18 Van Buren Street Condominium
18 Van Buren Street, Brooklyn, NY 11221
Overview
18 Van Buren Street is a 7-unit condo in Brooklyn.
- Offering plan: Accepted August 2019 · 322 pages · floor plans on page 35
- Finishes: Hardwood floors, granite kitchen countertops, Frigidaire appliances, washer/dryer hook-ups and split-system units for heating and cooling
- Prices: $884 a square foot on average, as first offered; $5.09 million in all ($4.22 million when first offered)
- Common charges: $332–$868 a month, the sponsor's first-year estimate
- Sponsor: 18 Van Buren LLC, represented by Law Firm Of Jay Lichtman P.C.; principals Guy Mor and Itzhak Maman
- Subway: 9-minute walk to Bedford-Nostrand Avs (G); 12 minutes to Myrtle-Willoughby Avs (G)
- Amendments: 3, the latest in December 2020
- Units
- 7 residential
- Subway
- 9 min walk to Bedford-Nostrand Avs GMyrtle-Willoughby Avs G, 12 min
- Principals
- Guy Mor, Itzhak Maman
- Average $/sf
- $884Homes in Schedule A, as first offered
- Common charges
- $332–$868 a monthSponsor's first-year estimate in Schedule A, April 1, 2020- March 31, 2021
- Offering price
- $5.09 million total $4.22 million when first offered
- Floor plans
- Page 35 of the plan
- SubmittedDecember 2019
- AcceptedAugust 2019
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Oct 31, 2023.
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.
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 3 Dec 2, 2020
Third amendment adds FinCEN reporting requirements for certain cash purchases, documents first closing and final certificate of occupancy, and extends the plan term by six months.
- FinCEN Currency Transaction Report required for cash purchases of residential property $300,000+ by business entities without bank financing
- First unit closing occurred July 10, 2020 at Schwartz Levine PLLC, 150 Broadway, Suite 1703, New York
- Final Certificate of Occupancy issued June 2, 2020
- Condominium Declaration recorded June 18, 2020
- One unsold unit (2F) priced at $585,000 with monthly carrying charges of $793.91
- Sponsor retains board control, plans to relinquish at December 2020 unit owners meeting
- Plan term extended six months from amendment date
Amendment 2 Feb 26, 2020
Sponsor no longer represents the building qualifies for 421-a tax abatement; floor plans revised with unit square footages and common elements adjusted; taxes, assessed valuation, and common interest percentages updated.
- Building no longer eligible for 421-a real estate tax abatement
- Temporary Certificate of Occupancy expected June 2020, Final Certificate of Occupancy expected August 2020
- Penthouse front terrace (625 sf) reassigned from common element to Unit 4R
- Front yard area (129 sf) reassigned from common element to Unit 1
- Unit square footages decreased: Unit 2F, 3F, 4F from 581 sf to 576 sf; Unit 4R from 580 sf to 576 sf
- Sponsor retains unconditional right to rent units; no commitment to sell more than 15% or two residential units
- New Real Estate Transfer Tax and Supplemental Tax rates for purchases $2,000,000 or more
- Common interest percentages allocated to units have changed
Amendment 1 Dec 31, 2019
Offering prices for seven units are changed.
- Unit 1 offering price: $1,199,000
- Unit 2F offering price: $585,000
- Unit 2R offering price: $585,000
- Unit 3F offering price: $599,000
- Unit 3R offering price: $599,000
- Unit 4F offering price: $599,000
- Unit 4R offering price: $925,000
Team
- Sponsor
- 18 Van Buren LLC
- Principals
- Guy Mor, Itzhak Maman
- Tax estimate
- Law Offices of Farhid Sedaghat-Pour, Esq., PLLCPrepared the first-year real estate tax projection
- Construction lender
- Cross River Bank$1.75 million recorded
- General contractors
- All Boroughs, Mari Shev PaintingHeld the general construction permit on DOB job 321186382
- Property report
- Wu Chen, P.E.Prepared the plan's description of the property and its condition · Named on p. 152
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
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- 701 Lafayette Condominiumnext door · 8 units · 2019
- 725 Lafayette Avenue Condominiumnext door · 7 units · 2020
- Residence At 735 Condominiumnext door · 7 units · 2021
- 675 Lafayette Avenue Condominium0.1 mi · 4 units · 2017
- 289 Kosciuszko Street Condominium0.2 mi · 4 units · 2021
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