475 Sterling Place
475 Sterling Place, Brooklyn, NY 11238
Crown Heights, Brooklyn
BBL 3011677501 · BIN 3393503
- Year built
- 2006
- Type
- Condominium
- Units
- 45
- Floors
- 5
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Leasing by owners
- Permitted with conditions
- Dogs and cats
- Permitted with conditions
- Doorman
- Part-time doorman
Every recorded sale at this building, 2008–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf, 2026 to date
- $1,412
- floor-adjusted, 1 sale
- Listing discount
- 2.9%
- Recorded sales
- 65
- On record
- 2008–2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 475 Sterling 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.
The number that sets 475 Sterling Place apart is 2034. Most Brooklyn condominiums of this vintage came with 10- or 15-year 421-a benefits that have already expired. This building's exemption is a 25-year term, and in 2026 it still shelters about 94 percent of each residential unit's assessed value. The owners' tax bills today are based mostly on the land's pre-construction value. That is a large, temporary advantage, and it sets the terms of every sale here: the buyer is paying for a low tax bill with a known end date.
The second distinguishing fact is parking. Twenty-three spaces are separate condominium units with their own tax lots, conveyed by deed. The sponsor sold most of them with apartments, and several owners have since bought and sold spaces separately. A few residential blocks from Eastern Parkway, deeded on-site parking is uncommon, and whether a unit comes with a space makes a real difference to its price.
The third is design. ESKW/Architects set the bearing walls perpendicular to Sterling Place so the street face could be almost entirely glass without the cost of a curtain wall. The architect's own account frames the project around affordability and daylight, with CPC Resources as its client. The building is a five-story, 45-unit mid-block condominium on a lot of almost 23,000 square feet. That lot is large for the block, which is why there is room for a garden, a garage and a common terrace.
The location is the Crown Heights side of Washington Avenue, a few minutes' walk from the Brooklyn Museum, the Botanic Garden and the Eastern Parkway subway stations. It is outside every historic district that surrounds it, which means no Landmarks review for owners' window or exterior work.
Architecture and unit composition
The residential floors run ten apartments on each of the second through fourth floors (lines A through J), eight on the first and seven on the fifth. Department of Finance gross areas range from about 730 square feet for the smallest one-bedrooms to nearly 1,960 for the largest ground-floor units. Listing records describe open layouts with high ceilings, hardwood floors, GE appliance packages and two full baths in the larger two- and three-bedroom units. Ground-floor units carry private gardens and some upper units have terraces. Under the house rules, terrace plantings must sit in lined boxes raised off the membrane, and the rules warn that terrace floors are designed for small potted plants only.
The house rules also require that at least 80 percent of each unit's floor area outside kitchens, baths, closets and foyers be covered with rugs or equivalent sound-absorbing material, and they limit noisy construction to weekdays from 9 a.m. to 4 p.m. Both are worth knowing before a renovation or a hardwood-floor purchase.
Building operations
Staffing is modest: a part-time lobby attendant and a superintendent, per listing records. The amenity package — gym, playroom, community room, garden and two outdoor common areas — is broad for a building this size. The parking level and a ground-floor garden add maintenance lines that a building without them does not carry.
No audited financial statements are on file in The Roebling Research Library for this building. Ask the managing agent for the last two years of audits, the reserve balance, any assessment history and the façade and roof maintenance schedule before signing. At five stories (six by the architect's count), the building sits below the more-than-six-story threshold for the city's façade inspection program.
The tax exemption, in detail
Program and term. Department of Finance code 5114 — 421-a, 25 years, no assessed-value cap. Base year 2006; benefit years beginning 2010.
Where it stands. On the 2026/27 roll, the typical residential unit is about 94 percent exempt. The taxable remainder reflects the lot's pre-construction assessed value.
What happens next. Under the standard 25-year 421-a schedule, the exemption stays at full value for 21 years and then phases out over the last four. On this building's dates, that puts the first step-down around 2031 and full taxation after 2034, consistent with the 2034 end date in listing records. Confirm the exact phase-down years from the Department of Finance Notice of Property Value for the unit.
Why it matters. On the 2026/27 roll, a typical unit's taxable assessed value is about one-sixteenth of its full assessed value, so the unabated bill will be many times the current one. A buyer holding past 2034 should underwrite the unabated figure. A buyer planning to sell before 2031 is selling into a market that will price the remaining years.
An open question. A 25-year 421-a term normally requires affordability commitments or substantial government assistance. The documents readable on file do not establish which one applied here, or whether any unit carries income, occupancy or resale restrictions. The Department of Finance roll shows every residential unit under individual ownership with no distinguishing class. Before contract, have counsel review the offering plan and any regulatory agreement recorded against the unit.
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.
- Leasing by owners
- Permitted with conditionsBoard approvalSource: 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
- Dogs and cats
- Permitted with conditionsPermitted. Under the initial rules and regulations filed with the offering plan, an owner may keep one cat, one dog or one bird without board consent; anything more requires the board's written consent, which the board can revokeSource: 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.
Monthly carrying charges in recent sales
- Common charges + taxes, per room
- $228 per room a monthMedian of 7 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Common charges + taxes, per square foot
- $0.82 per square foot a monthMedian of 7 recorded sales since October 2023Source: recorded sales, refreshed October 2026
Common charges plus real estate taxes, combined into one monthly figure the way New York condominium listings show them. Add a mortgage payment for the monthly outlay. A summary of recorded sales, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Part-time doormanSource: recent listing records
- Attended lobby
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of City Planning records (PLUTO)
- Amenities noted
- Fitness room, playroom, roof deck, garden, bike storage, storageSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent. Outdoor space, parking and some facilities can belong to particular apartments or to a separate owner; confirm access for the specific apartment.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $43,847/yr
- Per unit / month range
- $0 – $81
- Modeled exposure split equally across 45 units (the residential count on the city's lot record). Not an assessed amount; condominium owners are typically charged by each unit's common-interest percentage.
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
475 Sterling Place trades as late-2000s Crown Heights–Prospect Heights edge new construction, priced per square foot against the Washington and Vanderbilt Avenue condominiums rather than the prewar co-ops on Eastern Parkway. The sponsor sold the residences between December 2008 and December 2010, and the last parking space closed in January 2011. The building has been a resale market since, typically with a handful of recorded sales a year.
Three things drive the spread. First, the tax exemption: each year that passes brings the step-down closer, and buyers adjust for the years remaining. Second, parking: an apartment sold with a deeded space is a different product from one without. Third, outdoor space, mostly on the ground floor and on terrace units. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
Recent closings 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 |
|---|---|---|---|---|---|
| May 11, 2026 | 5E | 2 BR · 2 BA · 924 sf | $1,305,000 | $1,412/sf | +1.6% |
| Oct 1, 2025 | 3A | 2 BR · 2 BA · 1,108 sf | $1,500,000 | $1,354/sf | -4.8% |
| Aug 22, 2025 | 3D | 2 BR · 2 BA · 1,093 sf | $1,485,000 | $1,359/sf | +2.4% |
| Jun 27, 2025 | 2B | 2 BR · 2 BA · 1,101 sf | $1,476,000 | $1,341/sf | +5.4% |
| Oct 17, 2024 | 1A | 2 BR · 2.5 BA · 1,631 sf | $1,525,000 | $935/sf | -4.7% |
| Aug 9, 2024 | 1B | 3 BR · 2.5 BA · 1,827 sf | $1,640,000 | $898/sf | +3.1% |
| May 2, 2024 | 4B | 2 BR · 2 BA · 1,101 sf | $1,375,000 | $1,249/sf | +2.2% |
| Jul 25, 2023 | 4D | 2 BR · 2 BA · 1,093 sf | $1,322,500 | $1,210/sf | -1.7% |
Market read. Most recent trades (2026 to date) cleared a median $1,412/sf (floor-adjusted) across 1 sale. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 2.9% 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 3-01167-7501; 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; square footage from recorded condo declarations and offering plans.
What would your apartment rent for?
Enter your apartment and I'll send you what it would rent for, from comparable closed leases at 475 Sterling Place and nearby.
At the recent median sale of $1.48M (4 sales in the past 24 months, since November 10, 2024), a buyer putting 25% down would pay about $63,274 to close, or 4.3% of the price.
- Mansion tax: $14,805
- Mortgage recording tax: $21,375
- Title insurance: $6,662
- Attorneys, lender, building fees, reserves and filings: $20,432
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
Underwrite two tax bills. Run the True Monthly Carrying Cost Calculator on the current exempt bill and on an estimate of the full post-2034 bill. The gap between them is the real cost of holding past the phase-out.
Confirm the parking by deed. A space is its own tax lot. Check that the one you are paying for is in the deed, and remember that its exemption, like the apartment's, ends in the 2030s.
Ask the affordability question in writing. Have counsel confirm whether any regulatory agreement or resale restriction attaches to the unit. The 25-year term makes this a question worth asking.
Read the floor-covering rule before you buy furniture. The 80-percent carpet requirement is in the recorded house rules. Ask whether the board still enforces it.
What to know if you’re selling
The exemption is worth money; show it. Put the current Department of Finance bill in the listing package and state the 2034 end date plainly. Buyers who find the step-down on their own negotiate harder.
Sell the parking with the apartment when you can. A deeded space in this location is scarce. If you own one, price it and market it; if you don't, price against units that do.
Lead with light and outdoor space. The glazed street wall and the private gardens and terraces are what this building offers over its neighbors.
Comparable buildings
If you're considering 475 Sterling Place, also evaluate:
- 856 Washington Avenue — 26-unit 2017 condominium at Eastern Parkway, a few blocks south on the Prospect Heights side
- The Washington (35 Underhill Avenue) — 39-unit mid-2000s Prospect Heights condominium with an on-site garage
- Isabella (545 Washington Avenue) — 63-unit condominium filed in 2004, farther north on Washington Avenue
- 280 Saint Marks Avenue — 31-unit 2016 Prospect Heights condominium between Vanderbilt and Underhill
- 145 Park Place — mid-2000s Park Slope condominium with 27 deeded parking-space units; the closest structural parallel
- 111 Montgomery Street — 163-unit 2018 Crown Heights condominium with a garage unit
- The Woodrow Wilson (255 Eastern Parkway) — prewar Crown Heights condominium on the Parkway
- 550 Vanderbilt Avenue — the full-service Pacific Park condominium for buyers weighing amenities against carrying cost
More Crown Heights buildings
- 355 Saint Marks Avenue, 355 Saint Marks Avenue · Crown Heights — 1931 condominium
- 442 Saint Marks Avenue — 1931 condominium
- 462 Saint Marks Avenue — 2023 condominium
- 488 Sterling Place — 2021 condominium
- 524 St. Johns Place — condominium
- 529 Park Place — condominium
The neighborhood
For the full neighborhood — its buildings, character, and market — read The Roebling Team Guide to Crown Heights.
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 475 Sterling 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