601 Baltic Condominium
601 Baltic Street, Brooklyn, NY 11217
Overview
601 Baltic is a 21-unit condo in Brooklyn, with 1 commercial unit.
- Offering plan: Accepted October 2023 · 326 pages · floor plans on page 175
- Finishes: 8-foot ceilings, quartz kitchen countertops, Oppein cabinets, Fisher & Paykel and Miele appliances, a washer and dryer in each apartment, Hansgrohe bathroom fittings and through-wall PTAC units for heating and cooling
- Prices: $1,593 a square foot on average, as first offered; $32.4 million in all ($31.8 million when first offered)
- Developer: Grid Group; principals Harold Einhorn and Yiannes Einhorn
- Sponsor: 601 Baltic LLC, represented by Marcus Attorneys Pllc
- Neighborhood: Boerum Hill, Brooklyn
- Subway: 5-minute walk to Atlantic Av-Barclays Ctr (2, 3, 4, 5, B, D, N, Q, R); 6 minutes to Union St (R)
- Amendments: 3, the latest in January 2025
- Units
- 21 residential · 1 commercial
- Neighborhood
- Boerum Hill, Brooklyn
- Subway
- 5 min walk to Atlantic Av-Barclays Ctr 2 3 4 5 B D N Q RUnion St R, 6 min
- Developer
- Grid Group
- Principals
- Harold Einhorn, Yiannes Einhorn
- Average $/sf
- $1,593Homes in Schedule A, as first offered
- Offering price
- $32.4 million total $31.8 million when first offered
- Floor plans
- Page 175 of the plan
- SubmittedMarch 2024
- AcceptedOctober 2023
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Feb 28, 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 19 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 →The Building
Amendments
Amendment 3 Jan 27, 2025
The plan term is extended for twelve months.
- Plan term extended for 12 months from amendment date
- 7 unsold units listed as of January 15, 2025 with total offering price of $11,160,000
- Aggregate monthly common charges for unsold units: $6,615.00 ($79,377.00 annually)
- Aggregate monthly real estate taxes for unsold units: $7,574 ($90,888 annually)
- First unit closing occurred July 15, 2024
- Initial board members: Yiannes Einhorn (President), Raman Gardner (Vice President), Philip Sun (Secretary/Treasurer)
- No unsold units are rented or encumbered by mortgage
- Sponsor's construction loan satisfied
Amendment 1 Mar 13, 2024
Amendment updates condominium commencement date to July 1, 2024, revises budget and unit prices, implements smoke-free policy, clarifies sponsor board control period, and increases real estate tax projections.
- First unit closing projected for on or about July 1, 2024
- Purchasers can rescind if first closing doesn't occur within 12 months of July 1, 2024
- Smoking banned in all units, indoor and outdoor common areas
- Sponsor controls 2 of 3 board seats for 5 years after first closing or until 90% of residential units sold, whichever is later
- First meeting of unit owners within 12 months after first closing
- Building assessed value increased from $2,499,000 to $2,500,000
- Residential unit first-year real estate taxes increased 23% from $216,300 to $266,451
- Commercial unit first-year real estate taxes increased 34.6% from $14,892 to $20,055
Team
- Sponsor
- 601 Baltic LLC
- Developer
- Grid GroupReported by mannpublications.com
- Principals
- Harold Einhorn, Yiannes Einhorn
- Counsel
- Marcus Attorneys Pllc
- Tax estimate
- The Mazursky Group, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Midfirst BankLender on the mortgage and building loan agreement recorded August 2017 in ACRIS; $5.25 million recorded
- General contractor
- Built By GridHeld the general construction permit on DOB job 320911590
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- C4-4D
- Special district
- Special Gowanus Mixed-Use District (G)
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 610 Warren Street Condominiumnext door · 31 units · 16 parking · 2016
- 613 Baltic Street Condominiumnext door · 44 units · 10 parking · 2016
- 581 Warren Streetnext door · 1987
- 137 4th Avenue Condominiumnext door · 7 units · 2021
- 58 Saint Marks Place Condominiumnext door · 105 units · 41 parking · 2020
- 350 Butler Condominiumnext door · 34 units · 2022
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