NOT LISTED FOR SALE

2523 Ocean Ave Unit 5C Brooklyn, NY 11229

Madison Neighborhood

Estimated Value: $667,000 - $699,060

2 Beds
2 Baths
1,181 Sq Ft
$387/mo HOA Fee

Last Sold May 09, 2024

Last sale price $640,000 $542 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $4,688/month

112 Days on Market

Highlights

  • City View
  • Cooling Available
  • 1-Story Property
  • Jhs 234 Arthur W Cunningham Rated A-

About This Home

As of May 2024

Introducing this charming 2-bedroom, 2-bathroom condo with one parking space located in the heart of Sheepshead Bay. This 1,181 sqft home features a well-equipped kitchen and a spacious living room. As you step inside, you are greeted by an abundance of natural light streaming through brand-new large windows, illuminating the living room and kitchen area. The kitchen is equipped with modern appliances and beautiful custom cabinets. Both bedrooms are generously sized, one being a master suite, providing ample living and storage space. The condo features the convenience of in-unit laundry and dryer, adding to the ease of everyday living. Stay comfortable year-round with the wall AC units. Additionally, there is the convenience of having 1 parking space. Ideal location just minutes away from the bustling business district on Avenue U for shopping, restaurants, banks, and more. Enjoy easy access to public transportation with the Q train, B3, B49, and BM3 buses, making your daily commute a breeze. Don't miss this opportunity to own a piece of Sheepshead Bay's vibrant community.

Last Agent to Sell the Property

Kelly Wu

RE/MAX Edge Brokerage Phone: 718-288-3835 License #10401268467 Listed on: 10/26/2023

RE/MAX Edge

Last Buyer's Agent

Non Member

NonMember

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $8,326

Year Built

  • Built in 2005

HOA Fees

  • $387 Monthly HOA Fees

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 1,181 Sq Ft Home
  • 1-Story Property
  • City Views
  • Dishwasher

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Dryer
  • Washer

Parking

  • 1 Parking Space
  • Open Parking

Schools

  • Ps 206 Joseph F Lamb Elementary School
  • JHS 234 Arthur W Cunningham Middle School
  • James Madison High School

Additional Features

  • No Common Walls
  • Cooling Available

Listing and Financial Details

  • Legal Lot and Block 1313 / 7325
  • Assessor Parcel Number 07325-1313

Community Details

Overview

  • 2523 Condominium

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$8,326

Year Built

Built in 2005

Lot Details

0

HOA Fees

$387 per month

Listing Details

  • Property Type: Residential
  • Architectural Style: Other
  • Property SubType: Condominium
  • Property Condition: Excellent
  • Levels: One
  • Year Built: 2005
  • New Construction: No
  • Attribution Contact: 718-288-3835
  • Ownership: Condo
  • Subdivision Name: 2523 Condominium
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Dishwasher, Dryer, Refrigerator, Washer
  • Living Area Units: Square Feet
  • Common Walls: No Common Walls
  • Full Bathrooms: 2
  • Basement: See Remarks
  • Inclusions: A/C Units,Dishwasher,Dryer,Refrigerator,Washer
  • Entry Level: 1
  • Total Bedrooms: 2
  • Living Area: 1181
  • AtticDescription: See Remarks
  • SquareFootage: 1181.00
  • SquareFootageSource: Other

Exterior Features

  • Construction Materials: Other
  • View: City
  • View YN: Yes
  • FloodZoneReportYN: 0

Garage/Parking

  • Total Parking Spaces: 1
  • Attached Garage: No
  • Garage: No
  • Open Parking: Yes
  • Parking Description: Other

Utilities

  • Cooling: Yes
  • Heating: Other, See Remarks
  • Sewer: Other
  • Water Source: See Remarks
  • GarbageRemoval: Other
  • Hot Water: See Remarks

Condo/Co-op/Association

  • Association Fee: 387
  • Association Fee Frequency: Monthly
  • Senior Community: No
  • DevelopmentName: 2523 Condominium

Schools

  • Middle School: Jhs 234 Arthur W Cunningham

Lot Info

  • Parcel Number: 07325-1313
  • Property Attached: No

Rental Info

  • Lease Considered: No
  • Pets Allowed: Yes

Tax Info

  • Tax Block: 7325
  • Tax Lot: 1313
  • Tax Map Number: 07325-1313

MLS Schools

  • Elementary School: Ps 206 Joseph F Lamb
  • High School: James Madison High School
  • Middle School District: Brooklyn 22

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 26, 2023
Closed on
May 9, 2024
Sold by
Jun He Shu
Bought by
Korman Arthur and Puri Neha
Seller's Agent
Kelly Wu
RE/MAX Edge
Buyer's Agent
Non Member
NonMember
List Price
$680,000
Sold Price
$640,000
Premium/Discount to List
-$40,000
-5.88%
Views
1255
Current Estimated Value
$682,265

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$42,265
Avg. Annual Appreciation
4.51%
Original Mortgage
$448,000
Outstanding Balance
$441,610
Interest Rate
6.79%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$240,655

Purchase Details

Closed on
Apr 7, 2015
Sold by
Rafailova Inetta and Rakhamimov Eldar
Bought by
He Shu Jun

Purchase Details

Closed on
Mar 4, 2008
Sold by
2523-2527 Ocean Avenue Associates Llc
Bought by
Rafailova Inetta and Rakhamimov Eldar

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$339,000
Interest Rate
5.75%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Korman Arthur $640,000 --
Korman Arthur $640,000 --
He Shu Jun $473,000 --
He Shu Jun $473,000 --
Rafailova Inetta $424,000 --
Rafailova Inetta $424,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Korman Arthur $448,000
Closed Korman Arthur $448,000
Previous Owner Rafailova Inetta $339,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/09/2024 05/09/24 Sold $640,000 -5.9% $542 / Sq Ft
02/16/2024 02/16/24 Pending -- -- --
10/26/2023 10/26/23 For Sale $680,000 -- $576 / Sq Ft
Source: OneKey® MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $8,326 $79,900 $7,202 $72,698
2024 $8,326 $76,421 $7,202 $69,219
2023 $7,665 $73,780 $7,202 $66,578
2022 $5,822 $69,311 $7,202 $62,109
2021 $3,971 $53,063 $7,202 $45,861
2020 $2,909 $55,859 $7,202 $48,657
2019 $1,555 $55,859 $7,202 $48,657
2018 $295 $56,388 $7,203 $49,185
2017 $295 $53,716 $7,202 $46,514
2016 $299 $48,870 $7,203 $41,667
2015 $234 $47,502 $7,202 $40,300
2014 $234 $36,349 $7,202 $29,147
Source: Public Records

Agents Affiliated with this Home

  • Kelly Wu

    Seller's Agent in 2024

    Kelly Wu

    RE/MAX

    (917) 345-6368

    21 in this area

    211 Total Sales

    Kelly Wu
    Section Image

  • N

    Buyer's Agent in 2024

    Non Member

    NonMember

See All Agents

Map

Source: OneKey® MLS

MLS Number: KEY3512928

OneKey® MLS

APN: 07325-1313

New York Kings County Brooklyn 11229 Madison

2523 Ocean Ave Unit 5C, Brooklyn, NY

This home is located at 2523 Ocean Ave Unit 5C, Brooklyn, NY 11229 since 26 October 2023 and is currently estimated at $682,265, approximately $577 per square foot. This property was built in 2005. 2523 Ocean Ave Unit 5C is a home located in Kings County with nearby schools including P.S. 255 Barbara Reing School, Jhs 234 Arthur W Cunningham, and Success Academy Charter School - Bensonhurst.

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