THE CONDO BOOK PROJECT

168 Avenue P Condominium

168 Avenue P, Brooklyn, NY 11204

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Overview

Units
30 residential · 14 parking
Subway
5 min walk to Kings Hwy NBay Pkwy N, 5 min
Principals
Can Hui Mei, Cheung Chan, Kwok Ho Chan, Tin Ming Fung
Average $/sf
$784Homes in Schedule A, as first offered
Common charges
$173–$419 a monthSponsor's first-year estimate in Schedule A, January 1, 2021 to December 31, 2021
Offering price
$22.4 million total $22.2 million when first offered

The sponsor of record is 3818 Development LLC, represented by Thomas E. Berinato Attorney At Law. The offering plan runs 305 pages. The sponsor has filed 1 amendment, the latest in November 2021. The nearest other condo plan on file is 1613 West 9th Street Condominium, next door.

Plan CD180245 · New · accepted Apr 26, 2021 · AG record ↗

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FigureThis building1Kings Place251 units · 0.4 miaccepted 20221721 W. 6th315 units · 0.2 miaccepted 2021
Common ChargesPer Square Foot / Month$0.37Above peers$0.26$0.33
Average Offering PricePer Apartment$719,233In line$662,216$720,960
Average PricePer Square Foot$784In line$761$900
Property TaxesPer Square Foot / Month$0.72In line$0.72$0.95
Average Unit SizeSquare Feet917 SFLarger870 SF801 SF

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Unit mix, closings, budgets, finishes and the team, against Kings Place and 1721 W. 6th, 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 A30 of 30
Closing prices vs. Schedule A30 homes: $20,282,128 at closing against $21,577,000 in Schedule A (p. 33)−6%
Average closing price30 homes, on their Schedule A square feet$737 / SF
Closingsfirst and latest recordedMar 4, 2022 – Apr 28, 2025

Sales recorded with the Department of Finance (ACRIS) through Mar 31, 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 30 closings
HomeRecordedClosing priceSchedule ADifference
4DMar 4, 2022$598,731$638,000 p. 33−6.2%
1CMar 10, 2022$405,600$450,000 p. 33−9.9%
6BMar 24, 2022$621,133$663,000 p. 33−6.3%
3BMar 31, 2022$619,096$663,000 p. 33−6.6%
7DApr 5, 2022$560,038$600,000 p. 33−6.7%
3DApr 7, 2022$590,585$638,000 p. 33−7.4%
4BApr 14, 2022$616,041$663,000 p. 33−7.1%
1AApr 19, 2022$560,038$600,000 p. 33−6.7%
8DApr 19, 2022$560,038$600,000 p. 33−6.7%
6DApr 20, 2022$670,009$638,000 p. 33+5%
2BApr 29, 2022$631,315$663,000 p. 33−4.8%
2AMay 12, 2022$776,925$796,000 p. 33−2.4%
2CMay 16, 2022$616,041$660,000 p. 33−6.7%
5DMay 24, 2022$598,731$638,000 p. 33−6.2%
4CJun 6, 2022$824,783$830,000 p. 33−0.6%
7BJun 14, 2022$610,950$708,000 p. 33−13.7%
1BJul 20, 2022$651,680$740,000 p. 33−11.9%
8BJul 22, 2022$616,041$708,000 p. 33−13%
5BAug 25, 2022$631,315$663,000 p. 33−4.8%
6CAug 4, 2023$817,391$830,000 p. 33−1.5%
7CNov 21, 2023$817,391$830,000 p. 33−1.5%
8CFeb 2, 2024$804,418$830,000 p. 33−3.1%
5AApr 11, 2024$761,651$803,000 p. 33−5.1%
5CApr 16, 2024$814,600$830,000 p. 33−1.9%
3CMay 10, 2024$793,014$830,000 p. 33−4.5%
4AJun 27, 2024$773,870$803,000 p. 33−3.6%
6AAug 9, 2024$687,319$830,000 p. 33−17.2%
8AMar 13, 2025$722,958$810,000 p. 33−10.7%
7AApr 2, 2025$782,016$820,000 p. 33−4.6%
3AApr 28, 2025$748,414$802,000 p. 33−6.7%

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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
3818 Development LLC
Principals
Can Hui Mei, Cheung Chan, Kwok Ho Chan, Tin Ming Fung
Tax estimate
Thomas E. BerinatoPrepared the first-year real estate tax projection
Construction lender
Cathay Bank

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

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