THE CONDO BOOK PROJECT

1206 Putnam Avenue Condominium (The Evergreen on Putnam)

1206 Putnam Avenue, Brooklyn, NY 11221

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Overview

The Evergreen On Putnam is a 21-unit condo in Brooklyn, with 11 parking units.

  • Offering plan: Accepted February 2021 · 372 pages · floor plans on page 7
  • Finishes: 9-foot ceilings, hardwood floors, granite kitchen countertops, Frigidaire appliances, washer/dryer hook-ups, Grohe bathroom fittings and split-system units for heating and cooling
  • Prices: $906 a square foot on average, as first offered; $16.3 million in all
  • Common charges: $286–$519 a month, the sponsor's first-year estimate
  • Developer: Urban View Development Group Inc.; principals Nadav Hamo
  • Sponsor: 507 Evergreen Avenue LLC, represented by Marans Newman Tsolis & Nazinitsky LLC
  • Neighborhood: Bushwick, Brooklyn
  • Subway: 10-minute walk to Halsey St (J); 10 minutes to Gates Av (J, Z)
  • Amendments: 4, the latest in October 2022
  1. SubmittedJuly 2021
  2. AcceptedFebruary 2021
  3. 4 amendments
  4. First sale
  5. Latest sale

Sales

21 of 21homes sold (100%)
Every sale: 21 homes, with price and dateSee it free →

From city records (ACRIS), through Dec 31, 2025.

First-Year Budget

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Ask Claude or ChatGPT: How do The Evergreen On Putnam's common charges compare with similar buildings? →

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 4 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 4 Oct 18, 2022

Amendment reports first closing and building occupancy milestones, updates unit prices, extends offering term, and discloses board composition and fund balances.

  • First Unit Closing occurred June 7, 2022
  • Temporary Certificate of Occupancy issued March 22, 2022; renewed August 12, 2022 expiring November 10, 2022
  • Seven units have new advertised prices: 3C $545,000, 3F $544,000, 4A $590,000, 4C $570,000, 4D $779,000, 5A $892,000, 5B $785,000
  • Sponsor posted $10,000.00 security for permanent Certificate of Occupancy, expected by end of calendar year
  • Declaration recorded May 18, 2022
  • Working Capital Fund balance $4,659.17; Reserve Fund balance $6,356.17
  • Nine units and Community Facility remain unsold: 2D, 2F, 3B, 3F, 4B, 4D, 4F, 5B
  • Offering term extended twelve months from amendment date

Amendment 3 Apr 15, 2022

Amendment extends the first closing date to July 1, 2022 (with rescission rights to March 7, 2024 for prior purchasers), updates the condominium name and addresses, provides temporary certificate of occupancy, and revises the first year budget.

  • First Unit Closing moved to July 1, 2022 (from September 1, 2021)
  • Rescission right extended to March 7, 2024 for purchasers with existing agreements (from August 31, 2022)
  • New purchasers have rescission right only if closing does not occur by June 30, 2023
  • Legal name changed to 'The Evergreen on Putnam Condominium'
  • Residential address updated to 511 Evergreen Avenue; Community Facility at 1200 Putnam Avenue a/k/a 505 Evergreen Avenue
  • Temporary Certificate of Occupancy issued March 22, 2022 (expires May 21, 2022)
  • First Year Budget revised; total operating expenses and income $105,111.90
  • Plan term extended six (6) months from amendment date

Amendment 2 Dec 22, 2021

Plan declared effective with four units sold, two unit prices adjusted, and term extended six months.

  • Plan declared effective; 4 units sold (19% of offering)
  • Unit 4A price: $555,000.00
  • Unit 5A price: $857,000.00
  • Term extended 6 months from amendment date

Amendment 1 Jul 19, 2021

Construction and occupancy timelines updated, unit specifications finalized, and property tax projections updated for First Year of Operations.

  • Substantial completion moved from July 1, 2021 to September 1, 2021; First Unit Closing deadline September 1, 2022 for new purchasers
  • Temporary Certificate of Occupancy expected September 2021, Final Certificate of Occupancy expected February 2022
  • Common laundry room eliminated from cellar; space converted to storage for unit 4B
  • Unit 1A square footage reduced from 424 to 412 SF due to corridor widening
  • Fifth floor units have minor square footage reductions: 5A 874 SF, 5B 785 SF, 5C 883 SF
  • Windows, doors, hot water heaters, HVAC systems, flooring, and kitchen appliances specified with final as-built models
  • All units provided with laundry equipment; specific models vary by unit
  • Property tax projections updated based on March 15, 2021 assessment; 2022/2023 taxes may increase materially after Final Certificate of Occupancy
What each amendment changed, line by lineSee it free →

Team

Sponsor
507 Evergreen Avenue LLC
Principals
Nadav Hamo
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Popular Bank
General contractor
Brooklyn B Company GroupHeld the general construction permit on DOB job 321193720
Property report
INFOCUSPrepared the plan's description of the property and its condition · Named on p. 229

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Zoning

Zoning district
R6

Today's zoning, from city data (PLUTO 26v2).

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