THE CONDO BOOK PROJECT

12 Broome Street Condominium

12 Broome Street, Brooklyn, NY 11222

Overview

Units
6 residential
Subway
6 min walk to Nassau Av GGraham Av L, 12 min
Principals
Eran Malka
Offering price
$6 million total

The sponsor of record is Broome Residence LLC**, represented by Boris Saks, Esq. Pllc. The offering plan runs 210 pages. The sponsor has filed 1 amendment, the latest in November 2023. The nearest other condo plan on file is 38 Broome Street Condominium, next door.

Plan CD230025 · New · accepted Sep 6, 2023 · AG record ↗

Compare

FigureThis building1The Lorimer Collective27 units · 0.5 miaccepted 2023179 Jackson36 units · 0.4 miaccepted 2024
Average Offering PricePer Apartment$1MLowest$1.27M$1.26M

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Unit mix, closings, budgets, finishes and the team, against The Lorimer Collective and 179 Jackson, 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 the plan6 of 6
Closingsfirst and latest recordedJan 30, 2024 – Mar 5, 2024

Sales recorded with the Department of Finance (ACRIS) through Mar 31, 2024: 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 6 closings
HomeRecordedClosing priceSchedule ADifference
4Jan 30, 2024$1,395,000——
3AFeb 8, 2024$865,513——
1Feb 9, 2024$1,750,000——
3BFeb 14, 2024$825,000——
2AFeb 28, 2024$800,000——
2BMar 5, 2024$750,000——

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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
Broome Residence LLC**
Principals
Eran Malka
Construction lenders
The Wheatley Harbor, The Gross Family Holdings$3.6 million recorded

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

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