THE CONDO BOOK PROJECT

147 14th Street Condominium

147 14th Street, Brooklyn, NY 11215

Overview

Units
3 residential
Subway
6 min walk to Prospect Av R4 Av-9 St F G R, 6 min
Average $/sf
$1,205Homes in Schedule A, as first offered
Common charges
$376–$496 a monthSponsor's first-year estimate in Schedule A, September 1, 2020 - August 31, 2021
Offering price
$4.76 million total

The sponsor of record is 147 14th Street LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 302 pages. The sponsor has filed 1 amendment, the latest in April 2020. The nearest other condo plan on file is 145 14th Street Condominium, next door.

Plan CD190179 · New · accepted Feb 13, 2020 · AG record ↗

Compare

FigureThis building1149 14th23 units · 0 miaccepted 2020270 12th34 units · 0.2 miaccepted 2020
Common ChargesPer Square Foot / Month$0.34In line$0.32$0.41
Average Offering PricePer Apartment$1.59MIn line$1.66M$1.14M
Average PricePer Square Foot$1,205Above peers$1,122$1,162
Property TaxesPer Square Foot / Month$0.48In line$0.43$0.82
Average Unit SizeSquare Feet1,316 SFIn line1,477 SF979 SF

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Unit mix, closings, budgets, finishes and the team, against 149 14th and 270 12th, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $4,845,852 at closing against $4,759,000 in Schedule A (p. 38)+1.8%
Average closing price3 homes, on their Schedule A square feet$1,227 / SF
Closingsfirst and latest recordedJul 2, 2020 – Jul 15, 2020

Sales recorded with the Department of Finance (ACRIS) through May 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 3 closings
HomeRecordedClosing priceSchedule ADifference
2Jul 2, 2020$1,344,090$1,320,000 p. 38+1.8%
3Jul 10, 2020$1,771,755$1,740,000 p. 38+1.8%
1Jul 15, 2020$1,730,007$1,699,000 p. 38+1.8%

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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
147 14th Street LLC
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection

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

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