H7 Condominium
623 Avenue H, Brooklyn, NY 11230
Overview
H7 is a 38-unit condo in Brooklyn, with 4 parking units and 1 commercial unit.
- Offering plan: Accepted February 2022 · 359 pages · floor plans on page 4
- Finishes: 8-foot ceilings, hardwood floors, washer/dryer hook-ups and split-system units for heating and cooling
- Prices: $978 a square foot on average, as first offered; $24.8 million in all ($17.6 million when first offered)
- Common charges: $213–$531 a month, the sponsor's first-year estimate
- Developer: Z H L Group Inc; principals Lev Berenshteyn, Yevgeniy Lvovskiy, Alexander Soskin and David Babaev
- Sponsor: 623 Ave H LLC, represented by Tsyngauz & Associates, P.C.
- Neighborhood: Midwood, Brooklyn
- Subway: 9-minute walk to Avenue H (Q); 10 minutes to 18 Av (F)
- Amendments: 3, the latest in July 2023
- Units
- 38 residential · 4 parking · 1 commercial
- Neighborhood
- Midwood, Brooklyn
- Subway
- 9 min walk to Avenue H Q18 Av F, 10 min
- Developer
- Z H L Group Inc
- Principals
- Lev Berenshteyn, Yevgeniy Lvovskiy, Alexander Soskin, David Babaev
- Average $/sf
- $978Homes in Schedule A, as first offered
- Common charges
- $213–$531 a monthSponsor's first-year estimate in Schedule A, July 1, 2022 - June 30, 2023
- Offering price
- $24.8 million total $17.6 million when first offered
- Floor plans
- Page 4 of the plan
- SubmittedMay 2022
- AcceptedFebruary 2022
- 3 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)
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Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 38 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 4 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 Jul 14, 2023
Amendment confirms building occupancy, fund accounts, and remaining unsold units with their charges.
- First unit closing occurred November 23, 2022
- Final certificate of occupancy issued March 27, 2023
- Condominium declaration recorded October 7, 2022
- Real estate taxes separately assessed as of July 1, 2023
- Working capital fund: $23,852.33
- Reserve fund: $6,174.99
- 5 unsold units: 4A, 5A, PS1, PS6, C1
- Sponsor surrendered board control May 5, 2023
Amendment 2 Jul 19, 2022
Elimination of parking system in favor of three additional parking units, revised handicapped parking designation, updated common interest percentages, and changes to preferred lender.
- MAP-LNS parking system eliminated; building will have seven (7) total parking units (PS1-PS7) on first floor instead
- Handicapped parking unit changed from PS2 to PS1, with covenant allowing handicapped residential unit owners to trade or purchase at fair market value
- Percentages of common interest revised for all parking units and residential units PH2A and PH2B
- Common charges allocation modified: Community Facility Unit at 6.00%, Residential Units and Parking Units at 94.00%
- Offering price of Parking Unit PS4 revised
- Preferred Lender changed from FM Home Loans to Guy Aboutboul at Guaranteed Rate
- Final Certificate of Occupancy issued March 27, 2023
Amendment 1 April 2022
Amendment declares the offering plan effective upon acceptance of purchase agreements for seven residential units.
- Plan declared effective with 7 units sold (18.42% of residential units)
- Purchase agreements accepted for units 2C, 2E, 3E, 3F, 5E, 6E, and PH1B
- No other changes to the original plan dated March 1, 2022
Team
- Sponsor
- 623 Ave H LLC
- Developer
- Z H L Group Inc
- Principals
- Lev Berenshteyn, Yevgeniy Lvovskiy, Alexander Soskin, David Babaev
- Counsel
- Tsyngauz & Associates, P.C.
- Tax estimate
- Boris Saks, Esq.Prepared the first-year real estate tax projection
- Construction lender
- The Bank of Princeton$10.6 million loan stated in the plan
- Buyer's lender
- FM Home LoansThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 19
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R7A
- Special district
- Special Ocean Parkway District (OP)
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 892 East 7th Street Condominiumnext door · 8 units · 2018
- H70 Condominiumnext door · 43 units · 18 parking · 2023
- 770 Ocean Parkwaynext door · 1982
- 733 Ocean Parkway Condominium0.1 mi · 30 units · 7 parking · 2023
- Highline Condominium0.1 mi · 13 units · 7 parking · 2017
- Parkville Avenue Condominium0.1 mi · 12 units · 2005
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