520 Crown Owners Corp.
520 Crown Street, Brooklyn, NY 11213
Overview
520 Crown Owners Corp. is a 35-unit co-op conversion in Brooklyn. Its offering plan was accepted in July 2024. It's a 7-minute walk to Kingston Av (3) and 12 minutes to Crown Hts-Utica Av (3, 4). The plan names Kenneth Rosenblum as the sponsor's principals. The offering totals $26.2 million ($27 million when first offered).
- Units
- 35 residential
- Subway
- 7 min walk to Kingston Av 3Crown Hts-Utica Av 3 4, 12 min
- Principals
- Kenneth Rosenblum
- Offering price
- $26.2 million total $27 million when first offered
The sponsor of record is 520 Crown LLC, represented by Schwartz Sladkus Reich Greenberg Atlas LLP. The offering plan runs 297 pages. The nearest other plan on file is 510 Crown Street Condominium (Cps-1), next door.
The Attorney General also has another filing for this building: C220002 (co-op plan, filed 2022, withdrawn).
Plan C230001 · Conversion · accepted Jul 1, 2024 · AG record ↗
Budget
From our research: How Close Are Offering Plan Tax Estimates to the Real Bill? · What New NYC Condos Spend on Staff, by Building Size · The Sponsor's Condo-Creation Fee in NYC
Closing Costs
- Counsel's extra charges
- $750 in Manhattan; $1,000 in other boroughs: closing outside counsel's office p. 9
- $1,500: Sponsor financing loan documents p. 9
- $1,000: assignment of Subscription Agreement p. 83
- $750: purchaser uses a third-party lender (document review) p. 83
- Transfer taxes
- Paid by the purchaserNew York City and State transfer taxes, by law the seller's, shift to the buyer in a sponsor sale; offering plan, p. 5
- Working capital
- two (2) month’s Maintenance ChargesContribution to the condominium's working capital fund; offering plan, p. 9
What the offering plan says a purchaser pays at closing on top of the price and their own lawyer, as first filed; amendments can change these. Title insurance, mortgage recording tax, lender fees and the mansion tax aren't listed.
The Building
Team
- Sponsor
- 520 Crown LLC
- Principals
- Kenneth Rosenblum
From our research: Should You Use the Sponsor's Preferred Lender for a New Condo? · The Top NYC Condo Developers, and What Each One Builds · Who Manages New NYC Condos, and What the Managing Agent Costs
Nearby
- Crown 601 Condominium0.2 mi · 27 units · 2017
- Maple Sweet Condominium0.3 mi · 10 units · 2020
- 744 Lefferts Condominiums0.3 mi · 7 units · 2020
- 514 Maple Street Condominium0.3 mi · 10 units · 2022
- Maple Crown Condominium0.3 mi · 15 units · 8 parking · 2025
- Albany Avenue Estates 10.4 mi · 6 units · 2021
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