25 Bartlett Condominium
25 Bartlett Street, Brooklyn, NY 11206
Overview
25 Bartlett is an 18-unit condo in Brooklyn, with 1 commercial unit.
- Offering plan: Accepted May 2020 · 426 pages · floor plans on page 28
- Finishes: 10-foot ceilings, quartz kitchen countertops, Miton Cucine cabinets, GE and Blomberg appliances, washer/dryer hook-ups, Delta bathroom fittings and a VRF heat pump system for heating and cooling
- Prices: $728 a square foot on average, as first offered; $31.2 million in all ($30 million when first offered)
- Common charges: $208–$607 a month, the sponsor's first-year estimate
- Sponsor: 58 Gerry St LLC, represented by Law Office Of Jay Lichtman, P.C.; principals Abraham Brach
- Subway: 4-minute walk to Flushing Av (G); 5 minutes to Lorimer St (J, M)
- Amendments: 3, the latest in May 2021
- Units
- 18 residential · 1 commercial
- Subway
- 4 min walk to Flushing Av GLorimer St J M, 5 min
- Principals
- Abraham Brach
- Average $/sf
- $728Homes in Schedule A, as first offered
- Common charges
- $208–$607 a monthSponsor's first-year estimate in Schedule A, July 1, 2020 - June 30, 2021
- Offering price
- $31.2 million total $30 million when first offered
- Floor plans
- Page 28 of the plan
- SubmittedJuly 2020
- AcceptedMay 2020
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Feb 28, 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 4 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 →The Building
Amendments
Amendment 3 May 25, 2021
Third Amendment adds FinCEN reporting requirements for certain cash purchases, provides status updates on occupancy and financing, and extends the offering plan term by six months.
- FinCEN Geographic Targeting Order reporting required for entity purchasers paying $300,000+ in cash without bank financing (May 5 - October 31, 2021)
- Final Certificate of Occupancy issued August 27, 2020; building has 18 dwelling units
- First unit closed October 26, 2020; Condominium Declaration recorded October 2, 2020
- Six unsold units remain; prices range from $1,440,000 to $2,124,720
- Working capital fund $226.09; Reserve Fund $438.57
- Sponsor mortgage with Bridge City Capital LLC for $20,000,000 with maturity date February 15, 2022
- Sponsor to relinquish Board control at Unit Owners meeting projected for July 2021
- Offering plan term extended six months from amendment date
Amendment 2 Feb 12, 2021
Offering price for Unit C1 changed to $5,250,000.
Amendment 1 Jul 9, 2020
Amendment adds FinCEN reporting requirements for certain cash purchases, declares the plan effective with 3 units sold, and extends the plan term by six months.
- FinCEN Currency Transaction Report required for certain business entity purchases of $300,000+ without bank financing, effective May 10, 2020 through November 5, 2020
- Plan declared effective as of July 9, 2020 with 3 units sold (16% of residential units)
- Plan term extended six months from the amendment date
Team
- Sponsor
- 58 Gerry St LLC
- Principals
- Abraham Brach
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- 58 Gerry Street 1
- General contractor
- Parkview BuildersHeld the general construction permit on DOB job 321585664
- Buyer's lenders
- ABC Mortgage Corp, Meadowbrook Financial MortgageThe sponsor's preferred mortgage lenders; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 258
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R7A
- Commercial overlay
- C2-4
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 58 Gerry Street Condominiumnext door · 23 units · 2020
- 16 Bartlett Street Condominiumnext door · 10 units · 2020
- 66 Gerry Street Condominiumnext door · 3 units · 2026
- 60 Gerry Street Condominiumnext door · 3 units · 2026
- 30 Bartlett Street Condominiumnext door · 6 units · 2025
- 77 Gerry Street Condominiumnext door · 4 units · 2025
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