THE CONDO BOOK PROJECT

104 Mlk Condominium

104 Martin Luther King Jr. Place, Brooklyn, NY 11206

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Overview

Units
10 residential
Subway
3 min walk to Myrtle-Willoughby Avs GFlushing Av G, 5 min
Developer
Empire Brooklyn
Principals
Joel Weiss
Average $/sf
$844Homes in Schedule A, as first offered
Common charges
$474–$707 a monthSponsor's first-year estimate in Schedule A, October 1, 2021 - August 31, 2022
Offering price
$10.1 million total $10 million when first offered

The sponsor of record is 104-106 Floyd St LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 300 pages. The sponsor has filed 2 amendments, the latest in January 2022. The nearest other condo plan on file is M.L.K. Condominium, next door.

Plan CD210014 · New · accepted May 6, 2021 · AG record ↗

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FigureThis building116 Bartlett210 units · 0.3 miaccepted 2020952 Bushwick310 units · 1.3 miaccepted 2021
Common ChargesPer Square Foot / Month$0.44In line$0.31$0.52
Average Offering PricePer Apartment$1.01MIn line$1.46M$900,500
Average PricePer Square Foot$844In line$820$933
Property TaxesPer Square Foot / Month$0.82Highest$0.02$0.59
Average Unit SizeSquare Feet1,197 SFIn line1,572 SF966 SF

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Unit mix, closings, budgets, finishes and the team, against 16 Bartlett and 952 Bushwick, 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.

Closings Pro

Homes closed90% of the homes in Schedule A9 of 10
Closing prices vs. Schedule A9 homes: $8,832,041 at closing against $8,850,000 in Schedule A (p. 30)−0.2%
Average closing price9 homes, on their Schedule A square feet$813 / SF
Closingsfirst and latest recordedOct 5, 2021 – Jul 15, 2026

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2026: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 9 closings
HomeRecordedClosing priceSchedule ADifference
2ROct 5, 2021$997,885$950,000 p. 30+5%
2LOct 7, 2021$999,000$950,000 p. 30+5.2%
5ROct 12, 2021$980,000$950,000 p. 30+3.2%
3LOct 13, 2021$988,894$950,000 p. 30+4.1%
3ROct 18, 2021$975,000$950,000 p. 30+2.6%
4LOct 28, 2021$963,538$950,000 p. 30+1.4%
4RNov 10, 2021$980,000$950,000 p. 30+3.2%
1LMar 3, 2022$1,323,725$1,250,000 p. 30+5.9%
5LJul 15, 2026$624,000$950,000 p. 30−34.3%

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Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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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
104-106 Floyd St LLC
Developer
Empire BrooklynReported by web.archive.org
Principals
Joel Weiss
Tax estimate
RE Tax ServicePrepared the first-year real estate tax projection

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

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