THE CONDO BOOK PROJECT

18 Van Buren Street Condominium

18 Van Buren Street, Brooklyn, NY 11221

Compare

Overview

Units
7 residential
Subway
9 min walk to Bedford-Nostrand Avs GMyrtle-Willoughby Avs G, 12 min
Principals
Guy Mor, Itzhak Maman
Average $/sf
$884Homes in Schedule A, as first offered
Common charges
$332–$868 a monthSponsor's first-year estimate in Schedule A, April 1, 2020- March 31, 2021
Offering price
$5.09 million total $4.22 million when first offered

The sponsor of record is 18 Van Buren LLC, represented by Law Firm Of Jay Lichtman P.C.. The offering plan runs 322 pages. The sponsor has filed 3 amendments, the latest in December 2020. The nearest other condo plan on file is 11 Van Buren Street Condominium, next door.

Plan CD190104 · New · accepted Aug 5, 2019 · AG record ↗

Compare

FigureThis building1838 Quincy27 units · 1 miaccepted 201964 Stanhope38 units · 1.1 miaccepted 2019
Common ChargesPer Square Foot / Month$0.67In line$0.59$0.75
Average Offering PricePer Apartment$603,571Below peers$640,429$687,750
Average PricePer Square Foot$884Below peers$954$931
Property TaxesPer Square Foot / Month$0.14In line$0.16$0.11
Average Unit SizeSquare Feet683 SFIn line672 SF739 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 838 Quincy and 64 Stanhope, cited to the offering plans. No credit card required.

Create a free account
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 A7 of 7
Closing prices vs. Schedule A7 homes: $4,611,757 at closing against $4,225,000 in Schedule A (p. 34)+9.2%
Average closing price7 homes, on their Schedule A square feet$965 / SF
Closingsfirst and latest recordedJul 10, 2020 – Apr 29, 2021

Sales recorded with the Department of Finance (ACRIS) through Oct 31, 2023: 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 7 closings
HomeRecordedClosing priceSchedule ADifference
3FJul 10, 2020$540,000$475,000 p. 34+13.7%
4FJul 14, 2020$542,727$500,000 p. 34+8.5%
1Jul 20, 2020$1,085,000$1,000,000 p. 34+8.5%
3RSep 1, 2020$560,000$500,000 p. 34+12%
4RSep 15, 2020$845,148$850,000 p. 34−0.6%
2ROct 28, 2020$539,882$450,000 p. 34+20%
2FApr 29, 2021$499,000$450,000 p. 34+10.9%

Pro

Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

Subscribe to seeAlready a member? Sign in

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
18 Van Buren LLC
Principals
Guy Mor, Itzhak Maman
Tax estimate
Law Offices of Farhid Sedaghat-Pour, Esq., PLLCPrepared the first-year real estate tax projection
Construction lender
Cross River Bank$1.75 million recorded

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

Nearby