Middleton Units Condominium
24 Middleton Street, Brooklyn, NY 11206
Overview
Middleton Units is a 16-unit condo in Brooklyn, with 1 commercial unit.
- Offering plan: Accepted January 2024 · 357 pages · floor plans on page 38
- Prices: $1,977 a square foot on average, as first offered; $77 million in all ($70 million when first offered)
- Common charges: $233–$1,066 a month, the sponsor's first-year estimate
- Sponsor: Krula Holdings LLC, represented by The Law Office Of Jay Lichtman, PC; principals Abraham Mandel
- Neighborhood: Williamsburg, Brooklyn
- Subway: 7-minute walk to Flushing Av (G); 9 minutes to Broadway (G)
- Amendments: 2, the latest in October 2024
- Units
- 16 residential · 1 commercial
- Neighborhood
- Williamsburg, Brooklyn
- Subway
- 7 min walk to Flushing Av GBroadway G, 9 min
- Principals
- Abraham Mandel
- Average $/sf
- $1,977Homes in Schedule A, as first offered
- Common charges
- $233–$1,066 a monthSponsor's first-year estimate in Schedule A, July 1, 2024 - June 30, 2024
- Offering price
- $77 million total $70 million when first offered
- Floor plans
- Page 38 of the plan
- SubmittedAugust 2024
- AcceptedJanuary 2024
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Jul 31, 2026.
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 16 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The plan lists what a buyer pays at closing.
All 8 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Oct 1, 2024
Rear Yard Unit converted from common element to separate saleable unit with special common charge allocation and tax treatment.
- Rear Yard Unit now offered for sale at $7,000,000.00
- Rear Yard Unit allocated 5.33% common interest but pays only $100.00 monthly common charges (de minimis)
- Construction substantially completed as of August 2024
- 18 total condominium units: 16 residential, 1 community facility, 1 rear yard
- Rear Yard Unit classified as tax class 4; residential units as tax class 2
- Projected 2024/2025 real estate taxes: $8,500 (community facility), $487,729 (residential), $24,120 (rear yard)
- Rear Yard Unit owner responsible for self-maintenance and own insurance; no building access
- Offering Plan term extended 6 months
Team
- Sponsor
- Krula Holdings LLC
- Principals
- Abraham Mandel
- Tax estimate
- RE Tax ServicePrepared the first-year real estate tax projection
- Construction lender
- Parke Bank$23.8 million recorded
- General contractors
- B T General Builders, Preferred GC GroupHeld the general construction permit on DOB NOW job B00490620
- Buyer's lender
- ABC Mortgage CorpThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · 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
- R7-1
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 40 Middleton Street Condominiumnext door · 12 units · 2003
- 57 Lynch Street Condominiumnext door · 3 units · 2023
- 55 Lynch Street Condominiumnext door · 3 units · 2023
- 217 Lee Avenue Condominiumnext door · 3 units · 2023
- 74 Heyward Street Condominium0.1 mi · 4 units · 2023
- 31 Spencer Street Condominium0.2 mi · 2021
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