THE CONDO BOOK PROJECT

243 North 5th Street Condominium

243 North 5th Street, Brooklyn, NY 11211

Compare

Overview

243 North 5th Street is a 7-unit condo in Brooklyn.

  • Offering plan: Accepted February 2021 · 403 pages · floor plans on page 31
  • Finishes: 10-foot ceilings, hardwood floors, quartz kitchen countertops, wood veneer cabinets, JennAir and Jenn-Air appliances, washer/dryer hook-ups and split-system units for heating and cooling
  • Prices: $1,707 a square foot on average, as first offered; $15.1 million in all ($14.3 million when first offered)
  • Common charges: $434–$796 a month, the sponsor's first-year estimate
  • Developer: Bluefield Holdings, LLC; principals Elizabeth McDonald, Jason Blauvelt and Rocco Basile
  • Sponsor: 241-243 North 5th Street, LLC, represented by Rosen Law LLC
  • Neighborhood: Williamsburg, Brooklyn
  • Subway: 5-minute walk to Bedford Av (L); 5 minutes to Metropolitan Av/Lorimer St (G, L)
  • Amendments: 6, the latest in October 2022
  1. SubmittedFebruary 2021
  2. AcceptedFebruary 2021
  3. 6 amendments
  4. First sale
  5. Latest sale

Sales

7 of 7homes sold (100%)
Every sale: 7 homes, with price and dateSee it free →

From city records (ACRIS), through Jan 31, 2025.

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 243 North 5th Street's common charges compare with similar buildings? →

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills for 7 homes.

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 →

Amendments

Amendment 6 Oct 17, 2022

Post-closing update confirming all units sold, Certificate of Occupancy issued, and updated Schedule A and B for April 1, 2022 through March 31, 2023.

  • First closing (Unit 2B) occurred December 14, 2021; all units sold
  • Final Certificate of Occupancy issued September 1, 2022
  • Declaration of Condominium filed November 26, 2021 (CRFN # 2021000466967)
  • Working capital fund $5,844.83 as of May 20, 2022
  • Sponsor relinquished Board control April 12, 2022
  • Schedule A and Schedule B current for April 1, 2022 through March 31, 2023
  • Offering plan extended six (6) months
  • Schedule A prices increased for 7 homes (median +2.9%): 1A $2,149,000 → $2,199,000; 1B $2,169,000 → $2,199,000; 2A $1,749,000 → $1,799,000; 2B $1,749,000 → $1,799,000; ...

Amendment 5 Sep 29, 2021

Roof terrace removed from Unit 2B and assigned to Unit 4A, square footages revised for five units, and offering plan extended six months.

  • Unit 2B purchaser given right to rescind purchase agreement within 15 days
  • Roof terrace removed from Unit 2B (now 1,157.42 sq. ft., down from 1,159.29 sq. ft.)
  • Roof terrace removed from Unit 2A (now 1,157.78 sq. ft., down from 1,159.65 sq. ft.)
  • Unit 4A gained additional roof terrace area (total now approximately 874.78 sq. ft., up from 259.12 sq. ft.); bedroom count reduced from 4 to 3
  • Unit 1A square footage revised to approximately 1,817.19 sq. ft. (down from 1,842.03 sq. ft.)
  • Unit 1B square footage revised to approximately 1,753.27 sq. ft. (down from 1,756.89 sq. ft.)
  • Unit 4A lot line window revised; estimated cost to seal is approximately $2,000.00
  • Offering plan extended six months; estimated substantial completion December 2021

Amendment 4 Jul 14, 2021

Plan declared effective based on 2 units sold (29% of total); first closing deadline extended to October 7, 2023 due to COVID-19 tolling period.

  • Plan declared effective with 2 units sold (29% of residential units)
  • First closing deadline extended from April 1, 2022 to October 7, 2023 due to COVID-19 Executive Order tolling
  • Offering plan extended for 6 months
  • Unit 3A sold for $1,799,000
  • Unit 4A sold for $3,350,000

Amendment 3 Jun 30, 2021

Prices of two units (3A and 3B) increased to $1,850,000 each.

  • Unit 3A offering price changed to $1,850,000
  • Unit 3B offering price changed to $1,850,000

Amendment 2 Apr 19, 2021

Offering prices for all seven residential units have been changed.

  • Unit 1A price set to $2,199,000
  • Unit 1B price set to $2,199,000
  • Unit 2A price set to $1,799,000
  • Unit 2B price set to $1,799,000
  • Unit 3A price set to $1,799,000
  • Unit 3B price set to $1,799,000
  • Unit 4A price set to $3,350,000

Amendment 1 2021

Amendment clarifies that units 2A, 2B, 3A, and 3B each have roof terraces as limited common elements, and revises Schedule A to include roof terrace square footage.

  • Units 2A, 2B, 3A, and 3B now identified as having roof terraces as limited common elements
  • Unit 2A roof terrace: 303.16 sq. ft.
  • Unit 2B roof terrace: 363.90 sq. ft.
  • Unit 3A roof terrace: 387.77 sq. ft.
  • Unit 3B roof terrace: 420.38 sq. ft.
  • Schedule A revised to reflect roof terrace measurements for these units
What each amendment changed, line by lineSee it free →

Team

Sponsor
241-243 North 5th Street, LLC
Principals
Elizabeth McDonald, Jason Blauvelt, Rocco Basile
Tax estimate
Rosen Law, LLCPrepared the first-year real estate tax projection
Construction lender
1st Constitution Bank$6.26 million recorded
General contractor
Avo ConstructionHeld the general construction permit on DOB job 321069071
Property report
Paul Lombardi, R.A.Prepared the plan's description of the property and its condition · Named on p. 143
Title agency
Regal Title Agency, Inc.The sponsor's title company for buyers; you can choose another · Agent for First American Title Insurance Company · Named on p. 92
Buyer's lender
TD BankThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 18

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

Free in ChatGPT or Claude

Ask Claude or ChatGPT about 243 North 5th Street

The fastest way to know any condo or co-op

Get Connected →
The Condo Book Project Are 243 North 5th Street's common charges high for the area? No, they're on the low side. 243 North 5th Street budgets $0.41 per square foot a month, against a $0.49 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?