THE CONDO BOOK PROJECT

19 Richardson Street Condominium

19 Richardson Street, Brooklyn, NY 11211

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Overview

Units
3 residential
Subway
7 min walk to Metropolitan Av/Lorimer St G LBedford Av L, 7 min
Developers
Bluefield Holdings, LLC, Basile Builders Group, Inc.
Principals
Elizabeth McDonald, Jason Blauvelt, Rocco Basile
Average $/sf
$1,775Homes in Schedule A, as first offered
Common charges
$525–$676 a monthSponsor's first-year estimate in Schedule A, July 1, 2020 through June 30, 2021
Offering price
$6.99 million total $6.6 million when first offered

The sponsor of record is 19 Richardson Street LLC, represented by Rosen Law LLC. The offering plan runs 389 pages. The sponsor has filed 2 amendments, the latest in March 2021. The nearest other condo plan on file is Bayard Views Condominium, next door.

Plan CD190320 · New · accepted Apr 13, 2020 · AG record ↗

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FigureThis building1126 South 2nd23 units · 0.7 miaccepted 202029 Havemeyer35 units · 0.2 miaccepted 2020
Common ChargesPer Square Foot / Month$0.48Below peers$0.53$0.57
Average Offering PricePer Apartment$2.33MIn line$2.88M$1.68M
Average PricePer Square Foot$1,775Above peers$1,698$1,724
Property TaxesPer Square Foot / Month$0.85In line$0.51$0.96
Average Unit SizeSquare Feet1,312 SFIn line1,698 SF974 SF

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Unit mix, closings, budgets, finishes and the team, against 126 South 2nd and 29 Havemeyer, 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: $6,837,109 at closing against $6,985,000 in Schedule A (p. 45)−2.1%
Average closing price3 homes, on their Schedule A square feet$1,738 / SF
Closingsfirst and latest recordedJun 1, 2021 – Aug 4, 2021

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
2Jun 1, 2021$1,883,763$1,895,000 p. 45−0.6%
3Jun 2, 2021$2,648,846$2,595,000 p. 45+2.1%
1Aug 4, 2021$2,304,500$2,495,000 p. 45−7.6%

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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
19 Richardson Street LLC
Developers
Bluefield Holdings, LLC, Basile Builders Group, Inc.
Principals
Elizabeth McDonald, Jason Blauvelt, Rocco Basile
Tax estimate
Rosen Law, LLCPrepared the first-year real estate tax projection
Construction lender
Midfirst Bank$1.92 million recorded

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

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