THE CONDO BOOK PROJECT

Kings Point Condominium

1657 East 19th Street, Brooklyn, NY 11229

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Overview

Units
15 residential
Subway
5 min walk to Kings Hwy B QAvenue M Q, 16 min
Principals
Kenneth Murdak, Ocher Aminov, Rudolf Samandarov
Average $/sf
$891Homes in Schedule A, as first offered
Common charges
$135–$220 a monthSponsor's first-year estimate in Schedule A, Expected To Commence October 1, 2022
Offering price
$7.54 million total

The sponsor of record is 2769a East 15th Street, LLC, represented by Boris Saks, Esq. Pllc. The offering plan runs 227 pages. The sponsor has filed 3 amendments, the latest in July 2024. The nearest other condo plan on file is King Levkov Condominium Association, next door.

Plan CD210291 · New · accepted Jul 15, 2022 · AG record ↗

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FigureThis building11721 W. 6th215 units · 1.3 miaccepted 2021Aster Garden310 units · 0.6 miaccepted 2021
Common ChargesPer Square Foot / Month$0.35In line$0.33$0.54
Average Offering PricePer Apartment$502,667Below peers$720,960$520,500
Average PricePer Square Foot$891In line$900$801
Property TaxesPer Square Foot / Month$0.75Lowest$0.95$1.04
Average Unit SizeSquare Feet564 SFSmaller801 SF650 SF

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Unit mix, closings, budgets, finishes and the team, against 1721 W. 6th and Aster Garden, 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 A15 of 15
Closing prices vs. Schedule A15 homes: $6,275,256 at closing against $7,540,000 in Schedule A (p. 28)−16.8%
Average closing price15 homes, on their Schedule A square feet$742 / SF
Closingsfirst and latest recordedJul 5, 2023 – Nov 21, 2024

Sales recorded with the Department of Finance (ACRIS) through Dec 31, 2024: 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 15 closings
HomeRecordedClosing priceSchedule ADifference
4BJul 5, 2023$443,118$525,000 p. 28−15.6%
4AJul 6, 2023$445,146$530,000 p. 28−16%
5BJul 7, 2023$439,062$530,000 p. 28−17.2%
3AJul 10, 2023$441,090$530,000 p. 28−16.8%
2AJul 14, 2023$441,090$525,000 p. 28−16%
6BJul 20, 2023$441,090$535,000 p. 28−17.6%
8AJul 20, 2023$348,816$375,000 p. 28−7%
6AJul 25, 2023$436,020$545,000 p. 28−20%
5AJul 27, 2023$441,090$540,000 p. 28−18.3%
3BAug 8, 2023$439,062$525,000 p. 28−16.4%
7AOct 13, 2023$390,000$435,000 p. 28−10.3%
2BDec 4, 2023$466,440$550,000 p. 28−15.2%
7BFeb 2, 2024$363,012$410,000 p. 28−11.5%
8BMar 7, 2024$375,180$410,000 p. 28−8.5%
1Nov 21, 2024$365,040$575,000 p. 28−36.5%

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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
2769a East 15th Street, LLC
Principals
Kenneth Murdak, Ocher Aminov, Rudolf Samandarov
Construction lender
Colorado Savings Bank$4.1 million recorded

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

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