THE CONDO BOOK PROJECT

1511 Pacific Street Condominium

1511 Pacific Street, Brooklyn, NY 11213

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Overview

Units
2 residential
Subway
4 min walk to Kingston-Throop Avs CKingston Av 3, 12 min
Principals
Nir Muvdi
Average $/sf
$1,263Homes in Schedule A, as first offered
Common charges
$290 a monthSponsor's first-year estimate in Schedule A, October 1, 2022 - September 30, 2023
Offering price
$2.7 million total

The sponsor of record is Estates At Pacific LLC, represented by The Law Office Of Claudia V. Murdoch, P.C.. The offering plan runs 211 pages. The sponsor has filed 2 amendments, the latest in September 2024. The nearest other condo plan on file is 1450 Pacific Condominium, next door.

Plan CD210252 · New · accepted Sep 13, 2022 · AG record ↗

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FigureThis building1360 Tompkins24 units · 0.6 miaccepted 2022680 Greene34 units · 0.8 miaccepted 2022
Common ChargesPer Square Foot / Month$0.27Lowest$0.42$0.54
Average Offering PricePer Apartment$1.35MHighest$1.1M$1.01M
Average PricePer Square Foot$1,263Above peers$1,166$1,174
Property TaxesPer Square Foot / Month$0.25Lowest$0.35$0.73
Average Unit SizeSquare Feet1,069 SFLarger944 SF865 SF

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Unit mix, closings, budgets, finishes and the team, against 360 Tompkins and 680 Greene, 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 A2 of 2
Closing prices vs. Schedule A2 homes: $2,110,000 at closing against $2,700,000 in Schedule A (p. 32)−21.9%
Average closing price2 homes, on their Schedule A square feet$987 / SF
Closingsfirst and latest recordedMay 17, 2024 – Nov 1, 2024

Sales recorded with the Department of Finance (ACRIS) through May 31, 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 2 closings
HomeRecordedClosing priceSchedule ADifference
1May 17, 2024$1,055,000$1,350,000 p. 32−21.9%
2Nov 1, 2024$1,055,000$1,350,000 p. 32−21.9%

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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
Estates At Pacific LLC
Principals
Nir Muvdi
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection

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

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