16 Monroe Place Condominium
16 Monroe Place, Brooklyn, NY 11201
Overview
16 Monroe Place is a 9-unit condo in Brooklyn.
- Offering plan: Accepted May 2023 · 470 pages · floor plans on page 4
- Finishes: Engineered wood floors, quartz kitchen countertops, Blomberg appliances, a washer and dryer in each apartment and a VRF heat pump system for heating and cooling
- Prices: $1,461 a square foot on average, as first offered; $13 million in all
- Common charges: $540–$1,258 a month, the sponsor's first-year estimate
- Developer: Visabe Corporation; principals Salomon Cojab and Gregory Dweck
- Sponsor: 16 Monroe Place Realty Co LLC, represented by Starr Associates, LLP
- Neighborhood: Brooklyn Heights, Brooklyn
- Subway: 2-minute walk to Clark St (2, 3); 4 minutes to Borough Hall/Court St (2, 3, 4, 5, R)
- Amendments: 2, the latest in November 2023
- Units
- 9 residential
- Neighborhood
- Brooklyn Heights, Brooklyn
- Subway
- 2 min walk to Clark St 2 3Borough Hall/Court St 2 3 4 5 R, 4 min
- Developer
- Visabe Corporation
- Principals
- Salomon Cojab, Gregory Dweck
- Average $/sf
- $1,461Homes in Schedule A, as first offered
- Common charges
- $540–$1,258 a monthSponsor's first-year estimate in Schedule A, July 1, 2023 - June 30, 2024
- Offering price
- $13 million total
- Floor plans
- Page 4 of the plan
- SubmittedMay 2023
- AcceptedMay 2023
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Feb 29, 2024.
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 16 Monroe Place's common charges compare with similar buildings? →
Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 8 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 2 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Nov 6, 2023
Second amendment documents the first closing on August 29, 2023, establishes the condominium board, and offers 2 remaining unsold units for sale.
- First closing occurred August 29, 2023 for Unit 7
- Condominium Declaration recorded July 31, 2023 in Register's Office
- Working Capital Account of approximately $9,000 established at Northfield Bank
- Real estate tax escrow of $50,072.32 deposited by Sponsor
- Management agreement entered with Esquire Management Corporation
- Sponsor sold 7 units; 2 units remain unsold
- Sponsor controls board until fifth anniversary of first closing, all units sold, or sponsor relinquishes control
- First Annual Meeting to be held approximately 30 days after second anniversary of first closing
Amendment 1 Jun 15, 2023
Plan declared effective, roof areas designated as limited common elements for Units 9 and 10, minor unit reconfigurations, and storage locker count reduced.
- Plan declared effective based on two purchase agreements representing 22% of nine units
- Portions of roof designated as Limited Common Elements appurtenant to Units 9 and 10
- Unit 9 and 10 roof areas may not be legally occupied without owner alterations and DOB/LPC approvals
- Sponsor will not undertake work to make roofs legally occupiable nor guarantee DOB or LPC approval
- Easement granted for roof access to maintain exhaust fans and equipment
- Unit 1 lower level reconfigured to reflect correct dishwasher location
- Unit 2 upper level bathroom updated to show shower instead of bathtub
- Storage lockers reduced from ten to six in storage locker area
Team
- Sponsor
- 16 Monroe Place Realty Co LLC
- Developer
- Visabe Corporation
- Principals
- Salomon Cojab, Gregory Dweck
- Counsel
- Starr Associates, LLP
- Tax estimate
- Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection
- Construction lender
- Israel Discount Bank of New York
- MEP engineer
- Ryan Soames EngineeringMechanical, electrical and plumbing · Named on p. 42
- Property report
- Palette ArchitecturePrepared the plan's description of the property and its condition · Named on p. 157
- Title agency
- Everest Abstract Services, LLCThe sponsor's title company for buyers; you can choose another · Named on p. 218
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R7-1
- Limited height district
- LH-1
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 28-30 Monroe Place Owners Corp.next door · 1987
- One Clinton Condominiumnext door · 133 units · 50 parking · 2018
- Cadman Towers Owners Corp.next door · 421 units
- 75 Henry Street0.1 mi · 370 units · 2001
- 109 Willow Street Condominium0.2 mi · 3 units · 2024
- 118 Remsen Street Condominium0.2 mi · 4 units · 2024
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