TWENTY-SEVENTH AMENDMENT CONDOMINIUM OFFERING PLAN 50 WEST STREET CONDOMINIUM 50 WEST STREET NEW YORK, NEW YORK Dated:

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1 TWENTY-SEVENTH AMENDMENT TO CONDOMINIUM OFFERING PLAN 50 WEST STREET CONDOMINIUM 50 WEST STREET NEW YORK, NEW YORK Dated: Ldoc

2 TWENTY-SEVENTH AMENDMENT TO CONDOMINIUM OFFERING PLAN 50 WEST STREET CONDOMINIUM 50 WEST STREET NEW YORK, NEW YORK Dated: l.doc

3 TABLE OF CONTENTS SECTION INTRODUCTION PLAN DECLARED EFFECTIVE ADDITIONAL ESCROW BANKS AND AUTHORIZED SIGNATORY BUILDING ART PROGRAM DEFINITIONS NO MATERIAL CHANGES INCORPORATION OF OFFERING PLAN... 2 EXHIBIT EXHIBIT A-AFFIDAVIT IN SUPPORT OF DECLARING THE PLAN EFFECTIVE l.doc

4 TWENTY-SEVENTH AMENDMENT TO CONDOMINIUM OFFERING PLAN INTRODUCTION This Twenty-Seventh Amendment modifies and supplements the tenns ofthe Condominium Offering Plan for the premises known as 50 West Street Condominium ("Condominium") located at 50 West Street, New York, New York ("Building"), dated May 16,2014 ("Plan''), and should be read in conjunction with the Plan, as previously amended. The tenns of this Amendment are as follows: 1. PLAN DECLARED EFFECTIVE Sponsor hereby declares the Plan effective based upon the receipt and acceptance of Ill Purchase Agreements from bona fide purchasers representing 54% of the 205 Units offered for sale under the Plan. A copy of the "Affidavit in Support of Declaring the Plan Effective" is annexed to this Amendment as Exhibit "A". 2. ADDITIONAL ESCROW BANKS AND AUTHORIZED SIGNATORY All Deposits made by Purchasers following the Filing Date of this Amendment will be placed in a Master Escrow Account maintained by Escrow Agent at eitl1er (i) PNC Bank located at 340 Madison Avenue, New York, NY!0173 ("Original Escrow Bank") as reflected in tl1e Plan or (ii) M&T Bank located at 350 Park Avenue, 6'" Floor, New York, NY, I 0022 ("First Additional Escrow Bank"), or (iii) Wells Fargo Bank, N.A.located at 784 Broadway, New York, NY ("Second Additional Escrow Bank"), as detennined in Sponsor's sole discretion. All Deposits made by Purchasers prior to the Filing Date of this Amendment may be transferred after the Filing Date oftl1is Amendment from the Original Escrow Bank to either oftl1e Additional Escrow Banks, in which event, a Purchaser will be provided witl1 written notification. Accordingly, all references in the Plan to the Escrow Bank shall be deemed to include the Original Escrow Bank, tl1e First Additional Escrow Banlc and Second Additional Escrow Bank. Additionally, Max Pastor, Esq., has been added as an authorized signatory on tl1e accounts, which accounts are now renamed as Brody, Schwartzman, Feinberg, Cohan & Pastor PLLC, and continue to serve as Escrow Agent under tl1e Plan. All references in the Plan to Escrow Agent and Autlwrized Signatories are hereby amended accordingly. 3. BUILDING ART PROGRAM Purchasers are advised that Sponsor intends, but in no way guarantees, to arrange for the installation and/or exhibition of certain art work in the common spaces of the Condominium ("Sponsor Art Work"). Such Sponsor Art Work will not be owned by the Condominium but is being provided to the Condominium as courtesy from a variety of sources, which may include entities owned and/or controlled by Francis J \.DOC

5 Green burger and/or Sponsor including: Francis J. Greenburger, GT Art Holdings LLC, Orni International Arts Center, Time Equities Inc. Art-in-Buildings program, or from other private galleries or individual artists. Francis Greenburger, a principal of Sponsor is the owner of GT Art Holdings LLC, and is the founder and a Director of Omi International Arts Center and the owner of Time Equities, Inc. Sponsor will, at its sole cost and expense, arrange for the delivery, installation, removal and insurance of any such Sponsor Art Work for 2 years from the date of the First Closing. Subject to applicable Law, all decisions regarding the Sponsor Art Work, including but not limited to, the artist, size, location to be installed and/or exhibited, nature, content, kind, geme quality, and quantity shall be determined in Sponsor's sole discretion and shall not be subject to approval by the Condominium Board or any Unit Owners. Notwithstanding the foregoing, the Condominium shall have right to request the removal of any such Sponsor Art Work and in such event, Sponsor will arrange for its removal at Sponsor's cost within 60 days receipt of written request for such removal. Sponsor will provide a list to the Managing Agent of all Sponsor Art Work to be installed and will provide labels to be displayed with each piece of Sponsor Art Work identifying such things as the artist, the title and the ownership of the artwork. 4. DEFINITIONS Any term used in this Amendment not otherwise defmed herein shall have the same meaning ascribed to it in tl1e Plan. 5. NO MATERIAL CHANGES Except as set fortl1 in this Amendment, there have been no material changes of facts or circumstances affecting tl1e Property or tl1e offering. 6. INCORPORATION OF OFFERING PLAN The Plan, as modified and supplemented by this Amendment, is incorporated herein by reference with the same effect as if set fortl1 at length. SPONSOR: 50 WEST DEVELOPMENT LLC l.DOC

6 EXHIBIT "A" AFFIDAVIT IN SUPPORT OF DECLARING THE PLAN EFFECTIVE l.DOC

7 STATE OF NEW YORK ) ) ss.: COUNTY OF NEW YORK ) AFFIDAVIT IN SUPPORT OF DECLARING THE PLAN EFFECTNE (Exhibit "A" to Effectiveness Amendment) The undersigned, being duly sworn to, deposes and says: l. 50 West Development LLC ("Sponsor") is a limited liability company organized and existing under the laws of the State ofn ew York and Sponsor of the Condominium Offering Plan ("Plan") for the premises located at 50 West Street Condominimn, 50 West Street, New York, New York ("Property"). 2. The Plan is a new construction condominium plan promulgated pursuant to Section 352-e of the General Business Law and Part 20 of the Regulations. The Plan was accepted for filing by the Department oflaw on May 16,2014 under File No.CDI The Plan is hereby declared effective based upon the receipt and acceptance of Ill Purchase Agreements fi om bona fide purchasers which represents 54% of the 205 Units being offered for sale under the Plan. 4. All purchasers counted for purposes of declaring the Plan effective: (i) are bona fide purchasers, (ii) are not purchasing as an accommodation to, or for the account or benefit of, Sponsor or principals of Sponsor, and (iii) have duly executed Purchase Agreements and have paid the full Deposit as required in the Plan, or such lesser amount as individually negotiated between Sponsor and Purchaser, if applicable. 5. There are no material changes to the projected budget for the first year of condominium operation which have not been disclosed in the Plan, as amended. 6. No purchaser counted for purposes of declaring the Plan effective is Sponsor, selling agent or managing agent, or is a principal of Sponsor, selling agent or managing agent or who is related to Sponsor, selling agent or managing agent or to any principal of Sponsor, selling agent or managing agent by blood, marriage, or adoption or as an employee, a shareholder or a limited partner. 7. Annexed hereto is a Schedule ofunits which are being counted for purposes of declaring the Plan effective. 8. The undersigned hereby submits this affidavit to the Department of Law in support of declaring the Plan effective and make the above statements kuowing that the Department of Law will rely on such representations in order to accept for filing the effectiveness for the Property. SPONSOR: 50 WEST DEVELOPMENT LLC By: 50 WEST TEl EQUITIES LLC, Its manager and sole member DOC.~i4Ji!JES T. MOFiiGI! N :'!ot~ry Public State_ of New Vorl ;JVI??~3607~ Qualified Nassau ~ -~er t1_f1cate Filed in New ".o k ~~ ''"IllS. E '' r ' ''.. s1on xpires Nov ~

8 SCHEDULE OF UNITS 50 WEST STREET CONDOMINIUM 50 WEST STREET New York, New York (1) (2) Residential Unit No. Date of Purchase Agreement SA 9/9/15 8C 1/ A 10/3/14 9B 6113/14 loa 6/24/15 lob 6/16/14 loc 11/6/14 lla 7/3/14 12A 3/6/15 12B 7/8/14 12C 7/15/14 14A 8/5/14 14B 6/18/15 15A 10/23/14 15B 9/ C 3/26/15 16A 8/12/14 17A 10/29/14 17B 7/2/14 17C 3/26/15 18A 8/12/14 18D 11/21/14 19A 10/9/14 19B 6/18/14 19C 6/19/14 20A 9/ B 11/17/14 20D 7/29/14 21A 6/25/14 22A 10121/14 22C 7/24/14 23A 10/16/14 23B 7/23/14 23C 9/24/14 24A 10/30/14 25B 6/24/14 25C 9/19/14

9 26A 10/2/14 27C 7/2/14 28A 11120/14 29A 6/24/15 29B 8/20/14 29C 7/23/14 30A 7/2/14 30B 2/18/15 30C 6/25/14 31A 7/16/14 31B 7/2/14 31C 7/ A 12/10/14 32B 3/26/15 32C and32d 7/7/15 33A 10/16/14 33B 6/26/14 33C 8/7/14 34A 10/17/14 34B 7/28/15 34D 8/4/14 35A 7/15/14 35B 7/ A 5/18/15 36B 2/25/15 36D 11120/14 37A 3/6/15 37B 2/2/15 37D 7/29/14 38B 115/16 38D 9/22/15 39A 10/16/15 39B 5/27/15 39C 11/5/15 39D 6/16/14 40A 1115/15 40D 9/5/14 41B 8/15/14 41D 2/4/15 42A 7/2/14 42D 7/10/14 43C 2/25/15 43D 7/18/14 45B 12/28/15 45C 7/23/14 45D 7/23/14 46C 6/24/14

10 46D 6/2S/14 47B 10/16/lS 47C 6/18/14 48B 12/22/14 48C and48d 711S/IS 49A 8/4/14 49B 8/4/14 49C 8/4/14 49D 8/4/14 SOA S SOB 9/1111S SOD 1122/lS S2B 9/11/lS S2D 6/26/14 S4A 8/2SIIS S4B S SSA 7/3/14 SSB 7/3/14 SSD 6/19/14 S7A 6/26/14 S8B 6/26/14 Commercial Unit 2 9/9/2014 Commercial Unit 3 8/7/2014 Commercial Unit 1 8/7/2014 Commercial Unit /2016 Commercial Unit /2016 Connnercial Unit 7 7/16/2014