THE CONDO BOOK PROJECT

184 Saint Marks Avenue Condominium

184 St. Marks Avenue, Brooklyn, NY 11238

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Overview

Units
4 residential
Subway
4 min walk to 7 Av B QBergen St 2 3, 6 min
Principals
Aran Scott
Average $/sf
$1,467Homes in Schedule A, as first offered
Common charges
$420–$565 a monthSponsor's first-year estimate in Schedule A, August 1, 2022 - July 31, 2023
Offering price
$8.05 million total

The sponsor of record is 184 Ventures LLC, represented by Certilman Balin Adler & Hyman, LLP. The offering plan runs 382 pages. The sponsor has filed 1 amendment, the latest in December 2022. The nearest other condo plan on file is 190 St.Marks Avenue Condominium, next door.

Plan CD210323 · Rehab · accepted May 10, 2022 · AG record ↗

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FigureThis building1Townhouse 16 Saint Marks23 units · 0.7 miaccepted 202227 Wyckoff33 units · 1.3 miaccepted 2022
Common ChargesPer Square Foot / Month$0.33Lowest$0.61$1.08
Average Offering PricePer Apartment$2.01MIn line$1.86M$2.25M
Average PricePer Square Foot$1,467In line$1,597$1,415
Property TaxesPer Square Foot / Month$0.35Highest$0.26$0.23
Average Unit SizeSquare Feet1,372 SFIn line1,167 SF1,424 SF

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Unit mix, closings, budgets, finishes and the team, against Townhouse 16 Saint Marks and 27 Wyckoff, 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 A4 of 4
Closing prices vs. Schedule A4 homes: $7,630,000 at closing against $8,050,000 in Schedule A (p. 44)−5.2%
Average closing price4 homes, on their Schedule A square feet$1,390 / SF
Closingsfirst and latest recordedApr 28, 2023 – May 11, 2023

Sales recorded with the Department of Finance (ACRIS) through Feb 29, 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 4 closings
HomeRecordedClosing priceSchedule ADifference
1Apr 28, 2023$2,550,000$2,500,000 p. 44+2%
4Apr 28, 2023$1,705,000$1,850,000 p. 44−7.8%
2May 8, 2023$1,700,000$1,850,000 p. 44−8.1%
3May 11, 2023$1,675,000$1,850,000 p. 44−9.5%

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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
184 Ventures LLC
Principals
Aran Scott
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection

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

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