323 South 5th Street Condominium
323 South 5th Street, Brooklyn, NY 11211
Overview
323 South 5th Street is a new 4-unit condo in Brooklyn.
- Offering plan: Accepted September 2024 · 266 pages · floor plans on page 202
- Finishes: 9-foot ceilings, engineered wood floors, quartz kitchen countertops, a washer and dryer in each apartment, Delta bathroom fittings and split-system units for heating and cooling
- Prices: $1,973 a square foot on average, as first offered; $8.05 million in all
- Common charges: $373–$1,049 a month, the sponsor's first-year estimate
- Sponsor: 323 S5 LLC, represented by Eial Girtz, PC; principals Zhi Xiang Lin, Jawad Lakhani and Junaid Lakhani
- Neighborhood: Williamsburg, Brooklyn
- Subway: 3-minute walk to Marcy Av (J, M, Z); 3 minutes to Hewes St (J, M)
- Amendments: 1, the latest in January 2025
- Units
- 4 residential
- Neighborhood
- Williamsburg, Brooklyn
- Subway
- 3 min walk to Marcy Av J M ZHewes St J M, 3 min
- Principals
- Zhi Xiang Lin, Jawad Lakhani, Junaid Lakhani
- Average $/sf
- $1,973Homes in Schedule A, as first offered
- Common charges
- $373–$1,049 a monthSponsor's first-year estimate in Schedule A, July 1, 2024 To June 30, 2025
- Offering price
- $8.05 million total
- Floor plans
- Page 202 of the plan
- SubmittedJanuary 2025
- AcceptedSeptember 2024
- 1 amendment
- First sale
- Latest sale
Units & Prices
Sales
3 of 4homes sold (75%)
From city records (ACRIS), through Sep 30, 2025.
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 for 3 homes.
Each home's estimate, city bills and tax breaksSee it free →Compare
| Figure | This building1 | 130 Huron24 units · 1.7 miaccepted 2024 | 183 Java35 units · 1.6 miaccepted 2024 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.60In line | $0.64 | $0.41 |
| Average Offering PricePer Apartment | $2.01MIn line | $2.3M | $1.86M |
| Average PricePer Square Foot | $1,973Above peers | $1,932 | $1,926 |
| Average Unit SizeSquare Feet | 1,020 SFIn line | 1,191 SF | 964 SF |
How We Got This
- Comps: the closest Brooklyn plans on size, $/SF and launch date, within 2 miles when possible.
- Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
- Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
- Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.
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 1 Dec 27, 2024
This amendment declares the offering plan effective based on execution of a purchase agreement for one unit, and extends the plan for 6 months.
- Plan declared effective December 12, 2024 (notice delivered December 16, 2024)
- Plan extended for 6 months
- Unit 2 is in contract (dated 12/10/24)
- One unit purchase agreement represents 25% of four units offered
Team
- Sponsor
- 323 S5 LLC
- Principals
- Zhi Xiang Lin, Jawad Lakhani, Junaid Lakhani
- Counsel
- Eial Girtz, PC
- Tax estimate
- RE Tax Service, LLCPrepared the first-year real estate tax projection
- Construction lender
- Five Towns Investors$3.5 million loan stated in the plan
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 317 South 5th Street Condominiumnext door · 4 units · 2019
- 382 Keap Street Condominum0.2 mi · 2 units · 2021
- 232 South 2nd Street0.3 mi · 4 units · 2023
- 66 Hope Street Condominium0.3 mi · 6 units · 2024
- 365-367 Union Avenue Condominium0.3 mi · 14 units · 4 parking · 2007
- 147 Hope Condominium0.3 mi · 38 units · 2018
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