111 Steuben Street (The Absolute)
111 Steuben Street, Brooklyn, NY 11205
BBL 3018947501 · BIN 3054615
- Year built
- 2009
- Type
- Condominium
- Units
- 35
- Floors
- 6
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at The Absolute 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 Absolute is the Clinton Hill condominium whose tax abatement has just run out. It belongs to the pre-crisis generation of Brooklyn new construction: filed in 2005, finished in 2009, with a 15-year 421-a exemption that began in the 2010/11 tax year. That exemption phased down in its last years and ended after the 2024/25 tax year. For a buyer, that is the single most important fact about the building. Any tax figure from a listing or a sale before mid-2025 reflects a benefit that no longer exists.
The sponsor is gone. 941 Washington Associates sold seven apartments in 2009, twelve in 2010, thirteen in 2011, two in 2012 and the last in 2013. It conveyed one commercial unit and a group of parking units in a single 2013 deed. Every residential lot now shows its own owner on the Department of Finance roll — 35 lots, 35 owners of record, all classed R4 (condominium apartments in an elevator building), not RR (condominium rentals). The association's audited statements date its operations from March 1, 2013. This is a settled resale condominium.
The third fact is the finances, which are thinner than a buyer would expect for a 68-lot building. They are set out under Building operations below.
Architecture and unit composition
Gary Shoemaker designed a six-story steel frame with a green-tinted glass curtain wall, a clean break from the brick and brownstone around it. The lot is 125 by 100 feet. PLUTO records about 34,500 square feet of residential area, about 7,000 square feet of retail and about 5,000 square feet of garage.
The 35 apartments run from floor two to floor six: eight per floor on floors two through four (lines A through H), seven on the fifth, and four on the sixth. The plan's mix is weighted to one-bedrooms. Press accounts of the launch describe floor-to-ceiling glazing, high ceilings, and terraces or balconies on many units. Floor, exposure, outdoor space and parking separate otherwise similar lines.
Parking is a set of 31 separately deeded units, each its own tax lot. They carried the same 421-a exemption as the apartments, and they pay their own share of common charges — about $47,000 of association revenue in fiscal 2024. A space conveys only with its own deed. Confirm whether a listed apartment comes with one.
The two commercial units at grade are separately owned and outside the residential market. They contribute to the association under the declaration.
Building operations
Finances, per the audited statements on file (years ended April 30, 2024 and 2023). The association billed about $425,000 in residential common charges in fiscal 2024, up from about $358,000 the year before, plus about $47,000 from the parking units and reimbursed utilities. Expenses were about $547,000, led by repairs and maintenance, water and sewer, and gas and electric. The association ran an operating deficit in both years — about $120,500 in fiscal 2023 and about $28,500 in fiscal 2024 — and ended fiscal 2024 with a members' deficit of about $29,000. Accounts payable of about $160,000 exceeded total assets. Cash on hand was about $88,000, of which about $61,000 sat in a reserve account opened that year. There is no association-level mortgage on the statements.
The auditor noted that the association has not commissioned a reserve study or adopted a funding plan for major repairs, and that the governing documents do not require reserves. The statements state that when major repairs arise, the association plans to borrow, raise common charges or defer the work.
What that means for a buyer. The 19 percent rise in common-charge revenue in fiscal 2024 suggests the board is already closing the gap, but the balance sheet leaves little room for a large repair. The building is now about seventeen years old. Its curtain wall and sealants, roof membrane, two elevators and garage are at the age when capital questions arise. Ask for the fiscal 2025 and 2026 statements, the current budget, any assessment history, and the board's plan for the payables.
Governance record. An amended declaration signed in April 2023 was recorded in February 2026. We have not reviewed its contents. Request it: a declaration amendment can change use restrictions, common-interest allocations or leasing rules.
Compliance. At about 46,500 gross square feet the building is over the 25,000-square-foot threshold for the city's energy benchmarking and emissions rules. Ask the managing agent to state the building's position in writing.
Policy framework
- Right of first refusal: The board may elect to buy or lease a unit on the offered terms within ten days of notice, under Article 8 of the by-laws. Notice of any accepted offer to sell or lease a residential or parking unit goes to the board with references.
- Leasing: Minimum lease term six months. Tenants complete the building's sublease form with a $150 non-refundable application fee. The board may refuse renewal to a tenant with repeated rule violations.
- Pets: Permitted for owners. Tenants need the board's prior written permission. Pets are barred from the gym and common room and must be leashed in common areas.
- Moves and work: Moves scheduled with the superintendent at least 24 hours ahead, weekdays 8 a.m. to 5 p.m.; a $500 deposit applies if the mover cannot supply an insurance certificate. Noisy construction weekdays 8 a.m. to 5 p.m. only.
- Working capital: Two months' common charges from each purchaser at closing, per the audited statements.
- Home offices: The plan notes that zoning permits up to 25 percent of a unit, capped at 500 square feet, to be used as a professional office.
These rules date from June 2014. Confirm the current version with the managing agent.
Recent sales
The Absolute trades as mid-size new-development product and should be benchmarked in dollars per square foot against Clinton Hill and Fort Greene condominiums of the same 2008–2012 generation, not against the neighborhood's prewar conversions or brownstone floor-throughs. Liquidity is steady: three sales recorded in the past two years. The one-bedroom-heavy mix means most comparables here are one-bedroom and smaller two-bedroom trades.
The distortion to correct for is tax. Sales from the full-exemption years embed a tax line that no longer exists; sales from the phase-down years embed a shrinking one. The right comparison is a full True Monthly Carrying Cost at current unabated taxes and current common charges. 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 28, 2026 | 3C | $1,250,000 |
| Apr 24, 2026 | P28 | $1,060,000 |
| Jun 6, 2025 | 5D | $1,225,000 |
| May 16, 2024 | P31 | $795,000 |
| Jan 22, 2024 | P12 | $805,000 |
| Jun 5, 2023 | 4A | $1,250,000 |
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 3-01894-7501) 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 $1.23M (3 sales since 2024), a buyer putting 25% down would pay about $54,002 to close, or 4.4% of the price.
- Mansion tax: $12,250
- Mortgage recording tax: $17,686
- Title insurance: $5,513
- Attorneys, lender, building fees, reserves and filings: $18,554
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 the full tax bill. The 421-a exemption ended after the 2024/25 tax year. Pull the current Department of Finance bill for the unit and any parking space.
Read the financials before you sign. Two years of deficits, payables above assets and no reserve study are the kind of facts a lender's condo questionnaire will surface. Ask whether an assessment or a further common-charge increase is planned.
Read the 2026 recorded amendment. Know what it changes.
Price the parking separately. Spaces are their own units with their own deeds, taxes and common charges.
Check the roof and amenity position. The 2014 house rules close the roof. If a listing advertises a roof deck, confirm current access in writing.
What to know if you’re selling
Price against unabated comparables. A list price set from abated-era sales invites a renegotiation after the buyer's attorney pulls the tax bill.
Get the association's paperwork in order. A current budget, the latest audit and a clear statement of the board's plan for reserves make the condo questionnaire and the buyer's lender review routine.
Lead with the design and the parking. A glass-fronted elevator building with a gym and a deeded garage space a block from Pratt has few direct competitors in Clinton Hill.
Comparable buildings
If you're considering The Absolute, also evaluate:
- 545 Washington Avenue — Isabella, a 63-unit 2011 Clinton Hill condominium whose 15-year 421-a also expired in 2025
- 500 Waverly Avenue — a 48-unit condominium at Fulton Street with a 25-year 421-a still running
- 315 Gates Avenue — a 72-unit 2009 amenity condominium in western Bedford-Stuyvesant, the same generation
- 450 Grand Avenue — a 39-residence condominium delivered 2023–24; the new-construction alternative
- 87 Irving Place — a 25-unit Clinton Hill condominium sold out in 2025
- 532 Clinton Avenue — a 14-unit boutique condominium with no abatement
- 320 Washington Avenue — The Graham, the 1851 landmark-district conversion with deeded parking; the prewar alternative
- 372 DeKalb Avenue — Clinton Mews, the converted factory co-op on the Pratt block; the tenure contrast
- 251 7th Street — The Argyle, a 60-unit 2009 Gowanus condominium of the same vintage
More Clinton Hill buildings
- 10 Quincy Street — 1899 condominium
- 110 Clifton Place — 1922 co-op
- 111 Vanderbilt Avenue (Vanderbilt-Wallabout Condominium) — 1991 condominium
- 185 Clinton Avenue (Clinton Hill Co-ops, North Campus) — 1944 co-op
- 185 Hall Street (Willoughby Walk) — 1958 co-op
- 195 Willoughby Avenue (Willoughby Walk) — 1958 co-op
The neighborhood
For the full neighborhood — its buildings, character, and market — read The Roebling Team Guide to Clinton Hill.
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 The Absolute?
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