360 Tompkins Avenue Condominium
360 Tompkins Avenue, Brooklyn, NY 11216
Overview
360 Tompkins Avenue is a 4-unit condo in Brooklyn.
- Offering plan: Accepted May 2022 · 277 pages
- Finishes: Engineered wood floors, quartz kitchen countertops, wood cabinets, GE Café and Café appliances and a washer and dryer in each apartment
- Prices: $1,204 a square foot on average, as first offered; $4.4 million in all
- Common charges: $303–$544 a month, the sponsor's first-year estimate
- Developers: AD Restoration and Builders Corp., Reliable Home Sales LLC and Viceroy holdings VII LLC
- Sponsor: 360 Tompkins Development LLC, represented by Eial Girtz, PC
- Neighborhood: Bedford-Stuyvesant, Brooklyn
- Subway: 10-minute walk to Kingston-Throop Avs (C); 12 minutes to Nostrand Av (A, C)
- Amendments: 3, the latest in May 2023
- Units
- 4 residential
- Neighborhood
- Bedford-Stuyvesant, Brooklyn
- Subway
- 10 min walk to Kingston-Throop Avs CNostrand Av A C, 12 min
- Developers
- AD Restoration and Builders Corp., Reliable Home Sales LLC, Viceroy holdings VII LLC
- Average $/sf
- $1,204Homes in Schedule A, as first offered
- Common charges
- $303–$544 a monthSponsor's first-year estimate in Schedule A, July 1, 2022 To June 30, 2023
- Offering price
- $4.4 million total
- SubmittedNovember 2022
- AcceptedMay 2022
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Mar 31, 2024.
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 360 Tompkins Avenue's common charges compare with similar buildings? →
Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 4 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The plan lists what a buyer pays at closing.
All 6 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 May 31, 2023
Amendment extends the plan 6 months, confirms all 4 units have closed, TCO obtained April 28 2023 with PCO expected in 30 days, and construction financing paid off.
- Plan extended for 6 months
- Declaration of Condominium recorded March 29, 2023
- Temporary Certificate of Occupancy obtained April 28, 2023; Permanent CO expected in approximately 30 days
- $5,000.00 held in escrow to secure Sponsor's obligation to obtain PCO
- First Unit Closing (Unit 4) occurred May 8, 2023; all remaining Units (1, 2, 3) have also closed
- Construction financing of $2,000,000.00 from REDY Ventures LLC paid off in full; all units released from collateral
- Budget for First Year of Condominium Ownership unchanged
- Sponsor covering all operating costs and delaying collection of common charges
Amendment 2 Apr 14, 2023
Escrow account for down payments moved from First Republic Bank to TD Bank due to banking crisis; all four units are now in contract.
- All four units in contract
- Down payment escrow account moved from First Republic Bank to TD Bank at 475 Port Washington Boulevard, Port Washington, NY 11050
- Contract deposits for Units 1, 2, 3, and 4 transferred to new escrow account on March 21, 2023
- Escrow agent is Eial Girtz PC with authorized signatories Eial Girtz and Lisa Kim
- New escrow account is IOLA account with FDIC insurance up to $250,000 per deposit
- No interest paid to purchasers on deposits; interest goes to New York State IOLA fund
- Sponsor bears all costs of escrow account maintenance
Amendment 1 Oct 26, 2022
Amendment extends the plan for 6 months, declares it effective based on one purchase agreement, revises unit square footages and prices, and updates roof terrace drainage responsibilities.
- Plan extended for 6 months
- Plan declared effective October 26, 2022 based on purchase of Unit 4
- Unit 1 cellar increased 334 to 339 sq. ft.; First Floor decreased 831 to 816 sq. ft.
- Unit 2 price increased from $950,000.00 to $999,000.00; square footage decreased 909 to 900 sq. ft.
- Unit 3 price increased from $950,000.00 to $999,000.00; square footage decreased 909 to 896 sq. ft.
- Unit 4 price increased from $1,250,000.00 to $1,295,000.00; study room converted to legal bedroom (now 3 bedrooms)
- Unit 2 responsible for front roof terrace drain; Unit 4 responsible for rear roof terrace drain
- All four units now in contract; no units remain unsold
- Schedule A prices increased for 3 homes (median +5.2%): 2 $950,000 → $999,000; 3 $950,000 → $999,000; 4 $1,250,000 → $1,295,000
Team
- Sponsor
- 360 Tompkins Development LLC
- Developers
- AD Restoration and Builders Corp., Reliable Home Sales LLC, Viceroy holdings VII LLC
- Counsel
- Eial Girtz, PC
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- REDY V e nture s$2 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
- R6A
- Commercial overlay
- C2-4
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 358 Tompkins Avenue Condominiumnext door · 4 units · 2023
- 437 Putnam Avenue Condominiumnext door · 4 units · 2019
- 385 Jefferson Avenue Condominium0.1 mi · 3 units · 2016
- 573 Gates Avenue Condominium0.1 mi · 8 units · 2020
- Diana Condominium0.2 mi · 40 units · 20 parking · 2022
- Halsey By The Park0.2 mi · 4 units · 2019
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