280 Metropolitan Avenue

The residences run in six lines, A through F, on floors 2 through 5, with four penthouses on the sixth floor. The mix ranges from studios to a three-bedroom penthouse, per listing records. The architect describes American walnut floors and cabinetry and white marble counters and tile. Sponsor pricing in ACRIS and the Department of Finance assessments both single out the same eight residences as the largest-value units: the C line (2C through 5C), 2D, 5D, and penthouses C and D.

Each south-facing apartment has a balcony shaded by an aluminum brise-soleil (a fixed sun screen), with planters and mesh meant to carry vertical gardens. Listing records describe gas grills on many private outdoor spaces. The house rules allow barbecuing only where the board designates it, so confirm the rule for the specific terrace.

Parking is deeded. Thirteen spaces are available to 28 residences, and each is its own unit with its own deed and tax bill. At the sponsor sale, one penthouse conveyed with two.

The house rules make owners responsible for maintaining the heating, hot water and air-conditioning equipment in their own units. Any new ventilator or air-conditioning device needs the board's written approval. The building has a superintendent with a dedicated parking space.

The retail unit is a separate owner with its own obligations under the house rules: private carting, sidewalk cleaning, snow removal and signage at its own cost. Ask how common charges are split between the retail unit and the residences, and for the current budget and reserve position. We have no financial statements on file for this building.

The rules also restrict construction to weekdays from 8 a.m. to 5 p.m. and limit smoking to inside units and their private balconies and terraces.

Department of Finance records show a 15-year 421-a exemption with a cap on every residence and parking unit (code 5118, "421A 15 YR CAP"). 421-a is the state program that exempted the added value of new construction from property tax for a fixed term. This is the pre-2016 program, not the 421-a(16) Affordable New York program; the building was filed in 2013. The benefit started in 2017/18.

The cap is what buyers miss. The exemption covers each unit's added value only up to a fixed ceiling. On the 2026/27 roll, 19 of the 28 residences fall under it and are fully exempt on their new value. The eight highest-assessed residences, the C line (2C through 5C), 2D, 5D, PHC and PHD, exceed it, and their exemption covers only about half to three-quarters of their added value. Their tax bills are already well above those of the smaller units, by far more than the difference in assessed value. The parking units carry a partial exemption and the retail unit none.

On the standard schedule for a 15-year 421-a benefit, the exemption stays at its full rate through 2027/28, then steps down to 80, 60, 40 and 20 percent, and ends after June 30, 2032. Every owner's taxable value rises in each of those years. Buyers holding for more than two years should underwrite each step, not the current bill. Confirm the schedule against the unit's current Department of Finance notice.

Recent sales

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-02367-7501) 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.

Pull the unit's own tax record. Under the cap, two units of different size in the same building have very different exemptions. Do not apply one unit's tax figure to another.

Model the step-down. The benefit begins to shrink in July 2028 and is gone after June 2032.

Read the overnight-occupancy rule if this is a second home. Guests cannot stay in the apartment when you are not there. Ask the managing agent how the board enforces the rule.

Price parking separately. There are 13 spaces for 28 residences.

Get the offering plan and any amendments. We have the house rules and the power of attorney but not the full plan, which sets the common interests, the retail unit's rights and any leasing rules.

Lead with the design and the south light. The architecture and the low-rise, landmarked outlook toward Fillmore Place set the building apart on Metropolitan Avenue.

Present the tax position honestly. Show the buyer the current bill and the step-down schedule together. On a capped large unit, explain why the bill is higher than a smaller neighbor's.

Sell the parking space with the apartment if you have one.

If you're considering 280 Metropolitan Avenue, also evaluate:

• 14 Hope Street — a 23-residence condominium two blocks south, between Roebling and Havemeyer Streets, with a garage and a 25-year 421-a benefit running into the 2030s
• 147 Hope Street — a 38-residence condominium of similar vintage with underground parking and no abatement
• 215 North 10th Street (NX) — Morris Adjmi's 31-residence condominium at Roebling Street over a commercial base
• 110 North 1st Street — a 38-residence Northside condominium with parking and storage lots
• 338 Berry Street (The Williamsberry) — a Southside loft conversion, the prewar alternative
• 50 Greenpoint Avenue — a 2016 condominium of similar size in Greenpoint
• 144 North 8th Street — a Northside condominium whose 421-a has run out; the fully taxed comparison