THE CONDO BOOK PROJECT

Villas At India

116 India Street, Brooklyn, NY 11222

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Overview

Units
7 residential
Subway
1 min walk to Greenpoint Av GNassau Av G, 11 min
Principals
Arie Bar Chaim
Average $/sf
$1,361Homes in Schedule A, as first offered
Offering price
$6.37 million total

The sponsor of record is 116 India Street Villa LLC, represented by Law Office Of Hershy Itzkowitz, Esq. The offering plan runs 310 pages. The sponsor has filed 3 amendments, the latest in March 2022. The nearest other condo plan on file is 114 India Condominium, next door.

Plan CD170380 · New · accepted Nov 18, 2019 · AG record ↗

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FigureThis building1191 Withers26 units · 1.2 miaccepted 2019Ainslie Street Condominiums37 units · 1.4 miaccepted 2020
Common ChargesPer Square Foot / Month$0.60Below peers$0.70$0.61
Average Offering PricePer Apartment$852,143Below peers$925,000$950,714
Average PricePer Square Foot$1,361In line$1,331$1,480
Average Unit SizeSquare Feet626 SFSmaller695 SF642 SF

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Unit mix, closings, budgets, finishes and the team, against 191 Withers and Ainslie Street Condominiums, 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 A7 of 7
Closing prices vs. Schedule A7 homes: $6,130,500 at closing against $5,965,000 in Schedule A (p. 27)+2.8%
Average closing price7 homes, on their Schedule A square feet$1,398 / SF
Closingsfirst and latest recordedAug 30, 2021 – Oct 27, 2022

Sales recorded with the Department of Finance (ACRIS) through Jul 31, 2025: 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 7 closings
HomeRecordedClosing priceSchedule ADifference
4Aug 30, 2021$730,000$785,000 p. 27−7%
5Aug 31, 2021$680,000$690,000 p. 27−1.4%
7Sep 1, 2021$680,000$690,000 p. 27−1.4%
2Sep 13, 2021$739,000$745,000 p. 27−0.8%
6Oct 1, 2021$755,000$785,000 p. 27−3.8%
3Oct 19, 2021$646,500$675,000 p. 27−4.2%
1Oct 27, 2022$1,900,000$1,595,000 p. 27+19.1%

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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
116 India Street Villa LLC
Principals
Arie Bar Chaim
Tax estimate
Metropolitan Realty Exemptions, IncPrepared the first-year real estate tax projection
Construction lender
Ontario Wealth Management Corporation$2.35 million recorded

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

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