THE CONDO BOOK PROJECT

Aster Garden Condominium

2491 Ocean Avenue, Brooklyn, NY 11229

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Overview

Aster Garden is a 10-unit condo in Brooklyn, with 3 parking units.

  • Offering plan: Accepted October 2021 · 283 pages · floor plans on page 184
  • Finishes: Hardwood floors, cultured marble kitchen countertops, Haier, Whirlpool and Whirpool appliances, washer/dryer hook-ups, Delta bathroom fittings and split-system units for heating and cooling
  • Prices: $801 a square foot on average, as first offered; $4.63 million in all ($5.36 million when first offered)
  • Common charges: $324–$457 a month, the sponsor's first-year estimate
  • Sponsor: Aster Garden LLC, represented by Lawrence Lixin Yang, P.C.; principals Lixian Ma
  • Neighborhood: Sheepshead Bay, Brooklyn
  • Subway: 7-minute walk to Avenue U (Q); 11 minutes to Neck Rd (Q)
  • Amendments: 5, the latest in July 2023
  1. SubmittedJanuary 2022
  2. AcceptedOctober 2021
  3. 5 amendments
  4. First sale
  5. Latest sale

Sales

10 of 10homes sold (100%)
Every sale: 10 homes, with price and dateSee it free →

From city records (ACRIS), through Oct 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 Aster Garden's common charges compare with similar buildings? →

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills for 10 homes.

Each home's estimate, city bills and tax breaksSee it free →

Closing Costs

The plan lists what a buyer pays at closing.

All 5 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 5 Jul 20, 2023

Offering plan term extended; unit prices reduced across 10 residential units; common charges increased about 10% due to reserve fund; sponsor retains 32.0038% ownership with 4 unsold units.

  • Offering prices reduced: total from $5,355,000 to $4,633,000 across all units
  • Common charges increased about 10% due to reserve fund establishment
  • Sponsor owns 32.0038% with units 2A, 2B, 6B, PS1H unsold
  • Budget for July 1, 2023 to June 30, 2024 with total projected income/expenses of $47,412.00
  • FinCEN reporting requirements for all-cash purchases $300,000+ effective October 22, 2023 to April 18, 2024
  • New York State Real Estate Transfer Tax law Section 1404(a) compliance added

Amendment 4 Oct 4, 2022

Fourth amendment extends the offering plan term by six months and discloses post-closing status including unit closings, working capital deposits, and board composition.

  • Offering plan term extended by six months from filing date
  • First unit closed July 12, 2022
  • Five of ten units closed; five units unsold and held by Sponsor; two units currently in contract
  • Working capital fund of $1,764.35 deposited with East West Bank
  • Escrow account of $7,183.66 held by Lawrence Lixin Yang, P.C.
  • Lixian Ma is current Board member, President and Treasurer
  • First unit owners meeting not yet scheduled; will occur within 30 days after Initial Sponsor Control Period ends

Amendment 3 Jun 3, 2022

Sponsor's business address changed to a new Brooklyn location.

Amendment 2 Apr 11, 2022

Amendment changes working capital fund contribution requirements for new purchasers and establishes a reserve fund of $4,310.00.

  • Working capital fund contribution changed to two (2) months of common charges at closing, not credited against purchase price
  • New working capital requirement applies only to purchasers with agreements after amendment filing; existing contracts exempt
  • Sponsor to deposit $4,310.00 into reserve fund upon first unit closing
  • Reserve fund equals ten (10%) percent of first year budget (July 1, 2022 to June 30, 2023)
  • Reserve fund becomes part of common charges shared by unit owners from second year onward

Amendment 1 Dec 28, 2021

Sponsor declares the offering plan effective after 2 units (20% of total) have been purchased.

  • Offering plan declared effective by sponsor on December 28, 2021
  • Two units in contract: Unit 5A (purchased December 15, 2021) and Unit 2B (purchased December 17, 2021)
  • No closings will occur until this amendment is accepted for filing by the Attorney General
What each amendment changed, line by lineSee it free →

Team

Sponsor
Aster Garden LLC
Principals
Lixian Ma
Tax estimate
LAWRENCE LIXIN YANG, P.C.Prepared the first-year real estate tax projection
Construction lender
Slvn1$2.15 million recorded
General contractors
TCJ Construction, Any ConstructionHeld the general construction permit on DOB job 321188647
Property report
Tan Architect, P.C.Prepared the plan's description of the property and its condition · Named on p. 121
Title agency
Liberty Land Abstract, Inc.The sponsor's title company for buyers; you can choose another · Agent for Chicago Title Insurance Company · Named on p. 74

From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?

Zoning

Zoning district
R6A

Today's zoning, from city data (PLUTO 26v2).

Nearby

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The Condo Book Project Are Aster Garden's common charges high for the area? No, they're on the low side. Aster Garden budgets $0.54 per square foot a month, against a $0.56 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?