THE CONDO BOOK PROJECT

105 Lexington Avenue Condominium

105 Lexington Avenue, Brooklyn, NY 11238

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Overview

Units
31 residential · 8 storage · 3 commercial
Subway
5 min walk to Classon Av GBedford-Nostrand Avs G, 7 min
Average $/sf
$589Homes in Schedule A, as first offered
Common charges
$411–$905 a monthSponsor's first-year estimate in Schedule A, COMMENCING March 1, 2009
Offering price
$22.9 million total

The sponsor of record is Hrcf-Ldr Lexington, LLC, represented by Raphael And Marks Attorneys At Law. The offering plan runs 572 pages. The sponsor has filed 9 amendments, the latest in March 2013. The nearest other condo plan on file is 95 Lexington Avenue Condominium, next door.

Plan CD070263 · New · accepted Aug 1, 2007 · AG record ↗

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FigureThis building1The Absolute235 units · 0.5 miaccepted 2007Clinton Lofts Condo / F/K/A Retro316 units · 0.6 miaccepted 2007
Common ChargesPer Square Foot / Month$0.38In line$0.36$0.78
Average Offering PricePer Apartment$761,938Highest$556,514$548,125
Average PricePer Square Foot$589In line$560$589
Property TaxesPer Square Foot / Month$0.19Above peers$0.03$0.17
Average Unit SizeSquare Feet1,294 SFLargest995 SF931 SF

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Unit mix, closings, budgets, finishes and the team, against The Absolute and Clinton Lofts Condo / F/K/A Retro, 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 closed100% of the homes in Schedule A32 of 32
Closing prices vs. Schedule A32 homes: $20,482,849 at closing against $24,382,000 in Schedule A (p. 144)−16%
Average closing price32 homes, on their Schedule A square feet$495 / SF
Closingsfirst and latest recordedMay 19, 2009 – Jul 23, 2013

Sales recorded with the Department of Finance (ACRIS) through Apr 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 32 closings
HomeRecordedClosing priceSchedule ADifference
1AMay 19, 2009$800,000$732,000 p. 144+9.3%
1HJun 1, 2009$545,000$682,000 p. 144−20.1%
4CJun 9, 2009$950,000$995,000 p. 144−4.5%
2DJun 18, 2009$530,000$682,000 p. 144−22.3%
1BJul 16, 2009$560,038$682,000 p. 144−17.9%
2BSep 3, 2009$560,038$692,000 p. 144−19.1%
4ASep 23, 2009$992,794$995,000 p. 144−0.2%
1FFeb 11, 2010$485,706$641,000 p. 144−24.2%
2FMar 23, 2010$481,650$652,000 p. 144−26.1%
3AApr 2, 2010$600,000$788,000 p. 144−23.9%
3FApr 14, 2010$515,000$672,000 p. 144−23.4%
2EApr 15, 2010$456,300$656,000 p. 144−30.4%
2GMay 7, 2010$481,650$667,000 p. 144−27.8%
3GJul 2, 2010$488,395$687,000 p. 144−28.9%
2HAug 4, 2010$476,580$682,000 p. 144−30.1%
3BAug 13, 2010$600,768$712,000 p. 144−15.6%
1GAug 20, 2010$540,000$682,000 p. 144−20.8%
3EMay 10, 2011$471,510$677,000 p. 144−30.4%
4HMay 25, 2011$850,239$999,000 p. 144−14.9%
4EJun 9, 2011$850,000$959,000 p. 144−11.4%
3HJun 15, 2011$495,000$692,000 p. 144−28.5%
4DJul 23, 2012$855,000$969,000 p. 144−11.8%
4FJul 30, 2012$827,483$959,000 p. 144−13.7%
4BAug 31, 2012$890,000$970,000 p. 144−8.2%
3DSep 4, 2012$600,000$702,000 p. 144−14.5%
3CSep 18, 2012$612,000$712,000 p. 144−14%
2AJan 15, 2013$665,000$763,000 p. 144−12.8%
1CJun 4, 2013$608,000$687,000 p. 144−11.5%
1DJun 17, 2013$611,000$672,000 p. 144−9.1%
2CJun 17, 2013$661,863$697,000 p. 144−5%
4GJun 25, 2013$999,000$979,000 p. 144+2%
1EJul 23, 2013$422,838$646,000 p. 144−34.5%

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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
Hrcf-Ldr Lexington, LLC
Tax estimate
The Mazursky GroupPrepared the first-year real estate tax projection
Construction lender
The Community Preservation Corporation$12.8 million recorded

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

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