1110 Madison Street Condominium
1110 Madison Street, Brooklyn, NY 11221
Overview
1110 Madison Street is a 10-unit condo in Brooklyn.
- Offering plan: Accepted February 2020 · 273 pages · floor plans on page 204
- Finishes: Wood floors, quartz kitchen countertops, wood cabinets, Fisher & Paykel and Bosch appliances, washer/dryer hook-ups and split-system units for heating and cooling
- Prices: $944 a square foot on average, as first offered; $7.76 million in all ($7.75 million when first offered)
- Common charges: $185–$391 a month, the sponsor's first-year estimate
- Sponsor: 1110 Madison LLC, represented by Eial Girtz, PC; principals Tomer Erlich
- Subway: 11-minute walk to Gates Av (J, Z); 12 minutes to Halsey St (J)
- Amendments: 2, the latest in December 2020
- Units
- 10 residential
- Subway
- 11 min walk to Gates Av J ZHalsey St J, 12 min
- Principals
- Tomer Erlich
- Average $/sf
- $944Homes in Schedule A, as first offered
- Common charges
- $185–$391 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 - December 31, 2021
- Offering price
- $7.76 million total $7.75 million when first offered
- Floor plans
- Page 204 of the plan
- SubmittedJune 2020
- AcceptedFebruary 2020
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through May 31, 2025.
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.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The plan lists what a buyer pays at closing.
All 3 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Dec 17, 2020
Amendment extends the plan for 6 months and updates status of unit closings, financial accounts, and sponsor obligations.
- Plan extended for 6 months
- Final Certificate of Occupancy obtained September 1, 2020
- First closing (Unit 3A) November 4, 2020; Units 1A, 1B, 2A, 2C, 3B, 4A, 4C closed; Units 2B and 4B in contract
- Working capital account opened at Chase Bank with $6,224.17
- Reserve account opened at Chase Bank; $3,100.00 required, $258.33 per month from common charges
- Sponsor financing of $3,240,000.00 from White Oaks Project LLC paid in full; all units released
- No units currently occupied by tenants
- First year budget unchanged from original plan
Amendment 1 Jun 8, 2020
First amendment declares the offering plan effective, updates unit dimensions and allocations based on as-built conditions, discloses code non-compliance risk for winder stairs in Unit 1B, confirms no 421(a) tax abatement eligibility, and raises Unit 1A price to $810,000.00.
- Plan declared effective May 1, 2020 with 2 units in contract (20% of 10 units)
- Unit 1A price increased to $810,000.00
- Unit square footage adjusted: 1A to 809 sf, 2B to 906 sf, 3B to 649 sf, 4B to 906 sf
- Roof terrace reallocated from Unit 4B to Unit 4C (719 square feet)
- Unit 2C reduced to single balcony of 69 square feet
- Winder stair treads in Unit 1B not code compliant per 2014 building code section 1009.4.2 Exception 7; potential stumbling and falling risk
- Building does not qualify for 421(a) tax abatement; estimated first year tax liability $49,521.00
- Construction substantially complete; certificate of occupancy not yet issued
Team
- Sponsor
- 1110 Madison LLC
- Principals
- Tomer Erlich
- Counsel
- Eial Girtz, PC
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- White Oak Projects$3.24 million loan stated in the plan
- General contractors
- DCD Construction, NY Interior ConstructionHeld the general construction permit on DOB job 321185999
- Property report
- Demerara Engineering , LLCPrepared the plan's description of the property and its condition · Named on p. 129
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
- 1228 Putnam Avenue Condominiumnext door · 6 units · 2021
- 1230 Putnam Avenue Condominiumnext door · 3 units · 2025
- 1222 Putnam Avenue Condominiumnext door · 7 units · 2023
- 1220 Putnam Avenue Condominiumnext door · 7 units · 2023
- 1218 Putnam Avenue Condominiumnext door · 7 units · 2023
- Solara Condominiumnext door · 8 units · 2026
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