York City (NYC) generally treat Condominiums as a regular corporation, subject to NYS and NYC corporation tax. Generally accepted accounting principles requires evaluation of the tax positions taken or expected to be taken in the course of preparing the Condominium’s tax returns to deter

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tions: In accordance with the Condominium’s offering plan, all first-time purchasers must contribute an amount equal to two months’ common charges as working capital at closing. 4. Income Taxes: For Federal tax purposes, the Condominium may annually elect to be taxed as homeowners’ association pursuant to Section 528 of the Internal Revenue Code, or as a regular corporation. Under Section 528, the Condominium is taxed on its non-exempt function income, such as interest earnings, at a flat rate of 30%, and the use of net operating loss deduction is not permitted. For the years ended December 31, 2023 and 2022, the Condominium elected to be taxed as a homeowners’ association. New York State (NYS) and New York City (NYC) generally treat Condominiums as a regular corporation, subject to NYS and NYC corporation tax. Generally accepted accounting principles requires evaluation of the tax positions taken or expected to be taken in the course of preparing the Condominium’s tax returns to deter

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nse, as payment of an equivalent portion of the New Sponsor Deficit. In addition, on April 27, 2026, New Sponsor made a deposit of $40,000 into the working capital account of the Condominium, with an account name of “Belvedere VI Condominium”, A/C# 1501447087, being held at Flagstar Bank, 26 Court Street, Brooklyn, New York, for use toward working capital, a reserve for repairs or other appropriate purposes as may be determined by the Board. While New Sponsor controls the Board, the Working Capital will not be used to reduce Common Charges. As of April 30, 2026, a total balance of $50,406.52 is being held. 9) Special Assessment for Condominium Reserves. In addition to the $40,000 contribution by New Sponsor described above, the Condominium will be imposing a Special Assessment in the amount of $60,000.00 in connection with the replenishment of the Condominium’s reserves, for a total Condominium reserve of $100,000. The Special Assessment shall be payable by all Unit Own

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Total Repair and Maintenance: $10,593 3. Utilities: Gas- $9,750 Electric- $4,275 Water and Sewer- $5,140 Total Utilities: $19,165 4. Annual Reserve Fund- $6000 Total Operating Costs/ CAM Charges: $66,933

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payments accelerated — balance paid in full on or before unit closing. Other owners: monthly payments over 36 months, no interest. Purpose: Replenish reserve fund after $100,300 in capital improvements (HVAC, water heaters, renovations).

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it findings, and certain internal control related matters that we identified during the audit. Omission of Required Supplementary Information about Future Major Repairs and Replacements Management has omitted the information about the estimates of future costs of major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Financial Accounting Standards Board, which considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information. Floral Park, New York November 3, 2025

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tions: In accordance with the Condominium’s offering plan, all first-time purchasers must contribute an amount equal to two months’ common charges as working capital at closing. 4. Income Taxes: For Federal tax purposes, the Condominium may annually elect to be taxed as homeowners’ association pursuant to Section 528 of the Internal Revenue Code, or as a regular corporation. Under Section 528, the Condominium is taxed on its non-exempt function income, such as interest earnings, at a flat rate of 30%, and the use of net operating loss deduction is not permitted. For the year ended December 31, 2022, the Condominium elected to be taxed as a homeowners’ association. New York State (NYS) and New York City (NYC) generally treat Condominiums as a regular corporation, subject to NYS and NYC corporation tax. Generally accepted accounting principles requires evaluation of the tax positions taken or expected to be taken in the course of preparing the Condominium’s tax returns to determine wheth

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it findings, and certain internal control related matters that we identified during the audit. Omission of Required Supplementary Information about Future Major Repairs and Replacements Management has omitted the information about the estimates of future costs of major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Financial Accounting Standards Board, which considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the December 10, 2025

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it findings, and certain internal control related matters that we identified during the audit. Omission of Required Supplementary Information about Future Major Repairs and Replacements Management has omitted the information about the estimates of future costs of major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Financial Accounting Standards Board, which considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information. January 2, 2026

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dit findings, and certain internal control related matters that we identified during the audit. Omission of Required Supplementary Information about Future Major Repairs and Replacements Management has omitted the information about the estimates of future costs of major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Financial Accounting Standards Board, which considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information. Floral Park, New York April 20, 2026

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is approximately 74% of the common interest of the Condominium Association for both years. The Sponsor is billed and pays both common charges and any special assessments with respect to the units it owns on the same basis as other unit owners. The total amount the Sponsor owed the Condominium as of December 31, 2025 and 2024 was $128,599 and $100,378, respectively. 6. Future Major Repairs and Replacements: The Condominium omitted a study to determine the remaining useful lives of the components of property and estimates of the costs of major repairs and replacements that may be required in the future. The Board has also not developed a plan to fund those needs. When replacement funds are required for major repairs and replacements, the Condominium has the right to increase regular common charges, pass special assessments, or delay major repairs and replacements until funds are available. The effect on future assessments has not been determined at this time.

PDF page 54 · financial statements as of 2024-12-31

is approximately 74% of the common interest of the Condominium Association for both years. The Sponsor is billed and pays both common charges and any special assessments with respect to the units it owns on the same basis as other unit owners. The total amount the Sponsor owed the Condominium as of December 31, 2024 and 2023 was $100,378 and $68,300, respectively. 6. Future Major Repairs and Replacements: The Condominium omitted a study to determine the remaining useful lives of the components of property and estimates of the costs of major repairs and replacements that may be required in the future. The Board has also not developed a plan to fund those needs. When replacement funds are required for major repairs and replacements, the Condominium has the right to increase regular common charges, pass special assessments, or delay major repairs and replacements until funds are available. The effect on future assessments has not been determined at this time.

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is approximately 74% of the common interest of the Condominium Association for both years. The Sponsor is billed and pays both common charges and any special assessments with respect to the units it owns on the same basis as other unit owners. The total amount the Sponsor owed the Condominium as of December 31, 2023 and 2022 was $68,300 and $20,562., respectively. 6. Future Major Repairs and Replacements: The Condominium omitted a study to determine the remaining useful lives of the components of property and estimates of the costs of major repairs and replacements that may be required in the future. The Board has also not developed a plan to fund those needs. When replacement funds are required for major repairs and replacements, the Condominium has the right to increase regular common charges, pass special assessments, or delay major repairs and replacements until funds are available. The effect on future assessments has not been determined at this time.

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hting, new exterior glass and repainting of the façade at the lobby entrance, at a total projected cost of $128,599. In lieu of the Board imposing a special assessment against all Unit Owners for their pro rata share of the cost of the Lobby Renovation Project, New Sponsor has agreed to pay for the work at its sole expense, as payment of an equivalent portion of the New Sponsor Deficit. In addition, on April 27, 2026, New Sponsor made a deposit of $40,000 into the working capital account of the Condominium, with an account name of “Belvedere VI Condominium”, A/C# 1501447087, being held at Flagstar Bank, 26 Court Street, Brooklyn, New York, for use toward working capital, a reserve for repairs or other appropriate purposes as may be determined by the Board. While New Sponsor controls the Board, the Working Capital will not be used to reduce Common Charges. As of April 30, 2026, a total balance of $50,406.52 is being held. 9) Special Assessment for Condominium Reserves. In

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4 HF 18511833v.7 the full amount owed with respect to the Special Assessment for the Unit being conveyed to the Purchaser. 10) Closing Costs and Adjustments. The Section in Part I of the Plan entitled Closing Costs and Adjustments is hereby amended to reflect the following: Closing Fees: All legal costs, fees and expenses charged by each Purchaser’s attorney shall be the sole responsibility of such Purchaser. In addition, each Purchaser shall also be responsible for payment of the following fees to New Sponsor’s attorney for contracts and closings, JH Heiberger PLLC (“New Sponsor’s Closing Counsel”), in connection with the closing of title to such Purchaser’s Unit: (i) for each Residential Unit, the sum of $3,500 shall be payable to New Sponsor’s Closing Counsel as a per unit base closing fee; (ii) if New Sponsor, in its sole discretion, consents to a Purchaser’s request for an assignment of the Agreement, or for the addition, deletion or substitution of names on the

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7 units, which is approximately 74% of the common interest of the Condominium Association. The Sponsor is billed and pays both common charges and any special assessments with respect to the units it owns on the same basis as other unit owners. The total amount the Sponsor owed the Condominium as of December 31, 2022 was $20,562. 6. Future Major Repairs and Replacements: The Condominium omitted a study to determine the remaining useful lives of the components of property and estimates of the costs of major repairs and replacements that may be required in the future. The Board has also not developed a plan to fund those needs. When replacement funds are required for major repairs and replacements, the Condominium has the right to increase regular common charges, pass special assessments, or delay major repairs and replacements until funds are available. The effect on future assessments has not been determined at this time.