309 2nd Street (The Heritage at Park Slope)

The offering plan describes one building of four floors and a cellar on the north side of 2nd Street, with the parking entered from a curb cut about 226 feet east of Fourth Avenue. The street elevation carries a cast-stone cornice; the other elevations have metal coping.

Ground floor. Units 1A through 1E are one-bedroom duplexes with a private stair to a cellar room and a cellar bathroom, per Amendment 2. The plan finishes those cellar rooms in vinyl composition tile. Count the cellar space as what it is — below-grade flex and storage area — and do not price it as a bedroom. 1D and 1E have ground-level yards with lawn, which their owners maintain, plus smaller terraces.

Upper floors. Floors two through four hold the two-bedroom, two-bath lines, from about 940 to 1,190 square feet per the plan, and the one one-bedroom, 2B. Several upper units have private terraces of roughly 200 to 830 square feet; others have balconies of about 95 square feet. Unit 4B is a duplex spanning the third and fourth floors, which is why the third floor has no B line.

Roof. Private roof terraces and rooftop cabanas, divided by six-foot wood privacy screens, finished in concrete pavers on pedestals.

Unit areas and terrace areas in the plan and on the Department of Finance roll differ by small amounts for several lines. Confirm the area and the outdoor space for any specific unit against the declaration and floor plans.

The 421-a, with the years. Department of Finance code 5114 sits on all 32 lots. The benefit began in 2009/10, so 2026/27 is year 18. Under the 25-year schedule the exemption stays at 100 percent of the increase over the base through 2029/30, then steps down to 80 percent in 2030/31, 60 percent in 2031/32, 40 percent in 2032/33 and 20 percent in 2033/34. From July 1, 2034 owners pay full tax. The Department of Finance file does not state why this building received the 25-year term rather than a 15-year term; the portions of the plan reviewed do not explain it either. Ask for the unit's Notice of Property Value and model both the current bill and the 2034/35 bill.

Size and management. The Heritage is a small, professionally managed condominium with one passenger elevator and an accessibility lift, both current on DOB inspection records. The most recent budget and audited statements on file date from the 2014 amendment. They show a modest operating budget and a reserve in the tens of thousands of dollars, and the budget states that capital projects must be funded by special assessment or from reserves. Those figures are twelve years old. Ask the managing agent for the current budget, reserve balance and any assessments.

Sponsor-era rentals. The 2014 amendment reported that the sponsor was renting its last unsold residence pending sale. That residence has since closed; no sponsor inventory remains.

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 $1,696/sf (floor-adjusted) across 1 sale. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount -1.8% over ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-00969-7503; 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.

Underwrite two tax bills. Today's bill reflects the full 421-a. Model the 2034/35 full-tax bill too, and know where the step-down falls within your hold.

Treat the cellar as cellar. On the ground-floor duplexes, the lower level is below-grade flex space, not a legal bedroom.

Parking is a separate unit. The 11 spaces are their own tax lots with their own common charges and their own 421-a. Confirm whether the space you want conveys with the apartment.

Get current financials. The documents on file are from 2014. Request the current budget, the reserve balance, any special assessments and the board minutes.

Present the tax schedule. Buyers will ask about the 421-a. Give them the Department of Finance code, the 2009/10 start, and the 2030/31–2033/34 step-down; it answers the question before it is raised.

Measure the outdoor space. Terraces, yards and roof cabanas are the building's distinction. Use the plan's measurements and photograph them.

Describe the duplexes accurately. Market the cellar level as flex and storage space. An accurate description holds up through the buyer's diligence.

If you're considering The Heritage at Park Slope, also evaluate:

• 251 1st Street — 2015 condominium one block north at Fourth Avenue, on a 15-year 421-a; the newer, larger neighbor
• 155 15th Street — 21 residences and 11 garage units between Fourth and Fifth Avenues; the same scale on a 15-year 421-a in its final year
• 279 Prospect Avenue — 20 residences and 11 parking units on a 25-year 421-a now in its phase-out; the closest tax-structure comparison, a few years further along
• 251 7th Street — 2009 Fourth Avenue condominium whose 15-year 421-a has run out
• 243 4th Avenue — Fourth Avenue condominium with no 421-a; the full-tax benchmark
• 190 Garfield Place — conversion of a 1905 building in the historic district; the older-building alternative
• 444 12th Street — industrial loft conversion with parking; another adaptive-reuse condominium in the neighborhood