THE CONDO BOOK PROJECT

111 Nelson Street Condominium

111 Nelson Street, Brooklyn, NY 11231

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Overview

Units
3 residential
Subway
7 min walk to Smith-9 Sts F GCarroll St F G, 9 min
Principals
Angeline Huang
Average $/sf
$1,332Homes in Schedule A, as first offered
Common charges
$464–$979 a monthSponsor's first-year estimate in Schedule A, July 1, 2024 - June 30, 2025
Offering price
$2.92 million total $3.69 million when first offered

The sponsor of record is 111 Nelson Development LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 305 pages. The sponsor has filed 4 amendments, the latest in August 2025. The nearest other condo plan on file is 100 Luquer Street Condominium, next door.

Plan CD230042 · Rehab · accepted Mar 12, 2024 · AG record ↗

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FigureThis building165 Gates24 units · 1.9 miaccepted 2024Six Garfield Place33 units · 0.9 miaccepted 2024
Common ChargesPer Square Foot / Month$0.99Above peers$0.56$0.97
Average Offering PricePer Apartment$974,333Below peers$1.14M$1.84M
Average PricePer Square Foot$1,332Below peers$1,338$1,584
Property TaxesPer Square Foot / Month$0.50Lowest$0.72$1.85
Average Unit SizeSquare Feet731 SFSmaller851 SF1,163 SF

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Unit mix, closings, budgets, finishes and the team, against 65 Gates and Six Garfield Place, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $2,567,000 at closing against $2,923,000 in Schedule A (p. 47)−12.2%
Average closing price3 homes, on their Schedule A square feet$1,170 / SF
Closingsfirst and latest recordedJun 26, 2024 – Sep 22, 2025

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 3 closings
HomeRecordedClosing priceSchedule ADifference
3Jun 26, 2024$963,000$1,149,000 p. 47−16.2%
2Aug 28, 2024$679,000$679,000 p. 470%
1Sep 22, 2025$925,000$1,095,000 p. 47−15.5%

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Closings are for subscribers

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
111 Nelson Development LLC
Principals
Angeline Huang
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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