THE CONDO BOOK PROJECT

187 Bridge Street Condominium

187 Bridge Street, Brooklyn, NY 11201

Compare

Overview

Units
6 residential · 1 commercial
Subway
9 min walk to Jay St-MetroTech A C F RHigh St A C, 9 min
Principals
Gavriel Alexander, Yoel Guttman
Average $/sf
$1,295Homes in Schedule A, as first offered
Common charges
$359–$499 a monthSponsor's first-year estimate in Schedule A, October 1, 2018 - September 30, 2019
Offering price
$8.22 million total $7.83 million when first offered

The sponsor of record is 187 Bridge LLC, represented by The Law Office Of Jay Lichtman, P.C.. The offering plan runs 335 pages. The sponsor has filed 3 amendments, the latest in June 2019. The nearest other condo plan on file is Bridgeview Tower Condominium, next door.

Plan CD170316 · New · accepted May 24, 2018 · AG record ↗

Compare

FigureThis building127 Jefferson24 units · 1.8 miaccepted 201850 1st Place35 units · 1.4 miaccepted 2018
Common ChargesPer Square Foot / Month$0.50Above peers$0.34$0.47
Average Offering PricePer Apartment$1.22MBelow peers$1.38M$2.82M
Average PricePer Square Foot$1,295In line$1,185$1,664
Property TaxesPer Square Foot / Month$0.76Highest$0.13$0.19
Average Unit SizeSquare Feet940 SFSmallest1,166 SF1,694 SF

Free Account

See the Full Comp

Unit mix, closings, budgets, finishes and the team, against 27 Jefferson and 50 1st Place, 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 A6 of 6
Closing prices vs. Schedule A6 homes: $6,720,000 at closing against $7,300,000 in Schedule A (p. 30)−7.9%
Average closing price6 homes, on their Schedule A square feet$1,192 / SF
Closingsfirst and latest recordedDec 21, 2018 – Aug 20, 2019

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
FDec 21, 2018$1,395,000$1,275,000 p. 30+9.4%
CMar 15, 2019$1,130,000$1,275,000 p. 30−11.4%
EApr 1, 2019$1,176,000$1,275,000 p. 30−7.8%
BApr 29, 2019$999,000$1,250,000 p. 30−20.1%
AJul 30, 2019$825,000$950,000 p. 30−13.2%
DAug 20, 2019$1,195,000$1,275,000 p. 30−6.3%

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
187 Bridge LLC
Principals
Gavriel Alexander, Yoel Guttman
Tax estimate
Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
Construction lender
Northeast Community Bank$3.57 million recorded

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

Nearby