THE CONDO BOOK PROJECT

Dewitt Condominium

483 Washington Avenue, Brooklyn, NY 11238

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Overview

Dewitt is a condo in Brooklyn, with 7 parking units and 16 commercial units.

  • Offering plan: Accepted May 2007 · 376 pages · floor plans on pages 237–239
  • Finishes: Frigidaire appliances and through-wall PTAC units for heating and cooling
  • Prices: $562 a square foot on average, as first offered; $10.1 million in all
  • Developer: Urban Builders Collaborative, LLC; principals Deborah Howard and Nicholas A. Lettire
  • Sponsor: 483 Washington Avenue, LLC, represented by Hirschen Singer & Epstein LLP
  • Subway: 1-minute walk to Clinton-Washington Avs (C); 6 minutes to Clinton-Washington Avs (G)
  • Amendments: 8, the latest in May 2011
  1. SubmittedJuly 2007
  2. AcceptedMay 2007
  3. 8 amendments
  4. First sale
  5. Latest sale

Sales

16 of 16homes sold (100%)
Every sale: 16 homes, with price and dateSee it free →

From city records (ACRIS), through Mar 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 Dewitt'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 8 2011

Eighth amendment updates sponsor ownership, financial disclosures, board composition, managing agent status, and adopts 2011 budget with certified 2009 financial statements.

  • Sponsor owns 1 unsold residential unit (7A) and 1 parking unit (P4), representing 8.15% of common interests as of May 1, 2011
  • Monthly common charges on unsold units approximately $700; monthly real estate taxes $59
  • 2011 budget adopted with total revenue and expenses of $107,900.00
  • Board of Managers consists of Sara Upton (President), Daisy Okas (Vice-President), Kuza Woodward (Treasurer), Angela Robb (Secretary), Deborah Howard (Sponsor designee)
  • Management agreement with Pratt Area Community Council, Inc. renewed in January 2011 for two years
  • Certified Financial Statement for year ending December 31, 2009 attached; 2010 statement not yet provided to unit owners
  • Plan extended for additional one year term from filing date by Department of Law

Amendment 7 Apr 6, 2010

Amendment grants Section 421-a tax exemption, updates sponsor's unsold units, financial position, and budget for 2010.

  • Section 421-a real estate tax exemption benefits granted and applied
  • Sponsor owns 2 unsold residential units (6B, 7A) and 2 unsold parking units (P4, P6) as of February 1, 2010
  • Monthly common charges on sponsor's unsold units approximately $1,409
  • Monthly real estate taxes on sponsor's unsold units $151
  • Sponsor receives $5,500 monthly in rental payments from tenants
  • 2010 budget adopted with total revenue $106,245.61 and expenses $106,245.61
  • Managing agent Pratt Area Community Council renewed for one year as of July 2009
  • Plan extended for additional one year term

Amendment 6 November 2008

Amendment updates post-closing matters including Certificate of Occupancy issuance, unsold unit status, and financial disclosures as of November 1, 2008.

  • Final Certificate of Occupancy issued August 11, 2008; $2,500 escrow security to be returned to Sponsor
  • Sponsor owns 3 unsold residential units (6A, 6B, 7A) and 3 unsold parking units (P3, P4, P6) as of November 1, 2008
  • Unit 6A leased to tenants paying $3,018 per month in rent
  • Monthly common charges on unsold units approximately $1,963; monthly real estate taxes $1,739.50 (to be ~$150 after 421-a abatement)
  • First annual meeting of Unit Owners held June 2, 2008; Board of Managers elected with 5 members
  • Real estate taxes apportioned by tax lot; Section 421-a tax benefits application filed and being processed
  • Plan extended for one additional year from amendment filing date
What each amendment changed, line by lineSee it free →

Team

Sponsor
483 Washington Avenue, LLC
Developer
Urban Builders Collaborative, LLC
Principals
Deborah Howard, Nicholas A. Lettire
Tax estimate
Hirschen Singer & Epstein LLPPrepared the first-year real estate tax projection
Construction lender
North Fork Bank$5.35 million recorded
General contractor
Urban Builders Const.LLCHeld the general construction permit on DOB job 302015673

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Zoning

Zoning district
R6B

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

Nearby

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