THE CONDO BOOK PROJECT

510 Driggs Avenue Condominium

510 Driggs Avenue, Brooklyn, NY 11211

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Overview

510 Driggs Avenue is a 44-unit condo in Brooklyn, with 1 parking unit, 21 storage units and 2 commercial units.

  • Offering plan: Accepted June 2021 · 396 pages · floor plans on page 53
  • Finishes: Wood floors, quartzite kitchen countertops, custom wood cabinets, Miele appliances, a washer and dryer in each apartment, Kohler bathroom fittings and a VRF heat pump system for heating and cooling
  • Prices: $126.8 million in all
  • Developer: Northlink Capital; principals Robert Rosenthal
  • Sponsor: Driggs Partners LLC, represented by Marans Newman Tsolis & Nazinitsky LLC
  • Neighborhood: Williamsburg, Brooklyn
  • Subway: 2-minute walk to Bedford Av (L); 8 minutes to Metropolitan Av/Lorimer St (G, L)
  • Amendments: 7, the latest in February 2023
  1. SubmittedJuly 2021
  2. AcceptedJune 2021
  3. 7 amendments
  4. First sale
  5. Latest sale

Sales

44 of 44homes sold (100%)
Every sale: 61 homes, with price and dateSee it free →

From city records (ACRIS), through Sep 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 510 Driggs Avenue'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 4 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 7 Feb 28, 2023

This amendment reports that the building still has only a temporary Certificate of Occupancy, switches electricity to sub-metering, revises the architect report, extends the offering by six months, and lists the units the Sponsor still holds unsold.

  • Temporary Certificate of Occupancy expires April 10, 2025; Sponsor expects but does not guarantee a permanent Certificate of Occupancy by the end of next year
  • Eight Hundred Thousand Dollars ($800,000.00) posted as security for obtaining the permanent Certificate of Occupancy
  • Units 2B, 2C, 2G, 2H, 3D, PHB, PHC remain unsold and held by Sponsor
  • Each Unit will be sub-metered instead of individually metered for electricity
  • Plan extended by six (6) months from the date of acceptance of this Amendment
  • Non-invasive vines no longer featured in landscaping and enclosures
  • Appliance Schedule changed (see Exhibit D)
  • Sponsor retains control of the Board of Managers; first meeting of Unit Owners has not yet occurred

Amendment 5 Mar 4, 2022

This amendment sets new advertised purchase prices for four units (2G, 3D, PHB and PHC) and leaves the rest of the plan unchanged.

  • Advertised purchase price of Unit 2G set at $ 2,750,000.00
  • Advertised purchase price of Unit 3D set at $ 3,100,000.00
  • Advertised purchase price of Unit PHB set at $ 2,850,000.00
  • Advertised purchase price of Unit PHC set at $ 3,750,000.00
What each amendment changed, line by lineSee it free →

Team

Sponsor
Driggs Partners LLC
Developer
Northlink CapitalReported by commercialobserver.com
Principals
Robert Rosenthal
Tax estimate
Tuchman, Korngold, Weiss, Liebman & Lindemann, LLPPrepared the first-year real estate tax projection
Construction lender
Bank Leumi$46.6 million recorded
General contractor
Ray BuildersHeld the general construction permit on DOB job 320912857
Structural engineer
McNamara SalviaNamed on p. 244
MEP engineer
Ventrop ECG, PLLCMechanical, electrical and plumbing · Named on p. 244
Interior designer
Woods BagotReported by nyrej.com

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

Zoning

Zoning districts
M1-2/R6A, R6BThe lot is split between two districts, the largest share first
Special district
Special Mixed Use District (MX-8) (MX-8)

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

Nearby

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