THE CONDO BOOK PROJECT

15 East 19th Street Condominium

15 East 19th Street, Brooklyn, NY 11226

Overview

Units
33 residential
Subway
2 min walk to Church Av B QParkside Av Q, 9 min
Principals
Boaz Gilad
Average $/sf
$874Homes in Schedule A, as first offered
Offering price
$21.1 million total

The sponsor of record is East 19 Bl LLC, represented by Meister Seelig & Fein LLP. The offering plan runs 309 pages. The sponsor has filed 4 amendments, the latest in May 2021. The nearest other condo plan on file is 26 East 19th Street Condominium, next door.

Plan CD180106 · New · accepted Nov 6, 2018 · AG record ↗

Compare

FigureThis building126 East 19th226 units · 0 miaccepted 2018554 4th340 units · 2 miaccepted 2017
Common ChargesPer Square Foot / Month$0.78 ⚠Above peers$0.68$0.64
Average Offering PricePer Apartment$639,697In line$613,385$742,079
Average PricePer Square Foot$874Below peers$930$883
Average Unit SizeSquare Feet732 SFIn line660 SF839 SF

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Unit mix, closings, budgets, finishes and the team, against 26 East 19th and 554 4th, 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.

⚠ Read from a partly legible Schedule B.

Closings Pro

Homes closed100% of the homes in Schedule A33 of 33
Closing prices vs. Schedule A33 homes: $19,929,199 at closing against $21,110,000 in Schedule A (p. 35)−5.6%
Average closing price33 homes, on their Schedule A square feet$825 / SF
Closingsfirst and latest recordedSep 20, 2019 – Oct 15, 2021

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2026: 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 33 closings
HomeRecordedClosing priceSchedule ADifference
1CSep 20, 2019$499,999$530,000 p. 35−5.7%
BCOct 3, 2019$825,000$825,000 p. 350%
BDOct 8, 2019$855,000$855,000 p. 350%
1BOct 18, 2019$530,000$555,000 p. 35−4.5%
3AOct 25, 2019$550,000$590,000 p. 35−6.8%
6DNov 7, 2019$835,000$835,000 p. 350%
2ENov 13, 2019$495,000$520,000 p. 35−4.8%
7DDec 6, 2019$845,000$850,000 p. 35−0.6%
3BDec 9, 2019$560,000$585,000 p. 35−4.3%
2DDec 23, 2019$485,000$500,000 p. 35−3%
4AJan 15, 2020$550,000$610,000 p. 35−9.8%
1DJan 21, 2020$490,000$485,000 p. 35+1%
3EJan 22, 2020$525,000$560,000 p. 35−6.2%
4DJan 24, 2020$775,000$815,000 p. 35−4.9%
1EJan 27, 2020$469,200$505,000 p. 35−7.1%
3DFeb 14, 2020$528,000$545,000 p. 35−3.1%
6AFeb 18, 2020$570,000$630,000 p. 35−9.5%
5DFeb 19, 2020$805,000$825,000 p. 35−2.4%
5AMay 22, 2020$565,000$620,000 p. 35−8.9%
2CJun 10, 2020$530,000$545,000 p. 35−2.8%
3CJun 26, 2020$555,000$585,000 p. 35−5.1%
2AJul 7, 2020$530,000$580,000 p. 35−8.6%
5BAug 12, 2020$570,000$610,000 p. 35−6.6%
4CAug 27, 2020$750,000$785,000 p. 35−4.5%
6BOct 1, 2020$580,000$620,000 p. 35−6.5%
4BNov 2, 2020$555,000$600,000 p. 35−7.5%
1AJan 29, 2021$480,000$570,000 p. 35−15.8%
7CFeb 24, 2021$785,000$820,000 p. 35−4.3%
2BFeb 26, 2021$518,000$570,000 p. 35−9.1%
BBMay 7, 2021$375,000$425,000 p. 35−11.8%
6CMay 21, 2021$775,000$805,000 p. 35−3.7%
5CJun 7, 2021$749,000$795,000 p. 35−5.8%
BAOct 15, 2021$420,000$560,000 p. 35−25%

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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
East 19 Bl LLC
Principals
Boaz Gilad
Tax estimate
EmpirePrepared the first-year real estate tax projection
Construction lender
Yta$9 million loan stated in the plan

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

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