434 Union Street Condominium
434 Union Street, Brooklyn, NY 11231
Overview
- Units
- 3 residential
- Subway
- 5 min walk to Carroll St F GUnion St R, 9 min
- Principals
- Rey Grabato
- Average $/sf
- $1,537Homes in Schedule A, as first offered
- Common charges
- $431–$861 a monthSponsor's first-year estimate in Schedule A, June 1, 2020 through May 31, 2021
- Offering price
- $6.33 million total $6.28 million when first offered
The sponsor of record is Union Street Capital 434, LLC, represented by Gabor & Marotta LLC. The offering plan runs 263 pages. The sponsor has filed 4 amendments, the latest in September 2021. The nearest other condo plan on file is Satori, F/K/A Fusion, next door.
Plan CD190329 · Rehab · accepted Feb 19, 2020 · AG record ↗
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 3 of 3 |
| Closing prices vs. Schedule A3 homes: $5,421,100 at closing against $6,275,000 in Schedule A (p. 27) | −13.6% |
| Average closing price3 homes, on their Schedule A square feet | $1,328 / SF |
| Closingsfirst and latest recorded | Aug 12, 2021 – May 18, 2022 |
Sales recorded with the Department of Finance (ACRIS) through Dec 31, 2023: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.
All 3 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| Unit B | Aug 12, 2021 | $1,290,000 | $1,500,000 p. 27 | −14% |
| Unit C | Dec 6, 2021 | $1,280,000 | $1,600,000 p. 27 | −20% |
| Unit A | May 18, 2022 | $2,851,100 | $3,175,000 p. 27 | −10.2% |
Pro
Closings are for subscribers
Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.
Budget
From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size
Team
- Sponsor
- Union Street Capital 434, LLC
- Principals
- Rey Grabato
- Counsel
- Gabor & Marotta LLC
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Toorak Repo Seller Trust 1$3.99 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- Satori, F/K/A Fusionnext door · 35 units · 9 parking · 2006
- 477 Sackett Street Condominiumnext door · 2 units · 2026
- 345 Carroll Street Condominiumnext door · 32 units · 24 parking · 2014
- 333 Carroll Condominiumnext door · 30 units · 12 parking · 2007
- 437 Sackett Street Condominiumnext door · 2 units · 2024
- Degraw Gardens Condominiumnext door · 13 units · 2021