THE CONDO BOOK PROJECT

373 Prospect Place Condominium

373 Prospect Place, Brooklyn, NY 11238

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Overview

373 Prospect Place is a 6-unit condo in Brooklyn.

  • Offering plan: Accepted March 2022 · 341 pages · floor plans on page 32
  • Finishes: Hardwood floors, Frigidaire and GE appliances, washer/dryer hook-ups, Kohler bathroom fittings and split-system units for heating and cooling
  • Prices: $1,360 a square foot on average, as first offered; $11.7 million in all ($11.2 million when first offered)
  • Common charges: $352–$554 a month, the sponsor's first-year estimate
  • Developers: Stuyvesant Group and RNY Development; principals Royi Hazan
  • Sponsor: 373 Prospect Pl Condo LLC, represented by Jeffrey Zwick & Associates, P.C.
  • Neighborhood: Prospect Heights, Brooklyn
  • Subway: 8-minute walk to Park Pl (S); 10 minutes to Eastern Pkwy-Brooklyn Museum (2, 3)
  • Amendments: 3, the latest in April 2023
  1. SubmittedJune 2022
  2. AcceptedMarch 2022
  3. 3 amendments
  4. First sale
  5. Latest sale

Sales

6 of 6homes sold (100%)
Every sale: 6 homes, with price and dateSee it free →

From city records (ACRIS), through Jun 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 373 Prospect Place's common charges compare with similar buildings? →

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills for 6 homes.

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 →

Amendments

Amendment 3 Apr 20, 2023

Amendment corrects floor plans, adds storage license offering, updates escrow bank name, and discloses closing and occupancy status.

  • Unit 2R balcony removed from floor plans (not constructed)
  • Rear yard area corrected to 514 SF (from 527 SF)
  • Storage closets in cellar may be purchased via license agreement by unit owners
  • Escrow account bank changed from Signature Bank to Flagstar Bank
  • First closing occurred May 31, 2023
  • Temporary Certificate of Occupancy issued May 22, 2023
  • Declaration recorded May 15, 2023
  • Sponsor retains ownership of 4 units (Units 1F, 1R, 3F, 3R)
  • Schedule A prices increased for 4 homes (median +11.1%): 3F $1,990,000 → $2,650,000; 2R $1,525,000 → $1,695,000; 3R $1,575,000 → $1,750,000; 4R $1,999,000 → $2,150,000
  • Schedule A prices decreased for 2 homes (median -5.7%): 1F $1,750,000 → $1,650,000; 1R $2,400,000 → $1,795,000

Amendment 2 Jan 12, 2023

Plan declared effective as of April 28, 2022 with one executed purchase agreement, and offering plan terms extended for six months.

  • Plan declared effective April 28, 2022
  • One unit (Unit 3) with executed purchase agreement counted toward 20.00% effectiveness threshold
  • Offering plan terms extended for six (6) months
  • No material changes to first year operating budget

Amendment 1 Jun 17, 2022

Amendment updates unit floor areas, reduces Unit 3F bathrooms from 2 to 1 half bath, and sets offering prices for all six units.

  • Unit 1F accessory cellar decreased from 558 SF to 539 SF
  • Unit 1R accessory cellar increased from 877 SF to 975 SF
  • Unit 3F changed to 1 half bath instead of 2
  • Unit 2R storage decreased from 102 SF to 83 SF
  • Offering prices set: 1F $1,650,000.00, 1R $1,795,000.00, 3F $2,650,000.00, 2R $1,695,000.00, 3R $1,750,000.00, 4R $2,150,000.00
  • No units currently under contract
What each amendment changed, line by lineSee it free →

Team

Sponsor
373 Prospect Pl Condo LLC
Principals
Royi Hazan
Tax estimate
RE Tax ServicePrepared the first-year real estate tax projection
Construction lender
Bayport Funding$4.84 million recorded
General contractors
Sat Construction Services, W & L Group Construction, Morgan Services GroupHeld the general construction permit on DOB job 320975780

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

Zoning

Zoning districts
R6B, R6AThe lot is split between two districts, the largest share first
Commercial overlay
C2-4

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

Nearby

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The Condo Book Project Are 373 Prospect Place's common charges high for the area? No, they're on the low side. 373 Prospect Place budgets $0.33 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?