112 Summit Street Condominium
112 Summit Street, Brooklyn, NY 11231
Overview
112 Summit Street is a 3-unit condo in Brooklyn.
- Offering plan: Accepted September 2018 · 246 pages
- Finishes: Hardwood floors, laminate kitchen countertops, laminate cabinets, Blomberg, Bertazzoni and Bosch appliances, washer/dryer hook-ups, American Standard bathroom fittings and central forced air for heating and cooling
- Prices: $6.2 million in all
- Common charges: $207–$330 a month, the sponsor's first-year estimate
- Sponsor: 112 Summit, LLC, represented by Paul A. Leff, Esq.; principals Gino Vitale
- Subway: 11-minute walk to Carroll St (F, G); 14 minutes to Smith-9 Sts (F, G)
- Amendments: 1, the latest in November 2018
- Units
- 3 residential
- Subway
- 11 min walk to Carroll St F GSmith-9 Sts F G, 14 min
- Principals
- Gino Vitale
- Common charges
- $207–$330 a monthSponsor's first-year estimate in Schedule A, July 1, 2018 Through June 30, 2019
- Offering price
- $6.2 million total
- SubmittedNovember 2018
- AcceptedSeptember 2018
- 1 amendment
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Oct 31, 2020.
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 buyer pays the NYC and NY State transfer taxes, which a seller usually pays.
All 6 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 1 Jan 17, 2019
Corrected unit square footages due to calculation error and added smoking policy compliance with NYC Local Law 147.
- Unit square footage recalculated; Unit #1 Cellar increased from 757.85 to 1,042.00 sq. ft., First Floor from 742.64 to 1,025.00 sq. ft., outdoor space from 260.00 to 710.00 sq. ft.
- Unit #2 Second Floor increased from 744.75 to 1,030.00 sq. ft., outdoor space from 15.00 to 70.00 sq. ft.
- Smoking prohibited in common areas including entranceway, stairways, and outdoor front to property line
- Unit owners may smoke in units and limited common elements (balconies, porches, yards, roof terraces) if no nuisance to other units
- Smoking policy applies to electronic cigarettes and vapor products
- New Schedule A attached with corrected square footage
- Percentage common interest unchanged despite square footage revision
- Information reporting policy disclosure regarding title insurance collection for certain purchases $300,000 or more without bank financing
Team
- Sponsor
- 112 Summit, LLC
- Principals
- Gino Vitale
- Counsel
- Paul A. Leff, Esq.
- Construction lender
- Lakeland Bank$2.16 million loan stated in the plan
- Interior designer
- Think DesignReported by cityrealty.com
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
- 110 Summit Street Condominiumnext door · 3 units · 2020
- 102 Summit Street Condominiumnext door · 3 units · 2022
- 128 Summit Street Condominiumnext door · 3 units · 2026
- 74 Carroll Street Condominiumnext door · 3 units · 2025
- 130 Carroll Townhouse Condominium0.1 mi · 3 units · 2019
- 55 Summit Street Housing Development Fund Corporation0.1 mi · 5 units · 2022
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