108 Jackson Condominium
108 Jackson Street, Brooklyn, NY 11211
Overview
108 Jackson is a 6-unit condo in Brooklyn.
- Offering plan: Accepted July 2020 · 277 pages · floor plans on pages 177–178
- Finishes: Engineered wood floors, quartz kitchen countertops, Blomberg and Bosch appliances, a washer and dryer in each apartment, Grohe bathroom fittings and a VRF heat pump system for heating and cooling
- Prices: $1,298 a square foot on average, as first offered; $7.5 million in all
- Common charges: $191–$667 a month, the sponsor's first-year estimate
- Sponsor: V Development Group LLC, represented by Sichenzia Ross Ference LLP; principals Kevin Wey
- Neighborhood: Williamsburg, Brooklyn
- Subway: 5-minute walk to Graham Av (L); 5 minutes to Metropolitan Av/Lorimer St (G, L)
- Amendments: 3, the latest in June 2021
- Units
- 6 residential
- Neighborhood
- Williamsburg, Brooklyn
- Subway
- 5 min walk to Graham Av LMetropolitan Av/Lorimer St G L, 5 min
- Principals
- Kevin Wey
- Average $/sf
- $1,298Homes in Schedule A, as first offered
- Common charges
- $191–$667 a monthSponsor's first-year estimate in Schedule A, December 1, 2020 to November 30, 2021
- Offering price
- $7.5 million total
- Floor plans
- Pages 177–178 of the plan
- SubmittedAugust 2020
- AcceptedJuly 2020
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Jan 31, 2024.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
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Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 6 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.
All 7 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 Jun 28, 2021
Sponsor's attorney changed, first closing deadline extended to August 27, 2023 due to COVID-19 executive order tolling period.
- Sponsor's attorney changed from Sichenzia Ross Ference LLP to Starr Associates LLP
- First closing deadline extended to August 27, 2023 (from February 19, 2022)
- COVID-19 executive order tolling period: 554 days total (434 days + 120 days)
- Purchasers may rescind if first closing does not occur by August 27, 2023
Amendment 2 Feb 2, 2021
Plan declared effective with 1 of 6 units sold, first closing moved to June 1, 2021, and condominium operation date tolled under Executive Order 202.18.
- Plan declared effective on January 20, 2021 with 1 of 6 residential units sold (approximately 16%)
- First closing anticipated June 1, 2021, not February 20, 2021
- Rescission right offered if first closing occurs later than May 31, 2022
- Condominium operation date tolled for duration of Executive Order 202.18 plus 120 days
- Correction to Amendment No. 1: rescission right date is February 19, 2022, not February 20, 2022
- Budget unchanged from Amendment No. 1
- Plan valid for 6 months from filing date of this amendment
Amendment 1 Aug 21, 2020
Budget corrected for drafting errors, construction and closing dates updated, escrow agent changed to Lau & Associates P.C., and plan validity extended six months.
- Budget Schedule B and B-1 corrected for drafting errors with updated Budget Certification
- Construction completion date moved to November 20, 2020
- TCO (Temporary Certificate of Occupancy) expected January 20, 2021; FCO expected March 20, 2021
- First closing date moved from December 1, 2020 to on or about February 20, 2021
- Escrow agent changed from Moritt Hock & Hamroff, LLP to Lau & Associates, P.C. at 40 Cutter Mill Road, Suite 504, Great Neck, NY 11021
- Escrow account held at Signature Bank, federally insured by FDIC at maximum $250,000 per deposit
- Plan validity extended six months from amendment filing date
Team
- Sponsor
- V Development Group LLC
- Principals
- Kevin Wey
- Counsel
- Sichenzia Ross Ference LLP
- Tax estimate
- Highpoint Incentives Inc.Prepared the first-year real estate tax projection
- Construction lender
- Taiwan Cooperative Bank$2.88 million recorded
- General contractor
- Honest & QualityHeld the general construction permit on DOB job 321383524
- MEP engineer
- WW Engineering, PLLCMechanical, electrical and plumbing · Named on p. 112
- Property report
- YJL Engineering, PE LLCPrepared the plan's description of the property and its condition · Named on p. 112
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6B
Today's zoning, from city data (PLUTO 26v2).
Nearby
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- 357 Leonard Street Condominiumnext door · 3 units · 2025
- Cleopatra At 99 Condominiumnext door · 6 units · 2021
- 74 Jackson Street Condominiumnext door · 5 units · 2024
- Element 88 Condominiumnext door · 33 units · 25 parking · 2017
- Jackson Plaza Condominiumnext door · 32 units · 2007
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