112 Summit Street Condominium
112 Summit Street, Brooklyn, NY 11231
Overview
- Units
- 3 residential
- Subway
- 11 min walk to Carroll St F GSmith-9 Sts F G, 14 min
- Principals
- Gino Vitale
- Offering price
- $6.2 million total
The sponsor of record is 112 Summit, LLC, represented by Paul A. Leff, Esq.. The offering plan runs 246 pages. The sponsor has filed 1 amendment, the latest in November 2018. The nearest other condo plan on file is 110 Summit Street Condominium, next door.
Plan CD170360 · Rehab · accepted Sep 5, 2018 · AG record ↗
Compare
| Figure | This building1 | 585 10th23 units · 1.6 miaccepted 2018 | 315 6th33 units · 1.2 miaccepted 2020 |
|---|---|---|---|
| Average Offering PricePer Apartment | $2.07MAbove peers | $1.88M | $1.98M |
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Unit mix, closings, budgets, finishes and the team, against 585 10th and 315 6th, cited to the offering plans. No credit card required.
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- 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 the plan | 3 of 3 |
| Closingsfirst and latest recorded | Feb 28, 2019 – May 29, 2019 |
Sales recorded with the Department of Finance (ACRIS) through Oct 31, 2020: 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
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 1 | Feb 28, 2019 | $1,850,000 | — | — |
| 3 | Apr 18, 2019 | $1,884,000 | — | — |
| 2 | May 29, 2019 | $1,225,000 | — | — |
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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.
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
- 112 Summit, LLC
- Principals
- Gino Vitale
- Counsel
- Paul A. Leff, Esq.
- Construction lender
- Lakeland Bank$2.16 million recorded
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 110 Summit Street Condominiumnext door · 3 units · 2020
- 102 Summit Street Condominiumnext door · 3 units · 2022
- 100 Summit Street Condominiumnext door · 3 units · 2017
- 49-51 Woodhull Street Condominiumnext door · 10 units · 2009
- 35 Woodhull Street Condominiumnext door · 3 units · 2011
- 128 Summit Street Condominiumnext door · 3 units · 2026