THE CONDO BOOK PROJECT

11a Somers Street Condominium

11a Somers Street, Brooklyn, NY 11233

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Overview

Units
4 residential
Subway
1 min walk to Rockaway Av CChauncey St J Z, 9 min
Average $/sf
$926Homes in Schedule A, as first offered
Common charges
$434–$583 a monthSponsor's first-year estimate in Schedule A, May 1, 2021 - April 30, 2022
Offering price
$3.23 million total

The sponsor of record is Edm Sommers LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 306 pages. The sponsor has filed 1 amendment, the latest in March 2022. The nearest other condo plan on file is 190 Macdougal Street Condominium, next door.

Plan CD200201 · New · accepted Mar 8, 2021 · AG record ↗

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FigureThis building1483 Marion23 units · 0.3 miaccepted 2021Bleecker36 units · 1.2 miaccepted 2021
Common ChargesPer Square Foot / Month$0.55In line$0.27$0.65
Average Offering PricePer Apartment$807,500In line$1.17M$624,667
Average PricePer Square Foot$926Below peers$1,087$990
Property TaxesPer Square Foot / Month$1.01In line$0.67$1.02
Average Unit SizeSquare Feet872 SFIn line1,076 SF631 SF

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Unit mix, closings, budgets, finishes and the team, against 483 Marion and Bleecker, 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 closed75% of the homes in Schedule A3 of 4
Closing prices vs. Schedule A3 homes: $2,039,482 at closing against $2,485,000 in Schedule A (p. 31)−17.9%
Average closing price3 homes, on their Schedule A square feet$785 / SF
Closingsfirst and latest recordedApr 21, 2023 – Dec 5, 2023

Sales recorded with the Department of Finance (ACRIS) through Jan 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 3 closings
HomeRecordedClosing priceSchedule ADifference
4Apr 21, 2023$640,794$795,000 p. 31−19.4%
1Jul 5, 2023$763,688$895,000 p. 31−14.7%
3Dec 5, 2023$635,000$795,000 p. 31−20.1%

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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
Edm Sommers LLC
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Hampton PartnersLender on the mortgage and building loan agreement recorded November 2018 in ACRIS; $2.45 million recorded

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

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