THE CONDO BOOK PROJECT

Crown-Bergen Condominium

1062 Bergen Street, Brooklyn, NY 11216

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Overview

Units
16 residential
Subway
7 min walk to Nostrand Av A CPark Pl S, 9 min
Principals
Lyndon Chin, May Wan Chu
Average $/sf
$358Homes in Schedule A, as first offered
Common charges
$196–$300 a monthSponsor's first-year estimate in Schedule A, April 1, 2001 - March 31, 2002
Offering price
$2.9 million total

The sponsor of record is Ctc Group Inc., represented by Chu & Partners. The offering plan runs 205 pages. The sponsor has filed 1 amendment, the latest in July 2001. The nearest other condo plan on file is 1070 Bergen Street Condominium, next door.

Plan CD000136 · New · accepted Feb 22, 2001 · AG record ↗

Compare

FigureThis building1Graham225 units · 1.2 miaccepted 200194-96 Skillman312 units · 1.4 miaccepted 2004
Common ChargesPer Square Foot / Month$0.45Highest$0.22$0.11
Average Offering PricePer Apartment$180,997Lowest$419,200$339,167
Average PricePer Square Foot$358In line$361$235
Average Unit SizeSquare Feet505 SFSmallest1,162 SF1,446 SF

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Unit mix, closings, budgets, finishes and the team, against Graham and 94-96 Skillman, 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 closed88% of the homes in Schedule A14 of 16
Closing prices vs. Schedule A14 homes: $3,464,248 at closing against $2,527,750 in Schedule A (p. 15)+37%
Average closing price14 homes, on their Schedule A square feet$493 / SF
Closingsfirst and latest recordedJul 26, 2002 – May 7, 2020

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 14 closings
HomeRecordedClosing priceSchedule ADifference
4DJul 26, 2002$130,000$160,000 p. 15−18.7%
3CFeb 28, 2003$130,000$160,000 p. 15−18.7%
4CSep 22, 2004$175,000$160,000 p. 15+9.4%
1BOct 21, 2005$185,000$182,700 p. 15+1.3%
1COct 21, 2005$185,000$160,000 p. 15+15.6%
2COct 21, 2005$185,000$160,000 p. 15+15.6%
1DMar 8, 2007$240,000$160,000 p. 15+50%
3DMar 2, 2010$375,000$160,000 p. 15+134.4%
2DApr 23, 2010$300,000$160,000 p. 15+87.5%
2AAug 7, 2014$250,000$185,500 p. 15+34.8%
3BAug 7, 2014$229,248$231,350 p. 15−0.9%
4BApr 15, 2015$290,000$231,350 p. 15+25.4%
2BMar 20, 2017$305,000$231,350 p. 15+31.8%
3AMay 7, 2020$485,000$185,500 p. 15+161.5%

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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
Ctc Group Inc.
Principals
Lyndon Chin, May Wan Chu
Tax estimate
Capital Appraisal Services, Inc.Prepared the first-year real estate tax projection

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

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