THE CONDO BOOK PROJECT

Huron

169 Huron Street, Brooklyn, NY 11222

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Overview

Units
9 residential · 1 commercial
Subway
2 min walk to Greenpoint Av GNassau Av G, 12 min
Principals
Lee Cohen
Average $/sf
$1,567Homes in Schedule A, as first offered
Common charges
$439–$888 a monthSponsor's first-year estimate in Schedule A, March 1, 2022 - February 28, 2023
Offering price
$16 million total

The sponsor of record is Bhld 996 Manhattan Avenue LLC, represented by Marans Newman Tsolis & Nazinitsky LLC. The offering plan runs 334 pages. The sponsor has filed 2 amendments, the latest in December 2022. The nearest other condo plan on file is 175 Huron Condominium, next door.

Plan CD200225 · New · accepted Jul 15, 2021 · AG record ↗

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FigureThis building1186 Huron210 units · 0 miaccepted 2021149 Green39 units · 0.1 miaccepted 2022
Common ChargesPer Square Foot / Month$0.69Lowest$0.84$0.88
Average Offering PricePer Apartment$1.46MIn line$1.48M$1.02M
Average PricePer Square Foot$1,567In line$1,602$1,523
Property TaxesPer Square Foot / Month$0.77In line$0.92$0.74
Average Unit SizeSquare Feet929 SFLarger924 SF671 SF

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Unit mix, closings, budgets, finishes and the team, against 186 Huron and 149 Green, 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 A10 of 10
Closing prices vs. Schedule A9 homes: $12,415,839 at closing against $12,480,000 in Schedule A (p. 48)−0.5%
Average closing price9 homes, on their Schedule A square feet$1,546 / SF
Closingsfirst and latest recordedDec 15, 2022 – Aug 31, 2023

Sales recorded with the Department of Finance (ACRIS) through Sep 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 10 closings
HomeRecordedClosing priceSchedule ADifference
4BDec 15, 2022$1,650,000$1,590,000 p. 48+3.8%
4ADec 16, 2022$995,000$965,000 p. 48+3.1%
3BDec 20, 2022$1,552,831$1,525,000 p. 48+1.8%
5ADec 20, 2022$1,017,232$975,000 p. 48+4.3%
MASNTDec 21, 2022$2,301,245——
2BDec 23, 2022$1,566,630$1,500,000 p. 48+4.4%
PH BMar 29, 2023$1,800,000$1,800,000 p. 480%
5BMay 12, 2023$1,650,000$1,650,000 p. 480%
3AMay 15, 2023$1,013,159$955,000 p. 48+6.1%
PH AAug 31, 2023$1,170,988$1,520,000 p. 48−23%

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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
Bhld 996 Manhattan Avenue LLC
Principals
Lee Cohen
Tax estimate
MGNY ConsultingPrepared the first-year real estate tax projection
Construction lender
USC$11.2 million recorded

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

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