92 Stockton Street

Nine stories on Stockton Street, with commercial and community-facility space at grade and apartments on floors two through nine. The Department of Finance attributes about 95,000 gross square feet to the building. The layout per the roll:

• Floor 2: four apartments. 2A (about 1,485 square feet), 2B (about 1,446), 2C (about 1,369) and 2D, the largest apartment in the building at about 2,867
• Floors 3 through 8: five apartments each. A about 1,485, B about 1,446, C about 1,369, D about 1,204 and E about 1,489
• Floor 9: five apartments on a smaller plate. 9A about 1,146, 9B about 1,134, 9C about 1,383, 9D about 688 and 9E about 1,319

On floors 3 through 8 the tax-roll areas repeat line by line, which makes floor and exposure the main things separating one A-line apartment from another there. Floor 2, with four apartments including the large 2D, and floor 9 depart from that schedule. Matching areas do not prove identical layouts; the approved floor plans settle that. Whether 9th-floor units have terraces is not documented in the records reviewed.

The ground-floor units are about 1,200 square feet (unit 1, at 88 Stockton Street), about 2,760 (unit 2, at 96 Stockton Street) and about 12,100 (unit 3, at 565 Marcy Avenue). Unit 3 is held by a not-for-profit and carries a separate not-for-profit exemption (code 1021) from 2023. Ask what uses the declaration allows in the ground-floor units and how their common-charge shares were set.

The 421-a is active, but it reached the roll late. Every residential unit lot carries code 5114 with a 2020 benefit start. On the current roll the exemption covers nearly all of each unit's assessed value except the land portion. On the 2027 assessments and a Class 2 rate of roughly 12.5 percent, that leaves a tax of about $600 to $2,500 a year for most apartments. Full taxes on the same assessments would run about $11,000 to $44,000. These are our estimates from the roll, not bills.

One anomaly to resolve. The exemption does not appear on the 2023, 2024 or 2025 rolls. Owners who closed in 2021 were billed full taxes for those years. The same pattern appears at 859 Myrtle Avenue. Ask the managing agent and the sponsor's counsel whether those years were credited back after the exemption was granted.

How the term was earned. Under the pre-2016 421-a program, a 25-year term was generally reserved for projects tied to affordable housing or government assistance. The complex did include affordable housing, which press accounts and the city's housing lottery place in a separate rental building on Myrtle Avenue. HPD's affordable-housing production data lists no project on this building's lot, and ACRIS shows no regulatory agreement on these unit lots. Confirm with the offering plan and the 421-a certificate that no unit here carries income, resale or occupancy restrictions.

Staffing, amenities, the operating budget, reserves and any agreements shared with the rest of the complex (garage, easements, cost-sharing) are not documented in sources we can verify. At about 95,000 square feet the building is covered by the city's energy benchmarking and emissions rules. Ask the managing agent for the building's position in writing.

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 $892/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.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01747-7508; 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.

Confirm the 421-a schedule for your unit. Pull the Department of Finance record. Confirm the benefit start, the phase-down years and whether the 2023–2025 tax years were credited.

Get the restriction answer in writing. A letter from the condominium's counsel confirming that your unit carries no income, resale or owner-occupancy restriction takes care of the question before contract.

Read this building's documents, not the complex's. Ask for the Cascade D declaration, bylaws and budget, and any agreement tying it to the other Cascade buildings.

Expect lender questions. Several units are held in LLCs or trusts. A lender reviewing entity ownership and owner occupancy may not offer a limited review.

Get the policy stack. Leasing minimums, pets, move fees and any right of first refusal are not documented in sources we can verify.

Sell the tax line. Put the current tax bill and the remaining 421-a schedule in the listing package. It is the building's clearest financial advantage.

Answer the credit question before a buyer asks. If the 2023–2025 taxes were refunded or credited, have the paperwork ready.

Position against the complex. Buyers will tour the other Cascade buildings. Know how your line compares in size, floor and tax.

If you're considering 92 Stockton Street, also evaluate:

• 859 Myrtle Avenue — the Cascade F Condominium on the same block; the same sponsor and architect, the same 25-year 421-a, and six unsold sponsor apartments
• 600-610 DeKalb Avenue — a 70-unit condominium in western Bedford-Stuyvesant, within a larger mixed development
• 315 Gates Avenue (315 Gates) — a Karl Fischer condominium at Bedford Avenue whose 421-a is at or past expiry; the tax contrast
• 136 Clifton Place — The Clifton Place Condominium, with a 25-year 421-a running into the 2030s
• 330 Wallabout Street — a 40-unit 2022 condominium in the same ZIP code, with no abatement
• 525 Myrtle Avenue — a 22-residence Clinton Hill condominium on Myrtle Avenue with a 15-year 421-a in its step-down
• 87 Irving Place — a 25-unit Clinton Hill condominium sold out in 2025