Cascade E Condominium
569 Marcy Avenue, Brooklyn, NY 11206
Overview
Cascade E is a 40-unit condo in Brooklyn, with 2 storage units and 2 commercial units.
- Offering plan: Accepted February 2020 · 454 pages · floor plans on pages 196–203
- Finishes: 8'6" ceilings, wood floors, stone kitchen countertops, melamine cabinets and washer/dryer hook-ups
- Prices: $655 a square foot on average, as first offered; $40.8 million in all ($35.7 million when first offered)
- Common charges: $335–$513 a month, the sponsor's first-year estimate
- Sponsor: Cascade 553 LLC, represented by Law Firm Of Jay Lichtman P.C.; principals Abraham Brach, Andor Deutsch and Max Lebowitz
- Subway: 1-minute walk to Myrtle-Willoughby Avs (G); 6 minutes to Flushing Av (G)
- Amendments: 5, the latest in May 2022
- Units
- 40 residential · 2 storage · 2 commercial
- Subway
- 1 min walk to Myrtle-Willoughby Avs GFlushing Av G, 6 min
- Principals
- Abraham Brach, Andor Deutsch, Max Lebowitz
- Average $/sf
- $655Homes in Schedule A, as first offered
- Common charges
- $335–$513 a monthSponsor's first-year estimate in Schedule A, July 1, 2020 - June 30, 2021
- Offering price
- $40.8 million total $35.7 million when first offered
- Floor plans
- Pages 196–203 of the plan
- SubmittedFebruary 2020
- AcceptedFebruary 2020
- 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)
Ask Claude or ChatGPT: How do Cascade E'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 plan lists what a buyer pays at closing.
All 6 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 Jun 10, 2020
Amendment adds FinCEN reporting requirement for certain cash purchases, updates floor plans with minor layout changes and added balconies, and revises unit information and rooftop allocation details.
- FinCEN Currency Transaction Report required for cash purchases of $300,000+ by business entities without bank financing (May 10 - November 5, 2020)
- Building construction approximately 90% complete with anticipated completion in November 2020
- Second floor terraces rearranged; balconies added to Units 4A and 4E
- Two half bathrooms added to Unit 2 (DOB approval September 3, 2020)
- Rooftop designated as common recreation space with 14-person occupancy limit per building (28 persons combined)
- Units 2A and 2E have roof terraces with access easement; access via door from unit
- Building D and F residents access Building E roof elevator via main entry controlled by combination lockset
- Schedule A prices increased for 24 homes (median +0.4%): 2C $889,200 → $889,850; 2D $778,700 → $782,600; 2E $967,850 → $971,750; 3C $889,200 → $889,850; ...
- Schedule A prices decreased for 8 homes (median -0.1%): 2A $971,750 → $970,450; 3A $971,750 → $970,450; 4A $971,750 → $970,450; 5A $971,750 → $970,450; ...
Amendment 2 Apr 22, 2020
Amendment adds FinCEN reporting requirements for certain cash purchases, declares the plan effective with 6 units sold, and extends the plan term by 6 months.
- FinCEN Currency Transaction Report requirement for purchases of $300,000+ by business entities using cash or similar payment methods in NYC residential properties
- Plan declared effective as of April 22, 2020 with 6 units sold (15% of residential units)
- First unit closing cannot occur until this amendment is accepted for filing
- Plan term extended 6 months from amendment date
Team
- Sponsor
- Cascade 553 LLC
- Principals
- Abraham Brach, Andor Deutsch, Max Lebowitz
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Madison Realty Capital
- General contractor
- Empire Id ConstructionHeld the general construction permit on DOB job 321042590
- Buyer's lenders
- Meadowbrook Financial Mortgage, The Federal Savings BankThe sponsor's preferred mortgage lenders; you can use another · Named on p. 283
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R7D
- Commercial overlay
- C2-4
Today's zoning, from city data (PLUTO 26v2).
Nearby
- Cascade D Condominiumnext door · 39 units · 2020
- Cascade F Condominiumnext door · 62 units · 2022
- Cascade C Condominiumnext door · 33 units · 2017
- Cascade B Condominiumnext door · 32 units · 2017
- 104 Mlk Condominiumnext door · 10 units · 2021
- Cascade A Condominiumnext door · 32 units · 120 parking · 2017
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