Standardized Operating Procedure of Purchase

Own Your Future – 2-Bedroom Condominium at The Lofts at 1117

One of only two 2-bedroom condominiums available in this 38-unit redevelopment located on W. Fayette Street connecting Tipperary Hill and Downtown Syracuse. This brand-new, all-electric residence offers space, efficiency, and long-term affordability through New York State’s Affordable Homeownership Opportunity Program (AHOP). Designed so qualified households spend no more than approximately 30% of income on total housing costs (including mortgage, taxes, insurance, and HOA fees), this home features quartz countertops, contemporary cabinetry, Energy Star stainless steel appliances, efficient heating and cooling, and entirely new building systems. Utilities are separately metered. Community amenities include on-site parking, two EV charging stations, secure entry, and a professionally managed homeowners association. Eligibility Requirements: Purchasers must have a household income below $103,500 (adjusted for household size) and a net worth under $100,000, excluding retirement and educational savings accounts. Buyers must complete a Home HeadQuarters homebuyer counseling course and sign a regulatory agreement with NYS Homes & Community Renewal to ensure long-term affordability. The project will participate in the 485-o tax abatement program. Estimated property taxes shown are based on full assessed value and do not reflect the reduced amount under the abatement. Located within the City of Syracuse. Sponsor: 1117 NewCo, Corp., c/o Redev CNY, 451 S. Warren Street, Syracuse, NY 13202. Complete offering terms are available in an offering plan from Sponsor. File No. CD25-0271. Sponsor and its affiliates comply with all Fair Housing laws and provide Equal Housing Opportunity.