THE CONDO BOOK PROJECT

1490 Saint Johns Place Condominium

1490 Saint Johns Place, Brooklyn, NY 11213

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Overview

Units
8 residential
Subway
5 min walk to Crown Hts-Utica Av 3 4Sutter Av-Rutland Rd 3, 12 min
Principals
Sigmund Freund
Average $/sf
$1,003Homes in Schedule A, as first offered
Common charges
$259–$423 a monthSponsor's first-year estimate in Schedule A, Year Projected to Begin: July 1, 2021- June 30, 2022
Offering price
$5.51 million total

The sponsor of record is St. Johns Residence LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 338 pages. The nearest other condo plan on file is 1489 Sterling Place Condominium, next door.

Plan CD200119 · Rehab · accepted Dec 8, 2020 · AG record ↗

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FigureThis building11296 Park Place28 units · 0.3 miaccepted 2020573 Gates38 units · 1.4 miaccepted 2020
Common ChargesPer Square Foot / Month$0.48Lowest$0.86$0.63
Average Offering PricePer Apartment$689,375In line$697,490$615,250
Average PricePer Square Foot$1,003Below peers$1,029$1,016
Property TaxesPer Square Foot / Month$0.42In line$0.05$0.73
Average Unit SizeSquare Feet687 SFLarger678 SF606 SF

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Unit mix, closings, budgets, finishes and the team, against 1296 Park Place and 573 Gates, 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
St. Johns Residence LLC
Principals
Sigmund Freund
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
ICE Lender Holdings$2.4 million recorded

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

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