THE CONDO BOOK PROJECT

186 Clinton Avenue Condominium

186 Clinton Avenue, Brooklyn, NY 11205

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Overview

Units
8 residential
Subway
7 min walk to Clinton-Washington Avs GFulton St G, 14 min
Principals
William Caleo, Lyndsay Caleo
Average $/sf
$1,291Homes in Schedule A, as first offered
Common charges
$241–$696 a monthSponsor's first-year estimate in Schedule A, From January 1, 2022 To December 31, 2022
Offering price
$9.33 million total $9.13 million when first offered

The sponsor of record is 186 Clinton Ave LLC, represented by Marcus Attorneys Pllc. The offering plan runs 324 pages. The sponsor has filed 2 amendments, the latest in November 2021. The nearest other condo plan on file is 175 Vanderbilt Condominium, next door.

Plan CD210089 · Rehab · accepted Oct 6, 2021 · AG record ↗

Compare

FigureThis building11015a President28 units · 1.7 miaccepted 2021206 Powers38 units · 1.9 miaccepted 2020
Common ChargesPer Square Foot / Month$0.50In line$0.60$0.47
Average Offering PricePer Apartment$1.15MHighest$818,750$956,750
Average PricePer Square Foot$1,291Above peers$1,169$1,209
Property TaxesPer Square Foot / Month$0.42In line$0.68$0.26
Average Unit SizeSquare Feet887 SFLarger701 SF791 SF

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Unit mix, closings, budgets, finishes and the team, against 1015a President and 206 Powers, 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 A8 of 8
Closing prices vs. Schedule A8 homes: $9,397,026 at closing against $9,160,000 in Schedule A (p. 31)+2.6%
Average closing price8 homes, on their Schedule A square feet$1,324 / SF
Closingsfirst and latest recordedDec 30, 2021 – Apr 14, 2022

Sales recorded with the Department of Finance (ACRIS) through May 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 8 closings
HomeRecordedClosing priceSchedule ADifference
1ADec 30, 2021$1,725,934$1,695,000 p. 31+1.8%
3AJan 12, 2022$967,338$950,000 p. 31+1.8%
PHJan 14, 2022$1,791,197$1,695,000 p. 31+5.7%
4BJan 24, 2022$908,213$885,000 p. 31+2.6%
4AFeb 24, 2022$1,075,000$1,075,000 p. 310%
3BMar 10, 2022$908,213$900,000 p. 31+0.9%
2BMar 18, 2022$1,400,000$1,325,000 p. 31+5.7%
2AApr 14, 2022$621,133$635,000 p. 31−2.2%

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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
186 Clinton Ave LLC
Principals
William Caleo, Lyndsay Caleo
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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