THE CONDO BOOK PROJECT

531 Vanderbilt Avenue Condominium

531 Vanderbilt Avenue, Brooklyn, NY 11238

Compare

Overview

531 Vanderbilt Avenue is an 18-unit condo in Brooklyn.

  • Offering plan: Accepted November 2014 · 284 pages · floor plans on page 23
  • Finishes: Quartz kitchen countertops, Fisher & Paykel, Bertazzoni and Bosch appliances and washer/dryer hook-ups
  • Prices: $1,166 a square foot on average, as first offered; $11.6 million in all ($10.2 million when first offered)
  • Common charges: $198–$682 a month, the sponsor's first-year estimate
  • Developer: Brookland Capital; principals Boaz Gilad
  • Sponsor: Vanderbilt Upreal LLC, represented by Marans, Weisz & Newman LLC
  • Subway: 3-minute walk to Clinton-Washington Avs (C); 8 minutes to Lafayette Av (C)
  • Amendments: 5, the latest in October 2015
  1. SubmittedNovember 2014
  2. AcceptedNovember 2014
  3. 5 amendments
  4. First sale
  5. Latest sale

Sales

18 of 18homes sold (100%)
Every sale: 18 homes, with price and dateSee it free →

From city records (ACRIS), through Aug 31, 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 531 Vanderbilt 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 5 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 5 Oct 14, 2015

Fifth Amendment extends the offering term by six months and discloses post-closing status including temporary certificate of occupancy and unsold units.

  • Offering term extended by six (6) months from filing date
  • First Unit Closing occurred September 10, 2015
  • Temporary Certificate of Occupancy issued August 28, 2015; permanent expected by November 26, 2015
  • $12,000.00 posted as security for permanent Certificate of Occupancy
  • Declaration recorded July 14, 2015
  • Reserve fund: $1,492.37; working capital fund: $5,466.38
  • Unsold units: 1B, 1C, 2C, 4B, 5C, 6C
  • First meeting of Unit Owners to be called within one (1) year after First Unit Closing

Amendment 4 Oct 2, 2015

Managing agent changed to Choice NY Property Management, budget revised with increased insurance premium and September 2015 operations start date.

  • Managing Agent changed to Choice NY Property Management, LLC at 220 5th Avenue, 15th Floor, New York, New York 10001
  • Budget for first year revised with increased projected insurance premium
  • Projected start date of operations now September 2015

Amendment 3 May 6, 2015

Plan declared effective after sponsor accepted purchase agreements for five units constituting twenty-seven percent of the building.

  • Plan declared effective
  • Sponsor accepted purchase agreements for 5 units (27% of units)
  • No outstanding rescission rights on counted purchase agreements

Amendment 2 Mar 16, 2015

Unit floor plans revised to match on-site conditions, building has no gas service, common charges adjusted, and sponsor-designated lender changed.

  • Unit floor plans revised for on-site conditions including fixture placement, doors, kitchen layout, hot water heater location, floor drain, shower heads, and terrace doors
  • Building has no gas service; all references to gas removed from Description of Property and Architect Report
  • First year condominium operations budget revised to reflect no gas service
  • Schedule A revised reflecting changes to common charges per revised budget
  • Sponsor-designated lender changed to Franklin First Financial, 538 Broadhollow Road, Melville, New York 11747, Contact: Dorothy Driscoll, 631.847.8700
  • Balconies at Units 2B, 3B, 4B, 5B have CMU with stucco finish; Unit 6B has glass railing with steel reinforcement
  • Condominium By-Laws Article XI, Section 5 revised: minimum lease term is one year, all leases must be in writing
  • Property remains classified as Tax Class 2; no change to tax estimates
  • Schedule A prices increased for 18 homes (median +14.3%): 1A $393,750 → $449,000; 1B $787,500 → $900,000; 1C $787,500 → $900,000; 2A $551,250 → $605,000; ...

Amendment 1 Nov 14, 2014

Unit prices increased across all 18 apartments in the building.

  • Unit 1B price raised to $900,000
  • Unit 1C price raised to $900,000
  • Unit 6C price raised to $1,100,000
  • All other units (1A, 2A-C, 3A-C, 4A-C, 5A-C, 6A-B) prices increased
  • Schedule A provided for first year of operations (January 1 – December 31, 2015)
What each amendment changed, line by lineSee it free →

Team

Sponsor
Vanderbilt Upreal LLC
Principals
Boaz Gilad
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Houtex$3.4 million recorded
General contractors
Dvir Mog 18, Valverde ConstructionHeld the general construction permit on DOB job 320590516
Title agency
Downtown Abstract Corp.The sponsor's title company for buyers; you can choose another · Agent for Fidelity Title Insurance Company · Named on p. 56
Buyer's lender
First Meridian MortgageThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 6

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

Free in ChatGPT or Claude

Ask Claude or ChatGPT about 531 Vanderbilt Avenue

The fastest way to know any condo or co-op

Get Connected →
The Condo Book Project Are 531 Vanderbilt Avenue's common charges high for the area? No, they're on the low side. 531 Vanderbilt Avenue budgets $0.56 per square foot a month, against a $0.66 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?
Free: all 18 units, every budget line, every saleSee it free