327 20th Street Condominium
327 20th Street, Brooklyn, NY 11215
Overview
327 20th Street is a 4-unit condo in Brooklyn.
- Offering plan: Accepted June 2020 · 303 pages · floor plans on page 4
- Finishes: Hardwood floors, laminate kitchen countertops, Frigidare appliances, washer/dryer hook-ups, American Standard bathroom fittings and split-system units for heating and cooling
- Prices: $1,256 a square foot on average, as first offered; $7.03 million in all
- Common charges: $403–$550 a month, the sponsor's first-year estimate
- Developer: Standard One Developers Inc.; principals Yuriy Grytsenko
- Sponsor: 327-329 Development LLC, represented by Tsyngauz & Associates, P.C.
- Subway: 10-minute walk to Prospect Av (R); 12 minutes to 25 St (R)
- Amendments: 5, the latest in May 2022
- Units
- 4 residential
- Subway
- 10 min walk to Prospect Av R25 St R, 12 min
- Developer
- Standard One Developers Inc.
- Principals
- Yuriy Grytsenko
- Average $/sf
- $1,256Homes in Schedule A, as first offered
- Common charges
- $403–$550 a monthSponsor's first-year estimate in Schedule A, September 1, 2020 - August 31, 2021
- Offering price
- $7.03 million total
- Floor plans
- Page 4 of the plan
- SubmittedFebruary 2021
- AcceptedJune 2020
- 5 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)
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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 →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 →The Building
Amendments
Amendment 4 Oct 20, 2021
Amendment updates unsold unit details, sponsor financial status, board control transition timing, and real property transfer tax rules.
- Unsold units: Unit 1 (30.77% common interest, $549.68 monthly charges, $1,232.00 monthly taxes) and Unit 2 (22.68% common interest, $405.16 monthly charges, $908.08 monthly taxes)
- No unsold units occupied by tenants
- Sponsor current on all financial obligations with none due within 12 months except common charges and real estate taxes
- No unsold units encumbered by mortgages
- Sponsor control of board transfers at first Unit Owners meeting within 30 days after March 25, 2024, or when unsold units fall below 50% of common interests, whichever is sooner
- Real property transfer tax: 0.4% for units under $3,000,000; 0.65% for units $3,000,000 or more; as of July 1, 2021 such tax excluded from consideration calculation
- Plan term extended six (6) months from amendment filing date
Amendment 3 Apr 22, 2021
Third amendment confirms first closing occurred, provides occupancy and financial status, lists three unsold units, and sets board control relinquishment timeline.
- First unit closing occurred March 25, 2021 at TSYNGAUZ & ASSOCIATES P.C.
- Final certificate of occupancy issued December 23, 2020
- Condominium declaration recorded March 17, 2021 in CRFN 2021000098821
- Real estate taxes separately assessed by NYC Department of Finance as of July 1, 2021
- Working capital account has $428.38; reserve fund has $856.76
- Three unsold units held by sponsor with total common interest of 76.02%
- Mortgage debt of $650,060.43 owed to Ponce Bank
- Sponsor to relinquish board control within 30 days after March 25, 2024 or when unsold units fall below 50%
Amendment 2 Feb 25, 2021
The offering plan is declared effective following acceptance of one unit purchase agreement constituting 25.00% of all units offered.
- Offering plan declared effective on February 19, 2021
- Sponsor accepted purchase agreement for one (1) Unit constituting 25.00% of all units
Amendment 1 Feb 3, 2021
Construction completed, first closing expected by July 1, 2021, condominium operations begin July 1, 2021, real estate taxes reduced 36.68%, and sponsor address updated.
- Final certificate of occupancy issued December 23, 2020
- First closing anticipated by July 1, 2021; rescission right if closing delayed beyond June 30, 2022
- Condominium operation year: July 1, 2021 to June 30, 2022
- Projected annual real estate taxes $48,046.53 (decreased 36.68% from original projection)
- Taxable assessed value $391,673.00; Tax Class 2 at 12.267% rate
- Sponsor address: 37 West End Avenue, #2F, Brooklyn, NY 11235
- Sponsor's attorneys address: 114 Mulberry Street, 1st fl., New York, NY 10013
- Schedule A and Schedule B revised to reflect new dates and tax amounts
Team
- Sponsor
- 327-329 Development LLC
- Developer
- Standard One Developers Inc.
- Principals
- Yuriy Grytsenko
- Counsel
- Tsyngauz & Associates, P.C.
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Ponce Bank$2.35 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
- R6B
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 353 20th Street Condominiumnext door · 5 units · 2024
- Stanton On Sixth Condominiumnext door · 34 units · 18 parking · 2017
- Abby Court Condominiumnext door · 16 units · 2006
- Twenty First Street Condominiumnext door · 8 units · 2022
- 719 6th Avenue Condominium0.1 mi · 12 units · 6 parking · 2019
- Oslo Condominium0.1 mi · 13 units · 2004
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