THE CONDO BOOK PROJECT

Park Place Condominium

145 Park Place, Brooklyn, NY 11219

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Overview

Units
47 residential · 26 parking · 1 commercial
Subway
2 min walk to 7 Av B QGrand Army Plaza 2 3, 5 min
Developer
Canyon-Johnson Urban Fund, L.P.
Principals
K. Robert Tumer, Thomas Anderson
Offering price
$48 million total

The sponsor of record is Cjuf-Anderson Park Place, LLC, represented by Loeb And Loeb, LLP. The offering plan runs 330 pages. The sponsor has filed 16 amendments, the latest in June 2009. The nearest other condo plan on file is Vermeil Condominium, next door.

Plan CD050021 · New · accepted Jun 16, 2005 · AG record ↗

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FigureThis building1Carriage House On The Slope224 units · 1.2 miaccepted 2005Elan332 units · 0.6 miaccepted 2007
Average Offering PricePer Apartment$1.02MAbove peers$787,917$924,906

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Unit mix, closings, budgets, finishes and the team, against Carriage House On The Slope and Elan, 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.

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
Cjuf-Anderson Park Place, LLC
Developer
Canyon-Johnson Urban Fund, L.P.
Principals
K. Robert Tumer, Thomas Anderson
Tax estimate
Sonnenschein, Sherman & Deutsch, LLPPrepared the first-year real estate tax projection

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

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