THE CONDO BOOK PROJECT

165 Malcolm X Boulevard Condominium

165 Malcolm X Boulevard, Brooklyn, NY 11221

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Overview

Units
8 residential
Subway
10 min walk to Gates Av J ZKosciuszko St J, 10 min
Developers
RNY Development Group, Lian Development
Principals
Ariel Sholomov, Yaakov Peretz
Average $/sf
$1,149Homes in Schedule A, as first offered
Common charges
$292–$585 a monthSponsor's first-year estimate in Schedule A, July 1, 2022 - June 30, 2023
Offering price
$6.94 million total $7.03 million when first offered

The sponsor of record is 165 Mx Group 17 LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 326 pages. The sponsor has filed 1 amendment, the latest in January 2023. The nearest other condo plan on file is 688 Monroe Street Condominium, next door.

Plan CD200023 · New · accepted Feb 28, 2022 · AG record ↗

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FigureThis building1714 Jefferson27 units · 0.2 miaccepted 2022Residence At 73537 units · 0.8 miaccepted 2021
Common ChargesPer Square Foot / Month$0.64Above peers$0.56$0.63
Average Offering PricePer Apartment$694,000In line$664,286$738,429
Average PricePer Square Foot$1,149In line$1,119$1,170
Property TaxesPer Square Foot / Month$0.69Lowest$0.92$0.96
Average Unit SizeSquare Feet604 SFIn line594 SF631 SF

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Unit mix, closings, budgets, finishes and the team, against 714 Jefferson and Residence At 735, 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
165 Mx Group 17 LLC
Developers
RNY Development Group, Lian Development
Principals
Ariel Sholomov, Yaakov Peretz
Tax estimate
Berish LichtmanPrepared the first-year real estate tax projection
Construction lender
Quanta FinanceLender on the mortgage and building loan agreement recorded April 2019 in ACRIS; $6.98 million recorded

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

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