627-629 Dekalb Avenue Condominium
627-629 Dekalb Avenue, Brooklyn, NY 11216
Overview
627-629 Dekalb Avenue is a 35-unit condo in Brooklyn.
- Offering plan: Accepted October 2018 · 326 pages · floor plans on page 28
- Finishes: 8'6" ceilings, wood floors and washer/dryer hook-ups
- Prices: $32.8 million in all ($31 million when first offered)
- Common charges: $341–$922 a month, the sponsor's first-year estimate
- Sponsor: Nostrand-Dekalb Development LLC, represented by The Law Office Of Jay Lichtman, P.C.; principals Eliahu Nahman
- Subway: 3-minute walk to Bedford-Nostrand Avs (G); 8 minutes to Myrtle-Willoughby Avs (G)
- Amendments: 3, the latest in October 2019
- Units
- 35 residential
- Subway
- 3 min walk to Bedford-Nostrand Avs GMyrtle-Willoughby Avs G, 8 min
- Principals
- Eliahu Nahman
- Common charges
- $341–$922 a monthSponsor's first-year estimate in Schedule A, July 1, 2018 - June 30, 2019
- Offering price
- $32.8 million total $31 million when first offered
- Floor plans
- Page 28 of the plan
- SubmittedJanuary 2019
- AcceptedOctober 2018
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Nov 30, 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.
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 7 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 Oct 7, 2019
Amendment adds disclosure of FinCEN currency reporting requirements for certain purchases, updates New York State real estate transfer tax rules with higher rates for properties $3,000,000 and above, and implements new Supplemental Tax on purchases $2,000,000 and above.
- FinCEN reporting requirement for business entity purchases $300,000+ without external financing, May 16–November 11, 2019
- Real Estate Transfer Tax rate increased to 0.65% for purchases $3,000,000 or more (previously 0.4% for all)
- New Supplemental Tax on purchases $2,000,000 or more: 0.25%–2.90% depending on price tier
- First unit closing occurred June 12, 2019
- Final Certificate of Occupancy issued August 22, 2019
- Condominium Declaration recorded June 6, 2019
- Reserve Account $6,185.30; Working Capital Account $18,486.88
- Offering Plan term extended six months
Amendment 2 Feb 27, 2019
This amendment revises the budget and common charges for the first year of condominium operation, changes the projected start date to April 1, 2019, and names the managing agent and selling agent.
- First year of condominium operation projected to begin April 1, 2019
- Revised budget with total income and expenses of $156,279.00
- Common charges decreased per revised Schedule A
- Management fee set at $25,200.00 by MRE Property Management LLC
- Building insurance annual premium $9,821.00 with $10,000,000 building coverage
- Reserve fund set at $15,700.00
- Keller Williams NYC named as selling agent
- Plan term extended for six (6) months from amendment date
Amendment 1 Feb 11, 2019
Amendment adds FinCEN reporting requirements for certain cash purchases, updates construction status to substantially completed, revises floor plans and building systems, specifies gym equipment, and updates Schedule A.
- FinCEN Currency Transaction Report required for cash purchases of $300,000+ by business entities without bank financing
- Building construction substantially completed November 2018; Final Certificate of Occupancy expected by March 2019
- Floor plans revised for door swings, door types, locations, bathroom layouts, and closet additions
- Cellar layout changed: janitor's room added, one general common element storage room, bicycle storage relocated
- Rooftop recreation space 2,075 sf with legal max occupancy approximately 10 persons
- Unit 1A heating/cooling by Daikin ductless split system, Model D3H36W09151500, 36,000 BTU, 17.9 SEER, 9.2 EER
- Unit 7B allocated 2 terraces: 600 sf and 305 sf as limited common elements
- Common area gym equipment specified including treadmills, weight machines, elliptical, dumbbells, kettlebells, yoga mats
Team
- Sponsor
- Nostrand-Dekalb Development LLC
- Principals
- Eliahu Nahman
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Bankwell Bank$9 million recorded
- General contractors
- M-Tek Development, Snbd EnterprisesHeld the general construction permit on DOB job 320914828
- Title agency
- Riverside Abstract Co., LLCThe sponsor's title company for buyers; you can choose another · Named on p. 70
- Buyer's lenders
- Citizens Bank, Wells FargoThe sponsor's preferred mortgage lenders; you can use another · Named on p. 6
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning districts
- R6A, R6BThe lot is split between two districts, the largest share first
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 641 Dekalb Avenue Condominiumnext door · 5 units · 2020
- 600 & 610 Dekalb Avenue Condominiumnext door · 70 units · 2025
- 557 Lafayette Avenue Condominium0.1 mi · 6 units · 2010
- 541 Lafayette Avenue Condominium0.2 mi · 3 units · 2020
- 176 Kosciusko Street Condominium0.2 mi · 6 units · 2006
- 664 Lafayette Avenue Condominium0.2 mi · 3 units · 2017
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