516 Classon Avenue Condominium
516 Classon Avenue, Brooklyn, NY 11238
Overview
516 Classon Avenue is a 16-unit condo in Brooklyn.
- Offering plan: Accepted December 2015 · 275 pages · floor plans on page 20
- Finishes: 9'2" ceilings, wood floors, stone kitchen countertops, Country wide Kitchens cabinets, washer/dryer hook-ups and split-system units for heating and cooling
- Prices: $642 a square foot on average, as first offered; $14.4 million in all ($9.09 million when first offered)
- Common charges: $253–$635 a month, the sponsor's first-year estimate
- Sponsor: Classon In Clinton LLC, represented by Jeffrey Zwick & Associates, P.C.; principals Nadav Hamo
- Subway: 4-minute walk to Franklin Av (C, S); 7 minutes to Nostrand Av (A, C)
- Amendments: 4, the latest in May 2017
- Units
- 16 residential
- Subway
- 4 min walk to Franklin Av C SNostrand Av A C, 7 min
- Principals
- Nadav Hamo
- Average $/sf
- $642Homes in Schedule A, as first offered
- Common charges
- $253–$635 a monthSponsor's first-year estimate in Schedule A, 3/1/2016
- Offering price
- $14.4 million total $9.09 million when first offered
- Floor plans
- Page 20 of the plan
- SubmittedFebruary 2016
- AcceptedDecember 2015
- 4 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Feb 28, 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.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The plan lists what a buyer pays at closing.
All 6 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 4 May 3, 2017
Fourth Amendment updates the unsold units list, board members, and sponsor financial disclosures with no budget changes.
- Sponsor owns 8 units; 1 unsold unit rented for $2,550.00/month
- Aggregate monthly real estate taxes for sponsor units: $4,328.21
- Aggregate monthly common charges for sponsor units: $2,534.11
- Board members: Nadav Hamo, Shai Kolberg, Robert Michaeli (all at 101 Broadway Suite 501 Brooklyn, NY 11249)
- Unsold units: 1A, 2C, 3A, 3B, 3C, 4A, 4B, 4C
- Budget for first year starting March 1, 2017 is $73,775 with no changes from original plan
Amendment 3 Oct 13, 2016
Amendment documents the first unit closing, certificates of occupancy, condominium recording, working capital and reserve fund deposits, unsold units, board composition, and sponsor's financial disclosures.
- First unit closed on August 10, 2016
- Temporary certificate of occupancy issued June 30, 2016; final certificate issued September 12, 2016
- Declaration of Condominium recorded July 18, 2016
- Working capital fund of $3,370.90 deposited; reserve fund allocation of $337.09
- Sponsor retains ownership of 12 unsold units; one unit under contract
- Sponsor monthly real estate taxes approximately $7,586.00; monthly common charges $4,424.11
- Board members: Nadav Hamo, Shai Kolberg, Robert Michaeli
Amendment 2 Apr 6, 2016
Floor plan changes to multiple units including relocated closets, revised kitchen/bathroom layouts, and increased balcony sizes on upper floors.
- Unit 1B: Master bedroom closet relocated, hall closets removed, bathroom door relocated, kitchenette layout revised, bathroom replaced with walk-in closet
- Units 2A, 3A, 4A (A Line): Kitchenette and bathroom layout revised, master bedroom closet revised
- Units 2B, 3B, 4B (B Line): Kitchen layout revised and swapped with dining area
- Units 2C, 3C, 4C (C Line): Kitchen layout revised
- Units 5B and 6B: Balcony increased from 35 SF to 38 SF and from 104 SF to 107 SF; kitchenette layout revised
- Unit 7A: Kitchen/dining area revised
- Cellar: Mechanical room changed to storage for unit 5B; open space near elevator designated as future storage unit
- Updated Schedule A annexed; balcony square footage changes on 5th and 6th floors only
Amendment 1 Feb 19, 2016
Offering prices for multiple units are amended.
Team
- Sponsor
- Classon In Clinton LLC
- Principals
- Nadav Hamo
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Builders Bank$3.52 million recorded
- General contractor
- W & L Group ConstructionHeld the general construction permit on DOB job 320377203
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R7A
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 87 Irving Place Condominiumnext door · 24 units · 2024
- 531 Classon Avenue Condominiumnext door · 8 units · 2023
- 65 Irving Place Condominiumnext door · 6 units · 2019
- 41 Putnam Avenue Condominiumnext door · 3 units · 2025
- 103 Putnam Avenue Condominiumnext door · 7 units · 2025
- 22 Jefferson Avenue Condominium0.1 mi · 2 units · 2022
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