98 Havemeyer Street (Williamsburgh Mews)

Each of the three buildings is four stories and holds eight apartments, numbered 1 through 8 with a letter for the building: A at 98, B at 102, C at 106. In each building, units 1 and 2 are about 1,450 to 1,500 square feet per the Department of Finance roll, and units 3 through 8 are about 790 to 850 square feet. Listing records describe a mix of floor-throughs and duplexes. Confirm any layout against the floor plans filed with the declaration.

There is no elevator, no parking and no separately deeded storage. The condominium consists of the 24 apartments and nothing else, so every sale is a single-lot transfer.

Not 14 Hope Street. The condominium at 14 Hope Street sits on the same tax block (lot 7503) around the corner on Hope Street. It is a separate regime with a different sponsor, built seven years later with an elevator, garage and rooftop cabanas. The two share nothing but the block.

The 421-a clock. The Department of Finance exemption roll records code 5114, "421-a, 25 years, no cap," on all 24 unit lots, with a 2000 base year and a 2004 benefit start. Under the statutory 25-year schedule the benefit runs at full value for 21 years and then steps down 20 percent a year over the last four. The roll bears that out. The exemption was at full value through 2023/24, then dropped to 80 percent in 2024/25, 60 percent in 2025/26 and 40 percent on the current 2026/27 roll. It falls to 20 percent in 2027/28 and ends June 30, 2028. The base assessment excluded from the benefit is very small, so while the exemption ran at full value it covered almost the whole assessment. Confirm the schedule against the current bill. The records we reviewed do not explain why the buildings qualified for the 25-year term, and we found no affordable-unit requirement.

What it means in practice. For a typical apartment, taxable assessed value on the 2026/27 roll is roughly 60 percent of the full assessment. Two more step-ups will bring it to 100 percent. The increase is proportionally larger than most buyers expect, because the benefit started from nearly the full assessment.

Sponsor position. The sponsor sold all 24 apartments in 2002. The reviewed deeds and tax roll show separate record owners; they do not establish beneficial ownership, unrelated purchasers or the absence of sponsor affiliates. Check the current ownership schedule and governing records.

Staffing and management. Not documented in the records we reviewed. Confirm with the managing agent.

Recent sales

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-02383-7501; 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.

Underwrite the 2028 tax bill, not today's. Run True Monthly Carrying Cost at the current bill and at the fully taxed number. The difference arrives in two steps over the next two tax years.

Walk the stairs. These are four-story walk-ups. The upper apartments trade on light and privacy; the lower ones on access and size.

Get the building documents. No offering plan or financial statements were found in The Roebling Research Library. A buyer's attorney should review the declaration, bylaws, current budget, reserves and any planned assessment. In a 24-year-old building, ask about roofs and façades on all three buildings.

Confirm leasing and pet rules in writing. They are not documented in the records we reviewed.

Show the tax schedule with dates. Buyers will discount a step-up they don't understand. Present the current bill, the two remaining steps and the fully taxed figure.

Price against fully taxed comparables. That is how an informed buyer will read the apartment.

Have the capital history ready. Buyers of a 2002 building will ask what has been replaced and when.

If you're considering 98 Havemeyer Street, also evaluate:

• 14 Hope Street — the 2009 elevator condominium on the same block, with a 25-year 421-a still at full value
• 136 Powers Street — a 20-residence walk-up condominium off Grand Street, also on a 25-year 421-a
• 1 Powers Street — a 31-residence elevator condominium at Union Avenue, on a 25-year 421-a running into the 2030s
• 147 Hope Street — a newer condominium with underground parking and no abatement, toward Union Avenue
• 280 Metropolitan Avenue — a 28-residence condominium with a capped 421-a beginning to step down
• 26 Broadway — a 32-unit 2006 condominium with an active 25-year 421-a
• 130 Jackson Street — a 21-apartment loft-conversion condominium from 2007, now fully taxed