118 Madison Street

The Department of Buildings permitted the enlargement in July 2022. The filing describes a horizontal and vertical enlargement of an existing four-story, 36-foot two-unit house into four apartments, adding about 2,479 square feet and taking zoning floor area from 2,996 to 5,475 square feet, at an estimated cost of $1.5 million. Separate structural, excavation-support, plumbing and mechanical filings were permitted in 2022, and a builder's pavement plan for the 20-foot frontage was permitted in July 2025.

Two figures in the record do not line up. The filing lists a proposed height of 74 feet while keeping four stories, and the Attorney General's database classes the plan as new construction rather than a rehabilitation. Confirm the building's height, floor count and certificate of occupancy status in the plan and with the sponsor.

The active listing for the penthouse describes a fourth-floor home of more than 1,500 square feet with three bedrooms and two full baths, an interior stair to a primary suite with its own terrace, and exclusive rights to a private roof of more than 800 square feet. Other listing records describe residence two as a two-bedroom, two-bath home with a private balcony. PLUTO records 5,449 square feet on the lot, which is zoned R7X with a C2-4 commercial overlay.

Per the offering plan filed with the New York State Attorney General (plan CD230243), the plan was submitted August 30, 2023 and accepted June 10, 2024 at a total offering price of $7,095,320, with 118 Madison LLC as sponsor. It covers four residential units. The record shows no effective date and no units sold. The Attorney General's online record returned no data when checked for this page, so these figures come from the database's summary export and any amendments were not reviewed.

Unit 4, the penthouse, was listed as active on October 30, 2026. The asking prices we found for units 3 and 4 appear only in search summaries and disagree with one another, so we have left them off this page; ask the sponsor's agent for current pricing and compare it with the plan price in Schedule A.

Accepted, not effective. The sponsor can sign contracts, but the plan must be declared effective before closings, and that requires a minimum number of signed contracts. A plan accepted in mid-2024 that is still not effective is a reason to ask how many contracts exist, when the sponsor expects to declare effectiveness, and whether the plan's deadline for doing so has been extended by amendment.

Certificate of occupancy. Ask whether a temporary or final certificate of occupancy has been issued for four units. Closings cannot happen without one.

Closing costs. In a sponsor sale the buyer customarily pays the New York State transfer tax (0.4%) and the New York City transfer tax (1.425% above $500,000), plus the mansion tax of 1% from $1 million. On a $1.5 million purchase, for illustration, that is about $27,400 in transfer taxes and $15,000 in mansion tax. Use the calculators below.

Not related to 174 Madison Street. The Belle Grove Condominium at 174 Madison Street, a short walk east on the same street, is a separate four-unit plan with a different sponsor entity. Public records reviewed for this page show no connection between them.

If you're considering 118 Madison Street, also look at these Bedford-Stuyvesant condominiums:

• 174 Madison Street — The Belle Grove, four new-construction residences that sold for $1.46 million to $1.68 million in 2025
• 56 Quincy Street — four-residence new building with deeds of $1.86 million to $2.21 million
• 253 Gates Avenue — Maison Hill, a house being enlarged into four residences
• 448 Park Avenue — six-residence new building on the western edge of the neighborhood
• 386 Kosciuszko Street — The Brick Lofts, a seven-residence new building