1019 President Street Condominium
1019 President Street, Brooklyn, NY 11225
Overview
1019 President Street is an 8-unit condo in Brooklyn.
- Offering plan: Accepted February 2020 · 371 pages · floor plans on page 34
- Finishes: Hardwood floors, quartz kitchen countertops, Miton cabinets, GE appliances, washer/dryer hook-ups and split-system units for heating and cooling
- Prices: $6.26 million in all ($6.03 million when first offered)
- Common charges: $283–$604 a month, the sponsor's first-year estimate
- Sponsor: 57 Himrod LLC, represented by The Law Office Of Jay Lichtman, P.C.; principals Yaakov Scharman
- Subway: 3-minute walk to Franklin Av-Medgar Evers College/Botanic Garden (2, 3, 4, 5, S); 7 minutes to President St-Medgar Evers College (2, 5)
- Amendments: 1, the latest in November 2020
- Units
- 8 residential
- Subway
- 3 min walk to Franklin Av-Medgar Evers College/Botanic Garden 2 3 4 5 SPresident St-Medgar Evers College 2 5, 7 min
- Principals
- Yaakov Scharman
- Common charges
- $283–$604 a monthSponsor's first-year estimate in Schedule A, October 1, 2020
- Offering price
- $6.26 million total $6.03 million when first offered
- Floor plans
- Page 34 of the plan
- SubmittedNovember 2020
- AcceptedFebruary 2020
- 1 amendment
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Oct 31, 2021.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 8 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The plan lists what a buyer pays at closing.
All 7 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 1 Nov 24, 2020
First Amendment updates FinCEN reporting requirements for certain cash purchases, revises unit offering prices, modifies building specifications per updated DOB-approved plans, and extends the plan term by six months.
- Offering prices revised for all 8 units, ranging from $549,000 (Unit 1F) to $950,000 (Unit 4R)
- Anticipated completion date moved to March 2021
- Building structural system modified to Class 1B with 2-hour fire rating
- Unit sizes and limited common elements updated per revised floor plans
- Sidewalk to be replaced and backyard paved with concrete
- FinCEN Currency Transaction Report requirement added for certain cash purchases of $300,000 or more
- Plan term extended six months
- Appliance specifications updated (refrigerator, dishwasher, range models)
- Schedule A prices increased for 7 homes (median +4.3%): 1F $449,000 → $549,000; 1R $829,000 → $849,000; 2F $699,000 → $729,000; 2R $699,000 → $729,000; ...
- Schedule A prices decreased for 1 home (median -2.1%): 4F $949,000 → $929,000
Team
- Sponsor
- 57 Himrod LLC
- Principals
- Yaakov Scharman
- Construction lender
- 1st Constitution Bank$2.7 million recorded
- Buyer's lender
- Wells FargoThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 207
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 1015a President Street Condominiumnext door · 8 units · 2021
- 1015 President Street Condominiumnext door · 8 units · 2022
- 1000 Union Street Condominium0.1 mi · 20 units · 12 parking · 2020
- 311 Eastern Parkway Condominium0.2 mi · 5 units · 2026
- Crown 12 Condominium0.2 mi · 85 units · 2018
- 111 Montgomery Street Condominium0.2 mi · 163 units · 19 parking · 2019
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