1514 49th Street Condominium
1514 49th Street, Brooklyn, NY 11219
Overview
- Units
- 3 residential · 1 commercial
- Subway
- 10 min walk to 50 St D55 St D, 12 min
- Principals
- Shlomo Torn
- Average $/sf
- $306Homes in Schedule A, as first offered
- Common charges
- $301–$495 a monthSponsor's first-year estimate in Schedule A, 1/1/2021 - 12/31/2021
- Offering price
- $7 million total $2.4 million when first offered
- Floor plans
- Pages 157–161 of the plan
The sponsor of record is 1514 49 Bsd LLC, represented by Law Offices Of Hershy Itzkowitz, P.C.. The offering plan runs 330 pages. The sponsor has filed 2 amendments, the latest in April 2021. The nearest other condo plan on file is 1520 49th Street Condominium, next door.
Plan CD200052 · New · accepted Oct 29, 2020 · AG record ↗
Compare
| Figure | This building1 | 1455 47th23 units · 0.1 miaccepted 2020 | 2073 57th33 units · 0.9 miaccepted 2020 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.15Lowest | $0.24 | $0.25 |
| Average Offering PricePer Apartment | $800,000In line | $550,000 | $1M |
| Average PricePer Square Foot | $306Below peers | $313 | $497 |
| Property TaxesPer Square Foot / Month | $0.33Lowest | $0.47 | $0.48 |
| Average Unit SizeSquare Feet | 2,611 SFLargest | 1,755 SF | 2,014 SF |
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Unit mix, closings, budgets, finishes and the team, against 1455 47th and 2073 57th, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed67% of the homes in Schedule A | 2 of 3 |
| Closing prices vs. Schedule A2 homes: $2,300,000 at closing against $1,600,000 in Schedule A (p. 34) | +43.8% |
| Average closing price2 homes, on their Schedule A square feet | $412 / SF |
| Closingsfirst and latest recorded | Nov 9, 2021 – Jan 3, 2022 |
Sales recorded with the Department of Finance (ACRIS) through Jan 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 2 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 3 | Nov 9, 2021 | $1,500,000 | $800,000 p. 34 | +87.5% |
| 1 | Jan 3, 2022 | $800,000 | $800,000 p. 34 | 0% |
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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.
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
- 1514 49 Bsd LLC
- Principals
- Shlomo Torn
- Tax estimate
- Metropolitan Realty Exemptions, IncPrepared the first-year real estate tax projection
- Construction lender
- 1514 49 Funding, L.P.$3 million loan stated in the plan
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 1520 49th Street Condominiumnext door · 6 units · 2014
- 1524 49th Street Condominiumnext door · 3 units · 2006
- 1522 48th Street Condominiumnext door · 4 units · 2019
- 1526 48th Street Condominiumnext door · 4 units · 2008
- 1513 51st Street Condominiumnext door · 4 units · 2025
- 1551 49th Street Condominiumnext door · 8 units · 2016