Brooklyn Condo Lawyer

Condominium Purchase and Sale Attorney Serving Brooklyn, NY

Brooklyn's condominium market has expanded dramatically over the past two decades. New developments in Williamsburg, DUMBO, Downtown Brooklyn, Prospect Heights, and Greenpoint have added thousands of condo units to a borough historically dominated by brownstones and cooperative apartments. Conversions of former warehouses and commercial buildings in neighborhoods like Bushwick, Gowanus, and Red Hook have further increased the condo inventory.

When you purchase a Brooklyn condo, you acquire real property: a deed to your unit plus an undivided interest in the building's common elements. This ownership structure differs fundamentally from a co-op purchase, where you buy shares in a corporation. The distinction affects everything from how financing works to what closing costs you pay, what due diligence is required, and what governance rules apply.

At Agarunov Law Firm, P.C., we represent condo buyers and sellers across Brooklyn. Whether you are purchasing in a new development or buying a resale unit in an established building, our attorneys provide thorough contract review, offering plan analysis, title examination, and closing representation. Our office is easily reached from Brooklyn via the 2, 3, 4, 5, J, or Z trains to Fulton Street. Contact us for a free consultation on your Brooklyn condo transaction.

Our Brooklyn Condominium Legal Services

Contract Review and Negotiation

Brooklyn condo purchase contracts require careful legal review regardless of whether you are buying a resale unit or purchasing from a sponsor. For resale transactions, we negotiate and review the standard contract of sale, ensuring that deposit terms, contingencies, closing timeline, and representations protect your interests. For new construction purchases, the contract is typically drafted by the sponsor's attorney and weighted heavily in the sponsor's favor. We identify provisions that create unnecessary risk and negotiate modifications on your behalf.

Offering Plan Review and Analysis

Every Brooklyn condominium has an offering plan filed with the New York Attorney General's office. This document governs the building's structure, finances, governance, and unit owners' rights. We review the offering plan with particular focus on common charge projections and what they cover, tax abatement status and expiration dates (many Brooklyn new developments have 421-a abatements that expire after 15 or 25 years), the sponsor's retained units and voting control, reserve fund adequacy, insurance coverage, and any pending litigation or building violations.

New Development Purchases in Brooklyn

Brooklyn is one of the most active new development markets in New York City, with major condo projects in Williamsburg, Downtown Brooklyn, Prospect Heights (near the Barclays Center), and along the waterfront. Buying directly from a sponsor involves unique legal considerations: the sponsor controls the condo board until a threshold of units are sold, construction may still be underway, and the contract typically contains broad protections for the developer. We protect buyers by reviewing the offering plan for unusual sponsor provisions, negotiating contract modifications where possible, verifying certificate of occupancy status, and identifying construction defects or punch-list items.

Title Search and Insurance for Brooklyn Condos

Because a condo purchase transfers real property, title examination is a critical step. We coordinate the title search, review the report for liens, judgments, easements, or other encumbrances, and work to resolve any issues before closing. Brooklyn properties, particularly those in older neighborhoods that have undergone conversion, can have complex title histories that require careful examination. We also ensure you obtain appropriate title insurance coverage to protect your ownership interest.

Closing Cost Analysis and Representation

Brooklyn condo closing costs can be substantial. Buyers should budget for mortgage recording tax (1.8% to 1.925% of the loan amount), title insurance, mansion tax for purchases of $1 million or more, attorney fees, lien search fees, and building-related charges. For new construction, buyers in some buildings also pay a portion of the sponsor's transfer tax. We prepare detailed closing cost estimates early in the transaction so there are no financial surprises at the closing table.

Brooklyn Condo Sales

For sellers, we prepare and negotiate the contract, coordinate with the managing agent on transfer requirements, ensure compliance with the building's right of first refusal process, and represent you at closing. We calculate applicable transfer taxes (NYC and NYS) and ensure proper allocation of closing costs between buyer and seller.

What You Should Know About Brooklyn Condos

Brooklyn's condo landscape is remarkably diverse. The borough includes luxury waterfront towers in Williamsburg and DUMBO with asking prices above $2 million, mid-range developments in Crown Heights and Prospect Lefferts Gardens, warehouse conversions in Bushwick and Gowanus, and affordable units in emerging neighborhoods. Each type of building presents different legal considerations, from sponsor control issues in new construction to deferred maintenance questions in converted buildings.

Tax abatements are a significant factor in many Brooklyn condo purchases. Buildings with 421-a abatements offer reduced property taxes for a set period, but when the abatement expires, real estate taxes can increase substantially. Understanding the abatement timeline and projected tax increase is essential to evaluating the true long-term cost of ownership. Your attorney reviews the abatement terms and explains the financial implications.

Unlike co-ops, Brooklyn condos do not require board approval for purchases. The condo association has only a right of first refusal, which is almost never exercised. This makes condo purchases faster and less uncertain than co-op transactions, but the legal due diligence requirements are still significant. Skipping the offering plan review or title search to save time can lead to expensive problems after closing.

Why Brooklyn Condo Buyers and Sellers Choose Agarunov Law Firm

• Brooklyn Condo Experience: We handle condo transactions across Kings County, from new developments to resale units and conversions
• Offering Plan Expertise: Thorough review of offering plans, amendments, and sponsor obligations
• Direct Attorney Access: Your attorney handles your transaction personally, providing responsive communication throughout
• Convenient Access: Our Financial District office is minutes from Brooklyn via the 2, 3, 4, 5, J, or Z trains to Fulton Street
• NY and NJ Licensed: We serve clients across both states for those with cross-border property interests