342 Wallabout Street
342 Wallabout Street, Brooklyn, NY 11206
BBL 3022657502 · BIN 3428985
- Year built
- 2022
- Type
- Condominium
- Units
- 47
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 342 Wallabout Street would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
Of the Wallabout Street condominiums, 342 has the most apartments offered for sale, and the public record shows plainly where its sell-out stands.
Wallabout Realty Corp., the sponsor entity, closed on 27 of the 47 apartments between late December 2024 and September 2025. Every one of those deeds runs to a separate buyer, individuals or single-purpose LLCs, and nearly all of them were financed with ordinary residential mortgages. This is a real for-sale condominium, not a rental building registered as a condominium. After the September 2025 closings, though, no further sponsor sale of an apartment appears in ACRIS through the latest recordings available (August 2026). Twenty apartments remain unsold, weighted toward the top of the building: the sponsor still holds nine of the ten eighth-floor apartments, three on the seventh floor and eight on floors four through six. The count of 30 sponsor transfers in two years, which suggested a nearly sold-out building, includes two of the rental units and one commercial unit. It is not an apartment count.
That shapes the buyer's position. A sponsor holding about 43 percent of the apartments, most of the parking and the larger commercial space controls the building's votes and much of its common-charge base, and it can price its remaining units in ways that set resale comparables. The sponsor's inventory is also financed. The recorded mortgages on the unsold units run to a trustee acting for bondholders, and each closing needs a partial release. That is routine and is handled at the closing table, but it means each sale depends on the lender's release as well as on the buyer.
The building is also something other than a simple apartment house. Within one condominium it holds 47 for-sale apartments, three rental blocks totalling 13 apartments (two of them already sold to separate investor entities), a garage and two commercial units. HPD's affordable-housing production records place the master plan's affordable rental component at 352 Wallabout Street, the neighbouring building, and record none at 342. That fits the city record here, though only the offering plan can settle it.
Architecture and unit composition
Nine stories over a commercial and parking base, designed by Fischer + Makooi Architects, who drew all four Wallabout Street buildings. The residential stack starts small and widens as it rises. The third floor has just two apartments (E and F), the fourth has five, and the fifth through eighth floors each hold ten, lettered A through J. The three rental units take up the rest of the lower residential floors. Press coverage of one of their sales placed that unit on the third and fourth floors.
The unit mix is family-sized throughout. The E and B lines are about 1,276 square feet, the A and F lines about 1,527, the C and D lines about 1,547, and the G, H, I and J lines between about 1,673 and 1,709. With a spread that narrow, pricing within the building depends mostly on floor, exposure and outdoor space rather than size. Balcony and terrace allocations are set by the declaration and should be confirmed unit by unit.
Building operations
There is no real-estate tax exemption on any lot in this condominium, and that is the most important carrying-cost fact. The Department of Finance exemption file shows no 421-a or other benefit on block 2265. A buyer pays full Class 2 taxes from the first bill. At the 2026/27 assessments and a Class 2 rate of roughly 12.5 percent, that works out to about $15,000 a year for a 1,276-square-foot apartment and about $20,000 for a 1,709-square-foot one. That is our estimate from the roll, not a bill. Assessments on new condominiums tend to rise as sales establish values. Check the current bill for the specific unit.
The building still operates under a temporary certificate of occupancy, renewed repeatedly since September 2024. That is common for a building in sell-out, but lenders and title companies will want to see it current at closing. The sponsor's affiliate owns the garage and the larger commercial unit, so how parking is allocated, whether by deeded space, license or rental, is a question to ask the sponsor and to check in the plan. The second commercial unit sold in March 2026 to an unrelated owner, and its intended use is not documented.
Recent sales
Sponsor pricing here has tracked unit size and floor more than anything else, with the lower-floor E and B lines at the entry point and the upper-floor H and I lines at the top. So far every closing has been a first sale from the sponsor. There is no resale history yet to test those prices, and until the remaining 20 apartments are sold, resale buyers will be competing with sponsor inventory in the same building and on the same block. Across South Williamsburg's newer condominium supply, full-tax buildings of this generation trade against the abated inventory of the 2008–2016 cohort, and the difference in tax bills is part of how buyers compare them. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
Recent closings at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| Mar 31, 2026 | C2 | $7,229,250 |
| Sep 19, 2025 | 6I | $1,750,000 |
| Sep 8, 2025 | 5D | $1,620,000 |
| Sep 8, 2025 | 5G | $1,775,000 |
| Aug 20, 2025 | 7C | $1,525,000 |
| Aug 21, 2025 | 8B | $1,200,000 |
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 3-02265-7502) 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.
At the recent median sale of $1.55M (31 sales since 2024), a buyer putting 25% down would pay about $65,796 to close, or 4.2% of the price.
- Mansion tax: $15,500
- Mortgage recording tax: $22,378
- Title insurance: $6,975
- Attorneys, lender, building fees, reserves and filings: $20,943
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
You are buying alongside a sponsor that still controls the building. With 20 of 47 apartments unsold plus the garage and main commercial unit, the sponsor will hold board control and a large share of the budget for some time. Ask for the sponsor's current unsold-unit schedule, its common-charge payment status and the date by which control of the board passes to purchasers.
Underwrite full taxes from the start. There is no abatement to burn off, which makes the carrying cost simpler to model and higher than at older abated buildings nearby.
Read the plan for the rental units. Thirteen of the 60 dwelling units are rentals owned outside the for-sale apartment pool. Their share of common charges, their voting weight and any restrictions on them all belong in the diligence file.
Confirm the certificate of occupancy and the lien release. Check that the temporary certificate is current and that the bond trustee's partial release is ordered for your unit.
What to know if you’re selling
Your competition is the sponsor. Twenty unsold apartments in the same lines set the price a resale buyer sees first. Price against the sponsor's current asking prices for the same line, not against the 2025 closings.
Sell the size. Almost no new condominium product in Williamsburg offers four-figure square footage in every line. Floor plans are the building's strongest material.
Comparable buildings
- 330 Wallabout Street: the neighbouring condominium on the same block, same developer and architect, larger apartments, and also without abatement
- 147 Hope Street: a 38-residence Williamsburg condominium without tax abatement; the full-tax comparison
- 127 Kent Avenue: a 2025–26 Williamsburg delivery in mid-sellout; the other current sponsor-inventory case
- 480 Kent Avenue (One Williamsburg Wharf): South Williamsburg new development inside a multi-building master plan
- 429 Kent Avenue (The Oosten): a larger South Williamsburg condominium with family-sized apartments and townhouses
- 440 Kent Avenue (Schaefer Landing North): the established South Williamsburg waterfront alternative
- 28 Herbert Street: another 2025 delivery; a small-building contrast on sponsor exposure
More Williamsburg buildings
- 330 Wythe Avenue (The Esquire Building) — 1914 condominium
- 338 Berry Street (The Williamsberry) — 1914 condominium
- 34 South 9th Street — 2015 condominium
- 415 Leonard Street — 2008 condominium
- 42–52 Broadway, Brooklyn — 2001 condominium
- 434 Marcy Avenue — 2005 condominium by Karl Fischer Architects
The neighborhood
For the full neighborhood — its buildings, character, and market — read The Roebling Team Guide to Williamsburg.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
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