THE CONDO BOOK PROJECT

153 Chauncey Street Condominium

153 Chauncey Street, Brooklyn, NY 11233

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Overview

Units
16 residential · 11 storage
Subway
3 min walk to Utica Av A CRalph Av C, 10 min
Principals
Marc Chemtob, David Chemtob, Samuel Kairy
Average $/sf
$1,042Homes in Schedule A, as first offered
Offering price
$11.1 million total $9.91 million when first offered

The sponsor of record is 153 Chauncey LLC, represented by Holland & Knight LLP. The offering plan runs 394 pages. The sponsor has filed 2 amendments, the latest in May 2023. The nearest other condo plan on file is 194 Bainbridge Street Condominium, next door.

Plan CD210169 · Rehab · accepted May 6, 2022 · AG record ↗

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FigureThis building1764 St. John'S Place212 units · 1.4 miaccepted 2022373 Palmetto38 units · 1.5 miaccepted 2021
Common ChargesPer Square Foot / Month$0.70In line$1.09$0.38
Average Offering PricePer Apartment$685,000Above peers$536,333$672,500
Average PricePer Square Foot$1,042In line$1,130$1,014
Average Unit SizeSquare Feet657 SFIn line475 SF663 SF

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Unit mix, closings, budgets, finishes and the team, against 764 St. John'S Place and 373 Palmetto, 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 A16 of 16
Closing prices vs. Schedule A16 homes: $9,015,247 at closing against $10,960,000 in Schedule A (p. 49)−17.7%
Average closing price16 homes, on their Schedule A square feet$857 / SF
Closingsfirst and latest recordedJan 4, 2023 – Jan 26, 2024

Sales recorded with the Department of Finance (ACRIS) through Aug 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 16 closings
HomeRecordedClosing priceSchedule ADifference
4DJan 4, 2023$495,000$575,000 p. 49−13.9%
2DJan 31, 2023$498,500$579,000 p. 49−13.9%
4BFeb 1, 2023$635,000$695,000 p. 49−8.6%
3BFeb 15, 2023$625,000$699,000 p. 49−10.6%
4CMar 3, 2023$540,000$650,000 p. 49−16.9%
2CMay 22, 2023$505,000$659,000 p. 49−23.4%
1BMay 30, 2023$630,000$799,000 p. 49−21.2%
3CJun 29, 2023$553,000$659,000 p. 49−16.1%
4AJul 13, 2023$619,500$699,000 p. 49−11.4%
3DAug 4, 2023$470,000$579,000 p. 49−18.8%
1AAug 17, 2023$599,000$759,000 p. 49−21.1%
1CAug 30, 2023$545,000$749,000 p. 49−27.2%
2BSep 22, 2023$585,000$705,000 p. 49−17%
2AOct 20, 2023$585,000$710,000 p. 49−17.6%
1DNov 30, 2023$550,000$739,000 p. 49−25.6%
3AJan 26, 2024$580,247$705,000 p. 49−17.7%

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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
153 Chauncey LLC
Principals
Marc Chemtob, David Chemtob, Samuel Kairy
Tax estimate
Unger Realty ServicesPrepared the first-year real estate tax projection
Construction lender
Jacobs Real Estate Advisors

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

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