196 Devoe Street Condominium
196 Devoe Street, Brooklyn, NY 11211
Overview
196 Devoe Street is a 7-unit condo in Brooklyn, with 1 storage unit.
- Offering plan: Accepted August 2019 · 348 pages · floor plans on page 22
- Finishes: Hardwood floors, granite kitchen countertops, Frigidaire appliances, washer/dryer hook-ups and split-system units for heating and cooling
- Prices: $1,277 a square foot on average, as first offered; $6.53 million in all ($4.84 million when first offered)
- Common charges: $180–$593 a month, the sponsor's first-year estimate
- Sponsor: 196 Devoe St LLC, represented by The Law Office Of Jay Lichtman, P.C.; principals Arie Bar Chaim
- Subway: 2-minute walk to Graham Av (L); 4 minutes to Grand St (L)
- Amendments: 2, the latest in May 2020
- Units
- 7 residential · 1 storage
- Subway
- 2 min walk to Graham Av LGrand St L, 4 min
- Principals
- Arie Bar Chaim
- Average $/sf
- $1,277Homes in Schedule A, as first offered
- Common charges
- $180–$593 a monthSponsor's first-year estimate in Schedule A, October 1, 2019 - September 30, 2020
- Offering price
- $6.53 million total $4.84 million when first offered
- Floor plans
- Page 22 of the plan
- SubmittedFebruary 2020
- AcceptedAugust 2019
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through May 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 1 home.
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 2 May 20, 2020
Amendment adds disclosures on FinCEN reporting requirements and new NY transfer taxes, removes storage unit S1, updates construction timeline and first-year operating date to July 1, 2020, and revises building systems and finishes specifications.
- FinCEN reporting requirement for certain entity purchases of $300,000+ without bank financing
- New NY State transfer tax structure: Base Tax increases to 0.65% for purchases $3,000,000+; Supplemental Tax added for purchases $2,000,000+
- Storage unit S1 removed from offering; total offering price decreased by $15,000.00
- First year of condominium operation now projected to begin July 1, 2020
- Construction substantially completed June 2020; Temporary Certificate of Occupancy June 2020; Final Certificate of Occupancy November 2020
- Building will not have natural gas service; all appliances electrical
- Winder stairs in Units 1 & 4R not code compliant; NYC DOB may require reconstruction at Sponsor expense
- Unit 4R assigned private terrace as limited common element with 2-person occupancy limit
- Schedule A prices increased for 6 homes (median +34.8%): 1 $1,325,000 → $1,650,000; 2F $435,000 → $629,000; 2R $575,000 → $895,000; 3F $570,000 → $745,000; ...
Amendment 1 Feb 25, 2020
Offering prices for eight units are updated.
- Unit 1: $1,650,000
- Unit 2F: $629,000
- Unit 2R: $895,000
- Unit 3F: $745,000
- Unit 3R: $745,000
- Unit 4F: $775,000
- Unit 4R: $1,075,000
- Unit S1: $15,000
Team
- Sponsor
- 196 Devoe St LLC
- Principals
- Arie Bar Chaim
- Tax estimate
- mretax.comPrepared the first-year real estate tax projection
- Construction lender
- Quanta Finance$2.5 million recorded
- General contractor
- Brooklyn AzHeld the general construction permit on DOB job 321188745
- Property report
- Wu Chen, P.E.Prepared the plan's description of the property and its condition · Named on p. 135
- Buyer's lender
- Wells FargoThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 208
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
- 171 Devoe Street Condominiumnext door · 6 units · 2018
- 355 Humboldt Street Condominiumnext door · 5 units · 2017
- 772 Metropolitan Avenue Condominiumnext door · 9 units · 2025
- 30 Bushwick Avenue Condominiumnext door · 22 units · 2024
- 320 Humboldt Street Condominiumnext door · 5 units · 2017
- 156 Devoe Street Condominiumnext door · 8 units · 2022
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