THE CONDO BOOK PROJECT

184 St. Nicholas Avenue Condominium

184 St. Nicholas Avenue, Brooklyn, NY 11237

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Overview

Units
3 residential
Subway
3 min walk to DeKalb Av LJefferson St L, 9 min
Average $/sf
$1,004Homes in Schedule A, as first offered
Common charges
$508–$719 a monthSponsor's first-year estimate in Schedule A, October 1, 2021 - September 30, 2022
Offering price
$3.13 million total $2.9 million when first offered

The sponsor of record is Two President LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 323 pages. The sponsor has filed 1 amendment, the latest in February 2022. The nearest other condo plan on file is St. Nick Avenue Condominium, next door.

Plan CD210007 · Rehab · accepted Jun 18, 2021 · AG record ↗

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FigureThis building1979 Lafayette23 units · 1.2 miaccepted 2022569 Jefferson33 units · 1.6 miaccepted 2021
Common ChargesPer Square Foot / Month$0.58Highest$0.42$0.31
Average Offering PricePer Apartment$1.04MBelow peers$1.2M$1.27M
Average PricePer Square Foot$1,004In line$1,088$888
Property TaxesPer Square Foot / Month$0.27In line$0.04$0.29
Average Unit SizeSquare Feet1,038 SFSmaller1,103 SF1,432 SF

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Unit mix, closings, budgets, finishes and the team, against 979 Lafayette and 569 Jefferson, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $3,112,948 at closing against $3,128,000 in Schedule A (p. 30)−0.5%
Average closing price3 homes, on their Schedule A square feet$1,000 / SF
Closingsfirst and latest recordedNov 17, 2021 – Feb 14, 2022

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 3 closings
HomeRecordedClosing priceSchedule ADifference
1Nov 17, 2021$1,150,000$1,150,000 p. 300%
3Nov 22, 2021$1,063,948$1,049,000 p. 30+1.4%
2Feb 14, 2022$899,000$929,000 p. 30−3.2%

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Closings are for subscribers

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
Two President LLC
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection

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

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