THE CONDO BOOK PROJECT

49 East 4th Street Condominium

49 East 4th Street, Brooklyn, NY 11218

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Overview

49 East 4th Street is a 6-unit condo in Brooklyn, with 4 parking units and 4 storage units.

  • Offering plan: Accepted March 2021 · 408 pages · floor plans on page 32
  • Finishes: 8'8" ceilings, hardwood floors, quartz kitchen countertops, KitchenAid appliances, washer/dryer hook-ups, Riobel bathroom fittings and split-system units for heating and cooling
  • Prices: $1,179 a square foot on average, as first offered; $8.91 million in all ($7.52 million when first offered)
  • Common charges: $378–$432 a month, the sponsor's first-year estimate
  • Developer: Bluefield Holdings LLC; principals Elizabeth McDonald, Jason Blauvelt and Rocco Basile
  • Sponsor: 49 East 4th Street LLC, represented by Rosen Law LLC
  • Neighborhood: Windsor Terrace, Brooklyn
  • Subway: 5-minute walk to Fort Hamilton Pkwy (F, G); 11 minutes to Church Av (F, G)
  • Amendments: 5, the latest in November 2022
  1. SubmittedAugust 2021
  2. AcceptedMarch 2021
  3. 5 amendments
  4. First sale
  5. Latest sale

Sales

5 of 6homes sold (83%)
Every sale: 5 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 49 East 4th Street'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 8 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 5 Nov 28, 2022

Fifth amendment updates unsold unit status, provides Final Certificate of Occupancy, revises budgets, and extends offering plan term.

  • Two unsold residential units remain: Units 2A and 3A
  • Final Certificate of Occupancy issued December 22, 2022
  • Working capital fund $9,119.50 as of October 18, 2022
  • Schedule A current July 1, 2022 through June 30, 2023
  • Schedule B current July 1, 2022 through June 30, 2023
  • Offering plan extended twelve (12) months
  • First unit closing occurred February 28, 2022

Amendment 4 May 11, 2022

Amendment updates taxes for 2022/2023, confirms first closing and unsold units, extends offering plan by six months.

  • First closing of Unit 1A occurred February 28, 2022
  • Two unsold residential units: Units 2A and 3A
  • Temporary Certificate of Occupancy issued February 15, 2022, expires May 16, 2022
  • Final Certificate of Occupancy anticipated before April 16, 2022
  • Declaration of Condominium recorded January 3, 2022
  • Schedule A revised for taxes July 1, 2022 through June 30, 2023
  • Schedule B revised for July 1, 2022 through June 30, 2023
  • Offering plan extended six months

Amendment 3 Oct 27, 2021

Architect's report updated with as-built conditions, storage unit square footage corrected, completion date revised, and special risks disclosed for lot line windows and non-compliant winder stairs.

  • Estimated completion date revised from April 2021 to Winter 2021
  • Storage unit square footage revised: ST-1 from 82.00 to 108.38 sq. ft., ST-2 from 74.00 to 72.46 sq. ft., ST-3 from 50.00 to 50.22 sq. ft., ST-4 from 74.00 to 70.92 sq. ft.
  • Units 2A and 3A have lot line windows in storage rooms; cost to seal approximately $2,000.00 if neighboring lot developed
  • Units 1A and 1B winder stairs not code compliant; winder stair treads less than 6" deep poses falling risk
  • Schedule A revised
  • New York State Transfer Tax and Mansion Tax no longer increased as of July 1, 2021
  • Offering plan extended for six months

Amendment 2 Oct 20, 2021

The condominium plan is declared effective with two units sold, first closing deadline extended to January 6, 2023 due to COVID-19 tolling, and offering plan extended six months.

  • Plan declared effective based on 2 units (33% of residential units) with purchase agreements
  • First closing deadline extended to January 6, 2023 (from July 1, 2021) due to COVID-19 Executive Order tolling
  • Tolling period is 554 days (April 16, 2020 through January 6, 2023)
  • Purchasers may rescind if first closing does not occur by January 6, 2023
  • Offering plan term extended for six months
  • Units 1B and 2B counted as sold (purchase agreements September 17, 2021 and September 2, 2021)

Amendment 1 Aug 27, 2021

Offering prices for two residential units increased.

  • Unit 2A price raised to $1,395,000
  • Unit 3A price raised to $1,395,000
What each amendment changed, line by lineSee it free →

Team

Sponsor
49 East 4th Street LLC
Principals
Elizabeth McDonald, Jason Blauvelt, Rocco Basile
Tax estimate
Rosen Law, LLCPrepared the first-year real estate tax projection
Construction lender
Midfirst Bank$3.4 million recorded
General contractor
Avo ConstructionHeld the general construction permit on DOB job 322067348
Property report
Paul Lombardi, R.A.Prepared the plan's description of the property and its condition · Named on p. 148
Title agency
Regal Title Agency, Inc.The sponsor's title company for buyers; you can choose another · Agent for First American Title Insurance Company · Named on p. 95
Buyer's lender
TD BankThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 18

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

Zoning

Zoning district
R5

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

Nearby

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The Condo Book Project Are 49 East 4th Street's common charges high for the area? No, they're on the low side. 49 East 4th Street budgets $0.33 per square foot a month, against a $0.36 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?