408 St Johns Place
408 St Johns Place, Brooklyn, NY 11238
Prospect Heights, Brooklyn
BBL 3011760032 · BIN 3029524
- Year built
- 1924
- Type
- Cooperative
- Units
- 35
- Floors
- 6
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Subletting by shareholders
- Not permitted
- Pets
- Pets permitted; species and limits not stated
Every recorded sale at this building, 2004–2026
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 1BR median, 2023
- $675K
- 3 qualifying sales
- Recent range
- $640K – $1.5M
- Listing discount
- 0.0%
- Recorded transfers
- 56
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 408 St Johns Place 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.
408 St Johns Place is a six-story 1924 elevator building on the St Johns Place block between Underhill and Washington Avenues. Its underwriting depends on its conversion history, and that history is unusually long.
The original offering plan is dated June 15, 1987. The sponsor, 408 St. John's Associates, deeded the building to the corporation in March 1988. By late 1991 the sponsor was out of the picture. Per financial notes attached to a later amendment, it conveyed 12 unsold apartments to an entity formed by the resident shareholders, in exchange for a release from its obligations to the corporation, and the rest of its apartments went to the bank that held the loan on them. In the mid-1990s a later holder of ten apartments fell behind on maintenance, and in March 1997 the corporation foreclosed on those apartments.
The current holder of unsold shares, 408 St. Johns LLC, appears in the plan amendments by 2000. It has been selling apartments ever since. ACRIS shows sponsor sales in 2012, 2014, 2019, 2021 and 2022, and its Nineteenth and Twentieth Amendments (2019 and 2020) set new prices on apartments it still held. At the end of 2019 it owned six of the 35 shareholder apartments. It has sold two since, so the remaining block is probably around four. That is a minority position, but it is still the first question a lender will ask.
The building's finances are small and plain. In 2019 real estate taxes were close to half of total spending, the underlying mortgage was under $1 million, and the corporation had not commissioned a reserve study. None of that is unusual for a 35-apartment Brooklyn co-op. It does mean a large repair gets paid for with an assessment or a loan, and the building has done that recently.
Architecture and unit composition
The building is six stories of brick on an 87.5-foot frontage, 82 feet deep per PLUTO, with a rear yard. Apartment lines in ACRIS run A through F. The corporation's own count is 35 shareholder apartments. Since 2011 there has also been a corporation-owned basement apartment, converted from basement space and rented out. It brought in $2,800 a month in 2019.
The next-door building at 418 St Johns Place is also a 1924 six-story elevator co-op of about the same size, and the two look alike from the street. They were converted separately, under separate plans (408 in 1987–88, 418 in 1989), and they have separate corporations, mortgages and house rules. The facts on this page belong to 408 only.
DOB filings show the sponsor renovating its own apartments before resale: 4A in 2018, 5C in 2019 and 5E in 2020.
Building operations
Heating plant. A 2007 DOB filing replaced the oil burner on the existing low-pressure boiler with a dual-fuel gas/oil burner and brought in new gas service. In 2020 the corporation filed for a 21.45-kilowatt solar array on the roof.
Façade. DOB records sidewalk sheds for remedial work in 2013 and 2017. Ask for the current Local Law 11 façade filing status and whether any work is open.
Underlying mortgage. The corporation refinanced in April 2014. Per the audited statements, the $1,050,000 loan carried 3.5 percent for the first seven years, a 12-year term and 30-year amortization. In December 2020 ACRIS records a consolidation with the successor lender at $1.25 million, including about $340,600 of new money. The 2020 loan's rate and maturity are not on file. Request them, because the answer determines whether a refinancing is coming up soon.
Assessments. In November 2016 the board approved an assessment equal to one month's maintenance, billed each April from 2017 through 2020. Per the documents on file it has run its course. Ask whether anything has been levied since.
Finances. The audited statements for 2019 show about $449,000 of income against about $422,000 of operating costs before depreciation. Maintenance was about $367,000 of that income, and real estate taxes were about $205,000. Cash at year-end was about $127,000. The auditors noted that the corporation has no study of future major repairs. Ask for the 2023 through 2025 statements and the current budget.
Tax abatements. The 1987 plan budgeted for J-51 benefits from the sponsor's work. The city's J-51 records show an abatement starting in 1989/90 on $71,700 of certified cost. It ended in 1999/2000 when that amount was used up. The current Department of Finance exemption roll shows no benefit on this lot. The co-op/condo abatement for primary residents is handled at the corporation level. Per the audited statements, the board "assesses back" the part of the abatement that belongs to ineligible shares, most of which are the sponsor's.
Policy framework
- Subletting: Barred for the first 24 months of ownership. After that it is allowed with board approval, which the board may grant or refuse and may condition. Approved sublets carry a $75 monthly fee, and unauthorized sublets are charged $500 a month, per the house rules on file.
- Roof: Residents may not go on the roof, and nothing may be placed on it.
- Floors: 80 percent of each room, except kitchens, bathrooms, closets and foyers, must be carpeted or similarly soundproofed unless the board authorizes otherwise.
- Moves and work hours: Moves on weekdays from 9 a.m. to 5 p.m. only, with 72 hours' notice and a $125 deposit. Noisy work is limited to 8:30 a.m. to 5 p.m.
- Pets: The house rules require pets to be leashed or carried in common areas. They do not state whether pets are allowed or how many. Confirm the policy.
- Pied-à-terre, co-purchasing, guarantors, trust/LLC purchases, financing ceiling, flip tax: Not documented in the materials on file. These must come from the managing agent.
Sublet and pied-à-terre policy
A condominium owner leasing a unit and a co-op shareholder subletting are different rules, and a building-wide rule is different from a restriction on one apartment. This is the building's rule; confirm it for the specific apartment.
- Subletting by shareholders
- Not permittedSource: The Roebling Team's building profile
- Pied-à-terre ownership
- Not verified
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Own an apartment here? Request an apartment-specific pricing review.
Pets and in-unit washer/dryer
- Pets
- Pets permitted; species and limits not statedSource: The Roebling Team's building profile
- In-unit washer/dryer
- Not verified
Considering an apartment here? Send Corey the listing to confirm the pet and washer/dryer rules for that apartment.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $6,662/yr
- Per unit / month range
- $0 – $15
- Modeled exposure split equally across 36 units (the residential count on the city's lot record). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City data last refreshed October 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Recent sales
408 St Johns Place trades in the Prospect Heights prewar co-op market. Apartments there are priced per room, and six-story elevator buildings between Underhill and Washington compete with the Eastern Parkway co-ops a block south and with the buildings around Grand Army Plaza. ACRIS shows steady resale share transfers since 2004 across the building's lines, alongside the holder of unsold shares' sales. Two resales have closed in the last 24 months. Within the building, price turns on floor, exposure, room count and whether the apartment was one of the renovated sponsor units. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
Recent transfers 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.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Dec 18, 2024 | 4D | 3 BR · 2 BA | $1,400,000 | +0.0% | |
| Jul 17, 2023 | 5F | 1 BR · 1 BA | $640,000 | -0.8% | |
| Jul 4, 2023 | 4F | 1 BR · 1 BA | $699,000 | +0.0% | |
| Jun 2, 2023 | 1F | 1 BR · 1 BA | $675,000 | +0.0% | |
| Feb 10, 2023 | 4A | 3 BR · 2 BA | $1,480,000 | +2.1% | |
| May 16, 2022 | 3A | 2 BR · 1 BA | $968,000 | +7.7% | |
| Apr 26, 2022 | 5E | 2 BR · 2 BA · 900 sf | $807,370 | $897/sf | -5.0% |
| Dec 13, 2021 | 2F | 1 BR · 1 BA | $610,000 | +0.0% |
Market read. $/sf is measured on the latest sales with reliable square footage (2022): a median $873/sf (floor-adjusted) across 1 sale. The building has traded as recently as 2026. Median listing discount 0.7% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
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 3-01176-0032). 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 on co-ops is not officially recorded, figures shown are approximate.
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What to know if you’re buying
Pin down the sponsor's current holdings. Six apartments at the end of 2019 and two sold since suggests about four remain. Get the exact number, whether those apartments are leased and at what rents, whether the holder is current on maintenance, and how many board seats it holds. The last disclosure on file (2000) said the holder did not control the board.
Get the 2020 loan terms. The amount is on record. The rate, maturity and any balloon payment are not.
Ask how the basement rental apartment is treated. It is income to the corporation. Confirm it is legal, leased and carried in the budget.
Expect a standard board package and interview. Financing limits, pied-à-terre use and any flip tax are not documented here, so get them in writing before you sign a contract.
What to know if you’re selling
Put the building answers in the package. Lenders will ask about the sponsor block, the 2020 refinancing and the completed 2017–2020 assessment. Supplying them up front shortens underwriting.
Explain the corporate history plainly. Buyers who read old amendments will see the 1991 sponsor exit and the 1997 foreclosure. Both are long resolved, and it helps to say so before a buyer's attorney raises them.
Price against six-story elevator peers. The right comparables are prewar elevator co-ops of similar size nearby, starting with the building next door.
Comparable buildings
If you're considering 408 St Johns Place, also evaluate:
- 418 St Johns Place: the 1924 six-story elevator co-op next door. A separate corporation, converted under its own 1989 plan
- 375 Lincoln Place: a 1921 four-story co-op on the Lincoln Place side of the same block
- 295 St Johns Place (The Mews at Grand Army Plaza): a 1923 six-story co-op on St Johns Place toward the plaza
- 125 Eastern Parkway (The Theodore Roosevelt): a 1923 six-story co-op one block south
- 175 Eastern Parkway: a 1922 parkway co-op at the Washington Avenue end
- 135 Eastern Parkway (Turner Towers): the larger prewar parkway alternative
- 225 Park Place: an elevator co-op inside the Prospect Heights Historic District, for buyers who want a landmarked block
- 230 Park Place: a 1937 Art Deco elevator co-op in the district
More Prospect Heights buildings
- 375 Lincoln Place — 1921 co-op
- 382 Prospect Place — 1931 co-op
- 394 Lincoln Place — 1917 co-op
- 41 Eastern Parkway — 1926 co-op
- 418 St Johns Place — 1924 co-op
- 427 St. John's Place — 1912 condominium
The neighborhood
For the full neighborhood — its buildings, character, and market — read The Roebling Team Guide to Prospect Heights.
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
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.
Considering a move at 408 St Johns Place?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
646.939.7375 · c.cohen@compass.com