605 Lorimer Street Condominium (The Lorimer Collective)
605 Lorimer Street, Brooklyn, NY 11211
Overview
The Lorimer Collective is a 7-unit condo in Brooklyn.
- Offering plan: Accepted September 2023 · 369 pages · floor plans on page 35
- Finishes: Engineered wood floors, quartz kitchen countertops, Fisher & Paykel and Bertazzoni appliances, washer/dryer hook-ups, Grohe bathroom fittings and split-system units for heating and cooling
- Prices: $1,697 a square foot on average, as first offered; $9.22 million in all ($8.97 million when first offered)
- Common charges: $240–$609 a month, the sponsor's first-year estimate
- Sponsor: 605 Lorimer St LLC, represented by The Law Office Of Jay Lichtman, PC; principals Arie Bar Chaim
- Neighborhood: Williamsburg, Brooklyn
- Subway: 1-minute walk to Metropolitan Av/Lorimer St (G, L); 7 minutes to Graham Av (L)
- Amendments: 2, the latest in March 2024
- Units
- 7 residential
- Neighborhood
- Williamsburg, Brooklyn
- Subway
- 1 min walk to Metropolitan Av/Lorimer St G LGraham Av L, 7 min
- Principals
- Arie Bar Chaim
- Average $/sf
- $1,697Homes in Schedule A, as first offered
- Common charges
- $240–$609 a monthSponsor's first-year estimate in Schedule A, January 1, 2024-December 31, 2024
- Offering price
- $9.22 million total $8.97 million when first offered
- Floor plans
- Page 35 of the plan
- SubmittedFebruary 2024
- AcceptedSeptember 2023
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
7 of 7homes sold (100%)
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)
Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 7 homes.
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 2 Mar 14, 2024
Amendment revises construction details, unit layouts, common interest allocations, and offering prices for the 605 Lorimer Street Condominium.
- Temporary Certificate of Occupancy expected in June 2024; Final Certificate of Occupancy expected 3-6 months later
- Perimeter wall insulation changed from spray foam to fiberglass batt with minimum R11 value
- Penthouse parapets changed to glass railings in metal frames; bulkhead parapet to be 42" stud wall with stucco
- Exhaust system changed from dome type to standard gooseneck exhausts for bathrooms and kitchens
- Unit 1 rear yard limited common element is 585 SF; Unit 2R rear yard limited common element is 340 SF
- Unit 2R convenience stairs contain non-code-compliant winder treads less than 6" deep
- HVAC manufacturer changed from Gree to DAIKIN with SEER 16 and HSPF 8.2 minimum efficiency; two-year warranty
- Unit 4F added with half bathroom at penthouse level; consists of 1 bedroom, 1 full bathroom, living room, den, half bathroom, mechanical closet, and kitchenette
- Schedule A prices increased for 2 homes (median +3.4%): 2F $895,000 → $925,000; 3R $945,000 → $955,000
Amendment 1 Feb 6, 2024
Amendment updates unit prices, revises property tax estimates based on new assessed valuation, and extends the plan term by six months.
- Unit 1 price raised to $2,750,000
- Unit 2F price raised to $925,000
- Unit 3R price raised to $955,000
- Unit 4F price raised to $1,150,000
- Unit 4R price raised to $1,295,000
- Projected annual taxes revised to $68,831.76 based on 2024/2025 assessed value of $550,566
- Blended first-year taxes estimated at $36,617.60 (50% of 2023/2024 and 50% of 2024/2025 tax years)
- Plan term extended six months from amendment date
Team
- Sponsor
- 605 Lorimer St LLC
- Principals
- Arie Bar Chaim
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Colorado Federal Savings Bank
- General contractor
- Brooklyn AzHeld the general construction permit on DOB NOW job B00579218
- Buyer's lender
- U.S. BankThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 222
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6B
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 40 Skillman Avenue Condominiumnext door · 6 units · 2023
- 38 Skillman Avenue Condominiumnext door · 3 units · 2024
- 30 Skillman Avenue Condominiumnext door · 7 units · 2023
- 25 Conselyea Street Condominiumnext door · 2 units · 2024
- 590 Lorimernext door · 3 units · 2023
- 21 Conselyea Street Condominiumnext door · 3 units · 2026
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