NV (101 North 5th Street)
101 North 5th Street, Brooklyn, NY 11249
BBL 3023347501 · BIN 3062172
- Year built
- 2009
- Type
- Condominium
- Units
- 40
- Floors
- 2013
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at NV 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.
NV is the clearest example on the Northside of a building whose 421-a exemption has run out. The tax exemption (a New York City program that exempts the added assessed value created by new construction, so owners are taxed at roughly the value of the old lot while it runs) ran fifteen years here. It began with the 2011 tax year and stepped down across fiscal 2022–2025. On the fiscal 2026 and 2027 rolls the exemption is zero on every lot. Older listing records still describe a tax abatement "until 2025", and that is literally correct. What a buyer needs to understand is that the benefit is over, and the carrying cost now reflects full taxes.
The building belongs to the first generation of condominiums after the 2005 Greenpoint–Williamsburg rezoning, which turned blocks of manufacturing lots between Kent and Bedford Avenues into mixed-use residential districts. The site was a one-story building. The sponsor bought it in 2006, and Department of Buildings records show the new-building application filed that October, followed by the demolition permit in January 2007. The offering plan is dated December 2007, the certificate of occupancy was issued in 2009, and apartments closed between May 2009 and August 2010.
It is a Karl Fischer building. That tells you its era and its product: efficient plans, glass, balconies, and a sponsor-driven schedule. As the architect profile notes, the name carries no price premium. Its practical advantages are the mid-block site a block and a half from Bedford Avenue, a small resident count, and deeded parking. That last one is scarce on the Northside's interior blocks.
Architecture and unit composition
Forty residences stand over the garage on a 15,000-square-foot lot, per PLUTO. The Digital Tax Map lays out the floors like this: two apartments on the first floor, nine on each of the second through fourth, seven on the fifth, and four larger units on the sixth. That top-floor tapering is where the building's largest residences sit. Department of Finance unit areas run from about 670 square feet for the smallest one-bedrooms to about 1,435 square feet at the top. Listing records describe ceilings near eleven feet and tall windows. Confirm both for a specific apartment against the floor plan in the offering plan.
The 22 parking units are separate condominium lots. ACRIS shows the sponsor selling most of them bundled with an apartment deed in 2009–2010. It also shows later transfers between owners on separate deeds. Parking here trades as a separate asset, and not every apartment has a space.
Building operations
The 421-a benefit is over, and that is the most important carrying-cost fact in the building. The Department of Finance exemption roll records a 421-a exemption (code 5113) with a fifteen-year term, benefit start 2011, base year 2006. The roll shows the exemption declining each year from fiscal 2022 through fiscal 2025 and at zero from fiscal 2026 (the tax year beginning July 2025) onward, on all 62 lots. That matches the standard fifteen-year schedule: eleven years at full value, then four years stepping down. Anyone modeling ownership here should work from the current bill, not from a pre-2025 listing, a pre-2025 budget or a seller's recollection. A buyer comparing NV with a newer condominium that still carries an exemption is comparing a fully taxed building with a partially taxed one, and the monthly difference can be material.
The building has a construction-defect history on the public record. A 2013 Kings County Supreme Court decision (2013 NY Slip Op 50575(U)) records that the board of managers sued the sponsor and the architect in 2012. The complaints included leaks, HVAC problems, roofing, drainage, missing pavers and cracking in the concrete floors. The board had signed a settlement agreement and general release with the sponsor in July 2010. The court dismissed the claims against the sponsor and the architect in April 2013 on that release and on the Martin Act, New York's securities law that also governs condominium offering plans. The decision was published more than a decade ago and does not tell us the building's current condition. What it does tell a buyer is to ask the managing agent which of those items were remediated, at whose cost, and whether any related work or assessment is still open.
The sponsor finished its residential sell-out in 2010 and conveyed its last parking unit in 2014. There is no sponsor position left in the building. Staffing and the current common-charge budget are not documented in the public record. Confirm both with the managing agent.
Recent sales
NV trades as Northside new construction of the 2006–2012 generation. Pricing runs in dollars per square foot, with the sixth-floor residences and apartments with a deeded space at the top of the building's range. Recorded resale activity is steady but thin, as it is in any 40-unit building. Two or three recorded trades a year is typical, so any single sale moves the building's apparent median.
Two adjustments matter when pricing against comparables. First, the tax position has changed: resales before mid-2025 were underwritten against a partially exempt bill, and every resale since has carried full taxes. Second, parking: an apartment sold with a deeded space is a different product from one without, and the space should be priced separately. Indexed to 2025 as the last complete year, the Northside's interior-block condominiums trade below the full-service waterfront towers on Kent Avenue. Within that band, buildings with parking and outdoor space sit toward the top.
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 7, 2026 | 2A | $2,450,000 |
| Sep 5, 2025 | 1A | $995,000 |
| Aug 15, 2025 | 5A | $1,900,000 |
| Jun 27, 2025 | 3A | $1,665,000 |
| May 9, 2025 | 4A | $1,521,000 |
| Aug 19, 2024 | 2E | $1,600,000 |
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 3-02334-7501) 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 $1.67M (5 sales since 2024), a buyer putting 25% down would pay about $69,725 to close, or 4.2% of the price.
- Mansion tax: $16,650
- Mortgage recording tax: $24,038
- Title insurance: $7,492
- Attorneys, lender, building fees, reserves and filings: $21,544
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
Underwrite full taxes. The 421-a exemption ended with fiscal 2025. Pull the current bill for the specific unit and its parking lot, and run True Monthly Carrying Cost on that number.
Ask about the defect history. The 2010 settlement and the 2012–2013 litigation are on the public record. Ask the managing agent what was repaired, whether the reserve was drawn down to pay for it, and whether any roofing, drainage or façade work is pending.
Confirm what the parking deed covers. A space is a separate lot with its own tax bill and deed. Make sure the contract names it.
Get the policy stack from the documents. The plan on file is not text-searchable. Leasing terms, pet rules, any right of first refusal and any transfer fee should come from the by-laws and house rules supplied by the managing agent.
What to know if you’re selling
Lead with the facts a buyer will check. A seller who can produce the current tax bill, the board's account of the post-construction repairs, and the parking deed sets the terms of the diligence conversation.
Price the space separately. A deeded space on the Northside is a scarce asset. Show buyers the apartment's value and the parking's value as two numbers.
Don't market the abatement. It has expired. Copy that still mentions it will be read as either stale or misleading.
Comparable buildings
If you're considering NV, also evaluate:
- The Rialto (150 North 5th Street) — the same street two blocks east; a loft conversion against NV's new construction
- 144 North 8th Street — a Northside condominium of the same development wave, three blocks north
- 49 North 8th Street (North8) — a mid-block Northside boutique condominium of the same era
- 125 North 10th Street — a six-story Northside condominium of the same generation, with garage parking
- 20 Bayard Street (The Bayard Views) — another Karl Fischer condominium, at McCarren Park
- 80 Metropolitan Avenue — a 2008 Northside condominium closer to the waterfront
- Warehouse 11 (214 North 11th Street) — a low-rise Northside alternative with a loft reference
- The Edge — South Tower (22 North 6th Street) — the waterfront amenity tower a few blocks west; scale and service against a small building
More Williamsburg buildings
- 90 North 5th Street — 2010 condominium
- 98 Havemeyer Street (Williamsburgh Mews) — 2002 condominium
- Austin Nichols House (184 Kent Avenue) — 1914 condominium
- Olive Park, 100 Maspeth Avenue — 2007 condominium
- One Domino Square (346 Kent Avenue) — 2024 condominium
- One Northside Piers (1 Northside Piers) — 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 NV?
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