488 Sterling Place
488 Sterling Place, Brooklyn, NY 11238
BBL 3011747503 · BIN 3029436
- Year built
- 2021
- Type
- Condominium
- Units
- 25
- Floors
- 7
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 488 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.
488 Sterling Place is a new condominium with no tax exemption, and that is the first thing to know about it. Its neighbor across the street, 475 Sterling Place, is still inside a 25-year 421-a that shelters most of each unit's assessed value into the 2030s. At 488, owners already pay the full tax bill. The monthly cost of ownership is higher, but there is no scheduled increase ahead.
The second fact is unit size. Most of the twenty-five residences run between about 1,250 and 1,810 square feet. The ground-floor 1B and the corner penthouse PH-C are each about 2,280. Only the C line, at about 710 square feet, is small. For a mid-block building in this part of Crown Heights, that is a large-format mix, and it sets the price level of the building's sales.
The third is how the building was sold. The sponsor closed all twenty-five residences between late March and late June 2022, most within about four weeks. Thirteen buyers took a deeded parking space with their apartment, and the fourteenth space was conveyed separately. By the summer of 2022, no sponsor inventory remained. Since then the building has been a small resale market with individual owners throughout.
Architecture and unit composition
The building is a seven-story block on a 75-by-131-foot lot. The ground floor has two large units. The five typical floors each have a four-apartment plate. The top floor has three penthouses. By Department of Finance gross area, the D line is about 1,810 square feet, the B line about 1,270, the A line about 1,250 and the C line about 710. The penthouses are about 1,340, 1,380 and 2,280 square feet.
An amended declaration and new floor plans for PH-C were recorded in April 2023, after that unit's first sale. The records reviewed do not show what changed. A buyer looking at PH-C should read the amendment and confirm that the unit's current layout, outdoor space and common interest match it.
The architect of record on the Department of Buildings filing is Robert Litchfield, RA. No architectural press coverage of the design was found. Finishes, amenities and outdoor space are not documented in the city records reviewed. Confirm them against the offering plan and a current listing.
Building operations
Parking. The fourteen parking spaces are separate condominium units with their own tax lots. Thirteen were conveyed with an apartment in the 2022 sponsor sales, and one was conveyed on its own. Check any purchase that includes a space against the deed, and confirm how parking costs appear in common charges.
Façade program. At seven stories, the building exceeds six stories and falls under the city's Façade Inspection and Safety Program (Local Law 11). A building finished in 2021 will reach its first inspection cycle within a few years. Ask the managing agent where it stands.
Documents. No offering plan, audited financial statements or budget is on file in The Roebling Research Library. Before contract, ask for the plan and its amendments, the by-laws, the last two audits, the reserve balance, and the status of any sponsor-warranty or construction-defect claims. Buildings completed in 2021 are usually still inside that window.
The tax position
What the records show. Department of Finance exemption records carry no exemption on any unit lot at 488 Sterling Place. That includes no 421-a, no 421-a(16) (Affordable New York) and no J-51. The 2026/27 roll shows no exempt value on any residence. ACRIS shows no recorded regulatory agreement.
Why that is plausible. The homeownership option of 421-a(16) was available outside Manhattan, but only for units assessed at or below a per-unit ceiling of $65,000 at first assessment, and it came with owner-occupancy requirements. Every residence here is assessed well above that figure on the current roll. Whether the sponsor ever applied for a benefit is not documented in public records. Confirm it with the offering plan.
What it means for a buyer. The current tax bill is the real carrying cost, with no step-up coming. That makes 488 Sterling easier to underwrite than a building with an exemption that is running out, and, apartment for apartment, typically more expensive to carry today than a comparable unit across the street. Compare the two with the True Monthly Carrying Cost Calculator over your expected holding period, not on this year's bill alone.
Recent sales
488 Sterling Place trades as early-2020s Crown Heights–Prospect Heights edge new construction, priced per square foot against the Washington Avenue and Vanderbilt Avenue condominiums of the last decade. The Eastern Parkway prewar stock is a separate market and not a direct comparable. With twenty-five units and owners who bought in 2022, resales are infrequent. The building has recorded only a handful of sales since sellout. Size explains most of the spread, since the building's lines differ by more than a factor of two in area. Beyond size, a deeded parking space and the tax difference between this building and its exempt neighbors are the main factors. 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 |
|---|---|---|
| Apr 9, 2026 | 4A | $1,977,500 |
| Oct 14, 2025 | P11 | $2,060,000 |
| Jun 14, 2024 | 4B | $2,050,000 |
| Jul 7, 2022 | 4C | $941,881.25 |
| Jun 15, 2022 | 6D | $2,517,766.88 |
| Jun 9, 2022 | P2 | $3,325,000 |
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 3-01174-7503) 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.
Keep up with 488 Sterling Place and its market
The Roebling Report, monthly: Manhattan sales data and analysis, including buildings like488 Sterling Place. Unsubscribe anytime.
We’ll use your email for The Roebling Report and note your interest in this building. See our privacy policy.
What to know if you’re buying
Compare total monthly cost, not price. Against 475 Sterling or another building still under 421-a, this building will usually look more expensive per month today and cheaper over a long hold. Run both.
Confirm the space by deed. If the listing includes parking, make sure the parking lot number appears in the deed you are buying.
Ask about the warranty period. For a building this new, the managing agent and board minutes will tell you whether open construction issues are being pursued against the sponsor.
What to know if you’re selling
Make the tax position part of the case. A buyer comparing this building with its 421-a neighbors should see that there is no step-up coming here. Include the current tax bill in the listing package.
Price the parking separately. A deeded space affects value at this location. Price it and show it separately.
Comparable buildings
If you're considering 488 Sterling Place, also evaluate:
- 475 Sterling Place — the 45-unit 2008 condominium directly across the street, with deeded parking and a 25-year 421-a running into the 2030s
- 834 Sterling Place (Hello Sterling) — 54-residence 2015 Crown Heights condominium, also with no 421-a
- 856 Washington Avenue — 26-unit 2017 condominium at Eastern Parkway, a few blocks south
- 280 Saint Marks Avenue — 31-unit 2016 Prospect Heights condominium still under a 15-year 421-a
- The Washington (35 Underhill Avenue) — 39-unit mid-2000s Prospect Heights condominium
- Isabella (545 Washington Avenue) — Washington Avenue condominium with an enclosed garage
- 450 Grand Avenue — 39-unit 2023 Clinton Hill condominium, also carrying full taxes from the start
- 550 Vanderbilt Avenue — full-service Pacific Park condominium for buyers weighing amenities against carrying cost
More Crown Heights buildings
- 225 Eastern Parkway (The Traymore) — 2006 condominium
- 255 Eastern Parkway (The Woodrow Wilson) — condominium
- 475 Sterling Place — 2006 condominium
- 720 Nostrand Avenue (Urban Nostrand) — 2018 condominium
- 762 Park Place — 2018 condominium
- 823 Classon Avenue (The Prospect) — 2011 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 488 Sterling Place?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.