THE CONDO BOOK PROJECT

16 Bartlett Street Condominium

16 Bartlett Street, Brooklyn, NY 11206

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Overview

Units
10 residential
Subway
4 min walk to Flushing Av GLorimer St J M, 6 min
Principals
Yitzchok Schwartz
Average $/sf
$820Homes in Schedule A, as first offered
Common charges
$412–$915 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 - December 31, 2021
Offering price
$12.6 million total $11.6 million when first offered

The sponsor of record is Bartlett Estates LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 383 pages. The sponsor has filed 1 amendment, the latest in August 2020. The nearest other condo plan on file is 25 Bartlett Condominium, next door.

Plan CD190402 · New · accepted Jun 26, 2020 · AG record ↗

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FigureThis building1104 Mlk210 units · 0.3 miaccepted 202125 Bartlett318 units · 0 miaccepted 2020
Common ChargesPer Square Foot / Month$0.31In line$0.44$0.26
Average Offering PricePer Apartment$1.46MIn line$1.01M$1.48M
Average PricePer Square Foot$820In line$844$728
Property TaxesPer Square Foot / Month$0.02Lowest$0.82$0.89
Average Unit SizeSquare Feet1,572 SFIn line1,197 SF2,030 SF

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Unit mix, closings, budgets, finishes and the team, against 104 Mlk and 25 Bartlett, 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 closed80% of the homes in Schedule A8 of 10
Closing prices vs. Schedule A6 homes: $7,890,113 at closing against $9,547,200 in Schedule A (p. 37)−17.4%
Average closing price8 homes, on their Schedule A square feet$669 / SF
Closingsfirst and latest recordedDec 10, 2020 – Feb 3, 2022

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
5ADec 10, 2020$990,000$1,042,440 p. 37−5%
4CJan 5, 2021$1,265,000$1,056,720 p. 37+19.7%
5BJan 11, 2021$990,000$1,056,720 p. 37−6.3%
1BMay 28, 2021$1,975,000$1,979,480 p. 37−0.2%
4ASep 13, 2021$290,626——
4BDec 22, 2021$275,626——
1AJan 17, 2022$1,680,113$2,105,280 p. 37−20.2%
3AFeb 3, 2022$990,000$2,306,560 p. 37−57.1%

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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
Bartlett Estates LLC
Principals
Yitzchok Schwartz
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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