128 Bay Condominium
122 Bay 26th Street, Brooklyn, NY 11214
Overview
128 Bay is a 12-unit condo in Brooklyn, with 8 parking units.
- Offering plan: Accepted February 2023 · 262 pages · floor plans on pages 222–223
- 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: $725 a square foot on average, as first offered; $9.63 million in all ($9.47 million when first offered)
- Common charges: $248–$321 a month, the sponsor's first-year estimate
- Sponsor: 122 Bay Realty LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.; principals Paul Marino
- Neighborhood: Bath Beach, Brooklyn
- Subway: 6-minute walk to 20 Av (D); 8 minutes to Bay Pkwy (D)
- Amendments: 1, the latest in May 2023
- Units
- 12 residential · 8 parking
- Neighborhood
- Bath Beach, Brooklyn
- Subway
- 6 min walk to 20 Av DBay Pkwy D, 8 min
- Principals
- Paul Marino
- Average $/sf
- $725Homes in Schedule A, as first offered
- Common charges
- $248–$321 a monthSponsor's first-year estimate in Schedule A, July 1, 2023 - June 30, 2024
- Offering price
- $9.63 million total $9.47 million when first offered
- Floor plans
- Pages 222–223 of the plan
- SubmittedMay 2023
- AcceptedFebruary 2023
- 1 amendment
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Sep 30, 2026.
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 12 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 8 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 1 Mar 24, 2023
Real estate tax projections updated and unit prices increased for six units.
- Unit prices raised: 1A $799,000→$825,000, 1D $799,000→$850,000, 2A $739,000→$749,000, 2D $739,000→$749,000, 3A $749,000→$759,000, 3D $749,000→$759,000
- First year taxes for 2023/2024: $21,946.89 total (assessed value $178,910)
- Post-completion 2024/2025 projected taxes: residential $89,178.00, parking $8,280.00, total $97,458.00
- Purchasers advised real estate taxes likely to increase materially in second year of operation
- Construction completion anticipated June 2023, first year operation commences July 1, 2023
- Offering plan extended for additional six months
Team
- Sponsor
- 122 Bay Realty LLC
- Principals
- Paul Marino
- Tax estimate
- MGNY ConsultingPrepared the first-year real estate tax projection
- General contractor
- Jonico ConstructionHeld the general construction permit on DOB NOW job B00629541
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R5
Today's zoning, from city data (PLUTO 26v2).
Nearby
- Happiness Condominiumnext door · 6 units · 5 parking · 2020
- 16 Bay 25th Street Condominium0.2 mi · 10 units · 2 parking · 2021
- 8616 Tower Condominium0.2 mi · 45 units · 25 parking · 2018
- 87-35 Bay Parkway0.2 mi · 1987
- 8800 Bay Parkway Condominium0.2 mi · 40 units · 2024
- Tower 85 Condominium0.3 mi · 11 units · 9 parking · 2021
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