828 57th Street Condominium
828 57th Street, Brooklyn, NY 11220
Overview
828 57th Street is a condo in Brooklyn, with 6 commercial units.
- Offering plan: Accepted August 2023 · 239 pages · floor plans on pages 166–169
- Prices: $1,121 a square foot on average, as first offered; $9.45 million in all
- Common charges: $486–$1,390 a month, the sponsor's first-year estimate
- Sponsor: Hong Yuan Property LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.; principals Bing Ru Zheng and Gu Chen
- Neighborhood: Sunset Park, Brooklyn
- Subway: 6-minute walk to 8 Av (N); 9 minutes to Fort Hamilton Pkwy (N)
- Amendments: 3, the latest in February 2026
- Units
- 6 commercial
- Neighborhood
- Sunset Park, Brooklyn
- Subway
- 6 min walk to 8 Av NFort Hamilton Pkwy N, 9 min
- Principals
- Bing Ru Zheng, Gu Chen
- Average $/sf
- $1,121Homes in Schedule A, as first offered
- Common charges
- $486–$1,390 a monthSponsor's first-year estimate in Schedule A, July 1, 2023 - June 30, 2024
- Offering price
- $9.45 million total
- Floor plans
- Pages 166–169 of the plan
- SubmittedJune 2024
- AcceptedAugust 2023
- 3 amendments
- First sale
Units & Prices
Sales
From city records (ACRIS), through Dec 31, 2025.
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 →Closing Costs
The plan lists what a buyer pays at closing.
All 7 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 Feb 2, 2026
Amendment reports first closing, unsold units, rental income, and extends the offering plan by six months.
- First closing occurred November 25, 2025 for Unit 3
- Sponsor retains 5 unsold units as of January 23, 2026: units 1, 2, 4, 5, and 6
- Units 1, 2, and 6 rented to tenants; total monthly rent $22,490.00
- Unit 1: elder day care facility, lease through October 31, 2027
- Unit 2: commercial laboratory, lease through June 30, 2027
- Unit 6: dance studio, lease through June 30, 2029
- Board of Managers election by November 24, 2028
- Offering plan extended six months
Amendment 2 Jul 22, 2025
Operating year moved to October 1, 2025 – September 30, 2026 with updated real estate taxes and Schedule A reflecting DOF assessments.
- First year of condominium operation: October 1, 2025 through September 30, 2026
- Real estate taxes updated per DOF Notice of Property Value issued January 15, 2025
- Unit 3 in contract; first closing required by December 31, 2025 or purchasers offered rescission
- Units 1, 2, and 6 rented to outside tenants; total monthly rent $22,490.00
- Unit 1: elder day care facility, lease through October 31, 2027
- Unit 2: commercial laboratory, lease through June 30, 2027
- Unit 6: dance studio, lease through June 30, 2029
- Offering Plan extended six months from amendment date
Team
- Sponsor
- Hong Yuan Property LLC
- Principals
- Bing Ru Zheng, Gu Chen
- Tax estimate
- MGNY ConsultingPrepared the first-year real estate tax projection
- Construction lender
- Patriot Bank$1.6 million loan stated in the plan
- Property report
- HPL Engineering PCPrepared the plan's description of the property and its condition · Named on p. 106
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 850 57th Street Condominiumnext door · 5 units · 2021
- Henry 824 Condominiumnext door · 2025
- 816 58th Street Condominiumnext door · 10 units · 2025
- Sun City Condominiumnext door · 17 units · 12 parking · 2017
- 866 Condominiumnext door · 9 units · 2018
- Winley Plaza Condominiumnext door · 2019
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