THE CONDO BOOK PROJECT

Park Living Condominium

1374 42nd Street, Brooklyn, NY 11219

Overview

Units
4 residential · 3 commercial
Subway
11 min walk to Church Av F GFort Hamilton Pkwy D, 11 min
Principals
Joshua Rubenstein
Average $/sf
$993Homes in Schedule A, as first offered
Common charges
$588–$769 a monthSponsor's first-year estimate in Schedule A, October 1, 2023 - September 30, 2024
Offering price
$9.1 million total

The sponsor of record is Park Living Condos LLC, represented by The Law Office Of Jay Lichtman, PC. The offering plan runs 337 pages. The nearest other condo plan on file is 1350 42nd Street Condominium, next door.

Plan CD230009 · New · accepted Aug 15, 2023 · AG record ↗

Compare

FigureThis building14720 15th26 units · 0.3 miaccepted 20231476 45th34 units · 0.2 miaccepted 2023
Common ChargesPer Square Foot / Month$0.49Highest$0.25$0.24
Average Offering PricePer Apartment$1.32MIn line$1.16M$1.95M
Average PricePer Square Foot$993In line$1,000$925
Average Unit SizeSquare Feet1,335 SFIn line1,160 SF2,109 SF

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Unit mix, closings, budgets, finishes and the team, against 4720 15th and 1476 45th, 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: $4,859,841 at closing against $5,300,000 in Schedule A (p. 33)−8.3%
Average closing price4 homes, on their Schedule A square feet$910 / SF
Closingsfirst and latest recordedApr 17, 2024 – Jun 20, 2024

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 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
2Apr 17, 2024$997,885$1,200,000 p. 33−16.8%
3Apr 19, 2024$1,272,813$1,200,000 p. 33+6.1%
1May 23, 2024$789,144$1,200,000 p. 33−34.2%
4Jun 20, 2024$1,800,000$1,700,000 p. 33+5.9%

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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
Park Living Condos LLC
Principals
Joshua Rubenstein
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Golden Bridge$5.3 million recorded

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

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