24 Dunham Place

The building rises five stories and 55 feet on a 74-by-88-foot lot, per the Department of Buildings filing. Gene Kaufman filed the new-building application in June 2004 under the South 6th Street address; an earlier application that spring was disapproved at plan exam. The sponsor then offered the building under the Dunham Place name.

The offering plan's Schedule A sets out a clear hierarchy. The three ground-floor residences (1A–1C) are about 1,000 to 1,150 square feet each, with a bath and a half and no separate bedroom in the plan's room count. 1A and 1C have private yards, which are limited common elements. Floors two and three each have four one-bedroom lines (A–D) of about 700 to 870 square feet. The 2A and 2D lines have terraces. The fourth floor has three two-bedroom residences of about 1,280 to 1,590 square feet, each with terrace space. These are the building's largest homes and account for nearly 28 percent of the common interest between them.

The commercial unit, about 1,600 square feet at grade, was the last unit the sponsor sold; it closed in February 2007. It has had one owner since.

The 421-a schedule, worked out from the Department of Finance record. The exemption is a 25-year, no-cap 421-a benefit with a 2008 benefit start. Under the 25-year schedule, the benefit stays at 100 percent for 21 years and then steps down 20 points a year for four years. The Department of Finance labels each tax year by the year it ends. Read that way, full exemption runs through 2027/28, the phase-out runs from 2028/29 to 2031/32, and full taxes begin with the 2032/33 tax year, starting July 1, 2032. This is our reading of the statute against the DOF record, not a DOF-published schedule. Have the buyer's attorney confirm it against the unit's exemption detail before pricing.

The plan anticipated the benefit. Schedule A of the offering plan projected every unit's taxes both with and without 421-a. The gap between the two columns was large. The phase-out will close that gap, and buyers should budget for it.

No regulatory agreement found. ACRIS indexes no declaration of restrictions or regulatory agreement against the unit lots. HPD's affordable-housing records show no income-restricted units here, and every residence sold to an unrelated buyer. Ask the managing agent or the condominium's counsel what the 25-year term rests on and whether any continuing obligation comes with it.

Budget. The plan's budget covered the first year of operation in 2006 and is no longer useful. Ask for the current operating budget, the reserve balance, and any capital work completed or planned. At twenty years old, the roof, façade sealants, terraces and parking-area waterproofing are the usual items to check.

Ownership form: Condominium. Resales close through the board of managers' right of first refusal rather than a cooperative board approval.

Parking: Seven separately deeded spaces with their own tax lots, common charges and taxes. Confirm in the contract whether a specific residence conveys with one.

Commercial unit: One ground-floor commercial unit with about 10 percent of the common interest, per the plan. Ask the managing agent how its common charges and any use restrictions are handled.

Pets, subletting, pied-à-terre and entity purchases: Not documented in the records reviewed. Confirm each in the by-laws and house rules.

Flip tax: Not documented. Confirm any resale contribution with the managing agent.

Recent sales

Recent closings 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. Most recent trades (2025) cleared a median $1,495/sf (recorded) across 1 sale. Median listing discount 0.0% from the last ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-02469-7501; each condominium apartment is its own tax lot). 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 from recorded condo declarations and offering plans.

Model the tax step-up year by year. The phase-out starts in 2028/29, and full taxes arrive in 2032/33. Run carrying costs across your expected hold, not just year one.

Count 14, not 22. The common-charge base is 14 residences plus a commercial unit and seven parking spaces. Ask how common interest is split among them.

Confirm the parking in writing. The spaces are separate deeded units, and some have already been sold apart from their original apartments.

Ask about the commercial unit. Its owner carries about a tenth of the common interest. Confirm it is current on common charges.

Request the current budget and reserves. The plan's 2006 budget is not a guide to today's costs.

Show the tax schedule up front. Buyers' attorneys will find the phase-out. A True Monthly Carrying Cost projection that shows it is stronger than letting it come up in diligence.

Price the parking separately. If your sale includes a space, price it and document it as its own unit.

Lead with the unit's outdoor space and position. In a 14-residence building, the yards on 1A and 1C, the terraces on the A and D lines, and the fourth-floor two-bedrooms are the attributes that set one resale apart from another.

If you're considering 24 Dunham Place, also evaluate:

• Bridgeview Towers (26 Broadway) — a mid-2000s condominium a few blocks away with its own 25-year 421-a exemption and deeded parking; the closest peer on tax structure
• 46 South 2nd Street — 23-residence Southside condominium of 2010–11 with a later 25-year 421-a; the next-generation comparison
• Schaefer Landing North (440 Kent Avenue) — Gene Kaufman's larger waterfront condominium of the same period
• Lofts1 (242 South 1st Street) — 23-residence Southside loft conversion of the same period; the character alternative
• 136 Powers Street — 20-residence condominium completed 2007 with a 25-year 421-a; the small-building tax peer
• 1 Powers Street — 31-residence condominium with a 25-year 421-a running into the 2030s
• 138 Broadway — 40-loft conversion on Broadway; the prewar alternative on the same corridor
• The Oosten (429 Kent Avenue) — the large, fully amenitized South Williamsburg condominium; the scale comparison