46 South 2nd Street
46 South 2nd Street, Brooklyn, NY 11249
BBL 3024157502 · BIN 3396512
- Year built
- 2011
- Type
- Condominium
- Units
- 23
- Floors
- 4
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 46 South 2nd 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.
46 South 2nd Street is a four-story, 23-residence condominium one block from the Domino waterfront. It is a small building on a wide lot. The permit was filed at the end of 2006 and the building sold out in 2011–12, so it spans two eras. It was designed and permitted in the pre-crisis boom that followed the 2005 rezoning. It came to market in the recovery that followed.
That timing produced its most valuable feature, the tax bill. The condominium holds a 25-year 421-a exemption with a 2007 base year and a 2012 benefit start. On the 2026/27 roll it covers about 96 percent of the building's assessed value, so owners pay tax on little more than the pre-construction lot. By our reading, the full benefit runs through the 2031/32 tax year. That is six more years at full strength, then four years of phase-out. Few Southside resales have that much benefit left, and it should appear in every carrying-cost comparison.
The second feature is the parking. Nine spaces are separately deeded condominium units, a high ratio for a 23-residence building. Some residences convey with a space and some do not. The space is a separate tax lot with its own common charges and taxes, and it can be bought, sold and financed on its own.
The third is the neighborhood around it. The Domino redevelopment along Kent Avenue has added tower density directly across Kent Avenue, including One Domino Square. That work has changed the setting since 2011. This building is a low-rise alternative with a long tax benefit left, next to towers that have none.
Architecture and unit composition
The building rises four stories and 45 feet on a 114.5-foot-wide lot. PLUTO records a building depth of about 70 feet on the 125-foot lot, which leaves open area at the rear. David Cutler, R.A., is the architect of record on the Department of Buildings application, which was filed in December 2006 and signed off in June 2011.
The recorded unit designations give the plan: five residences on the first floor (1A–1E) and six on each of floors two through four (A–F lines). That is a compact building with no penthouse tier. The main differences between residences are floor, exposure (the street side versus the rear) and whether a unit conveys with parking or storage. Room counts and sizes were not available from public records. Confirm them against the offering plan and the specific floor plan.
The condominium also includes nine deeded parking spaces and one deeded storage unit. The original 2011 declaration created 35 lots; two of them, R1 and R2, no longer appear on the Department of Finance roll after the amended declarations. Ask the managing agent what those lots were and how they were resolved. Their fate may affect the common-interest percentages.
Building operations
The 421-a schedule, worked out from the Department of Finance record. The exemption is a 25-year, no-cap 421-a benefit with a 2012 benefit start. Under the 25-year schedule, the benefit stays at 100 percent for 21 years and then steps down 20 points a year for four years. The Department of Finance labels each tax year by the year it ends. Read that way, full exemption runs through 2031/32, the phase-out runs from 2032/33 to 2035/36, and full taxes begin with the 2036/37 tax year, starting July 1, 2036. This is our reading of the statute against the DOF record, not a DOF-published schedule. Have the buyer's attorney confirm it against the unit's exemption detail before pricing.
No regulatory agreement found. A 25-year term is often tied to affordability or location conditions. ACRIS indexes no declaration of restrictions or regulatory agreement against the unit lots, and HPD's records show no income-restricted units. Every residence sold to an unrelated buyer. Ask the managing agent or the condominium's counsel what the 25-year term rests on and whether any continuing obligation comes with it.
Budget and capital. At fifteen years old, the building is past its warranty period and into its first maintenance cycle. Ask for the current budget, the reserve balance, and any completed or planned work on the roof, façade and parking area. With 23 residences sharing the costs, a single assessment affects every owner's charges.
Policy framework
Ownership form: Condominium. Resales close through the board of managers' right of first refusal rather than a cooperative board approval.
Parking and storage: Nine separately deeded parking spaces and one storage unit, each with its own tax lot, common charges and taxes. Confirm in the contract whether a specific residence conveys with one.
Pets, subletting, pied-à-terre and entity purchases: Not documented in the records reviewed. Confirm each in the by-laws and house rules.
Flip tax: Not documented. Confirm any resale contribution with the managing agent.
Recent sales
The sponsor closed all 23 residences between June 2011 and March 2012. Most closed in the first four months, and several came with a parking space. There has been no sponsor inventory since. About nineteen arm's-length resales have been recorded since 2013, spread across the years since. The most recent was in June 2026. Several apartments are still held by their original 2011 buyers.
On a per-square-foot basis, resales belong with the Southside's low-rise new construction of 2008–2012 rather than with the Domino-area towers. As at every 421-a building of this vintage, the remaining years of benefit are part of the price. A buyer in 2026 gets six more years at the full benefit, which lowers the monthly cost against a fully taxed building of similar price. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
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 |
|---|---|---|
| Aug 6, 2026 | 3B | $2,325,000 |
| Aug 22, 2024 | P4 | $1,467,500 |
| Jul 24, 2024 | R4 | $1,805,000 |
| Aug 3, 2022 | 2D | $995,000 |
| Oct 8, 2021 | P2 | $1,950,000 |
| May 6, 2021 | 3D | $1,075,000 |
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 3-02415-7502) 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.
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
Model the tax schedule across your hold. Full benefit through 2031/32, a four-year phase-out, and full taxes from 2036/37. A ten-year hold covers the whole step-up.
Count 23, not 35. The common-charge base is 23 residences, nine parking spaces and one storage unit. Ask how common interest is split, and what happened to the R1 and R2 lots.
Confirm the parking in writing. Spaces are separate deeded units. A listing that mentions parking is not a contract that conveys it.
Ask for the offering plan and amendments. We did not locate a plan. Request it with the current budget and the 2011 and 2016 amended declarations.
What to know if you’re selling
Lead with the years of benefit left. Six more years of full 421-a is rare among Southside resales. Show it in a True Monthly Carrying Cost projection.
Price the parking separately. If the sale includes a space or the storage unit, price and document it as its own unit.
Position against the towers, not with them. Buyers weighing Domino-area new construction are comparing a view and amenities against a lower monthly cost and a small building. Make that trade clear.
Comparable buildings
If you're considering 46 South 2nd Street, also evaluate:
- 24 Dunham Place — 14-residence Southside condominium of 2006 with deeded parking and a 25-year 421-a that phases out earlier; the closest structural peer
- Bridgeview Towers (26 Broadway) — 32-residence condominium near the Williamsburg Bridge with a 25-year 421-a running to 2033/34
- One Domino Square (346 Kent Avenue) — the new waterfront tower across Kent Avenue; the view-premium comparison
- Lofts1 (242 South 1st Street) — 23-residence Southside loft conversion; the same unit count in a converted building
- 338 Berry Street — 60-residence Southside condominium made from an enlarged 1914 loft building; the larger alternative
- 330 Wythe Avenue (The Esquire Building) — 75-residence Wythe Avenue loft conversion; the character alternative
- 1 Powers Street — 31-residence condominium with a 25-year 421-a into the 2030s; a tax-structure peer
- The Oosten (429 Kent Avenue) — the large courtyard condominium further south on Kent; the full-amenity alternative
More Williamsburg buildings
- 434 Marcy Avenue — 2005 condominium by Karl Fischer Architects
- 441 Marcy Avenue — 2008 condominium
- 446 Marcy Avenue — 2011 condominium
- 49 North 8th Street (North8) — 2006 condominium
- 505–515 Flushing Avenue, 505 and 515 Flushing Avenue — 2010 condominium by Karl Fischer Architects
- 510 Driggs Avenue — 2022 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.
Considering a move at 46 South 2nd Street?
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