THE CONDO BOOK PROJECT

Boerum Condominium

265 State Street, Brooklyn, NY 11201

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Overview

Boerum is a 128-unit condo in Brooklyn, with 3 commercial units.

  • Offering plan: Accepted October 2014 · 455 pages · floor plans on page 59
  • Finishes: Wood floors, Wolf appliances, a washer and dryer in each apartment and ducted heat pumps for heating and cooling
  • Prices: $1,330 a square foot on average, as first offered; $277.9 million in all ($251.6 million when first offered)
  • Common charges: $712–$2,688 a month, the sponsor's first-year estimate
  • Developer: Flank 71 Smith L.L.C; principals Jonathan Kully and Michael Walsdorf
  • Sponsor: 71 Smith Street Property Owner, LLC, represented by Bryan Cave Leighton Paisner LLP
  • Subway: 3-minute walk to Hoyt-Schermerhorn Sts (A, C, G); 4 minutes to Jay St-MetroTech (A, C, F, R)
  • Amendments: 23, the latest in August 2017
  • Other filings: NA230135 (no-action filing, filed 2023)
  1. SubmittedDecember 2014
  2. AcceptedOctober 2014
  3. 23 amendments
  4. First sale
  5. Latest sale

Sales

128 of 128homes sold (100%)
Every sale: 129 homes, with price and dateSee it free →

From city records (ACRIS), through Sep 30, 2026.

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 Boerum's common charges compare with similar buildings? →

Property Taxes

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

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

Team

Sponsor
71 Smith Street Property Owner, LLC
Developer
Flank 71 Smith L.L.C
Principals
Jonathan Kully, Michael Walsdorf
Tax estimate
Marcus & Pollack LLPPrepared the first-year real estate tax projection
Construction lender
M&T Bank
General contractor
Lettire ConstructionHeld the general construction permit on DOB job 320517927

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

Zoning

Zoning district
C6-1
Special district
Special Downtown Brooklyn District (DB)

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

Nearby

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The Condo Book Project Are Boerum's common charges high for the area? Yes, they're on the high side. Boerum budgets $0.94 per square foot a month, against a $0.89 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?
Free: all 132 units, every budget line, every saleSee it free