THE CONDO BOOK PROJECT

7 Metrotech Condominium

101 Willoughby Street, Brooklyn, NY 11201

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Overview

Units
249 residential · 1 parking · 2 commercial
Subway
1 min walk to Jay St-MetroTech A C F RHoyt St 2 3, 3 min
Developer
Sickles Holding LLC
Principals
David Bistricer, Eva Schwimmer, Morris Bistricer, Sam Levinson
Offering price
$247 million total

The sponsor of record is Metrotech, LLC I, represented by John A. Dandola Attorney At Law. The offering plan runs 598 pages. The sponsor has filed 23 amendments, the latest in December 2015. The nearest other condo plan on file is Bridge Street Condominium, next door.

Plan CD060318 · New · accepted Aug 22, 2006 · AG record ↗

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FigureThis building1One Brooklyn Bridge Park2449 units · 0.8 miaccepted 2007Toren3240 units · 0.1 miaccepted 2008
Average Offering PricePer Apartment$991,839In line$1.31M$642,026

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Unit mix, closings, budgets, finishes and the team, against One Brooklyn Bridge Park and Toren, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Brooklyn plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Budget

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

Team

Sponsor
Metrotech, LLC I
Developer
Sickles Holding LLC
Principals
David Bistricer, Eva Schwimmer, Morris Bistricer, Sam Levinson
Tax estimate
Tuchman, Katz, Schwartz, Gelles, Korngold & Weiss, LLPPrepared the first-year real estate tax projection
Construction lender
Column Financial$146.7 million recorded

From our research: Do NYC Developers Rehire the Same Firms?

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