THE CONDO BOOK PROJECT

156 Devoe Street Condominium

156 Devoe Street, Brooklyn, NY 11211

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Overview

Units
8 residential
Subway
2 min walk to Graham Av LMetropolitan Av/Lorimer St G L, 6 min
Principals
Arie Bar Chaim
Average $/sf
$1,516Homes in Schedule A, as first offered
Common charges
$350–$538 a monthSponsor's first-year estimate in Schedule A, January 1, 2023- December 31, 2023
Offering price
$8.54 million total

The sponsor of record is 156 Devoe Street LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 379 pages. The sponsor has filed 2 amendments, the latest in May 2023. The nearest other condo plan on file is 131 Devoe Street Condominium, next door.

Plan CD220045 · New · accepted Sep 30, 2022 · AG record ↗

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FigureThis building140two Devoe28 units · 0.3 miaccepted 2022143 Powers36 units · 0.1 miaccepted 2022
Common ChargesPer Square Foot / Month$0.64In line$0.68$0.40
Average Offering PricePer Apartment$1.05MLowest$1.59M$1.27M
Average PricePer Square Foot$1,516Below peers$1,595$1,590
Property TaxesPer Square Foot / Month$0.50In line$0.33$0.99
Average Unit SizeSquare Feet696 SFSmaller1,000 SF796 SF

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Unit mix, closings, budgets, finishes and the team, against 40two Devoe and 143 Powers, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $8,365,232 at closing against $8,440,000 in Schedule A (p. 35)−0.9%
Average closing price8 homes, on their Schedule A square feet$1,503 / SF
Closingsfirst and latest recordedAug 23, 2023 – Jan 16, 2026

Sales recorded with the Department of Finance (ACRIS) through Apr 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 8 closings
HomeRecordedClosing priceSchedule ADifference
2FAug 23, 2023$899,000$895,000 p. 35+0.4%
3FAug 30, 2023$925,000$915,000 p. 35+1.1%
3ROct 17, 2023$950,000$925,000 p. 35+2.7%
4FNov 14, 2023$1,210,000$1,225,000 p. 35−1.2%
1RApr 1, 2024$1,249,000$1,195,000 p. 35+4.5%
4RMay 15, 2024$1,195,000$1,295,000 p. 35−7.7%
2RDec 23, 2024$1,017,232$995,000 p. 35+2.2%
1FJan 16, 2026$920,000$995,000 p. 35−7.5%

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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
156 Devoe Street LLC
Principals
Arie Bar Chaim
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Quanta Finance

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

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