THE CONDO BOOK PROJECT

1152 47th Street Condominium

1152 47th Street, Brooklyn, NY 11219

Overview

Units
4 residential
Subway
3 min walk to 50 St DFort Hamilton Pkwy D, 4 min
Principals
Nahman Lichtenstein
Average $/sf
$591Homes in Schedule A, as first offered
Common charges
$204–$361 a monthSponsor's first-year estimate in Schedule A, September 1, 2022 - August 31, 2023
Offering price
$3 million total $5.44 million when first offered

The sponsor of record is 1146 47th LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 306 pages. The nearest other condo plan on file is 1150 47th Street Condominium, next door.

Plan CD200196 · New · accepted Jul 11, 2022 · AG record ↗

Compare

FigureThis building11241 43rd24 units · 0.2 miaccepted 20224529 18th33 units · 1 miaccepted 2023
Common ChargesPer Square Foot / Month$0.20Below peers$0.23$0.23
Average Offering PricePer Apartment$748,750Below peers$800,000$858,000
Average PricePer Square Foot$591In line$649$580
Property TaxesPer Square Foot / Month$0.48In line$0.88$0.43
Average Unit SizeSquare Feet1,266 SFIn line1,233 SF1,480 SF

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Unit mix, closings, budgets, finishes and the team, against 1241 43rd and 4529 18th, 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 A4 of 4
Closing prices vs. Schedule A4 homes: $3,043,231 at closing against $2,995,000 in Schedule A (p. 33)+1.6%
Average closing price4 homes, on their Schedule A square feet$601 / SF
Closingsfirst and latest recordedDec 1, 2022 – Jan 16, 2024

Sales recorded with the Department of Finance (ACRIS) through Jul 31, 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 4 closings
HomeRecordedClosing priceSchedule ADifference
2Dec 1, 2022$738,231$725,000 p. 33+1.8%
3Jan 12, 2023$725,000$725,000 p. 330%
4Sep 12, 2023$705,000$670,000 p. 33+5.2%
1Jan 16, 2024$875,000$875,000 p. 330%

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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
1146 47th LLC
Principals
Nahman Lichtenstein
Tax estimate
Empire Consulting Service, IncPrepared the first-year real estate tax projection

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

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