120 Java Street Condominium
120 Java Street, Brooklyn, NY 11222
Overview
120 Java Street is a 15-unit condo in Brooklyn.
- Offering plan: Accepted June 2020 · 545 pages · floor plans on page 236
- Finishes: Engineered wood floors, synthetic stone kitchen countertops, Liebherr, Bertazzoni and Bosch appliances, washer/dryer hook-ups, California Faucets bathroom fittings and a VRF heat pump system for heating and cooling
- Prices: $1,428 a square foot on average, as first offered; $22.6 million in all ($21.8 million when first offered)
- Common charges: $418–$1,297 a month, the sponsor's first-year estimate
- Developer: SL Development; principals Page Leidy and Ray Steffen
- Sponsor: 120 Java, LLC, represented by D'Agostino, Levine, Landesman, Et Al, LLP
- Subway: 3-minute walk to Greenpoint Av (G); 11 minutes to Nassau Av (G)
- Amendments: 6, the latest in August 2022
- Units
- 15 residential
- Subway
- 3 min walk to Greenpoint Av GNassau Av G, 11 min
- Developer
- SL Development
- Principals
- Page Leidy, Ray Steffen
- Average $/sf
- $1,428Homes in Schedule A, as first offered
- Common charges
- $418–$1,297 a monthSponsor's first-year estimate in Schedule A, Twelve Month Period Commencing September 1, 2020 and Ending August 31, 2021 ("First Year")
- Offering price
- $22.6 million total $21.8 million when first offered
- Floor plans
- Page 236 of the plan
- SubmittedMay 2021
- AcceptedJune 2020
- 6 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Aug 31, 2026.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
Ask Claude or ChatGPT: How do 120 Java Street's common charges compare with similar buildings? →
Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 15 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 3 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 6 Aug 17, 2022
This sixth amendment updates condominium bylaws for mortgage notice requirements, documents the first unit closing on July 29, 2022, and lists 11 unsold units with their prices and common charges.
- By-laws amended to require written notice to mortgagees and guarantors of unit owner defaults within 60 days
- First Unit Closing (Unit 4A) occurred July 29, 2022; sponsor escrowed $10,000.00 for permanent certificate of occupancy
- Temporary certificate of occupancy issued July 15, 2022, valid through October 13, 2022
- Permanent certificate of occupancy required within 2 years of First Unit Closing
- Working Capital Fund of $6,068.32 established; sponsor waived any credit below zero
- 11 units unsold or under contract; prices range from $750,000.00 to $2,500,000.00
- Unsold units mortgaged to MIDFIRST BANK; loan maturity December 2022; outstanding balance approximately $1,216,342.51 as of August 4, 2022
- Plan extension granted for 6 months from Department of Law acceptance
Amendment 5 Mar 4, 2022
Financial update on common charges, taxes, mortgage status, and extension of plan effectiveness period by six months.
- Aggregate monthly common charges for unsold units: $9,502.58
- Aggregate monthly real estate taxes for unsold units: approximately $10,597.83
- Eight units in contract as of amendment date
- Mortgage held by MIDFIRST BANK with maturity date June 1, 2022; outstanding balance approximately $10,500,000.00 as of February 28, 2022
- No sponsor financial obligations due within twelve months other than common charges
- Sponsor current on all financial obligations since first unit closing
- Plan effectiveness period extended six months from department acceptance date
- No first unit closing has occurred; no condominium financial statements available
Team
- Sponsor
- 120 Java, LLC
- Developer
- SL Development
- Principals
- Page Leidy, Ray Steffen
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Midfirst Bank$7.9 million recorded
- Title agency
- All New York Title AgencyThe sponsor's title company for buyers; you can choose another · Named on p. 121
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
- 108 India Street Condominiumnext door · 3 units · 2019
- 112 India Street Condominiumnext door · 3 units · 2022
- Villas At Indianext door · 7 units · 2019
- 81 India Street Condominiumnext door · 6 units · 2021
- 130 Huron Street Condominiumnext door · 4 units · 2024
- 112 Huron Street Condominium0.1 mi · 4 units · 2026
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