1 Powers Street
1 Powers Street, Brooklyn, NY 11211
BBL 3027737503 · BIN 3330027
- Year built
- 2009
- Type
- Condominium
- Units
- 31
- Floors
- 6
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 1 Powers Street would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
The fact that sets 1 Powers apart is on the tax bill. Every lot in the condominium carries a 25-year 421-a exemption, which is the long version of the city's new-construction tax benefit. The exemption covers the assessed value the new construction added, so owners pay tax on roughly the value of what stood here before. On the current Department of Finance roll it removes about 90 percent of a typical apartment's assessed value, and it stays at full strength into the early 2030s.
The building itself is a mid-size Williamsburg condominium of the first new-development wave: six stories and 31 residences at the corner of Union Avenue and Powers Street, on the east side of the neighborhood below Metropolitan Avenue. It was not built from the ground up. The DOB application describes it as an enlargement of an existing one-story commercial building, extended both upward and outward, and the offering plan says the same. Most of the floor area is new. The old building explains PLUTO's 1931 date, which describes the original structure and not the condominium.
The sponsor filed in 2005, received its full permit in 2008, and closed its first apartments in 2010. The residences sold out between 2010 and early 2011. The ground-floor commercial and community-facility units sold separately, in 2012 and 2014.
Architecture and unit composition
Kutnicki Bernstein Architects designed the building, per the DOB application and the architect's report in the offering plan. The sponsor's marketing described a gray-and-black exterior with setbacks; the architect's report specifies Trespa panel facing on the parapets. The ground floor holds the retail unit on the Union Avenue corner, the lobby and the garage. The residences run from the second floor to the sixth: seven apartments on each of floors two through five and three on the sixth.
The residences. Per the offering plan, apartments range from about 555 to 1,951 square feet. Most are one- and two-bedrooms, and many have balconies or terraces. Because these are condominium units, the Department of Finance records each one's area on the roll. Those figures run a little differently from the plan's and are worth checking for any specific unit.
The non-residential units. The retail unit is about 4,158 square feet on the ground floor, and the offering plan lets it be used for any lawful purpose with no board control over permitted uses. The community-facility unit has its own elevator, per the architect's report. The sponsor sold both, in 2012 and 2014, and each is held separately today. The plan allocates 17.5 percent of the property's taxes to the commercial unit and 3.5 percent to the community-facility unit, which lowers the residential share.
Parking. Sixteen parking units are on the ground level. They are separately deeded, and a buyer should confirm which lot a contract includes.
Building operations
The 421-a clock. The Department of Finance exemption roll records code 5114 — 421-a, 25 years, no cap on all 49 lots, with a benefit start of 2012 and a base year of 2007, still at 100 percent of the benefit on the current roll. On the statutory 25-year schedule, the full exemption runs 21 years and then steps down 20 percent a year over the last four. On that reading the building keeps its full exemption through about fiscal 2032, steps down across fiscal 2033–2036, and pays full taxes from about fiscal 2037 (July 2036). The documents we reviewed do not say why the building qualified for the 25-year term rather than a shorter one, and we found no affordable-unit provisions in the plan text we could read. Confirm the schedule against the current bill. Because the exemption covers nearly all of the assessment, the increase at the end will be large.
Certificate of occupancy. DOB job records show the alteration job signed off in June 2010. The certificate itself is not in the city's online certificate dataset. A buyer's attorney should pull it from the DOB file.
Sponsor position. All 31 residences sold between 2010 and early 2011. The sponsor still holds two of the 16 parking units, per the Department of Finance roll. No sponsor-held residences remain.
Reserves and budget. We did not find recent financial statements on file. Ask for the current budget, the reserve balance and any planned assessment.
Recent sales
1 Powers trades as first-generation Williamsburg new construction, priced in dollars per square foot. Floor, outdoor space and a deeded parking unit are the main differences between one sale and the next. With 31 residences and long-term owners, resales come a few a year at most. Several convey an apartment together with a parking unit, so read any recorded price against what it included.
The comparison that matters most is carrying cost. Against a fully taxed Williamsburg condominium of the same size, an apartment here costs meaningfully less each month today, and keeps most of that advantage until the step-down begins in about fiscal 2033. Indexed to 2025 as the last complete year, the east-side condominiums between Union Avenue and Lorimer Street trade below the Northside and waterfront buildings. A building with parking and a live abatement sits toward the top of that band.
Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Recent closings at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| Jul 24, 2026 | 302 | $705,056.68 |
| Feb 5, 2026 | 101 | $3,705,000 |
| Sep 10, 2025 | P12 | $1,585,060 |
| Aug 12, 2025 | 602 | $1,900,000 |
| Jun 28, 2022 | 405 | $865,000 |
| May 27, 2022 | 502 | $1,300,000 |
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 3-02773-7503) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price.
At the recent median sale of $1.9M (4 sales since 2024), a buyer putting 25% down would pay about $77,371 to close, or 4.1% of the price.
- Mansion tax: $19,000
- Mortgage recording tax: $27,431
- Title insurance: $8,550
- Attorneys, lender, building fees, reserves and filings: $22,390
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
Model the whole tax clock. Today's bill reflects a nearly complete exemption. Run the True Monthly Carrying Cost at today's number and at the fully taxed number that arrives around fiscal 2037, and weigh it against how long you expect to own.
Check the deed for every lot. Apartment and parking unit are separate tax lots. Confirm which ones the contract conveys.
Get the certificate of occupancy. It is not in the online dataset. Have your attorney pull it before contract.
Ask for current financials. We found no recent budget or audited statements on file. Request them, along with the reserve balance and any open façade or roof work.
Plan for PTAC units. Heating comes from the central boilers, but air conditioning is room-by-room PTAC equipment, which ages and gets replaced at the owner's cost.
What to know if you’re selling
Sell the abatement with dates. Buyers discount what they don't understand. Show the current bill, the step-down schedule and the year full taxes arrive.
Price the parking unit separately. A deeded space has its own value. Showing it separately makes the apartment price easier to defend.
Correct the year built. Listing data that carries 1931 describes the old commercial building. The condominium is 2009–10 construction.
Comparable buildings
If you're considering 1 Powers Street, also evaluate:
- 14 Hope Street — a 23-residence condominium of the same vintage near Grand Street, also on a 25-year 421-a
- 80 Metropolitan Avenue — a 2008 condominium of the same era, closer to the waterfront
- 415 Leonard Street — a 2008 condominium with deeded parking at the northern edge of Williamsburg
- 147 Hope Street — newer east-side condominium with ground-floor retail
- 49 North 8th Street (North8) — a 2006–07 Northside condominium with deeded parking units
- 125 North 10th Street — a 2007 Northside condominium with garage parking
- NV (101 North 5th Street) — a condominium of the same era whose shorter 421-a has already expired
- 88 Withers Street (Element 88) — a newer small condominium in northern Williamsburg
More Williamsburg buildings
- 100 North 3rd Street (100 N3 Lofts) — 2008 condominium
- 110 North 1st Street — 2022 condominium by Isaac & Stern Architects
- 119 Lorimer Street — 2004 condominium
- 125 North 10th Street — 2007 condominium
- 127 Kent Avenue (The Sixth) — 2025 condominium by BKSK Architects
- 130 Jackson Street (Jackson Foundry Lofts) — 2007 condominium
The neighborhood
For the full neighborhood — its buildings, character, and market — read The Roebling Team Guide to Williamsburg.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at 1 Powers Street?
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