225 Lincoln Place

Six stories of brick on a 12,994-square-foot lot, holding roughly 70,000 square feet of recorded gross floor area: a ratio near 5.4 against the 3.0 residential FAR of the block's current R7B contextual zoning. That simple comparison does not establish legal zoning floor area or what could be built on the block.

The 1985 Schedule A covered 51 apartments across 5,542 shares, weighted toward the one- and two-bedroom layouts that interwar Brooklyn apartment houses were built to sell, plus a basement apartment and a superintendent's unit outside the offering. Department of Finance now records 56 residential units. The most likely explanations are unit reconfigurations and differences in what each source counts, but the number is not something to take on faith: have your attorney confirm the apartment's shares, its maintenance allocation, and any combination or subdivision approvals in the corporate record. The building carries both a passenger and a service elevator — a useful practical difference from smaller district co-ops when it comes to moves and deliveries.

Windows are the alteration item to watch. They were part of what the tenants negotiated for in 1986, and any replacement program at this address runs through the Landmarks Preservation Commission as well as the Department of Buildings.

225 Lincoln Apts. Corp. has run the building since the June 1986 closing. The conversion budget projected a single, non-union superintendent with a rent-free apartment and free utilities, a leased coin laundry, and a first mortgage held by the Federal Home Loan Mortgage Corporation at 12.955 percent — a reminder of the rate environment every mid-1980s conversion was underwritten in. The corporation has since amended its plan more than two dozen times, and The Roebling Research Library holds financial statements running from the mid-1990s through the mid-2010s, which supports genuine trend work on maintenance growth, reserve behavior and assessment history.

Department of Finance records show a documented alteration on the property dated to 2020. Establish what that work was, how it was funded, and whether any assessment associated with it is still running — that is the first question to put to management, ahead of the routine ones about FISP/Local Law 11 façade cycles, roof, boiler and elevator modernization.

Day-to-day, the service model is modest and clearly written down: the rules separate repairs the corporation covers (leaky faucets, damaged windows, damaged apartment entrances) from repairs the shareholder covers (exposed plumbing and heating fixtures, appliances, water damage caused from above), and renovation work requires board approval, engineer review where anything structural is involved, insured contractors and a $500 good-faith deposit.

Subletting: Non-resident owners may sublease three years out of five, on one-year leases renewed at the board's discretion. The sublessee is interviewed and must supply two years of returns, employer and landlord references, one month's maintenance as security and proof of insurance. The sublessor pays the corporation 20 percent of the succeeding year's maintenance in the first year, 15 percent in the second and 20 percent in the third. House sitters are permitted with board approval for no more than two months and must be the apartment's only occupants.

Purchaser review: Full package — two years of returns, pay stubs, contract, loan application and commitment, employer, landlord and character references, résumés — plus an interview with everyone on the loan application. The rules also bar business use of the apartment.

Financing and refinancing: Loans secured by the shares may not exceed 75 percent of the most recent appraised value; home-equity borrowing and refinancing require board approval and an interview.

Flip tax: $60 per share under the by-law amendment adopted with the plan's Second Amendment; a percentage flip tax was subsequently adopted, raised to 4 percent, and reduced to 2.25 percent effective September 20, 2001. Confirm the rate in force.

Governance: The proprietary lease may be amended only by lessees owning at least 66⅔ percent of outstanding shares; consent to a sale or sublet may come from the board or from holders of at least 65 percent of shares. Smoking is prohibited in all public areas.

Recent sales

Recent transfers at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.

Market read. $/sf is measured on the latest sales with reliable square footage (2023): a median $952/sf (floor-adjusted) across 2 sales. The building has traded as recently as 2026. Median listing discount 0.0% from the last ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01059-0055). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage on co-ops is not officially recorded, figures shown are approximate.

Get the flip tax rate in writing before you set your number. The rate has moved — $60 per share, then a percentage, then 4 percent, then 2.25 percent in 2001. It is a seller cost that shapes the negotiation, and it cannot be mortgaged.

Confirm the pet rule. No new dogs since January 21, 1988, and no birds. If a dog is part of your household, this is a threshold question, not a detail.

Resolve the unit count and your share allocation. The plan offered 51 apartments; Finance records 56. Have your attorney tie the specific apartment to the current share ledger and maintenance schedule.

Ask what the 2020 alteration was. There is a documented alteration on the property in that year. Find out the scope, the cost, the funding and whether any assessment is still running.

Read the sublet economics, not just the sublet right. Three of five years is generous, but the sublet payments — 20, 15 and 20 percent of the following year's maintenance — change the arithmetic of holding the apartment as a rental.

Name the architects and the style. The LPC's file credits Caughey & Evans and records the building as Federal. Most six-story Park Slope prewars go to market unattributed; this one does not have to.

Lead with the sublet policy. Three years out of five, on written terms, is a genuine differentiator against neighboring co-ops with one-year-in-five rules or none at all. It reaches buyers who need optionality.

Disclose the flip tax early and precisely. Sophisticated buyers price it into the offer either way; ambiguity about the rate costs more than the rate does.

Comp against the block and the district's six-story tier. The right set is Lincoln Place and the surrounding blocks between Seventh and Eighth Avenues from 2025 forward — not the Plaza Street towers and not the brownstone floor-throughs.

If you're considering 225 Lincoln Place, also evaluate:

• 209 Lincoln Place — the ten-story 1928 co-op a few doors west on the same block, with its own parking lot; the height-and-view alternative
• 235 Lincoln Place — 1937 co-op on the same block; the later interwar peer at smaller scale
• 220 Berkeley Place — the 1955 postwar co-op one block south; postwar plan logic and a stricter pet rule
• 140 8th Avenue — the 1936 Art Deco co-op at Carroll Street; the district's largest interwar apartment house
• 814 Carroll Street — 1950 co-op at similar scale a few blocks south, inside the same district
• 50 Plaza Street East — 1925 twelve-story co-op on Grand Army Plaza; the same decade at greater height
• 39 Plaza Street West — 1927 co-op on the Plaza, inside the 2016 Extension II; a useful contrast in district status
• 420 12th Street (Ansonia Court) — the Ansonia Clock Factory conversion in the 2012 Extension; the loft-character alternative in Park Slope