Katan Court Condominium
726 Madison Street, Brooklyn, NY 11221
Overview
Katan Court is a new 7-unit condo in Brooklyn.
- Offering plan: Accepted November 2024 · 273 pages · floor plans on page 94
- Finishes: Wood floors, hard wood cabinets, washer/dryer hook-ups, Blossom bathroom fittings and a VRF heat pump system for heating and cooling
- Prices: $1,120 a square foot on average, as first offered; $5.45 million in all
- Common charges: $239–$424 a month, the sponsor's first-year estimate
- Developers: GIM Construction, PMJ Construction and Dimval Inc.; principals Eduard Katanov, Michael Davydov and Mykhaylo I. Pelekhach
- Sponsor: Emma Madison LLC, represented by Eial Girtz, PC
- Neighborhood: Bedford-Stuyvesant, Brooklyn
- Subway: 10-minute walk to Gates Av (J, Z); 10 minutes to Kosciuszko St (J)
- Amendments: 3, the latest in May 2026
- Units
- 7 residential
- Neighborhood
- Bedford-Stuyvesant, Brooklyn
- Subway
- 10 min walk to Gates Av J ZKosciuszko St J, 10 min
- Developers
- GIM Construction, PMJ Construction, Dimval Inc.
- Principals
- Eduard Katanov, Michael Davydov, Mykhaylo I. Pelekhach
- Average $/sf
- $1,120Homes in Schedule A, as first offered
- Common charges
- $239–$424 a monthSponsor's first-year estimate in Schedule A, February 1, 2025 To January 31, 2026
- Offering price
- $5.45 million total
- Floor plans
- Page 94 of the plan
- SubmittedMay 2025
- AcceptedNovember 2024
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
6 of 7homes sold (86%)
From city records (ACRIS), through Apr 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.
Each home's estimate, city bills and tax breaksSee it free →Compare
| Figure | This building1 | Role Bk210 units · 0.7 miaccepted 2024 | The Harman38 units · 0.6 miaccepted 2025 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.49In line | $0.34 | $0.55 |
| Average Offering PricePer Apartment | $778,571In line | $725,230 | $820,625 |
| Average PricePer Square Foot | $1,120In line | $1,111 | $1,130 |
| Average Unit SizeSquare Feet | 695 SFIn line | 653 SF | 726 SF |
How We Got This
- Comps: the closest Brooklyn plans on size, $/SF and launch date, within 2 miles when possible.
- Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
- Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
- Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.
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 May 20, 2026
Plan extended 12 months; most units closed; sponsor surrendered board control; common charges and tax information updated.
- Plan extended 12 months
- Units 1A, 2A, 2B, 3A, 3B and 4B have closed; Unit 4A in contract
- First unit owners meeting held March 8, 2026; sponsor surrendered board control
- New Board members: Simona Ferrari, Cooper Haines, Anya Mhone
- Unit 4A common charges $411.87, real estate tax $486.61
- Tax lots apportioned but final real estate tax assessment not yet finalized
Amendment 2 Oct 30, 2025
Plan extended 6 months; first closings occurred; condominium operational with sponsor covering costs.
- Plan extended 6 months
- Declaration recorded September 23, 2025; Final Certificate of Occupancy obtained October 30, 2025
- First closing (Unit 4B) occurred October 21, 2025; Units 2A, 2B, 3A, 3B also closed; Unit 1A in contract; Unit 4A unsold
- Common charges: Unit 1A $423.81/month, Unit 4A $411.87/month; real estate taxes Unit 1A $500.71/month, Unit 4A $486.61/month
- Working capital account balance $5,504.68; reserve account $0.00 (should be $2,900.00); monthly reserve deposit $241.67
- Sponsor covering all operating costs; delaying common charge collection but can commence after 30-day notice
- No construction financing obtained; no units pledged as collateral
- Budget for first year unchanged from original offering plan
Amendment 1 May 2, 2025
Plan declared effective with two units in contract and extended for 6 months.
- Plan extended for 6 months
- Plan declared effective on May 9, 2025 based on 2 units in contract (28% of 7 units)
- Units 2B and 3A are in contract
- None of the units are rented or occupied
Team
- Sponsor
- Emma Madison LLC
- Developers
- GIM Construction, PMJ Construction, Dimval Inc.
- Principals
- Eduard Katanov, Michael Davydov, Mykhaylo I. Pelekhach
- Counsel
- Eial Girtz, PC
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- General contractor
- Acer ConstructionHeld the general construction permit on DOB NOW job B00910416
- Property report
- Jian Engineering, PLLCPrepared the plan's description of the property and its condition · Named on p. 127
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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- 854 Putnam Avenue Condominiumnext door · 8 units · 2017
- 684 Madison Street Condominiumnext door · 8 units · 2019
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