THE CONDO BOOK PROJECT

182 Minna Street Condominium

182 Minna Street, Brooklyn, NY 11218

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Overview

Units
6 residential
Subway
9 min walk to Church Av F GFort Hamilton Pkwy D, 11 min
Principals
Nick Barone, Ralph Barone
Average $/sf
$1,178Homes in Schedule A, as first offered
Common charges
$342–$500 a monthSponsor's first-year estimate in Schedule A, November 1, 2022 through October 31, 2023
Offering price
$8.94 million total $8.45 million when first offered

The sponsor of record is 182 Minna Group LLC, represented by Rosen Law LLC. The offering plan runs 397 pages. The sponsor has filed 3 amendments, the latest in May 2024. The nearest other condo plan on file is 1149 36th Street Condominium, next door.

Plan CD220006 · New · accepted Sep 8, 2022 · AG record ↗

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FigureThis building11155 46th28 units · 0.5 miaccepted 202349 East 4th36 units · 0.7 miaccepted 2021
Common ChargesPer Square Foot / Month$0.34Above peers$0.33$0.33
Average Offering PricePer Apartment$1.43MAbove peers$1.25M$1.42M
Average PricePer Square Foot$1,178In line$1,161$1,179
Property TaxesPer Square Foot / Month$0.33Lowest$1.03$0.55
Average Unit SizeSquare Feet1,210 SFLarger1,077 SF1,207 SF

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Unit mix, closings, budgets, finishes and the team, against 1155 46th and 49 East 4th, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $6,903,589 at closing against $8,550,000 in Schedule A (p. 49)−19.3%
Average closing price6 homes, on their Schedule A square feet$951 / SF
Closingsfirst and latest recordedJul 19, 2023 – Nov 18, 2024

Sales recorded with the Department of Finance (ACRIS) through Jul 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 6 closings
HomeRecordedClosing priceSchedule ADifference
2BJul 19, 2023$1,119,000$1,250,000 p. 49−10.5%
3AAug 3, 2023$1,109,000$1,250,000 p. 49−11.3%
2AAug 16, 2023$1,075,000$1,250,000 p. 49−14%
3BAug 16, 2023$1,109,000$1,250,000 p. 49−11.3%
1AMay 24, 2024$1,281,589$1,775,000 p. 49−27.8%
1BNov 18, 2024$1,210,000$1,775,000 p. 49−31.8%

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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
182 Minna Group LLC
Principals
Nick Barone, Ralph Barone
Tax estimate
Rosen Law, LLCPrepared the first-year real estate tax projection
Construction lender
1st Constitution Bank$2.65 million recorded

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

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