THE CONDO BOOK PROJECT

186 16th Street Condominium

186 16th Street, Brooklyn, NY 11215

Compare

Overview

Units
3 residential
Subway
5 min walk to Prospect Av R4 Av-9 St F G R, 10 min
Principals
Elie Fouerti, Robert Saffayeh, Vyacheslav Faybyshev
Average $/sf
$1,354Homes in Schedule A, as first offered
Common charges
$787–$874 a monthSponsor's first-year estimate in Schedule A, July 1, 2024 - June 30, 2025
Offering price
$7.2 million total $7.22 million when first offered

The sponsor of record is Svfg16 LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 291 pages. The sponsor has filed 2 amendments, the latest in October 2024. The nearest other condo plan on file is 231 16th Street Condominium, next door.

Plan CD230098 · New · accepted Sep 18, 2023 · AG record ↗

Compare

FigureThis building1577 10th23 units · 0.5 miaccepted 2023359 13th33 units · 0.3 miaccepted 2024
Common ChargesPer Square Foot / Month$0.47Highest$0.29$0.30
Average Offering PricePer Apartment$2.4MIn line$2.35M$3.07M
Average PricePer Square Foot$1,354Below peers$1,443$1,623
Property TaxesPer Square Foot / Month$0.80Highest$0.34$0.19
Average Unit SizeSquare Feet1,772 SFIn line1,629 SF1,890 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 577 10th and 359 13th, 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 A3 of 3
Closing prices vs. Schedule A3 homes: $6,577,125 at closing against $7,200,000 in Schedule A (p. 46)−8.7%
Average closing price3 homes, on their Schedule A square feet$1,237 / SF
Closingsfirst and latest recordedDec 13, 2024 – Feb 28, 2025

Sales recorded with the Department of Finance (ACRIS) through Mar 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 3 closings
HomeRecordedClosing priceSchedule ADifference
1Dec 13, 2024$2,494,713$2,500,000 p. 46−0.2%
3Jan 13, 2025$1,995,000$2,250,000 p. 46−11.3%
2Feb 28, 2025$2,087,413$2,450,000 p. 46−14.8%

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
Svfg16 LLC
Principals
Elie Fouerti, Robert Saffayeh, Vyacheslav Faybyshev
Tax estimate
MGNY Consulting Corp.Prepared the first-year real estate tax projection
Construction lender
Valley National Bank$3.27 million loan stated in the plan

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

Nearby