526 Union Avenue

A seven-story building on a 100-by-100-foot lot. The new-building application records about 35,900 square feet of zoning floor area. Residences occupy floors two through seven; the parking and storage units are within the building. The layout steps down at the top: six units on the second floor, eight on each of floors three through six, and six penthouse units on the seventh.

The mix leans compact. On the Department of Finance roll the smallest residences (the 01 and 04 lines on floors three through six) are about 412 to 450 square feet, most of the rest run about 600 to 980, and the largest are about 1,144: unit 205 and the 07 line on floors three through six. The penthouses run from about 607 to about 1,061 square feet. Bedroom counts, exposures and outdoor space are not documented in the records reviewed and should be read from the floor plans.

A zoning note worth checking. The recorded zoning floor area works out to a floor area ratio of about 3.6 on the lot. PLUTO lists a residential maximum of 3.0 for the district. In this part of the 2005 rezoning area, floor area above the base is generally earned through the Inclusionary Housing program. HPD's affordable-housing production records show no affordable units at this address, and all 44 residences in the condominium sold on the open market. How the additional floor area was generated is not documented in the records reviewed. The offering plan's zoning disclosure is where to confirm it.

There is no real-estate tax exemption on any lot in this condominium. The Department of Finance exemption file shows no 421-a, 421-a(16) or other benefit on lots 1101–1175 or the billing lot on any roll from fiscal 2021 through fiscal 2027. The neighboring condominium at 538 Union Avenue, on the same block, does carry a 421-a benefit, so a buyer comparing the two should compare tax bills, not asking prices. Owners here have paid full Class 2 taxes from their first bill.

At the fiscal 2027 assessments and a Class 2 rate of roughly 12.5 percent, that works out to about $7,000 a year for the smallest residences and about $21,000 to $24,000 for the largest. That is our estimate from the roll, not a bill. Assessments on new condominiums tend to rise as resales establish values. Check the current bill for the specific unit.

Parking and storage are separately deeded lots with their own small tax bills. The sponsor's seven remaining parking spaces are its only remaining stake in the building. Board composition and the date control passed to purchasers are not documented in the records reviewed; ask the managing agent.

Recent sales

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.

Market read. Most recent trades (2025) cleared a median $1,742/sf (recorded) across 2 sales. Median listing discount 0.0% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-02741-7502; 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.

Underwrite full taxes from day one. There is no abatement to burn off. The number is higher than at abated buildings nearby, but there is no step-up waiting later.

Confirm what conveys. Parking spaces and storage units are separate tax lots. If one is part of the deal, it needs its own line in the contract, the title report and the transfer tax filing. The sponsor still holds seven spaces and may sell them directly.

Ask for the documents that aren't public. No offering plan was located. Pets, leasing and short-term-rental rules, any working-capital contribution, the current budget and reserves all have to come from the managing agent and the governing documents. So does the zoning disclosure on floor area.

Check the amended certificate of occupancy. The 2024 amendment added the exercise room. Confirm that the space you are paying common charges on is the legal use.

Price against full-tax new construction. Buyers cross-shopping abated buildings will compare the monthly number. Lead with the tax bill rather than let a buyer find it.

Sell the parking. Twenty-three deeded spaces for 44 apartments makes parking scarce inside the building. An apartment with a space attached is a different product.

• 88 Withers Street (Element 88): a 33-residence condominium on the neighboring block, same MX-8 zoning, separately deeded parking and storage, and also sold with no abatement
• 510 Driggs Avenue: a 44-residence Northside Williamsburg condominium that sold out in 2023 and is fully taxed with no 421-a
• 147 Hope Street: a 38-residence Williamsburg condominium with underground parking and no abatement; the full-tax comparison
• 65 Eckford Street: a 2025 Greenpoint delivery with full real-estate taxes; the newest small-building contrast
• 415 Leonard Street: a seven-story condominium with separately deeded parking whose 421-a has already expired
• 280 Metropolitan Avenue: a 28-residence Williamsburg condominium with deeded parking and a capped 421-a stepping down from 2028; the abated contrast
• 14 Hope Street: a 23-residence condominium with a garage and a 25-year 421-a running into the 2030s