THE CONDO BOOK PROJECT

697 Monroe Street Condominium

697 Monroe Street, Brooklyn, NY 11221

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Overview

697 Monroe Street is a 4-unit condo in Brooklyn.

  • Offering plan: Accepted April 2018 · 332 pages · floor plans on page 25
  • Finishes: 9-foot ceilings, hardwood floors, stone kitchen countertops, wood cabinets, washer/dryer hook-ups and split-system units for heating and cooling
  • Prices: $1,000 a square foot on average, as first offered; $3.8 million in all ($3.55 million when first offered)
  • Common charges: $383–$672 a month, the sponsor's first-year estimate
  • Sponsor: 697 Monroe Street LLC, represented by The Law Office Of Jay Lichtman, P.C.; principals Michael Uhr
  • Neighborhood: Bedford-Stuyvesant, Brooklyn
  • Subway: 8-minute walk to Gates Av (J, Z); 9 minutes to Kosciuszko St (J)
  • Amendments: 3, the latest in October 2018
  1. SubmittedJune 2018
  2. AcceptedApril 2018
  3. 3 amendments
  4. First sale
  5. Latest sale

Sales

4 of 4homes sold (100%)
Every sale: 4 homes, with price and dateSee it free →

From city records (ACRIS), through Jun 30, 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 697 Monroe Street's common charges compare with similar buildings? →

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 plan lists what a buyer pays at closing.

All 6 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 3 Oct 16, 2018

Amendment adds FinCEN reporting requirements for certain purchases, establishes building-wide smoking prohibition, and updates building plans and budget with projected condominium operation start of May 1, 2019.

  • FinCEN Currency Transaction Report required for cash purchases of $300,000+ by legal entities through May 15, 2019
  • Smoking prohibited everywhere except inside units or outdoor limited common elements connected to units; violations subject to board-determined fines
  • First year of condominium operation projected to begin May 1, 2019
  • Building plans revised: utility rooms redesigned, HVAC room added to Unit 1, condenser relocated, interior stairs enclosed, closets and kitchen layouts changed
  • Penthouse rear terrace allocated as limited common element to Unit 4; front terrace as common element
  • Unit 1 basement apartment designated as ground level and handicapped accessible
  • Each unit provided with Sharp microwave model KB6524PSY
  • Purchasers offered 15-day rescission right with full down payment refund if condominium operation commencement delayed past June 30, 2019

Amendment 2 Aug 15, 2018

Unit 1 offering price changed to $1,095,000.

Amendment 1 Jun 14, 2018

Offering prices for four units are amended.

  • Unit 1 price: $999,000
  • Unit 2 price: $779,000
  • Unit 3 price: $799,000
  • Unit 4 price: $1,125,000
What each amendment changed, line by lineSee it free →

Team

Sponsor
697 Monroe Street LLC
Principals
Michael Uhr
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Patch of Land Lending$1.45 million recorded
Buyer's lenders
JPMorgan Chase, 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 district
R6B

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

Nearby

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The Condo Book Project Are 697 Monroe Street's common charges high for the area? Yes, they're on the high side. 697 Monroe Street budgets $0.58 per square foot a month, against a $0.51 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?