434 Marcy Avenue
434 Marcy Avenue, Brooklyn, NY 11206
BBL 3022647515 · BIN 3388750
- Year built
- 2005
- Type
- Condominium
- Units
- 20
- Floors
- 434
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 434 Marcy Avenue 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.
South Williamsburg has a large supply of mid-2000s condominiums, many of them small buildings clustered on the same streets. Block 2264 alone carries more than twenty condominium billing lots. That is why this building is easy to misidentify. It is one of several Garden Estates-named condominiums on the block, the address on the corner differs from the address on the tax roll, and the condominium includes a second building down the avenue. The billing lot, 3-02264-7515, is the reliable identifier.
The second point is size. These are large apartments by any Brooklyn standard: every unit at 434 Marcy / 298 Wallabout is at least about 1,380 square feet on the DOF roll, and most are 1,686 or 1,840. With two apartments per floor there is little variation within the building, and the building contains no small units.
The third point is that the gate questions are settled. Garden Holdings, LLC sold all 20 apartments between September 2006 and October 2007, each to a separate buyer, and the unit lots have stayed in separate hands since. There is no sponsor inventory, no rental block and no retained commercial space. This is a mature, fully sold condominium, nearly 20 years into owner control.
Architecture and unit composition
Two buildings designed by Karl Fischer, filed on the same day in 2002 and completed together in 2006. The corner building rises seven stories with two apartments per floor. On floors two through six the A line is about 1,686 square feet and the B line about 1,840. On the ground floor, 1A (the unit carried as 434 Marcy Avenue) is about 1,686 and 1B about 1,631. The top floor is slightly smaller: 7A at about 1,436 and 7B at about 1,380. The 442 Marcy building stacks one apartment per floor, about 1,456 square feet on floors two through six and about 1,246 on the first.
Bedroom counts, exposures and outdoor space are not documented in the records reviewed and should be read from the floor plans. A 2009 Department of Buildings alteration filing for a parking space and curb cut at the corner building shows a permit issued but no sign-off. The building has no deeded parking.
A PLUTO note. PLUTO gives the billing lot an irregular area of about 5,400 square feet but credits it with about 32,300 square feet of floor area across two buildings. That implies a floor area ratio near 6, well above anything R7-1 allows. PLUTO's lot dimensions here should not be relied on; use the tax map and the survey.
Building operations
The 421-a has run off completely. The Department of Finance exemption file shows a 15-year 421-a exemption (code 5113) on all 20 unit lots, with benefits starting in fiscal 2008 from a 2002 base year. The step-down is visible in the file: the exempt amount on each unit roughly halved between the fiscal 2021 and fiscal 2022 rolls, and it is zero from fiscal 2023 onward. Owners have paid full Class 2 taxes for several years, and the fiscal 2027 roll shows no exemption of any kind.
At the fiscal 2027 assessments and a Class 2 rate of roughly 12.5 percent, that works out to about $10,000 to $15,000 a year at 434 Marcy / 298 Wallabout and about $17,000 to $19,000 at 442 Marcy, whose units are assessed higher despite being smaller. These are our estimates from the roll, not bills. The gap between the two buildings is worth asking the Department of Finance or a tax certiorari attorney about.
Operating detail — staffing, the budget, reserves, any assessments, and the capital record of a 20-year-old building — is not documented in the records reviewed. On a building of this age, ask specifically about roof, facade and mechanical replacement cycles.
Buying here? Condo closing costs with a mortgage typically run 3 to 6% of the price. See NYC co-op and condo closing costs, line by line.
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What to know if you’re buying
Identify the lot, not the name. Several condominiums on this block share the Garden Estates name, and this one spans two addresses and two buildings. Your contract, title report and lender file should all carry billing lot 7515 and the specific unit lot.
The tax number is final. The abatement has already expired, so the current bill is the long-run bill, subject only to assessment changes.
Get the documents from the managing agent. No offering plan was located. Pets, leasing rules, any resale contribution, the budget and reserves all have to come from the managing agent and the governing documents.
Confirm the certificate of occupancy. The digitized record does not include it. Your attorney should pull it.
What to know if you’re selling
Sell the square footage. Apartments of 1,600 to 1,800 square feet are rare in Brooklyn condominium resale inventory. The floor plan is the listing.
Present the tax bill plainly. Buyers comparing against abated buildings will ask. A fully expired 421-a leaves nothing to explain and no step-up ahead.
Comparable buildings
- 330 Wallabout Street: a 40-unit condominium on the next block east on Wallabout Street, with large-format apartments and no tax abatement; the new-construction alternative
- 342 Wallabout Street: its neighbor on the same block, still in sponsor sell-out, with apartments of about 1,276 to 1,709 square feet
- 429 Kent Avenue (The Oosten): a larger South Williamsburg condominium with large apartments and townhouses
- 440 Kent Avenue (Schaefer Landing North): the established South Williamsburg waterfront alternative of the same era
- 480 Kent Avenue (One Williamsburg Wharf): South Williamsburg new development inside a multi-building master plan
- 20 Bayard Street (The Bayard Views): a Karl Fischer condominium whose 15-year 421-a reached zero on the fiscal 2025 roll; the same tax position, a few years later
- 415 Leonard Street: a seven-story Williamsburg condominium with an expired 421-a; the same tax position in a different part of the neighborhood
More Williamsburg buildings
- 342 Wallabout Street — 2022 condominium
- 415 Leonard Street — 2008 condominium
- 42–52 Broadway, Brooklyn — 2001 condominium
- 441 Marcy Avenue — 2008 condominium
- 446 Marcy Avenue — 2011 condominium
- 46 South 2nd Street — 2011 condominium
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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