THE CONDO BOOK PROJECT

532 Clinton Avenue Condominium

532 Clinton Avenue, Brooklyn, NY 11238

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Overview

532 Clinton Avenue is a 14-unit condo in Brooklyn, with 11 parking units and 14 storage units.

  • Offering plan: Accepted December 2021 · 425 pages
  • Finishes: Engineered wood floors, quartz kitchen countertops, wood veneer cabinets, Bosch appliances, washer/dryer hook-ups, Newport Brass bathroom fittings and split-system units for heating and cooling
  • Prices: $1,420 a square foot on average, as first offered; $30 million in all ($28.5 million when first offered)
  • Common charges: $347–$894 a month, the sponsor's first-year estimate
  • Developer: Bluefield Holdings, LLC; principals Elizabeth McDonald, Jason Blauvelt and Rocco Basile
  • Sponsor: 532 Clinton LLC, represented by Rosen Law LLC
  • Subway: 2-minute walk to Clinton-Washington Avs (C); 8 minutes to Clinton-Washington Avs (G)
  • Amendments: 14, the latest in January 2024
  1. SubmittedJanuary 2022
  2. AcceptedDecember 2021
  3. 14 amendments
  4. First sale
  5. Latest sale

Sales

14 of 14homes sold (100%)
Every sale: 14 homes, with price and dateSee it free →

From city records (ACRIS), through Dec 31, 2025.

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 532 Clinton Avenue's common charges compare with similar buildings? →

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills for 2 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 9 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 14 Jan 29, 2024

This Fourteenth Amendment extends the offering plan's term by six months, updates the sales and closing status (one unit unsold), and revises Schedules A and B for November 1, 2023 through October 31, 2024.

  • Term of offering plan extended for six (6) months
  • One unsold residential unit remains: Unit 1A
  • First title closing (Unit 7A) occurred March 24, 2023
  • Final Certificate of Occupancy issued August 15, 2023
  • Declaration recorded July 12, 2023; units apportioned for real estate taxes on or about November 18, 2023
  • Schedule A and Schedule B revised for November 1, 2023 through October 31, 2024
  • Working capital fund is $67,162.04 as of January 4, 2024
  • Sponsor controls the Board of Managers; first meeting of Unit Owners not yet held

Amendment 13 Sep 11, 2023

This amendment raises the offering price of one residential unit, Unit 1A, to $1,200,000 and updates Schedule A to match, while the plan's term is not extended.

  • Offering price of Unit 1A raised to $1,200,000
  • Schedule A (Exhibit "1") amended to reflect the price increase
  • Term of the offering plan not extended by this amendment
  • Twelfth Amendment is pending

Amendment 11 Mar 28, 2023

This amendment raises the offering prices of units 3A and 3B and updates Schedule A to match, with no other material changes.

  • Offering price of unit 3A set at $2,300,000
  • Offering price of unit 3B set at $2,350,000
  • Prices changed for 2 of 14 residential units
  • Schedule A replaced with updated unit prices and estimated expenses for November 1, 2022 through October 31, 2023, dated 3/28/2023
  • Term of the offering plan not extended by this amendment

Amendment 10 Dec 5, 2022

This tenth amendment changes offering prices for four units, designates two parking spaces for EV charging, revises square footage for several yards, roof terraces and storage rooms, extends the offering plan's term by six months, and updates the building's construction status and as-built documents.

  • Offering prices changed for Units 1A ($1,000,000), 3A ($2,200,000), 3B ($2,250,000) and parking space P9 ($145,000)
  • Offering plan term extended for six (6) months by filing this amendment
  • Parking spaces P3 and P4 designated as Electric Vehicle Power Ready Parking Spaces; sponsor installs power and submeters, purchaser provides own EV charger and licensed electrician, and owners are billed for submetered usage
  • Yard areas revised: Unit 1B 632.00 sq. ft., Unit 2A 687.00 sq. ft., Unit 2B 687.00 sq. ft.; roof terrace areas revised: Unit 7A 679.00 sq. ft., Unit 7B 465.00 sq. ft.
  • Square footage revised for 11 of 14 Storage Rooms; storage rooms are cages except Storage Room #8, which has walls
  • Building approximately 90% complete; estimated date of completion March 2023
  • Revised Schedule A (square footage and pricing), revised floor plans and architect's as-built addendum added as exhibits

Amendment 9 Sep 21, 2022

The amendment reduces the condominium's parking units from eleven to nine, makes P9 a two-space tandem unit, moves the handicap parking designation to P8, and extends the offering plan term by six months.

  • Parking units reduced from eleven (11) to nine (9), P1 through P9
  • Parking Unit P9 is now two (2) tandem parking spaces, approximately 306.00 sq. ft. total
  • Parking Unit P8 is now the handicap parking space, not P7; P7 is approximately 153.00 sq. ft. and P8 approximately 198.00 sq. ft.
  • Offering plan term extended for six (6) months by filing of this amendment
  • Addendum to Description of Property and Specifications dated September 9, 2022, revised cellar floor plan, and architect's certification added as Exhibits 1 to 3
  • Revised Schedule A reflecting the parking changes added as Exhibit 4

Amendment 8 2022

The eighth amendment raises the offering price of one residential unit, 3A, to $2,150,000 and replaces Schedule A with an updated version, without extending the plan's term or making other material changes.

  • Offering price of unit 3A raised to $2,150,000
  • Schedule A amended to reflect the price increase (Exhibit "1")
  • Term of the offering plan not extended
  • No other material changes to the terms and conditions

Amendment 7 Mar 14, 2022

This seventh amendment changes the offering prices of two of the fourteen residential units, Unit 1A (now $925,000) and Unit 3A (now $2,100,000), and updates Schedule A to match.

  • Offering price of Unit 1A set at $925,000
  • Offering price of Unit 3A set at $2,100,000
  • Schedule A (Unit Prices) amended to reflect the price increase, annexed as Exhibit "1"
  • Term of the offering plan not extended by this amendment
  • Seventh amendment; no prior amendments pending

Amendment 6 Feb 28, 2022

This Sixth Amendment declares the plan effective after three units (21% of residential units) were sold, and extends the offering plan for six months.

  • Plan declared effective on 3 units (21% of residential units) under bona fide purchaser agreements
  • Purchaser notice served February 21, 2022
  • Unit 6B ($2,175,000), Unit 7A ($2,050,000) and Unit 7B ($2,475,000) counted toward effectiveness
  • Offering plan extended for six (6) months
  • No prior amendments pending before the New York State Department of Law
  • No other material changes to the terms of the Offering, per Sponsor

Amendment 5 2022

This amendment raises the offering prices of six of the fourteen residential units and makes no other material changes to the plan.

  • Offering prices of 6 of 14 residential units changed: 3A $2,050,000; 4A $2,100,000; 4B $2,200,000; 5A $2,150,000; 5B $2,250,000; 6A $2,200,000
  • Schedule A amended to reflect the price increase (Exhibit 1)
  • Term of the offering plan not extended
  • No other material changes

Amendment 4 Feb 18, 2022

This Fourth Amendment raises the offering prices of six of the fourteen residential units, amends Schedule A to reflect the increases, and states that the offering plan's term is not extended.

  • Offering prices raised for 6 of 14 residential units; Schedule A amended
  • Unit 3A now $2,045,000
  • Unit 3B now $2,150,000
  • Unit 4A now $2,075,000
  • Unit 4B now $2,175,000
  • Unit 5B now $2,200,000
  • Unit 6A now $2,125,000
  • Term of offering plan not extended by this amendment

Amendment 3 2022

The Third Amendment raises the offering prices of unit 7A and ten of the eleven parking spaces, and updates Schedule A to match.

  • Offering price of unit 7A set at $1,950,000
  • Offering prices of parking spaces P1 through P6 and P8 through P11 set at $95,000 each
  • Schedule A amended to reflect the price increase (Exhibit 1)
  • Term of the offering plan not extended by this amendment
  • No prior amendments pending; this is the Third Amendment

Amendment 2 Feb 8, 2022

This second amendment raises the offering price of one unit, 7B, to $2,400,000 and updates Schedule A to match, with no other material changes.

  • Offering price of unit 7B changed to $2,400,000
  • Schedule A updated to reflect the price increase (Exhibit "1")
  • Term of the offering plan not extended
  • No other material changes to the offering

Amendment 1 2022

This First Amendment changes the offering prices of three of the fourteen residential units (2A, 7A and 7B) and amends Schedule A to match, without extending the plan's term.

  • Offering price of Unit 2A set at $2,175,000
  • Offering price of Unit 7A set at $1,875,000
  • Offering price of Unit 7B set at $2,350,000
  • Schedule A amended to reflect the price increase (Exhibit "1")
  • Term of the offering plan not extended by this amendment
  • No prior amendments pending; this is the First Amendment
What each amendment changed, line by lineSee it free →

Team

Sponsor
532 Clinton LLC
Principals
Elizabeth McDonald, Jason Blauvelt, Rocco Basile
Construction lender
Midfirst Bank
General contractor
Avo ConstructionHeld the general construction permit on DOB job 321514535
Property report
Shahriar Afshardi, Ph.D., P.E.Prepared the plan's description of the property and its condition · Named on p. 155

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

Zoning

Zoning districts
R6A, R9The lot is split between two districts, the largest share first
Commercial overlay
C2-5

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

Nearby

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