328 Atlantic Avenue Condominium
328 Atlantic Avenue, Brooklyn, NY 11201
Overview
328 Atlantic Avenue is a 4-unit condo in Brooklyn, with 1 storage unit and 1 commercial unit.
- Offering plan: Accepted December 2021 · 375 pages · floor plans on pages 185–186
- Finishes: Engineered wood floors, quartz kitchen countertops, Liebherr and Bertazzoni appliances, a washer and dryer in each apartment, Kohler bathroom fittings and a VRF heat pump system for heating and cooling
- Prices: $1,534 a square foot on average, as first offered; $13.4 million in all ($11.6 million when first offered)
- Developers: East Group Capital and GZB Realty; principals Itay Gamlieli
- Sponsor: 328 Atlantic LLC, represented by Jeffrey Zwick & Associates, P.C.
- Subway: 4-minute walk to Hoyt-Schermerhorn Sts (A, C, G); 5 minutes to Bergen St (F, G)
- Amendments: 2, the latest in February 2023
- Units
- 4 residential · 1 storage · 1 commercial
- Subway
- 4 min walk to Hoyt-Schermerhorn Sts A C GBergen St F G, 5 min
- Developers
- East Group Capital, GZB Realty
- Principals
- Itay Gamlieli
- Average $/sf
- $1,534Homes in Schedule A, as first offered
- Offering price
- $13.4 million total $11.6 million when first offered
- Floor plans
- Pages 185–186 of the plan
- SubmittedJanuary 2022
- AcceptedDecember 2021
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Aug 31, 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.
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 6 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Feb 8, 2023
First closing delayed to April 1, 2023; budget increased $13,400 with new management fee; unit prices updated; tax estimates and escrow bank changed.
- First closing projected date moved to April 1, 2023
- Management company fee added at $12,000 per year
- Reserve fund for major repairs increased from $3,000 to $4,400
- Overall budget increase of $13,400.00
- Unit prices updated: Comm $2,450,000.00, Unit 201 $2,695,000.00, Unit 301 $2,565,000.00
- Residential unit tax estimate decreased from $518,276.00 to $512,478.00
- ICAP tax abatement reduced from $17,264.00 to $6,351.00
- Escrow account moved from Signature Bank to Chase Bank, NA at 4724 13th Avenue, Brooklyn, NY 11219
- Schedule A prices increased for 4 homes (median +17.0%): 201 $2,340,000 → $2,695,000; 301 $2,262,000 → $2,565,000; 401 $2,223,000 → $2,600,000; 501 $2,960,000 → $3,500,000
Amendment 1 Jan 27, 2022
Unit designations updated for one unit, and offering prices revised for five units.
- Unit 501 redesignated as PH
- Unit C001 redesignated as S01
- Comm unit price set to $2,450,000
- Unit 201 price set to $2,590,000
- Unit 301 price set to $2,475,000
- Unit 401 price set to $2,535,000
- Unit PH price set to $3,311,000
Team
- Sponsor
- 328 Atlantic LLC
- Developers
- East Group Capital, GZB Realty
- Principals
- Itay Gamlieli
- Tax estimate
- MGNY ConsultingPrepared the first-year real estate tax projection
- Construction lender
- Bayport FundingLender on the mortgage and building loan agreement recorded July 2020 in ACRIS; $14.4 million recorded
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6A
- Commercial overlay
- C2-4
- Special district
- Special Downtown Brooklyn District (DB)Atlantic Avenue Subdistrict
Today's zoning, from city data (PLUTO 26v2).
Nearby
- Brooklyn Heights Luxury Condominiumsnext door · 7 units · 2007
- Phoenix Roze0.1 mi · 4 units · 2020
- Boerum Condominium0.1 mi · 128 units · 2014
- 362 State Street Condominium0.1 mi · 2 units · 2023
- Be@Schermerhorn0.1 mi · 246 units · 1 parking · 2008
- 211 Schermerhorn Condominium0.2 mi · 48 units · 2017
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