THE CONDO BOOK PROJECT

359 7th Street Condominium

359 7th Street, Brooklyn, NY 11215

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Overview

359 7th Street is a 4-unit condo in Brooklyn.

  • Offering plan: Accepted June 2017 · 201 pages · floor plans on page 3
  • Finishes: 8'10" ceilings, hardwood floors, quartz kitchen countertops, Bosch appliances, a washer and dryer in each apartment and split-system units for heating and cooling
  • Prices: $1,163 a square foot on average, as first offered; $5.52 million in all ($5.25 million when first offered)
  • Common charges: $196–$295 a month, the sponsor's first-year estimate
  • Sponsor: Rggs Properties, LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.; principals Robert Saffayeh, George Saffayeh, Hyun K. Shin, Jack Shin, Brian Shin and Therese McInerney
  • Neighborhood: Park Slope, Brooklyn
  • Subway: 6-minute walk to 4 Av-9 St (F, G, R); 7 minutes to 7 Av (F, G)
  • Amendments: 3, the latest in May 2018
  1. SubmittedSeptember 2017
  2. AcceptedJune 2017
  3. 3 amendments
  4. First sale
  5. Latest sale

Sales

4 of 4homes sold (100%)
Every sale: 4 homes, with price and dateSee it free →

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)

Ask Claude or ChatGPT: How do 359 7th Street'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 5 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 3 May 24, 2018

All units sold, sponsor retains no unsold units, permanent Certificate of Occupancy obtained, offering plan extended for six months.

  • First unit closed April 26, 2018
  • All units sold; sponsor retains no unsold units
  • Permanent Certificate of Occupancy obtained August 14, 2018
  • Working capital fund of $3,994.00 maintained at Chase Bank
  • First board meeting held July 17, 2018
  • Offering plan extended for additional six months

Amendment 2 Sep 14, 2017

Engineer's description updated with specifications for building materials, mechanical systems, and appliances.

  • Front facade changed to brick with stucco border
  • Balcony railings to be painted steel
  • 15 year manufacturer warranty added for roof
  • Sump pump and sewer ejector pump added for cellar drainage (Liberty Pumps models specified)
  • One roof condenser relocated from bulkhead to roof
  • Hot water heaters specified as Navien model NPE 240S with 0.99 Energy Factor
  • Common area lighting fixtures specified (Nora, Satco Nuvo, Barn Light models)
  • Kitchen appliances specified (Bosch 800 Series range/dishwasher/microwave, Liebherr refrigerator, Toto or Kohler toilets)

Amendment 1 Sep 20, 2017

Unit prices for four units are increased.

  • Unit 1 price increased from $1,650,000.00 to $1,725,000.00
  • Unit 2 price increased from $1,150,000.00 to $1,225,000.00
  • Unit 3 price increased from $1,150,000.00 to $1,275,000.00
  • Unit 4 price decreased from $1,300,000.00 to $1,295,000.00
What each amendment changed, line by lineSee it free →

Team

Sponsor
Rggs Properties, LLC
Principals
Robert Saffayeh, George Saffayeh, Hyun K. Shin, Jack Shin, Brian Shin, Therese McInerney
Tax estimate
The Mazursky Group, Inc.Prepared the first-year real estate tax projection
Construction lender
Ponce BankLender on the mortgage and building loan agreement recorded September 2016 in ACRIS; $4.8 million recorded
General contractor
Gino Iron WorksHeld the general construction permit on DOB job 320577354

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

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The Condo Book Project Are 359 7th Street's common charges high for the area? No, they're on the low side. 359 7th Street budgets $0.22 per square foot a month, against a $0.40 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?