526 Union Avenue Condominium (The North)
526 Union Avenue, Brooklyn, NY 11211
Overview
The North is a 44-unit condo in Brooklyn, with 23 parking units and 8 storage units.
- Offering plan: Accepted April 2022 · 409 pages · floor plans on page 59
- Finishes: Quartz kitchen countertops, Cesar cabinets, Bosch appliances, a washer and dryer in each apartment and a VRF heat pump system for heating and cooling
- Prices: $1,505 a square foot on average, as first offered; $52.2 million in all
- Common charges: $331–$1,111 a month, the sponsor's first-year estimate
- Developer: Metropolitan Homes Inc.; principals Afshin Dilmanian, Farzad Dilmanian and Joseph Davoudzadeh
- Sponsor: Northside Capital Corp, represented by Marans Newman Tsolis & Nazinitsky LLC
- Neighborhood: Williamsburg, Brooklyn
- Subway: 4-minute walk to Metropolitan Av/Lorimer St (G, L); 7 minutes to Bedford Av (L)
- Amendments: 5, the latest in October 2024
- Units
- 44 residential · 23 parking · 8 storage
- Neighborhood
- Williamsburg, Brooklyn
- Subway
- 4 min walk to Metropolitan Av/Lorimer St G LBedford Av L, 7 min
- Developer
- Metropolitan Homes Inc.
- Principals
- Afshin Dilmanian, Farzad Dilmanian, Joseph Davoudzadeh
- Average $/sf
- $1,505Homes in Schedule A, as first offered
- Common charges
- $331–$1,111 a monthSponsor's first-year estimate in Schedule A, For First Full Year Of Operation July 1, 2022- June 30, 2023
- Offering price
- $52.2 million total
- Floor plans
- Page 59 of the plan
- SubmittedNovember 2022
- AcceptedApril 2022
- 5 amendments
- First sale
- Latest sale
Units & Prices
Sales
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)
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Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 44 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 3 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 5 Oct 10, 2024
Price of Unit 206 set at $1,655,000.00.
Amendment 3 Apr 6, 2023
Third amendment updates unit prices for 13 unsold units, confirms first closing occurred March 10, 2023, final Certificate of Occupancy issued February 15, 2023, and revises Schedule A with property tax estimates.
- Prices updated for 13 units ranging from $600,000 to $1,555,000
- First Unit Closing took place remotely on March 10, 2023
- Final Certificate of Occupancy issued February 15, 2023
- Working Capital Fund approximately $6,450.15; Reserve Fund approximately $6,450.15
- Declaration recorded January 31, 2023
- Real estate tax assessments made as of March 17, 2023
- Sponsor retains control of Board; first Unit Owner meeting to be held within one year of First Closing
- 29 units currently held by sponsor as unsold
- Schedule A prices increased for 22 homes (median +4.3%): 301 $555,000 → $615,000; 303 $1,385,000 → $1,475,000; 305 $850,000 → $875,000; 306 $860,000 → $925,000; ...
- Schedule A prices decreased for 1 home (median -0.3%): 503 $1,530,000 → $1,525,000
Amendment 2 Dec 23, 2022
Plan declared effective with eight units sold, and offering term extended by six months.
- Plan declared effective (8 units sold, approximately 18% of units offered)
- Offering term extended by six (6) months from date of amendment
Team
- Sponsor
- Northside Capital Corp
- Developer
- Metropolitan Homes Inc.
- Principals
- Afshin Dilmanian, Farzad Dilmanian, Joseph Davoudzadeh
- Tax estimate
- The Mazursky Group, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Popular Bank$22.5 million recorded
- General contractors
- Broadway Construction Group, Broadway Construction GRHeld the general construction permit on DOB job 321383891
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- M1-2/R6A
- Special district
- Special Mixed Use District (MX-8) (MX-8)
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 256 North 9th Street Condominiumnext door · 10 units · 2021
- 29 Havemeyer Condominiumnext door · 5 units · 2023
- 30 Skillman Avenue Condominiumnext door · 7 units · 2023
- 33 Frost Street Condominium0.1 mi · 10 units · 2019
- 476 Union Avenue0.1 mi · 9 units · 2015
- 35 Havemeyer Street Condominium0.1 mi · 8 units · 2011
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