THE CONDO BOOK PROJECT

Xian De Condominium

673 56 Street, Brooklyn, NY 11220

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Overview

Xian De is an 8-unit condo in Brooklyn, with 1 commercial unit.

  • Offering plan: Accepted July 2021 · 356 pages · floor plans on pages 189–192
  • Finishes: Hardwood floors, stone kitchen countertops, Frigidaire and GE appliances, Delta bathroom fittings and split-system units for heating and cooling
  • Prices: $652 a square foot on average, as first offered; $5.34 million in all
  • Sponsor: Xian De Realty LLC, represented by Hc Law & Associates, P.C.; principals Youbin Cai
  • Neighborhood: Sunset Park, Brooklyn
  • Subway: 7-minute walk to 8 Av (N); 11 minutes to 53 St (R)
  • Amendments: 2, the latest in November 2022
  1. SubmittedAugust 2021
  2. AcceptedJuly 2021
  3. 2 amendments
  4. First sale
  5. Latest sale

Sales

9 of 9homes sold (100%)
Every sale: 9 homes, with price and dateSee it free →

From city records (ACRIS), through Jul 31, 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 Xian De's common charges compare with similar buildings? →

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills for 9 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 5 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 2 Oct 20, 2022

All residential and commercial units have been sold and closed; sponsor has relinquished control of the board to unit owners.

  • All 8 residential units and 1 commercial unit closed as of June 15, 2022
  • First closing occurred January 10, 2022 for Unit 4A
  • Sponsor relinquished board control on June 6, 2022
  • Unit owners formed 673 56 St Condo Association Inc. on January 17, 2022
  • Working capital fund of $8,000 deposited in Cathay Bank

Amendment 1 Jul 22, 2021

Amendment declares the plan effective, reports receipt of temporary certificate of occupancy, and modifies closing costs regarding New York State Transfer Tax calculation.

  • Plan declared effective based on two purchase agreements representing 22% of eight residential units and one commercial unit
  • Temporary Certificate of Occupancy received September 22, 2021
  • Modified Article 3 Section XV to exclude NYSTT from consideration calculation when paid by purchaser under law effective July 1, 2021
  • Extension of plan term
What each amendment changed, line by lineSee it free →

Team

Sponsor
Xian De Realty LLC
Principals
Youbin Cai
Tax estimate
Platform Real Estate Inc.Prepared the first-year real estate tax projection
Structural engineer
Tan ArchitectNamed on p. 157
Property report
Chang Hwa TanPrepared the plan's description of the property and its condition · Named on p. 157

From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?

Zoning

Zoning district
R7A
Commercial overlay
C2-4

Today's zoning, from city data (PLUTO 26v2).

Nearby

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The Condo Book Project Are Xian De's common charges high for the area? No, they're on the low side. Xian De budgets $0.36 per square foot a month, against a $0.38 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?