Nuovo Condominium
1901 Ocean Avenue, Brooklyn, NY 11230
Overview
- Units
- 23 residential · 7 parking
- Subway
- 8 min walk to Avenue M QKings Hwy B Q, 12 min
- Developers
- Royal Home Management Inc., Royal Builders Development LLC, Royal Builders Realty LLC
- Principals
- Joshua Markovics, Menachem Markovics, Yechiel Bromberg
- Average $/sf
- $706Homes in Schedule A, as first offered
- Common charges
- $317–$739 a monthSponsor's first-year estimate in Schedule A, January 1, 2022 - December 31, 2022
- Offering price
- $12.2 million total $10.9 million when first offered
- Floor plans
- Page 5 of the plan
The sponsor of record is Royal 1901 Ocean Avenue Realty LLC, represented by Tsyngauz & Associates, P.C.. The offering plan runs 312 pages. The sponsor has filed 2 amendments, the latest in November 2021. The nearest other condo plan on file is 1921 Ocean Condominium, next door.
Plan CD200057 · New · accepted Aug 21, 2020 · AG record ↗
Compare
| Figure | This building1 | Homecrest222 units · 0.4 miaccepted 2020 | 168 Avenue P330 units · 1.6 miaccepted 2021 |
|---|---|---|---|
| Common ChargesPer Square Foot / Month | $0.75In line | $0.83 | $0.37 |
| Average Offering PricePer Apartment | $463,087In line | $458,955 | $719,233 |
| Average PricePer Square Foot | $706Below peers | $747 | $784 |
| Property TaxesPer Square Foot / Month | $1.14In line | $1.19 | $0.72 |
| Average Unit SizeSquare Feet | 656 SFIn line | 614 SF | 917 SF |
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Unit mix, closings, budgets, finishes and the team, against Homecrest and 168 Avenue P, cited to the offering plans. No credit card required.
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- 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.
Units & Prices
Closings Pro
| Homes closed100% of the homes in Schedule A | 23 of 23 |
| Closing prices vs. Schedule A23 homes: $10,897,472 at closing against $10,651,000 in Schedule A (p. 41, p. 42) | +2.3% |
| Average closing price23 homes, on their Schedule A square feet | $722 / SF |
| Closingsfirst and latest recorded | May 16, 2022 – Nov 21, 2023 |
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 23 closings
| Home | Recorded | Closing price | Schedule A | Difference |
|---|---|---|---|---|
| 3C | May 16, 2022 | $467,500 | $465,000 p. 41 | +0.5% |
| 3D | May 16, 2022 | $320,424 | $315,000 p. 41 | +1.7% |
| 6B | May 17, 2022 | $389,500 | $365,000 p. 42 | +6.7% |
| 5C | May 18, 2022 | $522,500 | $479,000 p. 42 | +9.1% |
| 5D | May 25, 2022 | $329,550 | $327,500 p. 42 | +0.6% |
| 6A | May 26, 2022 | $466,440 | $485,000 p. 42 | −3.8% |
| 2B | Jun 3, 2022 | $399,000 | $380,000 p. 41 | +5% |
| 2D | Jun 13, 2022 | $294,060 | $299,500 p. 41 | −1.8% |
| 4A | Jun 28, 2022 | $435,000 | $420,000 p. 41 | +3.6% |
| 3B | Jul 7, 2022 | $380,250 | $395,000 p. 41 | −3.7% |
| 4C | Jul 14, 2022 | $448,500 | $470,000 p. 41 | −4.6% |
| 8B | Jul 18, 2022 | $710,000 | $669,000 p. 42 | +6.1% |
| 2A | Jul 22, 2022 | $400,530 | $399,500 p. 41 | +0.3% |
| 4D | Aug 2, 2022 | $326,000 | $320,000 p. 41 | +1.9% |
| 2C | Aug 12, 2022 | $454,272 | $449,000 p. 41 | +1.2% |
| 4B | Oct 3, 2022 | $424,866 | $399,500 p. 41 | +6.3% |
| 5B | Oct 11, 2022 | $425,000 | $407,500 p. 42 | +4.3% |
| 5A | Oct 24, 2022 | $430,950 | $427,500 p. 42 | +0.8% |
| 3A | Nov 10, 2022 | $421,933 | $415,000 p. 41 | +1.7% |
| 7A | Feb 27, 2023 | $720,000 | $699,500 p. 42 | +2.9% |
| 8A | Mar 10, 2023 | $649,644 | $679,500 p. 42 | −4.4% |
| 7B | Aug 18, 2023 | $738,231 | $689,000 p. 42 | +7.1% |
| 6C | Nov 21, 2023 | $743,323 | $695,000 p. 42 | +7% |
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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.
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
- Royal 1901 Ocean Avenue Realty LLC
- Developers
- Royal Home Management Inc., Royal Builders Development LLC, Royal Builders Realty LLC
- Principals
- Joshua Markovics, Menachem Markovics, Yechiel Bromberg
- Counsel
- Tsyngauz & Associates, P.C.
- Tax estimate
- MGNY Consulting Corp.Prepared the first-year real estate tax projection
From our research: Do NYC Developers Rehire the Same Firms?
Nearby
- 1921 Ocean Condominiumnext door · 7 units · 2007
- Magellan Condominumnext door · 12 units · 6 parking · 2007
- Levkov Estates Condominiumnext door · 12 units · 8 parking · 2014
- 1918 Avenue N Condominiumnext door · 10 units · 7 parking · 2015
- 1972 Ocean Avenue Condominium0.1 mi · 8 units · 6 parking · 2016
- Residence0.1 mi · 5 units · 5 parking · 2012