355 Condominium
355 53 Street, Brooklyn, NY 11220
Overview
355 is an 8-unit condo in Brooklyn.
- Offering plan: Accepted August 2024 · 258 pages · floor plans on page 39
- Finishes: 8-foot ceilings, marble kitchen countertops, custom-made hardwood cabinets, LG appliances, a washer and dryer in each apartment and split-system units for heating and cooling
- Prices: $1,029 a square foot on average, as first offered; $5.22 million in all ($5.43 million when first offered)
- Common charges: $233–$478 a month, the sponsor's first-year estimate
- Sponsor: 355 Reig LLC, represented by Dylan Chan Law Firm, P.C.; principals Ding Xing Chen, Kevin Ma and King Li
- Neighborhood: Sunset Park, Brooklyn
- Subway: 1-minute walk to 53 St (R); 7 minutes to 59 St (N, R)
- Amendments: 2, the latest in January 2025
- Units
- 8 residential
- Neighborhood
- Sunset Park, Brooklyn
- Subway
- 1 min walk to 53 St R59 St N R, 7 min
- Principals
- Ding Xing Chen, Kevin Ma, King Li
- Average $/sf
- $1,029Homes in Schedule A, as first offered
- Common charges
- $233–$478 a monthSponsor's first-year estimate in Schedule A, April 1, 2024 – March 31, 2025
- Offering price
- $5.22 million total $5.43 million when first offered
- Floor plans
- Page 39 of the plan
- SubmittedAugust 2024
- AcceptedAugust 2024
- 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)
Ask Claude or ChatGPT: How do 355'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 7 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Dec 16, 2024
Plan declared effective after 25% of units (2 of 8) sold to bona fide purchasers; first closing expected about two months after effectiveness.
- Plan declared effective as of December 16, 2024
- Two units (25% of 8 residential units) sold to bona fide purchasers, exceeding 15% minimum threshold
- First closing anticipated about two months after plan effectiveness
- No occupied units; no units rented or leased
- Construction almost completed
- No material changes to budget for fiscal year commencing April 1, 2024
Amendment 1 Sep 10, 2024
First amendment corrects unit storage and backyard dimensions, raises prices for units 1A and 1B, updates the first year of operation dates, corrects the total offering price, and provides updated budget certification.
- Total offering price corrected from $5,427,769 to $5,221,288
- Unit 1A price increased to $625,300.00
- Unit 1B price increased to $796,300.00
- Storage dimensions corrected in Schedule A per Department of Buildings approved plans
- Unit 1B backyard dimensions corrected
- First year of operation changed to November 1, 2024 to October 31, 2025
- Schedule B budget updated for corrected first year dates
- Temporary Certificate of Occupancy anticipated within approximately two months
Team
- Sponsor
- 355 Reig LLC
- Principals
- Ding Xing Chen, Kevin Ma, King Li
- Counsel
- Dylan Chan Law Firm, P.C.
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- CrowdFunz$1.5 million loan stated in the plan
- General contractor
- Dynasty ContractingHeld the general construction permit on DOB job 321828572
- Structural engineer
- Peter Tauberer, P.E.Named on p. 175
- Title agency
- Federal Standard AbstractThe sponsor's title company for buyers; you can choose another · Named on p. 29
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
- Lista Condominiumnext door · 8 units · 2009
- Brooklyn 49 Condominiums0.2 mi · 25 units · 1 parking · 2018
- 235 55th Street Condominium0.2 mi · 8 units · 2014
- 229 55th Street Condominium0.2 mi · 7 units · 4 parking · 2018
- Viking Sunset Condominium0.2 mi · 6 units · 2012
- Lucky Property Condominium0.4 mi · 7 units · 2025
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