THE CONDO BOOK PROJECT

Johnson Condominium

141 Johnson Avenue, Brooklyn, NY 11206

Overview

Units
6 residential
Subway
6 min walk to Montrose Av LLorimer St J M, 7 min
Principals
Nir Muvdi, Moshe Roth
Offering price
$5.97 million total

The sponsor of record is Mana Johns Dev LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 237 pages. The sponsor has filed 2 amendments, the latest in November 2022. The nearest other condo plan on file is Manhattan Condominium, next door.

Plan CD200232 · Rehab · accepted Nov 10, 2021 · AG record ↗

Compare

FigureThis building1682 Hancock26 units · 1.7 miaccepted 20211230 Bedford38 units · 1.8 miaccepted 2021
Average Offering PricePer Apartment$995,000In line$812,500$1.05M

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Unit mix, closings, budgets, finishes and the team, against 682 Hancock and 1230 Bedford, 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 recordedMar 31, 2022 – Jun 21, 2022

Sales recorded with the Department of Finance (ACRIS) through Jun 30, 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
1AMar 31, 2022$995,000——
1BApr 20, 2022$942,125——
3AMay 16, 2022$905,000——
3BMay 20, 2022$920,000——
2AJun 1, 2022$880,000——
2BJun 21, 2022$970,000——

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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
Mana Johns Dev LLC
Principals
Nir Muvdi, Moshe Roth
Construction lender
ICE Lender HoldingsLender on the mortgage and building loan agreement recorded February 2020 in ACRIS; $7.86 million recorded

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

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