THE CONDO BOOK PROJECT

132 Cambridge Place Condominium

132 Cambridge Place, Brooklyn, NY 11238

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Overview

Units
4 residential
Subway
3 min walk to Clinton-Washington Avs CFranklin Av C S, 9 min
Principals
Eliahu Nahman
Average $/sf
$1,370Homes in Schedule A, as first offered
Common charges
$348–$569 a monthSponsor's first-year estimate in Schedule A, January 1, 2017- December 31, 2017
Offering price
$6.46 million total

The sponsor of record is 132 Cambridge Management LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 322 pages. The sponsor has filed 3 amendments, the latest in August 2018. The nearest other condo plan on file is 207 St. James Place Condominium, next door.

Plan CD160241 · New · accepted Mar 2, 2017 · AG record ↗

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FigureThis building1359 7th24 units · 1.4 miaccepted 2017368 Gates34 units · 0.6 miaccepted 2016
Common ChargesPer Square Foot / Month$0.36In line$0.22$0.39
Average Offering PricePer Apartment$1.62MHighest$1.31M$1.17M
Average PricePer Square Foot$1,370Highest$1,163$991
Property TaxesPer Square Foot / Month$0.59In line$1.02$0.50
Average Unit SizeSquare Feet1,179 SFIn line1,129 SF1,179 SF

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Unit mix, closings, budgets, finishes and the team, against 359 7th and 368 Gates, 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: $6,055,938 at closing against $6,464,000 in Schedule A (p. 26)−6.3%
Average closing price4 homes, on their Schedule A square feet$1,284 / SF
Closingsfirst and latest recordedMay 25, 2018 – Nov 20, 2018

Sales recorded with the Department of Finance (ACRIS) through Dec 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 4 closings
HomeRecordedClosing priceSchedule ADifference
2May 25, 2018$1,379,000$1,379,000 p. 260%
4Jun 4, 2018$1,360,000$1,550,000 p. 26−12.3%
3Jun 18, 2018$1,535,000$1,535,000 p. 260%
1Nov 20, 2018$1,781,938$2,000,000 p. 26−10.9%

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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
132 Cambridge Management LLC
Principals
Eliahu Nahman
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Titan Capital ID$1.5 million recorded

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

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