THE CONDO BOOK PROJECT

180 Jackson Street Condominium

180 Jackson Street, Brooklyn, NY 11211

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Overview

180 Jackson Street is a 5-unit condo in Brooklyn.

  • Offering plan: Accepted April 2017 · 342 pages · floor plans on pages 172–173
  • Finishes: Hardwood floors, granite kitchen countertops, Frigidaire appliances, washer/dryer hook-ups, Grohe bathroom fittings and split-system units for heating and cooling
  • Prices: $1,218 a square foot on average, as first offered; $5.87 million in all ($4.29 million when first offered)
  • Common charges: $261–$526 a month, the sponsor's first-year estimate
  • Sponsor: 180 Jackson Street LLC, represented by The Law Office Of Jay Lichtman, P.C.; principals Nadav Hamo
  • Neighborhood: Williamsburg, Brooklyn
  • Subway: 4-minute walk to Graham Av (L); 8 minutes to Grand St (L)
  • Amendments: 4, the latest in April 2019
  1. SubmittedAugust 2017
  2. AcceptedApril 2017
  3. 4 amendments
  4. First sale
  5. Latest sale

Sales

5 of 5homes sold (100%)
Every sale: 5 homes, with price and dateSee it free →

From city records (ACRIS), through Mar 31, 2022.

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 180 Jackson Street'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 7 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 4 Apr 2, 2019

Fourth Amendment adds FinCEN reporting requirements for certain purchases, confirms plan effectiveness and first closing, provides occupancy certificate and building status updates, and extends the plan term.

  • FinCEN reporting requirement for purchases by business entities $300,000+ without bank financing using cash or check
  • Plan declared effective September 13, 2018 with one unit sold (20% of residential units)
  • First closing completed January 18, 2019
  • Temporary Certificates of Occupancy obtained December 7, 2018 and March 1, 2019
  • Final Certificate of Occupancy anticipated by June 1, 2019; $6,000.00 held in escrow
  • Sponsor relinquished board control March 11, 2019; board now entirely independent
  • One unsold unit (Unit 2) at $1,438,500.00 with 21.71% common interest
  • Plan term extended six months

Amendment 3 Sep 21, 2018

Amendment adds building smoking policy, updates floor plans and building systems to reflect as-built conditions, and extends the plan term by six months.

  • Smoking prohibited everywhere except inside units or outdoor limited common elements connected to units; violations subject to board fines
  • Penthouse Terrace now fully allocated to Unit 4 (was split between Unit 4 and common element)
  • Rear yard limited common element for Unit 1 increased from 1017 sf to 1150 sf
  • HVAC system changed to Fujitsu split units with greater BTU capacity (6,000 to 27,000 BTU depending on unit)
  • Hot water heater changed to Voltex Hybrid Electric Heat Pump (50-Gal.), Model HPTU-50N
  • Unit entry doors changed from hardened wood to hallowed steel (KD Frame, 90 Minute Steel Door)
  • New sewer pump added to cellar (Liberty Pumps, model Pro380)
  • Plan term extended six (6) months from amendment date
  • Schedule A prices increased for 5 homes (median +41.2%): 1 $999,000 → $1,470,000; 2 $950,000 → $1,438,500; 3F $650,000 → $745,500; 3R $650,000 → $750,750; ...

Amendment 2 Mar 22, 2018

Tax deductions updated for Tax Cuts and Jobs Act of 2017, first closing projected for June 1, 2018, and budget revised.

  • Real estate tax deduction capped at $10,000 combined with NY state and city income taxes
  • Mortgage interest deduction capped at $750,000 acquisition indebtedness
  • First closing now projected for June 1, 2018 (delayed from January 1, 2018)
  • First year of condominium operation: June 1, 2018 to May 31, 2019
  • Estimated first-year real estate taxes: $1,979 per unit; estimated annual taxes after completion: $83,945
  • Rescission rights if first closing delayed past December 31, 2018 (for existing contracts) or May 31, 2019 (for new contracts)
  • Offering plan term extended six months from amendment date

Amendment 1 Aug 18, 2017

Offering prices for five units are updated.

  • Unit 1 price set to $1,470,000
  • Unit 2 price set to $1,438,500
  • Unit 3F price set to $745,500
  • Unit 3R price set to $750,750
  • Unit 4 price set to $1,468,950
What each amendment changed, line by lineSee it free →

Team

Sponsor
180 Jackson Street LLC
Principals
Nadav Hamo
Construction lender
Ontario Wealth Management Corporation$1.8 million recorded
General contractors
Brooklyn B Company Group, Ile Construction GroupHeld the general construction permit on DOB job 320623900
Property report
IN FOCUSPrepared the plan's description of the property and its condition · Named on p. 140
Buyer's lender
Wells FargoThe sponsor's preferred mortgage lender; you can use another · Named on p. 6

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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The Condo Book Project Are 180 Jackson Street's common charges high for the area? They're in line. 180 Jackson Street budgets $0.40 per square foot a month, against a $0.40 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?