THE CONDO BOOK PROJECT

355 Kings Highway Condominium

355 Kings Highway, Brooklyn, NY 11223

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Overview

355 Kings Highway is a 28-unit condo in Brooklyn, with 19 parking units.

  • Offering plan: Accepted March 2005 · 267 pages
  • Finishes: 9-foot ceilings, mica cabinets, Magic Chef appliances, washer/dryer hook-ups and Huntington Brass bathroom fittings
  • Prices: $16 million in all
  • Common charges: $161–$404 a month, the sponsor's first-year estimate
  • Sponsor: 355 Realty Associates, LLC, represented by Victor Gartenstein, P.C.
  • Neighborhood: Gravesend, Brooklyn
  • Subway: 5-minute walk to Kings Hwy (N); 6 minutes to Kings Hwy (F)
  • Amendments: 9, the latest in March 2008
  1. SubmittedAugust 2005
  2. AcceptedMarch 2005
  3. 9 amendments
  4. First sale
  5. Latest sale

Sales

28 of 28homes sold (100%)
Every sale: 47 homes, with price and dateSee it free →

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 Kings Highway'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 10 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 9 2008

Sponsor no longer owns any units; all units are owned by Board of Managers members.

  • No units currently owned by sponsor
  • All current unit owners are members of the Board of Managers

Amendment 8 2007

Sponsor ownership updated, board composition confirmed, common charges increased, and offering plan extended.

  • Sponsor owns 1 residential unit (5C) and Community Facility
  • Board of Managers: Irene Gabbo (President), Stephen Gindi (Vice President), Marina Savelyev (Treasurer), Alla Kuzminova (Secretary)
  • Community Facility monthly common charges increased to $753.84
  • Unit 5C monthly common charges increased to $270.58
  • Offering plan extended for additional 12 months
  • 2008 budget total expenses: $109,583

Amendment 7 November 2006

Seventh amendment updates sponsor ownership, financial obligations, board composition, and extends the offering plan.

  • Sponsor owns 15 units plus 8 parking spaces
  • Sponsor's monthly common charge obligation is $4,608.43; aggregate monthly real estate taxes are $1,475.93
  • Board of Managers consists of Michael Marino, Anthony Piscione and Ahron Hersh
  • Unsold units subject to North Fork Bank blanket mortgage of approximately $492,252.86 with monthly payment of $3,794.45
  • Projected budget includes increase in common charges for all unit owners
  • Offering plan extended for additional 12 months
  • Typographical corrections made to Reports to Unit Owners regarding specified dates and days
What each amendment changed, line by lineSee it free →

Team

Sponsor
355 Realty Associates, LLC
Tax estimate
Victor Gartenstein P.C.Prepared the first-year real estate tax projection
Construction lender
North Fork BankLender on the mortgage and building loan agreement recorded March 2004 in ACRIS; $6.65 million recorded
General contractor
Foremost ContrHeld the general construction permit on DOB job 301504316
Title agency
Prime Land Services, LLCThe sponsor's title company for buyers; you can choose another · Named on p. 48

From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?

Zoning

Zoning districts
R7A, R4-1The lot is split between two districts, the largest share first
Commercial overlay
C2-3

Today's zoning, from city data (PLUTO 26v2).

Nearby

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