The Mill, 376 President Street

Apartment lines in ACRIS run from the first floor through the fourth. The second floor is the widest, with lines running to 2P. The three townhouse units, T1 to T3, were built out of the former one-story warehouse. Per the plan, each townhouse has its own washer and dryer and does not use the building's trash compactor. DOB filings over the years describe mezzanine decks, duplex apartments and several combinations, so layouts vary widely from line to line. Walk the specific apartment.

PLUTO carries a 19,100-square-foot lot with an irregular frontage. The by-laws describe about 12,100 square feet of land. The building totals about 67,800 square feet, including about 13,000 square feet in the garage unit. Treat the city's lot dimensions as approximate.

The plan provided individually metered gas service to each apartment. The garage unit is metered separately for water.

Capital work on file with DOB. Façade restoration in 2008. Exterior renovations in 2014. Roof replacement in 2015. Replacement of the front door and steps in 2012. Replacement of the roof decking in 2006. A 2014 job replaced the fire-rated construction between the gas meter room and the lobby. The recorded four-story building should not be assumed subject to FISP/Local Law 11, which generally applies above six stories. Confirm applicability, the last completed roof and façade work, current condition reports and reserves.

Tax history. The plan's projected budget assumed J-51 benefits for the conversion. The city's J-51 records show an abatement on every residential unit starting in 1989/90. The historical records carry 12-year and later 14-year term entries, and a second, smaller benefit beginning in 2006 has a 14-year entry. Reconcile those exemption terms with each award's separate abatement amount and schedule rather than using them as the credit's deadline. No J-51 exemption appears in the reviewed 2020/21–2026/27 roll; the current unit bill is needed to determine any abatement credit.

Garage. The condominium bought the garage unit through an intermediate buyer in 1993–94 and took out a mortgage on it in 1995, which was satisfied in 2005, per ACRIS. How the garage is run today, who may rent a space and what it earns are questions for the managing agent. The answers affect the common charges.

Neighbor. ACRIS records a 2013 easement from the developer of 345 Carroll Street, the condominium on the Carroll Street side of the block, to President Street Condominium. Ask for a copy and what it covers.

• Right of first refusal: The board has a right of first refusal on every sale at the contract price. Per its written purchase procedures, it routinely waives it. The waiver is signed and held until closing.
• Buyer review: Buyers may review two years of board minutes and the audited financial statements, and must read and sign an affirmation of the declaration, by-laws, owners' handbook and house rules.
• Occupancy and use: An apartment may be used as a professional office only with the Residential Board's prior written approval, and that approval does not carry over to a new owner. Part of an apartment may not be sold or leased separately.
• Moves: The building has written move-in and move-out procedures.
• Pets, minimum lease terms, move and transfer fees: Not documented in the materials on file. The board's unit-transfer form asks about pets, so ask for the current pet policy in writing.

Recent sales

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-00444-7501; 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.

Confirm what the unit is on paper. Combinations and mezzanines are common here. Check that the tax lot, the square footage in the declaration and the DOB record all match the apartment you are buying.

Ask about the garage and the reserve. The condominium owns a 35-car garage. Its income and costs flow into the budget, and it is a capital item in its own right.

Check the current tax bill and benefit schedule. The reviewed roll shows no J-51 exemption; establish any separate abatement credit and its remaining term from the award and bill.

Lead with the building's history. A heavy-timber factory building, converted in 1988 with mezzanines and townhouse units, is the reason to choose this building over a newer one nearby. Say so in the listing.

Get the ROFR waiver and common-charge letter moving early. The board's procedures are written down and routine. Follow them from contract signing and the closing will not wait on paperwork.

If you're considering The Mill, also evaluate:

• 345 Carroll Street: the 2015 low-rise condominium on the Carroll Street side of the same block
• Court Street Lofts (505 Court Street): a Carroll Gardens condominium converted from a 1918 industrial building
• 358 Court Street: a Carroll Gardens condominium converted from a church complex
• 450 Clinton Street: a 1986 church conversion in Carroll Gardens, held as a co-op
• 11 Sterling Place (Sterling Court): a 1986 condominium conversion of a prewar industrial building in Park Slope
• 270 Fifth Street (The Milk Factory): an industrial-to-residential loft conversion in Park Slope
• 444 12th Street (Ansonia Muse): an industrial loft conversion held as a condominium
• 443 12th Street (Ansonia Storage Warehouse): a warehouse loft conversion held as a co-op, for buyers weighing tenure