THE CONDO BOOK PROJECT

5415 9th Avenue Condominium

5415 9th Avenue, Brooklyn, NY 11220

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Overview

5415 9th Avenue is a 7-unit condo in Brooklyn.

  • Offering plan: Accepted September 2017 · 287 pages · floor plans on page 13
  • Finishes: 10-foot ceilings, wood floors, granite kitchen countertops, wood veneer cabinets and Frigidaire appliances
  • Prices: $880 a square foot on average, as first offered; $2.46 million in all
  • Common charges: $274–$306 a month, the sponsor's first-year estimate
  • Sponsor: 5415 9th Ave, LLC, represented by Jeffrey Zwick & Associates, P.C.
  • Neighborhood: Borough Park, Brooklyn
  • Subway: 10-minute walk to Fort Hamilton Pkwy (N); 11 minutes to 8 Av (N)
  • Amendments: 4, the latest in May 2020
  1. SubmittedAugust 2018
  2. AcceptedSeptember 2017
  3. 4 amendments
  4. First sale

Sales

1 of 7homes sold (14%)
Every sale: 1 home, with price and dateSee it free →

From city records (ACRIS), through Nov 30, 2021.

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 5415 9th 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 6 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 4 Apr 6, 2020

Plan declared effective after receiving purchase agreements for two units representing 25% of units being sold.

  • Plan declared effective by written notice dated April 6, 2020
  • Two units (2F and 2R) with executed purchase agreements as of effective date
  • Units represent 25% of units being sold pursuant to plan terms

Amendment 3 Jan 6, 2020

Projected condominium commencement moved to June 1, 2020 with updated budget; transfer tax rates revised effective July 1, 2019.

  • Projected commencement date updated to June 1, 2020
  • Certified budget updated reflecting new commencement date
  • NYC transfer taxes: 1.425% for residential units over $500,000, 1.4% under $500,000
  • NY State Documentary Stamp Taxes: $4.00 per thousand plus 0.25% for residential units $3,000,000 or more
  • Commercial transfer tax: 2.625% for NYC; $4.00 per thousand plus 0.25% for units $2,000,000 or more
  • Mansion Tax: 1% for $1,000,000–$2,000,000; 1.25% for $2,000,001–$3,000,000; 1.75% for $3,000,001–$5,000,000
  • No units under contract in building

Amendment 1 Jul 26, 2018

Amendment updates condominium commencement date to July 1, 2019 and provides revised budget, tax letter, and Schedule A.

  • Projected commencement of condominium operations updated to July 1, 2019
  • Updated certified budget reflecting new commencement date
  • Updated tax letter with assessed valuations for new commencement date
  • Updated Schedule A reflecting changes
  • No units under contract; sponsor expects TCO within six months
  • Real Estate Finance Bureau address updated to 28 Liberty Street, New York, NY 10005
  • Tax Cuts and Jobs Act of 2017 warning: tax information in plan may be inaccurate; buyers advised to consult tax expert
What each amendment changed, line by lineSee it free →

Team

Sponsor
5415 9th Ave, LLC
Tax estimate
Ben Rottenstein & Associates, Inc.Prepared the first-year real estate tax projection

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

Zoning

Zoning district
R6

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

Nearby

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The Condo Book Project Are 5415 9th Avenue's common charges high for the area? Yes, they're on the high side. 5415 9th Avenue budgets $0.51 per square foot a month, against a $0.41 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?