486 1st Street Condominium
486 1st Street, Brooklyn, NY 11215
Overview
486 1st Street is a 3-unit condo in Brooklyn.
- Offering plan: Accepted October 2020 · 200 pages · floor plans on page 160
- Finishes: Wood floors, quartz kitchen countertops, Sub-Zero, Samsung and Miele appliances, a washer and dryer in each apartment and split-system units for heating and cooling
- Prices: $1,773 a square foot on average, as first offered; $6.25 million in all
- Common charges: $364–$789 a month, the sponsor's first-year estimate
- Sponsor: 486 First Holdings, LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.; principals Bleecker Wheeler
- Subway: 9-minute walk to 7 Av (F, G); 10 minutes to Grand Army Plaza (2, 3)
- Amendments: 2, the latest in March 2022
- Units
- 3 residential
- Subway
- 9 min walk to 7 Av F GGrand Army Plaza 2 3, 10 min
- Principals
- Bleecker Wheeler
- Average $/sf
- $1,773Homes in Schedule A, as first offered
- Common charges
- $364–$789 a monthSponsor's first-year estimate in Schedule A, March 1, 2021 - February 28, 2022
- Offering price
- $6.25 million total
- Floor plans
- Page 160 of the plan
- SubmittedJuly 2021
- AcceptedOctober 2020
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through May 31, 2026.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
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Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 3 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 10 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 Mar 22, 2022
Amendment reports first closing completed, building certificate issued, condominium declaration recorded, and extends offering plan for six months.
- First closing of Unit 2 occurred on March 1, 2022
- Final Certificate of Occupancy issued December 7, 2021
- Condominium Declaration recorded December 21, 2021
- Sponsor retains Units 1 and 3 unsold; Unit 1 in contract as of March 22, 2022
- Working capital fund of $3,034 held by Sponsor at TD Bank
- New Board of Managers election by earlier of 30 days after 75% conveyed or March 1, 2025
- Offering plan extended for additional six months
Amendment 1 2021
Amendment updates building occupancy status, architectural details, schedules, adds risk disclosures about temporary certificates and winder stairs, and clarifies transfer tax responsibilities.
- Unit 2 in contract as of November 9, 2020, with outside closing date of July 31, 2021
- First year of condominium operation now September 1, 2021 through August 31, 2022
- Square footages in floor plans corrected to reflect filed DOB drawings using gross calculation method
- Cellar storage areas allocated to each unit; wine cellar, porch area, and under stair storage added to Unit 1
- Filing for new Certificate of Occupancy via Alt-1 application #322085453 instead of Letter of No Objection
- New Special Risk #34 added regarding temporary vs final certificates of occupancy
- New Special Risk #35 added regarding Unit 1's original winder stairs not compliant with 2014 NYC Building Code
- Purchaser now responsible for New York State Transfer Tax ($4.00 per $1,000.00) and New York City Real Property Transfer Tax (1.425% of purchase price)
Team
- Sponsor
- 486 First Holdings, LLC
- Principals
- Bleecker Wheeler
- Tax estimate
- Mazursky Group, Inc.Prepared the first-year real estate tax projection
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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- 140 Eighth Ave Cooperative Corp **Cps 9 **0.1 mi · 1979
- 470 Second Street Condominium0.2 mi · 2 units · 2023
- 125 Eighth Avenue Condominium0.2 mi · 1988
- 539 4th Street Condominium0.2 mi · 8 units · 2018
- Tracy Mansion Condominium0.2 mi · 7 units · 2016
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