Belle Grove Condominium
174 Madison Street, Brooklyn, NY 11216
Overview
Belle Grove is a new 4-unit condo in Brooklyn.
- Offering plan: Accepted July 2024 · 371 pages · floor plans on page 33
- Finishes: Hardwood floors, granite kitchen countertops, Frigidaire appliances, washer/dryer hook-ups and split-system units for heating and cooling
- Prices: $1,291 a square foot on average, as first offered; $6.37 million in all ($6.08 million when first offered)
- Common charges: $466–$582 a month, the sponsor's first-year estimate
- Sponsor: Madison Condominiums LLC, represented by The Law Office Of Jay Lichtman, P.C.; principals Tal Bloch, Aleksey Karatayev and Stanislav Nezhevenko
- Subway: 7-minute walk to Nostrand Av (A, C); 8 minutes to Franklin Av (C, S)
- Amendments: 1, the latest in December 2024
- Units
- 4 residential
- Subway
- 7 min walk to Nostrand Av A CFranklin Av C S, 8 min
- Principals
- Tal Bloch, Aleksey Karatayev, Stanislav Nezhevenko
- Average $/sf
- $1,291Homes in Schedule A, as first offered
- Common charges
- $466–$582 a monthSponsor's first-year estimate in Schedule A, January 1, 2025-December 31, 2025
- Offering price
- $6.37 million total $6.08 million when first offered
- Floor plans
- Page 33 of the plan
- SubmittedDecember 2024
- AcceptedJuly 2024
- 1 amendment
- First sale
- Latest sale
Units & Prices
Sales
4 of 4homes sold (100%)
From city records (ACRIS), through Jul 31, 2025.
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 3 homes.
Each home's estimate, city bills and tax breaksSee it free →Compare
| Figure | This building1 | 118 Madison24 units · 0.1 miaccepted 2024 | 226 Putnam35 units · 0 miaccepted 2024 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.44Lowest | $0.57 | $0.72 |
| Average Offering PricePer Apartment | $1.59MIn line | $1.77M | $920,000 |
| Average PricePer Square Foot | $1,291In line | $1,407 | $1,217 |
| Average Unit SizeSquare Feet | 1,233 SFIn line | 1,261 SF | 756 SF |
How We Got This
- Comps: the closest Brooklyn plans on size, $/SF and launch date, within 2 miles when possible.
- Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
- Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
- Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.
Closing Costs
The plan lists what a buyer pays at closing.
All 6 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 1 Dec 18, 2024
Amendment updates unit offering prices, modifies Unit 3B area due to reduced vestibule, and revises floor plans and construction status.
- Unit 1 offering price: $1,675,000
- Unit 2 offering price: $1,490,000
- Unit 3A offering price: $1,500,000
- Unit 3B offering price: $1,700,000
- Unit 3B total gross area reduced to 1,855 SF
- Construction substantially complete as of October 2024
- Temporary Certificate of Occupancy expected by February 2025; Final Certificate of Occupancy expected by end of April 2025
- Multiple floor plan changes: revised bathroom configurations, relocated HVAC units to bulkhead, sliding doors in bedrooms, adjusted kitchenette layouts
- Schedule A prices increased for 4 homes (median +6.8%): 1 $1,495,000 → $1,675,000; 2 $1,395,000 → $1,490,000; 3A $1,495,000 → $1,500,000; 3B $1,695,000 → $1,700,000
Team
- Sponsor
- Madison Condominiums LLC
- Principals
- Tal Bloch, Aleksey Karatayev, Stanislav Nezhevenko
- Tax estimate
- Berish LichtmanPrepared the first-year real estate tax projection
- Construction lender
- Toorak Capital Partners
- General contractors
- Sat Construction Services, Brooklyn B Company GroupHeld the general construction permit on DOB job 321191571
- Buyer's lender
- U.S. BankThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 228
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
- 226 Putnam Avenue Condominiumnext door · 5 units · 2024
- 215 Putnam Avenue Condominiumnext door · 6 units · 2022
- 256 Putnam Avenue Condominiumnext door · 4 units · 2025
- 131 Madison Street Condominiumnext door · 8 units · 2025
- 1155 Bedford Avenue Condominiumnext door · 7 units · 2024
- 368 Gates Avenue Condominium0.1 mi · 4 units · 2016
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