892 Bergen Street

The lot is irregular, about 15,500 square feet with roughly 136 feet of frontage on Bergen Street, per the Department of Finance. PLUTO attributes about 4,300 square feet of the building's roughly 40,500 square feet to garage use, which is where the parking units sit. The residential floors are regular: the ground floor holds two apartments, 1A and 1B, and each floor from two through ten carries the same four lines.

The Department of Finance roll repeats areas for the four lines; this does not establish identical physical layouts or interior dimensions. The A line is about 977 square feet, B about 746, C about 1,095 and D about 1,011. The ground-floor units are 953 and 786. That is a narrow size band. There is no penthouse line and no oversized unit on the roll, but those recorded areas do not establish the main causes of price differences; assess floor, exposure, condition, layout and conveyed parking against actual sales.

Parking is 27 separate condominium units, with each assessed at about 153 square feet on the roll; that figure is not a measured usable stall dimension. Spaces convey by their own deed. Several owners hold an apartment and a space together; buyers who want one should confirm which spaces are available and on what terms.

This is a mid-size, professionally managed condominium with a single passenger elevator on DOB's device records. The façade has been through two inspection cycles: the Cycle 8 report, filed in 2017, rated it "safe with a repair and maintenance program," and the Cycle 9 report, filed in 2021, rated it safe. The Cycle 10 filing will be the next one to check. The two DOB/ECB violations on record are resolved.

The declaration was amended in March 2012, while the last sponsor closings were still under way. Its substance is not reflected in the public index. Buyers should get it from the managing agent along with the by-laws, the current budget and the reserve position.

Program and term. Department of Finance code 5114 — 421-a, 25 years, no assessed-value cap. Base year 2006; benefit years beginning 2011/12.

Where it stands. On the 2026/27 roll the exemption covers the full increase in assessed value over the 2006 base. The base itself is small because the site was not yet built on, so owners pay tax on only a sliver of each unit's 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 in 20 percent steps over the last four. On this building's dates, the first step-down falls in the 2032/33 tax year, the final 20 percent year is 2035/36, and full taxation begins in July 2036. Confirm the exact phase-down years from the Department of Finance Notice of Property Value for the unit.

An open question. A 25-year 421-a term normally requires affordability commitments or substantial government assistance. The public records reviewed here do not establish which applied at 892 Bergen Street, or whether any unit carries income, occupancy or resale restrictions. Every residential unit shows on the roll under individual ownership with the same exemption and no distinguishing class. Have counsel review the offering plan and anything recorded against the unit before contract.

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 (2026 to date) cleared a median $1,482/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 0.0% from the last ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01149-7501; 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.

Underwrite two tax bills. Price the unit on today's near-zero building tax and on the full, unabated bill that begins in July 2036. The second number is the long-run carrying cost.

Ask about affordability terms. Establish whether the 25-year term came with any restriction on the unit before contract.

Treat parking as a separate asset. Spaces are separate deeded units. If one matters, confirm whether it conveys with the apartment you are buying.

Get the 2012 amended declaration. Read it with the by-laws and the current budget.

State the tax position as a number. Buyers will ask what happens when the exemption ends. Give them the current bill, the phase-down years and the full-tax estimate up front; a clear answer removes a reason to discount.

Sell height and exposure. In a ten-story building on a mostly low-rise block, the upper lines' light and outlook are the main distinction. Market the floor.

List a deeded space on its own line. If your sale includes one of the 27 parking units, price and describe it separately.

If you're considering 892 Bergen Street, also evaluate:

• 475 Sterling Place — 45-residence Crown Heights condominium with deeded parking and a 25-year 421-a on the same 2006 base year; the closest tax comparison
• 859 Myrtle Avenue — ten-story Bedford-Stuyvesant condominium with a 25-year 421-a; the same height and tax structure to the north
• 488 Sterling Place — 25-residence 2021 condominium across from 475 Sterling with no 421-a; the fully taxed contrast
• 834 Sterling Place — 54-residence 2015 Crown Heights condominium with deeded parking and no exemption
• 255 Eastern Parkway (The Woodrow Wilson) — prewar condominium conversion between Classon and Franklin Avenues; the same stretch in an older building
• 856 Washington Avenue — 26-unit 2017–18 condominium near Eastern Parkway; newer, smaller
• 280 Saint Marks Avenue — 31-unit Prospect Heights condominium; the same new-construction product west of Washington Avenue