3016 Brighton 5th Street Condominium
3016 Brighton 5th Street, Brooklyn, NY 11235
Overview
3016 Brighton 5th Street is a 16-unit condo in Brooklyn, with 11 parking units.
- Offering plan: Accepted November 2018 · 300 pages · floor plans on page 4
- Finishes: Hardwood floors, laminate kitchen countertops, Frigidaire appliances and washer/dryer hook-ups
- Prices: $665 a square foot on average, as first offered; $8.29 million in all
- Common charges: $275–$292 a month, the sponsor's first-year estimate
- Developers: Royal Home Management Inc. and Jacobs Development Corp.
- Sponsor: Royal Builders Development LLC, represented by Tsyngauz & Associates, P.C.
- Neighborhood: Brighton Beach, Brooklyn
- Subway: 3-minute walk to Brighton Beach (B, Q); 8 minutes to Ocean Pkwy (Q)
- Amendments: 4, the latest in September 2020
- Units
- 16 residential · 11 parking
- Neighborhood
- Brighton Beach, Brooklyn
- Subway
- 3 min walk to Brighton Beach B QOcean Pkwy Q, 8 min
- Developers
- Royal Home Management Inc., Jacobs Development Corp.
- Average $/sf
- $665Homes in Schedule A, as first offered
- Common charges
- $275–$292 a monthSponsor's first-year estimate in Schedule A, July 1, 2019 - June 30, 2020
- Offering price
- $8.29 million total
- Floor plans
- Page 4 of the plan
- SubmittedJuly 2019
- AcceptedNovember 2018
- 4 amendments
- First sale
- Latest sale
Units & Prices
Sales
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)
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 3 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Dec 26, 2019
Building received final certificate of occupancy; condominium declaration recorded; first operating year and budget set for February 1, 2020 to January 31, 2021; first closing deadline set for June 30, 2020.
- Final certificate of occupancy issued September 11, 2019
- Condominium declaration recorded December 24, 2019
- First year of condominium operation: February 1, 2020 to January 31, 2021
- Budget total: $58,223.00 (common charges and expenses)
- First closing must occur by June 30, 2020 or purchasers entitled to rescission
- Plan term extended six (6) months from amendment acceptance date
Amendment 1 Jul 12, 2019
Amendment declares the offering plan effective upon acceptance, announces new New York State transfer and mansion tax rates effective July 1, 2019, and confirms four residential units (25% of units) have been purchased.
- Plan declared effective upon acceptance of amendment
- Four residential units (25% of all units) have purchase agreements
- New York transfer tax increased to 0.65% for residential properties $3M+, effective July 1, 2019
- New York mansion tax supplemental tax added, rates up to 3.9% for properties $25M+, effective July 1, 2019
- Binding agreements entered into on or before April 1, 2019 grandfathered from new tax rates
- Typical closing costs may increase due to new taxes
Team
- Sponsor
- Royal Builders Development LLC
- Developers
- Royal Home Management Inc., Jacobs Development Corp.
- Counsel
- Tsyngauz & Associates, P.C.
- Tax estimate
- MGNY Consulting Corp.Prepared the first-year real estate tax projection
- Construction lender
- Valley National Bank$3.5 million loan stated in the plan
- General contractor
- Jacobs DevelopmentHeld the general construction permit on DOB job 321390650
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6
- Special district
- Special Ocean Parkway District (OP)
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 3031 Brighton 5th Street Condominiumnext door · 16 units · 9 parking · 2022
- Brighton Tower Ii Condominiumnext door · 38 units · 44 parking · 2008
- Carriage On The Beach Condominiumnext door · 33 units · 17 parking · 2026
- 2940 Brighton 4 Condominium0.1 mi · 13 units · 7 parking · 2026
- 3004 Brighton 7th Street Condominium0.1 mi · 8 units · 2 parking · 2026
- 2929 Brighton 5th Street Condominium0.1 mi · 20 units · 10 parking · 2025
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