THE CONDO BOOK PROJECT

1415 46th Street Condominium

1415 46th Street, Brooklyn, NY 11219

Overview

Units
6 residential
Subway
10 min walk to 50 St DFort Hamilton Pkwy D, 11 min
Principals
Rafael A. Mossberg
Offering price
$4.8 million total $4.8 million when first offered

The sponsor of record is 1415 Realty Ways LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 294 pages. The sponsor has filed 2 amendments, the latest in September 2017. The nearest other condo plan on file is 1427-1431 46th Street Condominium, next door.

Plan CD160398 · New · accepted Jul 27, 2017 · AG record ↗

Compare

FigureThis building11737 81st26 units · 1.8 miaccepted 201796538 units · 0.7 miaccepted 2017
Average Offering PricePer Apartment$800,000Above peers$716,000$564,000

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Unit mix, closings, budgets, finishes and the team, against 1737 81st and 965, 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 recordedDec 11, 2017 – May 7, 2020

Sales recorded with the Department of Finance (ACRIS) through Mar 31, 2022: 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 9 closings
HomeRecordedClosing priceSchedule ADifference
3LDec 11, 2017$967,338one deed, 2 homes——
SADec 11, 2017$967,338one deed, 2 homes——
2LJan 11, 2018$707,684one deed, 2 homes——
SBJan 11, 2018$707,684one deed, 2 homes——
2RJan 17, 2018$595,676one deed, 2 homes——
SEJan 17, 2018$595,676one deed, 2 homes——
1RMar 13, 2018$875,695——
1LApr 25, 2018$995,000——
3RMay 7, 2020$1,221,900——

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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
1415 Realty Ways LLC
Principals
Rafael A. Mossberg
Tax estimate
Empire Consulting Service Inc.Prepared the first-year real estate tax projection

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

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