THE CONDO BOOK PROJECT

1455 47th Street Condominium

1544 47th Street, Brooklyn, NY 11219

Overview

Units
3 residential
Subway
11 min walk to Ditmas Av F18 Av F, 11 min
Principals
Joel Rosenbaum
Average $/sf
$313Homes in Schedule A, as first offered
Common charges
$369–$525 a monthSponsor's first-year estimate in Schedule A, 1/1/2021 - 12/31/2021
Offering price
$1.65 million total $1.5 million when first offered

The sponsor of record is 1639 46th Street #2 Trust, represented by Law Office Of Hershy Itzkowitz, Esq. The offering plan runs 321 pages. The nearest other condo plan on file is 1545 47th Street Condominium, next door.

Plan CD190208 · New · accepted Jun 18, 2020 · AG record ↗

Compare

FigureThis building11514 49th23 units · 0.1 miaccepted 20202073 57th33 units · 0.9 miaccepted 2020
Common ChargesPer Square Foot / Month$0.24In line$0.15$0.25
Average Offering PricePer Apartment$550,000Lowest$800,000$1M
Average PricePer Square Foot$313In line$306$497
Property TaxesPer Square Foot / Month$0.47In line$0.33$0.48
Average Unit SizeSquare Feet1,755 SFSmaller2,611 SF2,014 SF

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Unit mix, closings, budgets, finishes and the team, against 1514 49th and 2073 57th, 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
1639 46th Street #2 Trust
Principals
Joel Rosenbaum
Tax estimate
Empire Consulting Service, IncPrepared the first-year real estate tax projection

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

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